Business
Precision Drilling earns $20.7 million in second quarter
By The Canadian Press on July 30th, 2024
CALGARY – Precision Drilling Corp. says its earnings for the second quarter declined 23 per cent year-over-year to $20.7 million, down from $26.9 million. Revenue for the quarter was $429.2 million, up from $425.6 million during the same quarter last year. The company says its revenue results reflect higher activity and pricing in both Canada ... Read More »
Be the first to comment!Canadian Pacific reports higher revenues, lower profits as costs rise
By The Canadian Press on July 30th, 2024
CALGARY – Canadian Pacific Kansas City Ltd. is reporting a bump in revenues and shipment volumes in its second quarter, even as profits dropped amid higher costs. The railroad operator says net income fell 32 per cent to $903 million in the three months ended June 30 from $1.33 billion in the same period a ... Read More »
Be the first to comment!S&P/TSX composite up, U.S. markets mixed as tech losses weigh on Wall St.
By The Canadian Press on July 30th, 2024
TORONTO – Strength in financials and utilities helped Canada’s main stock index stay afloat Tuesday as U.S. markets were mixed, weighed down by losses in the tech sector. The S&P/TSX composite index was up 45.10 points at 22,824.67. In New York, the Dow Jones industrial average was up 203.40 points at 40,743.33. The S&P 500 ... Read More »
Be the first to comment!Microsoft says ‘unexpected usage spike’ impacted its network, services
By The Canadian Press on July 30th, 2024
Some Microsoft customers experienced technical difficulties with some of the company’s services on Tuesday. In a message on the company’s website, Microsoft said an unexpected usage spike resulted in two Azure components “performing below acceptable thresholds, leading to intermittent errors, timeout, and latency spikes.” While the company is still investigating reports of intermittent errors in ... Read More »
Be the first to comment!B.C. toxic drug deaths down 9% in 2024, but six people continue to die each day
By The Canadian Press on July 30th, 2024
VICTORIA – British Columbia’s Coroners Service says the number of people who have died this year from toxic drug poisoning is down from 2023, but an average of six people are still dying every day from using illicit drugs. The service says it recorded 181 suspected drug poisoning deaths in May and 185 in June, ... Read More »
Be the first to comment!Chorus Aviation sells regional aircraft leasing arm in $1.9-billion deal
By Christopher Reynolds, The Canadian Press on July 30th, 2024
Two years after betting big on plane leasing, Chorus Aviation Inc. has pulled a one-eighty and agreed to sell its regional aircraft leasing arm in a deal valued at $1.9 billion. The sale to affiliates of New York City-based firm HPS Investment Partners will lighten Chorus’s hefty debt load, provide cash for new acquisitions and ... Read More »
Be the first to comment!Senate passes bill to protect kids online, make tech companies accountable for harmful content
By Mary Clare Jalonick And Barbara Ortutay, The Associated Press on July 30th, 2024
WASHINGTON (AP) – The Senate overwhelmingly passed legislation Tuesday that is designed to protect children from dangerous online content, pushing forward with what would be the first major effort by Congress in decades to hold tech companies more accountable for the harm that they cause. The bill, which passed 91-3, has been pushed by parents ... Read More »
Be the first to comment!Ottawa announces more than $192 million for Nova Scotia clean energy projects
By The Canadian Press on July 30th, 2024
HALIFAX – Federal Energy Minister Jonathan Wilkinson has announced more than $192 million for six clean energy projects in Nova Scotia. Wilkinson says $117.6 million will help with the installation of three 50-megawatt battery storage systems to be operated by Nova Scotia Power Inc. in Bridgewater, N.S., Spider Lake, N.S., and White Rock, N.S. The ... Read More »
Be the first to comment!Condo rents in Toronto region dip for first time in three years: Urbanation
By The Canadian Press on July 30th, 2024
TORONTO – A new report says condo rents in Canada’s mostly densely populated region have dipped for the first time in three years. The report from Urbanation Inc. says average condo rents on new leases in the Greater Toronto and Hamilton area were down 1.2 per cent in the second quarter compared with last year. ... Read More »
Be the first to comment!Davie shipyard to expand operations south of the border to build icebreakers
By The Canadian Press on July 30th, 2024
MONTREAL – Quebec-based Davie shipbuilding plans to set up operations south of the border to help the United States build icebreakers. A White House announcement on Monday says the shipbuilder is in talks to partner with an existing American shipyard. The news follows a pact announced earlier this month under which Canada, the U.S. and ... Read More »
Be the first to comment!Meta agrees to $1.4B settlement with Texas in privacy lawsuit over facial recognition
By Nadia Lathan, The Associated Press on July 30th, 2024
AUSTIN, Texas (AP) – Meta has agreed to a $1.4 billion settlement with Texas in a privacy lawsuit over claims that the tech giant used biometric data of users without their permission, officials said Tuesday. Texas Attorney General Ken Paxton said the settlement is the largest secured by a single state. In 2021, a judge ... Read More »
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