Business
Loblaw, George Weston to settle class action over bread price-fixing for $500 million
By The Canadian Press on July 25th, 2024
Loblaw Cos. Ltd. and its parent company George Weston Ltd. say they have agreed to pay $500-million to settle a class-action lawsuit regarding their involvement in an alleged bread price-fixing scheme. The class-action case was brought against a group of companies that includes Loblaw and the Weston companies, Metro, Walmart Canada, Giant Tiger and Sobeys ... Read More »
Be the first to comment!Southwest breaks 50-year tradition, plans to start assigning seats
By The Associated Press on July 25th, 2024
Southwest Airlines is doing away with its 50-year tradition and plans to start assigning seats, as well as premium seating for customers who are seeking more legroom. The airline said Thursday that it has been studying customer preferences and expectations and is making the changes because of what they’ve heard, but it could also generate ... Read More »
Be the first to comment!Can B.C.’s southern resident orcas be taken off the path to extinction?
By Brenna Owen, The Canadian Press on July 25th, 2024
The southern resident killer whale known as Tahlequah captured global sympathy in 2018 when she pushed the body of her dead calf for more than two weeks in waters off British Columbia’s south coast. Some scientists and advocates called the scene a display of public grief. But the impact of the loss went beyond Tahlequah. ... Read More »
Be the first to comment!Publisher Jimmy Lai will testify in his defense at Hong Kong national security trial, lawyer says
By Kanis Leung, The Associated Press on July 24th, 2024
HONG KONG (AP) – A defense lawyer said Thursday that prominent publisher Jimmy Lai will testify in his defense in the landmark national security trial brought under a Beijing-imposed law that has all but wiped out public dissent. Lai, the 76-year-old founder of the now-defunct Apple Daily newspaper, was arrested in 2020 during a crackdown ... Read More »
Be the first to comment!US files details of Boeing’s plea deal related to plane crashes. It’s in the hands of a judge now
By David Koenig, The Associated Press on July 24th, 2024
The Justice Department submitted an agreement with Boeing on Wednesday in which the aerospace giant will plead guilty to a fraud charge for misleading U.S. regulators who approved the 737 Max jetliner before two of the planes crashed, killing 346 people. The detailed plea agreement was filed in federal district court in Texas. The American ... Read More »
Be the first to comment!Prosecutors file Boeing’s plea deal to resolve felony fraud charge tied to 737 Max crashes
By David Koenig, The Associated Press on July 24th, 2024
The Justice Department has filed an agreement in which Boeing will plead guilty to a fraud charge for misleading regulators who approved the 737 Max jetliner before two of the planes crashed, killing 346 people. The detailed plea agreement was filed Wednesday in federal district court in Texas. The American aerospace company and the Justice ... Read More »
Be the first to comment!Aecon reports $123.9 million loss in second quarter, revenue down
By The Canadian Press on July 24th, 2024
TORONTO – Aecon Group Inc. says it lost $123.9 million in the second quarter, down from a profit of $28.2 million a year earlier. The Toronto-based company says revenue totalled $853.8 million, down from $1.2 billion during the same quarter last year. Diluted loss per share was $1.99, down from a gain of 38 cents ... Read More »
Be the first to comment!West Fraser second-quarter profits rise from loss last year, sales also up
By The Canadian Press on July 24th, 2024
VANCOUVER – West Fraser Timber Co. says it earned US$105 million in the second quarter, up from a loss of US$131 million a year earlier. The Vancouver-based company says it saw sales of US$1.7 billion, up from US$1.6 billion during the same quarter last year. Diluted earnings per share were US$1.20, compared with a loss ... Read More »
Be the first to comment!B.C. First Nation gets $147M from Ottawa for lost water rights 131 years ago
By The Canadian Press on July 24th, 2024
ESK’ET, BRITISH COLUMBIA – The federal government has reached a $147-million settlement with a First Nation in British Columbia over a dispute about water rights that dates back to the late 1800s. Members of the Esk’etemc First Nation in the Cariboo region began hand digging an irrigation ditch to their reserve with picks and shovels ... Read More »
Be the first to comment!TSX ends lower, U.S. markets see worst drop since 2022 amid ‘sizeable’ tech selloff
By Rosa Saba, The Canadian Press on July 24th, 2024
TORONTO – Losses in industrial and base metal stocks dragged Canada’s main stock index lower Wednesday, while markets in the U.S. slid. Stocks were under pressure amid a “sizeable selloff” led by the tech sector, said Tamsin Wilding, principal and portfolio manager for fixed income at Leith Wheeler Investment Counsel Ltd. U.S. stock indexes suffered ... Read More »
Be the first to comment!Banks lower prime rates in line with Bank of Canada rate cut
By The Canadian Press on July 24th, 2024
Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by a quarter percentage point Wednesday to 4.5 per cent. All of the big six banks including RBC, TD, BMO, Scotiabank, CIBC and National Bank moved ... Read More »
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