Business
SNC-Lavalin stock soars as it looks to U.S. for growth, and M&As — eventually
By Christopher Reynolds, The Canadian Press on May 9th, 2023
MONTREAL – SNC-Lavalin Group Inc. sees the United States as ripe with growth potential in energy and infrastructure, key areas that helped the company swing to a profit last quarter – and sent its stock skyward. In the three months ended March 31, SNC rode its engineering services and nuclear divisions to net earnings nearly ... Read More »
Be the first to comment!S&P/TSX composite closes flat Tuesday, U.S. markets move lower
By The Canadian Press on May 9th, 2023
TORONTO – Canada’s main stock index was flat Tuesday, reversing minor losses from earlier in the day, while U.S. markets moved lower. The S&P/TSX composite index was up 0.58 points at 20,585.73. In New York, the Dow Jones industrial average was down 56.88 points at 33,561.81. The S&P 500 index was down 18.95 points at ... Read More »
Be the first to comment!Biden, congressional leaders meeting to avert default
By Zeke Miller, Seung Min Kim, Josh Boak And Lisa Mascaro, The Associated Press on May 9th, 2023
WASHINGTON (AP) – President Joe Biden and congressional leaders are holding their first in-person meeting Tuesday to try to avert an unprecedented U.S. government default. The president welcomed House Speaker Kevin McCarthy, House Democratic leader Hakeem Jeffries, Senate Majority Leader Chuck Schumer and Minority Leader Mitch McConnell in the Oval Office. Their initial challenge on ... Read More »
Be the first to comment!Stock market today: Wall Street dips amid quiet trading
By Stan Choe, The Associated Press on May 9th, 2023
NEW YORK (AP) – Wall Street edged lower following some mixed earnings reports, as stocks remain roughly where they’ve been stuck for more than a month. The S&P 500 fell 0.5% Tuesday, and the Dow Jones Industrial Average lost 56 points, or 0.2%. The Nasdaq fell 0.6%. The next big milestone for the market will ... Read More »
Be the first to comment!Quebec tables new bill to crack down on Airbnb-style, short-term rentals
By The Canadian Press on May 9th, 2023
QUEBEC – The Quebec government has tabled a bill that would require short-term rental companies to ensure their online listings are certified by the province. The legislation would make it illegal for anyone to advertise a short-term rental online without including the number and expiry date for their provincial certificate. Quebec’s bill is in response ... Read More »
Be the first to comment!SNC-Lavalin looks to U.S. for growth, and M&As — eventually
By Christopher Reynolds, The Canadian Press on May 9th, 2023
MONTREAL – SNC-Lavalin Group Inc. has its eye on the United States as ripe with growth potential for the company’s key focus areas, which helped it swing to a profit last quarter. In the three months ended March 31, SNC rode its engineering services and nuclear divisions to net earnings nearly 15 per cent higher ... Read More »
Be the first to comment!Chorus Aviation jacks up profits in Q1, pays down sizable debt
By The Canadian Press on May 9th, 2023
HALIFAX – Chorus Aviation Inc. says profits last quarter rose 40 per cent year over year, allowing it to pay down part of its hefty debt as the travel industry begins to regain its purchase. The Halifax-based company is reporting net income of $32 million for the quarter ended March 31, compared with $22.9 million ... Read More »
Be the first to comment!Canada-China spat could affect businesses, but Canadian reputation strong: Experts
By Brett Bundale, The Canadian Press on May 9th, 2023
Souring relations between Ottawa and Beijing could affect Canadian companies in China, potentially tarnishing the appeal of Canadian brands for some Chinese consumers, experts said on Tuesday. Companies like Canada Goose, Roots, Lululemon and Tim Hortons have expanded in China in recent years, leaning into Canada’s reputation as a source of quality goods and often ... Read More »
Be the first to comment!US regulators OK spent nuclear fuel facility in New Mexico
By Susan Montoya Bryan, The Associated Press on May 9th, 2023
ALBUQUERQUE, N.M. (AP) – U.S. nuclear regulators have licensed a multibillion-dollar complex to temporarily store tons of spent fuel in New Mexico from commercial nuclear power plants around the nation. The Nuclear Regulatory Commission issued its decision Tuesday about the proposed project in southeastern New Mexico. Gov. Michelle Lujan Grisham and the state’s congressional delegation ... Read More »
Be the first to comment!Portion of Coastal GasLink construction paused over erosion, sediment control issues
By The Canadian Press on May 9th, 2023
CALGARY – TC Energy Corp. says it has proactively halted construction on a 20-km stretch of its Coastal GasLink project over concerns about erosion and sediment control. The Calgary-based pipeline company says the affected section of pipeline is located near the Little Anzac River north of Prince George, B.C. TC Energy says the region has ... Read More »
Be the first to comment!Pet Valu posts lower profit as company sets sights on up to 50 new stores
By Sammy Hudes, The Canadian Press on May 9th, 2023
Pet Valu Holdings Ltd. is looking to open 40 to 50 new stores this year as it looks to capitalize on the surge in adoption of furry companions during the pandemic. With more than 700 stores across Canada, Pet Valu also plans to expand, renovate or relocate 20 to 30 of them this year, the ... Read More »
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