Business
Canadian Natural Resources reports Q1 profit down from year ago, production up
By The Canadian Press on May 4th, 2023
CALGARY – Canadian Natural Resources Ltd. reported a first-quarter profit of $1.8 billion, down from $3.1 billion in the same quarter last year. The oilsands company say the profit amounted to $1.62 per diluted share for the quarter ended March 31, down from a profit of $2.63 per diluted share a year earlier. Revenue for ... Read More »
Be the first to comment!European Central Bank raises interest rates but slows pace
By David Mchugh, The Associated Press on May 4th, 2023
FRANKFURT, Germany (AP) – The European Central Bank slowed the pace of its interest rate increases Thursday, stepping back like the U.S. Federal Reserve from a string of jumbo hikes aimed at snuffing out inflation. The ECB’s quarter-point hike follows evidence that its efforts are working by making mortgages and business loans harder to get. ... Read More »
Be the first to comment!Telus reports Q1 profit down from a year ago, raises quarterly dividend
By The Canadian Press on May 4th, 2023
VANCOUVER – Telus Corp. raised its dividend as it reported its first-quarter profit fell compared with a year ago on higher interest, depreciation and amortization, restructuring and other costs. The company says it will now pay quarterly dividend of 36.36 cents per share, up from 35.11 cents per share. The increased payment to shareholders came ... Read More »
Be the first to comment!Shopify to reduce workforce by 20% and sell logistics business
By The Canadian Press on May 4th, 2023
OTTAWA – Shopify Inc. says it will reduce its head count by about 20 per cent and sell its logistics business to Flexport, a supply chain management company. The Ottawa-based e-commerce company positioned the moves as a way to help it focus on its main quest to make commerce easier. In an open letter, chief ... Read More »
Be the first to comment!Enbridge signs tolling deal with shippers for Mainline pipeline system
By The Canadian Press on May 4th, 2023
CALGARY – Enbridge Inc. says it has reached a deal with shippers for tolling on its Mainline pipeline system, which moves over three million barrels a day of crude oil and liquids from Western Canada. The company says the agreement covers both the Canadian and U.S. portions of the Mainline system and will provide customers ... Read More »
Be the first to comment!Canadian Press NewsAlert: Shopify to reduce workforce by 20%, sell logistics business
By The Canadian Press on May 4th, 2023
OTTAWA – Shopify Inc. says it will reduce its head count by about 20 per cent and sell its logistics business to Flexport, a supply chain management company. More coming. Companies in this story: (TSX:SHOP)... Read More »
Be the first to comment!BCE reports Q1 profit down from year ago, revenue edges higher
By The Canadian Press on May 4th, 2023
MONTREAL – BCE Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher. The parent company of Bell Canada says it earned a profit attributable to common shareholders of $725 million or 79 cents per diluted share for the quarter ended March 31, down from $877 million or 96 ... Read More »
Be the first to comment!TD Bank Group calls off deal to buy U.S. bank First Horizon
By The Canadian Press on May 4th, 2023
TORONTO – TD Bank Group has called off its US$13.4-billion takeover deal to acquire First Horizon Corp. The bank says it reached a mutual agreement with the U.S. bank to terminate the acquisition because of the uncertainty as to when and if it would be able to obtain regulatory approval. TD chief executive Bharat Masrani ... Read More »
Be the first to comment!Canadian Press NewsAlert: TD Bank calls off deal to buy U.S. bank First Horizon
By The Canadian Press on May 4th, 2023
TORONTO – TD Bank Group has agreed to call off its deal to acquire U.S. bank First Horizon Corp. More coming. Companies in this story: (TSX:TD)... Read More »
Be the first to comment!Queen Elizabeth toonie most popular coin some sellers have seen
By Tara Deschamps, The Canadian Press on May 4th, 2023
TORONTO – Colin Cutler has been going to coin shows since he was 14 but has never come across a coin as popular as the black-ringed toonie the Royal Canadian Mint released to memorialize the late Queen Elizabeth. “I have never seen a coin with this kind of demand in the 52 years I’ve been ... Read More »
Be the first to comment!Canadian Tire, Petro-Canada to partner up on gas stations and rewards programs
By The Canadian Press on May 3rd, 2023
TORONTO – Canadian Tire Corp. Ltd.’s more than 200 retail fuel sites will be rebranded under Petro-Canada in a new partnership between the retailer and the fuel brand. Canadian Tire says in a joint release with Suncor Energy Inc. that the agreement will see Suncor’s Petro-Canada become the primary fuel provider for the Canadian Tire ... Read More »
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