Business
Canfor Corp. CEO Don Kayne to step down at the end of 2024
By The Canadian Press on July 22nd, 2024
VANCOUVER – Canfor Corp. says its president and CEO is retiring at the end of the year. The Vancouver-based company says Don Kayne has held the role since 2011, and has been with the company for 46 years. Canfor says the company has grown and transformed into a global entity under Kayne’s leadership. Current senior ... Read More »
Be the first to comment!S&P/TSX composite index up almost 200 points Monday, U.S. markets also rise
By The Canadian Press on July 22nd, 2024
TORONTO – Gains in the financial, industrial and utilities sectors led Canada’s main stock index higher on Monday, while U.S. stock markets also rose. The S&P/TSX composite index closed up 182.26 points at 22,872.65. In New York, the Dow Jones industrial average was up 127.91 points at 40,415.44. The S&P 500 index was up 59.41 ... Read More »
Be the first to comment!CN Rail fined $8M for crude oil spills related to 2015 train derailments
By The Canadian Press on July 22nd, 2024
TIMMINS, ONT. – Canadian National Railway Co. has been ordered to pay $8 million in fines for environmental offences related to two 2015 train derailments. The Montreal-based railway was ordered by the Ontario Court of Justice on Monday to pay the fines after pleading guilty to two charges under the federal Fisheries Act. The charges ... Read More »
Be the first to comment!Tenants offered accommodations and support after surprise mass eviction
By The Canadian Press on July 22nd, 2024
WINNIPEG – Some tenants of a Winnipeg apartment building who were suddenly evicted from their units this month have moved back in. Devony Hudson got her keys this morning and said she is starting over. Hudson and others in the three-storey building say they were surprised earlier this month when a new owner gave them ... Read More »
Be the first to comment!Calgary’s restrictions on sprinkler and water hose use to remain until further notice
By The Canadian Press on July 22nd, 2024
Calgary says its outdoor water restrictions will remain because more reinforcing wires snapped along new pipe over the weekend. Mayor Jyoti Gondek says a heat wave hovering over Calgary caused the three new snaps, on top of four others that broke earlier this month, as a repaired water main gradually increased its water capacity. Gondek ... Read More »
Be the first to comment!Air Canada cuts 2024 forecast amid tough competition, excess capacity
By The Canadian Press on July 22nd, 2024
MONTREAL – Air Canada has lowered its 2024 earnings forecast, saying its planes have not been flying as full as anticipated this summer in part due to tough competition in international markets. The Montreal-based carrier said Monday it now expects its adjusted earnings before interest, taxes, depreciation and amortization for the year to be within ... Read More »
Be the first to comment!Transportation Safety Board investigating fire aboard boat abandoned by ‘Lucky 7’
By The Canadian Press on July 22nd, 2024
HALIFAX – The Transportation Safety Board of Canada has sent investigators to Newfoundland to determine what caused a fire aboard a fishing boat that forced the crew to abandon the vessel for a life-raft, leaving them at the mercy of the waves for two days. The independent agency issued a statement saying its investigators will ... Read More »
Be the first to comment!Most airlines except one are recovering from the CrowdStrike tech outage. The feds have noticed
By David Koenig, The Associated Press on July 22nd, 2024
Delta Air Lines struggled for a fourth straight day to recover from a worldwide technology outage caused by a faulty software update, stranding tens of thousands of passengers and drawing unwanted attention from the federal government. Other carriers were returning Monday to nearly normal levels of service disruptions, intensifying the glare on Delta’s relatively weaker ... Read More »
Be the first to comment!LCBO has bright future, Premier Ford says as two-week-long strike comes to an end
By The Canadian Press on July 22nd, 2024
TORONTO – Ontario Premier Doug Ford says he believes the province’s main liquor retailer has a bright future as thousands of workers returned to work Monday after a two-week strike. The Liquor Control Board of Ontario says stores will be open for business on Tuesday. Ford says he has great confidence in the LCBO’s future, ... Read More »
Be the first to comment!Two-thirds of Canadians ‘desperately’ need interest rates to go down: MNP survey
By The Canadian Press on July 22nd, 2024
CALGARY – A new survey says the Bank of Canada’s recent interest rate cut did little to change Canadians’ negative perceptions about their personal finances. The MNP Consumer Debt Index, conducted quarterly by Ipsos, dropped six points from the previous quarter to 85 points, which it says signals increasingly negative views on respondents’ debt situation. ... Read More »
Be the first to comment!S&P/TSX composite index up over 100 points Monday morning, U.S. markets also rise
By The Canadian Press on July 22nd, 2024
TORONTO – Gains in the financial and industrial sectors led Canada’s main stock index higher in late-morning trading on Monday, while U.S. stock markets also rose. The S&P/TSX composite index was up 126.25 points at 22,816.64. In New York, the Dow Jones industrial average was up 88.24 points at 40,375.77. The S&P 500 index was ... Read More »
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