Business
Sleep Country to be acquired by Fairfax Financial for $1.7 billion
By Tara Deschamps, The Canadian Press on July 22nd, 2024
TORONTO – Sleep Country Canada Holdings Inc. says it has agreed to be sold to Fairfax Financial Holdings Ltd. for around $1.7 billion. The deal announced Monday would see a subsidiary of the Toronto-based financial holding company acquire all issued and outstanding common shares of Sleep Country for $35 per share. A press release announcing ... Read More »
Be the first to comment!Air Canada cuts 2024 forecast amid tough competition in international markets
By The Canadian Press on July 22nd, 2024
MONTREAL – Air Canada is lowering its 2024 forecast as it grapples with tough competition in international markets and its planes aren’t as full as it anticipated during the second half of the year. The airline says 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!Stock market today: Wall Street opens higher following a slump last week
By Matt Ott, The Associated Press on July 22nd, 2024
NEW YORK (AP) – U.S. stocks are climbing and clawing back some of the losses from their worst week since April. The S&P 500 was up 0.7% in early trading Monday. The Dow Jones Industrial Average was up 112 points, or 0.3%, and the Nasdaq composite was up 1.1%. Big Tech stocks regained some of ... Read More »
Be the first to comment!Sleep Country to be acquired by Fairfax Financial Holdings for $1.7 billion
By The Canadian Press on July 22nd, 2024
TORONTO – Sleep Country Canada Holdings Inc. says it has agreed to be sold to Fairfax Financial Holdings Limited for around $1.7 billion. The deal would see a subsidiary of the financial holding company acquire all issued and outstanding common shares of Sleep Country for $35 per share. The sale is expected to close in ... Read More »
Be the first to comment!Bombardier opens new maintenance station at Farnborough, U.K. airport
By The Canadian Press on July 22nd, 2024
MONTREAL – Bombardier Inc. says it is opening a new European maintenance station located at the Farnborough, U.K. airport. The new location is meant to provide light scheduled and unscheduled maintenance and support for grounded aircraft. It brings Bombardier’s worldwide number of line maintenance stations to nine. The Montreal-based maker of business jets also has ... Read More »
Be the first to comment!Markets bet on second Bank of Canada interest rate cut coming this week
By Amanda Stephenson, The Canadian Press on July 22nd, 2024
Economists and market watchers are betting the Bank of Canada will deliver another interest rate cut this week amid mounting evidence that inflation issustainably easing. Expectations that the bank will lower its overnight lending rate when it makes its scheduled announcement Wednesday have been high since last week’s release of the latest Statistics Canada inflation ... Read More »
Be the first to comment!A look at one year of strong mayor powers in Ontario
By Allison Jones, The Canadian Press on July 22nd, 2024
TORONTO – In the year since so-called strong mayor powers were granted to the heads of council in a swath of Ontario municipalities, most mayors have used them sparingly – if at all – though in some corners a sense of unease with the sweeping authority remains. As of this month, nearly 30 mayors have ... Read More »
Be the first to comment!Baby Gourmet Foods recalls organic baby cereal over possible bacteria contamination
By The Canadian Press on July 21st, 2024
CALGARY – A brand of baby cereal is being pulled from all in-store and online retailers in Canada due to possible Cronobacter contamination. Calgary-based Baby Gourmet Foods has issued a product recall for its Banana Raisin Oatmeal Organic Whole Grain Cereal, which is sold in 227 g packages. The bacteria can cause serious or fatal ... Read More »
Be the first to comment!LCBO workers ratify deal to end strike, stores to reopen Tuesday
By The Canadian Press on July 21st, 2024
The LCBO says stores will reopen Tuesday after the union representing 10,000 of its workers ratified a new deal with the liquor retailer on Sunday to end the strike that had closed its stores for two weeks. The Liquor Control Board of Ontario confirmed the ratification in a news release Sunday, saying the strike will ... Read More »
Be the first to comment!Joy in Newfoundland after ‘Lucky 7′ fishers survive harrowing days lost at sea
By Sarah Smellie and Michael Tutton, The Canadian Press on July 21st, 2024
NEW-WES-VALLEY, N.L. – There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: “Miracle.” Over and over, residents out walking or chatting to one another in local stores said the fact seven fishermen from the area had somehow survived roughly 48 hours in a life-raft in the Atlantic ocean ... Read More »
Be the first to comment!Joy in Newfoundland after ‘Lucky 7’ fishers survive harrowing days lost at sea
By Sarah Smellie and Michael Tutton, The Canadian Press on July 21st, 2024
NEW-WES-VALLEY, N.L. – There was a powerful word being repeated in the joyful Newfoundland community of New-Wes-Valley on Sunday: “Miracle.” Over and over, residents out walking or chatting to one another in local stores said the fact that seven fishermen from the area had somehow survived roughly 48 hours in a life raft in the ... Read More »
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