Business
WSP Global buying Australian engineering services company Calibre for $250 million
By The Canadian Press on April 5th, 2023
MONTREAL – WSP Global Inc. has signed a deal to buy Australian engineering services company Calibre Professionals Services One Pty Ltd. for about $250 million. Calibre is focused on rail, infrastructure, rehabilitation and renewable projects for mining clients. The company has a workforce of about 800 professionals with offices in Perth, Sydney, Melbourne and Brisbane. ... Read More »
Be the first to comment!Canadian merchandise trade surplus slips to $422M in February: StatCan
By The Canadian Press on April 5th, 2023
OTTAWA – Statistics Canada says the country’s merchandise trade surplus fell to $422 million in February as exports fell more than imports. The federal agency says the result compared with a revised surplus of $1.2 billion for January. The initial reading for the first month of the year put the surplus at $1.9 billion. For ... Read More »
Be the first to comment!Retailer Roots reports fourth-quarter profit and sales down from year ago
By The Canadian Press on April 5th, 2023
TORONTO – Roots Corp. reported its fourth-quarter profit fell compared with a year ago as its sales also moved lower. The retailer says it earned $13.0 million or 31 cents per diluted share for the quarter ended Jan. 28, down from a profit of $18.1 million or 42 cents per diluted share a year earlier. ... Read More »
Be the first to comment!Buyers return to Toronto housing market as prices climb after sluggish period: TRREB
By Tara Deschamps, The Canadian Press on April 5th, 2023
TORONTO – The Toronto Regional Real Estate Board says competition between buyers returned to the market last month as the average home price in the area ticked above the average list price for the first time since May 2022. The Ontario board found Wednesday that the average price of a home hit $1,108,606 last month ... Read More »
Be the first to comment!Competition Ltd.: Why major players dominate Canada’s business landscape
By Amanda Stephenson, The Canadian Press on April 5th, 2023
Runaway food prices. A massive day-long telecom outage that knocked out internet and phone service across the country. Flight delays, cancellations and stranded air travellers. What do all of these things have in common, in addition to being the causes of headaches for Canadians in the last 12 months? Some would say the answer is ... Read More »
Be the first to comment!S&P/TSX composite largely unchanged Tuesday, U.S. markets move lower
By Rosa Saba, The Canadian Press on April 4th, 2023
TORONTO – Canada’s main stock index was largely unchanged Tuesday as strength in telecom, technology, utilities and battery metals helped offset weakness in other sectors, while U.S. markets moved lower. The S&P/TSX composite index was down 2.52 points at 20,275.76. In New York, the Dow Jones industrial average was down 198.77 points at 33,402.38.The S&P ... Read More »
Be the first to comment!Scotiabank, CIBC emphasize financial stability at shareholder meetings
By The Canadian Press on April 4th, 2023
TORONTO – The heads of CIBC and Scotiabank kicked off this year’s round of shareholder meetings Tuesday by emphasizing their sound financial footing in the wake of several high-profile bank failures while also acknowledging they have more work to do. “Our bank is a resilient institution,” said CIBC chief executive Victor Dodig. “We have strong ... Read More »
Be the first to comment!Experts urge CRTC to take action forcing companies to provide cell service on TTC
By Sammy Hudes, The Canadian Press on April 4th, 2023
TORONTO – Amid calls for the Big Three telecommunications companies to provide wireless phone service on the TTC following a recent wave of violence, experts say the federal telecommunications regulator should force Rogers, Bell and Telus to use the subway system’s existing infrastructure. Ben Klass, a PhD candidate at Carleton University who researches telecommunications policy, ... Read More »
Be the first to comment!Canada Jetlines pauses domestic routes, plans to resume in the fall
By The Canadian Press on April 4th, 2023
TORONTO – Canada Jetlines has pressed pause on its domestic routes as the upstart airline refocuses its efforts on sun destinations and leasing its planes, but says it plans to resume in-country flights come fall. The carrier quietly halted its twice-weekly return trips between Toronto and Vancouver and Toronto and Calgary in January after launching ... Read More »
Be the first to comment!Court throws out gas pipeline’s West Virginia water permit
By The Associated Press on April 4th, 2023
CHARLESTON, W.Va. (AP) – A company building a long-delayed natural gas pipeline has lost a key water permit after a federal appeals court ruled that West Virginia didn’t adequately assess the impact of building the Mountain Valley Pipeline across streams and wetlands. Siding with environmental groups, the court said Monday the state Department of Environmental ... Read More »
Be the first to comment!Oil could be headed back to US$100 a barrel this year: Industry experts
By The Canadian Press on April 4th, 2023
TORONTO – Industry experts say oil prices could return to US$100 a barrel later this year, giving a significant boost to Canada’s energy sector. A surprise production cut of more than a million barrels per day unexpectedly announced by the Organization of Petroleum Exporting Countries and its allies (OPEC plus) on Sunday sent oil futures ... Read More »
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