Business
Mullen Group reports $61.5M Q4 profit, up from $20.2M a year earlier
By The Canadian Press on February 9th, 2023
OKOTOKS, Alta. – Mullen Group Ltd. reported its fourth-quarter profit of $61.5 million, up from $20.2 million in the same quarter a year earlier, as its revenue for the quarter rose more than 10 per cent. The trucking and logistics company says the profit amounted to 62 cents per diluted share for the quarter ended ... Read More »
Be the first to comment!Report urges windfall tax to recover CEWS funds from large corporations
By The Canadian Press on February 9th, 2023
OTTAWA – A new report by the non-profit organization Canadians for Tax Fairness says Canada should institute a windfall tax on all large corporations to help recover some of the public funds awarded to businesses during the pandemic. The report examines 37 publicly listed companies that received the Canada Emergency Wage Subsidy (CEWS), a federal ... Read More »
Be the first to comment!Carbon capture too expensive, takes too long to build: Report
By Amanda Stephenson, The Canadian Press on February 9th, 2023
CALGARY – By betting it can solve its emissions problem with carbon capture and storage, Canada’s oil and gas industry risks saddling itself with expensive stranded assets, a new report argues. The report, released Thursday by the International Institute for Sustainable Development – a Winnipeg-based think-tank that focuses on climate and sustainable resource development – ... Read More »
Be the first to comment!Indigo says it is dealing with a ‘cybersecurity incident’ affecting online service
By The Canadian Press on February 8th, 2023
TORONTO – Indigo Books & Music Inc. says it is dealing with what it calls a “cybersecurity incident” that has affected online customer orders. Toronto-based Indigo said in a release Wednesday that it hopes to have its systems back online as soon as possible. In the meantime, the company says it can process orders paid ... Read More »
Be the first to comment!Freshii shareholders approve acquisition by Montreal-based Foodtastic
By The Canadian Press on February 8th, 2023
TORONTO – Freshii Inc. says its shareholders have approved the sale of the healthy fast-food chain to Montreal-based Foodtastic Inc. The deal, announced in December, will see franchisor Foodtastic add Freshii to its portfolio, joining Second Cup, Pita Pit, Milestones and other well-known food brands. Foodtastic will acquire Freshii at $2.30 per share in a ... Read More »
Be the first to comment!Sun Life Financial reports net income of $951 million for Q4 2022
By The Canadian Press on February 8th, 2023
TORONTO – Sun Life Financial Inc. says its net income in the fourth quarter of 2022 was $951 million, down 12 per cent from a year earlier. Earnings per share were $1.62, down from $1.83 in the fourth quarter of 2021. Earnings for the full year were $3.1 billion, down 22 per cent from 2021. ... Read More »
Be the first to comment!Canadian clothing companies lack awareness of child labour risks: Report
By The Canadian Press on February 8th, 2023
OTTAWA – The Canadian Ombudsperson for Responsible Enterprise says Canadian clothing companies have limited awareness about whether child labour could be being used in their global supply chains. The government institutionsays in a new report that Canadian garment companies face challenges tracing their supply chains from origin to consumer, and aren’t always aware of what ... Read More »
Be the first to comment!Residents can return after air deemed safe from derailment
By The Associated Press on February 8th, 2023
EAST PALESTINE, Ohio (AP) – Evacuated residents can safely return to the Ohio village where crews burned toxic chemicals after a train derailed five days ago near the Pennsylvania state line, East Palestine Fire Chief Keith Drabick said Wednesday. Authorities in East Palestine had warned that burning vinyl chloride that was in five of the ... Read More »
Be the first to comment!S&P/TSX composite drifts lower Wednesday, U.S. markets also down
By The Canadian Press on February 8th, 2023
TORONTO – Losses in tech, utilities and industrials weighed down gains in some of the other sectors on Canada’s main stock index Wednesday, while U.S. markets were also down. The S&P/TSX composite index was down 45.46 points at 20,679.54. In New York, the Dow Jones industrial average was down 207.68 points at 33,949.01. The S&P ... Read More »
Be the first to comment!Stocks fall on Wall Street, giving back recent gains
By Stan Choe And Damian J. Troise, The Associated Press on February 8th, 2023
NEW YORK (AP) – Wall Street gave back some of its recent gains as uncertainty about interest rates and inflation continued to reign. The S&P 500 fell 1.1% Wednesday, the Nasdaq fell 1.7% and the Dow Jones Industrial Average gave back 0.6%. The losses followed another mixed set of earnings reports. Chipotle Mexican Grill sank ... Read More »
Be the first to comment!BoC considered not raising rates last month, but hot economy swayed decision
By Nojoud Al Mallees, The Canadian Press on February 8th, 2023
OTTAWA – The Bank of Canada contemplated not raising interest rates last month but with the economy outperforming expectations, its governing council ultimately decided in favour of one more rate hike before taking a pause. In its first-ever summary of deliberations, the Bank of Canada pointed to a tight labour market, strong GDP growth and ... Read More »
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