May 11th, 2021

Business

Productivity rebounds at solid 5.4% rate in first quarter

By Martin Crutsinger, The Associated Press on May 6th, 2021

WASHINGTON – U.S. productivity posted a sharp rebound between January and March after falling in the previous quarter. Labor costs declined slightly. Productivity increased at an annual rate of 5.4% in the first quarter, recovering from a 3.8% rate of decline in the fourth quarter of last year, the Labor Department reported Thursday. Labor costs ... Read More »

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Canadian Natural reports $1.38B Q1 profit, record quarterly production

By The Canadian Press on May 6th, 2021

CALGARY – Canadian Natural Resources Ltd. reported a first-quarter profit of nearly $1.38 billion compared with a loss a year ago. The oilsands producer says the profit amounted to $1.16 per diluted share for the quarter ended March 31. The result compared with a loss of $1.28 billion or $1.08 per diluted share a year ... Read More »

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Bombardier on track to meet aircraft delivery target, railway sale boosts Q1 profit

By The Canadian Press on May 6th, 2021

MONTREAL – Bombardier Inc. says it is on track to meet its target for the delivery of 110 to 120 aircraft this year as it reported its latest financial results. The business jet maker, which keeps its books in U.S. dollars, says it earned net income of nearly US$5.1 billion or $2.03 per diluted share ... Read More »

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Cineplex reports Q1 loss as majority of theatres remain closed of under restrictions

By The Canadian Press on May 6th, 2021

TORONTO – Cineplex Inc. says it lost $89.7 million in its latest quarter as a majority of its theatres remained closed or under strict operating restrictions. The company says the loss amounted to $1.42 per diluted share for the quarter ended March 31. The result compared with a loss of $178.4 million or $2.82 per ... Read More »

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Magna reports Q1 profit more than doubles from year ago, sales up 18 per cereportsnt

By The Canadian Press on May 6th, 2021

AURORA, Ont. – Magna International Inc. reported a first-quarter profit of US$615 million, up from US$261 million a year ago as its sales rose 18 per cent. The Ontario-based auto parts company, which keeps its books in U.S. dollars, says its profit amounted to US$2.03 per diluted share, up from 86 cents per diluted share ... Read More »

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After months of speculation, long-awaited financial report drops today in N.L.

By The Canadian Press on May 6th, 2021

ST. JOHN’S, N.L. – A highly anticipated report that will offer recommendations on how Newfoundland and Labrador should manage its finances is set to drop in the provincial legislature today. The report will be delivered by Moya Greene, a St. John’s-born businesswoman who ran Canada Post and is known for privatizing Britain’s postal service. Premier ... Read More »

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Netflix series signals racial breakthrough in Italian TV

By Colleen Barry, The Associated Press on May 6th, 2021

MILAN – The Netflix series “Zero,” which premiered globally last month, is the first Italian TV production to feature a predominantly Black cast, a bright spot in an otherwise bleak Italian television landscape where the persistent use of racist language and imagery is sparking new protests. Even as “Zero” creates a breakthrough in Italian TV ... Read More »

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Gildan reinstates dividend after beating expectations with strong Q1 results

By The Canadian Press on May 5th, 2021

MONTREAL – Gildan Activewear Inc. reinstated its dividend as it swung to a US$98.5-million profit in the first quarter with help from a U.S. pandemic support program for cotton users. The Montreal-based company, reporting in U.S. dollars, says it earned 50 cents per diluted share for the three months ended March 31, compared with a ... Read More »

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Sun Life earns $937 million in Q1, takes charge for redefining role of office

By The Canadian Press on May 5th, 2021

TORONTO – Sun Life Financial Inc. says its net profit grew to $937 million in the first quarter as it recorded a restructuring charge related to redefining the role of the office. The Toronto-based insurer reported after markets closed Wednesday a net profit equal to $1.59 per diluted share for the period ended March 31, ... Read More »

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Manulife core earnings surge in Q1 on contribution from higher new business

By The Canadian Press on May 5th, 2021

TORONTO – Manulife Financial Corp. says its core net profits surged in the first quarter but overall net income attributed to shareholders was lower due to a steepening yield curve in North America. The insurer and financial services company says its core earnings were $1.63 billion or 82 cents per diluted share for the three ... Read More »

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