Business
Ford to raise production as US auto sales start to recover
By The Associated Press on March 3rd, 2023
DEARBORN, Mich. (AP) – Ford will increase production of six models this year, half of them electric, as the company and the auto industry start to rebound from sluggish U.S. sales in 2022. The automaker announced Friday that it plans to build more of the Mustang Mach-E, the Bronco Sport SUV and Maverick small pickup, ... Read More »
1 responseMall landlords likely to get ‘creative’ to fill Nordstrom vacancies: experts
By Tara Deschamps, The Canadian Press on March 3rd, 2023
TORONTO – Nordstrom’s departure from Canada’s retail landscape will leave significant holes in shopping malls, and some analysts say landlords will need to get creative to fill the space. If malls want to find similar tenants to Nordstrom, they might look to department store rivals Hudson’s Bay, Simons or Saks Fifth Avenue, said Tamara Szames, ... Read More »
1 responseSNC-Lavalin launches strategic review, tries to put cash-draining contracts behind it
By Christopher Reynolds, The Canadian Press on March 3rd, 2023
MONTREAL – SNC-Lavalin Group Inc. saw fixed-price construction contracts drag down its results in its latest quarter, even as the company continues to pivot away from the loss-prone sector and undertakes a strategic review with an eye to optimizing its various businesses. The engineering firm reported a $54.4-million loss from continuing operations attributable to shareholders ... Read More »
1 responseAmazon pauses construction on 2nd headquarters in Virginia
By Haleluya Hadero, The Associated Press on March 3rd, 2023
NEW YORK (AP) – Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and shifting landscape of remote work. The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in Northern Virginia, said John Schoettler, Amazon’s ... Read More »
1 responseWhat is LockBit, the malicious software used against Indigo, SickKids?
By Tara Deschamps, The Canadian Press on March 3rd, 2023
TORONTO – Indigo Books & Music Inc. revealed this week that a massive systems outage it’s been dealing with for almost a month was triggered by ransomware. The retailer, which lost access to its website and payments capabilities, said the attack deployed LockBit, a malicious software increasingly cropping up in digital security breaches. What is ... Read More »
Be the first to comment!Mall landlords might have to get creative to fill Nordstrom vacancies: expert
By The Canadian Press on March 3rd, 2023
TORONTO – Nordstrom’s summer departure from Canada’s retail landscape will leave massive holes in malls that some analysts say landlords will have to get creative to fill. If malls want to find similar tenants to Nordstrom, Tamara Szames says they might look to department store rivals Hudson’s Bay, Simons or Saks Fifth Avenue. But the ... Read More »
Be the first to comment!S&P/TSX composite up in broad-based rally, U.S. stock markets also higher
By The Canadian Press on March 3rd, 2023
TORONTO – The base metal, utility and technology sectors helped lead a broad-based rally as Canada’s main stock index rose more than 150 points, while U.S. stock markets also climbed higher in late-morning trading. The S&P/TSX composite index was up 174.60 points at 20,511.81. In New York, the Dow Jones industrial average was up 159.22 ... Read More »
Be the first to comment!Parkland cancels plans to build stand-alone renewable diesel complex at B.C. refinery
By The Canadian Press on March 3rd, 2023
CALGARY – Parkland Corp. says it will not go ahead with its plan to build a stand-alone renewable diesel complex at its refinery in Burnaby, B.C. The company says it made the decision as it faced rising project costs, a lack of market certainty around emerging renewable fuels and legislation in the U.S. that advantages ... Read More »
Be the first to comment!Amazon pauses construction on second headquarter in Virginia
By Haleluya Hadero, The Associated Press on March 3rd, 2023
NEW YORK (AP) – Amazon is pausing construction of its second headquarters in Virginia following the biggest round of layoffs in the company’s history and shifting landscape of remote work. The Seattle-based company is delaying the beginning of construction of PenPlace, the second phase of its headquarters development in Northern Virginia, said John Schoettler, Amazon’s ... Read More »
Be the first to comment!Martinrea International reports $46.2M Q4 profit, sales up more than 20%
By The Canadian Press on March 3rd, 2023
TORONTO – Martinrea International Inc. reported a profit of $46.2 million in its latest quarter compared with a loss of nearly $9.7 million a year ago as its revenue rose more than 20 per cent. Martinrea chief executive Pat D’Eramo says the company expects 2023 to be a strong year with better production volumes, margins ... Read More »
Be the first to comment!Stocks tick higher, on pace for first winning week in last 4
By Joe Mcdonald And Matt Ott, The Associated Press on March 3rd, 2023
NEW YORK (AP) – Stocks are ticking higher as relaxing yields in the bond market take some pressure off Wall Street. The S&P 500 was 0.4% higher in early trading Friday. It’s on pace to close the week with a small gain, its first in the last four weeks, after finding some stability following a ... Read More »
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