Business
MTY Food Group reports $7.1M Q4 profit, revenue up 65 per cent from year ago
By The Canadian Press on February 16th, 2023
MONTREAL – MTY Food Group Inc. reported a fourth-quarter profit of $7.1 million as the acquisition of BBQ Holdings helped its revenue rise 65 per cent compared with a year ago. The company, which franchises and operates restaurants under over 80 different banners, says its profit amounted to 29 cents per diluted share for the ... Read More »
Be the first to comment!Perk or necessity? Hybrid work expectations differ between employers, employees
By Brett Bundale, The Canadian Press on February 16th, 2023
For public relations executive Terance Brouse, the office is where creativity flows. On Mondays, Tuesdays and Wednesdays, employees at Maverick PR work from the firm’s office – a converted red brick Victorian home in Toronto’s Annex neighbourhood. “We come to the office on the same days because we need a quorum,” said Brouse, the firm’s ... Read More »
Be the first to comment!Cenovus reports $784M Q4 profit, CEO Alex Pourbaix to become executive chair
By The Canadian Press on February 16th, 2023
CALGARY – Cenovus Energy Inc. says chief executive Alex Pourbaix will become executive chair later this year, while chief operating officer Jon McKenzie will become chief executive. The company says the moves will take place after its annual meeting set for April 26. The announcement of the change in the executive suites came as the ... Read More »
Be the first to comment!Canadian Tire reports Q4 profit and revenue up from year ago
By The Canadian Press on February 16th, 2023
TORONTO – Canadian Tire Corp. Ltd. reported its fourth-quarter profit and sales were up compared with year ago. The retailer says it earned net income attributable to shareholders of $531.9 million or $9.09 per diluted share for the 13-week period ended Dec. 31, up from $508.5 million or $8.34 per diluted share a year earlier. ... Read More »
Be the first to comment!China sanctions Lockheed Martin, Raytheon for Taiwan sales
By The Associated Press on February 16th, 2023
BEIJING (AP) – China on Thursday imposed trade and investment sanctions on U.S. military contractors Lockheed Martin and Raytheon for supplying weapons to Taiwan, stepping up efforts to isolate the island democracy claimed by the ruling Communist Party as part of its territory. The companies are barred from importing goods into China or making new ... Read More »
Be the first to comment!Kinross reports loss of US$106 million in Q4, earnings of $31.9 million in 2022
By The Canadian Press on February 15th, 2023
TORONTO – Kinross Gold Corp. says it saw a loss of US$106 million from continuing operations in the fourth quarter of 2022, down from a loss of $66.2 million during the same quarter a year earlier. The company, which reports in U.S. dollars, says earnings for the full 2022 financial year were $31.9 million, up ... Read More »
1 responseNutrien sees 2022 earnings more than double despite softness in Q4
By The Canadian Press on February 15th, 2023
SASKATOON – Nutrien Ltd. says it earned $1.1 billion in the fourth quarter of 2022, down seven per cent from the same quarter a year earlier. Earnings per diluted share for the quarter ended Dec. 31 were $2.15, up from $2.11 a year earlier. The Saskatoon-based potash and fertilizer company says its earnings for the ... Read More »
Be the first to comment!Manulife net income slips in Q4 but up for 2022 as a whole
By The Canadian Press on February 15th, 2023
TORONTO – Manulife Financial Corp. says earnings slipped in the fourth quarter compared with a year earlier but rose for the full 2022 financial year. The insurance giant says net income attributable to shareholders came in at $1.89 billion for the fourth quarter, compared with $2.08 billion for the same quarter a year earlier. Net ... Read More »
Be the first to comment!Stocks eke out gains after blowout data on retail sales
By Stan Choe, The Associated Press on February 15th, 2023
NEW YORK (AP) – Stocks closed slightly higher on Wall Street after a report showed U.S. shoppers opened their wallets at stores last month by much more than expected. The S&P 500 eked out a gain of 0.3% Wednesday after erasing an early loss. The Dow was up slightly and the Nasdaq composite ended higher. ... Read More »
Be the first to comment!Barclays, once major funder, commits to stop financing oilsands
By The Canadian Press on February 15th, 2023
Barclays PLC, once a major oilsands funder, says it will no longer provide financing to the industry. The London-based bank had already set restrictions around oilsands financing that had cut its lending exposure to zero as of the end of 2022, while the policy update released Wednesday formalizes the ban that also excludes the financing ... Read More »
Be the first to comment!Shopify reports $623.6 million net loss in Q4, revenue up 26%
By The Canadian Press on February 15th, 2023
TORONTO – Shopify Inc. recorded a loss of US$623.6 million in its most recent quarter as revenue increased by 26 per cent since last year. The Ottawa-based e-commerce technology company says the net loss in what was its fourth quarter compared with a net loss of US$371.3 million during the same period the year before. ... Read More »
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