Business
Saputo Inc. sees earnings double in third quarter amid higher prices
By The Canadian Press on February 9th, 2023
MONTREAL – Saputo Inc. says its earnings for the latest quarter were $179 million, more than double its $86 million a year earlier as the company says it expects its earnings for the full fiscal year to make a meaningful recovery. The Montreal-based company says earnings per diluted share for its third quarter ended Dec. ... Read More »
1 responseAurora Cannabis records $67.2 million net loss in second quarter
By The Canadian Press on February 9th, 2023
EDMONTON – Aurora Cannabis Inc. says it incurred a $67.2 million net loss in its most recent quarter. The Edmonton-based cannabis company says the net loss in what was its second quarter compared with $75.1 million for the same period in the prior year. Aurora attributes the decrease in its net loss from the same ... Read More »
1 responseScotiabank says royalty credits for well cleanup would damage industry’s reputation
By The Canadian Press on February 9th, 2023
CALGARY – Scotiabank is warning that the Alberta government’s plan to give oil companies a royalty credit for cleaning up their old wells could damage the reputation of Canada’s oil and gas industry. Scotiabank said in a report Thursday that companies such as Canadian Natural Resources Ltd., Cenovus Energy Inc., Paramount Resources Ltd. and Whitecap ... Read More »
1 responseIndigo latest target in string of cyberattacks on Canadian businesses
By Brett Bundale, The Canadian Press on February 9th, 2023
A cybersecurity incident that knocked Indigo Books & Music Inc.’s website and electronic payment systems offline is the latest in a string of cyberattacks experts say are increasingly targeting Canadian businesses. “It’s really turned into the Wild West out there and companies are struggling,” Robert Falzon, head of engineering at Check Point Canada, said in ... Read More »
1 responseS&P/TSX composite reverses early gains to end lower, U.S. stock markets also down
By The Canadian Press on February 9th, 2023
TORONTO – Falling commodity prices and mixed corporate earnings helped push down Canada’s main stock index Thursday, while U.S. stock markets also fell. The S&P/TSX composite index ended down 81.79 points at 20,597.75 in a reversal from morning gains. In New York, the Dow Jones industrial average closed down 249.13 points at 33,699.88. The S&P ... Read More »
1 responseStocks fall after Wall Street’s morning rally evaporates
By Stan Choe, The Associated Press on February 9th, 2023
NEW YORK (AP) – Stocks closed lower following another mixed batch of profit reports from companies, as rising yields in the bond market raise the pressure on Wall Street. The S&P 500 fell 0.9% Thursday after erasing a gain of about the same size from the morning. The Dow lost 0.7% and the Nasdaq gave ... Read More »
Be the first to comment!Telus sees earnings, revenue gains ahead as it pulls back on spending
By The Canadian Press on February 9th, 2023
VANCOUVER – Telus Corp. expects a big bump in free cash flow as well as double-digit gains in revenue and earnings in the year ahead as it winds down a major broadband build out and works to maximize benefits from acquisitions including in its health division. The company said Thursday it expects free cash flow ... Read More »
Be the first to comment!Canadian Pacific Railway reaches deal with workers represented by Steelworkers
By The Canadian Press on February 9th, 2023
CALGARY – Canadian Pacific Railway Ltd. says it has reached a tentative agreement with the union representing about 550 administrative support and intermodal employees in Canada. The railway says terms of the tentative agreement with United Steelworkers Local 1976 would not be released publicly until the contract has been ratified. CP chief executive Keith Creel ... Read More »
Be the first to comment!CPP Investments earned 1.9 per cent net return for third quarter
By The Canadian Press on February 9th, 2023
TORONTO – The Canada Pension Plan Investment Board says it earned a net return of 1.9 per cent for its third quarter. Chief executive John Graham says the gains came due to a rebound in public equity markets, while the fund’s private asset values remained relatively flat. The county’s largest pension fund manager says its ... Read More »
Be the first to comment!Debit card left during Florida robbery leads to arrest
By The Associated Press on February 9th, 2023
PALM COAST, Fla. (AP) – Crime might not pay, but authorities say a criminal tried to. Authorities arrested a Florida man who they said broke into a convenience store and took a few items, although he left his debit card behind. In a video Flagler County Sheriff Rick Staly posted to Facebook, the suspect told ... Read More »
Be the first to comment!Precision Drilling reports $3.5M Q4 profit, revenue up more than 70 per cent
By The Canadian Press on February 9th, 2023
CALGARY – Precision Drilling Corp. reported a fourth-quarter profit of $3.5 million compared with a loss of $27.3 million a year ago as its revenue rose more than 70 per cent. The company says the profit amounted to 27 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $2.05 ... Read More »
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