Business
Applications for jobless aid rise last week, but remain low
By Matt Ott, The Associated Press on February 9th, 2023
More Americans filed for jobless benefits last week, but layoffs remain historically low despite attempts by the Federal Reserve to cool the economy, and hiring, to bring down inflation. Applications for jobless aid in the U.S. for the week ending Feb. 4 rose by 13,000 last week to 196,000, from 183,000 the previous week, the ... Read More »
Be the first to comment!Bombardier reports US$241M fourth-quarter profit, revenue up from year ago
By The Canadian Press on February 9th, 2023
MONTREAL – Bombardier says it earned a fourth-quarter profit of US$241 million, up from US$238 million in the same quarter last year. The aircraft maker, which keeps its books in U.S. dollars, says the profit amounted to US$2.40 per diluted share for the quarter ended Dec. 31, up from US$2.34 per diluted share in the ... Read More »
Be the first to comment!Zelenskyy, in Brussels, urges EU to grant Ukraine membership
By Raf Casert And Samuel Petrequin, The Associated Press on February 9th, 2023
BRUSSELS (AP) – President Volodymyr Zelenskyy said Thursday that “a Ukraine that is winning” should become a European Union member, arguing the bloc wouldn’t be whole without his country being an integral part of the EU. Zelenskky made his comments during an address to the European Parliament on a rare trip outside Ukraine, which has ... Read More »
Be the first to comment!Cannabis company Canopy Growth to lay off 800, close and consolidate some facilities
By Tara Deschamps, The Canadian Press on February 9th, 2023
Canopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations. The Smiths Falls, Ont. cannabis company said Thursday that the layoff will impact 35 per cent of its workforce and take place over ... Read More »
Be the first to comment!Telus reports fourth-quarter profit down from year ago, revenue up
By The Canadian Press on February 9th, 2023
VANCOUVER – Telus Corp. reported its fourth-quarter profit fell compared with a year ago as its revenue climbed higher. The company says its net income attributable to common shares totalled $248 million or 17 cents per share for the quarter ended Dec. 31, down from $644 million or 47 cents per share a year earlier. ... Read More »
Be the first to comment!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 »
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