Business
Metro raises dividend, reports Q1 profit and sales up from year ago
By The Canadian Press on January 24th, 2023
MONTREAL – Metro Inc. raised its quarterly dividend as it reported a profit of $231.1 million in its latest quarter, up from $207.7 million in the same quarter a year earlier. The grocery and drugstore retailer says it will now pay a quarterly dividend of 30.25 cents per share, up from 27.5 cents per share. ... Read More »
Be the first to comment!Element Fleet Management names CIBC exec Laura Dottori-Attanasio as next CEO
By The Canadian Press on January 24th, 2023
TORONTO – Element Fleet Management Corp. says president and chief executive Jay Forbes will retire this year and will be replaced by CIBC executive Laura Dottori-Attanasio. The company says Forbes will retire at the company’s annual meeting on May 10. Dottori-Attanasio, currently senior executive vice-president and group head for Canadian personal and business banking at ... Read More »
Be the first to comment!Grocery and drugstore retailer Metro reports Q1 profit and sales up from year ago
By The Canadian Press on January 24th, 2023
MONTREAL – Metro Inc. reported a profit of $231.1 million in its latest quarter, up from $207.7 million in the same quarter a year earlier, while its sales rose 8.2 per cent. The grocery and drugstore retailer says the profit amounted to 97 cents per diluted share for the 12-weeks ended Dec. 17, up from ... Read More »
Be the first to comment!Magna International says margins for 2022 will be lower than expected
By The Canadian Press on January 24th, 2023
TORONTO – Magna International Inc. says its margins for 2022 are expected to come in lower than it forecast. The auto parts company says its adjusted earnings before interest and taxes (EBIT) margin is expected to be about 4.3 per cent for 2022. The ratio of adjusted EBIT to total sales is below the range ... Read More »
Be the first to comment!World shares mixed after tech gains power Wall St rally
By Elaine Kurtenbach, The Associated Press on January 24th, 2023
BANGKOK (AP) – World stocks were mixed Tuesday after a Wall Street rally driven by heavy buying of tech shares as investors bet the Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation. Germany’s DAX edged 0.1% lower to 15,086.68 while the CAC 40 in Paris gained 0.2% to ... Read More »
Be the first to comment!Competition Bureau set to try to overturn Rogers-Shaw decision at Fed Appeal Court
By The Canadian Press on January 24th, 2023
OTTAWA – The fate of Rogers Communications Inc.’s proposed takeover of Shaw Communications Inc. goes before the Federal Court of Appeal today as the Competition Bureau seeks to overturn the Competition Tribunal’s decision approving the deal. In its appeal filings the Competition Bureau alleges the Tribunal made four legal errors, centred largely around how the ... Read More »
Be the first to comment!Asian shares rise, track Wall St gains as earnings ramp up
By Elaine Kurtenbach, The Associated Press on January 23rd, 2023
BANGKOK (AP) – Stocks were higher in Asia on Tuesday after a tech-led rally on Wall Street as investors bet the Federal Reserve will trim its rate hikes to tamp down inflation. Many markets in the region were closed for Lunar New Year holidays. A preliminary reading for manufacturing in Japan remained steady in January ... Read More »
Be the first to comment!Telus combines mobility and home service to create new business unit
By The Canadian Press on January 23rd, 2023
VANCOUVER – Telus Communications Inc. says it has merged its mobility and home service divisions to create a combined business unit called Telus Consumer Solutions. Telus says the change, which sees Mobility Solutions and Home Solutions & Consumer Excellence becoming one under the new title, represents the next chapter for the company. The company says ... Read More »
Be the first to comment!S&P/TSX composite gains 130 points, U.S. markets rally for second day in a row
By The Canadian Press on January 23rd, 2023
TORONTO – Canada’s main stock index posted a modest gain Monday while U.S. stock markets saw bigger growth, continuing Friday’s rally amid strength in the technology sector. The S&P/TSX composite index was up 128.37 points at 20,631.58. In New York, the Dow Jones industrial average was up 254.07 points at 33,629.56. The S&P 500 index ... Read More »
Be the first to comment!Wall Street rises as Fed rate move nears, earnings ramp up
By Stan Choe And Alex Veiga, The Associated Press on January 23rd, 2023
NEW YORK – Stocks closed higher on Wall Street as investors grow more convinced the Federal Reserve will keep downshifting the size of its rate hikes and as several major companies prepare to report their latest results. The S&P 500 rose 1.2% Monday. Tech companies led the way in a broad rally, pushing the Nasdaq ... Read More »
Be the first to comment!Discount grocers to outperform conventional stores as food prices surge: Report
By Brett Bundale, The Canadian Press on January 23rd, 2023
Discount grocery stores are expected to outshine their conventional counterparts in 2023 as shoppers seek out cheaper food to cope with staggering price increases, a new report released Monday said. The DBRS Morningstar commentary said surging inflation and interest rates are shaping consumer behaviour and increasing sales at lower-cost grocery stores. Consumer efforts to curtail ... Read More »
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