S&P/TSX composite down as oil falls, U.S. stock markets mixed ahead of Fed decision
By The Canadian Press on May 1st, 2024
TORONTO – Canada’s main stock index was lower in late-morning trading, weighed down by losses in the energy stocks as the price of oil fell, while U.S. stock markets were mixed ahead of the Federal Reserve’s interest rate decision this afternoon. The S&P/TSX composite index was down 60.70 points at 21,653.84. In New York, the ... Read More »
Be the first to comment!Canfor buying lumber mill in Arkansas from Domtar affiliate for US$73 million
By The Canadian Press on May 1st, 2024
VANCOUVER – Canfor Corp. says it has signed a deal with an affiliate of Domtar Corp. to buy its El Dorado lumber manufacturing facility in Arkansas for US$73 million. The facility in Union County, Ark., produces dimensional lumber and specialty wood products. Canfor says it expects production capacity at the mill to increase to 175 ... Read More »
Be the first to comment!CGI reports $426.9M profit in second quarter, up from $419.4M a year earlier
By The Canadian Press on May 1st, 2024
MONTREAL – CGI Inc. reported a second-quarter profit of $426.9 million, up from $419.4 million a year ago. The consulting firm says the profit amounted to $1.83 per diluted share for the quarter ended March 31, up from $1.76 per diluted share in the same quarter last year. Revenue totalled $3.74 billion, up from $3.72 ... Read More »
Be the first to comment!What marijuana reclassification means for the United States
By Jennifer Peltz And Lindsay Whitehurst, The Associated Press on May 1st, 2024
WASHINGTON (AP) – The U.S. Drug Enforcement Administration is moving toward reclassifying marijuana as a less dangerous drug. The Justice Department proposal would recognize the medical uses of cannabis, but wouldn’t legalize it for recreational use. The proposal would move marijuana from the “Schedule I” group to the less tightly regulated “Schedule III.” So what ... Read More »
Be the first to comment!Fortis reports $459M Q1 profit, up from $437M a year ago
By The Canadian Press on May 1st, 2024
ST. JOHN’S, N.L. – Fortis Inc. says it earned $459 million in its first quarter, up from $437 million in the same quarter last year. The gas and electric utility company says the profit amounted to 93 cents per share for the quarter ended March 31, up from 90 cents per share a year earlier. ... Read More »
Be the first to comment!Stantec acquires U.K. engineering form Hydrock, terms not disclosed
By The Canadian Press on May 1st, 2024
EDMONTON – Engineering firm Stantec Inc. says it has acquired Hydrock, an engineering design firm based in England. Financial terms of the deal that closed on Tuesday were not disclosed. Stantec says the addition of Hydrock and its 950 employees will increase its workforce in the United Kingdom by over 30 per cent. The Canadian ... Read More »
Be the first to comment!Cenovus reports Q1 profit up from year ago, raises quarterly base dividend
By The Canadian Press on May 1st, 2024
CALGARY – Cenovus Energy Inc. raised its dividend as it reported a first-quarter profit of $1.18 billion, up from $636 million a year ago. The company says it will now pay a quarterly base dividend of 18 cents per share, up from 14 cents per share. Cenovus also declared a variable dividend payment of 13.5 ... Read More »
Be the first to comment!Loblaw reports Q1 profit and revenue up from year ago, raises quarterly dividend 15%
By The Canadian Press on May 1st, 2024
BRAMPTON, Ont. – Grocery and drugstore retailer Loblaw Cos. Ltd. raised its quarterly dividend by 15 per cent as it reported its first-quarter profit and revenue rose compared with a year ago. The parent company of Loblaws and Shoppers Drug Mart says it will now pay a quarterly dividend of 51.3 cents per share, up ... Read More »
Be the first to comment!Barrick Gold reports Q1 profit and revenue up from year ago
By The Canadian Press on May 1st, 2024
TORONTO – Barrick Gold Corp. reported a first-quarter profit attributable to equity holders of US$295 million, up from US$120 million a year earlier. The gold miner, which keeps its books in U.S. dollars, says the profit amounted to 17 cents US per diluted share for the quarter ended March 31, up from seven cents US ... Read More »
Be the first to comment!It’s opening day for the $34 billion Trans Mountain oil pipeline expansion
By The Canadian Press on May 1st, 2024
CALGARY – Wednesday marks the official start date of the long-awaited $34-billion Trans Mountain oil pipeline expansion project. Crown corporation Trans Mountain Corp. says as of Wednesday, the expanded pipeline from Alberta to the B.C. coast will be transporting crude oil. The project involved twinning an existing pipeline that runs from Alberta to the B.C. ... Read More »
Be the first to comment!Cenovus teams with First Nations to build northern Alberta homes amid housing crisis
By Amanda Stephenson, The Canadian Press on May 1st, 2024
CHARD, Alta. – Raoul Montgrand, president of the Chard Métis Nation in northern Alberta, called a 200-square-foot camper trailer home for close to two years. The community leader and his wife were among the many residents affected by an ongoing housing crisis in the isolated hamlet, located about an hour-and-a-half drive southeast of Fort McMurray. ... Read More »
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