WestJet suspends Toronto-Montreal route for winter as it retreats from Eastern Canada
By The Canadian Press on October 4th, 2023
CALGARY – WestJet is halting flights between Toronto and Montreal for the winter in a continuation of its retreat from short-haul routes in Eastern Canada to retrench in the West. The route will be suspended for six months, starting late October and resuming in late April. WestJet spokeswoman Madison Kruger says the decision was made ... Read More »
Be the first to comment!Auto sales jump 19 per cent in September, driven by improved supply: DesRosiers
By The Canadian Press on October 4th, 2023
TORONTO – The new vehicle market remained hot in September, according to DesRosiers Automotive Consultants Inc., with vehicle sales jumping 19 per cent in the month on an annualized basis. However, the firm notes the sales numbers benefited from a weak year-over-year comparison — last year’s September sales were the weakest since 2009. Andrew King ... Read More »
Be the first to comment!S&P/TSX composite down as price of oil and energy stocks fall, U.S. stock markets up
By The Canadian Press on October 4th, 2023
TORONTO – Canada’s main stock index was down in late-morning trading as the price of oil fell and losses in energy stocks weighed on the market. The S&P/TSX composite index was down 56.87 points at 18,964.05. In New York, the Dow Jones industrial average was up 5.08 points at 33,007.46. The S&P 500 index was ... Read More »
Be the first to comment!Reason for rail outage still ‘under investigation’ after thousands stranded in GTA
By The Canadian Press on October 4th, 2023
MONTREAL – Questions remain around the root cause of the massive outage on CN Rail lines that delayed thousands of Toronto-area commuters for hours on Tuesday. In a statement that evening, Canadian National Railway Co. said the reason for the digital disruption was still under investigation. With its data unaffected, CN says there was no ... Read More »
Be the first to comment!BRP denies findings from labour board that it underpaid workers
By The Canadian Press on October 4th, 2023
VALCOURT, Que. – BRP Inc. says it disagrees with findings from Quebec’s workplace health and safety board that the snowmobile maker broke the law in underpaying workers it brought in to work at its plant in Quebec from a facility in Mexico. The company acknowledges the board found what it deemed 76 serious offences that ... Read More »
Be the first to comment!Aimia’s largest shareholder plans takeover bid for company
By The Canadian Press on October 4th, 2023
TORONTO – The largest shareholder of Aimia Inc. says it has become disillusioned and frustrated by the company’s board and management team, so it plans to make a bid to take Aimia private in a deal that values the company at about $308 million. Under the proposal, Mithaq Canada Inc., a wholly-owned subsidiary of Mithaq ... Read More »
Be the first to comment!Stock market today: Wall Street steadies after selloff as a relaxing bond market offers some oxygen
By Elaine Kurtenbach And Matt Ott, The Associated Press on October 4th, 2023
BANGKOK – Wall Street is holding steadier after the bond market relaxed its vise a bit on the stock market. The S&P 500 was 0.3% higher early Wednesdady, coming off a 1.4% tumble that sent it to its lowest level in four months. The Dow added 54 points a day after wiping out its gains ... Read More »
1 responseCannabis company Tilray Brands reports $55.9M Q1 loss, revenue up 15% from year ago
By The Canadian Press on October 4th, 2023
LEAMINGTON, Ont. – Tilray Brands Inc. reported a loss of US$55.9 million in its latest quarter compared with a loss of US$65.8 million a year earlier as its net revenue rose 15 per cent. The cannabis company, which keeps its books in U.S. dollars, says the loss amounted to 10 cents per diluted share for ... Read More »
1 responseClearco CEO relishes chance to transform firm as it lands new funding during downturn
By Tara Deschamps, The Canadian Press on October 4th, 2023
TORONTO – When Andrew Curtis took over Clearco, he had his work cut out for him. A downturn in the tech sector that hit companies big and small was well underway and financiers were so spooked they were tightening their purse strings and pausing the lofty deals they signed at a dizzying rate during the ... Read More »
Be the first to comment!Aimia’s largest shareholder makes takeover bid for company
By The Canadian Press on October 4th, 2023
TORONTO – The largest shareholder of Aimia Inc. says it has become disillusioned and frustrated by the company’s board and management team, so it has made a bid to take Aimia private in a deal that values the company at about $308 million. Under the proposal, Mithaq Canada Inc., a wholly-owned subsidiary of Mithaq Capital ... Read More »
1 responseSaudi Arabia says it will maintain production cuts that have helped drive oil prices up
By The Associated Press on October 4th, 2023
RIYADH, Saudi Arabia (AP) – Saudi Arabia on Wednesday confirmed that it will maintain a production cut of 1 million barrels of oil a day through the end of the year. The announcement could further prop up oil prices, which are hovering around $90 a barrel. Production cuts first announced by Saudi Arabia and Russia ... Read More »
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