April 26th, 2024

Business

Corus CEO hopeful TV advertisers will return as company posts $9.8M Q2 loss

By Sammy Hudes, The Canadian Press on April 12th, 2024

TORONTO – Despite a drop in advertising revenue, the chief executive of Corus Entertainment Inc. says he is confident the television and radio broadcaster can draw advertisers back as it focuses more on growing digital and streaming audiences. The company reported a loss attributable to shareholders of $9.8 million in its latest quarter compared with ... Read More »

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Liberals say their plan to ‘solve the housing crisis’ will build 3.9M homes by 2031

By Nojoud Al Mallees, The Canadian Press on April 12th, 2024

OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. “Today we are releasing the most comprehensive and ambitious housing plan ever seen in Canada,” ... Read More »

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Stormy weather, ‘sluggish’ spending push MTY Food Group’s Q1 profits, revenue down

By Tara Deschamps, The Canadian Press on April 12th, 2024

Inclement weather and “sluggish” consumer spending delivered a double whammy to MTY Food Group Inc. in its first quarter, pushing the fast-food chain owner’s profits down from a year ago. The Montreal-based restaurant owner, whose collection of brands includes Thai Express, Manchu Wok, Mucho Burrito and Cold Stone Creamery, reported a profit of $17.3 million ... Read More »

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Liberals release plan to ‘solve the housing crisis,’ branding it as a call to action

By Nojoud Al Mallees, The Canadian Press on April 12th, 2024

OTTAWA – The federal Liberals have unveiled their plan to solve the housing crisis, building on recent announcements with new tax incentives, more than a billion dollars for homelessness and a country-wide effort to build more housing on public lands. The 28-page document, which comes days ahead of the federal budget, is the minority government’s ... Read More »

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US consumer sentiment falls slightly as outlook for inflation worsens

By Christopher Rugaber, The Associated Press on April 12th, 2024

WASHINGTON (AP) – Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this month, down from March’s figure of 79.4. Sentiment is about halfway between its ... Read More »

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March home sales, average price rise from year ago: CREA

By The Canadian Press on April 12th, 2024

OTTAWA – The Canadian Real Estate Association says the number of home sales in March rose 1.7 per cent compared with a year ago. The increase came as the average price of a home sold last month amounted to $698,530, up two per cent from March 2023. On a month-over-month basis, CREA says home sales ... Read More »

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JPMorgan again warns investors about “uncertain” year ahead. Big banks issue mixed profit reports

By Ken Sweet, The Associated Press on April 12th, 2024

NEW YORK (AP) – JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions. The remarks came as JPMorgan – as well as its major competitors Citigroup and Wells Fargo – reported their first quarter results. JPMorgan had ... Read More »

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Toronto airports authority announces ‘decade-long investment’ in Pearson Airport

By Rosa Saba, The Canadian Press on April 12th, 2024

Toronto’s airports authority has announced a multibillion-dollar plan to update and modernize Toronto Pearson Airport. The Greater Toronto Airports Authority said it launched the first phase of procurement for Pearson LIFT, a plan intended to help the airport meet growing demand for its services. “This is the very beginning of what will be a decade-long ... Read More »

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Corus reports $9.8M Q2 loss compared with $15.5M loss a year ago, revenue down

By The Canadian Press on April 12th, 2024

TORONTO – Corus Entertainment Inc. reported a loss attributable to shareholders of $9.8 million in its latest quarter compared with a loss of $15.5 million a year earlier as its revenue fell 13 per cent. The television and radio broadcaster says the loss amounted to five cents per diluted share for the quarter ended Feb. ... Read More »

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MTY Food Group reports Q1 profit and revenue down from year ago

By The Canadian Press on April 12th, 2024

MONTREAL – MTY Food Group Inc. reported its first-quarter profit fell compared with a year earlier as its revenue also declined. MTY chief executive Eric Lefebvre says the results were hurt by reduced consumer spending and extreme weather, primarily in the first six weeks of 2024. The restaurant franchisor and operator reported a profit of ... Read More »

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Walmart Canada says robots are coming to two Ontario warehouses, but jobs not at risk

By Tara Deschamps, The Canadian Press on April 12th, 2024

In a Calgary warehouse almost as big as eight football fields, an army of robots whir about, carrying massive quantities of merchandise bound for Walmart Canada customers. Some of the robots zip around the hulking facility transporting pallets of merchandise fresh off delivery trucks. Another resembling a giant arm moves the pallets onto conveyor belts. ... Read More »

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