June 16th, 2021

Business

BRP reports $244.4M Q1 profit, raises full-year guidance despite supply chain issues

By The Canadian Press on June 3rd, 2021

VALCOURT, Que. – Supply chain issues in the recreational vehicle industry are impacting BRP Inc.’s product delivery timelines, but the company says it’s still on track to deliver its target full year volume. During its latest quarterly review on Thursday, the Valcourt, Que.-based company said it was facing tight availability for certain materials and parts, ... Read More »

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Saputo reports $103.1M Q4 profit, up from $88.7M a year ago, revenue down

By The Canadian Press on June 3rd, 2021

MONTREAL – Saputo Inc. reported a profit of $103.1 million in its latest quarter, up from a profit of $88.7 million in the same quarter last year, as its revenue fell 7.5 per cent. The cheese and dairy producer says the profit amounted to 25 cents per diluted share for the quarter ended March 31, ... Read More »

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S&P/TSX composite up in late-morning trading, U.S. stock markets mixed

By The Canadian Press on June 3rd, 2021

TORONTO – Gains in the financial, industrial and health care sectors helped lift Canada’s main stock index higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX composite index was up 12.18 points at 19,983.33. In New York, the Dow Jones industrial average was up 19.93 points at 34,620.31. The S&P 500 index ... Read More »

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US service sector growth surges in May

By Matt Ott, The Associated Press on June 3rd, 2021

SILVER SPRING, Md. (AP) – Growth in the services sector, where most Americans work, hit an all-time high in May as people flock to bars, restaurants and other venues across the country that now have fewer or no pandemic-related capacity restrictions. The Institute for Supply Management said Thursday that its monthly survey of service industries ... Read More »

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Twitter launches first paid subscription in Canada, Australia

By Tara Deschamps, The Canadian Press on June 3rd, 2021

TORONTO – Canadians will be among the first Twitter users with access to a host of new features, but for the first time the offerings will come with a fee. The San Francisco-based tech giant unveiled Twitter Blue – its first paid subscription product – on Thursday. The long-rumoured offering will cost $3.49 a month ... Read More »

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North American stock markets down in early trading, loonie down

By The Canadian Press on June 3rd, 2021

TORONTO – Canada’s main stock index was down in early trading amid losses in the base metal and energy sectors, while U.S. stock markets also moved lower. The S&P/TSX composite index was down 18.50 points at 19,952.65. In New York, the Dow Jones industrial average was down 209.63 points at 34,390.75. The S&P 500 index ... Read More »

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1st cruise ship sails through Venice since start of pandemic

By Colleen Barry, The Associated Press on June 3rd, 2021

SOAVE, Italy (AP) – Early risers in Venice were surprised Thursday to see a cruise ship nosing down the Giudecca canal for the first time since the start of the pandemic, despite repeated government pledges to reroute such huge vessels due to safety and environmental concerns. The 92,409-ton MSC Orchestra passed through the basin in ... Read More »

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Feds give $5.8M to Elevate for skills program targeting underrepresented groups

By The Canadian Press on June 3rd, 2021

TORONTO – The federal government says it will invest more than $5.8 million on a new program helping job seekers from underrepresented communities reskill and find employment in Ontario. The program will be called Elevate Talent and will be run by Elevate, a Toronto technology conference that launched an innovation hub with year-round programming during ... Read More »

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Bell Canada signs 5G network deal with Amazon Web Services

By The Canadian Press on June 3rd, 2021

MONTREAL – Bell Canada has signed a deal with Amazon Web Services Inc. to boost its 5G network capabilities. Under the deal, Bell will embed AWS computing and storage services at the edge of its 5G network. The new high-speed 5G networks that companies are building are expected to support a wide range of new ... Read More »

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US productivity growth unrevised at 5.4% rate in Q1

By Martin Crutsinger, The Associated Press on June 3rd, 2021

WASHINGTON (AP) – U.S. productivity growth was unrevised at a 5.4% rate in the first three months of the year while labor costs rose at an even faster rate. The first quarter gain in productivity was unchanged from the initial estimate a month ago, the Labor Department reported Thursday. The 5.4% gain at a seasonally ... Read More »

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US jobless claims drop to 385,000, another pandemic low

By Paul Wiseman, The Associated Press on June 3rd, 2021

WASHINGTON (AP) – The number of Americans seeking unemployment benefits fell last week for a fifth straight week to a new pandemic low, the latest evidence that the U.S. job market is regaining its health as the economy further reopens. The Labor Department said Thursday that jobless claims dropped to 385,000, down 20,000 from the ... Read More »

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