February 19th, 2020

Business

Heroux-Devtek reports $8.7M Q3 profit, raises full-year sales guidance

By The Canadian Press on February 6th, 2020

LONGUEUIL, Que. – Heroux-Devtek Inc. reported a profit of $8.7 million in its latest quarter, up from $7.4 million in the same quarter a year earlier, and raised its full-year sales guidance. The maker of aircraft landing gear says its profit amounted to 24 cents per share for the quarter ended Dec. 31 compared with ... Read More »

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US productivity up 1.7% in 2019, best gain in 9 years

By Martin Crutsinger, The Associated Press on February 6th, 2020

WASHINGTON – U.S. productivity rebounded in the final three months of last year, helping to boost productivity growth for the year to the best showing in nearly a decade. The Commerce Department said Thursday that productivity grew at an annual rate of 1.4% in the October-December quarter, a significant improvement from a 0.2% drop in ... Read More »

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BCE picks Nokia as first 5G network supplier, raises dividend on higher profit

By David Paddon, The Canadian Press on February 6th, 2020

TORONTO – Bell Canada has signed its first 5G wireless network supplier agreement with Nokia of Finland, a global rival of China’s Huawei and Ericsson of Sweden. The parent of Bell Mobility, Virgin Mobile and Lucky Mobile said it’s ready to deliver initial fifth-generation service in urban centres across Canada this year, as 5G smartphones ... Read More »

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SNC-Lavalin Group announces three new nominees for board of directors

By The Canadian Press on February 6th, 2020

MONTREAL – SNC-Lavalin Group Inc. says the nomination of three new members to its board of directors is part of a renewal process for the company. In December, SNC-Lavalin was fined $280 million after its construction division pleaded guilty to fraud for actions taken in Libya between 2001 and 2011. Four current board members of ... Read More »

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BCE raises dividend, reports Q4 profit up more than 10 per cent from year ago

By The Canadian Press on February 6th, 2020

TORONTO – BCE Inc. raised its dividend as it reported its fourth-quarter profit grew more than 10 per cent compared with a year ago. The company says it will now pay a quarterly dividend of 83.25 cents per share, up from 79.25 cents per share. The increased payment came as BCE reported a profit attributable ... Read More »

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Is Canada’s GDP growth worse than half the G7? The Baloney Meter weighs in

By Jordan Press, The Canadian Press on February 6th, 2020

OTTAWA – “We look at our partners around the world and growth is higher in over half the G7 countries than it is here at home in Canada.” – Conservative Leader Andrew Scheer in the House of Commons, Feb. 3. — Andrew Scheer and Prime Minister Justin Trudeau tangled in Monday’s question period over the ... Read More »

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GTA home sales forecast to climb 10 per cent this year, January sales up 15.4%

By The Canadian Press on February 6th, 2020

TORONTO – The Toronto Regional Real Estate Board says January home sales were up 15.4 per cent from the same month last year, while it expects home sales for the year to rise about 10 per cent overall. January saw 4,581 home sales, up from 3,968 last year, while the average sales price of $839,363 ... Read More »

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Report: Emirates pilots unaware engines idle in 2016 crash

By Jon Gambrell, The Associated Press on February 6th, 2020

DUBAI, United Arab Emirates – The pilots of an Emirates flight that crashed in 2016 and caught fire in Dubai failed to realize the engines of their Boeing 777 remained idle as they tried to take off from a failed landing attempt, according to an investigative report released on Thursday. Without power from the engines ... Read More »

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Premiers bound for Washington to celebrate USMCA, beat back protectionism

By James McCarten, The Canadian Press on February 6th, 2020

WASHINGTON – A delegation of premiers will be in Washington this weekend to buttress cross-border business ties with their American counterparts, hedging their bets at the dawn of a new and uncertain era of managed North American trade. Saskatchewan Premier Scott Moe, this year’s chairman of the Council of the Federation, will lead a group ... Read More »

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China cuts tariffs on $75B of US imports in trade truce

By The Associated Press on February 5th, 2020

BEIJING – China on Thursday announced tariff cuts on $75 billion of U.S. imports in response to American reductions as part of their truce in a trade war. The Ministry of Finance said the reductions applied to tariffs imposed Sept. 1 as the two sides were ratcheting up their dispute over Beijing’s technology ambitions and ... Read More »

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Suncor Energy posts $2.3B loss as it writes down oilsands and offshore assets

By The Canadian Press on February 5th, 2020

CALGARY – Suncor Energy Inc. is reporting a net loss of $2.3 billion for the fourth quarter of 2019 due mainly to asset impairment charges of $3.3 billion. The Calgary company says about $2.8 billion of the charges are related to lower forecast oil prices for production from its Fort Hills oilsands mine in northern ... Read More »

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