February 22nd, 2020

Business

China suspends more penalties on US goods after trade truce

By The Associated Press on February 21st, 2020

BEIJING – China on Friday suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington that threatened global economic growth. Financial markets have welcomed announcements by both sides of reductions in penalties on each other’s goods, though they have yet to resolve much of ... Read More »

Be the first to comment!

Statistics Canada reports retail sales virtually unchanged in December

By The Canadian Press on February 21st, 2020

OTTAWA – Statistics Canada says retail sales were virtually unchanged at $51.6 billion in December. The flat reading for the final month of the year followed growth of 1.1 per cent in November. Economists on average had expected an increase of 0.1 per cent for December, according to financial markets data firm Refinitiv. Sales were ... Read More »

Be the first to comment!

Enerplus reports $429.1M Q4 loss due to non-cash goodwill impairment charge

By The Canadian Press on February 21st, 2020

CALGARY – Enerplus Corp. reported a loss of $429.1 million in its latest quarter as it took a non-cash goodwill impairment charge related to its Canadian business. The company says the loss amounted to $1.93 per diluted share for the quarter ended Dec. 31 compared with a profit of $249.3 million or $1.02 per diluted ... Read More »

Be the first to comment!

Home Capital Group reports $37.2M Q4 profit, up from $35.8M a year ago

By The Canadian Press on February 21st, 2020

TORONTO – Home Capital Group Inc. reported a fourth-quarter profit of $37.2 million, up from $35.8 million in the same quarter a year earlier. The alternative mortgage lender says the profit amounted to 65 cents per share for the quarter ended Dec. 31 compared with a profit of 46 cents per share for the fourth ... Read More »

Be the first to comment!

Auto parts company Magna International raises dividend, tops estimates

By The Canadian Press on February 21st, 2020

AURORA, Ont. – Magna International Inc. raised its dividend as it reported a fourth-quarter profit attributable to the company of US$440 million. The auto parts maker says it will now pay a quarterly dividend of 40 cents per share, up from 36.5 cents per share. The increased payment to shareholders came as Magna says its ... Read More »

Be the first to comment!

Teck Resources reports Q4 loss, takes impairment charge on Fort Hills

By The Canadian Press on February 21st, 2020

VANCOUVER – Teck Resources Ltd. reported a loss in its latest quarter as it took an impairment charge related to its stake in the Fort Hills oilsands mine due to lower market expectations for future oil prices. The Vancouver-based miner says its loss attributable to shareholders amounted to $891 million or $1.62 per diluted share ... Read More »

Be the first to comment!

Royal Bank reports $3.5B first-quarter profit, raises quarterly dividend

By The Canadian Press on February 21st, 2020

TORONTO – Royal Bank of Canada raised its dividend as it reported a first-quarter profit of $3.5 billion. The bank says it will now pay a quarterly dividend of $1.08 per share, up from its previous payment to shareholders of $1.05 per share. RBC says its profit amounted to $2.40 per diluted share for the ... Read More »

Be the first to comment!

Wet’suwet’en chiefs to spend Friday with Mohawk supporters in Ontario

By The Canadian Press on February 21st, 2020

OTTAWA – A group of hereditary leaders from the Wet’suwet’en Nation in British Columbia is to spend the day with Mohawk supporters in Ontario. The B.C. hereditary chiefs are thanking the Mohawks for supporting them in opposition to a pipeline project on their traditional territory by blocking a critical rail line between Toronto and Montreal. ... Read More »

Be the first to comment!

1 trillion euros: EU leaders get into big fight over budget

By Raf Casert And Angela Charlton, The Associated Press on February 20th, 2020

BRUSSELS – European leaders argued into the early hours of Friday about how to spend and share some 1 trillion euros ($1.1 trillion) over the next seven years. Their first summit since Britain quit the EU last month has been bruising, long – and so far inconclusive. Gaps and resentments between wealthy and poorer members ... Read More »

Be the first to comment!

TekSavvy files Competition Bureau complaint seeking investigation of Bell, Rogers

By The Canadian Press on February 20th, 2020

CHATHAM, Ont. – TekSavvy Solutions Inc. says it has filed a complaint with the Competition Bureau seeking an investigation into how Bell Canada and Rogers Communications charge independent internet service providers. The company that bills itself as Canada’s largest independent internet service provider accuses the telecom giants of engaging in a pattern of anti-competitive activities ... Read More »

Be the first to comment!

Feds hope to meet with Wet’suwet’en chiefs and negotiate end to blockades

By Teresa Wright, The Canadian Press on February 20th, 2020

OTTAWA – Traditional chiefs from British Columbia at the heart of the Coastal GasLink pipeline protest are now in eastern Ontario, where federal cabinet ministers hope their proximity to the capital might mean a chance to sit down and talk about de-escalating the current impasse. Blockades raised by Indigenous people and other supporters of the ... Read More »

Be the first to comment!