Business
Ottawa injects another $36M into vaccine injury compensation fund
By Laura Osman, The Canadian Press on April 24th, 2024
OTTAWA – The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020. The program was announced shortly after COVID-19 shots first became available to the public, and provides financial compensation to people who were adversely effected by ... Read More »
Be the first to comment!Senate passes bill forcing TikTok’s parent company to sell or face ban, sends to Biden for signature
By Haleluya Hadero, The Associated Press on April 23rd, 2024
WASHINGTON (AP) – The Senate passed legislation Tuesday that would force TikTok’s China-based parent company to sell the social media platform under the threat of a ban, a contentious move by U.S. lawmakers that’s expected to face legal challenges and disrupt the lives of content creators who rely on the short-form video app for income. ... Read More »
Be the first to comment!CN Rail on track for growth this year, despite Red Sea shipping obstacles: CEO
By Christopher Reynolds, The Canadian Press on April 23rd, 2024
MONTREAL – A stable economic outlook and rising cargo volumes bode well for Canadian National Railway Co. this year, executives said, despite the Red Sea crisis dampening container figures on the East Coast. “We’re seeing momentum building,” CEO Tracy Robinson told analysts on a conference call Tuesday. “The team is gelling, the operation is performing ... Read More »
Be the first to comment!An ‘ambitious’ global plastic treaty demands limits on production, Guilbeault says
By Mia Rabson, The Canadian Press on April 23rd, 2024
OTTAWA – A global treaty to end plastic waste will not be ambitious enough if it does not include some limits on plastic production, Environment Minister Steven Guilbeault said Tuesday as the fourth round of negotiations kicked off in Ottawa. The scientific evidence shows that reducing the amount of plastic that’s produced is the only ... Read More »
Be the first to comment!West Fraser Timber earns US$35 million in first quarter, up from loss last year
By The Canadian Press on April 23rd, 2024
VANCOUVER – West Fraser Timber Co. says it earned US$35 million in its first quarter, up from a loss of US$42 million a year earlier. Earnings per diluted share were 42 cents US, compared with a loss of 52 cents during the same quarter last year. The Vancouver-based company says sales totalled US$1.63 billion, unchanged ... Read More »
Be the first to comment!Tesla 1Q profit falls 55%, but stock jumps as company moves to speed production of cheaper vehicles
By Tom Krisher And David Hamilton, The Associated Press on April 23rd, 2024
Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would move up production of new, more affordable vehicles. The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Investors and ... Read More »
Be the first to comment!First Quantum reports US$159 million loss in Q1, says balance sheet shored up
By The Canadian Press on April 23rd, 2024
TORONTO – First Quantum Minerals Ltd. says it lost US$159 million in its first quarter, down from profits of US$75 million a year earlier. However, it’s a shallower loss than the US$1.45 billion First Quantum reported in the previous quarter. CEO Tristan Pascall says the successful completion of a comprehensive refinancing package during the quarter ... Read More »
Be the first to comment!Most actively traded companies on the Toronto Stock Exchange
By The Canadian Press on April 23rd, 2024
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (22,011.72, up 139.76 points): Enbridge Inc. (TSX:ENB). Energy. Down two cents, or 0.04 per cent, to $48.41 on 13.4 million shares. Barrick Gold Corp. (TSX:ABX). Mining. Up 29 cents, or 1.29 per cent, to $22.80 on 8.3 ... Read More »
Be the first to comment!S&P/TSX composite rises, U.S. stock markets also climb ahead of tech earnings
By Rosa Saba, The Canadian Press on April 23rd, 2024
TORONTO – Canada’s main stock index rose nearly 140 points Tuesday, led by strength in technology stocks, while U.S. stock markets also climbed. The rally was led by technology stocks, with the Nasdaq rising 1.6 per cent. That’s likely in anticipation of earnings reports around the corner from some of the biggest tech names, said ... Read More »
Be the first to comment!Tesla’s first-quarter net income tumbles 55% as falling global sales and price cuts reduce profits
By Tom Krisher, The Associated Press on April 23rd, 2024
Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins. The Austin, Texas, company said it made $1.13 billion from January through March compared with $2.51 billion in the same period a year ago. Revenue was $21.3 billion, down 9% from last ... Read More »
Be the first to comment!CN Rail profits fall alongside container shipment revenue
By The Canadian Press on April 23rd, 2024
MONTREAL – Canadian National Railway Co. says earnings slid last quarter amid higher labour costs and lower revenue from container shipments. The country’s largest railroad operator is reporting that net income feel nearly 10 per cent to $1.10 billion in the three months ended March 31 versus $1.22 billion in the same period a year ... Read More »
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