June 17th, 2019

Business

Dollarama shares surge after boosting sales growth forecast for the year

By The Canadian Press on June 13th, 2019

MONTREAL – Dollarama Inc. shares surged more than 11 per cent Thursday after the discount retailer boosted its sales growth forecast for the year on hopes that its strategy to increase traffic and sales numbers pays off. The Montreal-based retailer’s shares gained $4.72 at $46.93 in early afternoon trading on the Toronto Stock Exchange. The ... Read More »

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Quebec developer to file rival bid for Transat before talks with Air Canada end

By Christopher Reynolds, The Canadian Press on June 13th, 2019

MONTREAL – A Quebec developer seeking to outbid Air Canada with a takeover proposal for Transat AT Inc. says he will hand a formal offer to the tour operator before Transat’s exclusive talks with Air Canada end on June 26. “We will file one, because they’e asking for one,” Group Mach Inc. chief executive Vincent ... Read More »

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Canada may need additional carbon taxes to meet its Paris targets, PBO says

By Christian Paas-Lang, The Canadian Press on June 13th, 2019

OTTAWA – Canada’s price on carbon will have to be five times what it is now if the country is to reach its Paris Agreement greenhouse-gas emissions targets just by charging for those emissions, Parliament’s budget watchdog says. The $20-a-tonne federal levy on fuels is set to rise to $50 a tonne by 2022. It ... Read More »

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Tankers struck near Strait of Hormuz amid Iran-US tensions

By Jon Gambrell, The Associated Press on June 13th, 2019

DUBAI, United Arab Emirates – Two oil tankers near the strategic Strait of Hormuz came under a suspected attack Thursday, setting one of them ablaze in the latest mysterious assault targeting vessels in a region crucial to global energy supplies amid heightened tension between Iran and the U.S. The U.S. Navy, which rushed in to ... Read More »

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HBC correcting merchandising misstep, managers get better tools: CEO

By David Paddon, The Canadian Press on June 13th, 2019

TORONTO – Shoppers at Hudson’s Bay stores may see more personnel on the floors at the busier locations later this year, and more upscale merchandise than last year, as the retailer’s management team works to revive the chain’s sales growth. Hudson’s Bay Co. chief executive Helena Foulkes told analysts Thursday that the Toronto-based company’s main ... Read More »

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Transat sees second-quarter profits fall as Air Canada takeover talks continue

By The Canadian Press on June 13th, 2019

MONTREAL – Transat AT Inc. said fuel prices and exchange rates contributed to a drop in year-over-year profits last quarter, that nonetheless beat analysts’ expectations amid higher revenues. The tour operator said net income attributable to shareholders fell 71 per cent to $2.27 million in the quarter ended April 30, down from $7.94 million in ... Read More »

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Energy sector helps lift stocks in Toronto, U.S. stock markets also move up

By The Canadian Press on June 13th, 2019

TORONTO – Gains in the energy sector helped Canada’s main stock index edge higher in late-morning trading. The S&P/TSX composite index was up 17.04 points at 16,244.28. In New York, the Dow Jones industrial average was up 17.36 points at 26,022.19. The S&P 500 index was up 4.03 points at 2,883.87, while the Nasdaq composite ... Read More »

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Crude oil production to reach 5.86 million barrels per day by 2035: CAPP

By The Canadian Press on June 13th, 2019

CALGARY – The Canadian Association of Petroleum Producers is projecting Canadian crude oil production will increase by 1.27 million barrels per day to 5.86 million by 2035. The association’s latest forecast predicts total production in Western Canada will reach 5.76 million barrels per day in 2035 compared with 4.36 million in 2018. Production in Eastern ... Read More »

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Canada may need higher carbon taxes to meet its Paris targets, PBO says

By The Canadian Press on June 13th, 2019

OTTAWA – Canada’s parliamentary budget watchdog says a higher price on carbon will be needed if Canada is to meet its Paris Agreement targets for greenhouse-gas emissions. A Parliamentary Budget Office report today says an extra price on carbon will be needed past 2023 to meet Canada’s targets, starting at $6 a tonne and rising ... Read More »

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Transat sees second-quarter profits plunge as Air Canada takeover talks continue

By The Canadian Press on June 13th, 2019

MONTREAL – Transat AT Inc. says fuel prices and exchange rates contributed to a major drop in year-over-year profits last quarter, which nonetheless beat analysts’ expectations amid higher revenues. The tour operator says it incurred an adjusted net loss of $6.31 million in the quarter ended April 30, down from a loss of $456,000 in ... Read More »

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Hexo plans to enter 8 U.S. states in 2020 with CBD products

By The Canadian Press on June 13th, 2019

GATINEAU, Que. – Cannabis company Hexo Corp. says it plans to launch hemp-derived CBD products in eight U.S. states in 2020 under Truss, its joint venture with Molson Coors Brewing Co. Hexo says it has secured a supply of 60,000 kilograms of hemp for extraction of CBD, the non-impairing compound which can be derived from ... Read More »

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