February 18th, 2019

Business

Cineplex Q4 profit falls as theatre attendance declines; revenue up slightly

By The Canadian Press on February 15th, 2019

TORONTO – Cineplex Inc. says it had $27.2 million of net income in the fourth quarter, down from $28.8 million a year earlier, as attendance at its theatres declined. The Toronto-based entertainment company says the profit amounted to 43 cents per share, down from 45 cents per diluted share in fourth quarter of 2017. On ... Read More »

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Foreign exchange drags Air Canada to Q4 loss, but operating revenue up

By The Canadian Press on February 15th, 2019

MONTREAL – Air Canada says that negative changes to foreign exchange rates drove it to a $231-million net loss in the fourth quarter, but it would have otherwise turned a profit during the three-month period. The Montreal-based airline’s revenue was $4.24 billion, which was up from $3.82 billion a year earlier. Its net loss amounted ... Read More »

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Canopy Growth Q3 revenue soars but so does its loss from operations

By The Canadian Press on February 15th, 2019

SMITHS FALLS, Ont. – Canopy Growth Corp. says it generated $97.7 million of revenue in the three months ended Dec. 31, including its first sales of non-medical cannabis products, up from $21.7 million in the previous year’s fiscal third quarter. The Ontario-based company – one of Canada’s largest cannabis producers – recorded a loss from ... Read More »

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Ontario government promises ‘action’ if Hydro One doesn’t cut proposed CEO pay

By The Canadian Press on February 14th, 2019

TORONTO – Ontario’s energy minister says the government will take “any and all action necessary” if Hydro One doesn’t drastically cut its proposed CEO compensation, but the semi-private utility appears not to be budging. In a letter sent to Hydro One board chair Tom Woods on Wednesday, Energy Minister Greg Rickford says the provincial cabinet ... Read More »

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Israeli spyware company NSO is re-acquired by its founders

By The Associated Press on February 14th, 2019

JERUSALEM – An Israeli software firm known for its phone-surveillance technology said Thursday that it has been re-acquired by its founders. The NSO group announced that U.S.-based private equity firm Francisco Partners sold the company to its management, with support with the European private equity firm Novalpina Capital. The company did not reveal terms of ... Read More »

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Buffett’s firm tweaks stock portfolio, adds Suncor, Red Hat

By Josh Funk, The Associated Press on February 14th, 2019

OMAHA, Neb. – Billionaire Warren Buffett’s company has taken a new stake in Canadian firm Suncor Energy and trimmed its huge Apple stake. Berkshire Hathaway Inc. filed a quarterly update on holdings with the Securities and Exchange Commission on Thursday. The Omaha, Nebraska-based company said it owned 10.76 million Suncor shares at the end of ... Read More »

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Fairfax suffers fewer losses from Mother Nature despite higher wildfire claims

By The Canadian Press on February 14th, 2019

TORONTO – Fairfax Financial Holdings Ltd. says it sustained US$232.7 million in insurance losses resulting from Californian wildfires that struck the state last year. That compared with US$185.4 million of losses in 2017 from wildfires in the state. Overall catastrophe losses decreased 43 per cent to US$752.3 million in 2018 from US$1.3 billion in 2017. ... Read More »

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First Quantum swings to profit in Q4, major new mine begins processing ore

By The Canadian Press on February 14th, 2019

TORONTO – First Quantum Minerals Ltd. swung to a profit in the fourth quarter as it works to ramp up initial production at its big new copper mine in Panama. The Toronto-based copper miner, which reports in U.S. dollars, says adjusted net earnings came in at $198 million or 29 cents per share in the ... Read More »

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Liberals want quick results from new skills-training think-tank in Toronto

By Jordan Press, The Canadian Press on February 14th, 2019

OTTAWA – Federal efforts to calm anxiety about a rapidly changing job market took another step Thursday as the Liberals launched a new agency ahead of a federal budget that will put a heavy focus on skills training. The new “Future Skills Centre” job training centre – run by Ryerson University, The Conference Board of ... Read More »

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Lawyer says QuadrigaCX is out of money: ‘We don’t have anything’

By Michael MacDonald, The Canadian Press on February 14th, 2019

HALIFAX – Once one of Canada’s largest cryptocurrency exchanges, QuadrigaCX has now run out of money. “As of today, we don’t have anything,” Maurice Chiasson, a lawyer representing the insolvent Vancouver-based company admitted Thursday in Nova Scotia Supreme Court. Chiasson said more money was expected to be made available from Halifax resident Jennifer Robertson, the ... Read More »

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Precision Drilling soars on strong U.S. revenue, considers more rig moves

By Dan Healing, The Canadian Press on February 14th, 2019

CALGARY – Shares in Precision Drilling Corp. closed up almost 15 per cent Thursday on the Toronto Stock Exchange after it reported strong operational results from its U.S. branch in the fourth quarter. Shares in Precision traded as high as $3.30 before closing up 42 cents or 14.8 per cent at $3.25. It posted a ... Read More »

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