Correspondent, Toronto, Canada
Alastair's Feed
Mar 3, 2015

TSX slips as banks weigh; energy a lone bright spot

TORONTO, March 3 (Reuters) – Canada’s main stock exchange
retreated on Tuesday in a broad decline led by financial stocks
including Bank of Nova Scotia, which reported a
lower-than-expected quarterly profit.

The energy sector, which has fallen in recent months as the
price of crude oil has sunk, was the only one of
10 main groups on the index to make a positive move on the day.

Mar 3, 2015

Canada GDP data shows economy heading in right direction -Oliver

TORONTO, March 3 (Reuters) – Canada’s stronger-than-expected
growth figures for the fourth quarter show the economy is
heading in the right direction, Finance Minister Joe Oliver told
Reuters on Tuesday.

Oliver, speaking on the sidelines of an event in Toronto,
also repeated a promise to balance the budget in 2015/16 despite
an oil-price slump that has cut government revenues.

Feb 25, 2015

TSX higher on Hudson’s Bay surge, banks gain too

TORONTO, Feb 25 (Reuters) – Canada’s main stock index gained
on Wednesday as Hudson’s Bay Co surged on a plan to
carve out its real estate assets and banking stocks rose after
Royal Bank of Canada and National Bank of Canada
posted solid earnings.

HBC said it will form two real estate joint ventures that
will bring in about C$1.1 billion ($890 million) in cash. The
stock shot up 19.7 percent to C$26.57.

Feb 25, 2015

Toronto police baffled by mystery tunnel with rosary nailed to wall

TORONTO (Reuters) – A mysterious tunnel discovered in Toronto near one of the venues for this summer’s Pan American Games contained a rosary with a crucifix and poppy, and did not appear to be linked to criminal activity, police said on Tuesday.

Police said they had no idea who built the tunnel or why, saying “there’s nothing illegal about digging a hole” as they appealed for information from the public.

Feb 24, 2015

Toronto mystery tunnel had rosary nailed to wall, police say

TORONTO (Reuters) – A mysterious tunnel discovered in Toronto near one of the venues for this summer’s Pan American Games contained a rosary with a crucifix and poppy, and there is nothing to suggest the tunnel was linked to criminal activity, police said on Tuesday.

The hand-dug tunnel, which ran for about 10 meters (33 feet) and was large enough for an adult to stand in, was discovered Jan. 14 in a wooded area near Rexall Centre, a tennis stadium at York University that will be used for the Pan Am games in July.

Feb 18, 2015

Oil price fall leads to first TSX slip in 6 sessions

TORONTO, Feb 18 (Reuters) – Canada’s main stock index
slipped on Wednesday, its first decline in six sessions, as
shares of oil and gas companies were weighed down by the
stalling momentum of a recent rally in the price of oil.

Investors took some comfort from the minutes of the U.S.
Federal Reserve’s last meeting, which showed policymakers were
concerned about raising interest rates too quickly.

Feb 13, 2015
Feb 12, 2015

TSX shrugs off insurer gloom; banks and energy lead

TORONTO, Feb 12 (Reuters) – Big insurers weighed on Canada’s
main stock index on Thursday, but major banks and blue-chip
energy companies pushed the market higher as crude oil prices
rallied.

Shares in Manulife Financial and Sun Life Financial
slipped after the insurers reported disappointing
quarterly results. Manulife was
off 2.3 percent at C$21.33 while smaller rival Sunlife fell 6.5
percent to C$39.23.

Feb 12, 2015
Feb 12, 2015

Telus makes gains in wireless, sees solid 2015 growth

TORONTO, Feb 12 (Reuters) – Telus Corp, one of
Canada’s three dominant telecommunications companies, reported
an 8 percent rise in quarterly profit on Thursday and forecast
solid revenue and earnings growth in 2015.

The Vancouver-based company’s results overcame fears the
wireless industry is slowing as Telus added 118,000 postpaid
wireless customers, who typically spend more than those who
prepay for service, in the fourth quarter. It said it expects
wireless earnings to increase 3-7 percent this year.

    • About Alastair

      "Canada tech, media and telecoms reporter based in Toronto, with emphasis on Research In Motion and including coverage of Rogers, Bell Canada, Telus, the new mobile entrants and the tech companies filling in the gaps. Previously spent two years in Cairo bureau chasing Orascom Telecom's Naguib Sawiris. Prior to that, spent a year learning the ropes in London."
      Joined Reuters:
      2007
      Languages:
      English, Arabic
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