TORONTO (Reuters) – Loblaw Cos Ltd, Canada’s largest grocer, will continue to produce clothing in Bangladesh after a deadly textile factory collapse on April 24, but promised to improve the facilities it uses there, Executive Chairman Galen Weston said on Thursday.
“I am deeply troubled. I am troubled that despite a clear commitment to the highest standards of ethical sourcing, our company can still be part of such an unspeakable tragedy,” Weston told reporters ahead of an annual meeting of Loblaw, the company behind the discount clothing brand, Joe Fresh.
TORONTO, May 2 (Reuters) – Loblaw Cos Ltd, Canada’s
largest grocer and the company behind the discount clothing
brand Joe Fresh, is committed to staying in Bangladesh, but will
take steps to improve facilities, its top executive said on
“I am deeply troubled. I am troubled that despite a clear
commitment to the highest standards of ethical sourcing, our
company can still be part of such an unspeakable tragedy,”
executive chairman Galen Weston said in a press conference ahead
of the company’s annual meeting.
TORONTO, May 2 (Reuters) – The Canadian dollar strengthened
against its U.S. counterpart on Thursday after the domestic
economy posted a surprise trade surplus, though the gain was
trimmed by greenback appreciation after a sharp fall in jobless
“The problem for the Canadian (dollar) … has been the fact
that at the same time, we saw a much better than expected
jobless claims number out of the U.S,” said Jeremy Stretch, head
of foreign exchange strategy at CIBC World Markets.
TORONTO, May 1 (Reuters) – Canada’s manufacturing activity
eked out the smallest of expansions in April after shrinking in
March but the sector did see an encouraging rise in new orders
from abroad, according to data released on Wednesday.
The RBC Canadian Manufacturing Purchasing Managers’ Index
was at 50.1 last month after adjusting for seasonal variation,
up from 49.3 in March. A reading above 50 represents expansion,
while a number below means contraction.