TORONTO, Nov 1 (Reuters) – Canada’s SNC-Lavalin Group Inc
, one of the world’s largest construction and
engineering companies, reported a quarterly loss on Friday as
cost overruns continued to hit results.
The Montreal-based company, which is trying to recover from
a far-reaching corruption scandal last year that toppled senior
executives, had warned of the loss in mid-October, when it
slashed its 2013 outlook for a second time.
TORONTO, Oct 31 (Reuters) – Canadian plane and train maker
Bombardier Inc reported a 15 percent fall in net
profit on Thursday, pressured by fewer aircraft orders and
deliveries in the third quarter and contract issues in its train
The results came in below expectations and sent shares
falling 8 percent on the Toronto Stock Exchange.
TORONTO, Oct 29 (Reuters) – U.S. discount retail chain
Target Corp said on Wednesday it expects to recover from
initial stumbles in its ambitious push into Canada and still hit
long-term growth targets.
Canada is still key to Target’s growth over the next five
years, executives said. While the company’s near-term outlook
remained cautious, Chief Financial Officer John Mulligan said
the retailer was expecting three to four percent total annual
sales growth through 2017.
TORONTO (Reuters) – Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz), the fast-growing retailer of premium workout clothes, has hired an executive from U.S. discount chain Kmart to lead its global merchandising and design team, but offered no news on its hunt for a chief executive.
In the wake of a costly and embarrassing recall of overly sheer yoga pants this spring, Lululemon has hired a handful of new senior managers, but its CEO search, begun in June, continues.
By Solarina Ho
(Reuters) – Canadian Pacific Railway (CP.TO: Quote, Profile, Research, Stock Buzz), Canada’s No. 2 rail operator, reported a greater-than-expected third-quarter profit on Wednesday as freight revenue hit a record and operating costs fell.
Industrial and consumer products – which include crude oil, fertilizer and sulfur, and grains – were among the biggest contributors to freight revenue growth.
TORONTO, Oct 22 (Reuters) – Canadian National Railway Co
, the focus of fresh scrutiny after one of its trains
derailed and caught fire last weekend, reported a bigger
third-quarter profit and record revenue on Tuesday, as it
announced a two-for-one stock split and share buyback plan.
The country’s largest rail operator, which also maintained
its 2013 profit forecast, said revenue was lifted by higher
freight volumes due to strong energy markets, market share gains
and a North American economic recovery.
CALGARY (Reuters) – A train carrying crude oil and liquefied petroleum gas derailed west of Edmonton, Alberta, on Saturday, causing an explosion and fire but no injuries, Canadian National Railway said on Saturday.
One rail car carrying liquefied petroleum gas on the westbound train exploded and three others also caught fire. Emergency crews battled the flames and worked to prevent the burning cars from triggering more explosions, a municipal authority spokesman said.
By Solarina Ho
(Reuters) – Bombardier Inc’s (BBDb.TO: Quote, Profile, Research, Stock Buzz) on Friday named Chinese leasing firm, CDB Leasing Co Ltd as the buyer of up to conditionally 30 of its all-new CSeries jetliner.
Bombardier said CDB had put in a conditional order for five CS100 and 10 of the larger CS300 in July 2012, although at the time it did not identify the buyer. CDB optioned another five CS100 and 10 CS300 planes, Bombardier said on Friday.
TORONTO, Oct 10 (Reuters) – The Ontario government is
dropping plans to build two new nuclear plants and will focus on
refurbishing its aging facilities instead, the Canadian
province’s energy minister said on Thursday.
Energy Minister Bob Chiarelli said new nuclear stations will
not be part of Ontario’s formal review of its long-term energy
plan, which will be finalized before the end of the year.
TORONTO (Reuters) – The Bangladesh garment factory hit by a fire that killed at least nine people and injured some 50 more on Tuesday had manufactured clothing for western retailers including Hudson’s Bay Co, the department store operator confirmed.
The fire originated in the knitting section of an Aswad Composite Mills factory.