Oct 9 (Reuters) – Canadian pharmacy chain Jean Coutu Group
Inc reported a lower-than-expected quarterly profit on
Wednesday, hurt by ongoing regulations that have capped the
prices companies can charge for generic drugs.
The results sent shares down as much as 6 percent, though
the shares pared some of the losses by afternoon.
TORONTO (Reuters) – In a narrow, bustling street in Hong Kong’s trendy Soho district, a small Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz) test boutique is helping to lay the groundwork for what the premium yogawear maker sees as a promising avenue for growth.
The Canadian retailer is casting an eye on international markets even as it grapples with the demands of finding a new chief executive, mending a tarnished image after an embarrassing recall of overly sheer pants and pursuing expansion in the United States.
TORONTO, Oct 1 (Reuters) – Automakers sold a record number
of cars in Canada last month and pushed total vehicle sales
year-to-date to a new record, according to industry data
released on Tuesday, with Ford Motor Co’s Canadian unit
outselling all its competitors.
September auto sales beat the previous record by a sizable
margin, climbing 4.2 percent to 149,092, even as several major
automakers underperformed the industry. Total sales so far this
year climbed 3.5 percent to 1,350,756, also a record.
TORONTO, Sept 30 (Reuters) – SNC-Lavalin Group
wants to sell an equity stake in AltaLink, Alberta’s largest
regulated electricity transmission company, the Canadian
engineering and construction company said on Monday.
AltaLink, which owns more than half of Alberta’s
transmission grid, operates and maintains about 12,000
kilometers of transmission lines and 280 substations, serving 85
percent of the province’s population. It is wholly owned by SNC.
(Reuters) – Canada’s Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) and Indonesia’s Lion Air confirmed on Thursday the two companies are in talks over a possible deal for the planemaker’s new CSeries jets.
Lion Air’s chief executive and co-founder, Rusdi Kirana, said the airline was interested in buying the larger version of the narrow-body CS100 jet, which staged its maiden flight last week. Bombardier is aiming to break into a market dominated by Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) and Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz).
TORONTO (Reuters) – Top BlackBerry (BB.TO: Quote, Profile, Research, Stock Buzz) executives sold small blocks of the company’s stock on the day that the smartphone maker warned of a huge quarterly operating loss and massive job cuts, according to Canadian regulatory filings.
The filings showed that Chief Executive Thorsten Heins and Chief Financial Officer Brian Bidulka sold about 51.1 percent of their batches of newly vested shares on September 20, netting C$121,107.68 ($117,600) and C$40,386.79 ($39,200), respectively.
TORONTO, Sept 23 (Reuters) – Contract negotiations between
Canadian National Railway and the Teamsters union
appear to have stalled as CN demands changes that union
officials say could jeopardize the health and safety of workers.
The Teamsters Canada Rail Conference (TCRC) union, which
represents about 3,300 conductors, trainmen, yardmen and traffic
coordinators, said on Monday that CN Rail, Canada’s biggest
railway, is seeking to have members work longer hours, perform
more tasks when alone and have less rest time between trips.
OAKVILLE, Ontario (Reuters) – The Canadian government hopes BlackBerry Ltd will be able to make it on its own, Industry Minister James Moore said on Thursday.
His remarks come amid a backdrop of dwindling market share for the once-successful Canadian company, plans for a possible sale of the company and a recent report that it may shed a sizable number of its staff.
OAKVILLE, Ontario, Sept 19 (Reuters) – Ford Motor Co
said on Thursday it will invest C$700 million ($678 million) in
its Oakville assembly plant in Canada to boost North American
manufacturing capacity as demand in the region surges to
The company said the investment would increase its annual
spending on Canada-made auto parts by about C$200 million to
nearly C$4 billion.
TORONTO, Sept 18 (Reuters) – Ford Motor Co will
announce on Thursday that its Oakville, Ontario, plant will
assemble the next generation of the Edge and MKX crossover
utility vehicles that are now produced at the facility, a union
official said on Wednesday.
“It’s obviously going to give us the next generation of the
Edge and the MKX, so it’s going to help us for sure. It’s going
to help the employees and the community,” said Gary Beck, head
of the union at plant, Unifor local 707, which represents