Transportation, Retail and Markets Correspondent, Canada
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Jul 24, 2013

CP Rail profit hit by floods, derailment

TORONTO, July 24 (Reuters) – Canadian Pacific Railway
on Wednesday reported a slightly lower-than-expected
quarterly profit, hurt by floods and a number of high-profile
derailments.

Record floods late last month in the Canadian oil and gas
capital of Calgary, Alberta, curbed revenue growth by C$25
million, or 2 percent. The flooding caused extensive network
outages, including more than 40 track washouts over a four-day
period, Chief Executive Officer Hunter Harrison said in a
statement.

Jul 24, 2013

Bombardier delays CSeries maiden flight for third time

TORONTO, July 24 (Reuters) – Bombardier Inc on
Wednesday delayed the maiden flight of its all-new CSeries
jetliner for a third time, promising the flight “in the coming
weeks”, instead of in July.

Shares, which had climbed nearly 11 percent since Bombardier
announced its earlier, one-month delay, fell as much as 3
percent to C$4.92 on the Toronto Stock Exchange.

Jul 23, 2013

Canada toughens rail safety rules after Quebec disaster

OTTAWA, July 23 (Reuters) – Canada beefed up its safety
standards for railways on Tuesday, reacting to the Quebec train
disaster earlier this month, and said that two “qualified
persons” must run any train that hauls dangerous goods.

In an emergency directive, most of which takes effect
immediately, the Transport Department also said that trains
carrying dangerous goods must not be left unattended on a main
track.

Jul 22, 2013

CN Railway profit rises as crude oil shipments increase

TORONTO, July 22 (Reuters) – Canadian National Railway
, Canada’s largest railroad, posted an increase in
quarterly net profit on Monday, helped by freight rate rises and
growth in crude oil shipments.

Net income rose to C$717 million ($693.42 million), or
C$1.69 per diluted share, in the second quarter, from C$631
million, or C$1.44 a share, in the same quarter last year.

Jul 18, 2013

Canada’s big railways review safety rules after train disaster

July 18 (Reuters) – Canada’s two big railroads are reviewing
safety standards after the deadly train crash on July 6 that
killed some 50 people and destroyed the center of a small Quebec
town.

Canadian Pacific Railway Ltd, Canada’s No. 2
operator, said on Thursday it has already made some changes to
its operating rules. It will no longer park unattended trains
hauling hazardous materials on main lines, and is bringing in
tougher rules on setting the brakes that hold a stationary train
in place.

Jul 15, 2013

Loblaw to buy Shoppers in $11.9 billion bid to defend Canadian turf

By Solarina Ho and Bhaswati Mukhopadhyay

(Reuters) – Loblaw Cos Ltd, Canada’s largest food retailer, will buy Shoppers Drug Mart Corp, the country’s biggest pharmacy chain, for C$12.4 billion ($11.9 billion) to bulk up against intensifying competition from U.S. retail giants as well as from consolidating local rivals.

News of the tie-up, Canada’s biggest merger and acquisition deal so far this year, sent Shoppers shares soaring 26 percent and Loblaw shares up 8 percent on the Toronto Stock Exchange on Monday.

Jul 15, 2013

Loblaw to buy Shoppers in C$12.4 bln bid to defend Canadian turf

July 15 (Reuters) – Loblaw Cos Ltd, Canada’s largest
food retailer, will buy Shoppers Drug Mart Corp, the
country’s biggest pharmacy chain, for C$12.4 billion ($11.9
billion) to bulk up against intensifying competition from U.S.
retail giants as well as from consolidating local rivals.

News of the tie-up, Canada’s biggest merger and acquisition
deal so far this year, sent Shoppers shares soaring 26 percent
and Loblaw shares up 8 percent on the Toronto Stock Exchange on
Monday.

Jun 26, 2013

Bombardier delays CSeries first flight again, up to a month

TORONTO (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) on Wednesday delayed the maiden flight of its all-new CSeries jetliner for a second time, the latest setback in the Canadian planemaker’s $3.4 billion bid to compete with bigger rivals.

Bombardier fell as much as 4.5 percent on the Toronto Stock Exchange after the company said it was pushing back its inaugural flight by up to a month.

Jun 26, 2013

Bombardier delays CSeries first flight by up to a month

TORONTO, June 26 (Reuters) – Canada’s Bombardier Inc
delayed the maiden flight of its all-new CSeries
jetliner for a second time on Wednesday, pushing it back by up
to a month.

The news sent its shares down as much as 3.2 percent shortly
after the market opened in Toronto.

Jun 25, 2013

U.S. hedge fund Scout steps up pressure on Tim Hortons

TORONTO (Reuters) – Scout Capital Management, a U.S. hedge fund, said on Tuesday it is urging Canadian coffee and doughnut chain Tim Hortons (THI.TO: Quote, Profile, Research, Stock Buzz) to increase its debt levels in order to fund a share buyback, measures that Scout say should help drive up Tim Horton’s share price by as much as 100 percent from current levels.

The demands to Tim Hortons’ board by New York-based Scout Capital are similar those put forward by rival U.S. hedge fund Highfields Capital earlier this year.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for Reuters.com, and an online news editor for Reuters.com, .co.uk and .ca. Life before Reuters included working in China and freelancing in California."
      Joined Reuters:
      2003
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