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
MIRABEL, Quebec, Sept 16 (Reuters) – Bombardier Inc’s
CSeries jetliner took flight for the first time on
Monday, the culmination of a $3.4 billion program to develop the
first all-new narrow-body plane of its size in decades.
The CSeries, which Bombardier says will be the world’s
quietest commercial aircraft, will carry up to 149 passengers.
It is the Canadian company’s big gamble to break into the
hyper-competitive, larger aircraft segment currently ruled by
Boeing Co and Airbus.
MIRABEL, Quebec (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) carried out final preparations for the maiden flight of its CSeries on Monday, hoping to translate its ambitions to shatter an Airbus and Boeing duopoly into faster sales of Canada’s most ambitious jet.
Appearing in blue and white livery under broken skies, the jet was due to fly from Bombardier’s Mirabel factory in Quebec at 9.30 am, capping a 5-year $3.4 billion development of the first all-new plane in its class in decades.
TORONTO (Reuters) – Premium yogawear retailer Lululemon Athletica Inc (LULU.O: Quote, Profile, Research, Stock Buzz), still recovering from an embarrassing recall of excessively see-through yoga pants, trimmed its outlook for full-year sales and profits on Thursday, sending its shares lower.
Lululemon said it expected mid single-digit comparable-store sales growth during the third quarter. That is down from the company’s heyday, when sales rose 10 percent and more from one quarter to another.
TORONTO, Sept 11 (Reuters) – The Canadian dollar was
stronger against its U.S. counterpart on Wednesday, breaking
through the 100-day moving average after a string of solid daily
gains prompted by last week’s stronger-than-expected domestic
Divergent North American job reports last Friday were a key
impetus for the Canadian dollar’s rise. The reports showed
Canada added almost three times as many jobs as expected, while
U.S. employers hired fewer workers than expected.
TORONTO, Sept 10 (Reuters) – Canadian housing starts fell
more than expected in August to hit their lowest since April,
hurt primarily by slower condo construction, according to data
released on Tuesday that tempered property bubble fears.
The seasonally adjusted annualized rate of housing starts
was 180,291 units in August, the Canada Mortgage and Housing
TORONTO, Sept 9 (Reuters) – Rainy, cloudy weather is
forecast for Bombardier Inc’s flight test site in
Quebec for much of this week, adding to suspense over the
unspecified date for the maiden flight of the Canadian
company’s all-new CSeries jetliner.
The 100- to 149-seat CSeries is the first completely new
narrow-body aircraft in its class in decades, and is
Bombardier’s attempt to break into a market dominated by Airbus
and Boeing Co.
TORONTO, Sept 4 (Reuters) – Canadian auto sales recorded
their best August ever, industry data released on Wednesday
showed, with Ford Motor Co outselling Chrysler Group
and General Motors Co, and Japan’s largest
automakers making double-digit gains.
Automakers sold 149,301 vehicles in Canada last month, a 6.5
percent rise compared with a year ago, according to DesRosiers
TORONTO (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) signed a preliminary deal on Wednesday to sell 100 short-haul Q400 NextGen aircraft in Russia and set up a joint-venture assembly line for the planes in that country.
Bombardier, a Montreal-based plane and train maker, said it signed a letter of intent to sell 50 Q400 NextGen turboprop aircraft to the Russian state-owned industrial and defense conglomerate Rostec.