(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
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.