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.
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.