Transportation, Retail and Markets Correspondent, Canada
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Jun 5, 2013

C$ seen steady over next year as U.S. economy dictates direction: Reuters poll

TORONTO (Reuters) – The Canadian dollar is forecast to hold near current levels against the greenback in the year ahead, a Reuters poll showed on Wednesday, with the outlook for the U.S. economy and the risk its central bank will curb stimulus seen driving global currency moves.

The median forecast in the poll of 49 economists and foreign exchange strategists saw the Canadian dollar trading at C$1.03 to the U.S. dollar in one, six and 12 months from now. It is expected to trade stronger at C$1.02 in three months.

Jun 4, 2013

Bombardier at 177 firm CSeries orders as Ilyushin approved

TORONTO, June 4 (Reuters) – Bombardier Inc’s much
anticipated CSeries plane has reached 177 firm orders after the
Canadian manufacturer said on Tuesday that a previously
announced deal with Ilyushin Finance Co. won backing from the
Russian company’s investors.

IFC’s order for 32 CS300 aircraft with an option for an
additional 10 was approved by IFC’s shareholders, Bombardier
said on Tuesday. The Russian aircraft leasing company’s
conditional order was first announced in February.

Jun 3, 2013

Detroit carmakers lead Canadian sales, Toyota not far behind

TORONTO, June 3 (Reuters) – Canadian auto sales rose 5.3
percent in May, marking a slowdown from April, but far outpacing
the lackluster 2.4 percent year-to-date growth, according to
DesRosiers Automotive Consultants Inc.

Across Canada, 185,040 vehicles were sold last month, just
shy of the record set in May 2007 when 185,471 cars and trucks
were sold, according to the independent auto analyst who
compiles auto sales data.

Jun 3, 2013

Lululemon pants back on shelves after see-through blunder fixed

TORONTO (Reuters) – Lululemon Athletica Inc (LLL.TO: Quote, Profile, Research, Stock Buzz)’s black “Luon” pants are back on store shelves, the Canadian retailer said on Monday, following a highly-publicized recall in March after the fabric was deemed too transparent.

The company warned in March that it could lose up to $40 million in profit this fiscal year after it pulled its snug-fitting black workout pants made with its signature Luon fabric from stores due to an “unacceptable level of sheerness.”

Jun 3, 2013

Canada manufacturing PMI strongest level in nearly a year

TORONTO, June 3 (Reuters) – Canada’s manufacturing growth
expanded at its fastest pace in nearly a year in May, according
to data released on Monday, underpinned by new orders which
pushed output back into growth mode for the first time in three
months.

The RBC Canadian Manufacturing Purchasing Managers’ Index
was up sharply at 53.2 in May after adjusting for seasonal
variation, rising from 50.1 in April.

May 10, 2013

Magna profit up on strong North America sales, raises outlook

TORONTO (Reuters) – Auto parts maker Magna International Inc (MG.TO: Quote, Profile, Research, Stock Buzz) (MGA.N: Quote, Profile, Research, Stock Buzz) posted a higher-than-expected rise in first-quarter profit on Friday as its revenues climbed 9 percent, boosted by strong sales in North America.

Shares of the Canadian company rose in pre-market trading as it also raised its 2013 outlook.

May 9, 2013

Tim Hortons CEO cautious on higher debt, buyback

TORONTO (Reuters) – Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz) is likely to raise its debt levels and buy back shares but not to the extent that an activist investor is pushing for, Paul House, chief executive of the Canadian coffee-and-doughnut chain, said on Thursday.

Hedge fund Highfields Capital, which owns about 4 percent of Tim Hortons shares, has been pressuring the company to boost shareholder returns and appoint new board members with more financial experience.

May 9, 2013

Tim Hortons CEO cautious on higher debt, share buyback

TORONTO, May 9 (Reuters) – Tim Hortons Inc is
likely to raise its debt levels and buy back shares but not to
the extent that an activist investor is pushing for, Paul House,
chief executive of the Canadian coffee-and-doughnut chain, said
on Thursday.

Hedge fund Highfields Capital, which owns about 4 percent of
Tim Hortons shares, has been pressuring the company to boost
shareholder returns and appoint new board members with more
financial experience.

May 9, 2013

Bombardier says CSeries on track; revenue jumps

May 9 (Reuters) – Bombardier Inc, the world’s No.
4 commercial aircraft maker, said its CSeries jetliner was on
track to make its first flight in June as it reported a 25
percent jump in first-quarter revenue on robust growth at its
aerospace unit.

Earnings per share were in line with consensus, but analysts
said the details of the results were better than expected and
bode well for Bombardier’s outlook and share price, which rose
more than 5.4 percent to C$4.46 in early trading on the Toronto
Stock Exchange.

May 2, 2013

SNC eyes shedding assets, focus on Americas in new strategy

TORONTO (Reuters) – Scandal-mired SNC Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) reported a disappointing profit on Thursday as it laid out a growth strategy that would see it liquidate some infrastructure investments and focus on the lower risk markets of North and South America.

SNC, one of the world’s largest construction and engineering companies, said under the new strategy the Montreal-based firm would leverage its expertise in resources, exit investments at maturity, potentially sell non-core assets and reduce its equity stakes in large investments in the medium term.

    • 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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