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.
TORONTO (Reuters) – Loblaw Co Ltd (L.TO: Quote, Profile, Research, Stock Buzz), which last month announced a C$12.4 billion ($11.9 billion) deal to buy Shoppers Drug Mart Corp (SC.TO: Quote, Profile, Research, Stock Buzz), will submit its application to the competition bureau after investors vote on the deal next month, Shoppers’ chief executive said on Wednesday.
Shareholders of pharmacy chain Shoppers are expected to approve the acquisition, Canada’s biggest deal so far this year, when they vote at a special meeting on September 12, CEO Domenic Pilla told Reuters.
TORONTO, Aug 23 (Reuters) – The rail company whose oil
tanker train blew up in a Quebec town last month, killing 47
people, will be allowed to continue operating through Oct. 1
after providing insurance documentation demanded by Canadian
The Canadian Transportation Agency (CTA) said on Friday it
would let Montreal, Maine and Atlantic Railway (MMA) and its
Canadian subsidiary keep trains moving for now. Earlier this
month it had ordered MMA to cease operations, saying the railway
lacked adequate insurance.
TORONTO (Reuters) – A Toronto policeman charged with second degree murder in the shooting death of an 18-year-old who brandished a knife on a streetcar was released on C$510,000 ($491,000) bail on Tuesday.
Outlining a rare murder charge against an on-duty police officer, the Toronto police force’s Special Investigations Unit said on Monday it had grounds to believe that Constable James Forcillo broke the law in the death of Sammy Yatim.
TORONTO, Aug 14 (Reuters) – Rona Inc, Canada’s
largest home-improvement retailer and distributor, reported a
wider-than-expected second-quarter loss on Wednesday, weighed
down by restructuring costs and tough market conditions.
Results sent Rona shares down as much as 4.5 percent. Shares
were off 2.6 percent at C$10.97 in early afternoon trading.
Aug 9 (Reuters) – Canadian auto parts maker Magna
International Inc reported a 19 percent rise in its
quarterly profit on Friday and raised its sales outlook for the
year, buoyed by better-than-expected European and North American
The results sent Magna’s stock, which have soared some 70
percent so far this year on the Toronto Stock Exchange, to an
all-time high on Friday.
(Reuters) – Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz), the Canadian coffee and doughnut chain under shareholder pressure to boost returns, said on Thursday it was expanding its buyback plan by C$900 million ($863.4 million) and its new CEO called the challenging environment the “new reality.”
The company, led since July 2 by long-time Nestle SA (NESN.VX: Quote, Profile, Research, Stock Buzz) executive Marc Caira, also announced plans for its business in the United States that are in line with demands of activist investors who want the company to cut back on the investment of its own cash in the United States and turn to well-capitalized franchisees.