TORONTO (Reuters) – Canadian auto sales soared more than 7 percent to a record high for the month of July, industry data released on Thursday showed, with Chrysler (FIA.MI: Quote, Profile, Research, Stock Buzz) outselling Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) and General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Japan’s three big automakers all with double digit gains.
A total of 158,993 new vehicles were sold last month, beating the record set in July 2005, according to DesRosiers Automotive Reports.
Aug 1 (Reuters) – Canadian plane and train maker Bombardier
Inc reported a 22 percent rise in second-quarter
profit on Thursday as its train business grew, but pushed back
the date when its all-new C-Series plane will be ready for
Bombardier Inc, the world’s fourth largest
planemaker and largest trainmaker, insisted the new plane would
still enter service a year from the first flight. It has already
pushed back that first flight three times and now says it is due
to fly in the coming weeks.
TORONTO, July 30 (Reuters) – WestJet Airlines Ltd
said on Tuesday that higher capacity had hurt its second-quarter
results, and it warned that a slide in revenue per seat would
extend into the current period.
Canada’s No. 2 airline said it flew emptier planes during
the second quarter. It had said during the last quarter that it
would probably earn less revenue from every seat, in part
because of softer demand.
NEW YORK/TORONTO (Reuters) – Richard Baker is doubling down on his attempt to revive big-name department stores with a $2.4 billion bid to buy Saks Inc (SKS.N: Quote, Profile, Research, Stock Buzz), bringing the iconic New York retailer under the same roof as Lord & Taylor and Canada’s Hudson’s Bay.
Baker’s Hudson’s Bay Co (HBC.TO: Quote, Profile, Research, Stock Buzz) is offering $16 per share to buy the retailer, a 30 percent premium over levels in May, right before media reports that Saks was up for sale. The deal is worth $2.9 billion in cash, including the assumption of Saks’ debt.
TORONTO (Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) delayed the maiden flight of its CSeries jetliner for a third time on Wednesday, promising the flight “in the coming weeks” instead of July, a move likely to rattle airlines that have stepped up to buy the all-new plane.
“This might make people a bit jittery… This is a new market for them. A lot depends upon the confidence of customers,” said aviation industry expert Richard Aboulafia, a vice-president at consulting firm Teal Group Corp.
TORONTO, July 24 (Reuters) – Canadian Pacific Railway
on Wednesday reported a slightly lower-than-expected
quarterly profit, hurt by floods and a number of high-profile
Record floods late last month in the Canadian oil and gas
capital of Calgary, Alberta, curbed revenue growth by C$25
million, or 2 percent. The flooding caused extensive network
outages, including more than 40 track washouts over a four-day
period, Chief Executive Officer Hunter Harrison said in a
TORONTO, July 24 (Reuters) – Bombardier Inc on
Wednesday delayed the maiden flight of its all-new CSeries
jetliner for a third time, promising the flight “in the coming
weeks”, instead of in July.
Shares, which had climbed nearly 11 percent since Bombardier
announced its earlier, one-month delay, fell as much as 3
percent to C$4.92 on the Toronto Stock Exchange.
OTTAWA, July 23 (Reuters) – Canada beefed up its safety
standards for railways on Tuesday, reacting to the Quebec train
disaster earlier this month, and said that two “qualified
persons” must run any train that hauls dangerous goods.
In an emergency directive, most of which takes effect
immediately, the Transport Department also said that trains
carrying dangerous goods must not be left unattended on a main
TORONTO, July 22 (Reuters) – Canadian National Railway
, Canada’s largest railroad, posted an increase in
quarterly net profit on Monday, helped by freight rate rises and
growth in crude oil shipments.
Net income rose to C$717 million ($693.42 million), or
C$1.69 per diluted share, in the second quarter, from C$631
million, or C$1.44 a share, in the same quarter last year.
July 18 (Reuters) – Canada’s two big railroads are reviewing
safety standards after the deadly train crash on July 6 that
killed some 50 people and destroyed the center of a small Quebec
Canadian Pacific Railway Ltd, Canada’s No. 2
operator, said on Thursday it has already made some changes to
its operating rules. It will no longer park unattended trains
hauling hazardous materials on main lines, and is bringing in
tougher rules on setting the brakes that hold a stationary train