Transportation, Retail and Markets Correspondent, Canada
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Apr 11, 2013

Hudson’s Bay CEO says best opportunities at Canadian arm

April 11 (Reuters) – Hudson’s Bay Co’s chief
executive said on Thursday that the best opportunities for the
343-year-old company are at its namesake Canadian department
store chain.

The company, which owns two of the most venerable names in
department stores – Hudson’s Bay in Canada and Lord & Taylor in
the United States, has seen its stock tumble 12 percent since
its listing on the Toronto Stock Exchange in November.

Apr 10, 2013

Canada’s Porter Airlines buys Bombardier jets in expansion push

TORONTO (Reuters) – Canadian regional carrier Porter Airlines announced an ambitious expansion plan on Wednesday, driven by an order worth up to $2.08 billion for up to 30 of Bombardier Inc’s all-new CSeries jets. But the push into new markets comes with challenges.

The privately held airline said it will need revisions to rules at its hub, the downtown Toronto Island airport, that prohibit the operation of scheduled commercial jets and the extension of runways.

Mar 27, 2013

Statscan says no evidence of leak despite C$ rise before inflation data

TORONTO, March 27 (Reuters) – A sharp rally in the Canadian
dollar minutes before Wednesday’s release of key inflation data
sparked market talk that the report had been leaked, an idea
Canada’s statistics agency played down.

It was not the first time traders have speculated about a
leak of Canadian data. Statistics Canada, the federal government
agency, investigated similar reports in 2009, but found no
evidence that its staff or any media outlets had leaked data.
But at the same time it beefed up security measures.

Mar 21, 2013

Bombardier revenue could double in 5 yrs, sees dividend hike

TORONTO, March 21 (Reuters) – Canada’s Bombardier Inc
said revenue could nearly double over the next five
years, boosted by its new fleet of business and commercial
aircraft, and that it planned to plow some of the cash into
bigger dividend payments.

The Montreal-based aircraft and rail car builder, which
issued a lackluster 2013 outlook last month, is planning to
deliver the first of its new business Learjets this year and the
its first CSeries commercial aircraft next year.

Mar 21, 2013

Bombardier says revenue growth could nearly double in 5 years

TORONTO, March 21 (Reuters) – Canada’s Bombardier Inc
expects revenue to grow by more than 30 percent by
2015 and potentially nearly double over the next five years,
largely due to a fleet of new aircraft, company executives told
analysts and investors on Thursday.

The Montreal-based aircraft and rail car builder, which
issued a lackluster 2013 outlook last month, is banking on the
success of its aerospace division, which will see the first
delivery of some of its new business Learjets this year and the
first delivery of its new CSeries commercial aircraft next year.

Mar 19, 2013

Couche-Tard profit jumps 56 percent, but misses estimates

TORONTO, March 19 (Reuters) – Convenience store operator
Alimentation Couche-Tard reported a 56 percent jump in
quarterly profit Tuesday, but results fell short of analysts’
estimates, sending shares down as much as 6 percent.

Net income for the third quarter ended Feb. 3 rose to $142.5
million, or 75 cents a share, from $86.8 million, or 48 cents, a
year earlier.

Mar 19, 2013

Canada’s Rona brings in outsider as CEO; shares rise

By Solarina Ho

(Reuters) – Rona Inc (RON.TO: Quote, Profile, Research, Stock Buzz), Canada’s top home-improvement retailer and distributor, has chosen supermarket-chain executive Robert Sawyer as CEO, putting him in charge of efforts to fight back against large U.S.-based competitors.

Shares of Rona rose as much as 6 percent on Tuesday after it said Sawyer, former chief operating officer at Canadian grocer Metro Inc (MRU.TO: Quote, Profile, Research, Stock Buzz), would replace acting Chief Executive Dominique Boies next month. Rona’s longtime CEO, Robert Dutton, stepped down in November.

Mar 8, 2013

GM to spend C$250 mln on Canada’s CAMI assembly plant

TORONTO, March 8 (Reuters) – General Motors Co is
spending C$250 million ($243.46 million) to retrofit its CAMI
Automotive Inc assembly plant in Ingersoll, Ontario, for future
vehicle production, the company said on Friday.

The facility currently produces the popular crossover
utility models Chevrolet Equinox and the GMC Terrain.

Mar 8, 2013

SNC Lavalin shares fall as results, outlook fall short

By Solarina Ho

(Reuters) – Canadian construction and engineering company SNC Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) reported a 24 percent rise in fourth-quarter profit on Friday, but its shares fell as much as 6.8 percent after the earnings and its 2013 outlook fell short of analysts’ expectations.

Excluding infrastructure investments, profit fell 33 percent, with earnings per share coming in far below analysts’ expectations.

Mar 7, 2013

Bombardier unveils high-stakes CSeries jetliner

MONTREAL, March 7 (Reuters) – Canada’s Bombardier Inc
took the wraps off its $3.4 billion challenge to
industry leaders Boeing and Airbus on Thursday,
announcing “excellent progress” on the development program for
its largest plane to date.

Bombardier’s single-aisle CSeries planes, with seating for
between 100 and 160 passengers, represent the Montreal-based
company’s attempt to break into the lower end of a marketplace
for 100-200 seat jets heavily defended by Boeing and Airbus.

    • 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, and an online news editor for, and .ca. Life before Reuters included working in China and freelancing in California."
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