Transportation, Retail and Markets Correspondent, Canada
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Mar 21, 2014

Canada’s CN Rail workers vote down second labor agreement

TORONTO, March 20 (Reuters) – Railway staff of Canadian
National Railway Co (CN Rail) have narrowly voted
against a strike-busting labor agreement tentatively agreed upon
by the company and workers’ union.

Canada’s biggest railroad and the Teamsters Canada Rail
Conference – Conductors, Trainpersons and Yardpersons (TCRC-CTY)
regularly negotiate pay, hours and other provisions but a
three-year proposal in October drew threats of a strike earlier
this year.

Mar 20, 2014

Bombardier offers upbeat sales forecast despite CSeries setbacks

TORONTO, March 20 (Reuters) – Bombardier Inc, one
of the world’s leaders in making both planes and trains,
provided an upbeat 2016 revenue forecast on Thursday despite its
struggles to get its costly new Cseries jetliner into service.

Bombardier Chief Executive Pierre Beaudoin told investors in
New York that it expects 2016 revenue to be between $23 billion
and $25 billion, and that it could top $30 billion in as few as
five years.

Mar 19, 2014

CN Rail CEO sees grain backlog extending into 2015

TORONTO, March 19 (Reuters) – A record-shattering Canadian
harvest, combined with one of the most frigid winters in
decades, has created a grain-handling backlog that will not be
cleared until next year, the head of Canadian National Railway
said on Wednesday.

“It will take more than the summer, continue into fall, into
next year,” Claude Mongeau, chief executive of the country’s
biggest railway, told Reuters.

Mar 18, 2014

Canada wants faster phase-out of older rail tanker cars

TORONTO, March 18 (Reuters) – Canada wants a faster
phase-out of older, flawed tanker railcars than what has been
proposed in the United States, the country’s top-ranking
transport official said on Tuesday.

Transport Minister Lisa Raitt said a suggestion for a
10-year phase-out of the older DOT-111 tank cars, which many
hold responsible for a string of fiery train derailments, was

Mar 18, 2014

Toronto stock exchange chief to retire in August

TORONTO, March 18 (Reuters) – TMX Group Ltd Chief
Executive Thomas Kloet is set to retire at the end of August
after six years as head of the company that operates the Toronto
Stock Exchange, a period that included its acquisition by a
consortium of some of Canada’s biggest banks and pension funds.

Kloet, a 30-year veteran of the exchange industry, will step
down Aug. 31, the company said late on Monday.

Mar 12, 2014

CN Rail CEO says will meet Ottawa’s grain shipment target

TORONTO, March 12 (Reuters) – Canadian National Railway Co
, the country’s biggest railroad operator, said on
Wednesday it will meet the federal government’s order to ship
500,000 tonnes of grain a week, but its chief executive said
there would still be a severe backlog even under ideal

Last week, the Canadian government ordered the country’s two
main rail companies to meet the weekly target in order to
address a shipping backlog from a record crop of wheat and

Mar 11, 2014

Canadian employers expect slower pace of hiring -Manpower

TORONTO, March 11 (Reuters) – Canadian employers are looking
to hire at a slightly slower pace in the second quarter than in
both the first quarter and the same period a year earlier, the
weakest outlook in four years, according to a survey released on

The ManpowerGroup Inc report, which measures the
difference between employers foreseeing more hiring and those
planning cuts, said the net employment outlook, adjusted for
seasonal variations, was nine percent, a two percentage point
slide compared to the last quarter and a three percentage point
slide from the same period in 2013.

Mar 6, 2014

Lavalin results miss estimates as old projects weigh

TORONTO, March 6 (Reuters) – Canada’s SNC-Lavalin Group Inc
reported marginally lower fourth-quarter earnings on
Thursday and forecast earnings for 2014 below expectations, with
both the results and the forecast hurt by unprofitable older
projects and a softening commodity market.

Shares of the Montreal-based company, which is working to
move past a far-reaching corruption scandal that brought down
senior executives, fell 4 percent to C$46.45 in
Toronto on Thursday morning.

Mar 3, 2014

Magna profit jumps as vehicle output picks up; div boosted

Toronto (Reuters) – Magna International Inc (MG.TO: Quote, Profile, Research, Stock Buzz)(MGA.N: Quote, Profile, Research, Stock Buzz), one of the world’s largest auto parts suppliers, said on Monday that quarterly profit jumped 31 percent, driven by a pickup in North America and Europe, and hiked its dividend.

Shares climbed more than 4 percent to a record as profit topped expectations.

Magna also trimmed the 2014 sales forecast for its core vehicle parts business due to a weakening Canadian dollar relative to the U.S. dollar, but maintained its total sales outlook.

Feb 20, 2014

Tim Hortons profit misses forecast; shares up after dividend hike

TORONTO, Feb 20 (Reuters) – Canadian coffee and doughnut
chain Tim Hortons Inc reported weaker-than-expected
results on Thursday, hurt by slowing growth, but its stock
jumped as it hiked its dividend and made plans to buy back up to
C$440 million ($399 million) in shares.

Shares of Tim Hortons, which faced shareholder pressure last
year to return capital, were up 3.2 percent at C$59.77, after
falling nearly 8 percent since it last reported quarterly
earnings in November.

    • 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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