Transportation, Retail and Markets Correspondent, Canada
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Aug 28, 2013

Bombardier, Rostec in tentative turboprop aircraft deal

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.

Aug 28, 2013

Shoppers CEO says deal with Loblaw to get September competition review

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.

Aug 23, 2013

Railway in Quebec disaster allowed to operate till Oct. 1

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
authorities.

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.

Aug 20, 2013

Toronto policeman accused of murder in teen shooting released on bail

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.

Aug 14, 2013

Rona posts loss, hurt by charges, tough markets

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, 2013

Magna raises sales forecast after profit beat, Europe recovery

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
earnings.

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.

Aug 8, 2013

Tim Hortons acts on investor pressures, CEO calls for new strategy

By Solarina Ho and Bhaswati Mukhopadhyay

(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.

Aug 8, 2013

Tim Hortons responds to pressure with C$900 mln buyback plan

By Solarina Ho and Bhaswati Mukhopadhyay

(Reuters) – Tim Hortons Inc (THI.TO: Quote, Profile, Research, Stock Buzz), the Canadian coffee and doughnut chain that has been facing pressure by shareholders, said on Thursday it was expanding its share buyback plan by C$900 million ($863.4 million) as it cut its growth forecast even though quarterly profit topped estimates.

The company, led since July 2 by long-time Nestle executive Marc Caira, also announced plans for its business in the United States that are in line with demands of activist investors who have urged the company to cut back on the investment of its own cash in the United States and turn to franchisees.

Aug 2, 2013

Lavalin reports loss on charges in North Africa

TORONTO, Aug 2 (Reuters) – Canada’s SNC-Lavalin Group Ltd
unexpectedly reported a quarterly net loss and lowered
its financial forecast for the year on Friday following charges
on projects in two North African countries.

The company’s shares fell 6 percent to C$40.44 on the
Toronto Stock Exchange.

The Montreal-based company, one of the world’s largest
construction and engineering companies, said results reflected
operating losses at its oil and gas unit for a project in
Algeria and at its infrastructure and environment business for a
halted project in Libya.

Aug 1, 2013

Chrysler leads as Canadian July auto sales set record

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.

    • 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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