Transportation, Retail and Markets Correspondent, Canada
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May 2, 2013

SNC eyes shedding assets, focus on Americas in new strategy

TORONTO (Reuters) – Scandal-mired SNC Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) reported a disappointing profit on Thursday as it laid out a growth strategy that would see it liquidate some infrastructure investments and focus on the lower risk markets of North and South America.

SNC, one of the world’s largest construction and engineering companies, said under the new strategy the Montreal-based firm would leverage its expertise in resources, exit investments at maturity, potentially sell non-core assets and reduce its equity stakes in large investments in the medium term.

May 2, 2013

‘Joe Fresh’ maker Loblaw to stay in Bangladesh – chairman

TORONTO (Reuters) – Loblaw Cos Ltd, Canada’s largest grocer, will continue to produce clothing in Bangladesh after a deadly textile factory collapse on April 24, but promised to improve the facilities it uses there, Executive Chairman Galen Weston said on Thursday.

“I am deeply troubled. I am troubled that despite a clear commitment to the highest standards of ethical sourcing, our company can still be part of such an unspeakable tragedy,” Weston told reporters ahead of an annual meeting of Loblaw, the company behind the discount clothing brand, Joe Fresh.

May 2, 2013

“Joe Fresh” maker to stay in Bangladesh -Loblaw chief

TORONTO, May 2 (Reuters) – Loblaw Cos Ltd, Canada’s
largest grocer and the company behind the discount clothing
brand Joe Fresh, is committed to staying in Bangladesh, but will
take steps to improve facilities, its top executive said on

“I am deeply troubled. I am troubled that despite a clear
commitment to the highest standards of ethical sourcing, our
company can still be part of such an unspeakable tragedy,”
executive chairman Galen Weston said in a press conference ahead
of the company’s annual meeting.

May 1, 2013

CP Rail blames derailments on ‘internal flaws,’ investing in safety

TORONTO, May 1 (Reuters) – Canadian Pacific Railway
said on Wednesday the recent derailments of trains carrying
crude and potash were caused by broken wheels and a broken rail,
and the company was investing in technology to prevent such
problems in the future.

Speaking at the company’s annual general meeting in Toronto,
Ontario Chief Executive Officer Hunter Harrison said the recent
accidents were the result of “internal flaws” and were

Apr 24, 2013

CP Railway profit soars, sees record year-end results

TORONTO, April 24 (Reuters) – Canadian Pacific Railway Ltd
said a hard-driving efficiency push coupled with revenue
gains helped fuel its best first-quarter results since Canada’s
No. 2 rail carrier was founded in 1881.

But that is just the beginning, management promised on
Wednesday, outlining plans for an intense review of operations
starting next month that will scrutinize every part of the
railway, down to the schedule of each train.

Apr 23, 2013

Canada’s largest train operator says crude-by-rail on track to expand

TORONTO, April 22 (Reuters) – Oil companies are increasingly
investing in transporting crude by railway, Canadian National
Railway said on Monday, with growing demand expected to bolster
earnings in coming years.

Canada’s biggest railway operator, which saw its
crude-by-rail revenue jump 300 percent in the first quarter,
said that what had begun as smaller players building smaller
terminals has turned into something bigger.

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.

    • 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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