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.
CALGARY/TORONTO (Reuters) – Canadian Pacific Railway Ltd (CP.TO: Quote, Profile, Research, Stock Buzz) is slapping a surcharge on customers who transport crude in older tank cars, following its larger rival in seeking to deter shippers from using the model involved in a series of fiery crashes.
CP Rail will add a $325 “general service tank car safety surcharge” on each car of crude that is shipped in any container other than the CPC 1232 model, effective March 14, it said in a notice issued to customers and seen by Reuters. The CPC 1232 model refers to those manufactured since tougher safety standards were voluntarily adopted in October 2011.
CALGARY/TORONTO, Feb 14 (Reuters) – Canadian Pacific Railway
Ltd is slapping a surcharge on customers who transport
crude in older tank cars, following its larger rival in seeking
to deter shippers from using the model involved in a series of
CP Rail will add a $325 “general service tank car safety
surcharge” on each car of crude that is shipped in any container
other than the CPC 1232 model, effective March 14, it said in a
notice issued to customers and seen by Reuters. The CPC 1232
model refers to those manufactured since tougher safety
standards were voluntarily adopted in October 2011.
TORONTO (Reuters) – Chrysler Group LLC is nowhere close to a deal with the Canadian government on a multibillion-dollar investment to upgrade two Ontario facilities, including its minivan assembly plant in Windsor, its top executive said on Thursday.
Sergio Marchionne, the chief executive officer of Fiat Chrysler Automobiles Group, had previously said the decision hinged on economic incentives from Canada and the province of Ontario. He confirmed on Thursday that discussions were under way at both levels.
OTTAWA/TORONTO, Feb 12 (Reuters) – Finance Minister Jim
Flaherty, freshly armed with C$500 million ($455 million) to
subsidize Canada’s auto sector, signaled on Wednesday the
federal government might offer substantial cash to keep Chrysler
Group from closing an Ontario minivan plant.
Fiat SpA Chief Executive Sergio Marchionne said
last month that Chrysler could scrap an upgrade of the Windsor,
Ontario, plant and move production and jobs elsewhere if
government fails to come through with financial incentives.
Feb 12 (Reuters) – Air Canada said on Wednesday it
expected weakness in the Canadian dollar and adverse weather
conditions to weigh on results in the current quarter, news that
sent its shares sinking as much as 20 percent in morning
The country’s largest carrier, which widely missed analysts’
expectations for the fourth quarter, said the Canadian dollar
had weakened more than it forecast when crafting its budget.
TORONTO, Feb 4 (Reuters) – Air Canada, the
country’s largest carrier, is looking for ways to bolster
revenue and cut costs to compensate for the weakening Canadian
dollar, its chief executive officer said on Tuesday.
Air Canada had forecast the Canadian dollar would weaken and
had been searching for ways blunt the impact, but the currency
has fallen more than it had expected, CEO Calin Rovinescu said
in a speech in Toronto.
TORONTO, Jan 30 (Reuters) – Canadian National Railway Co
, the country’s largest rail operator, reported higher
quarterly results on Thursday and said full-year volumes and
revenue hit a record, but results were tempered by extreme
winter weather in December and came in slightly below estimates.
CN Rail, which cautioned the weather challenges continued
into January, raised its quarterly dividend by 16 percent.
TORONTO, Jan 29 (Reuters) – Canadian Pacific Railway
, the country’s second largest railroad, reported record
quarterly results on Wednesday despite taking a hit from extreme
winter weather in December.
The railroad also forecast its adjusted earnings would climb
by at least 30 percent in 2014 with revenue growing by 6-7
percent from 2013, estimates that some analysts said appeared
TORONTO (Reuters) – Mile-long trains carrying crude oil will likely keep chugging through North American cities even after a string of fiery disasters spurred safety officials to urge that railways send risky cargo along less populated routes.
Re-routing the crude-by-rail trains that support booming North American oil production would be hugely difficult given the location of major rail lines and lack of alternatives, industry watchers say, adding that skirting major centers carries different types of risks.