Transportation, Retail and Markets Correspondent, Canada
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Feb 4, 2014

Air Canada seeks ways to boost revenue, cut costs as C$ falls

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.

Jan 30, 2014

CN Rail profit stung as winter chill adds to costs

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.

Jan 29, 2014

CP Rail posts record results, shares hit new high

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
conservative.

Jan 29, 2014

Analysis: Oil trains to keep rumbling through North America’s cities

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.

Jan 29, 2014

Oil trains to keep rumbling through N.America’s cities

TORONTO, Jan 29 (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.

Jan 29, 2014

CP Rail profit weaker than expected but outlook lifts shares

TORONTO, Jan 29 (Reuters) – Canadian Pacific Railway
, the country’s second largest railroad, reported a
weaker-than-expected quarterly profit on Wednesday, but forecast
adjusted earnings would climb at least 30 percent in 2014 as
revenue rises.

Shares of the Calgary, Alberta-based railway rose 2.5
percent to C$162.05 on the Toronto Stock Exchange aftersinking
briefly in early trade.

Jan 16, 2014

Bombardier CSeries delayed by at least nine months

By Solarina Ho

(Reuters) – Bombardier (BBDb.TO: Quote, Profile, Research, Stock Buzz) said on Thursday it will delay putting its new narrowbody CSeries jet into commercial use by at least nine months, citing a longer-than-expected test phase.

The smaller CS100 aircraft’s entry-into-service is now scheduled for the second half of 2015. It will be followed by the larger CS300′s entry-into-service about six months later, the planemaker said in a statement.

Jan 15, 2014

Sears Canada to cut more than 1,600 jobs

TORONTO, Jan 15 (Reuters) – Sears Canada Inc plans
to cut more than 1,600 jobs, or more than 7 percent of it
workforce, this year as it reorganizes and outsources some of
its business, the struggling department store operator said on
Wednesday.

Sears Canada, controlled by Sears Holdings Corp,
said it signed an agreement with IBM Corp to take over
work currently handled internally, a move that affects 1,345
jobs at three call centers over the next nine months.

Jan 14, 2014

Lululemon to polish tarnished image after “wake-up call”

TORONTO, Jan 14 (Reuters) – After a year of bungled public
relations and messy quality and supply-chain troubles, Lululemon
Athletica Inc is committed to fixing the problems that
have marred its trendy image, a top executive at the yogawear
retailer said on Tuesday.

Chief Financial Officer John Currie made the comments a day
after the Vancouver, British Columbia-based company issued its
second earnings warning in just over a month, sending its stock
to a two-year low.

Jan 10, 2014

Crude oil fire on derailed Canadian train extinguished

TORONTO, Jan 10 (Reuters) – A fire on a crude oil tanker on
a Canadian National Railway Co train that derailed this
week in New Brunswick was extinguished by Friday afternoon and
CN said blazes on cars carrying liquid petroleum gas (LPG) would
be put out shortly.

The CN train had been burning for a fourth day as crews
worked to remove the last derailed freight cars adjacent to the
fires. A total of 19 cars and one locomotive on the 122-car,
four-locomotive train went off the rails on Tuesday evening near
the village of Plaster Rock.

    • 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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