Business News Canada

  • Canada's second-largest railroad operator said average fuel price fell 10% to $2.41 per gallon in the third quarter, leading to a 7.1% fall in fuel expenses. While CBR shipments fell short of the company's expectations, CP remained optimistic that the new Alberta government will come to a resolution on the transfer of its crude contract.

  • Oct 23- Agnico Eagle Mines Ltd reported a better-than-expected quarterly profit on Wednesday, helped by higher realized gold prices and gold sales volumes at its Meliadine mine in northern Canada. Gold miners have benefited from a prolonged tariff dispute between the United States and China as investors looked for relief in safe haven assets, boosting gold...

  • CP RAIL EXEC- INCREASINGLY OPTIMISTIC THAT THE ALBERTA GOVT WILL COME TO A RESOLUTION ON THE TRANSFER OF CO'S CRUDE CONTRACT- CONF CALL.

  • Oct 23- Canadian gold miner Agnico Eagle Mines Ltd reported a more than four-fold increase in quarterly profit on Wednesday, helped by higher realized gold prices and gold sales volumes at its Meliadine mine in Canada. Net income rose to $76.7 million, or 32 cents per share, in the third quarter ended Sept. 30, from $17.1 million, or 7 cents per share, a year earlier.

  • WASHINGTON, Oct 23- The United States on Wednesday sued California for entering a climate agreement with Canada's Quebec province, saying the state had no right to conduct foreign policy, in the latest feud between the Trump administration and the state. "The state of California has veered outside of its proper constitutional lane to enter into an...

  • BRASILIA, Oct 23- Brazil's state nuclear power company Eletronuclear plans to complete its long-delayed Angra 3 plant by partnering with either China's National Nuclear Corporation, France's EDF or Russia's Rosatom, its president Leonam Guimaraes told Reuters. CNNC executives visited Angra 3 in June and reaffirmed their interest in completing it and...

  • OTTAWA, Oct 23- Canadian Prime Minister Justin Trudeau said on Wednesday the first order of business for his new government will be to cut taxes for the middle class, and he promised to move ahead on the expansion of a western oil pipeline. "The very first thing we will do which will be putting forward a bill to lower taxes for the middle class," Trudeau said in his first...

  • LONDON, Oct 23- In common with millions of other Lebanese living abroad, London restaurateur Moufid Shamms is unable to send cash back to support his family- in his case daughters studying at school. That is a problem for Shamms, who usually makes transfers via Western Union, and also for Lebanon's small economy. "I have my two eldest daughters living in Lebanon and...

  • Oct 23- Canada's main stock index fell on Wednesday, pressured by a dour revenue forecast from Rogers Communications and a drop in energy shares, with losses limited by gains in material stocks. *At 9:56 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 19.9 points, or 0.18%, at 16,371.62. *The most heavily traded shares by volume were Aurora...

  • Oct 23- Canada's Rogers Communications Inc cut its full-year revenue forecast on Wednesday after the company added fewer wireless subscribers in the third quarter due to stiff competition. The Toronto- based company generated an average revenue per user of C $67.20 for its wireless services, compared to C $66.20, the previous year, beating analysts' estimates...

  • OSLO, Oct 23- China is likely to become the first country in the world to start mining seabed minerals if the international rules for exploitation are approved next year, the head of the International Seabed Authority said. "I do believe that China could easily be among the first," Michael Lodge, ISA general-secretary, who visited China last week, said.

  • Toronto Raptors against the Philadelphia 76ers during Game Seven of the Eastern Conference Semifinals of the 2019 NBA Playoffs on May 12, 2019 in Toronto, Ontario, Canada.

    Hong Kong pro-democracy supporters crashed the NBA's opening night party on Tuesday handing out thousands of black t-shirts as the Toronto Raptors prepared to begin the defense of their championship title against the New Orleans Pelicans.

  • OTTAWA, Oct 22- Canadian Prime Minister Justin Trudeau on Tuesday faced the cold reality of a minority government that will likely be forced to tilt left to survive, a move that risks upsetting the business community and stoking alienation in oil-producing provinces. The election was a disappointment for Conservative leader Andrew Scheer, who had promised to...

  • Oct 22- Canadian National Railway Co on Tuesday cut its adjusted profit forecast for the year and said it expects the first half of 2020 to be "challenging" as freight demand in North America takes a hit from a weakening economy. Chief Executive Officer Jean-Jacques Ruest said on a conference call with analysts that he expects things to get better in the second...

  • Oct 22- Canadian National Railway Co beat analysts' estimates for quarterly adjusted profit on Tuesday, as the largest railroad operator in Canada was helped by higher freight rates and strength in its intermodal unit. Excluding one-time items, the railroad company earned C $1.66 per share, beating the average analyst estimate of C $1.62, according to IBES data...

  • Oct 22- Canadian National Railway Co cut its adjusted profit forecast for the year on Tuesday, citing deterioration in North American rail demand due to a weakening economy. The largest railroad operator in Canada now expects adjusted earnings per share growth in the high single-digit percentage range this year, compared with an earlier estimate of low...

  • TORONTO, Oct 22- Canada's Liberal government is more likely to pass a universal prescription drug plan after losing its majority in Monday's election, setting the stage for what would be the biggest shakeup of the country's public healthcare system since it was created in the 1960 s. The Liberals won the most seats in the election but fell short of a majority,...

  • TORONTO, Oct 22- Investors are ditching bets that the Bank of Canada will cut interest rates over the coming months as the domestic economy shows resilience and the federal election result adds to prospects of growth-boosting fiscal spending next year. "The resulting higher spending and larger deficits may give a temporary lift to growth next year, but will...

  • Oct 22- McDonald's Corp missed Wall Street estimates for profit for the first time in two years on Tuesday as more investment to spruce up U.S. restaurants and speed up service weighed on the world's biggest fast food chain, sending its shares down 4%. Rival fast-food chains in the United States have challenged its dominance with value meals and new menu items,...

  • Trudeau's Liberals will most likely need the support of the New Democratic Party and possibly the Green Party to enact key legislation- both of which are firmly opposed to the expansion of the pipeline, which will triple the flow of oil sands crude to the British Columbia coast. Energy brokerage Tudor, Pickering, Holt& Co analysts said that if Canada's Federal...