Company releases, economic news, and business coverage.
MONTREAL - Gildan Activewear Inc. (TSX:GIL) says it had US$74.3 million of profit in its fourth quarter, up from US$67.6 million in the same period last year.
The profit amounted to 32 cents per share. Adjusted earnings were also 32 cents per share, up from 28 cents per share in both cases.
VANCOUVER - The City of Vancouver is launching another court case in a bid to derail Kinder Morgan's proposed pipeline expansion.
Council members have voted to go ahead with a judicial review of the provincial government's environmental assessment of the Trans Mountain project.
TORONTO - CIBC increased its first-quarter net income to $1.41 billion, up from $982 million a year ago.
The quarterly earnings amounted to $3.50 per diluted share, compared with $2.43 per diluted share during the same period last year.
TORONTO - A new survey suggests Canadians contributed less to their tax-free savings accounts last year, mostly because they didn't have enough money to invest.
The Bank of Montreal's annual TFSA survey found respondents contributed an average of $4,592 into their accounts last year — $939 less than the year before.