Company releases, economic news, and business coverage.
TORONTO - Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,045.94, down 304.90 points).
MONTREAL - SNC-Lavalin's sudden return to the spotlight brings renewed focus on the beleaguered engineering firm's health, along with the potential economic consequences if it continues its path of decline.
SNC-Lavalin Group Inc.'s bidding prospects, reputation and stock price have been causes for concern in a year that has seen its own financial woes conflated with its role in a political scandal that continues to dog Prime Minister Justin Trudeau.
TORONTO - Shares of Canada Goose Holdings Inc. fell as much as 10 per cent Wednesday as it reported a wider loss and worsened margins in its first quarter compared to a year earlier.
The luxury parka company reported a loss of $29.4 million or 27 cents per share for the quarter ended June 30 compared with a loss of $18.7 million or 17 cents per share a year ago.
TORONTO - Shares of Indigo Books & Music Inc. closed down almost 15 per cent Wednesday as the company missed earnings expectations amid a strategy change.
The Toronto-based retailer said its revenue dropped and its loss widened in its first quarter as it worked to cut promotions and low-margin merchandise, as well as remodel stores and offerings.
TORONTO - For the first time since before the Great Recession, the yield curve on two- and 10-year U.S. government bonds has inverted, a possible warning that another recession is on the way.
On Wednesday, the yield on the 10-year Treasury briefly fell below the two-year yield. By late afternoon, the rate was 1.58 per cent 10-year yield and 1.56 per cent two-year yield. However, the spread remains very narrow, a rare occurrence as investors usually demand more interest for tying up their money over a longer term.
Metro Inc. will fast-track the deployment of technology such as self-service checkouts and electronic shelf labels to its stores in an effort to lower labour costs, the grocer's chief executive said Wednesday.
The Montreal-based company expects to have self-service checkouts in 100 stores by the end of its 2019 financial year, which ends Sept. 29. It will equip another 100 stores in the following year.
MONTREAL - The head of Aimia Inc. says its legal battle against its largest shareholder has not hampered the loyalty company's hunt for bolt-on acquisitions as it charts a new course after the sale of its Aeroplan business.
"We continue to be focused on executing M&A strategy. We've seen robust deal flow since we announced the strategy. We continue to see that," said chief executive Jeremy Rabe on a conference call with analysts, responding to a question about whether Aimia plans had "been impacted by the noise that led to the lawsuit."
OTTAWA - Canada's export credit agency says it regrets its 2015 decision to lend US$41 million to a South African company owned by members of a family facing corruption allegations related to their ties to former president Jacob Zuma.
In the months and years that followed, the agency became increasingly concerned about the loan it provided to Westdawn Investments to backstop the sale of a Bombardier luxury jet, Export Development Canada executive vice-president Carl Burlock said Wednesday.
HONG KONG - Flights resumed Wednesday at Hong Kong's airport after two days of disruptions that descended into clashes with police, highlighting the hardening positions of pro-democracy protesters and the authorities in the semi-autonomous Chinese city. After nightfall, a new protest outside a police station in the city was dispersed as officers fired tear gas.
There was soul-searching in the protest movement, including the three dozen demonstrators who remained camped at the airport arrivals area. They asked travellers and the general public for forgiveness after their blockade turned into chaotic and frenzied violence.
MONTREAL - Canada's largest airline aims to boost its presence in the U.S. with a pair of Airbus A220 jetliners on two new non-stop routes between Montreal and Seattle and from Toronto to San Jose, Calif.
The narrow-body aircraft, which are set to take off on May 4, are the first two of 10 that Air Canada expects to receive by the summer of 2020, granting it greater range and cost savings as rival WestJet Airlines Ltd. attempts to make further inroads into international markets.