Auto sales to dip in most provinces, led by Ontario’s 3.1% drop: Scotiabank

Auto sales to dip in most provinces, led by Ontario’s 3.1% drop: Scotiabank
TORONTO — Canadian sales of cars and light trucks this year are expected to dip from last year’s all-time high, mostly because of weaker economic conditions in Ontario, Scotiabank said Friday in a report. The bank’s automotive outlook projected that 2018 could end a five-year string of successive records that included 2.04 million vehicles sold in 2017 — largely fuelled by demand in Ontario as well... Read More

Canfor going ahead with US$120M sawmill in U.S. as softwood dispute continues

Canfor going ahead with US$120M sawmill in U.S. as softwood dispute continues
VANCOUVER — Canfor Corp. says its going ahead with the construction of a US$120 million sawmill in Washington, Ga., as Canada’s softwood lumber industry continues to deal with punitive duties from the U.S. But the Vancouver-based lumber company said early Friday that construction of the new 275-million board feet mill may not start in the second quarter of 2018 as initially planned. Canfor... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (15,508.17, down 15.84 points) Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up seven cents, or 1.82 per cent, to $3.92 on 9.3 million shares. Trican Well Service Ltd. (TSX:TCW). Oil and gas. Down 31 cents, or 8.96 per cent, to $3.15 on 7.9 million shares. Hydro One Ltd. Instalment... Read More

Retiring Pengrowth CEO plans role as advocate for misunderstood oilpatch

Retiring Pengrowth CEO plans role as advocate for misunderstood oilpatch
CALGARY — The retiring CEO of Pengrowth Energy Corp. says Canadian oil and gas leaders have been too “shy” to speak out in support of their industry and he plans to help fill that vacuum as he leaves the job he’s held since 2009. The disconnect between average Canadians and the industry in terms of pipeline and drilling technology safety, and their inability... Read More

CN and CP say service will improve as frigid winter weather subsides

CN and CP say service will improve as frigid winter weather subsides
MONTREAL — Canada’s two largest railways vowed to improve their service levels over the coming months as they escape the grip of a tough winter that hampered their ability to transport goods. During separate presentations to a transportation conference, Canadian National Railway chief financial officer Ghislain Houle and CP Rail chief executive Keith Creel told investors that heavy snow in Western... Read More

Canadian producers buoyant about 2018 as duties expected keep prices high

Canadian producers buoyant about 2018 as duties expected keep prices high
MONTREAL — Softwood lumber duties aren’t dampening the spirits of Canadian lumber producers as strong demand from rising U.S. housing starts and tight supply is expected to keep prices high throughout 2018. The number of U.S. housing starts beat expectations by surpassing 1.33 million in January on a seasonally adjusted basis, with single family starts increasing 7.6 per cent. Housing permits approached 1.4 million. Conifex... Read More

December’s manufacturing sales slip from November’s record high: StatCan

December’s manufacturing sales slip from November’s record high: StatCan
OTTAWA — Canada’s manufacturing sales in December were $55.5 billion, which was down 0.3 per cent from a revised record high for November, Statistics Canada reported Friday. “The surge in November, related to a rebound in automotive shipments after the October shutdowns, was not expected to continue through the year-end,” TD economist Michael Dolega wrote Friday. Nevertheless, he said December was “still somewhat... Read More

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion

Weston family’s Choice Properties buying Canadian REIT for $3.9 billion
TORONTO — The Weston family is poised to create Canada’s largest real estate investment trust through a $3.9-billion deal for its publicly traded Choice Properties REIT to buy Canadian Real Estate Investment Trust. The combination of Choice Properties, which counts Loblaw as its principal tenant and largest unitholder, and CREIT will create a company with a diversified portfolio of 752... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,328.27, up 111.80 points) Eldorado Gold Corp. (TSX:ELD). Miner. Up eight cents, or 5.76 per cent, to $1.47 on 14.9 million shares. Nevsun Resources Ltd. (TSX:NSU). Miner. Up nine cents, or 3.28 per cent, to $2.83 on 10.7 million shares. BioAmber Inc. (TSX:BIOA). Chemicals. Down 4.5 cents, or 34.62 per cent,... Read More

Aecon pushes back on fears over proposed sale to Chinese state-owned firm

Aecon pushes back on fears over proposed sale to Chinese state-owned firm
CALGARY — Construction company Aecon Group Inc. is pushing back against criticism of the sale of the company to Chinese state-owned firm CCCC International Holding Ltd. The proposed $1.5-billion sale, which shareholders approved in December, has prompted calls for a formal national security review. The sale has been approved by the Competition Bureau, but still requires clearance through the Investment Canada... Read More