Stelco reports earnings of $125 million in Q3 in sharp jump from last year

Stelco reports earnings of $125 million in Q3 in sharp jump from last year
HAMILTON — Stelco Holdings Inc. says it earned $125 million in the third quarter for a sharp rebound from the $30-million loss it reported in the same quarter last year. The Hamilton-based steel producer says adjusted net income for the quarter ending Sept. 30 came to $135 million, or $1.52 per share, up from an $11 million or 15 cent... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (15,131.78, down 24.62 points). Bombardier Inc. (TSX:BBD.B). Down 25 cents, or 10 per cent, to $2.25 on 34.7 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Down 46 cents, or five per cent, to $8.74 on 15.3 million shares. Trican Well Service Ltd. (TSX:TCW). Energy. Down 12 cents, or 8.39 per... Read More

BP deep water well off Nova Scotia lacks commercial quantities of oil:partner

BP deep water well off Nova Scotia lacks commercial quantities of oil:partner
HALIFAX — A third well exploration effort off Nova Scotia has failed to find commercially viable levels of oil in the deep waters of the Scotian Shelf. Hess Corp., the drilling partners on the BP-operated Scotian Basin Exploration Drilling Project, issued a news release Tuesday saying it will write off its share of the well cost, and BP will abandon the Aspy well. It is BP’s only... Read More

NASA boss in Ottawa, fuels speculation about new Canadian space-station role

NASA boss in Ottawa, fuels speculation about new Canadian space-station role
OTTAWA — The head of the U.S. space agency says Canada’s knack for artificial intelligence will be useful for exploring the moon, if we want in. Jim Bridenstine, the administrator of the National Aeronautics and Space Administration, says Canada has developed crucial artificial intelligence-based robotics technology that could help operate the next-generation outpost the United States is planning to send into lunar orbit. He started a two-day... Read More

B.C.-based pot producer Tilray reports revenue surge, net loss

B.C.-based pot producer Tilray reports revenue surge, net loss
NANAIMO, B.C. — B.C.-based cannabis producer Tilray reported an 85 per cent jump in quarterly revenue year-over-year to US$10 million, but a wider net loss during its third quarter. The Nanaimo-based company posted a quarterly net loss of US$18.7 million during the three months ended Sept. 30, compared to US$1.8 million in the third quarter of 2017. Analysts had expected revenues of US$10.1 million and... Read More

Toronto stock market pushes higher, despite energy weakness on drop in oil

Toronto stock market pushes higher, despite energy weakness on drop in oil
TORONTO — Canada’s main stock index was up in late-morning trading as gains in the financial, industrial and materials sectors outweighed losses in the energy sector as the price of oil fell. The S&P/TSX composite index was up 79.85 points at 15,236.25. In New York, the Dow Jones industrial average was up 107.95 points at 25,495.13. The S&P 500 index... Read More

TransCanada staunchly supports Keystone XL pipeline despite latest court setback

TransCanada staunchly supports Keystone XL pipeline despite latest court setback
CALGARY — TransCanada Corp. says it doesn’t know when it will be able to build its Keystone XL pipeline after a Montana judge stopped it last week but it is confident the project will make money once it is built and in service. It’s too soon to say what the decision by U.S. District Judge Brian Morris last Thursday will... Read More

Flight simulator company CAE Inc. reports higher Q2 profit and revenue

Flight simulator company CAE Inc. reports higher Q2 profit and revenue
MONTREAL — Flight simulator company CAE Inc. says its second-quarter profit and revenue increased compared with a year ago. The Montreal-based firm says its net income attributable to shareholders was $60.7 million for the quarter ended Sept. 30, up one per cent from $60.3 million from the same period a year ago. The profit amounted to 23 cents per share compared... Read More

Brookfield and the Caisse buy automotive battery business from Johnson Controls

Brookfield and the Caisse buy automotive battery business from Johnson Controls
MONTREAL — Brookfield Business Partners LP and the Caisse de depot et placement du Quebec, together with a group of institutional partners, have signed a deal to buy Johnson Controls’ power solutions business for US$13.2 billion. The business produces batteries for automakers and aftermarket distributors and retailers. The companies say it is well positioned to benefit from the growth in demand for... Read More

Globe and Mail workers could be off the job by midnight Wednesday: union

Globe and Mail workers could be off the job by midnight Wednesday: union
TORONTO — A strike appears to be looming at the Globe and Mail. The union representing editorial, circulation and advertising sales workers at the Globe says they could be on strike by midnight Wednesday. Unifor says the 320 members are seeking pension protection and an end to what it says is a pay gap between male and female employees. They have been negotiating with the Globe... Read More