UK blocks Sainsbury’s merger with Walmart unit Asda

UK blocks Sainsbury’s merger with Walmart unit Asda
LONDON — British regulators blocked Sainsbury’s 7.3 billion-pound ($9.4 billion) purchase of Walmart’s Asda unit on Thursday amid concerns the deal would have increased prices and reduced the quality and range of products available. For Walmart, it’s another setback as it tries to refocus its international operations on higher-growth markets. The Competition and Markets Authority said the deal creating the... Read More

Bombardier cuts financial outlook, full-year revenue guidance down by US$1B

Bombardier cuts financial outlook, full-year revenue guidance down by US$1B
MONTREAL — Bombardier Inc. is cutting its financial guidance for the year due to lower expectations at its transportation business and commercial aircraft division. The company, which keeps its books in U.S. dollars, says it now expects full-year revenues to be approximately US$17 billion, roughly $1 billion lower than originally anticipated. Bombardier says revenue at its commercial aircraft business is... Read More

Precision Drilling reports first-quarter profit, revenue up from year ago

Precision Drilling reports first-quarter profit, revenue up from year ago
CALGARY — Precision Drilling Corp. says it earned a profit in its latest quarter compared with a loss a year ago as its revenue improved eight per cent. The company says it earned $25 million or eight cents per diluted share for the quarter ended March 31. That compared with a loss of $18.1 million or six cents per diluted... Read More