While losses mount, Uber CEO expects profitability in 2021

While losses mount, Uber CEO expects profitability in 2021
NEW YORK — The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years. CEO Dara Khosrowshahi said Monday that the company’s goal is to reach profitability — when adjusted for interest, taxes, depreciation and amortization — for the full year of 2021. “We hope that we’ve shown you that we... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,669.81, up 75.74 points). Bombardier Inc. (TSX:BBD.B). Industrials. Up 14 cents, or 7.73 per cent, to $1.95 on 13.1 million shares. Encana Corp. (TSX:ECA). Energy. Up 43 cents, or 7.9 per cent, to $5.87 on 13.1 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Up 30... Read More

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues
CALGARY — Prices for Western Canadian Select oil continued to soften on Monday as TC Energy Corp. reported recovering about half the crude that leaked from its Keystone pipeline in North Dakota last week. Spokesman Terry Cuhna says about 4,300 barrels of oil have been recovered from the 9,120 barrels initially estimated to have leaked from the pipeline into a field near Edinburg,... Read More

Positive sentiment pushes TSX higher and U.S. stock markets to record highs

Positive sentiment pushes TSX higher and U.S. stock markets to record highs
TORONTO — North American stock markets started the week stronger with U.S. markets hitting all-time highs on positive sentiment that could bode well for the rest of the year. The S&P/TSX composite index closed up 75.74 points to 16,669.81, its highest closing in more than a month, as energy stocks climbed. In New York, the Dow Jones industrial average was up... Read More

Rental buildings making a comeback as housing crunch pushes demand, returns

Rental buildings making a comeback as housing crunch pushes demand, returns
TORONTO — Matthew Boukall remembers a couple of years back at a conference in Calgary, where someone got confused over the difference between condo and rental apartment builds. “People had only seen condo apartments for so long, that they forgot people built rental,” said Boukall, a vice-president at real estate services firm Altus Group. Decades of under-investment made dedicated rental buildings... Read More

Energy sector helps lift stocks in Toronto, U.S. stock markets rally

Energy sector helps lift stocks in Toronto, U.S. stock markets rally
TORONTO — Canada’s main stock index was up in late-morning trading, helped by gains in the energy sector as the price of oil headed higher. The S&P/TSX composite index was up 64.10 points at 16,658.17. In New York, the Dow Jones industrial average was up 136.22 points at 27,483.58. The S&P 500 index was up 14.10 points at 3,081.01, while... Read More

Sprott Resource restarts Chilean mine after shooting death, guard injury

Sprott Resource restarts Chilean mine after shooting death, guard injury
TORONTO — Sprott Resource Holdings Inc. says it is restarting operations at its Chilean copper cathode mine after an incident on Sunday resulted in a security guard being severely injured and another person being shot to death. The Toronto-based company says the guard at the Minera Tres Valles mine was investigating damage at a security gate on Sunday morning when he was confronted... Read More

Economic growth expected for all four Atlantic provinces in coming year

Economic growth expected for all four Atlantic provinces in coming year
HALIFAX — A new study says the economic outlook for the Atlantic provinces remains positive for the remainder of 2019 and next year. The independent Atlantic Provinces Economic Council says Prince Edward Island will once again lead the region in economic growth, with the Island’s real gross domestic product expected to rise by 2.8 per cent in 2020. The Island’s economy,... Read More

Bausch Health reports $49M Q3 loss, raises full-year financial guidance

Bausch Health reports $49M Q3 loss, raises full-year financial guidance
LAVAL, Que. — Bausch Health Companies Inc. raised its profit and revenue guidance as it reported a US$49-million loss in its latest quarter. The drug company, which keeps its books in U.S. dollars, says it now expects full-year revenue in a range from $8.40 billion to $8.60 billion, up from earlier expectations for revenue between $8.475 and $8.625 billion Full-year adjusted earnings... Read More