Facebook reports 4Q profit, user growth despite challenges

Facebook reports 4Q profit, user growth despite challenges
SAN FRANCISCO — Facebook had a strong fourth quarter as it made more money on advertising and added more users despite challenges around regulation, privacy and efforts to fight election interference. Profit and revenue both handily surpassed Wall Street’s expectations. Facebook said that about 2.89 billion people use at least one of its services — Facebook, WhatsApp, Instagram or Messenger... Read More

Record sales push Tesla to 2nd straight quarterly profit

Record sales push Tesla to 2nd straight quarterly profit
DETROIT — Record electric vehicle sales in the fourth quarter helped to push Tesla Inc. to its second-straight quarterly profit, giving bullish investors optimism that sustained black ink lies ahead. The Palo Alto, California, company said it made a net profit of $105 million from October through December, or 56 cents per share, but still posted an annual loss of... Read More

Toronto stock market inches higher as U.S. corporate results outweigh virus risks

Toronto stock market inches higher as U.S. corporate results outweigh virus risks
TORONTO — Canada’s main stock index inched higher midweek on strong U.S. corporate earnings and improved risk appetite despite ongoing threats from a new form of coronavirus. “Today investors are largely looking past the coronavirus issues in China and are instead shifting their focus to fundamentals and particularly after some of the bellwether companies in the U.S. this morning reported stronger than... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (17,511.75, up 10.87 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.31 per cent, to $1.27 on 7.6 million shares. Wallbridge Mining Company Ltd. (TSX:WM). Materials. Up 17 cents, or 22.97, to 91 cents on 5.4 million shares. Royal Bank of Canada (TSX:RY). Financials.... Read More

Canadian oil producers prepared for temporary price slump as virus spreads

Canadian oil producers prepared for temporary price slump as virus spreads
OTTAWA — Canada’s energy industry is not overly alarmed as the new coronavirus coming out of China is taking a bite out of world oil prices. Brad Herald, a vice-president at the Canadian Association of Petroleum Producers, says “there are some short-term jitters” among Canadian producers as they watch global travel slow as a result of the outbreak. But Herald... Read More

Cenovus credits quota easing as it ramps up crude-by-rail output to 100,000 bpd

Cenovus credits quota easing as it ramps up crude-by-rail output to 100,000 bpd
CALGARY — An executive with Cenovus Energy Inc. says it produced more crude in December thanks to the Alberta government’s decision last fall to allow producers to exceed provincial quotas if they move the additional barrels by rail. Executive vice-president Drew Zieglgansberger says the oilsands company met its goal of ramping up its crude-by-rail shipments to 100,000 barrels per day by the end of... Read More

Tim Hortons pulls Beyond Meat breakfast sandwiches from B.C., Ont. menus

Tim Hortons pulls Beyond Meat breakfast sandwiches from B.C., Ont. menus
Tim Hortons has stopped selling Beyond Meat products in Ontario and B.C. — the last two provinces serving them after the company scaled back the plant-based offering in September. A spokeswoman for the coffee chain’s parent company, Restaurant Brands International, says there was not enough demand to keep selling Beyond Meat breakfast sandwiches in the two provinces. The company first piloted the plant-based breakfast... Read More

Panel recommends new powers, roles for CRTC as part of sweeping review

Panel recommends new powers, roles for CRTC as part of sweeping review
OTTAWA — The Canadian Radio-television and Telecommunications Commission would get sweeping new powers and responsibilities if the federal government adopts recommendations in an expert panel’s review of key laws. In total, the panel’s 235-page report makes 97 recommendations after more than 18 months of consultations and research under the leadership of Janet Yale, a former telecommunications executive and CRTC commissioner. The... Read More

Leaked report shows United Nations suffered hack

Leaked report shows United Nations suffered hack
GENEVA — The United Nations has been hacked. An internal confidential document from the United Nations, leaked to The New Humanitarian and seen by The Associated Press, says that dozens of servers were “compromised” at offices in Geneva and Vienna. Those include the U.N. human rights office, which has often been a lightning rod of criticism from autocratic governments for... Read More

Air Canada cancels select flights to China as coronavirus spreads

Air Canada cancels select flights to China as coronavirus spreads
MONTREAL — Air Canada is cancelling select flights to China as travellers shaken by the coronavirus epidemic delay or call off travel plans. Canada’s largest airline runs 33 flights a week to China and says that the capacity reduction is relatively small. Air Canada says affected customers will be notified and offered alternate travel options. The cancellations come as the airline allows... Read More