TORONTO — Five things to watch for in the Canadian business world in the coming week:
Some of the biggest names in corporate Canada report their financial results this week. Restaurant Brands International reports its earnings on Monday. Wednesday is expected to see gold miners Barrick Gold and Kinross Gold report their results as well as insurers Sun Life Financial, Manulife Financial and Great-West Lifeco. Agnico Eagle Mines reports on Thursday along with pipeline operator TC Energy and Telus. Canadian Tire and Enbridge report Friday.
Canada Mortgage and Housing Corp. will release preliminary housing starts data for January on Monday. The annual pace of housing starts slowed in December to a seasonally adjusted annual rate of 197,329, mostly due to a decline in multi-unit projects.
Morneau in Calgary
Federal Finance Minister Bill Morneau heads to the heart of the oilpatch and gives a speech in Calgary to the Economic Club of Canada on Monday. The event follows news last week that the cost of the Trans Mountain pipeline expansion will be $12.6 billion, up from an earlier estimate of $7.4 billion.
Cineplex shareholder vote
Shareholders of Cineplex Inc. vote Tuesday on a takeover of the company by Cineworld Group in a deal valued at $2.8 billion including assumed debt. The friendly deal cleared a key hurdle last week when a “go-shop” period ended without a superior offer being made for the Canadian movie theatre company.
Canopy Growth Corp. reports its results on Friday. The cannabis industry is under scrutiny after cuts last week at Tilray Inc. and Aurora Cannabis Inc. Tilray announced a plan to lay off about 10 per cent of its workforce in an effort to cut costs, while Aurora said it would eliminate about 500 staff positions as part of a restructuring.
This report by The Canadian Press was first published Feb. 9, 2020.
The Canadian Press