TMX Group beats expectations as Q4 profits drops partly on impairment charge

TMX Group beats expectations as Q4 profits drops partly on impairment charge
TORONTO — TMX Group Ltd. beat expectations even though its net income fell 32 per cent to $47.5 million in the fourth quarter on lower revenues. The owner of the Toronto Stock Exchange says it earned 84 cents per diluted share, down from $1.24 per share or $69.8 million a year earlier. Excluding one-time items, which include an $18-million non-cash impairment charge,... Read More

Chinese military members face charges in Equifax breach impacting Canadians

Chinese military members face charges in Equifax breach impacting Canadians
Four members of the Chinese military are facing charges for allegedly breaking into Equifax Inc. systems in 2017 and stealing data connected with Canadians, the U.S. Department of Justice revealed Monday. An indictment filed by the department says the breach of the Atlanta-based credit monitoring company’s system compromised a “colossal repository of sensitive personally identifiable information.” The breach affected the accounts of at least 19,000 Canadians, hundreds... Read More

N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns

N.L., Ottawa agree to shield ratepayers from Muskrat Falls cost overruns
ST. JOHN’S, N.L. — Ottawa and Newfoundland and Labrador say they will rewrite the financial structure of the Muskrat Falls hydro project to shield ratepayers from paying for the megadam’s cost overruns. Federal Natural Resources Minister Seamus O’Regan and Premier Dwight Ball announced Monday that their two governments would scrap the financial structure agreed upon in past federal-provincial loan agreements,... Read More

North American stock markets move higher on fading concerns about virus impact

North American stock markets move higher on fading concerns about virus impact
TORONTO — North American stock markets started the week higher as investors shrugged off concerns about the economic impact of the novel coronavirus as Chinese factories start to reopen. “As incremental news comes in — while it’s certainly not as positive as anyone would like as we continue to see infections rise — I think the market’s starting to come to a bit better... 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 (17,740.57, up 85.08 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Up three cents, or 2.04 per cent, to $1.50 on 13.5 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $26.56 on 10.5 million shares. Enbridge Inc. (TSX:ENB). Energy. Up 61 cents, or 1.09 per cent, to $56.74 on 8.4... Read More

Cybercriminals using coronavirus-themed emails to deliver malware: report

Cybercriminals using coronavirus-themed emails to deliver malware: report
TORONTO — Criminal groups are exploiting fears over the recent novel coronavirus outbreak in an email phishing campaign directed at the global shipping industry, according to a report issued Monday by a California-based cybersecurity firm. Proofpoint said the new campaign uses emails with bogus Microsoft Word attachments that are designed to install a type of malware known as AZORult. AZORult has been around... Read More

‘Sizable gap’ between Tim Hortons performance and capability, CEO says

‘Sizable gap’ between Tim Hortons performance and capability, CEO says
Sales and franchisee profits at Tim Hortons fell in its most recent quarter, prompting parent company Restaurant Brands International Inc. to launch a back-to-basics approach to regain momentum. “There is clearly a sizable gap between what this brand is capable of and the performance we’ve delivered,” said CEO Jose Cil during a conference call with analysts Monday after the company... Read More

Materials helps lift Toronto stock market, loonie edges lower against US$

Materials helps lift Toronto stock market, loonie edges lower against US$
TORONTO — Strength in the materials sector helped Canada’s main stock index gain ground in late-morning trading, while U.S. stock markets also moved higher. The S&P/TSX composite index was up 59.32 points at 17,714.81. In New York, the Dow Jones industrial average was up 73.05 points at 29,175.56. The S&P 500 index was up 10.37 points at 3,338.08, while the... Read More

Ontario considers cannabis lounges, cafes as part of future open market

Ontario considers cannabis lounges, cafes as part of future open market
TORONTO — Ontario is considering allowing cannabis lounges and cafes as it moves toward an open cannabis market. The government is consulting on the possibility of “consumption venues” as well as special occasion permits that would apply to outdoor festivals and concerts. The Alcohol and Gaming Commission of Ontario says it has received more than 700 applications for retail operator licences. The Progressive... Read More

SNC-Lavalin announces Jeff Bell as new chief financial officer

SNC-Lavalin announces Jeff Bell as new chief financial officer
MONTREAL — SNC-Lavalin has named Jeff Bell as its next chief financial officer as part of the company’s ongoing renewal process. Bell, a former group chief financial officer for British energy services firm Centrica, will join SNC as executive vice-president on Tuesday and take over as chief financial officer from current chief financial officer Sylvain Girard on April 14. The... Read More