April auto sales plummet into ‘uncharted territory’ with 75% drop

April auto sales plummet into ‘uncharted territory’ with 75% drop
TORONTO — DesRosiers Automotive Consultants says auto sales dropped into “uncharted territory” in April with a 74.6-per-cent plunge from a year earlier. April sales totalled an estimated 45,833 units compared with 180,616 last year as restrictions and economic uncertainty related to the COVID-19 outbreak affected the full month of sales. DesRosiers says that while its records aren’t complete, it believes the... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (14,620.34, down 160.40 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down half a cent, or 1.02 per cent, to 48.5 cents on 26.9 million shares. StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Up half a cent, or four per cent, to 13 cents on 16.2 million shares. Cenovus Energy... Read More

Colliers says 21% of surveyed business tenants asking for rent relief

Colliers says 21% of surveyed business tenants asking for rent relief
VANCOUVER — Real estate firm Colliers International says about one in five commercial tenants surveyed requested April rent relief as the COVID-19 shutdown hit business activity. The company says that 21 per cent of the 7,100 retail, industrial, and office tenants in its managed portfolio across Canada requested relief, and close to half of that share indicated they could not afford... Read More

Cottage communities eye summer season constrained by COVID-19 measures

Cottage communities eye summer season constrained by COVID-19 measures
TORONTO — A springtime trickle of Manitobans entering Ontario to visit their lakeside cottages alarmed Kenora Mayor Daniel Reynard a month ago. Now that Manitoba is poised to restart some non-essential services Monday, Reynard fears an even bigger influx — this time sun-seekers expecting amenities that are simply unavailable. The message in Ontario is still one of restraint: Avoid non-essential travel, and... Read More

Restaurant Brands International reports Q1 profit and sales down from year ago

Restaurant Brands International reports Q1 profit and sales down from year ago
TORONTO — The parent company of Tim Hortons saw daily sales fall by more than 40 per cent in the last two weeks of March as the COVID-19 crisis began to take hold in Canada, but has since regained some momentum as it shifted more restaurants to serving food through delivery. “The COVID-19 pandemic has obviously introduced a wide variety... Read More

S&P/TSX composite down, while U.S. stock markets also fall; loonie down

S&P/TSX composite down, while U.S. stock markets also fall; loonie down
TORONTO — Canada’s main stock index fell in late-morning trading, weighed down by broad-based losses led by the financial sector, while the Canadian dollar also moved lower. The S&P/TSX composite index was down 186.12 points at 14,594.62. In New York, the Dow Jones industrial average was down 455.66 points at 23,890.06. The S&P 500 index was down 61.55 points at... Read More

Canada taking more baby steps toward normalcy

Canada taking more baby steps toward normalcy
TORONTO — Canada took further baby steps toward post-pandemic normalcy on Friday when Prince Edward Island became the second province to begin easing rigid restrictions imposed to curb the COVID-19 scourge. Elective surgeries and other non-urgent health-care services including physiotherapy and optometry were restarting in the province, as were outdoor gatherings of up to five people from different households and non-contact outdoor... Read More

Agnico Eagle reports $21.6 million loss on pandemic related mine shutdowns

Agnico Eagle reports $21.6 million loss on pandemic related mine shutdowns
TORONTO — Shares in Agnico Eagle Mines Ltd. rose Friday after it released new production guidance and reported a first-quarter loss linked to temporary mine shutdowns to control spread of the COVID-19 pandemic. Agnico Eagle shares on the Toronto Stock Exchange rose by as much as 6.8 per cent or $5.53 to $86.86 before dropping back to $83.86 at 11 a.m. EDT. The Toronto-based... Read More

TC Energy reports $1.15B first-quarter profit, up from $1.0B a year ago

TC Energy reports $1.15B first-quarter profit, up from $1.0B a year ago
CALGARY — TC Energy Corp. reported a first-quarter profit of $1.15 billion, up from $1.0 billion a year ago. The company formerly known as TransCanada says the profit amounted to $1.22 per diluted share for the quarter ended March 31 compared with $1.09 per diluted share in the first quarter of 2019. Revenue for the three months totalled nearly $3.42... Read More

Atco reports lower Q1 profit, says COVID-19 may cause delays, labour shortages

Atco reports lower Q1 profit, says COVID-19 may cause delays, labour shortages
CALGARY — Atco Ltd. says it had lower revenue and a reduced profit of $174 million profit in the first quarter, down from $226 million a year earlier. Adjusted earnings fell to $106 million or 93 cents per share from $112 million or 98 cents per share. Revenue fell to $1.06 billion from $1.32 billion. Atco attributed the drop in adjusted... Read More