Cineplex delays first-quarter results due to COVID-19 pandemic

Cineplex delays first-quarter results due to COVID-19 pandemic
TORONTO — Cineplex says it’s delaying the release of its first-quarter financial results as it focuses on the business impact of COVID-19. The country’s largest movie theatre chain outlined plans to utilize temporary blanket relief provided by the Canadian Securities Administrators that gives the company an extension of up to 45 days for its filings. Cineplex says it now plans to report its quarterly... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (14,833.69, up 2.95 points.) Bombardier Inc. (TSX:BBD.B). Industrials. Down eight cents, or 15.09 per cent, to 45 cents on 35 million shares. Enbridge Inc. (TSX:ENB). Energy. Up $1.35, or 3.12 per cent, to $44.62 on 28.2 million shares. Freegold Ventures Ltd. (TSX:FVL). Materials.... Read More

Uber loses $2.9 billion, offloads bike and scooter business

Uber loses $2.9 billion, offloads bike and scooter business
NEW YORK — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The ride-hailing giant said Thursday it is offloading Jump, its bike and scooter business, to Lime, a company in which it... Read More

Need to think longer-term on debts, finances as downturn set to linger: experts

Need to think longer-term on debts, finances as downturn set to linger: experts
TORONTO — The initial economic shock from the COVID-19 outbreak may start to ease as provinces reopen, but experts say it’s important for those struggling with debt to think about the longer haul since there’s still little clarity as to how long the effects will linger. How long the economic hangover lasts is anyone’s guess, but it won’t be short. Bank of Canada... Read More

CN Rail moves record 2.81 million tonnes of grain for April, slightly ahead of CP

CN Rail moves record 2.81 million tonnes of grain for April, slightly ahead of CP
MONTREAL — Canadian National Railway Co. moved a record 2.81 million tonnes of grain for April, slightly ahead of CP Rail’s record volume for the month. The country’s largest railway says the movement included 2.73 million tonnes from Western Canada, which exceeded the three-year average of 2.55 million tonnes for April. The Montreal-based railway’s all-time monthly record was 2.89 million tonnes of... Read More

Canadian Tire reports Q1 loss compared with a profit a year ago, sales dip

Canadian Tire reports Q1 loss compared with a profit a year ago, sales dip
TORONTO — Canadian Tire Corp. Ltd. reported a loss in its latest quarter as sales fell due to the steps taken to slow the spread of COVID-19, including the temporary closure of its SportChek and Mark’s stores. The retailer’s loss attributable to shareholders totalled $13.3 million or 22 cents per diluted share for the quarter ended March 28. That compared with... Read More

Telus delays usual dividend increase amid COVID-19 but sees growth opportunities

Telus delays usual dividend increase amid COVID-19 but sees growth opportunities
VANCOUVER — Telus Corp. won’t be raising its dividend until at least November because of the uncertain outcomes of the COVID-19 pandemic, chief executive Darren Entwistle told the company’s virtual annual meeting Thursday. His comments came after Telus announced a 19 per cent decline in first-quarter net income, which fell to $353 million, despite higher revenue compared with last year.... Read More

Magna International reports drop in earnings as COVID-19 hits operations

Magna International reports drop in earnings as COVID-19 hits operations
AURORA, Ont. — Magna International Inc. says its first quarter earnings were down significantly from last year as the company was hit by factory shutdowns across its global operations. The autoparts maker, which reports in U.S. dollars, says it had a net income of $261 million, or 86 cents per diluted share for the quarter ending March 31, compared with net income of $1.1... Read More

Bombardier sees Q1 earnings plummet after pandemic shutters factories

Bombardier sees Q1 earnings plummet after pandemic shutters factories
MONTREAL — Bombardier Inc. took a major earnings hit last quarter — with more losses to come — as fallout from the COVID-19 pandemic blocked aircraft deliveries and shut down operations across dozens of plants. The company, which keeps its books in U.S. dollars, reported a $200 million loss in its first quarter and burned through $1.6 billion in cash as... Read More

Execs say Bell well-positioned for eventual lifting of pandemic restrictions

Execs say Bell well-positioned for eventual lifting of pandemic restrictions
MONTREAL — BCE Inc. executives said Thursday that they are beginning to see early signs that customers are getting ready to emerge from COVID-19 restrictions and Bell Canada is in good position to respond. However, they can’t predict yet what measures the company will take to adapt to a post-pandemic environment. They made the remarks after the Montreal-based company, Canada’s largest communications and... Read More