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 (15,272.03, up 123.91 points.) Air Canada (TSX:AC). Industrials. Down $1.23, or 6.96 per cent, to $16.44 on 17.4 million shares. HEXO Corp. (TSX:HEXO). Health care. Down three cents, or 3.09 per cent, to 94 cents on 12.7 million shares. Suncor Energy Inc. (TSX:SU).... Read More

2 U.S. astronauts arrive at launch pad for SpaceX launch

2 U.S. astronauts arrive at launch pad for SpaceX launch
CAPE CANAVERAL, Fla. — With thunderstorms and the possibility of tornadoes threatening a delay, two NASA astronauts climbed aboard a SpaceX rocket ship Wednesday for liftoff on a history-making flight that was seen as a giant leap forward for the booming business of commercial space travel. Space veterans Doug Hurley and Bob Behnken were scheduled to ride into orbit aboard... Read More

Boeing slashes 12,000 jobs as virus seizes travel industry

Boeing slashes 12,000 jobs as virus seizes travel industry
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming. One of the nation’s biggest manufacturers will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming wee Air travel within the U.S. tumbled 96%... Read More

CEO pay has topped $12.3M. Can it keep rising post-pandemic?

CEO pay has topped $12.3M. Can it keep rising post-pandemic?
The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million last year, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation. Median pay for CEOs in the survey climbed 4.1% last year. For the typical worker at their companies, it rose 3.2%. It would take two... Read More

Canada initiates dumping investigation of steel imports from five countries

Canada initiates dumping investigation of steel imports from five countries
OTTAWA — The Canada Border Services Agency says it has initiated an investigation in alleged dumping of some steel imports from Taiwan, Germany, South Korea, Malaysia and Turkey. The investigation relates to certain hot-rolled carbon steel heavy plate and high-strength low-alloy steel heavy plate. The reasons for the investigation will be issued June 11, with a preliminary determination and potential provisional duties in... Read More

CMHC says housing prices won’t have fully recovered by end of 2022

CMHC says housing prices won’t have fully recovered by end of 2022
OTTAWA — Canada Mortgage and Housing Corp. says it expects home prices and sales to decline substantially this year and still won’t have recovered by the end of 2022. The federal housing agency says in a special housing market outlook that it expects home prices to decline between nine and 18 per cent, and as much as 25 per cent in oil-producing regions, before... Read More

BMO reports Q2 profit down from year ago as provisions for credit losses rise

BMO reports Q2 profit down from year ago as provisions for credit losses rise
TORONTO — BMO Financial Group reported a second-quarter profit of $689 million, down from $1.5 billion a year ago, as it increased the amount set aside for bad loans due to the pandemic. The bank says its total provision for credit losses for the quarter was $1.11 billion, up from $176 million in the same quarter last year. However, BMO... Read More

Financials boost S&P/TSX composite, U.S. stocks mixed at start of trading

Financials boost S&P/TSX composite, U.S. stocks mixed at start of trading
TORONTO — Strength in the financial sector offset losses in the materials sector as Canada’s main stock index moved higher in early trading. The S&P/TSX composite index was up 13.37 points at 15,161.49. In New York, the Dow Jones industrial average was up 345.12 points at 25,340.23. The S&P 500 index was up 22.12 points at 3,013.89, while the Nasdaq... Read More

Royal Bank Q2 profit falls 54 per cent as it increases provisions for bad loans

Royal Bank Q2 profit falls 54 per cent as it increases provisions for bad loans
TORONTO — A massive increase in provisions for bad loans due to the COVID-19 pandemic resulted in Royal Bank of Canada reporting a 54 per cent decline in its second-quarter profit. It recorded a $2.4-billion increase in provisions for credit losses at its personal and commercial banking, capital markets and wealth management units. “We moved quickly to support our clients, including granting payment relief to... Read More