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 (16,169.20, down 130.09) Bombardier Inc. (TSX:BBD.B). Industrials. Up about two cents, or 3.33 per cent, to nearly $0.47 on 8.55 million shares. Kinross Gold Corp. (TSX:K). Basic Materials. Up 80 cents, or 6.84 per cent, to $12.50 on 7.5 million shares. Air Canada.... Read More

Fairfax Financial Q2 profits drop as first half COVID losses near US$400 million

Fairfax Financial Q2 profits drop as first half COVID losses near US$400 million
TORONTO — Fairfax Financial Holdings Ltd. says its net income attributable to shareholders decreased 12 per cent in its latest quarter as COVID-19 losses in the first six months of the year approached US$400 million. The Toronto-based company says it earned US$434.9 million or US$15.26 per diluted share for the three months ended June 30, down from US$494.3 million or... Read More

US consumer spending up 5.6%, but virus could stall gains

US consumer spending up 5.6%, but virus could stall gains
WASHINGTON — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus’ resurgence in much of the country could impede further gains. Last month’s rise in consumer spending followed a seasonally adjusted 8.5% surge in May after... Read More

Oil giants lost billions as pandemic crushed demand for fuel

Oil giants lost billions as pandemic crushed demand for fuel
NEW YORK — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost $1.1 billion in the second quarter, and the Irving, Texas-based oil producer brought in $32.6 billion in revenue,... Read More

Imperial Oil cautious on ramping up operations as it reports Q2 earnings miss

Imperial Oil cautious on ramping up operations as it reports Q2 earnings miss
CALGARY — The CEO of Imperial Oil Ltd. says the company will be cautious in ramping up spending despite a recovery in fuel demand following the collapse earlier this year amid the COVID-19 pandemic lockdowns. Brad Corson said the company can’t talk about whether it will reverse this year’s spending cuts next year, but it’s unlikely spending will return to pre-COVID... Read More

Telus Q2 profit drops 39 per cent to $315 million despite uptick in revenues

Telus Q2 profit drops 39 per cent to $315 million despite uptick in revenues
Telus Corp.’s net income fell 39 per cent in its latest quarter to $315 million despite an uptick in revenues, as operating expenses at its wired services increased from the same time last year. The Vancouver-based telecommunications company — which owns the Telus, Koodo and Public Mobile wireless brands and internet and video services — said Friday that it earned $315 million or... Read More

Centerra Gold boosts dividend after Q2 profits surge to US$80.7 million

Centerra Gold boosts dividend after Q2 profits surge to US$80.7 million
TORONTO — Centerra Gold Inc. is boosting its quarterly dividend by 25 per cent after reporting that earnings soared in its latest quarter on a 21-per-cent boost in revenues. The Toronto-based mining company says it will pay five cents per share, up from four cents. Centerra earned US$80.7 million or 27 cents per share in the second quarter, up from US$33.4... Read More

Imperial Oil beats on Q2 oil production, post higher than expected loss

Imperial Oil beats on Q2 oil production, post higher than expected loss
CALGARY — Shares in Imperial Oil Ltd. are trading lower after it beat analyst expectations on oil and gas production but reported a higher-than-forecast second-quarter loss. The Calgary-based company reported a net loss of $526 million on revenue of $3.7 billion in the three months ended June 30, down from a net profit of $1.2 billion on revenue of $9.26 billion... Read More

Air Canada loses $1.75 billion as CEO demands looser travel restrictions

Air Canada loses $1.75 billion as CEO demands looser travel restrictions
MONTREAL — Air Canada suffered a $1.75-billion loss last quarter as revenues plummeted amid travel restrictions and a collapse in demand stemming from the COVID-19 pandemic. Passenger revenues at the Montreal-based company dropped by 95 per cent compared with the same period last year, while the airline burned through $19 million of cash per day, prompting the CEO to renew... Read More