Manulife financial reports lower second quarter net income of$727 million

Manulife financial reports lower second quarter net income of$727 million
TORONTO — Manulife Financial Corp. is reporting second-quarter net income attributable to shareholders of $727 million — just under half of the $1.475 billion it earned in the same period of 2019 — as it dealt with challenges of the COVID-19 pandemic. Its diluted earnings per common share came in at 35 cents in the three months ended June 30, down from 73 cents in... Read More

WSP Global issues new guidance, reports ‘solid’ Q2 profit, revenue

WSP Global issues new guidance, reports ‘solid’ Q2 profit, revenue
MONTREAL — WSP Global Inc. is restating 2020 guidance withdrawn as the COVID-19 pandemic set in earlier this year as it reports a “solid” financial performance in the second quarter. The engineering firm says it had net earnings of $88.3 million or 83 cents per share in the three months ended June 30 on revenue of $2.2 billion. That’s little changed... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,501.61, up 133.58 points.) Enbridge Inc. (TSX:ENB). Energy. Down 30 cents, or 0.68 per cent, to $43.65 on 8.43 million shares. Baytex Energy Corp. (TSX:BTE). Energy. Up one cent, or 1.52 per cent, to 67 cents on 7.998 million shares. Zenabis Global Inc. (TSX:ZENA). Healthcare. Up one cent, or 9.09... Read More

TSX closes higher as energy, loonie strengthen and gold reaches another record

TSX closes higher as energy, loonie strengthen and gold reaches another record
TORONTO — Canada’s main stock index closed in positive territory as oil prices and the loonie strengthened and gold reached another all-time high. The S&P/TSX composite index was up 133.58 points at 16,501.61. In New York, the Dow Jones industrial average was up 372.84 points at 27,201.31. The S&P 500 index was up 21.26 points at 3,327.77, while the Nasdaq composite was up 57.23 points at 10,998.40... Read More

Great-West Lifeco net earnings rise to $863 million amid sale of subsidiary

Great-West Lifeco net earnings rise to $863 million amid sale of subsidiary
Great-West Lifeco Inc. nearly doubled its second-quarter earnings from last year as it benefited from investments in digital technology and a market rebound from COVID-19. The insurance and wealth management company reported its net earnings attributable to common shareholders reached $863 million or 93 cents per share in the three months ended June 30. That compared with $459 million or 49 cents per share for the same quarter... Read More

CN, CP ship record grain volumes in 2019-2020 despite blockades and COVID-19

CN, CP ship record grain volumes in 2019-2020 despite blockades and COVID-19
Canada’s two major railways shipped record amounts of grain over the past crop year despite a gauntlet of obstacles. Canadian National Railway Co. hauled more than 30 million tonnes of grain in 2019-20, a seven-per-cent increase from the previous year. Canadian Pacific Railway Ltd. moved 10 per cent more grain at 29.5 million tonnes. The railroads attribute the achievement to... Read More

Bausch to pay $94 million plus costs to resolve Canadian securities class action

Bausch to pay $94 million plus costs to resolve Canadian securities class action
LAVAL, Que. — Bausch Health Companies Inc. (TSX:BHC) says it is ending significant legal matters from the Valeant era by agreeing to pay $94 million plus administration costs to resolve a Canadian securities class action. The action filed in Quebec Superior Court in 2015 alleged violations of Canadian securities laws over a stock plunge that hit investors about five years... Read More

Norbord beats expectations with US$18M profit in Q2 despite lower sales

Norbord beats expectations with US$18M profit in Q2 despite lower sales
TORONTO — Norbord Inc. (TSX:OSB) beat expectations as it swung to an US$18-million profit in the second quarter despite a six-per-cent drop in revenues. The Toronto-based forest products company, which reports in U.S. dollars, says it earned 22 cents per share, down from a loss of 17 cents per share of $14 million a year earlier. Excluding one-time items including a... Read More

Feds earmark $3.3B for provinces, territories for COVID-19 infrastructure

Feds earmark $3.3B for provinces, territories for COVID-19 infrastructure
OTTAWA — The federal government is moving ahead with plans to make it easier for provinces and territories to spend billions of dollars on infrastructure projects to address the challenges posed by COVID-19. Infrastructure Minister Catherine McKenna says $3.3 billion out of the $33 billion that Ottawa has previously promised in matching funds for provincial and territorial projects will be available for projects... Read More