Major North American indexes move up, while gold continues setting records

Major North American indexes move up, while gold continues setting records
TORONTO — Major North American indexes advanced Thursday, while the price of gold reached a new height. Markets were up “modestly,” said Anish Chopra, managing director with Portfolio Management Corp, with gains at or below one per cent. The S&P/TSX composite index gained 77.49 points to 16,579.10. In New York, the Dow Jones industrial average rose 185.46 points, or 0.68... Read More

Onex Corp. swings to profit as markets rebound following first-quarter plunge

Onex Corp. swings to profit as markets rebound following first-quarter plunge
TORONTO — Onex Corp. says it swung to a profit in the second quarter, rebounding from segment losses of more than $1.1 billion in the first three months of the year as markets roared back in spite of the pandemic. The investment management firm, which reports in U.S. dollars, says net gains in Onex’s private equity and credit investments rode the... Read More

Bombardier says business jet activity picking up after taking COVID-19 hit

Bombardier says business jet activity picking up after taking COVID-19 hit
Bombardier Inc. says it is starting to see an improvement in business jet activity as interest in private travel grows after the COVID-19 pandemic forced it to ground its global operations and take a big financial hit in the second quarter. Industry business aircraft deliveries decreased 30 per cent from the prior year, but longer-term trends are encouraging, says CEO Eric... Read More

Hotels, mall closures drive $1.5 billion loss for Brookfield Property

Hotels, mall closures drive $1.5 billion loss for Brookfield Property
Mall closures and investments in hotels dragged down earnings this spring for Brookfield Property, which on Thursday said it lost money in the second quarter. Brookfield Property, which reports in U.S. dollars, reported a net loss of $1.512 billion, or $1.26 per unit, for the three months ending June 30. During the same period a year ago, the company earned... Read More

Bausch to spin off eye care business; misses expectations with wide Q2 loss

Bausch to spin off eye care business; misses expectations with wide Q2 loss
Bausch Health Companies Inc. is planning to spin off its iconic eye care business into an independent publicly traded company, Canada’s largest publicly traded pharmaceutical producer said Thursday. The firm, based near Montreal in Laval, Que., said the spinoff of Bausch + Lomb would allow it to focus on its gastroenterology, aesthetics/dermatology, neurology and international pharma business. The former Valeant Pharmaceuticals acquired Bausch... Read More

No summer slowdown in Toronto real estate as July shatters sales record

No summer slowdown in Toronto real estate as July shatters sales record
TORONTO — July was a record-breaking month for Toronto real estate sales, as 11,081 homes changed hands. The Toronto Regional Real Estate Board says existing home sales in the Greater Toronto Area jumped 29.5 per cent compared with July 2019, hitting a new high for the month. Average home prices are also up 16.9 per cent from a year ago,... Read More

Energy pushes TSX higher in early trading while U.S. stock markets dip

Energy pushes TSX higher in early trading while U.S. stock markets dip
TORONTO — Energy pushed Canada’s main stock index up in early morning trading while U.S. markets fell as investors wait for new fiscal stimulus. The S&P/TSX composite index was up 34.43 points at 16,536.04. In New York, the Dow Jones industrial average was up down 10.59 points at 27,190.93. The S&P 500 index was down 3.47 points at 3,324.30 while the Nasdaq composite was down 14.32... Read More

Canadian Natural beats expectations despite loss and halving of revenues

Canadian Natural beats expectations despite loss and halving of revenues
CALGARY — Canadian Natural Resources Ltd. beat analyst expectations despite swinging to a loss in its latest quarter on a halving of revenues. The Calgary-based energy producer says it lost $310 million or 26 cents per share in the second quarter, compared with a year-ago profit of $2.8 billion or $2.36 per share. Its adjusted loss was $772 million or 65... Read More