Lululemon Q2 profits slips but sales increase, driven by e-commerce surge

Lululemon Q2 profits slips but sales increase, driven by e-commerce surge
VANCOUVER — Lululemon Athletica Inc. beat expectations as second-quarter profits slipped despite a two-per-cent increase in sales driven by a surge in online revenues. The Vancouver-based athleisure retailer says it earned US$86.8 million or 66 cents per diluted share, down from US$125 million or 96 cents per share a year earlier. Revenues for the period ended Aug. 2 were US$902.9 million,... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (16,099.52, down 118.49 points.) Suncor Energy Inc. (TSX:SU). Energy. Down $1.72, or 8.5 per cent, to $18.52 on 31.8 million shares. Canadian Natural Resources (TSX:CNQ). Down $2.08, or 8.09 per cent, to $23.63 on 12.1 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Down 10 cents, or 0.52 per cent, to $19.06... Read More

S&P/TSX composite down as Nasdaq loses 10 per cent over three days

S&P/TSX composite down as Nasdaq loses 10 per cent over three days
TORONTO — Canada’s main stock index fared better than its U.S. counterparts even as the technology pullback carried over into a second week of trading. The S&P/TSX composite index closed down 118.49 points to 16,099.52. In New York, the Dow Jones industrial average was down 632.42 points at 27,500.89. The S&P 500 index was down 95.12 points at 3,331.84, while... Read More

Mining deal value fell by over $18bn in first half of 2020, as COVID-19 disrupts flow of capital, says GlobalData

Mining deal value fell by over $18bn in first half of 2020, as COVID-19 disrupts flow of capital, says GlobalData
Global mining deal value, suffering from an unanticipated shock from the COVID-19 pandemic, fell by over US$18bn when compared to the first half of 2019 to US$46.6bn in the first half of 2020. An expected slump in the global economy, steered by a series of challenges, has kept investors away from long-term financial instruments, resulting in a 12.7% y-o-y fall... Read More

GM to make electric vehicle, supply batteries for Nikola

GM to make electric vehicle, supply batteries for Nikola
DETROIT — General Motors announced its second major electric vehicle partnership in less than a week on Tuesday, this time a $2 billion deal with startup Nikola. GM will take an 11% ownership stake in the Phoenix company and will engineer and build Nikola’s Badger hydrogen fuel cell and electric pickup truck. The Badger is expected to be in production... Read More

Uber unveils Canadian commitments in bid to reach zero-emissions goal by 2040

Uber unveils Canadian commitments in bid to reach zero-emissions goal by 2040
TORONTO — Uber Technologies Inc. is launching a handful of sustainability measures in Canada in an effort to reach lofty goals it has set for lowering greenhouse gas emissions. The San Francisco-based tech giant says it will introduce its Uber Green service, which offers electric and hybrid vehicle rides, to more than 30 cities this year including Toronto, Vancouver, Waterloo and Ottawa. Uber will charge riders an extra dollar per Green trip, but... Read More

Suncor shares fall on lower production after oilsands mine fire repairs wrap up

Suncor shares fall on lower production after oilsands mine fire repairs wrap up
CALGARY — Shares in Suncor Energy Inc. traded sharply lower on Tuesday after it trimmed 2020 production guidance despite restarting its Base Plant oilsands mining operation following a fire in mid-August. In Toronto, the shares fell by as much as $1.80 or 8.9 per cent to $18.44 as financial analysts rated its new production guidance as negative but welcomed news the repair costs at... Read More

Campaign to succeed PM Abe as party leader begins in Japan

Campaign to succeed PM Abe as party leader begins in Japan
TOKYO — The official campaigning to head Japan’s ruling party began Tuesday, with outgoing Prime Minister Shinzo Abe’s longtime right-hand man now seen as a front-runner to succeed him and complete his unfinished business, including coronavirus and economic measures. Chief Cabinet Secretary Yoshihide Suga, 71, formally submitted his candidacy for the Liberal Democratic Party leadership Tuesday after announcing his intention... Read More

Ford Motor to face off with union as labour negotiators narrow focus

Ford Motor to face off with union as labour negotiators narrow focus
TORONTO — Unifor says Ford Motor Co. will be the target of this year’s labour union negotiations, ahead of a strike deadline later this month. The union renegotiates wages, pensions and benefits every four years, targeting one of the Detroit Three automakers. This year, Ford will be the focus of negotiations, and the company’s deal with Unifor will serve as... Read More

Aurora names new CEO, expects up to $1.8B in goodwill impairment charges

Aurora names new CEO, expects up to $1.8B in goodwill impairment charges
EDMONTON — Aurora Cannabis Inc. promoted Miguel Martin to chief executive and warned that it expects to record up to $1.8 billion in goodwill impairment charges in the fourth quarter of its 2020 financial year. Martin was chief executive of U.S. CBD company Reliva when Aurora acquired it earlier this year and became chief commercial officer at Aurora in July.... Read More