Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: RBI respite? Restaurant Brands International Inc. releases its first quarter financial results on Monday. An Ontario Superior Court judge is expected to approve in the coming days a proposed settlement that will close two cases between RBI and a restive group of Tim Hortons... Read More

Aecon beats expectations as first-quarter loss cut in half on higher revenues

Aecon beats expectations as first-quarter loss cut in half on higher revenues
TORONTO — Aecon Group Inc. beat analyst expectations as its net loss was cut by more than half in the first quarter on a 20-per-cent growth in revenues and a higher backlog. The Toronto-based construction firm says it lost $9.8 million or 16 cents per diluted share for the period ended March 31, compared with a loss of $19.2 million or 32... Read More

Few SNC-Lavalin rivals have been granted DPAs, contrary to CEO’s claims

Few SNC-Lavalin rivals have been granted DPAs, contrary to CEO’s claims
MONTREAL — It was a sunny Wednesday in March, and Neil Bruce was making his case for why SNC-Lavalin Group Inc. deserved a negotiated settlement over corruption charges tied to alleged dealings in Libya. After spending six weeks in the eye of a political storm over the actions of top government officials who had pushed to head off a criminal prosecution... Read More

SNC-Lavalin selling 10.01% stake in Highway 407 to Ontario pension for $3.25B

SNC-Lavalin selling 10.01% stake in Highway 407 to Ontario pension for $3.25B
MONTREAL — SNC-Lavalin Group Inc. has signed a deal to sell part of its stake in 407 International Inc. to the OMERS pension plan. Under the agreement, which has certain conditions, SNC is selling a 10.01 per cent stake in the toll highway operator in a transaction worth up to $3.25 billion. The agreement will see SNC-Lavalin retain a 6.76 per cent... Read More

Saudis punished Canada by halting shipments in ports, denying visas: memo

Saudis punished Canada by halting shipments in ports, denying visas: memo
OTTAWA — The fallout from Saudi Arabia’s move to punish Canadian companies was felt within a month of the countries’ sudden diplomatic feud last summer, leading to visa rejections, a government ban on food from Canada and a blockage of shipments at the kingdom’s ports. A newly released federal document provides a close look at Saudi Arabia’s retaliation against Canada, following criticism by Foreign Affairs Minister Chrystia Freeland on Twitter of... Read More

‘Muddled messaging’ does SNC-Lavalin’s brand image no favours, experts say

‘Muddled messaging’ does SNC-Lavalin’s brand image no favours, experts say
MONTREAL — Public relations experts are questioning SNC-Lavalin Group Inc.’s handling of its corporate image over the past two months, faulting a tight-lipped approach and inconsistent messaging for a tarnished brand. The company has found itself in the hot seat since former attorney general Jody Wilson-Raybould accused top officials in the Trudeau government of pressuring her to steer prosecutors toward negotiations with the engineering... Read More

Survey: US manufacturing activity increased in March

Survey: US manufacturing activity increased in March
WASHINGTON — U.S. manufacturers grew at a faster pace in March, as the pace of employment jumped and new orders and production improved. The Institute for Supply Management, an association of purchasing managers, says that its manufacturing index rose to 55.3 last month, up from 54.2 in February. Readings above 50 point toward an expansion in manufacturing. The sector has... Read More

Quebec’s Caisse has a voice in SNC-Lavalin’s boardroom, and a role in its future

Quebec’s Caisse has a voice in SNC-Lavalin’s boardroom, and a role in its future
MONTREAL — Quebec’s pension fund manager could play an outsize role in whether SNC-Lavalin Group Inc. eventually pulls up stakes for the United States. The engineering and construction giant told federal prosecutors that its “Plan B” in the event of criminal prosecution on corruption charges is to move its headquarters south of the border and shed more than 60 per... Read More

SNC warned of U.S. move, slashing workforce if no plea deal, documents show

SNC warned of U.S. move, slashing workforce if no plea deal, documents show
OTTAWA — Newly obtained documents show SNC-Lavalin warned federal prosecutors last fall about a possible plan to split the company in two, move its offices to the United States and eliminate its Canadian workforce if it didn’t get a deal to avoid criminal prosecution. The documents, a collection of slides described as a confidential presentation prepared for the federal government, were obtained by The Canadian Press. They describe “Plan... Read More