Canada’s multibillion-dollar national shipbuilding strategy, at a glance

Canada’s multibillion-dollar national shipbuilding strategy, at a glance
OTTAWA — The federal government announced $1.5 billion in contracts — $1 billion worth finalized and another worth $500 million to come — Tuesday to keep a dozen warships running for another 20 years as part of Canada’s decades-long, multibillion-dollar national shipbuilding strategy. What is the national shipbuilding strategy? The strategy, launched in 2010 by the then-Conservative government, is to supply new vessels — for both combat and... Read More

Johnson & Johnson 2Q profit jumps 42% despite lower sales

Johnson & Johnson 2Q profit jumps 42% despite lower sales
Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 per cent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune disorder drugs on Tuesday raised its full-year sales forecast,... Read More

Producers still cautious despite higher Q2 expectations on stronger oil prices

Producers still cautious despite higher Q2 expectations on stronger oil prices
CALGARY — Higher oil prices are expected to boost cash flow for the large Canadian crude producers as they roll out second-quarter results beginning next week, but analysts say the extra money is unlikely to be added to growth budgets. Canadian oil prices steadied in comparison with U.S. benchmarks in the three months ended June 30 following two quarters of volatility blamed on the... Read More

Wood products producer Stella-Jones says CEO Brian McManus to step down

Wood products producer Stella-Jones says CEO Brian McManus to step down
MONTREAL — Wood-products producer Stella Jones Inc. says company president and CEO Brian McManus will step down later this year after 18 years at the company. The company’s share price was down almost seven per cent in midday trading on the Toronto Stock Exchange after announcing the news. Stella-Jones says McManus will leave his post on October 11 and will work with... Read More

Aimia names two new directors with investment banking experience to its board

Aimia names two new directors with investment banking experience to its board
MONTREAL — Aimia Inc. has named two new independent directors with investment banking experience to its board. The loyalty rewards company says it has added Dieter Jentsch and Frederick Mifflin to its board, effective immediately. Jentsch is a former Scotiabank executive who most recently served as group head of global banking and markets, where he oversaw the bank’s corporate and investment... Read More

China’s economy growth cools further amid US tariff war

China’s economy growth cools further amid US tariff war
BEIJING — China’s economic growth slowed to its lowest level in a decade in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world’s second-largest economy grew 6.2% over a year ago, down from the previous quarter’s 6.4%, government data showed Monday. That was the weakest growth since the... Read More

AP Source: VW investing $2.6B in Ford-owned robocar firm

AP Source: VW investing $2.6B in Ford-owned robocar firm
DETROIT — Volkswagen will sink $2.6 billion into a Pittsburgh autonomous vehicle company that’s mostly owned by Ford as part of a broader partnership with the U.S. No. 2 automaker, according to a person briefed on the matter. The German and U.S. manufacturers will co-operate on the development of electric vehicles, the automakers will announce Friday in New York. The... Read More

Aimia shareholder claims chairman’s “outrageous conduct” at AGM demands a redo

Aimia shareholder claims chairman’s “outrageous conduct” at AGM demands a redo
MONTREAL — An Aimia Inc. shareholder is calling for a redo of last month’s annual general meeting, which he says was “plagued with irregularities” and “outrageous conduct.” Charles Frischer, who says he speaks for a group of shareholders and holds 1.6 per cent of the company’s outstanding shares, says the chairman refused to conduct votes or take questions and allowed security guards... Read More

Cogeco’s additions of U.S. internet subscribers was Q3 bright spot, analysts say

Cogeco’s additions of U.S. internet subscribers was Q3 bright spot, analysts say
MONTREAL — Analysts say they are surprised by the reported financial and subscriber strength of Atlantic Broadband, the main U.S. subsidiary of Montreal-based cable and internet provider Cogeco Communications Inc. Notes issued by RBC Dominion Securities and Canaccord Genuity say Cogeco added more than 14,000 internet subscribers in the United States during the company’s fiscal third quarter ended May 31. They also... Read More