CBRE predicts record $50 billion investment for commercial real estate this year

CBRE predicts record $50 billion investment for commercial real estate this year
TORONTO — CBRE says Canada could see a record-breaking $50-billion worth of investment in commercial real estate this year as macroeconomic tailwinds and immigration policies support the booming sector. The commercial real estate services firm says the investment would be about $5 billion higher than 2019 and about a billion dollars higher than the record set in 2018. Heightened interest in the market... Read More

Coalition tells CRTC more affordable wireless options are needed

Coalition tells CRTC more affordable wireless options are needed
GATINEAU, Que. — A coalition of groups representing consumers, low-income and Indigenous people in Manitoba says Canada’s telecom regulator needs to do something soon to make mobile wireless services more affordable. The Manitoba coalition says there is ample evidence that Canada’s mobile data prices have historically been high compared with what’s available in other countries and they only become less expensive when competition increases.... Read More

Virus outbreak chills markets, outlook for global economy

Virus outbreak chills markets, outlook for global economy
FRANKFURT — The widening coronavirus outbreak threatens to seriously disrupt the global economy, just as it was steadying itself against headwinds from the U.S.-China trade dispute. Amid concerns that global output could decline for the first time since the global financial crisis a little more than a decade ago, stock markets sank Monday. In one sign of how sentiment has... Read More

Air Canada signs two Quebec aircraft maintenance deals, subject to Transat deal

Air Canada signs two Quebec aircraft maintenance deals, subject to Transat deal
MONTREAL — Air Canada has signed two agreements for airframe maintenance in Quebec, subject to its takeover of Transat AT. The airline and AAR have signed a letter of intent for a 10-year renewable agreement for airframe maintenance of both Air Canada’s and Air Transat’s fleet of Airbus A330 and A320 family of aircraft in Trois-Rivieres, Que. AAR plans to... Read More

MTY Food Group reports Q4 profit up from year ago, says allegations baseless

MTY Food Group reports Q4 profit up from year ago, says allegations baseless
MONTREAL — MTY Food Group Inc. reported a fourth-quarter profit of $20.7 million, up from $13.2 million in the same quarter a year earlier, as it said allegations by an employee that had delayed the release of its quarterly results are baseless. The company says it cannot give details regarding the allegations, but that after taking the additional time to... Read More

Lululemon stores in China mostly closed due to novel coronavirus outbreak

Lululemon stores in China mostly closed due to novel coronavirus outbreak
VANCOUVER — Lululemon Athletica Inc. says most of its stores in China have been closed since early February due to the novel coronavirus outbreak. The Vancouver-based company says that most of its 38 stores in the country have been closed since Feb. 3 following guidance from local authorities. It says some are now operating on a reduced schedule, while its... Read More

Auto parts company Magna International raises dividend, tops estimates

Auto parts company Magna International raises dividend, tops estimates
AURORA, Ont. — Magna International Inc. raised its dividend as it reported a fourth-quarter profit attributable to the company of US$440 million. The auto parts maker says it will now pay a quarterly dividend of 40 cents per share, up from 36.5 cents per share. The increased payment to shareholders came as Magna says its latest profit amounted to US$1.43... Read More

OSC seeking changes to rules for deferred sales charges on mutual funds

OSC seeking changes to rules for deferred sales charges on mutual funds
TORONTO — The Ontario Securities Commission is proposing to restrict the use of deferred sales charges in the sale of mutual funds as every other jurisdiction across the country moves to ban them. The provincial regulator wants to limit the circumstances in which mutual funds with the DSC option may be sold and give clients greater flexibility to redeem their investments without... Read More

New Caisse CEO stresses caution after 10-year bull market and soft 2019 returns

New Caisse CEO stresses caution after 10-year bull market and soft 2019 returns
MONTREAL — The Caisse de depot et placement du Quebec says it missed its benchmark portfolio last year due to lacklustre performance of real estate and infrastructure assets and a focus on long-term stability, even as enjoyed its strongest return on investment in five years. The Quebec pension fund manager generated a 10.4 per cent annual return on investments in 2019, or... Read More

Gildan reports Q4 profit and sales down, but raises quarterly dividend

Gildan reports Q4 profit and sales down, but raises quarterly dividend
MONTREAL — Gildan Activewear Inc. reported its fourth-quarter profit fell compared with a year earlier as the company also saw sales fall and it recorded a charge related to a shift in strategy. However, the clothing maker raised its quarterly dividend 15.4 cents from its previous rate of 13.4 cents. Gildan, which keeps its books in U.S. dollars, says it earned... Read More