CN Rail in joint bid for stake in largest container terminal in Eastern Canada

CN Rail in joint bid for stake in largest container terminal in Eastern Canada
HALIFAX — Canadian National Railway is bidding to acquire a stake in the largest container terminal in Eastern Canada. The Montreal-based company has confirmed joining a partner to bid for an interest in Halterm, a 30-hectare site at the Port of Halifax, but is declining to provide details. Halifax is Canada’s fourth-busiest port in terms of container traffic, behind Vancouver, Montreal and... Read More

2019 marks beginning of CPP enhancements to be rolled out over seven years

2019 marks beginning of CPP enhancements to be rolled out over seven years
TORONTO — The biggest change to the country’s pension plans in more than a decade will take place in the new year, but the effects will be felt differently depending on which generation you belong to. Beginning in early 2019, the Canada Pension Plan and Quebec Pension Plan will phase in enhanced benefits over the next seven years to provide more financial... Read More

Canadian trade deficit grew in October as oil prices weighed on exports

Canadian trade deficit grew in October as oil prices weighed on exports
OTTAWA — Falling oil prices took a bite out of exports in October as Canada’s merchandise trade deficit increased to roughly $1.2 billion in October compared with $891 million in September, Statistics Canada said Thursday. Economists had expected a deficit of $700 million, according to Thomson Reuters Eikon. “October’s surprise disappointment in the trade deficit adds to weakness from the... Read More

Bombardier forecasts 10% revenue boost in 2019 after plans for 5,000 layoffs

Bombardier forecasts 10% revenue boost in 2019 after plans for 5,000 layoffs
MONTREAL — Bombardier Inc. says its largest jetliner, a massive rail backlog and aftermarket services will propel the plane-and-train maker to 10 per cent revenue growth in 2019, roughly in line with analyst expectations. The 2019 guidance comes in the wake of a 60 per cent stock dive over the past five months and recent restructuring plans that will see... Read More

Metro Vancouver home sales and prices down to more ‘historical’ levels: board

Metro Vancouver home sales and prices down to more ‘historical’ levels: board
VANCOUVER — Both sales and prices for Metro Vancouver homes have dropped in what the head of the Real Estate Board of Greater Vancouver says is a return to historical demand levels. Board president Phil Moore says home buyers have been taking a wait-and-see approach for most of 2018 and the slower activity has prompted home prices to edge downward across all property... Read More

WestJet aims for turnaround after turbulent year that saw profits plunge

WestJet aims for turnaround after turbulent year that saw profits plunge
TORONTO — Westjet Airlines Ltd. says it aims to lift its lagging profits over the next four years, predicting earnings growth of 40 per cent on a per share basis between 2019 and 2022 after a turbulent year that saw profits plunge. Soaring fuel costs, labour unrest, and steep competition at home and abroad caused Canada’s second-largest airline to incur... Read More

Thomson Reuters to cut global workforce by 12%, slash 3,200 jobs

Thomson Reuters to cut global workforce by 12%, slash 3,200 jobs
TORONTO — Thomson Reuters Corp. says it is cutting 12 per cent of its global workforce, or 3,200 full-time jobs, by 2020. The news and information company made the announcement at its annual investor day conference in Toronto. Executives at Thomson Reuters says the move is part of a larger plan to further reduce the company’s expenses over the next two... Read More

Teck sells 30 per cent stake in Quebrada Blanca Phase 2 to Sumitomo for US$1.2B

Teck sells 30 per cent stake in Quebrada Blanca Phase 2 to Sumitomo for US$1.2B
VANCOUVER — Teck Resources Ltd. has sold a 30 per cent stake in its Quebrada Blanca Phase 2 project to Sumitomo Metal Mining Co. Ltd. and Sumitomo Corp. for US$1.2 billion. The Vancouver-based miner also says that its board has approved the project for full construction with first production expected in the second half of 2021. Quebrada Blanca Phase 2 is a... Read More

Majority of Montreal condo investors have negative cash flow: CMHC

Majority of Montreal condo investors have negative cash flow: CMHC
TORONTO — A report by Canada Mortgage and Housing Corp. suggests a majority of landlord investors who bought properties in large, high-rise condominium buildings in downtown Montreal are not collecting enough rent to recoup their operating expenses. The national housing agency estimates that investors who made a 20 per cent down payment on their properties are spending more on mortgage payments,... Read More

Fake website launched in New Brunswick to educate investors about real scams

Fake website launched in New Brunswick to educate investors about real scams
FREDERICTON — People who fell for a website hyping a too-good-to-be-true investment opportunity for New Brunswick’s coastline got lucky: The scam wasn’t intended to trap potential investors, but to teach them. The site was created by New Brunswick’s Financial and Consumer Services Commission, who decided that a good way to educate people about real investment scams was to launch their... Read More