Tolko Industries curtails all B.C. operations during two-week holiday break

Tolko Industries curtails all B.C. operations during two-week holiday break
VERNON, B.C. — British Columbia wood products company Tolko Industries says continuing low lumber prices and high log costs have forced it to schedule a two-week shutdown affecting all its B.C. operations. The privately owned, Vernon-based company says the curtailment will run from Dec. 21 to Jan. 6, while the head office will be closed from Dec. 23 to 27. A statement... Read More

Imperial ‘scurrying’ to ramp up crude by rail but uninterested in rail contracts

Imperial ‘scurrying’ to ramp up crude by rail but uninterested in rail contracts
CALGARY — Imperial Oil Ltd. is “scurrying” to quickly ramp up crude-by-rail shipments from its Edmonton terminal to take advantage of improved profitability caused by the Keystone pipeline spill in North Dakota, CEO Rich Kruger said Tuesday. But the company has little interest in buying $3.7 billion in rail contracts the provincial government is trying to unload because the market is too volatile to count... Read More

Supreme Court set to hear Uber case with implications for gig economy

Supreme Court set to hear Uber case with implications for gig economy
OTTAWA — The Supreme Court of Canada is set to start to hear a case today brought by Uber with potentially significant implications for the gig economy. The company has challenged an Ontario Court of Appeal decision that found the company’s contract clause that requires arbitration, rather than allowing class-action lawsuits, was invalid and unconscionable. The lower court ruling came about after... Read More

While losses mount, Uber CEO expects profitability in 2021

While losses mount, Uber CEO expects profitability in 2021
NEW YORK — The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years. CEO Dara Khosrowshahi said Monday that the company’s goal is to reach profitability — when adjusted for interest, taxes, depreciation and amortization — for the full year of 2021. “We hope that we’ve shown you that we... Read More

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues

Western oil prices slip as Keystone N.D. pipeline leak cleanup continues
CALGARY — Prices for Western Canadian Select oil continued to soften on Monday as TC Energy Corp. reported recovering about half the crude that leaked from its Keystone pipeline in North Dakota last week. Spokesman Terry Cuhna says about 4,300 barrels of oil have been recovered from the 9,120 barrels initially estimated to have leaked from the pipeline into a field near Edinburg,... Read More

Lyft loses money again but eyes profits in about 2 years

Lyft loses money again but eyes profits in about 2 years
NEW YORK — Lyft is continuing to lose staggering sums of money as it barrels ahead with impressive revenue growth, but its executives said they believe the company will turn a corner and reach profitability in about two years. The ride-hailing heavyweight raised $955.6 million in revenues in the third quarter, up 63% from the same time last year, the... Read More

Air Canada earnings fall under weight of Boeing 737 Max grounding

Air Canada earnings fall under weight of Boeing 737 Max grounding
MONTREAL — Air Canada’s shares hit an all-time high Tuesday even though its earnings fell slightly below expectations last quarter as the grounding of the Boeing 737 Max continues to weigh down the country’s largest airline. The shares gained about five per cent or $2.30 at $48.02 in late-morning trading on the Toronto Stock Exchange. Chief executive Calin Rovinescu cited “the serious disruption... Read More

Boeing replaces executive who oversaw 737 Max, other planes

Boeing replaces executive who oversaw 737 Max, other planes
Boeing is replacing the head of its commercial-airplanes division as it struggles with a crisis created by two deadly crashes of its newest airliner. Boeing said Tuesday that Kevin McAllister is out as chief executive of Boeing Commercial Airplanes. He is being replaced by Stanley Deal, leader of Boeing’s services division. The shake-up in Boeing’s top ranks comes just days... Read More

Google affiliate begins drone deliveries in Virginia town

Google affiliate begins drone deliveries in Virginia town
A Google affiliate is using drones to deliver customers’ Walgreens purchases in a test being run in a Virginia town. Wing, which is owned by Google parent Alphabet, received federal approval earlier this year to make commercial deliveries by drone. It was the first drone company to receive the approval in the U.S., beating out Amazon’s Prime Air. Wing partnered... Read More

Air Canada scrubs 737 Max from schedule until Feb. 14, affecting thousands

Air Canada scrubs 737 Max from schedule until Feb. 14, affecting thousands
MONTREAL — Air Canada is keeping the Boeing 737 Max off its flying schedule until Feb. 14, citing “regulatory uncertainty” that will affect thousands of passengers. The country’s biggest airline had earlier scrubbed the 24 jetliners from schedules until Jan. 8. Boeing has said it expects federal authorities to greenlight software changes to the bestselling aircraft in the fourth quarter, but regulators say they... Read More