Air Canada’s $520M bid for Transat unlikely to be topped: analysts

Air Canada’s $520M bid for Transat unlikely to be topped: analysts
Analysts say it’s unlikely another bidder will emerge to trump Air Canada’s $520-million proposed takeover of rival Transat AT Inc. Air Canada announced Thursday it had entered into a 30-day exclusive arrangement to try to negotiate the purchase of the parent company of airline Air Transat for $13 per share. Transat shares were unchanged Friday after rising more than 13.4 per cent on... Read More

CAE reports fourth-quarter profit and revenue up from year ago mark

CAE reports fourth-quarter profit and revenue up from year ago mark
MONTREAL — Flight training company CAE Inc. topped expectations as it reported higher fourth-quarter profit and revenue compared with a year ago. The Montreal-based company says it earned $122.3 million attributable to shareholders or 46 cents per share for the quarter ended March 31, compared with a profit of $82.3 million or 31 cents per share a year ago. Revenue totalled $1.02 billion, up... Read More

Air Canada stock hits new high on news of exclusive talks to buy Transat AT

Air Canada stock hits new high on news of exclusive talks to buy Transat AT
MONTREAL — Air Canada’s interest in buying rival Transat AT Inc. for about $520 million got positive feedback from industry watchers and stock traders after the two companies announced Thursday that they’re in exclusive talks to finalize a deal. The two companies say Air Canada — the country’s largest airline — would pay $13 per share for Transat, the Montreal-based owner of Air... Read More

Transat in exclusive talks with Air Canada to be acquired for $13 per share

Transat in exclusive talks with Air Canada to be acquired for $13 per share
MONTREAL — Transat AT Inc. is in exclusive talks with Air Canada, which is offering roughly $488 million to buy the travel company. The Montreal-based company says it has agreed to a 30-day period of exclusive negotiations regarding a possible deal at a price of $13 per share. Transat shares closed at $10.58 on the Toronto Stock Exchange on Wednesday. The company offers vacation packages,... Read More

Space-tourism dream edges toward reality in New Mexico

Space-tourism dream edges toward reality in New Mexico
SANTA FE, N.M. — British billionaire Richard Branson is taking another concrete step toward offering rides into the close reaches of space for paying passengers. Branson announced Friday that Virgin Galactic will immediately begin shifting operations from California to a spaceport and specialized runway in the New Mexico desert in final preparations for commercial flights. He says Virgin Galactic’s development... Read More

Bombardier facing World Bank ban over Azerbaijan corruption allegations

Bombardier facing World Bank ban over Azerbaijan corruption allegations
MONTREAL — Bombardier Inc. is facing a possible ban from World Bank-financed projects after it received a show-cause letter related to a rail equipment deal plagued by corruption allegations. The letter is the latest development in an ongoing investigation into a roughly $340-million contract awarded to a Bombardier-led consortium in 2013 to supply signalling equipment for a 500-kilometre section of... Read More

Enbridge aiming to boost Mainline throughput as Q1 results top expectations

Enbridge aiming to boost Mainline throughput as Q1 results top expectations
CALGARY — Enbridge Inc. is working with shippers to optimize its Mainline pipeline system in a bid to boost throughput by 50,000 to 100,000 barrels per day. Chief executive Al Monaco said Friday that although its Liquids Mainline System — the largest export option for western Canadian producers — was full and hit a record this quarter, storage levels in Alberta remain... Read More

Your Uber has arrived, on Wall Street

Your Uber has arrived, on Wall Street
SAN FRANCISCO — Uber’s next stop is the stock market, where it hopes to pick up more investors willing to bet on a ride-hailing market brimming with potential and conspicuously lacking in profits. The world’s largest ride-hailing service reached a major milestone Thursday when Uber priced its long-awaited initial public offering at $45 price per share to set the stage... Read More

Auto parts maker Magna International reduces profit guidance for 2019

Auto parts maker Magna International reduces profit guidance for 2019
AURORA, Ont. — Magna International Inc. cut its outlook for the year as it lowered its expectations for auto production and reported sales in its latest quarter fell compared with a year ago. The auto parts company, which reports in U.S. dollars, says it now expects a profit this year between US$1.9 billion and $2.1 billion, compared with earlier expectations for... Read More

Canada’s two largest railways moved record grain tonnage in April

Canada’s two largest railways moved record grain tonnage in April
MONTREAL — Canada’s two largest railways say they moved a record amount of grain out of Western Canada in April. Canadian National Railway says it shipped 2.72 million tonnes of grain, while Calgary-based rival Canadian Pacific Railway says it moved 2.64 million tonnes. Montreal-based CN says its grain shipments for the month compared with a three-year average of 2.23 million tonnes.... Read More