Lyft posts strong growth, big losses in first public quarter

Lyft posts strong growth, big losses in first public quarter
NEW YORK — Lyft is reporting strong revenue growth but substantial losses in its first quarterly earnings report since its rocky stock market debut. The ride-hailing company posted revenue of $776 million during the first quarter of 2019, nearly doubling the amount it made the same time last year. Their revenues beat expectations of analysts polled by FactSet, who were... Read More

Eastern Canada’s largest container terminal sold to Singapore-based port operator

Eastern Canada’s largest container terminal sold to Singapore-based port operator
HALIFAX — A Singapore-based port operator has announced a deal to buy the largest container terminal in Eastern Canada. PSA International Pte Ltd. says it has finalized an agreement to acquire the Halterm terminal at the Port of Halifax from Australia’s Macquarie Infrastructure Partners. The company will also acquire Penn Terminals in Philadelphia from the Australian fund, which is managed by Macquarie Infrastructure and Real... Read More

WestJet Airlines reports first-quarter profit up, beats expectations

WestJet Airlines reports first-quarter profit up, beats expectations
CALGARY — WestJet Airlines Ltd. topped expectations as it reported its first-quarter profit climbed more than 30 per cent compared with a year ago. The airline says it earned $45.6 million or 40 cents per diluted share for the quarter ended March 31 compared with a profit of $34.2 million or 30 cents per diluted share a year ago. Revenue... Read More

CP Rail raises quarterly dividend 27.5 per cent after strong first quarter

CP Rail raises quarterly dividend 27.5 per cent after strong first quarter
CALGARY — Canadian Pacific Railway Ltd. has boosted its quarterly dividend by 27.5 per cent. The Calgary-based railway says the payout will increase to 83 cents from 65 cents and will be payable July 29 to shareholders of record June 28. The increase comes nearly two weeks after CP Rail’s profits surged 25 per cent during the winter quarter despite lower volumes caused... Read More

Air Canada reports first-quarter profit, operating revenue climbs higher

Air Canada reports first-quarter profit, operating revenue climbs higher
MONTREAL — Air Canada reported a profit in its latest quarter compared with a loss a year ago as it saw its operating revenue rise nine per cent. The airline says it earned $345 million or $1.26 per diluted share for its first quarter, compared with a loss of $203 million or 74 cents per diluted share in the same... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Air Canada earnings Air Canada CEO Calin Rovinescu speaks to analysts about the airline’s first-quarter results on Monday. Canada’s largest airline has announced that it is removing its grounded Boeing 737 Max jets from service until at least Aug. 1 in order to provide... Read More

As car-sharing picks up in US, so do legislative battles

As car-sharing picks up in US, so do legislative battles
PHOENIX — When Chris Williamson was in the market for a new family car, a timely ad and conversations with a co-worker convinced him to try something out of the ordinary. He bought a BMW 3 Series convertible and covers the payments by renting it to strangers on a peer-to-peer car sharing app called Turo. It allows his family of... Read More

Judge approves Tesla CEO Elon Musk’s agreement with SEC

Judge approves Tesla CEO Elon Musk’s agreement with SEC
NEW YORK — A federal judge has approved an agreement that Tesla’s CEO Elon Musk reached with regulators over his tweets. The deal says Musk must get a securities lawyer’s approval before writing or talking on investor calls about a broad range of Tesla-related topics. U.S. District Judge Alison Nathan said Wednesday that Musk will not be held in contempt... Read More

Crude by rail a ‘temporary’ solution to pipeline shortage: CN Rail CEO

Crude by rail a ‘temporary’ solution to pipeline shortage: CN Rail CEO
MONTREAL — The head of Canada’s largest railway says ferrying crude remains a lucrative, albeit temporary solution to Canada’s pipeline quandary. “The role of the rail industry is a recent role and probably a temporary role. We’re not here to replace pipelines; we’re here to be a compliment for a period of time,” Canadian National Railway Co. chief executive Jean-Jacques Ruest told The... Read More

Travel company Transat AT in talks regarding possible sale of company

Travel company Transat AT in talks regarding possible sale of company
MONTREAL — Transat AT Inc. says it is in preliminary talks regarding the possible sale of the company. The announcement came as the company prepared to hold its annual meeting in Montreal. The travel company says it is in talks with more than one party regarding a potential transaction following expressions of interest it received. Transat says it has formed a... Read More