Oil prices offset by insurance losses on TSX
Brent crude edged higher today exceeding $59 a barrel giving a welcome boost to energy stocks however insurance firms Manulife and Sun Life posted weaker-than-expected quarterly earnings with the losses in that sector.
Bombardier CEO change, debt plans spook the market
Investors sold-off shares in Bombardier after the Montreal-based firm announced that its CEO Pierre Beaudoin will step down from the role tomorrow (Friday) and become executive chairman with Alain Bellemare taking over as chief executive while long-term fixture Laurent Beaudoin will retire.
Cenovus cuts jobs following quarterly loss
Oil producer Cenovus has reported a quarterly loss of $472 million for the last three months of 2014, amounting to 62 cents per share.
Oil capitals face housing correction says TD
Calgary, Edmonton and St. John’s, Newfoundland are set to be hit by a housing correction over the next 12-18 months as the oil industry’s decline filters down to consumers.
Husky Energy cuts capital spending plans
Husky Energy announced today that it is planning to cut its capital spending by up to $400 million in response to the downturn in oil prices.
Toronto attracts more visitors
Tourists flocked to Toronto in record numbers last year according to data from Toronto Tourism.
Daily Market Update
World markets higher despite lack of Greece deal... US foreclosures increase... Brent holds steady despite higher US stocks...
TSX steady on oil prices, Greek talks
The Toronto Stock Exchange has had a largely unremarkable day of trading with the price of Brent crude holding around $55 and investors avoid risks on anticipation of the results of talks between Greece and Eurozone finance ministers.
Walmart Canada invests $340 million in expansion plan
Walmart has today given a boost to the retail sector by announcing an expansion plan with 29 new Canadian stores over the next 12 months.
Air Canada profits hit record high
The falling value of the Canadian dollar has cost Air Canada $100 million in the last quarter of its financial year but the airline has still posted record annual profits of $531 million, a rise from $340 million in the previous year.