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Russian President Putin meets with Chinese leaders + MORE Jun 25th
BEIJING, China – Russian President Vladimir Putin on Saturday emphasized economic ties with China and praised what he called Russia’s “all-embracing and strategic partnership” with its neighbour, during a visit to Beijing that takes place against the background of a drop in t.... More »
Making sense of the markets this week: August 4, 2024 Aug 2nd
Michael McCullough is a contributing editor to MoneySense and a financial writer and editor in Duncan, B.C.
Mixed results for Magnificent 7
The narrative around the Magnificent 7 mega-cap technology stocks has become mixed, even in the face of mostly positive earnings news.
Microsoft .... More »
Facebook and Cambridge Analytica have just confirmed it: online privacy is dead + MORE Mar 20th
Mitch Joel is President of Mirum, a global digital marketing agency with offices in Toronto and Montreal and author of Six Pixels of Separation and CTRL ALT Delete.
Did Facebook hack the 2016 U.S. election? No. Did it swing the result? Probably. Did it do it on purpose? No, not likely. But this w.... More »
Are you receiving the child benefits you’re entitled to? + MORE Jun 13th
No surprise, but raising kids is expensive. Statistics Canada calculates that each child costs a two-parent household an average of $17,235 a year.
To help parents make ends meet, the federal government offers the Canada Child Benefit (CCB). If you have children under 18 and file a tax return, yo.... More »
Delta Air Lines places firm order for 75 CSeries aircraft + MORE Apr 28th
MONTREAL — Bombardier says Delta Air Lines Inc. has placed a firm order for 75 CS100 aircraft with options for an additional 50 CS100 aircraft in what would be the largest order for the CSeries jets.
The company says, based on the list price, the firm order is valued at approximately US$5.6 billi.... More »
Colin Perkel/CPThe Ontario real estate investor who owned Elliot Lake’s doomed shopping mall remains the target of a criminal investigation as authorities continue to negotiate access to hundreds of pages of potential evidence—first seized in the days after the deadly collapse, but under seal ever since.
As Maclean’s revealed last week, three search warrants executed by the Ontario Provincial Police (OPP) identify Asadoor “Bob” Nazarian as a prime suspect in the ongoing criminal probe of the Algo Centre cave-in, which killed two women and injured numerous others in June 2012. According to the warrants, Nazarian is being investigated for potential criminal negligence causing death for failing “to maintain the structural integrity” of the mall and failing to “take sufficient steps to remedy known deficiencies” in the building’s notoriously leaky rooftop parking lot. (The 69-year-old has not been charged, and may never be. Contacted by Maclean’s, he declined to comment…
Seven Generations Energy prices IPO, but oil’s slump takes its toll
– theglobeandmail.com
Sells shares at $18 apiece in a vote of confidence in the company’s prospects
Suncor profits fall during the third quarter on lower prices, currency swings
– canadianbusiness.com
CALGARY – Oilsands giant Suncor Energy Inc. posted lower profits for the third quarter, but the bottom line beat the expectations of analysts.
The Calgary-based company said its net earnings were $919 million, or 63 cents per share, down from nearly $1.7 billion, or $1.13 per share, a year earlier.
Operating earnings, which strip out the effects of unusual items, were $1.3 billion, or 89 cents per share, beating the average analyst estimate of 77 cents per share, according to Thomson Reuters.
During the same 2013 quarter operating earnings were $1.4 billion, or 95 cents per share.
Revenue during the third quarter was $10.3 billion, compared to $10.4 billion a year earlier.
“Suncor delivered a solid financial quarter despite lower crude oil pricing,” said Steve Williams, president and chief executive officer.
“Our focused strategy, integrated model and strong balance sheet are competitive strengths that will continue to serve us well through the current lower crude price environment…
The Calgary-based company said its net earnings were $919 million, or 63 cents per share, down from nearly $1.7 billion, or $1.13 per share, a year earlier.
Operating earnings, which strip out the effects of unusual items, were $1.3 billion, or 89 cents per share, beating the average analyst estimate of 77 cents per share, according to Thomson Reuters.
During the same 2013 quarter operating earnings were $1.4 billion, or 95 cents per share.
Revenue during the third quarter was $10.3 billion, compared to $10.4 billion a year earlier.
“Suncor delivered a solid financial quarter despite lower crude oil pricing,” said Steve Williams, president and chief executive officer.
“Our focused strategy, integrated model and strong balance sheet are competitive strengths that will continue to serve us well through the current lower crude price environment…
New set of rail safety rules announced in wake of Lac-Megantic report – Hamilton Spectator
– news.google.ca
Montreal GazetteNew set of rail safety rules announced in wake of Lac-Megantic reportHamilton SpectatorOTTAWA The latest set of rail safety measures announced in the wake of the deadly Lac Mégantic derailment of 2013 do not come with any additional financial resources for the federal regulator, Transport Canada. Transport Minister Lisa Raitt says her …Residents of Emerson forced out by August train derailment weigh in on new rail …CTV NewsReaction to new railway safety rules mixedMontreal GazetteGetting the trains back on trackThe Globe and MailCBC.ca -680 News -CANOEall 82 news articles »
Barrick Gold Q3 net earnings slip to US$125M; revenue contracts to $2.6B
– canadianbusiness.com
TORONTO – Barrick Gold Corp. (TSX:ABX) says reduced revenue from lower sales and margins as well as unrealized losses on foreign currency and derivative instruments contributed to lowering its net profits in the third quarter.
Toronto-based Barrick, which reports in U.S. dollars, says net earnings attributable to equity holders in the three months ended Sept. 30 were US$125 million or 11 cents per share. That was down from US$172 million or 17 cents in the comparable prior-year period.
Revenue slipped to US$2.6 billion from just under $3 billion, while operating cash flow fell to $852 million from $1.2 billion, primarily reflecting lower sales volumes and lower gross margins, partially offset by a decrease in income tax payments, the company said in its earnings release issued after markets closed.
Third-quarter adjusted net earnings were US$222 million or 19 cents per share, compared with $577 million or 58 cents in the prior year period.
The decrease was primarily due to lower gold and copper sales volumes and lower realized gold and copper prices, partially offset by lower cost of sales, Barrick said…
Toronto-based Barrick, which reports in U.S. dollars, says net earnings attributable to equity holders in the three months ended Sept. 30 were US$125 million or 11 cents per share. That was down from US$172 million or 17 cents in the comparable prior-year period.
Revenue slipped to US$2.6 billion from just under $3 billion, while operating cash flow fell to $852 million from $1.2 billion, primarily reflecting lower sales volumes and lower gross margins, partially offset by a decrease in income tax payments, the company said in its earnings release issued after markets closed.
Third-quarter adjusted net earnings were US$222 million or 19 cents per share, compared with $577 million or 58 cents in the prior year period.
The decrease was primarily due to lower gold and copper sales volumes and lower realized gold and copper prices, partially offset by lower cost of sales, Barrick said…
