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34900.0 | 2022-03-02 00:00:00 UTC | Canada's low-cost carrier WestJet to buy rival Sunwing Airlines | AC | https://www.nasdaq.com/articles/canadas-low-cost-carrier-westjet-to-buy-rival-sunwing-airlines-0 | nan | nan | Adds context, analyst comment, flight attendant union
March 2 (Reuters) - Canadian airline WestJet Group, owned by private equity firm Onex Corp ONEX.TO, said on Wednesday it would buy leisure rival Sunwing Airlines for an undisclosed amount as it looks to tap into a rebound in air travel.
WestJet said it would also buy travel booking website Sunwing Vacations, as part of the deal, which is expected to close in late 2022, pending regulatory approval. | WestJet said it would also buy travel booking website Sunwing Vacations, as part of the deal, which is expected to close in late 2022, pending regulatory approval. Adds context, analyst comment, flight attendant union March 2 (Reuters) - Canadian airline WestJet Group, owned by private equity firm Onex Corp ONEX.TO, said on Wednesday it would buy leisure rival Sunwing Airlines for an undisclosed amount as it looks to tap into a rebound in air travel. | WestJet said it would also buy travel booking website Sunwing Vacations, as part of the deal, which is expected to close in late 2022, pending regulatory approval. Adds context, analyst comment, flight attendant union March 2 (Reuters) - Canadian airline WestJet Group, owned by private equity firm Onex Corp ONEX.TO, said on Wednesday it would buy leisure rival Sunwing Airlines for an undisclosed amount as it looks to tap into a rebound in air travel. | WestJet said it would also buy travel booking website Sunwing Vacations, as part of the deal, which is expected to close in late 2022, pending regulatory approval. Adds context, analyst comment, flight attendant union March 2 (Reuters) - Canadian airline WestJet Group, owned by private equity firm Onex Corp ONEX.TO, said on Wednesday it would buy leisure rival Sunwing Airlines for an undisclosed amount as it looks to tap into a rebound in air travel. | WestJet said it would also buy travel booking website Sunwing Vacations, as part of the deal, which is expected to close in late 2022, pending regulatory approval. Adds context, analyst comment, flight attendant union March 2 (Reuters) - Canadian airline WestJet Group, owned by private equity firm Onex Corp ONEX.TO, said on Wednesday it would buy leisure rival Sunwing Airlines for an undisclosed amount as it looks to tap into a rebound in air travel. |
34901.0 | 2022-02-22 00:00:00 UTC | CANADA STOCKS-TSX futures down as Russia-Ukraine tensions escalate | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-down-as-russia-ukraine-tensions-escalate | nan | nan | Feb 22 (Reuters) - Futures for Canada's main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses.
March futures on the S&P/TSX index SXFc1 were down 0.2% at 6:48 a.m. ET.
Global stocks slumped, while oil prices surged to their highest in seven years as Europe's eastern flank stood on the cusp of war after Russian President Vladimir Putin ordered troops into two breakaway regions of eastern Ukraine. MKTS/GLOBO/R
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.8% lower at 21,008.20 on Friday. .TO
Dow e-minis 1YMcv1 were down 126 points, or 0.37%, as of 0648 a.m. ET, while S&P 500 e-minis EScv1 were down 15.5 points, or 0.36%, and Nasdaq 100 e-minis NQcv1 were down 113 points, or 0.81%. .N
TOP STORIES TOP/CAN
Canada's parliament backed Prime Minister Justin Trudeau's decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: CIBC raises target price to C$35 from C$33
Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$65 from C$75
Uni-Select Inc UNS.TO: National Bank of Canada raises PT to C$31 from C$27.50
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1896.9; -0.1% GOL/
US crude CLc1: $94.43; +3.64% O/R
Brent crude LCOc1: $97.79; +2.5% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0900 Monthly home price mm for Dec: Prior 1.1%
0900 Monthly home price yy for Dec: Prior 17.5%
0900 Monthly Home Price Index for Dec: Prior 362.4
0900 Caseshiller 20 mm SA for Dec: Expected 1.1%; Prior 1.2%
0900 Caseshiller 20 mm NSA for Dec: Prior 1.0%
0900 Caseshiller 20 yy for Dec: Expected 18.0%; Prior 18.3%
0945 Markit Manufacturing PMI Flash for Feb: Expected 56.0; Prior 55.5
0945 Markit Services PMI Flash for Feb: Expected 53.0; Prior 51.2
0945 Markit Composite Flash PMI for Feb: Prior 51.1
1000 Consumer Confidence for Feb: Expected 110.0; Prior 113.8
1000 Rich Fed Composite Index for Feb: Prior 8
1000 Rich Fed, Services Index for Feb: Prior 4
1000 Rich Fed Manufacturing Shipments for Feb: Prior 14
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.27)
(Reporting by Amal S in Bengaluru; Editing by Sherry Jacob-Phillips)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 22 (Reuters) - Futures for Canada's main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses. Canada's parliament backed Prime Minister Justin Trudeau's decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks. Air Canada AC.TO: CIBC raises target price to C$35 from C$33 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$65 from C$75 Uni-Select Inc UNS.TO: National Bank of Canada raises PT to C$31 from C$27.50 COMMODITIES AT 7:00 a.m. | Feb 22 (Reuters) - Futures for Canada's main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses. 0900 Monthly home price mm for Dec: Prior 1.1% 0900 Monthly home price yy for Dec: Prior 17.5% 0900 Monthly Home Price Index for Dec: Prior 362.4 0900 Caseshiller 20 mm SA for Dec: Expected 1.1%; Prior 1.2% 0900 Caseshiller 20 mm NSA for Dec: Prior 1.0% 0900 Caseshiller 20 yy for Dec: Expected 18.0%; Prior 18.3% 0945 Markit Manufacturing PMI Flash for Feb: Expected 56.0; Prior 55.5 0945 Markit Services PMI Flash for Feb: Expected 53.0; Prior 51.2 0945 Markit Composite Flash PMI for Feb: Prior 51.1 1000 Consumer Confidence for Feb: Expected 110.0; Prior 113.8 1000 Rich Fed Composite Index for Feb: Prior 8 1000 Rich Fed, Services Index for Feb: Prior 4 1000 Rich Fed Manufacturing Shipments for Feb: Prior 14 Canada's parliament backed Prime Minister Justin Trudeau's decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks. | Feb 22 (Reuters) - Futures for Canada's main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses. 0900 Monthly home price mm for Dec: Prior 1.1% 0900 Monthly home price yy for Dec: Prior 17.5% 0900 Monthly Home Price Index for Dec: Prior 362.4 0900 Caseshiller 20 mm SA for Dec: Expected 1.1%; Prior 1.2% 0900 Caseshiller 20 mm NSA for Dec: Prior 1.0% 0900 Caseshiller 20 yy for Dec: Expected 18.0%; Prior 18.3% 0945 Markit Manufacturing PMI Flash for Feb: Expected 56.0; Prior 55.5 0945 Markit Services PMI Flash for Feb: Expected 53.0; Prior 51.2 0945 Markit Composite Flash PMI for Feb: Prior 51.1 1000 Consumer Confidence for Feb: Expected 110.0; Prior 113.8 1000 Rich Fed Composite Index for Feb: Prior 8 1000 Rich Fed, Services Index for Feb: Prior 4 1000 Rich Fed Manufacturing Shipments for Feb: Prior 14 Canada's parliament backed Prime Minister Justin Trudeau's decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks. | Feb 22 (Reuters) - Futures for Canada's main stock index fell on Tuesday, with investors joining a global flight from risky assets, as tensions between Russia and Ukraine escalated, although stronger crude prices on the back of supply concerns limited further losses. Canada's parliament backed Prime Minister Justin Trudeau's decision on Monday to invoke rarely-used emergency powers to end pandemic-related protests that have blocked streets in the capital Ottawa for more than three weeks. Air Canada AC.TO: CIBC raises target price to C$35 from C$33 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$65 from C$75 Uni-Select Inc UNS.TO: National Bank of Canada raises PT to C$31 from C$27.50 COMMODITIES AT 7:00 a.m. |
34902.0 | 2022-02-18 00:00:00 UTC | Philippines offers at least $500 mln green bonds to European investors | AC | https://www.nasdaq.com/articles/philippines-offers-at-least-%24500-mln-green-bonds-to-european-investors | nan | nan | By Enrico Dela Cruz
MANILA, Feb 18 (Reuters) - Philippine Finance Secretary Carlos Dominguez has sought European investors' support for an inaugural government green bonds offering worth at least $500 million, to raise funds for clean energy projects, his department said on Friday.
Dominguez in a news release said the sale of these debt securities, known as environmental, social and governance (ESG) sovereign bonds, will be done "in the coming weeks".
The Southeast Asian country aims for a 75% reduction in greenhouse gas emissions by 2030 under its commitment to the Paris Agreement on Climate Change, a more ambitious goal than its a previous target of a 70% cut set a few years ago.
To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy.
Dominguez said the Philippines was determined to move ahead with its emission reduction goal, but pointed out that financial support from wealthier countries was necessary.
On Thursday, he said the government was in talks with various banks on the appropriate structure for the green bond offer, and was "looking at a window of opportunity in different currency markets".
He did not name the banks, but fixed income news provider IFR reported on Wednesday that the government had tapped Bank of China 601988.SS, Citigroup, Credit Suisse CSGN.S, Deutsche Bank DBKGn.DE, Goldman Sachs GS.N, Mizuho Bank, Morgan Stanley MS.N, Standard Chartered STAN.L and UBS UBSG.S for a potential $1 billion to $2 billion bond offering in the ESG format.
With its maiden offer, the government follows the footsteps of Philippine companies that had tapped the green bond markets in recent years, including BDO Unibank Inc BDO.PS and Ayala Corp's AC.PS power unit, AC Energy Corp ACEN.PS.
(Reporting by Enrico Dela Cruz; Editing by Martin Petty)
((enrico.delacruz@tr.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy. He did not name the banks, but fixed income news provider IFR reported on Wednesday that the government had tapped Bank of China 601988.SS, Citigroup, Credit Suisse CSGN.S, Deutsche Bank DBKGn.DE, Goldman Sachs GS.N, Mizuho Bank, Morgan Stanley MS.N, Standard Chartered STAN.L and UBS UBSG.S for a potential $1 billion to $2 billion bond offering in the ESG format. With its maiden offer, the government follows the footsteps of Philippine companies that had tapped the green bond markets in recent years, including BDO Unibank Inc BDO.PS and Ayala Corp's AC.PS power unit, AC Energy Corp ACEN.PS. | He did not name the banks, but fixed income news provider IFR reported on Wednesday that the government had tapped Bank of China 601988.SS, Citigroup, Credit Suisse CSGN.S, Deutsche Bank DBKGn.DE, Goldman Sachs GS.N, Mizuho Bank, Morgan Stanley MS.N, Standard Chartered STAN.L and UBS UBSG.S for a potential $1 billion to $2 billion bond offering in the ESG format. (Reporting by Enrico Dela Cruz; Editing by Martin Petty) ((enrico.delacruz@tr.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy. | He did not name the banks, but fixed income news provider IFR reported on Wednesday that the government had tapped Bank of China 601988.SS, Citigroup, Credit Suisse CSGN.S, Deutsche Bank DBKGn.DE, Goldman Sachs GS.N, Mizuho Bank, Morgan Stanley MS.N, Standard Chartered STAN.L and UBS UBSG.S for a potential $1 billion to $2 billion bond offering in the ESG format. With its maiden offer, the government follows the footsteps of Philippine companies that had tapped the green bond markets in recent years, including BDO Unibank Inc BDO.PS and Ayala Corp's AC.PS power unit, AC Energy Corp ACEN.PS. To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy. | To help achieve the target, it plans to retire its coal-fired power plants and seek more investments in renewable energy. He did not name the banks, but fixed income news provider IFR reported on Wednesday that the government had tapped Bank of China 601988.SS, Citigroup, Credit Suisse CSGN.S, Deutsche Bank DBKGn.DE, Goldman Sachs GS.N, Mizuho Bank, Morgan Stanley MS.N, Standard Chartered STAN.L and UBS UBSG.S for a potential $1 billion to $2 billion bond offering in the ESG format. With its maiden offer, the government follows the footsteps of Philippine companies that had tapped the green bond markets in recent years, including BDO Unibank Inc BDO.PS and Ayala Corp's AC.PS power unit, AC Energy Corp ACEN.PS. |
34903.0 | 2022-02-18 00:00:00 UTC | CANADA STOCKS-TSX snaps weekly winning streak as Ukraine tensions weigh | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-snaps-weekly-winning-streak-as-ukraine-tensions-weigh | nan | nan | By Fergal Smith
TORONTO, Feb 18 (Reuters) - Canada's main stock index fell on Friday to a three-week low as geopolitical uncertainty weighed on investor sentiment ahead of a long weekend, with energy and healthcare shares leading broadbased declines.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 168.13 points, or 0.8%, at 21,008.20, its lowest closing level since Jan. 28. For the week, the index was down 2.5%. It follows three straight weeks of gains.
Wall Street's main stock indexes also fell as escalating tensions in Ukraine and U.S. statements of an imminent Russian invasion prompted investors to dump risky assets.
Monday is a market holiday for U.S. and Canadian financial markets.
"The political situation in Ukraine remains fluid," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "There remain all kinds of threats, accusations, speculations, rumors and denials over whether an invasion of Ukraine by Russia may be imminent or not."
The energy sector fell 2.4% as the price of U.S. oil CLc1 settled 0.8% lower at $91.07 a barrel, pressured by the prospect of increased Iranian oil exports.
Healthcare was down 3.5% and the materials group, which includes which includes precious and base metals miners and fertilizer companies, lost 1.1%.
On the economic front, Canadian retail sales rose 2.4% in January from December, preliminary data from Statistics Canada showed, following on a 1.8% decline in December as consumers stayed home amid concerns over the Omicron coronavirus variant.
Among individual names, Air Canada AC.TO gained 3.1% after the carrier reported a smaller fourth-quarter loss, powered by strong holiday demand.
(Reporting by Fergal Smith; Additional reporting by Aishwarya Nair in Bengaluru; Editing by Will Dunham)
((fergal.smith@thomsonreuters.com; +1 647 480 7446;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among individual names, Air Canada AC.TO gained 3.1% after the carrier reported a smaller fourth-quarter loss, powered by strong holiday demand. "There remain all kinds of threats, accusations, speculations, rumors and denials over whether an invasion of Ukraine by Russia may be imminent or not." By Fergal Smith TORONTO, Feb 18 (Reuters) - Canada's main stock index fell on Friday to a three-week low as geopolitical uncertainty weighed on investor sentiment ahead of a long weekend, with energy and healthcare shares leading broadbased declines. | "There remain all kinds of threats, accusations, speculations, rumors and denials over whether an invasion of Ukraine by Russia may be imminent or not." Among individual names, Air Canada AC.TO gained 3.1% after the carrier reported a smaller fourth-quarter loss, powered by strong holiday demand. By Fergal Smith TORONTO, Feb 18 (Reuters) - Canada's main stock index fell on Friday to a three-week low as geopolitical uncertainty weighed on investor sentiment ahead of a long weekend, with energy and healthcare shares leading broadbased declines. | "There remain all kinds of threats, accusations, speculations, rumors and denials over whether an invasion of Ukraine by Russia may be imminent or not." Among individual names, Air Canada AC.TO gained 3.1% after the carrier reported a smaller fourth-quarter loss, powered by strong holiday demand. By Fergal Smith TORONTO, Feb 18 (Reuters) - Canada's main stock index fell on Friday to a three-week low as geopolitical uncertainty weighed on investor sentiment ahead of a long weekend, with energy and healthcare shares leading broadbased declines. | "There remain all kinds of threats, accusations, speculations, rumors and denials over whether an invasion of Ukraine by Russia may be imminent or not." Among individual names, Air Canada AC.TO gained 3.1% after the carrier reported a smaller fourth-quarter loss, powered by strong holiday demand. The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 168.13 points, or 0.8%, at 21,008.20, its lowest closing level since Jan. 28. |
34904.0 | 2022-02-18 00:00:00 UTC | Air Canada posts smaller quarterly loss on strong holiday demand | AC | https://www.nasdaq.com/articles/air-canada-posts-smaller-quarterly-loss-on-strong-holiday-demand | nan | nan | Adds background
Feb 18 (Reuters) - Air Canada AC.TO reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December.
Canadian carriers are banking on a recent relaxation in the country's testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus.
The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban.
The airline's net loss was C$493 million ($388.10 million), or C$1.38 per share, for the quarter ended Dec. 31, compared with a loss of C$1.16 billion, or C$3.91 per share, a year earlier.
($1 = 1.2703 Canadian dollars)
(Reporting by Aishwarya Nair in Bengaluru; Editing by Vinay Dwivedi)
((Aishwarya.Nair@thomsonreuters.com; +91-8067494421;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background Feb 18 (Reuters) - Air Canada AC.TO reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December. The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban. Canadian carriers are banking on a recent relaxation in the country's testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus. | Adds background Feb 18 (Reuters) - Air Canada AC.TO reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December. The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban. Canadian carriers are banking on a recent relaxation in the country's testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus. | Adds background Feb 18 (Reuters) - Air Canada AC.TO reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December. The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban. Canadian carriers are banking on a recent relaxation in the country's testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus. | Adds background Feb 18 (Reuters) - Air Canada AC.TO reported a smaller fourth-quarter loss on Friday, powered by strong holiday demand as Canadians continued to travel despite concerns related to the Omicron variant of the coronavirus and increased restrictions in December. The December warning was accompanied by additional testing, in a blow to carriers that were counting on increased flying during the key holiday travel season after the country lifted border restrictions in August following a 16-month ban. Canadian carriers are banking on a recent relaxation in the country's testing requirements for travel to help drive demand this year, after the government urged residents in December to avoid non-essential trips due to the virus. |
34905.0 | 2022-02-15 00:00:00 UTC | Mexican bottler Arca's quarterly net profit up 26.5% on high demand | AC | https://www.nasdaq.com/articles/mexican-bottler-arcas-quarterly-net-profit-up-26.5-on-high-demand | nan | nan | Adds quote from executive director
MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the year rose to 35.4 billion pesos ($1.72 billion), just above the Refinitiv estimate of 35.1 billion pesos ($1.71 billion).
The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year.
"Our great team's ability to face challenging environments allowed us to generate volumes above pre-pandemic levels in 2021, and to increase annual sales by 8.3%," Executive Director Arturo Gutierrez said in the report.
Arca Continental's sales rose to 49.1 billion pesos for the quarter from 44.9 billion pesos in the same period in the previous year.
Gutierrez predicted in October that the company, one of the largest Coca-Cola bottlers in Latin America, would continue to see growth through 2022.
Mexico was named the world's leading soda consumer in a 2019 study, though the government has tried in recent years to reduce consumption of sugary drinks.
($1 = 20.5075 pesos at end-December)
(Reporting by Kylie Madry and Noe Torres; editing by Cassandra Garrison and Kevin Liffey)
((Kylie.Madry@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "Our great team's ability to face challenging environments allowed us to generate volumes above pre-pandemic levels in 2021, and to increase annual sales by 8.3%," Executive Director Arturo Gutierrez said in the report. Adds quote from executive director MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. Gutierrez predicted in October that the company, one of the largest Coca-Cola bottlers in Latin America, would continue to see growth through 2022. | Adds quote from executive director MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. "Our great team's ability to face challenging environments allowed us to generate volumes above pre-pandemic levels in 2021, and to increase annual sales by 8.3%," Executive Director Arturo Gutierrez said in the report. The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year. | Adds quote from executive director MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. "Our great team's ability to face challenging environments allowed us to generate volumes above pre-pandemic levels in 2021, and to increase annual sales by 8.3%," Executive Director Arturo Gutierrez said in the report. Earnings before interest, tax, depreciation and amortization (EBITDA) for the year rose to 35.4 billion pesos ($1.72 billion), just above the Refinitiv estimate of 35.1 billion pesos ($1.71 billion). | "Our great team's ability to face challenging environments allowed us to generate volumes above pre-pandemic levels in 2021, and to increase annual sales by 8.3%," Executive Director Arturo Gutierrez said in the report. Adds quote from executive director MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year. |
34906.0 | 2022-02-15 00:00:00 UTC | Mexican bottler Arca's annual net profit up 26.5% on high demand | AC | https://www.nasdaq.com/articles/mexican-bottler-arcas-annual-net-profit-up-26.5-on-high-demand | nan | nan | Updated with details, background
MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America.
Earnings before interest, tax, depreciation and amortization (EBITDA) for the year rose to 35.4 billion pesos ($1.72 billion), just above the Refinitiv estimate of 35.1 billion pesos ($1.71 billion).
The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year.
Arca Continental's sales increased to 49.1 billion pesos for the quarter, up from 44.9 billion pesos in the same period in the previous year.
Executive Director Arturo Gutierrez predicted in October that the company, one of the largest Coca-Cola bottlers in Latin America, would continue to see growth through 2022.
Mexico was named the world's leading soda consumer in a 2019 study, though the government has tried in recent years to reduce consumption of sugary drinks.
($1 = 20.5075 pesos at end-December)
(Reporting by Kylie Madry and Noe Torres; editing by Cassandra Garrison and Kevin Liffey)
((Kylie.Madry@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updated with details, background MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. Executive Director Arturo Gutierrez predicted in October that the company, one of the largest Coca-Cola bottlers in Latin America, would continue to see growth through 2022. Mexico was named the world's leading soda consumer in a 2019 study, though the government has tried in recent years to reduce consumption of sugary drinks. | Updated with details, background MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year. Executive Director Arturo Gutierrez predicted in October that the company, one of the largest Coca-Cola bottlers in Latin America, would continue to see growth through 2022. | Updated with details, background MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. Earnings before interest, tax, depreciation and amortization (EBITDA) for the year rose to 35.4 billion pesos ($1.72 billion), just above the Refinitiv estimate of 35.1 billion pesos ($1.71 billion). The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year. | Updated with details, background MEXICO CITY, Feb 15 (Reuters) - Mexican bottler Arca Continental AC.MX reported a 26.5% rise in quarterly net profit Tuesday, saying it had been helped by high demand in Mexico, the United States and South America. The company, one of the largest bottlers of Coca-Cola beverages in Latin America, reported revenues of 183.4 billion pesos ($8.9 billion) and a net profit of 12.3 billion pesos ($735 million) for the whole year. Arca Continental's sales increased to 49.1 billion pesos for the quarter, up from 44.9 billion pesos in the same period in the previous year. |
34907.0 | 2022-02-04 00:00:00 UTC | Financial Sector Update for 02/04/2022: PFSI, AC, RGA, XLF, FAS, FAZ | AC | https://www.nasdaq.com/articles/financial-sector-update-for-02-04-2022%3A-pfsi-ac-rga-xlf-fas-faz | nan | nan | Financial stocks were gaining pre-bell Friday with the Select Financial Sector SPDR (XLF) recently advancing by 0.66%. The Direxion Daily Financial Bull 3X shares (FAS) were more than 2% higher and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) were down by 0.65%.
PennyMac Financial Services (PFSI) reported late Thursday Q4 GAAP earnings of $2.79 per diluted share, down from $5.97 a year earlier. Analysts polled by Capital IQ expected $3.58. PennyMac Financial was advancing by more than 2% recently.
Associated Capital Group (AC) was slipping past 2% as it reported late Thursday Q4 earnings of $0.43 per diluted share, down from $2.29 a year earlier.
Reinsurance Group of America (RGA) was more than 1% lower after it reported late Thursday a Q4 adjusted operating loss of $0.56 per diluted share, compared with a profit of $1.19 per share a year earlier. Analysts polled by Capital IQ expected normalized EPS of $0.79.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | PennyMac Financial Services (PFSI) reported late Thursday Q4 GAAP earnings of $2.79 per diluted share, down from $5.97 a year earlier. Associated Capital Group (AC) was slipping past 2% as it reported late Thursday Q4 earnings of $0.43 per diluted share, down from $2.29 a year earlier. PennyMac Financial was advancing by more than 2% recently. | PennyMac Financial Services (PFSI) reported late Thursday Q4 GAAP earnings of $2.79 per diluted share, down from $5.97 a year earlier. Associated Capital Group (AC) was slipping past 2% as it reported late Thursday Q4 earnings of $0.43 per diluted share, down from $2.29 a year earlier. PennyMac Financial was advancing by more than 2% recently. | PennyMac Financial Services (PFSI) reported late Thursday Q4 GAAP earnings of $2.79 per diluted share, down from $5.97 a year earlier. PennyMac Financial was advancing by more than 2% recently. Associated Capital Group (AC) was slipping past 2% as it reported late Thursday Q4 earnings of $0.43 per diluted share, down from $2.29 a year earlier. | PennyMac Financial Services (PFSI) reported late Thursday Q4 GAAP earnings of $2.79 per diluted share, down from $5.97 a year earlier. PennyMac Financial was advancing by more than 2% recently. Associated Capital Group (AC) was slipping past 2% as it reported late Thursday Q4 earnings of $0.43 per diluted share, down from $2.29 a year earlier. |
34908.0 | 2022-01-19 00:00:00 UTC | Mexico's Cuervo, Femsa among companies well-positioned for '22 -Barclays | AC | https://www.nasdaq.com/articles/mexicos-cuervo-femsa-among-companies-well-positioned-for-22-barclays | nan | nan | MEXICO CITY, Jan 19 (Reuters) - Tequila maker Cuervo, restaurant operator Alsea, bottler and retailer Femsa and supermarket retailer La Comer are among the listed Mexican companies positioned well in 2022, Barclays analysts said in a report, adding consumer companies in general will surpass pre-pandemic sales levels.
Analysts Benjamin Theurer and Antonio Hernandez raised their target price on Cuervo's CUERVO.MX to 58 pesos from 55 and forecasted strong sales due to tequila "further gaining importance in the U.S." and the easing of supply chain constraints.
La Comer's LCMRUBC.MX target price was maintained at 41 pesos, but the analysts pointed to the company as a market leader in sales as it keeps gaining scale. They forecast that La Comer, bread maker Bimbo and bottler Arca Continental AC.MX would finish 2022 with the consumer segment's highest margin expansions.
The analysts kept their target price for Alsea ALSEA.MX at 50 pesos and highlighted that the Mexican restaurant operator could gain market share due to the struggles its smaller competitors face after two years of the pandemic.
They maintained their target price for Femsa FMSAUBD.MX at 90 pesos, expressing caution about openings in its OXXO convenience store chain given the recent uptick in COVID-19 cases. Nonetheless, the analysts expect most of its business segment's revenues to reach pre-pandemic levels in 2022.
Mexico started the year as the only major economy in Latin America still lagging pre-pandemic GDP levels, but the Barclays analysts estimated its year-on-year growth at 3.6%, above the market consensus of 2.8% due to a gradual economic normalization and a boost from U.S. fiscal stimulus programs.
(Reporting by Valentine Hilaire; Editing by David Gregorio)
((Valentine.Hilaire@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The analysts kept their target price for Alsea ALSEA.MX at 50 pesos and highlighted that the Mexican restaurant operator could gain market share due to the struggles its smaller competitors face after two years of the pandemic. They forecast that La Comer, bread maker Bimbo and bottler Arca Continental AC.MX would finish 2022 with the consumer segment's highest margin expansions. Nonetheless, the analysts expect most of its business segment's revenues to reach pre-pandemic levels in 2022. | They forecast that La Comer, bread maker Bimbo and bottler Arca Continental AC.MX would finish 2022 with the consumer segment's highest margin expansions. The analysts kept their target price for Alsea ALSEA.MX at 50 pesos and highlighted that the Mexican restaurant operator could gain market share due to the struggles its smaller competitors face after two years of the pandemic. Nonetheless, the analysts expect most of its business segment's revenues to reach pre-pandemic levels in 2022. | They forecast that La Comer, bread maker Bimbo and bottler Arca Continental AC.MX would finish 2022 with the consumer segment's highest margin expansions. The analysts kept their target price for Alsea ALSEA.MX at 50 pesos and highlighted that the Mexican restaurant operator could gain market share due to the struggles its smaller competitors face after two years of the pandemic. Nonetheless, the analysts expect most of its business segment's revenues to reach pre-pandemic levels in 2022. | Nonetheless, the analysts expect most of its business segment's revenues to reach pre-pandemic levels in 2022. They forecast that La Comer, bread maker Bimbo and bottler Arca Continental AC.MX would finish 2022 with the consumer segment's highest margin expansions. The analysts kept their target price for Alsea ALSEA.MX at 50 pesos and highlighted that the Mexican restaurant operator could gain market share due to the struggles its smaller competitors face after two years of the pandemic. |
34909.0 | 2022-01-11 00:00:00 UTC | Associated Capital Group Inc - Class A Shares Near 52-Week High - Market Mover | AC | https://www.nasdaq.com/articles/associated-capital-group-inc-class-a-shares-near-52-week-high-market-mover-0 | nan | nan | Associated Capital Group Inc - Class A (AC) shares closed today at 1.2% below its 52 week high of $46.09, giving the company a market cap of $134M. The stock is currently up 1.2% year-to-date, up 19.8% over the past 12 months, and up 29.9% over the past five years. This week, the Dow Jones Industrial Average fell 1.3%, and the S&P 500 fell 2.6%.
Trading Activity
Trading volume this week was 20.9% higher than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was between 30 and 70.
MACD, a trend-following momentum indicator, indicates a downward trend.
The stock closed above its Bollinger band, indicating it may be overbought.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -142.3%
The company's stock price performance over the past 12 months beats the peer average by -259.7%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Associated Capital Group Inc - Class A (AC) shares closed today at 1.2% below its 52 week high of $46.09, giving the company a market cap of $134M. Trading Activity Trading volume this week was 20.9% higher than the 20-day average. MACD, a trend-following momentum indicator, indicates a downward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 1.2% below its 52 week high of $46.09, giving the company a market cap of $134M. Trading Activity Trading volume this week was 20.9% higher than the 20-day average. MACD, a trend-following momentum indicator, indicates a downward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 1.2% below its 52 week high of $46.09, giving the company a market cap of $134M. Trading Activity Trading volume this week was 20.9% higher than the 20-day average. MACD, a trend-following momentum indicator, indicates a downward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 1.2% below its 52 week high of $46.09, giving the company a market cap of $134M. Trading Activity Trading volume this week was 20.9% higher than the 20-day average. MACD, a trend-following momentum indicator, indicates a downward trend. |
34910.0 | 2021-12-28 00:00:00 UTC | Associated Capital Group Inc - Class A Shares Climb 1.2% Past Previous 52-Week High - Market Mover | AC | https://www.nasdaq.com/articles/associated-capital-group-inc-class-a-shares-climb-1.2-past-previous-52-week-high-market | nan | nan | Associated Capital Group Inc - Class A (AC) shares closed 1.2% higher than its previous 52 week high, giving the company a market cap of $139M. The stock is currently up 28.6% year-to-date, up 25.2% over the past 12 months, and up 40.4% over the past five years. This week, the Dow Jones Industrial Average rose 1.6%, and the S&P 500 rose 2.3%.
Trading Activity
Trading volume this week was 62.9% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -432.2%
The company's stock price performance over the past 12 months beats the peer average by -357.9%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Associated Capital Group Inc - Class A (AC) shares closed 1.2% higher than its previous 52 week high, giving the company a market cap of $139M. Trading Activity Trading volume this week was 62.9% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed 1.2% higher than its previous 52 week high, giving the company a market cap of $139M. Trading Activity Trading volume this week was 62.9% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed 1.2% higher than its previous 52 week high, giving the company a market cap of $139M. Trading Activity Trading volume this week was 62.9% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed 1.2% higher than its previous 52 week high, giving the company a market cap of $139M. Trading Activity Trading volume this week was 62.9% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. |
34911.0 | 2021-12-23 00:00:00 UTC | Associated Capital Group Inc - Class A Shares Near 52-Week High - Market Mover | AC | https://www.nasdaq.com/articles/associated-capital-group-inc-class-a-shares-near-52-week-high-market-mover | nan | nan | Associated Capital Group Inc - Class A (AC) shares closed today at 0.1% below its 52 week high of $44.56, giving the company a market cap of $137M. The stock is currently up 27.4% year-to-date, up 27.7% over the past 12 months, and up 40.5% over the past five years. This week, the Dow Jones Industrial Average fell 0.5%, and the S&P 500 fell 0.3%.
Trading Activity
Trading volume this week was 83.4% lower than the 20-day average.
Beta, a measure of the stock’s volatility relative to the overall market stands at 0.9.
Technical Indicators
The Relative Strength Index (RSI) on the stock was above 70, indicating it may be overbought.
MACD, a trend-following momentum indicator, indicates an upward trend.
The stock closed below its Bollinger band, indicating it may be oversold.
Market Comparative Performance
The company's share price is the same as the S&P 500 Index , lags it on a 1-year basis, and lags it on a 5-year basis
The company's share price is the same as the Dow Jones Industrial Average , beats it on a 1-year basis, and lags it on a 5-year basis
The company share price is the same as the performance of its peers in the Financials industry sector , lags it on a 1-year basis, and lags it on a 5 year basis
Per Group Comparative Performance
The company's stock price performance year-to-date beats the peer average by -398.8%
The company's stock price performance over the past 12 months beats the peer average by -375.3%
This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2020 Kwhen Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Associated Capital Group Inc - Class A (AC) shares closed today at 0.1% below its 52 week high of $44.56, giving the company a market cap of $137M. Trading Activity Trading volume this week was 83.4% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 0.1% below its 52 week high of $44.56, giving the company a market cap of $137M. Trading Activity Trading volume this week was 83.4% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 0.1% below its 52 week high of $44.56, giving the company a market cap of $137M. Trading Activity Trading volume this week was 83.4% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. | Associated Capital Group Inc - Class A (AC) shares closed today at 0.1% below its 52 week high of $44.56, giving the company a market cap of $137M. Trading Activity Trading volume this week was 83.4% lower than the 20-day average. MACD, a trend-following momentum indicator, indicates an upward trend. |
34912.0 | 2021-12-23 00:00:00 UTC | CANADA STOCKS-TSX jumps to over 3-week high as Omicron fears ease | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-jumps-to-over-3-week-high-as-omicron-fears-ease | nan | nan | By Amal S
Dec 23 (Reuters) - Canada's main stock index jumped to an over three-week high on Thursday, as early data suggested the Omicron variant of the coronavirus was less severe than feared, while gains in industrial shares further lifted the sentiment.
At 9:38 a.m. ET (14:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 96.76 points, or 0.46%, at 21,166.81, extending gains for the third consecutive session.
Leading gains was industrial sector .GSPTTIN, up 0.8%, with airlines Bombardier Inc BBDb.TO and Air Canada AC.TO rising over 2% each.
The energy sector .SPTTEN rose 0.4% as U.S. crude CLc1 prices were up 0.2% a barrel, while Brent crude LCOc1 added 0.2%. O/R
The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday.
"People are starting to realize the Omicron variant is not as bad as some of the other waves we've had. So we're starting to see recovery in the commodities and investor sentiment, which really has been hurt earlier in the month," said Gregory Taylor, portfolio manager at Purpose Investments.
Markets have been volatile this month as rising infections due to the Omicron variant of the coronavirus have forced countries to reinstate restrictions and refueled concerns about a slowdown in global economic recovery.
Limiting further advances was the materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, as it lost 0.5%. GOL/
On the economic front, Canada's economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed.
HIGHLIGHTS
The TSX posted eight new 52-week highs and one new low.
Across all Canadian issues there were 35 new 52-week highs and four new lows, with total volume of 25.79 million shares.
(Reporting by Amal S in Bengaluru; Editing by Krishna Chandra Eluri)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | GOL/ On the economic front, Canada's economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed. Leading gains was industrial sector .GSPTTIN, up 0.8%, with airlines Bombardier Inc BBDb.TO and Air Canada AC.TO rising over 2% each. O/R The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday. | Leading gains was industrial sector .GSPTTIN, up 0.8%, with airlines Bombardier Inc BBDb.TO and Air Canada AC.TO rising over 2% each. O/R The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday. GOL/ On the economic front, Canada's economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed. | O/R The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday. Leading gains was industrial sector .GSPTTIN, up 0.8%, with airlines Bombardier Inc BBDb.TO and Air Canada AC.TO rising over 2% each. GOL/ On the economic front, Canada's economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed. | O/R The risk of needing to stay in hospital for patients with the Omicron variant is 40% to 45% lower than for patients with the Delta variant, according to research by London's Imperial College published on Wednesday. Leading gains was industrial sector .GSPTTIN, up 0.8%, with airlines Bombardier Inc BBDb.TO and Air Canada AC.TO rising over 2% each. GOL/ On the economic front, Canada's economy likely expanded for the sixth consecutive month in November, after matching expectations in October on broad-based increases including a manufacturing rebound, official data showed. |
34913.0 | 2021-12-07 00:00:00 UTC | Omicron-related rules cause setbacks for international air travel | AC | https://www.nasdaq.com/articles/omicron-related-rules-cause-setbacks-for-international-air-travel | nan | nan | By Jamie Freed, Allison Lampert and Rajesh Kumar Singh
Dec 7 (Reuters) - New travel restrictions prompted by the Omicron coronavirus variant have dealt a setback to the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials.
The flurry of new testing rules and border closings have raised concerns ahead of the important Christmas travel season, although some airline bosses said they hope any backward moves will be short-lived.
Global airlines have blamed a patchwork of shifting rules for depressed demand for international travel, which is critical for their return to profit following steep COVID-19 pandemic-related losses in 2020.
U.N. agencies specializing in aviation and tourism pleaded on Tuesday for travel restrictions in response to new coronavirus variants to be imposed only as a last resort.
Japan has banned foreigners, the United States is requiring a COVID-19 test 24 hours before flying, and travellers to Singapore now must be tested daily for seven days after arrival.
"We were seeing accelerating openings until Omicron," Campbell Wilson, chief executive of Singapore Airlines SIAL.SI budget offshoot Scoot, said at a event held in Sydney on Tuesday by the CAPA Centre for Aviation, which provides analysis of the aviation and travel industries.
"We have seen basically a pause since then," Wilson added.
"If you put up more obstacles and testing and other things, some people will decide not to travel," said Peter Kern, chief executive of online travel website Expedia EXPE.O.
Sue Carter, head of Asia Pacific at booking technology firm Travelport, said she has seen some searches go down week on week, adding that traveller confidence tends to be closely linked to government announcements.
A spokesperson for trade group Airports Council International (ACI) World said the global patchwork of travel rules is placing challenges on airport operations and called for better coordination between countries.
At Calgary International Airport, the line upon arrival is longer than it had been before the introduction last week of a plan by Canada to eventually test all passengers arriving from countries other than the United States, an airport spokesperson said.
Since Canada's announcement, random testing at Calgary's airport has increased to cover most arriving passengers, with the airport working with partners to make the roll-out "as smooth as possible," airport spokesperson Krista Ouellette said.
The Public Health Agency of Canada did not immediately respond to requests for comment.
A Reuters reporter departing from a U.S. airport to Montreal last week had to repeatedly inform airline agents of an update that exempted Canadian passengers returning to the country after less than 72 hours abroad from needing a COVID-19 test.
Rules brought in after the discovery of Omicron are just the latest in "a constant state of change," said Leslie Dias, director of airlines for the union Unifor representing customer service workers at carriers including Air Canada AC.TO.
In Australia, fully vaccinated travellers to Sydney and Melbourne must now isolate at their home or a hotel for 72 hours after arrival. An earlier policy of no isolation led Hawaiian Airlines HA.O to add five weekly Honolulu-Sydney flights starting this month, rather than an initial plan for three, its chief executive Peter Ingram said.
"I will tell you the airplanes are not going to be full on the very early days," Ingram said of the route. "But we are seeing pretty good bookings over the holiday period into January. So we think it is it is going to recover."
Health experts are gauging whether the new variant causes as severe illness as other variants.
Qantas Airways QAN.AX Chief Executive Alan Joyce said his hope is that once more is known about Omicron, the 72-hour isolation requirement would be removed.
"We still haven't figured out whether this is a spanner in the works or a fly in the ointment," Association of Asia Pacific Airlines Director General Subhas Menon said of Omicron. "From what we see now, it looks more like a fly in the ointment that is still good for using."
EU travel curbs needed till more known about Omicron -Germany's Spahn
Canada to ask air arrivals to take COVID tests except on U.S. flights
Canadian airports warn of 'chaos' amid new COVID-19 testing rules
(Reporting by Jamie Freed in Sydney, Allison Lampert in Montreal and Rajesh Kumar Singh in Chicago; Additional reporting by Anna Mehler Paperny in Toronto and Julie Gordon in Ottawa; Editing by Gerry Doyle and Will Dunham)
((Jamie.Freed@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Jamie Freed, Allison Lampert and Rajesh Kumar Singh Dec 7 (Reuters) - New travel restrictions prompted by the Omicron coronavirus variant have dealt a setback to the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials. Rules brought in after the discovery of Omicron are just the latest in "a constant state of change," said Leslie Dias, director of airlines for the union Unifor representing customer service workers at carriers including Air Canada AC.TO. The flurry of new testing rules and border closings have raised concerns ahead of the important Christmas travel season, although some airline bosses said they hope any backward moves will be short-lived. | By Jamie Freed, Allison Lampert and Rajesh Kumar Singh Dec 7 (Reuters) - New travel restrictions prompted by the Omicron coronavirus variant have dealt a setback to the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials. The flurry of new testing rules and border closings have raised concerns ahead of the important Christmas travel season, although some airline bosses said they hope any backward moves will be short-lived. "We were seeing accelerating openings until Omicron," Campbell Wilson, chief executive of Singapore Airlines SIAL.SI budget offshoot Scoot, said at a event held in Sydney on Tuesday by the CAPA Centre for Aviation, which provides analysis of the aviation and travel industries. | By Jamie Freed, Allison Lampert and Rajesh Kumar Singh Dec 7 (Reuters) - New travel restrictions prompted by the Omicron coronavirus variant have dealt a setback to the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials. The flurry of new testing rules and border closings have raised concerns ahead of the important Christmas travel season, although some airline bosses said they hope any backward moves will be short-lived. "We were seeing accelerating openings until Omicron," Campbell Wilson, chief executive of Singapore Airlines SIAL.SI budget offshoot Scoot, said at a event held in Sydney on Tuesday by the CAPA Centre for Aviation, which provides analysis of the aviation and travel industries. | By Jamie Freed, Allison Lampert and Rajesh Kumar Singh Dec 7 (Reuters) - New travel restrictions prompted by the Omicron coronavirus variant have dealt a setback to the nascent recovery in international flights, creating delays and headaches in some regions, according to airline and airport officials. The flurry of new testing rules and border closings have raised concerns ahead of the important Christmas travel season, although some airline bosses said they hope any backward moves will be short-lived. "We were seeing accelerating openings until Omicron," Campbell Wilson, chief executive of Singapore Airlines SIAL.SI budget offshoot Scoot, said at a event held in Sydney on Tuesday by the CAPA Centre for Aviation, which provides analysis of the aviation and travel industries. |
34914.0 | 2021-12-06 00:00:00 UTC | Canadian employers, facing labor shortage, accommodate the unvaccinated | AC | https://www.nasdaq.com/articles/canadian-employers-facing-labor-shortage-accommodate-the-unvaccinated-0 | nan | nan | By Julie Gordon and Steve Scherer
OTTAWA, Dec 6 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise.
Canadian Prime Minister Justin Trudeau's government adopted one of the strictest inoculation policies in the world for civil servants and has already put more than 1,000 workers on unpaid leave, with thousands more at risk.
Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. But following through has proven less straightforward, especially as employers grapple with staffing shortages and workers demand exemptions.
Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. That could fuel inflation, already running at a near two-decade high.
"It's already difficult to find staff, let alone putting in a vaccine mandate. You'd cut out potentially another 20%" of potential workers, said Dan Kelly, chief executive of the Canadian Federation of Independent Business.
There are pitfalls to employing the unvaccinated. Companies run a higher risk of COVID-19 outbreaks and many vaccinated employees are uncomfortable working with those who have not had the jab, said industry groups and marketing experts.
At Luda Foods, a Montreal-based soup and sauce maker, president Robert Eiser said he has 14 open jobs, no vaccine mandate and no plans to restrict new hires to the vaccinated.
"I don't know that I want to reduce the (labor) pool, which is already quite low," said Eiser. "We need to attract people to meet the demand. If we don't, our competitors will."
Data released on Friday underpinned Canada's tight labor market, with a hefty 153,700 jobs added in November. It also showed a growing mismatch between available workers and unfilled jobs. And job postings are far above pre-pandemic levels.
WALKING BACK
The province of Quebec backtracked on a vaccine mandates for healthcare workers last month, saying they could not afford to lose thousands of unvaccinated staff. Ontario, which was also eyeing a mandate, said it would not go ahead.
Toronto-Dominion Bank TD.TO and Bank of Montreal BMO.TO have both softened their vaccine policy to allow regular testing for workers who missed their Oct. 31 inoculation deadline.
In Canada, 86% of adults are fully inoculated, though that drops under 80% among 18-40 year olds. At least 15 cases of the new Omicron variant in Canada have been reported in the past week.
John Cappelli, vice president of onsite managed services in Canada for global recruitment firm Adecco, said half of his clients are mandating vaccines with the other half allowing regular testing for the unvaccinated.
But he expects the Omicron variant will prompt more workplaces to get strict on vaccination, even as they grapple with the tightest job market he's seen in his 25-year career.
"We are now starting to see our first workplace (COVID-19) cases in five months," he said.
The number of Canadian job postings on search website Indeed mentioning vaccine requirements has quadrupled since August.
In the hard-hit manufacturing sector, where 77% of firms say their top concern is attracting and retaining workers, vaccine mandates are more rare.
Dennis Darby, CEO of Canadian Manufacturers and Exporters, said most of Canada's factories have operated safely throughout the pandemic. While CME encourages vaccination, "some companies are still using rapid testing if somebody doesn't want to get vaccinated," he added.
But companies risk a hit to their reputation if they are overt in efforts to tap into the unvaccinated as a labor pool, said Wojtek Dabrowski, managing partner at Provident Communications.
"If you go out and say, 'We are intentionally seeking to hire unvaccinated people,' many customers are equating that with you being anti-science and anti-safety," said Dabrowski.
Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz
Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk
(Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell)
((julie.gordon@thomsonreuters.com; 343-961-4020;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Julie Gordon and Steve Scherer OTTAWA, Dec 6 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. But companies risk a hit to their reputation if they are overt in efforts to tap into the unvaccinated as a labor pool, said Wojtek Dabrowski, managing partner at Provident Communications. Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. | By Julie Gordon and Steve Scherer OTTAWA, Dec 6 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk (Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell) ((julie.gordon@thomsonreuters.com; 343-961-4020;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. | By Julie Gordon and Steve Scherer OTTAWA, Dec 6 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk (Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell) ((julie.gordon@thomsonreuters.com; 343-961-4020;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Julie Gordon and Steve Scherer OTTAWA, Dec 6 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. "We need to attract people to meet the demand. |
34915.0 | 2021-12-05 00:00:00 UTC | Canadian employers, facing labor shortage, accommodate the unvaccinated | AC | https://www.nasdaq.com/articles/canadian-employers-facing-labor-shortage-accommodate-the-unvaccinated | nan | nan | By Julie Gordon and Steve Scherer
OTTAWA, Dec 5 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise.
Canadian Prime Minister Justin Trudeau's government adopted one of the strictest inoculation policies in the world for civil servants and has already put more than 1,000 workers on unpaid leave, with thousands more at risk.
Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. But following through has proven less straightforward, especially as employers grapple with staffing shortages and workers demand exemptions.
Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. That could fuel inflation, already running at a near two-decade high.
"It's already difficult to find staff, let alone putting in a vaccine mandate. You'd cut out potentially another 20%" of potential workers, said Dan Kelly, chief executive of the Canadian Federation of Independent Business.
There are pitfalls to employing the unvaccinated. Companies run a higher risk of COVID-19 outbreaks and many vaccinated employees are uncomfortable working with those who have not had the jab, said industry groups and marketing experts.
At Luda Foods, a Montreal-based soup and sauce maker, president Robert Eiser said he has 14 open jobs, no vaccine mandate and no plans to restrict new hires to the vaccinated.
"I don't know that I want to reduce the (labor) pool, which is already quite low," said Eiser. "We need to attract people to meet the demand. If we don't, our competitors will."
Data released on Friday underpinned Canada's tight labor market, with a hefty 153,700 jobs added in November. It also showed a growing mismatch between available workers and unfilled jobs. And job postings are far above pre-pandemic levels.
WALKING BACK
The province of Quebec backtracked on a vaccine mandates for healthcare workers last month, saying they could not afford to lose thousands of unvaccinated staff. Ontario, which was also eyeing a mandate, said it would not go ahead.
Toronto-Dominion Bank TD.TO and Bank of Montreal BMO.TO have both softened their vaccine policy to allow regular testing for workers who missed their Oct. 31 inoculation deadline.
In Canada, 86% of adults are fully inoculated, though that drops under 80% among 18-40 year olds. At least 15 cases of the new Omicron variant in Canada have been reported in the past week.
John Cappelli, vice president of onsite managed services in Canada for global recruitment firm Adecco, said half of his clients are mandating vaccines with the other half allowing regular testing for the unvaccinated.
But he expects the Omicron variant will prompt more workplaces to get strict on vaccination, even as they grapple with the tightest job market he's seen in his 25-year career.
"We are now starting to see our first workplace (COVID-19) cases in five months," he said.
The number of Canadian job postings on search website Indeed mentioning vaccine requirements has quadrupled since August.
In the hard-hit manufacturing sector, where 77% of firms say their top concern is attracting and retaining workers, vaccine mandates are more rare.
Dennis Darby, CEO of Canadian Manufacturers and Exporters, said most of Canada's factories have operated safely throughout the pandemic. While CME encourages vaccination, "some companies are still using rapid testing if somebody doesn't want to get vaccinated," he added.
But companies risk a hit to their reputation if they are overt in efforts to tap into the unvaccinated as a labor pool, said Wojtek Dabrowski, managing partner at Provident Communications.
"If you go out and say, 'We are intentionally seeking to hire unvaccinated people,' many customers are equating that with you being anti-science and anti-safety," said Dabrowski.
Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz
Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk
(Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell)
((julie.gordon@thomsonreuters.com; 343-961-4020;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Julie Gordon and Steve Scherer OTTAWA, Dec 5 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. But companies risk a hit to their reputation if they are overt in efforts to tap into the unvaccinated as a labor pool, said Wojtek Dabrowski, managing partner at Provident Communications. Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. | By Julie Gordon and Steve Scherer OTTAWA, Dec 5 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk (Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell) ((julie.gordon@thomsonreuters.com; 343-961-4020;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Airlines, police forces, school boards and even Canada's Big Five banks have also pledged strict mandatory vaccine policies. | By Julie Gordon and Steve Scherer OTTAWA, Dec 5 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. Canada job postings and vaccine mandateshttps://tmsnrt.rs/3lAsktz Canada job postings surge above pre-pandemic level Canada job postings surge above pre-pandemic levelhttps://tmsnrt.rs/3pigRQk (Reporting by Julie Gordon and Steve Scherer in Ottawa, additional reporting by Rod Nickel in Winnipeg and Nichola Saminather in Toronto Editing by Alistair Bell) ((julie.gordon@thomsonreuters.com; 343-961-4020;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Julie Gordon and Steve Scherer OTTAWA, Dec 5 (Reuters) - Canada's tight labor market is forcing many companies to offer regular COVID-19 testing over vaccine mandates, while others are reversing previously announced inoculation requirements even as Omicron variant cases rise. Job vacancies in Canada have doubled so far this year, official data shows, and vaccine mandates can make filling those jobs harder, potentially putting upward pressure on wages. "We need to attract people to meet the demand. |
34916.0 | 2021-11-29 00:00:00 UTC | Associated Capital Group, Inc. (AC) Ex-Dividend Date Scheduled for November 30, 2021 | AC | https://www.nasdaq.com/articles/associated-capital-group-inc.-ac-ex-dividend-date-scheduled-for-november-30-2021 | nan | nan | Associated Capital Group, Inc. (AC) will begin trading ex-dividend on November 30, 2021. A cash dividend payment of $0.1 per share is scheduled to be paid on December 15, 2021. Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 12th quarter that AC has paid the same dividend.
The previous trading day's last sale of AC was $40.22, representing a -9.96% decrease from the 52 week high of $44.67 and a 33.13% increase over the 52 week low of $30.21.
AC is a part of the Finance sector, which includes companies such as Morgan Stanley (MS) and The Charles Schwab Corporation (SCHW). AC's current earnings per share, an indicator of a company's profitability, is $4.53.
For more information on the declaration, record and payment dates, visit the ac Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AC through an Exchange Traded Fund [ETF]?
The following ETF(s) have AC as a top-10 holding:
iShares MSCI Philippines ETF (EPHE).
The top-performing ETF of this group is EPHE with an increase of 5.19% over the last 100 days. It also has the highest percent weighting of AC at 6.83%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. AC is a part of the Finance sector, which includes companies such as Morgan Stanley (MS) and The Charles Schwab Corporation (SCHW). For more information on the declaration, record and payment dates, visit the ac Dividend History page. | Associated Capital Group, Inc. (AC) will begin trading ex-dividend on November 30, 2021. Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 12th quarter that AC has paid the same dividend. | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the ac Dividend History page. The following ETF(s) have AC as a top-10 holding: iShares MSCI Philippines ETF (EPHE). | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. Associated Capital Group, Inc. (AC) will begin trading ex-dividend on November 30, 2021. This marks the 12th quarter that AC has paid the same dividend. |
34917.0 | 2021-11-23 00:00:00 UTC | CANADA STOCKS-Toronto futures flat as commodity weakness counters strength in financials | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-futures-flat-as-commodity-weakness-counters-strength-in-financials | nan | nan | Nov 23 (Reuters) - Futures for Canada's commodity-heavy main stock index were subdued on Tuesday, as the positive sentiment in financials owed to prospects of higher interest rate next year was countered by a more than 1% slump in crude prices, while bullion hovered near a two-week low.
December futures on the S&P/TSX index SXFc1 were flat at 7:00 a.m. ET.
Financials, which account for about 30% of the Toronto market's value, were poised to open stronger, extending previous session's gains on the prospects of higher interest rates next year after Jerome Powell was renominated as Federal Reserve chair.
Oil prices fell ahead of the expected release of U.S. crude reserves to cool the market, while resurgent COVID-19 cases in Europe also weighed on demand. O/R
Meanwhile, gold prices held close to a more than two-week low as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Powell for a second term. GOL/
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.6% lower at 21,420.77 on Monday, posting its fourth-straight session of losses. .TO
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.04% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.03% and Nasdaq 100 e-mini futures NQc1 were down 0.26%.
TOP STORIES TOP/CAN
Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said.
Canada has halted exports of fresh potatoes from Prince Edward Island (PEI) to the United States, facing a threat from Washington to ban the shipments over concerns about the potato wart fungus, the Canadian Food Inspection Agency said on Monday.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Canadian Western Bank CWB.TO: TD Securities raises target price to C$44 from C$42
Laurentian Bank of Canada LB.TO: TD Securities cuts target price to C$47 from C$48
Imperial Oil Ltd IMO.TO: ATB Capital Markets raises target price to C$48 from C$45
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1795.8; -0.6% GOL/
US crude CLc1: $75.81; -1.22% O/R
Brent crude LCOc1: $79.05; -0.82% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0945 Markit Manufacturing PMI Flash for Nov: Expected 59.0; Prior 58.4
0945 Markit Services PMI Flash for Nov : Expected 59.0; Prior 58.7
0945 Markit Composite Flash PMI for Nov : Prior 57.6
1000 Rich Fed Composite Index for Nov : Prior 12
1000 Rich Fed, Services Index for Nov : Prior 9
1000 Rich Fed Manufacturing Shipments for Nov : Prior 1
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.27)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Financials, which account for about 30% of the Toronto market's value, were poised to open stronger, extending previous session's gains on the prospects of higher interest rates next year after Jerome Powell was renominated as Federal Reserve chair. O/R Meanwhile, gold prices held close to a more than two-week low as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Powell for a second term. Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. | 0945 Markit Manufacturing PMI Flash for Nov: Expected 59.0; Prior 58.4 0945 Markit Services PMI Flash for Nov : Expected 59.0; Prior 58.7 0945 Markit Composite Flash PMI for Nov : Prior 57.6 1000 Rich Fed Composite Index for Nov : Prior 12 1000 Rich Fed, Services Index for Nov : Prior 9 1000 Rich Fed Manufacturing Shipments for Nov : Prior 1 Financials, which account for about 30% of the Toronto market's value, were poised to open stronger, extending previous session's gains on the prospects of higher interest rates next year after Jerome Powell was renominated as Federal Reserve chair. O/R Meanwhile, gold prices held close to a more than two-week low as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Powell for a second term. | 0945 Markit Manufacturing PMI Flash for Nov: Expected 59.0; Prior 58.4 0945 Markit Services PMI Flash for Nov : Expected 59.0; Prior 58.7 0945 Markit Composite Flash PMI for Nov : Prior 57.6 1000 Rich Fed Composite Index for Nov : Prior 12 1000 Rich Fed, Services Index for Nov : Prior 9 1000 Rich Fed Manufacturing Shipments for Nov : Prior 1 Financials, which account for about 30% of the Toronto market's value, were poised to open stronger, extending previous session's gains on the prospects of higher interest rates next year after Jerome Powell was renominated as Federal Reserve chair. O/R Meanwhile, gold prices held close to a more than two-week low as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Powell for a second term. | Financials, which account for about 30% of the Toronto market's value, were poised to open stronger, extending previous session's gains on the prospects of higher interest rates next year after Jerome Powell was renominated as Federal Reserve chair. O/R Meanwhile, gold prices held close to a more than two-week low as the dollar jumped on bets for quicker interest rate increases after U.S. President Joe Biden backed Powell for a second term. Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. |
34918.0 | 2021-11-22 00:00:00 UTC | Air Canada agrees to $4.5 million settlement over delayed U.S. passenger refunds | AC | https://www.nasdaq.com/articles/air-canada-agrees-to-%244.5-million-settlement-over-delayed-u.s.-passenger-refunds-0 | nan | nan | By David Shepardson
WASHINGTON, Nov 22 (Reuters) - Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said.
The proposed settlement, which still must be approved by an administrative law judge, would resolve the U.S. Transportation Department investigation into what it said were "extreme delays in providing refunds to thousands of consumers for flights to or from the United States that the carrier canceled or significantly changed".
Of the $4.5 million settlement, $2.5 million would be credited to Air Canada for refunding passengers and $2 million would be paid to the U.S. Treasury.
In June, the department said it was seeking a $25.5 million fine from Air Canada over the carrier's failure to provide timely refunds.
Air Canada did not immediately comment, but said in a U.S. government filing it agreed to the settlement "to avoid protracted litigation, as it focuses together with all stakeholders on rebuilding itself and doing its part to support the recovery of the airline industry". Air Canada added it did not admit any violation as part of the agreement.
The department alleged in June Air Canada continued its no-refund policy in violation of U.S. law for more than a year.
Air Canada said in June it has been refunding non-refundable tickets as part of the Canadian government's financial package. The Transportation Department in June disclosed it was also "actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it would take "enforcement action" as appropriate. It reiterated those comments Monday.
In May, a trade group told U.S. lawmakers that 11 U.S. airlines issued $12.84 billion in cash refunds to customers in 2020 as the coronavirus pandemic upended the travel industry.
(Reporting by David Shepardson; additional reporting by Allison Lampert in Montreal; Editing by Alex Richardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada did not immediately comment, but said in a U.S. government filing it agreed to the settlement "to avoid protracted litigation, as it focuses together with all stakeholders on rebuilding itself and doing its part to support the recovery of the airline industry". The Transportation Department in June disclosed it was also "actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it would take "enforcement action" as appropriate. By David Shepardson WASHINGTON, Nov 22 (Reuters) - Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. | By David Shepardson WASHINGTON, Nov 22 (Reuters) - Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. Air Canada did not immediately comment, but said in a U.S. government filing it agreed to the settlement "to avoid protracted litigation, as it focuses together with all stakeholders on rebuilding itself and doing its part to support the recovery of the airline industry". Air Canada said in June it has been refunding non-refundable tickets as part of the Canadian government's financial package. | By David Shepardson WASHINGTON, Nov 22 (Reuters) - Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. Air Canada did not immediately comment, but said in a U.S. government filing it agreed to the settlement "to avoid protracted litigation, as it focuses together with all stakeholders on rebuilding itself and doing its part to support the recovery of the airline industry". Air Canada said in June it has been refunding non-refundable tickets as part of the Canadian government's financial package. | By David Shepardson WASHINGTON, Nov 22 (Reuters) - Air Canada AC.TO has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. Air Canada did not immediately comment, but said in a U.S. government filing it agreed to the settlement "to avoid protracted litigation, as it focuses together with all stakeholders on rebuilding itself and doing its part to support the recovery of the airline industry". Air Canada said in June it has been refunding non-refundable tickets as part of the Canadian government's financial package. |
34919.0 | 2021-11-22 00:00:00 UTC | Air Canada agrees to $4.5 million settlement over delayed U.S. passenger refunds | AC | https://www.nasdaq.com/articles/air-canada-agrees-to-%244.5-million-settlement-over-delayed-u.s.-passenger-refunds | nan | nan | WASHINGTON, Nov 22 (Reuters) - Air Canada has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said.
The proposed settlement, which still must be approved by an administrative law judge, would resolve the U.S. Transportation Department investigation into what it said were "extreme delays in providing refunds to thousands of consumers for flights to or from the United States that the carrier canceled or significantly changed."
Of the $4.5 million settlement, $2.5 million would be credited to Air Canada for refunding passengers and $2 million would be paid to the U.S. Treasury.
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Nov 22 (Reuters) - Air Canada has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. The proposed settlement, which still must be approved by an administrative law judge, would resolve the U.S. Transportation Department investigation into what it said were "extreme delays in providing refunds to thousands of consumers for flights to or from the United States that the carrier canceled or significantly changed." (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Nov 22 (Reuters) - Air Canada has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. The proposed settlement, which still must be approved by an administrative law judge, would resolve the U.S. Transportation Department investigation into what it said were "extreme delays in providing refunds to thousands of consumers for flights to or from the United States that the carrier canceled or significantly changed." Of the $4.5 million settlement, $2.5 million would be credited to Air Canada for refunding passengers and $2 million would be paid to the U.S. Treasury. | WASHINGTON, Nov 22 (Reuters) - Air Canada has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. Of the $4.5 million settlement, $2.5 million would be credited to Air Canada for refunding passengers and $2 million would be paid to the U.S. Treasury. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, Nov 22 (Reuters) - Air Canada has agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed, the Transportation Department said. The proposed settlement, which still must be approved by an administrative law judge, would resolve the U.S. Transportation Department investigation into what it said were "extreme delays in providing refunds to thousands of consumers for flights to or from the United States that the carrier canceled or significantly changed." Of the $4.5 million settlement, $2.5 million would be credited to Air Canada for refunding passengers and $2 million would be paid to the U.S. Treasury. |
34920.0 | 2021-11-22 00:00:00 UTC | CANADA STOCKS-Toronto stocks drop as Powell nomination weighs on technology sector | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-stocks-drop-as-powell-nomination-weighs-on-technology-sector | nan | nan | By Nichola Saminather
Nov 22 (Reuters) - Canada's main stock index posted a fourth straight day of losses on Monday, as the prospect of higher interest rates next year weighed on technology stocks such as Shopify SHOP.TO after Jerome Powell was tapped to continue as Federal Reserve chair.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended the day down 134.26 points, or 0.6% at 21,420.77.
The technology subindex .SPTTTK was the biggest loser, falling 3%, as its biggest component, Shopify Inc lost 5.2%. Shopify is Canada's most valuable company.
Powell is seen as slightly more hawkish than Governor Lael Brainard, the other top candidate for the job who will be vice chair, said Philip Petursson, chief investment strategist at IG Wealth Management.
"This indicates to the market that you will see a response out of the Fed perhaps quicker than a Brainard Fed," he said. "That's what's impacting technology to the downside... and in Canada, Shopify can move the market."
Large technology stocks are generally seen as inflation hedges. In addition, payment processing services like Shopify charge per transaction, so steps by the central bank to tame inflation can be viewed as negative.
Investors also remained on edge over the flood situation in Canada's westernmost province, British Columbia, where more potentially damaging weather is forecast this week.
Financials gained 0.2% and energy rose 0.1%.
The gains in financial stocks mirrored those of Wall Street banks, which outperformed broader markets as investors anticipated faster U.S. interest rate hikes in 2022.
Biden's pick of Powell gave global investors stability and some predictability as the Fed plans to withdraw stimulus.
Oil prices gained 0.3% on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand.
Canadian energy company Crescent Point Energy CPG.TO was among the biggest gainers in Toronto, ending the day up 4%.
Pembina Pipeline PPL.TO shares, however, fell 2.7% to C$40.50, after the company said its CEO would step down to pursue other opportunities, and its CFO would take over as interim chief.
Air Canada AC.TO shares fell 1.4% to C$23.21 after the company agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed.
(Reporting by Nichola Saminather in Toronto; editing by Richard Pullin)
((Nichola.Saminather@thomsonreuters.com; +1 647 480 7519;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "That's what's impacting technology to the downside... and in Canada, Shopify can move the market." In addition, payment processing services like Shopify charge per transaction, so steps by the central bank to tame inflation can be viewed as negative. Air Canada AC.TO shares fell 1.4% to C$23.21 after the company agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed. | Air Canada AC.TO shares fell 1.4% to C$23.21 after the company agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed. "That's what's impacting technology to the downside... and in Canada, Shopify can move the market." In addition, payment processing services like Shopify charge per transaction, so steps by the central bank to tame inflation can be viewed as negative. | "That's what's impacting technology to the downside... and in Canada, Shopify can move the market." In addition, payment processing services like Shopify charge per transaction, so steps by the central bank to tame inflation can be viewed as negative. Air Canada AC.TO shares fell 1.4% to C$23.21 after the company agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed. | "That's what's impacting technology to the downside... and in Canada, Shopify can move the market." In addition, payment processing services like Shopify charge per transaction, so steps by the central bank to tame inflation can be viewed as negative. Air Canada AC.TO shares fell 1.4% to C$23.21 after the company agreed to a $4.5 million settlement to resolve a U.S. government investigation into claims thousands of air passenger refunds were delayed. |
34921.0 | 2021-11-19 00:00:00 UTC | CANADA STOCKS-TSX hits one-week low as oil slides on European lockdown fears | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-hits-one-week-low-as-oil-slides-on-european-lockdown-fears | nan | nan | Nov 19 (Reuters) - Canadian stocks fell to one-week low on Friday weighed by energy shares after oil prices slumped as a fresh surge in COVID-19 cases in Europe threatened to slow an economic recovery.
At 10:23 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell about 0.3% to 21,572.82.
Global stock markets went into a tailspin after news that Austria will become the first western European state to reimpose a full coronavirus lockdown to tackle a new wave of infections and signs that Germany might do the same.
The TSX energy sector .SPTTEN dropped 2.7% as oil prices, one of Canada's major exports, fell on worries of a further hit to fuel demand at a time when major economies are weighing release of crude reserves to cool prices. O/R
Shares of Enerplus Corp ERF.TO, Crescent Point Energy Corp CPG.TO and Cenovus Energy Inc CVE.TO were the top decliners on the benchmark index, falling more than 5% each.
Friday's losses put the TSX index on course for a weekly loss of about 1%, after strong earnings and a rally in crude prices took it to a record high on Tuesday.
On the bright side, Statistics Canada data indicated retail trade is set to rise in October after doing better than expected in September.
Canada also authorized the use of Pfizer Inc's PFE.N COVID-19 vaccine for children aged 5 to 11, paving the way for the inoculation of elementary school-age children across the country.
Pot producers Tilray Inc TLRY.TO, Aurora Cannabis Inc ACB.TO and Canopy Growth Corp WEED.TO rose between 1.6% and 4.8%, limiting losses on the main index.
However, shares in Air Canada AC.TO slipped 2% despite saying it would not need further financial support from the government, citing the airline's recovery from the COVID-19 pandemic.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Amy Caren Daniel)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Global stock markets went into a tailspin after news that Austria will become the first western European state to reimpose a full coronavirus lockdown to tackle a new wave of infections and signs that Germany might do the same. Pot producers Tilray Inc TLRY.TO, Aurora Cannabis Inc ACB.TO and Canopy Growth Corp WEED.TO rose between 1.6% and 4.8%, limiting losses on the main index. O/R Shares of Enerplus Corp ERF.TO, Crescent Point Energy Corp CPG.TO and Cenovus Energy Inc CVE.TO were the top decliners on the benchmark index, falling more than 5% each. | Global stock markets went into a tailspin after news that Austria will become the first western European state to reimpose a full coronavirus lockdown to tackle a new wave of infections and signs that Germany might do the same. O/R Shares of Enerplus Corp ERF.TO, Crescent Point Energy Corp CPG.TO and Cenovus Energy Inc CVE.TO were the top decliners on the benchmark index, falling more than 5% each. Canada also authorized the use of Pfizer Inc's PFE.N COVID-19 vaccine for children aged 5 to 11, paving the way for the inoculation of elementary school-age children across the country. | O/R Shares of Enerplus Corp ERF.TO, Crescent Point Energy Corp CPG.TO and Cenovus Energy Inc CVE.TO were the top decliners on the benchmark index, falling more than 5% each. Global stock markets went into a tailspin after news that Austria will become the first western European state to reimpose a full coronavirus lockdown to tackle a new wave of infections and signs that Germany might do the same. Canada also authorized the use of Pfizer Inc's PFE.N COVID-19 vaccine for children aged 5 to 11, paving the way for the inoculation of elementary school-age children across the country. | Pot producers Tilray Inc TLRY.TO, Aurora Cannabis Inc ACB.TO and Canopy Growth Corp WEED.TO rose between 1.6% and 4.8%, limiting losses on the main index. Global stock markets went into a tailspin after news that Austria will become the first western European state to reimpose a full coronavirus lockdown to tackle a new wave of infections and signs that Germany might do the same. O/R Shares of Enerplus Corp ERF.TO, Crescent Point Energy Corp CPG.TO and Cenovus Energy Inc CVE.TO were the top decliners on the benchmark index, falling more than 5% each. |
34922.0 | 2021-11-19 00:00:00 UTC | Air Canada says it will not need more funding from Canadian government | AC | https://www.nasdaq.com/articles/air-canada-says-it-will-not-need-more-funding-from-canadian-government | nan | nan | Adds details from press statement
Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic and improved financial position.
The Canadian government in April had announced a support package that provided the carrier access to interest bearing loans of C$5.38 billion ($4.25 billion).
Air Canada said about C$3.98 billion worth of loans from the facility were "were never accessed and remain unused."
The company said it completed a series of financing deals that generated cash of about C$7.1 billion in the third quarter, further prompting it to exit Canada's aid package.
($1 = 1.2647 Canadian dollars)
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva and Shailesh Kuber)
((Abhijith.G@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada said about C$3.98 billion worth of loans from the facility were "were never accessed and remain unused." The company said it completed a series of financing deals that generated cash of about C$7.1 billion in the third quarter, further prompting it to exit Canada's aid package. Adds details from press statement Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic and improved financial position. | Adds details from press statement Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic and improved financial position. The Canadian government in April had announced a support package that provided the carrier access to interest bearing loans of C$5.38 billion ($4.25 billion). Air Canada said about C$3.98 billion worth of loans from the facility were "were never accessed and remain unused." | Adds details from press statement Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic and improved financial position. The Canadian government in April had announced a support package that provided the carrier access to interest bearing loans of C$5.38 billion ($4.25 billion). Air Canada said about C$3.98 billion worth of loans from the facility were "were never accessed and remain unused." | Adds details from press statement Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic and improved financial position. The Canadian government in April had announced a support package that provided the carrier access to interest bearing loans of C$5.38 billion ($4.25 billion). Air Canada said about C$3.98 billion worth of loans from the facility were "were never accessed and remain unused." |
34923.0 | 2021-11-19 00:00:00 UTC | Air Canada says it will not need more funding from Canada | AC | https://www.nasdaq.com/articles/air-canada-says-it-will-not-need-more-funding-from-canada | nan | nan | Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic.
(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva)
((Abhijith.G@thomsonreuters.com;)) | Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva) ((Abhijith.G@thomsonreuters.com;)) | Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva) ((Abhijith.G@thomsonreuters.com;)) | Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva) ((Abhijith.G@thomsonreuters.com;)) | Nov 19 (Reuters) - Air Canada AC.TO said on Friday it would not need further financial support from the Canadian government, citing the airline's recovery from the COVID-19 pandemic. (Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Anil D'Silva) ((Abhijith.G@thomsonreuters.com;)) |
34924.0 | 2021-11-16 00:00:00 UTC | Canada's Lynx rebrands as budget carrier, plans 2022 launch | AC | https://www.nasdaq.com/articles/canadas-lynx-rebrands-as-budget-carrier-plans-2022-launch-0 | nan | nan | Adds quote from Lynx CEO
Nov 16 (Reuters) - Canadian budget upstart Lynx Air said on Tuesday it will launch service in early 2022 with a former Australian airline executive as CEO and new Boeing BA.N 737 MAX jets, as leisure traffic rebounds after a COVID-19-induced slump.
Calgary-based Lynx, formerly charter Enerjet, is banking on growth as an ultra-low-cost carrier under Chief Executive Merren McArthur, a former head of budget airline Tigerair Australia.
Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. The first three 737s will arrive in early 2022 when service starts.
It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travelers.
Canadian budget carrier Flair Airlines, headed by a former executive from European budget heavyweight Wizz Air WIZZ.L, announced flights to Mexico on Tuesday. Flair also uses a MAX fleet.
"We're not really trying to steal market from any other carrier," McArthur told reporters in a virtual call. "We're really trying to grow the market so we can inspire more people to travel."
While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies.
Earlier on Tuesday, Air Canada AC.TO Chief Financial Officer Amos Kazzaz said he sees strong demand from leisure travelers for sun markets going into the winter holidays.
“We see sort of buildup into what we hope to be a strong summer into transatlantic markets,” Kazzaz told the Scotiabank transportation and industrials conference, citing travel to India as a "bright spot."
(Reporting by Allison Lampert in Montreal Editing by Matthew Lewis and Nick Zieminski)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travelers. Earlier on Tuesday, Air Canada AC.TO Chief Financial Officer Amos Kazzaz said he sees strong demand from leisure travelers for sun markets going into the winter holidays. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. | Earlier on Tuesday, Air Canada AC.TO Chief Financial Officer Amos Kazzaz said he sees strong demand from leisure travelers for sun markets going into the winter holidays. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travelers. | It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travelers. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies. | Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travelers. While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies. |
34925.0 | 2021-11-16 00:00:00 UTC | Canada's Lynx rebrands as budget carrier, plans 2022 launch | AC | https://www.nasdaq.com/articles/canadas-lynx-rebrands-as-budget-carrier-plans-2022-launch | nan | nan | Nov 16 (Reuters) - Canadian budget upstart Lynx Air said on Tuesday it will launch service in early 2022 with a former Australian airline executive as CEO and new Boeing BA.N 737 MAX jets, as leisure traffic rebounds after a COVID-19-induced slump.
Calgary-based Lynx, formerly charter Enerjet, is banking on growth as an ultra-low-cost carrier under Chief Executive Merren McArthur, a former head of budget airline Tigerair Australia.
Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. The first three 737s will arrive in early 2022 when service starts.
It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travellers.
Canadian budget carrier Flair Airlines, headed by a former executive from European budget heavyweight Wizz Air WIZZ.L, announced flights to Mexico on Tuesday. Flair also uses a MAX fleet.
While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies.
Earlier on Tuesday, Air Canada AC.TO Chief Financial Officer Amos Kazzaz said he sees strong demand from leisure travelers for sun markets going into the winter holidays.
“We see sort of buildup into what we hope to be a strong summer into transatlantic markets,” Kazzaz told the Scotiabank transportation and industrials conference, citing travel to India as a "bright spot."
(Reporting by Allison Lampert in Montreal Editing by Matthew Lewis)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travellers. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies. | Earlier on Tuesday, Air Canada AC.TO Chief Financial Officer Amos Kazzaz said he sees strong demand from leisure travelers for sun markets going into the winter holidays. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travellers. | It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travellers. Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies. | Lynx said in a news release it has firm orders and lease agreements in place for a total of 46 Boeing 737 MAX aircraft over the next seven years. It is the latest budget service being introduced in Canada, one of the world's toughest markets for airlines due to high taxes, fees and the costly requirement of a negative COVID molecular test for fully vaccinated arriving travellers. While Canada's travel sector was battered during the pandemic, traffic is bouncing back as vaccinated travelers who have not seen friends and family for over a year take to the skies. |
34926.0 | 2021-11-16 00:00:00 UTC | American Airlines, travel platform Winding Tree announce blockchain partnership | AC | https://www.nasdaq.com/articles/american-airlines-travel-platform-winding-tree-announce-blockchain-partnership | nan | nan | By Gertrude Chavez-Dreyfuss
NEW YORK, Nov 16 (Reuters) - American Airlines AAL.O and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries.
Winding Tree is an Ethereum-based decentralized travel marketplace launched in 2017 that says it aims to make travel cheaper for consumers and more profitable for suppliers.
Travel agents and corporate travel bookers currently get their data on flights and rooms from global distribution systems (GDS) such as Amadeus and Sabre, which employ real-time inventory technology.
Winding Tree's platform will allow companies like airlines and hotel operators to publish available inventory directly to those customers.
"We're always looking for innovative ways to give our customers access to American's content in the way that's most convenient for them," said Neil Geurin, managing director for digital and distribution at American.
Through the partnership, Winding Tree will provide a framework for American's leisure bookings program with corporate buyers. The program will be able to negotiate unique offers directly with American Airlines
"While marketplace connectivity is generic, Ethereum blockchain ensures that each relationship is unique to the private agreement between seller and buyer which enables personalized content pricing between the two parties," said Pedro Anderson, chief operating officer and co-founder of Winding Tree.
Alongside a growing list of partners, American Airlines joins Air Canada in leveraging Winding Tree's decentralized marketplace to deal more directly with buyers.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Dan Grebler)
((gertrude.chavez@thomsonreuters.com; 646-301-4124; Reuters Messaging: gertrude.chavez.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The program will be able to negotiate unique offers directly with American Airlines "While marketplace connectivity is generic, Ethereum blockchain ensures that each relationship is unique to the private agreement between seller and buyer which enables personalized content pricing between the two parties," said Pedro Anderson, chief operating officer and co-founder of Winding Tree. Alongside a growing list of partners, American Airlines joins Air Canada in leveraging Winding Tree's decentralized marketplace to deal more directly with buyers. By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 (Reuters) - American Airlines AAL.O and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries. | By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 (Reuters) - American Airlines AAL.O and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries. "We're always looking for innovative ways to give our customers access to American's content in the way that's most convenient for them," said Neil Geurin, managing director for digital and distribution at American. Alongside a growing list of partners, American Airlines joins Air Canada in leveraging Winding Tree's decentralized marketplace to deal more directly with buyers. | By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 (Reuters) - American Airlines AAL.O and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries. The program will be able to negotiate unique offers directly with American Airlines "While marketplace connectivity is generic, Ethereum blockchain ensures that each relationship is unique to the private agreement between seller and buyer which enables personalized content pricing between the two parties," said Pedro Anderson, chief operating officer and co-founder of Winding Tree. Alongside a growing list of partners, American Airlines joins Air Canada in leveraging Winding Tree's decentralized marketplace to deal more directly with buyers. | By Gertrude Chavez-Dreyfuss NEW YORK, Nov 16 (Reuters) - American Airlines AAL.O and Swiss travel platform Winding Tree said on Tuesday they have formed a partnership that will enable corporate buyers to access the U.S. airline's data on flights directly, without the need for intermediaries. Winding Tree is an Ethereum-based decentralized travel marketplace launched in 2017 that says it aims to make travel cheaper for consumers and more profitable for suppliers. "We're always looking for innovative ways to give our customers access to American's content in the way that's most convenient for them," said Neil Geurin, managing director for digital and distribution at American. |
34927.0 | 2021-11-11 00:00:00 UTC | SNC-Lavalin CEO postpones English speech amid language debate in Quebec | AC | https://www.nasdaq.com/articles/snc-lavalin-ceo-postpones-english-speech-amid-language-debate-in-quebec | nan | nan | Nov 11 (Reuters) - SNC-Lavalin Group Inc's SNC.TO chief executive officer has postponed an almost entirely English-language speech scheduled for next week in Montreal as French-language skills of Quebec's non-francophone business executives come under scrutiny.
Ian Edwards, in a letter to Marc Perron, the board president of Canadian Club of Montreal, said he decided to postpone the speech in a bid to sharpen his French skills.
Recent events on the usage of French at Quebec and Canadian companies led to the decision, Edwards wrote in the letter, which was released by the Montreal-based construction and engineering company on Thursday.
Earlier in the week, Air Canada AC.TO Chief Executive Officer Michael Rousseau was at the receiving end of the ire of the Canadian government, when deputy prime minister Chrystia Freeland said he should improve his French.
Rousseau apologized for remarks suggesting he did not need to speak French, Canada's second language, and also pledged to improve his language skills. He received criticism for giving a speech mostly in English from Canadian Prime Minister Justin Trudeau as well as in Montreal, where the airline is headquartered.
Language remains a sensitive issue in predominantly French-speaking Quebec, Canada's second-most-populous province, where unhappiness over the dominance of English helped the rise of the separatist Parti Quebecois (PQ) in the 1970s.
(Reporting by Bhargav Acharya in Bengaluru; additional reporting by Allison Lampert in Montreal; Editing by Sherry Jacob-Phillips)
((Bhargav.Acharya@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier in the week, Air Canada AC.TO Chief Executive Officer Michael Rousseau was at the receiving end of the ire of the Canadian government, when deputy prime minister Chrystia Freeland said he should improve his French. (Reporting by Bhargav Acharya in Bengaluru; additional reporting by Allison Lampert in Montreal; Editing by Sherry Jacob-Phillips) ((Bhargav.Acharya@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Ian Edwards, in a letter to Marc Perron, the board president of Canadian Club of Montreal, said he decided to postpone the speech in a bid to sharpen his French skills. | Earlier in the week, Air Canada AC.TO Chief Executive Officer Michael Rousseau was at the receiving end of the ire of the Canadian government, when deputy prime minister Chrystia Freeland said he should improve his French. (Reporting by Bhargav Acharya in Bengaluru; additional reporting by Allison Lampert in Montreal; Editing by Sherry Jacob-Phillips) ((Bhargav.Acharya@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Nov 11 (Reuters) - SNC-Lavalin Group Inc's SNC.TO chief executive officer has postponed an almost entirely English-language speech scheduled for next week in Montreal as French-language skills of Quebec's non-francophone business executives come under scrutiny. | Earlier in the week, Air Canada AC.TO Chief Executive Officer Michael Rousseau was at the receiving end of the ire of the Canadian government, when deputy prime minister Chrystia Freeland said he should improve his French. (Reporting by Bhargav Acharya in Bengaluru; additional reporting by Allison Lampert in Montreal; Editing by Sherry Jacob-Phillips) ((Bhargav.Acharya@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Nov 11 (Reuters) - SNC-Lavalin Group Inc's SNC.TO chief executive officer has postponed an almost entirely English-language speech scheduled for next week in Montreal as French-language skills of Quebec's non-francophone business executives come under scrutiny. | Earlier in the week, Air Canada AC.TO Chief Executive Officer Michael Rousseau was at the receiving end of the ire of the Canadian government, when deputy prime minister Chrystia Freeland said he should improve his French. (Reporting by Bhargav Acharya in Bengaluru; additional reporting by Allison Lampert in Montreal; Editing by Sherry Jacob-Phillips) ((Bhargav.Acharya@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Ian Edwards, in a letter to Marc Perron, the board president of Canadian Club of Montreal, said he decided to postpone the speech in a bid to sharpen his French skills. |
34928.0 | 2021-11-08 00:00:00 UTC | Make your CEO learn French, Canada tells Air Canada board | AC | https://www.nasdaq.com/articles/make-your-ceo-learn-french-canada-tells-air-canada-board | nan | nan | MONTREAL, Nov 8 (Reuters) - The chief executive of Canada's largest carrier should have to improve his French as part of his annual board review, the country's No. 2 government official said on Monday as a language controversy dogged the airline.
Air Canada CEO Michael Rousseau pledged last week to improve his French skills and apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual.
Language remains a sensitive issue in mostly French-speaking Quebec, the country's second-most-populous province, where unhappiness over the dominance of English helped the rise of the separatist Parti Quebecois (PQ) in the 1970s.
Rousseau's comments and decision to give a speech almost entirely in English triggered criticism from Canadian Prime Minister Justin Trudeau and in Montreal, where the airline is headquartered.
Air Canada was not immediately available for comment.
In a letter to Air Canada's board made public on Monday, deputy prime minister Chrystia Freeland said Rousseau's ability to communicate in French "should be incorporated as one of his key performance goals established by the board and play an important part in the board’s evaluation of his annual performance."
Freeland, who is also Canada's finance minister, said the ability to communicate in French should become a criterion for promotion to senior positions at the airline.
As part of a pandemic bailout package, Ottawa in April took a stake in Air Canada, which is subject to the country's Official Languages Act and must serve customers in English and French.
Freeland noted in the letter that Ottawa holds about 6% of Air Canada's outstanding stock, and is one of the carrier's largest shareholders.
"This issue raises questions about the quality of governance exercised by the board of Air Canada with respect to the treatment of the French language within the management ranks of the company," Freeland wrote.
(Reporting By Allison Lampert in Montreal; Editing by Dan Grebler)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As part of a pandemic bailout package, Ottawa in April took a stake in Air Canada, which is subject to the country's Official Languages Act and must serve customers in English and French. Language remains a sensitive issue in mostly French-speaking Quebec, the country's second-most-populous province, where unhappiness over the dominance of English helped the rise of the separatist Parti Quebecois (PQ) in the 1970s. "This issue raises questions about the quality of governance exercised by the board of Air Canada with respect to the treatment of the French language within the management ranks of the company," Freeland wrote. | As part of a pandemic bailout package, Ottawa in April took a stake in Air Canada, which is subject to the country's Official Languages Act and must serve customers in English and French. MONTREAL, Nov 8 (Reuters) - The chief executive of Canada's largest carrier should have to improve his French as part of his annual board review, the country's No. In a letter to Air Canada's board made public on Monday, deputy prime minister Chrystia Freeland said Rousseau's ability to communicate in French "should be incorporated as one of his key performance goals established by the board and play an important part in the board’s evaluation of his annual performance." | As part of a pandemic bailout package, Ottawa in April took a stake in Air Canada, which is subject to the country's Official Languages Act and must serve customers in English and French. Air Canada CEO Michael Rousseau pledged last week to improve his French skills and apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. In a letter to Air Canada's board made public on Monday, deputy prime minister Chrystia Freeland said Rousseau's ability to communicate in French "should be incorporated as one of his key performance goals established by the board and play an important part in the board’s evaluation of his annual performance." | As part of a pandemic bailout package, Ottawa in April took a stake in Air Canada, which is subject to the country's Official Languages Act and must serve customers in English and French. MONTREAL, Nov 8 (Reuters) - The chief executive of Canada's largest carrier should have to improve his French as part of his annual board review, the country's No. 2 government official said on Monday as a language controversy dogged the airline. |
34929.0 | 2021-11-04 00:00:00 UTC | Air Canada CEO apologizes to Quebecers, pledges 'to improve my French' | AC | https://www.nasdaq.com/articles/air-canada-ceo-apologizes-to-quebecers-pledges-to-improve-my-french-2021-11-04-0 | nan | nan | By David Ljunggren
OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual.
"In no way did I mean to show disrespect for Quebecers and francophones across the country. I apologize to those who were offended by my remarks," Rousseau said in a statement. "I pledge today to improve my French".
Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread criticism in the predominantly French-speaking province of Quebec, where the airline is headquartered.
Rousseau, who took over in February, stumbled after being grilled over his inability to speak French properly despite having lived in Montreal for 14 years.
The comment that drew criticism was: "I've been able to live in Montreal without speaking French, and I think that's a testament to the city of Montreal". He also blamed his busy schedule.
The issue is sensitive in Quebec, the second most populous province, where unhappiness over the dominance of English helped the rise of the separatist Parti Quebecois (PQ) in the 1970s. Quebec has had several PQ governments.
Canada also has a federal separatist party, the Bloc Quebecois, which is a potential partner for Prime Minister Justin Trudeau's minority Liberal administration. Trudeau needs the support of opposition parliamentarians to govern.
"We ask the federal government to use its position as an Air Canada shareholder to demand Mr. Rousseau's resignation," the Bloc said in a statement.
In April Ottawa took a stake in Air Canada, which is subject to the Official Languages Act and must serve customers in English and French.
Provincial Justice Minister Simon Jolin-Barrette, who is pushing draft legislation to strengthen the use of French, condemned Rousseau's comments as unworthy.
"The big boss of Air Canada expresses everything we rejected decades ago: contempt for our language and our culture," he tweeted.
Federal Official Languages Minister Ginette Petitpas Taylor said Air Canada's leaders had to set a good example.
Air Canada this week reported a better-than-expected quarterly revenue. [nL4N2RT2GH
(Reporting by David Ljunggren; Editing by David Gregorio)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread criticism in the predominantly French-speaking province of Quebec, where the airline is headquartered. By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. "In no way did I mean to show disrespect for Quebecers and francophones across the country. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. "In no way did I mean to show disrespect for Quebecers and francophones across the country. Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread criticism in the predominantly French-speaking province of Quebec, where the airline is headquartered. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. In April Ottawa took a stake in Air Canada, which is subject to the Official Languages Act and must serve customers in English and French. "In no way did I mean to show disrespect for Quebecers and francophones across the country. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. "In no way did I mean to show disrespect for Quebecers and francophones across the country. Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread criticism in the predominantly French-speaking province of Quebec, where the airline is headquartered. |
34930.0 | 2021-11-04 00:00:00 UTC | Air Canada CEO apologizes to Quebecers, pledges 'to improve my French' | AC | https://www.nasdaq.com/articles/air-canada-ceo-apologizes-to-quebecers-pledges-to-improve-my-french-2021-11-04 | nan | nan | By David Ljunggren
OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual.
"In no way did I mean to show disrespect for Quebecers and francophones across the country. I apologize to those who were offended by my remarks," Rousseau said in a statement. "I pledge today to improve my French".
Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread media and political criticism in the predominantly French-speaking province of Quebec, where the airline has its headquarters.
Rousseau, who took over in February, landed in trouble after being grilled on Wednesday over his inability to speak French properly despite having lived in Montreal for 14 years.
The comment that drew criticism was: "I've been able to live in Montreal without speaking French, and I think that's a testament to the city of Montreal". He also blamed his busy schedule.
Air Canada is subject to the Official Languages Act and must serve customers in English and French. The issue is sensitive in Quebec, the second most populous province, where unhappiness over the dominance of English helped the rise of the separatist Parti Quebecois (PQ) in the 1970s. Quebec has had several PQ governments.
Provincial Justice Minister Simon Jolin-Barrette, who is pushing draft legislation to strengthen the use of French, condemned Rousseau's comments as unworthy.
"The big boss of Air Canada expresses everything we rejected decades ago: contempt for our language and our culture," he tweeted.
Federal Official Languages Minister Ginette Petitpas Taylor said Air Canada's leaders had to set a good example.
Canada also has a federal separatist party, the Bloc Quebecois, which is a potential partner for Prime Minister Justin Trudeau's minority Liberal administration. Trudeau needs the support of opposition parliamentarians to govern.
Air Canada this week reported a better-than-expected quarterly revenue.
(Reporting by David Ljunggren; Editing by David Gregorio)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread media and political criticism in the predominantly French-speaking province of Quebec, where the airline has its headquarters. By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. "In no way did I mean to show disrespect for Quebecers and francophones across the country. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. "In no way did I mean to show disrespect for Quebecers and francophones across the country. Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread media and political criticism in the predominantly French-speaking province of Quebec, where the airline has its headquarters. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread media and political criticism in the predominantly French-speaking province of Quebec, where the airline has its headquarters. Air Canada is subject to the Official Languages Act and must serve customers in English and French. | By David Ljunggren OTTAWA, Nov 4 (Reuters) - Air Canada AC.TO chief executive officer Michael Rousseau on Thursday apologized for remarks suggesting he did not need to speak French, Canada's second language, even though the airline is officially bilingual. Rousseau was backtracking from remarks to reporters in Montreal on Wednesday that triggered widespread media and political criticism in the predominantly French-speaking province of Quebec, where the airline has its headquarters. "In no way did I mean to show disrespect for Quebecers and francophones across the country. |
34931.0 | 2021-11-02 00:00:00 UTC | CANADA STOCKS-Toronto market dips as investors weigh supply chain headwinds | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-market-dips-as-investors-weigh-supply-chain-headwinds-2021-11-02 | nan | nan | By Fergal Smith
TORONTO, Nov 2 (Reuters) - Canada's main stock index fell on Tuesday as investors weighed prospects of weaker economic growth and ahead of an expected move by the U.S. Federal Reserve to cut economic stimulus, with resource and healthcare stocks leading the declines.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 77.00 points, or 0.4%, at 21,170.01. It notched last week a record closing high of 21,284.84.
"I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management.
"We're due for a little bit of a pause because the next stage in terms of the recovery and the reopening will show weaker earnings and some headwinds from the supply chain and just slower growth."
A preliminary estimate last Friday showed Canadian third-quarter GDP increasing at an annualized rate of 1.9%, much less than the Bank of Canada forecast at last week's policy announcement.
Investors were looking ahead to the outcome of the Fed's two-day meeting on Wednesday. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic.
The energy sector fell 1.6%, retreating from a 30-month high on weakness in crude prices, while the materials group, which includes precious and base metals miners and fertilizer companies, lost 1.4%.
Bausch Health Cos Inc BHC.TO was among the leading decliners. Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. The healthcare sector ended 3.5% lower.
Shares of Air Canada AC.TO rose 4.4% after the company reported better-than-expected quarterly revenue. Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier.
(Reporting by Fergal Smith; Additional reporting by Amal S in Bengaluru Editing by Marguerita Choy)
((fergal.smith@thomsonreuters.com; +1 647 480 7446;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. | "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. | "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. | Its shares fell 9.3% after the pharmaceutical company missed estimates for third-quarter revenue. "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. The central bank is expected to approve plans to scale back its $120 billion monthly bond-buying program put in place to help the economy during the pandemic. |
34932.0 | 2021-11-02 00:00:00 UTC | FOCUS-Airlines reopen lounges with new perks, more walk-ins from economy | AC | https://www.nasdaq.com/articles/focus-airlines-reopen-lounges-with-new-perks-more-walk-ins-from-economy-2021-11-02 | nan | nan | By Allison Lampert
MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee.
Premium travel plummeted during the COVID-19 crisis, depriving airlines of higher-margin fares. But with traffic rebounding in certain regions and U.S.-bound travel set to reopen on Nov 8, lounges are a crucial weapon in airlines' post-crisis strategies for retaining their more profitable clients.
United Airlines UAL.O opened its first Polaris lounge at Washington Dulles on Oct 21 and announced plans last Thursday to reopen existing lounges in New York, Chicago and Houston by end-year, with the rest set to follow in early 2022.
Air France AIRF.PA has inaugurated a 3,000-square-metre temple to French design in one of its main terminals at Paris Charles de Gaulle. Dubai's Emirates EMIRA.UL and Air Canada AC.TO both plan upgrades to lounge dining and service.
"A lot of the narrative around 2022 is really going to be around that food program, how we serve our customers and elevating that aspect of the experience," said Mats Winter, director of product for Canada's largest carrier.
Air Canada wants a "competitive product" for its business clientele but also for leisure travelers who are making up a growing part of premium-fare purchases, he said.
"The mix has changed, but our commitment to making sure we have a great premium product hasn't. We are obviously keeping a very close eye on the traffic we are seeing in our lounges," Winter added.
NEW REVENUES
Designed as an oasis for premium travelers, lounges could attract more passengers looking to avoid crowds during COVID, said Michael Di Corpo, managing director of Montreal-based firm IEG, which sells software for managing airport lounges.
Passengers globally are contending with longer lines due to requirements like proof of vaccination, while many face longer layovers since ailing airlines now offer fewer direct flights.
"We're seeing more of the 'paying their way' as a way of generating revenues, assuming they're not at capacity," Di Corpo said, referring to the purchase of daily lounge access.
Airlines contacted by Reuters don't break out revenues from lounge services.
While some airlines have previously sold lounge access to passengers from the back of the plane, pressure to find new revenues in the wake of the industry's worst crisis has grown.
Qatar Airways for one, recently launched a less expensive Business Lite fare, where lounge access costs extra.
American Airlines AAL.O, which reopened the first of its Flagship Lounges in September to premium classes on long-haul flights, made paid access available for the first time.
The airline is especially targeting people traveling for occasions like weddings and reunions, a spokeswoman said.
But there are limits to the democratization of lounges, which can represent investments of millions of dollars.
The last thing executives say they can afford is to crowd out corporate clientele or well-off individuals who drive profits on routes like the Atlantic, with the U.S. lifting restrictions Nov 8 for vaccinated foreigners.
At American, the $150 cost of a day pass to Flagship doesn't give economy passengers access to its most elite service, a private restaurant within the lounge. It does include food with a different menu and space.
United said Polaris lounges would remain premium class only.
Air Canada decided last November to open three of its Maple Leaf lounges to paying walk-in economy passengers and travelers from other airlines on a trial basis to use spare capacity during COVID-19. It has since ended the practice in Vancouver.
"We don't want this to eventually drive capacity concerns, for example, for our premium customers," Winter said.
(Reporting By Allison Lampert in Montreal; Additional reporting by Alexander Cornwell in Dubai; Editing by Tim Hepher and Edward Tobin)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee. The last thing executives say they can afford is to crowd out corporate clientele or well-off individuals who drive profits on routes like the Atlantic, with the U.S. lifting restrictions Nov 8 for vaccinated foreigners. Air Canada decided last November to open three of its Maple Leaf lounges to paying walk-in economy passengers and travelers from other airlines on a trial basis to use spare capacity during COVID-19. | By Allison Lampert MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee. Designed as an oasis for premium travelers, lounges could attract more passengers looking to avoid crowds during COVID, said Michael Di Corpo, managing director of Montreal-based firm IEG, which sells software for managing airport lounges. Dubai's Emirates EMIRA.UL and Air Canada AC.TO both plan upgrades to lounge dining and service. | By Allison Lampert MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee. Designed as an oasis for premium travelers, lounges could attract more passengers looking to avoid crowds during COVID, said Michael Di Corpo, managing director of Montreal-based firm IEG, which sells software for managing airport lounges. Dubai's Emirates EMIRA.UL and Air Canada AC.TO both plan upgrades to lounge dining and service. | By Allison Lampert MONTREAL, Nov 2 (Reuters) - Airlines are reopening airport lounges with higher-end service to lure back premium travelers after the pandemic, while increasingly opening the VIP experience to tourists - for a fee. Airlines contacted by Reuters don't break out revenues from lounge services. "We don't want this to eventually drive capacity concerns, for example, for our premium customers," Winter said. |
34933.0 | 2021-11-02 00:00:00 UTC | CANADA STOCKS-Energy, healthcare stocks drag TSX; Air Canada jumps | AC | https://www.nasdaq.com/articles/canada-stocks-energy-healthcare-stocks-drag-tsx-air-canada-jumps-2021-11-02 | nan | nan | By Amal S
Nov 2 (Reuters) - Canada's main stock index edged lower on Tuesday, weighed down by a more than 1% slide in energy and healthcare stocks and caution ahead of the U.S. Federal Reserve meeting, while a jump in Air Canada shares on upbeat earnings helped limit losses.
At 9:41 a.m. ET (13:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 18.73 points, or 0.09%, at 21,228.28.
Leading declines were healthcare stocks .GSPTTHC, with Bausch Health Cos Inc BHC.TO down 2% after the pharmaceutical company reported dismal third-quarter earnings.
The energy sector .SPTTEN fell 1.2%, retreating from a 30-month high on weakness in crude prices. O/R
Investors were cautious ahead of the Fed's two-day meeting which ends on Wednesday, where policymakers are expected to start scaling back bond purchases.
Air Canada AC.TO was a bright spot, the biggest percentage gainer on the index with a 4.8% gain after the country's largest carrier beat quarterly revenue estimates.
"I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management.
"We're due for a little bit of a pause because the next stage in terms of the recovery and the reopening will show weaker earnings and some headwinds from supply chain and just slower growth."
The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 1.0% as gold futures GCc1 fell 0.2% to $1,791.3 an ounce. GOL/MET/L
HIGHLIGHTS
Thomson Reuters Corp TRI.TO reported higher quarterly sales and raised its full-year revenue forecast for the third time this year as the global news and information company benefits from a recovering global economy, sending its shares up 1.9%.
Westport Fuel Systems Inc WPRT.TO and Gibson Energy Inc GEI.TO were the biggest decliners on the index.
The TSX posted 5 new 52-week highs and one new low.
Across all Canadian issues there were 48 new 52-week highs and 8 new lows, with total volume of 29.91 million shares.
(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | O/R Investors were cautious ahead of the Fed's two-day meeting which ends on Wednesday, where policymakers are expected to start scaling back bond purchases. Air Canada AC.TO was a bright spot, the biggest percentage gainer on the index with a 4.8% gain after the country's largest carrier beat quarterly revenue estimates. "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. | "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. Leading declines were healthcare stocks .GSPTTHC, with Bausch Health Cos Inc BHC.TO down 2% after the pharmaceutical company reported dismal third-quarter earnings. O/R Investors were cautious ahead of the Fed's two-day meeting which ends on Wednesday, where policymakers are expected to start scaling back bond purchases. | "I think the Canadian earnings get quite a bit of strength backed by energy, material and financial sectors and a lot of that is already priced in," said Philip Petursson, chief investment strategist at IG Wealth Management. Leading declines were healthcare stocks .GSPTTHC, with Bausch Health Cos Inc BHC.TO down 2% after the pharmaceutical company reported dismal third-quarter earnings. O/R Investors were cautious ahead of the Fed's two-day meeting which ends on Wednesday, where policymakers are expected to start scaling back bond purchases. | Air Canada AC.TO was a bright spot, the biggest percentage gainer on the index with a 4.8% gain after the country's largest carrier beat quarterly revenue estimates. Leading declines were healthcare stocks .GSPTTHC, with Bausch Health Cos Inc BHC.TO down 2% after the pharmaceutical company reported dismal third-quarter earnings. O/R Investors were cautious ahead of the Fed's two-day meeting which ends on Wednesday, where policymakers are expected to start scaling back bond purchases. |
34934.0 | 2021-11-02 00:00:00 UTC | Air Canada posts smaller quarterly loss as travel demand improves | AC | https://www.nasdaq.com/articles/air-canada-posts-smaller-quarterly-loss-as-travel-demand-improves-2021-11-02 | nan | nan | Adds details from the press statement
Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier.
North American airlines have reported upbeat results this quarter as vaccinated travelers, who have not seen friends and family for over a year, take to the skies.
Canada's decision to open its borders also benefited Air Canada, which generated net cash of C$153 million ($123.34 million) in the third quarter, compared with its earlier expectation of a net cash burn between C$280 million and C$460 million.
"We are encouraged by the favourable revenue and traffic trends in the third quarter" Chief Executive Officer Michael Rousseau said in a statement.
Air Canada reported a loss of C$640 million, or C$1.79 per share in the quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier.
Operating Revenue rose to C$2.1 billion, from C$757 million, a year ago.
($1 = 1.2405 Canadian dollars)
(Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber)
((Nathan.Gomes@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details from the press statement Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. North American airlines have reported upbeat results this quarter as vaccinated travelers, who have not seen friends and family for over a year, take to the skies. "We are encouraged by the favourable revenue and traffic trends in the third quarter" Chief Executive Officer Michael Rousseau said in a statement. | Adds details from the press statement Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. North American airlines have reported upbeat results this quarter as vaccinated travelers, who have not seen friends and family for over a year, take to the skies. Canada's decision to open its borders also benefited Air Canada, which generated net cash of C$153 million ($123.34 million) in the third quarter, compared with its earlier expectation of a net cash burn between C$280 million and C$460 million. | Adds details from the press statement Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. North American airlines have reported upbeat results this quarter as vaccinated travelers, who have not seen friends and family for over a year, take to the skies. Canada's decision to open its borders also benefited Air Canada, which generated net cash of C$153 million ($123.34 million) in the third quarter, compared with its earlier expectation of a net cash burn between C$280 million and C$460 million. | Adds details from the press statement Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. North American airlines have reported upbeat results this quarter as vaccinated travelers, who have not seen friends and family for over a year, take to the skies. Canada's decision to open its borders also benefited Air Canada, which generated net cash of C$153 million ($123.34 million) in the third quarter, compared with its earlier expectation of a net cash burn between C$280 million and C$460 million. |
34935.0 | 2021-11-02 00:00:00 UTC | CANADA STOCKS-Toronto futures down tracking global mood ahead of Fed meeting | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-futures-down-tracking-global-mood-ahead-of-fed-meeting-2021-11-02 | nan | nan | Nov 2 (Reuters) - Futures for Canada's main stock index inched lower on Tuesday, mirroring the global mood, as investors focused on earnings and the U.S. Federal Reserve's two-day meeting on interest rates.
December futures on the S&P/TSX index SXFc1 were down 0.1% at 7:00 a.m. ET.
Global equities edged down on Tuesday as investors eyed the Fed's meeting for clues on tapering and rate decisions.
Meanwhile, subdued moves in both gold and oil prices further dented sentiment for resource stocks. O/RGOL/
Data for Canada's September building permits is due at 8:30 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1% higher at 21,247.01 on Monday. .TO
Dow e-minis 1YMcv1 remained unchanged at 7:00 a.m. ET, while S&P 500 e-minis EScv1 were down 1.5 points, or 0.03% and Nasdaq 100 e-minis NQcv1 were down 27 points, or 0.17%. .N
TOP STORY TOP/CAN
Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Cargojet Inc CJT.TO: RBC cuts target price to C$295 from C$300
Copperleaf Technologies CPLF.TO: Canaccord Genuity initiates coverage with "buy" rating
Metro Inc MRU.TO: National Bank of Canada raises target price to C$67 from C$65
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1793.5; -0.13% GOL/
US crude CLc1: $83.9; -0.18% O/R
Brent crude LCOc1: $84.67; -0.06% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.24)
(Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Cargojet Inc CJT.TO: RBC cuts target price to C$295 from C$300 Copperleaf Technologies CPLF.TO: Canaccord Genuity initiates coverage with "buy" rating Metro Inc MRU.TO: National Bank of Canada raises target price to C$67 from C$65 COMMODITIES AT 7:00 a.m. Nov 2 (Reuters) - Futures for Canada's main stock index inched lower on Tuesday, mirroring the global mood, as investors focused on earnings and the U.S. Federal Reserve's two-day meeting on interest rates. | Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Cargojet Inc CJT.TO: RBC cuts target price to C$295 from C$300 Copperleaf Technologies CPLF.TO: Canaccord Genuity initiates coverage with "buy" rating Metro Inc MRU.TO: National Bank of Canada raises target price to C$67 from C$65 COMMODITIES AT 7:00 a.m. Nov 2 (Reuters) - Futures for Canada's main stock index inched lower on Tuesday, mirroring the global mood, as investors focused on earnings and the U.S. Federal Reserve's two-day meeting on interest rates. | Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Cargojet Inc CJT.TO: RBC cuts target price to C$295 from C$300 Copperleaf Technologies CPLF.TO: Canaccord Genuity initiates coverage with "buy" rating Metro Inc MRU.TO: National Bank of Canada raises target price to C$67 from C$65 COMMODITIES AT 7:00 a.m. Nov 2 (Reuters) - Futures for Canada's main stock index inched lower on Tuesday, mirroring the global mood, as investors focused on earnings and the U.S. Federal Reserve's two-day meeting on interest rates. | Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Cargojet Inc CJT.TO: RBC cuts target price to C$295 from C$300 Copperleaf Technologies CPLF.TO: Canaccord Genuity initiates coverage with "buy" rating Metro Inc MRU.TO: National Bank of Canada raises target price to C$67 from C$65 COMMODITIES AT 7:00 a.m. Nov 2 (Reuters) - Futures for Canada's main stock index inched lower on Tuesday, mirroring the global mood, as investors focused on earnings and the U.S. Federal Reserve's two-day meeting on interest rates. |
34936.0 | 2021-11-02 00:00:00 UTC | Air Canada posts smaller third-quarter loss as travel demand improves | AC | https://www.nasdaq.com/articles/air-canada-posts-smaller-third-quarter-loss-as-travel-demand-improves-2021-11-02 | nan | nan | Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier.
Air Canada posted a loss of C$640 million, or C$1.79 per share, in the third quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber)
((Nathan.Gomes@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Air Canada posted a loss of C$640 million, or C$1.79 per share, in the third quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Air Canada posted a loss of C$640 million, or C$1.79 per share, in the third quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Air Canada posted a loss of C$640 million, or C$1.79 per share, in the third quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 2 (Reuters) - Air Canada AC.TO reported a smaller quarterly loss on Tuesday, as Canada's decision to open its borders to fully-vaccinated travelers and improving COVID-19 inoculation rates drove bookings at the country's largest carrier. Air Canada posted a loss of C$640 million, or C$1.79 per share, in the third quarter, compared with a loss of C$685 million, or C$2.31 per share, a year earlier. (Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh Kuber) ((Nathan.Gomes@thomsonreuters.com;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
34937.0 | 2021-11-01 00:00:00 UTC | Philippines' Mynt secures $300 million from Warburg Pincus, other investors | AC | https://www.nasdaq.com/articles/philippines-mynt-secures-%24300-million-from-warburg-pincus-other-investors-2021-11-02 | nan | nan | MANILA, Nov 2 (Reuters) - Philippines' Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion.
Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year.
The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK.
($1 = 50.55 Philippine pesos)
(Reporting by Neil Jerome Morales; Editing by Christian Schmollingr)
((neiljerome.morales@thomsonreuters.com; +632 8841 8914;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year. The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK. MANILA, Nov 2 (Reuters) - Philippines' Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion. | Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year. The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK. MANILA, Nov 2 (Reuters) - Philippines' Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion. | Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year. The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK. MANILA, Nov 2 (Reuters) - Philippines' Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion. | Mynt is the company behind Philippine mobile wallet GCash with 48 million users and projected 3 trillion pesos ($59 billion) in gross transaction value this year. The company is partly owned by Globe Telecom GLO.PS, Ayala Corp AC.PS, Bow Wave, and Ant Financial, the financial technology arm of Alibaba 9988.HK. MANILA, Nov 2 (Reuters) - Philippines' Mynt said on Tuesday it raised $300 million in capital from U.S. private equity firms Warburg Pincus and Insight Partners, valuing the financial technology firm at $2 billion. |
34938.0 | 2021-10-27 00:00:00 UTC | Australian border openings boost demand for flights | AC | https://www.nasdaq.com/articles/australian-border-openings-boost-demand-for-flights-2021-10-27 | nan | nan | Virgin Australia reports rise in domestic, international demand
International searches up 128% in last month - Skyscanner
Virgin Australia to fly to Fiji from Dec. 16
SYDNEY, Oct 27 (Reuters) - Australia's planned reopening of state and international borders has led to a surge in flight searches and bookings, Virgin Australia and travel website Skyscanner said on Wednesday.
Virgin Australia said demand for domestic flights leapt by 125% in the past four weeks. Demand for flights to New Zealand were up by nearly 100% and for the Indonesian island of Bali by 217%, though quarantines remain in place in those destinations.
Skyscanner said international flight search volumes from Australia had jumped 128% in the month since the government said fully vaccinated citizens and permanent residents would be able to leave the country without special permission from November.
Travellers returning to Sydney, Melbourne and Canberra will also no longer need to quarantine from Nov. 1.
Paul Whiteway, senior director for APAC at Skyscanner, said steps toward the travel opening for Australians had accelerated, with foreign airlines bringing forward flight schedules and more destinations opening to fully-vaccinated travellers.
Singapore said on Tuesday it would allow quarantine-free entry to travellers vaccinated against COVID-19 from Australia from Nov. 8.
"We've seen a steady increase in searches to Singapore as travellers were hoping for this latest exciting news," Whiteway said.
Virgin Australia said it planned to resume international services for the first time since the pandemic began with flights to Fiji on Dec. 16 as quarantine rules relax.
It will also renew frequent flyer partnerships with several international airlines that had been paused during the pandemic, when it went through a Chapter 11-like restructuring process and was bought by U.S. private equity group Bain Capital.
Qantas Airways Ltd QAN.AX, Air Canada AC.TO and Hawaiian Airlines HA.O have also announced plans to resume regular passenger flights to and from Australia.
Singapore Airlines Ltd SIAL.SI and Cathay Pacific Airways Ltd 0293.HK have opened seats for sale on flights to Sydney and Melbourne that had been used for cargo only or carried a small number of passengers due to previous caps.
(Reporting by Jamie Freed; Editing by Stephen Coates)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Skyscanner said international flight search volumes from Australia had jumped 128% in the month since the government said fully vaccinated citizens and permanent residents would be able to leave the country without special permission from November. Singapore Airlines Ltd SIAL.SI and Cathay Pacific Airways Ltd 0293.HK have opened seats for sale on flights to Sydney and Melbourne that had been used for cargo only or carried a small number of passengers due to previous caps. Demand for flights to New Zealand were up by nearly 100% and for the Indonesian island of Bali by 217%, though quarantines remain in place in those destinations. | Skyscanner said international flight search volumes from Australia had jumped 128% in the month since the government said fully vaccinated citizens and permanent residents would be able to leave the country without special permission from November. Demand for flights to New Zealand were up by nearly 100% and for the Indonesian island of Bali by 217%, though quarantines remain in place in those destinations. Paul Whiteway, senior director for APAC at Skyscanner, said steps toward the travel opening for Australians had accelerated, with foreign airlines bringing forward flight schedules and more destinations opening to fully-vaccinated travellers. | Paul Whiteway, senior director for APAC at Skyscanner, said steps toward the travel opening for Australians had accelerated, with foreign airlines bringing forward flight schedules and more destinations opening to fully-vaccinated travellers. Demand for flights to New Zealand were up by nearly 100% and for the Indonesian island of Bali by 217%, though quarantines remain in place in those destinations. Skyscanner said international flight search volumes from Australia had jumped 128% in the month since the government said fully vaccinated citizens and permanent residents would be able to leave the country without special permission from November. | Demand for flights to New Zealand were up by nearly 100% and for the Indonesian island of Bali by 217%, though quarantines remain in place in those destinations. Singapore Airlines Ltd SIAL.SI and Cathay Pacific Airways Ltd 0293.HK have opened seats for sale on flights to Sydney and Melbourne that had been used for cargo only or carried a small number of passengers due to previous caps. Skyscanner said international flight search volumes from Australia had jumped 128% in the month since the government said fully vaccinated citizens and permanent residents would be able to leave the country without special permission from November. |
34939.0 | 2021-10-25 00:00:00 UTC | After-Hours Earnings Report for October 25, 2021 : FB, CDNS, ARE, SUI, BRO, LOGI, CCK, PKG, UHS, AGNC, AXTA, ACC | AC | https://www.nasdaq.com/articles/after-hours-earnings-report-for-october-25-2021-%3A-fb-cdns-are-sui-bro-logi-cck-pkg-uhs | nan | nan | The following companies are expected to report earnings after hours on 10/25/2021. Visit our Earnings Calendar for a full list of expected earnings releases.
Facebook, Inc. (FB)is reporting for the quarter ending September 30, 2021. The internet services company's consensus earnings per share forecast from the 13 analysts that follow the stock is $3.20. This value represents a 18.08% increase compared to the same quarter last year. In the past year FB has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 19.14%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for FB is 22.92 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Cadence Design Systems, Inc. (CDNS)is reporting for the quarter ending September 30, 2021. The computer software company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.58. This value represents a no change for the same quarter last year. In the past year CDNS has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 20.34%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for CDNS is 66.17 vs. an industry ratio of 54.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Alexandria Real Estate Equities, Inc. (ARE)is reporting for the quarter ending September 30, 2021. The reit company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.94. This value represents a 6.01% increase compared to the same quarter last year. In the past year ARE has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2021 Price to Earnings ratio for ARE is 26.77 vs. an industry ratio of 22.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Sun Communities, Inc. (SUI)is reporting for the quarter ending September 30, 2021. The reit company's consensus earnings per share forecast from the 1 analyst that follows the stock is $2.00. This value represents a 25.00% increase compared to the same quarter last year. In the past year SUI has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 10.43%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for SUI is 32.37 vs. an industry ratio of 25.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Brown & Brown, Inc. (BRO)is reporting for the quarter ending September 30, 2021. The insurance brokers company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.52. This value represents a no change for the same quarter last year. In the past year BRO has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 22.5%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for BRO is 31.97 vs. an industry ratio of 26.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Logitech International S.A. (LOGI)is reporting for the quarter ending September 30, 2021. The computer paraphernalia company's consensus earnings per share forecast from the 1 analyst that follows the stock is $1.14. This value represents a 34.86% decrease compared to the same quarter last year. In the past year LOGI has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 64.71%. The "days to cover" for this stock exceeds 10 days. Zacks Investment Research reports that the 2022 Price to Earnings ratio for LOGI is 19.80 vs. an industry ratio of 440.40.
Crown Holdings, Inc. (CCK)is reporting for the quarter ending September 30, 2021. The containers company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.99. This value represents a 1.53% increase compared to the same quarter last year. In the past year CCK has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 18.89%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for CCK is 14.06 vs. an industry ratio of 16.10.
Packaging Corporation of America (PKG)is reporting for the quarter ending September 30, 2021. The construction company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.36. This value represents a 50.32% increase compared to the same quarter last year. PKG missed the consensus earnings per share in the 4th calendar quarter of 2020 by -6.34%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for PKG is 15.86 vs. an industry ratio of 23.00.
Universal Health Services, Inc. (UHS)is reporting for the quarter ending September 30, 2021. The hospital company's consensus earnings per share forecast from the 5 analysts that follow the stock is $2.79. This value represents a 3.13% decrease compared to the same quarter last year. In the past year UHS has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 36.73%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for UHS is 11.29 vs. an industry ratio of 14.80.
AGNC Investment Corp. (AGNC)is reporting for the quarter ending September 30, 2021. The reit company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.63. This value represents a 22.22% decrease compared to the same quarter last year. In the past year AGNC has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 18.75%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for AGNC is 5.95 vs. an industry ratio of 9.90.
Axalta Coating Systems Ltd. (AXTA)is reporting for the quarter ending September 30, 2021. The chemical company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.33. This value represents a 44.07% decrease compared to the same quarter last year. In the past year AXTA has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 4.35%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for AXTA is 18.06 vs. an industry ratio of 57.00.
American Campus Communities Inc (ACC)is reporting for the quarter ending September 30, 2021. The reit company's consensus earnings per share forecast from the 6 analysts that follow the stock is $0.37. This value represents a 15.63% increase compared to the same quarter last year. In the past year ACC has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 13.51%. Zacks Investment Research reports that the 2021 Price to Earnings ratio for ACC is 24.65 vs. an industry ratio of 25.10.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Facebook, Inc. (FB)is reporting for the quarter ending September 30, 2021. Zacks Investment Research reports that the 2021 Price to Earnings ratio for FB is 22.92 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for CDNS is 66.17 vs. an industry ratio of 54.90, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for FB is 22.92 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for CDNS is 66.17 vs. an industry ratio of 54.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for SUI is 32.37 vs. an industry ratio of 25.10, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2021 Price to Earnings ratio for FB is 22.92 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for SUI is 32.37 vs. an industry ratio of 25.10, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for BRO is 31.97 vs. an industry ratio of 26.30, implying that they will have a higher earnings growth than their competitors in the same industry. | Facebook, Inc. (FB)is reporting for the quarter ending September 30, 2021. Zacks Investment Research reports that the 2021 Price to Earnings ratio for FB is 22.92 vs. an industry ratio of -15.90, implying that they will have a higher earnings growth than their competitors in the same industry. Zacks Investment Research reports that the 2021 Price to Earnings ratio for CDNS is 66.17 vs. an industry ratio of 54.90, implying that they will have a higher earnings growth than their competitors in the same industry. |
34940.0 | 2021-10-12 00:00:00 UTC | CANADA STOCKS-Toronto futures slip as inflation worries weigh | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-futures-slip-as-inflation-worries-weigh-2021-10-12 | nan | nan | Oct 12 (Reuters) - Futures for Canada's main stock index edged lower on Tuesday as global equities reeled on worries that surging energy prices would fuel inflation and force the U.S. Federal Reserve to raise rates.
December futures on the S&P/TSX index SXFc1 were down 0.05% at 7:00 a.m. ET.
Concerns that higher inflation could prompt a sooner-than-expected dial down of economic stimulus by central banks and a slowdown in global economic recovery have rattled investors appetite for risky assets.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was closed on Monday for the Thanksgiving Day holiday after closing 1.1% higher at 20,416.3 on Friday, its highest closing level since Sept. 27. .TO
Dow e-minis 1YMcv1 were down 12 points, or 0.03% at 7:01 a.m. ET, while S&P 500 e-minis EScv1 were up 1.25 points, or 0.03% and Nasdaq 100 e-minis NQcv1 were up 31.75 points, or 0.22%. .N
TOP STORIES TOP/CAN
The Dutch owner of bike brands including Gazelle, Santa Cruz and Urban Arrow said on Monday it has agreed to buy brands including Cannondale, Schwinn and Mongoose from owner Dorel Industries Inc. DIIb.TO for $810 million, creating one of the largest bike makers globally with $2.5 billion in estimated annual sales.
Canada's Rock Tech Lithium RCK.V plans to build a converter plant in Brandenburg, the German state surrounding Berlin, to make battery-grade lithium hydroxide for electric vehicles, the state's energy ministry and the company said on Monday.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: Raymond James cuts target price to C$30 from C$35
Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$55 from C$60
Shawcor Ltd SCL.TO: ATB Capital Markets cuts to "sector perform" from "outperform"
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,127.7; -+1.0% GOL/
US crude CLc1: $46.39; -+0.64% O/R
Brent crude LCOc1: $49.85; -+0.6% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
1000 JOLTS job openings for Aug : Expected 10.925 mln; Prior 10.934 mln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.25)
(Reporting by Amal S in Bengaluru; Editing by Anil D'Silva)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada AC.TO: Raymond James cuts target price to C$30 from C$35 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$55 from C$60 Shawcor Ltd SCL.TO: ATB Capital Markets cuts to "sector perform" from "outperform" COMMODITIES AT 7:00 a.m. Oct 12 (Reuters) - Futures for Canada's main stock index edged lower on Tuesday as global equities reeled on worries that surging energy prices would fuel inflation and force the U.S. Federal Reserve to raise rates. The Dutch owner of bike brands including Gazelle, Santa Cruz and Urban Arrow said on Monday it has agreed to buy brands including Cannondale, Schwinn and Mongoose from owner Dorel Industries Inc. DIIb.TO for $810 million, creating one of the largest bike makers globally with $2.5 billion in estimated annual sales. | Air Canada AC.TO: Raymond James cuts target price to C$30 from C$35 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$55 from C$60 Shawcor Ltd SCL.TO: ATB Capital Markets cuts to "sector perform" from "outperform" COMMODITIES AT 7:00 a.m. Oct 12 (Reuters) - Futures for Canada's main stock index edged lower on Tuesday as global equities reeled on worries that surging energy prices would fuel inflation and force the U.S. Federal Reserve to raise rates. The Dutch owner of bike brands including Gazelle, Santa Cruz and Urban Arrow said on Monday it has agreed to buy brands including Cannondale, Schwinn and Mongoose from owner Dorel Industries Inc. DIIb.TO for $810 million, creating one of the largest bike makers globally with $2.5 billion in estimated annual sales. | Air Canada AC.TO: Raymond James cuts target price to C$30 from C$35 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$55 from C$60 Shawcor Ltd SCL.TO: ATB Capital Markets cuts to "sector perform" from "outperform" COMMODITIES AT 7:00 a.m. Oct 12 (Reuters) - Futures for Canada's main stock index edged lower on Tuesday as global equities reeled on worries that surging energy prices would fuel inflation and force the U.S. Federal Reserve to raise rates. ET, while S&P 500 e-minis EScv1 were up 1.25 points, or 0.03% and Nasdaq 100 e-minis NQcv1 were up 31.75 points, or 0.22%. | Air Canada AC.TO: Raymond James cuts target price to C$30 from C$35 Dye & Durham Ltd DND.TO: Canaccord Genuity cuts target price to C$55 from C$60 Shawcor Ltd SCL.TO: ATB Capital Markets cuts to "sector perform" from "outperform" COMMODITIES AT 7:00 a.m. Oct 12 (Reuters) - Futures for Canada's main stock index edged lower on Tuesday as global equities reeled on worries that surging energy prices would fuel inflation and force the U.S. Federal Reserve to raise rates. December futures on the S&P/TSX index SXFc1 were down 0.05% at 7:00 a.m. |
34941.0 | 2021-10-06 00:00:00 UTC | Canada to put federal workers who refuse COVID-19 vaccination on unpaid leave | AC | https://www.nasdaq.com/articles/canada-to-put-federal-workers-who-refuse-covid-19-vaccination-on-unpaid-leave-2021-10-06 | nan | nan | By Steve Scherer
OTTAWA, Oct 6 (Reuters) - Canada's federal employees who are not fully vaccinated against COVID-19 and are not exempt from getting the shots will be put on administrative leave without pay, officials said on Wednesday, while domestic air, train and cruise ship travelers and workers will soon have to show proof of vaccination.
Federal employees will be required to show proof of vaccination through an online portal by Oct 29. Workers and travelers on trains, planes and cruise ships operating domestically must show they have been inoculated by Oct. 30.
The introduction of these vaccine mandates was a cornerstone pledge by Liberal Prime Minister Justin Trudeau during his campaign for re-election. The Liberals returned to power in a closely contested election last month, but fell short of winning a majority.
Canada's vaccine policy will be one of the strictest in the world.
Fiji in August forced public servants to go on leave if unvaccinated. If still not inoculated by November, they will lose their jobs. Later this month, Italy will require proof of vaccination, a negative test or recent recovery from infection for all the country's workers.
Canada's vaccine mandate for federal workers, first promised on Aug 13, will be reassessed every six months and stay in place until the policy is no longer required, one official said.
For travelers, a negative COVID-19 test will not be accepted as a replacement for proof of vaccination after Nov. 30, officials said. Children under 12, who are not yet eligible for vaccination in Canada will be exempted from the travel mandate.
Last week, Trudeau said he would introduce his new Cabinet this month, and lawmakers would be back in parliament this fall.
(Reporting by Steve Scherer in Ottawa, Additional reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty and Bill Berkrot)
((ankur.banerjee@thomsonreuters.com;; Mobile - +919008417318; Twitter: @AnkurBanerjee17;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The introduction of these vaccine mandates was a cornerstone pledge by Liberal Prime Minister Justin Trudeau during his campaign for re-election. Later this month, Italy will require proof of vaccination, a negative test or recent recovery from infection for all the country's workers. Canada's vaccine mandate for federal workers, first promised on Aug 13, will be reassessed every six months and stay in place until the policy is no longer required, one official said. | By Steve Scherer OTTAWA, Oct 6 (Reuters) - Canada's federal employees who are not fully vaccinated against COVID-19 and are not exempt from getting the shots will be put on administrative leave without pay, officials said on Wednesday, while domestic air, train and cruise ship travelers and workers will soon have to show proof of vaccination. Canada's vaccine mandate for federal workers, first promised on Aug 13, will be reassessed every six months and stay in place until the policy is no longer required, one official said. Federal employees will be required to show proof of vaccination through an online portal by Oct 29. | By Steve Scherer OTTAWA, Oct 6 (Reuters) - Canada's federal employees who are not fully vaccinated against COVID-19 and are not exempt from getting the shots will be put on administrative leave without pay, officials said on Wednesday, while domestic air, train and cruise ship travelers and workers will soon have to show proof of vaccination. Later this month, Italy will require proof of vaccination, a negative test or recent recovery from infection for all the country's workers. Canada's vaccine mandate for federal workers, first promised on Aug 13, will be reassessed every six months and stay in place until the policy is no longer required, one official said. | By Steve Scherer OTTAWA, Oct 6 (Reuters) - Canada's federal employees who are not fully vaccinated against COVID-19 and are not exempt from getting the shots will be put on administrative leave without pay, officials said on Wednesday, while domestic air, train and cruise ship travelers and workers will soon have to show proof of vaccination. Canada's vaccine mandate for federal workers, first promised on Aug 13, will be reassessed every six months and stay in place until the policy is no longer required, one official said. Federal employees will be required to show proof of vaccination through an online portal by Oct 29. |
34942.0 | 2021-10-05 00:00:00 UTC | CANADA STOCKS-Toronto futures rebound as oil holds near 3-year highs | AC | https://www.nasdaq.com/articles/canada-stocks-toronto-futures-rebound-as-oil-holds-near-3-year-highs-2021-10-05 | nan | nan | Oct 5 (Reuters) - Futures for Canada's main stock index rebounded on Tuesday, a day after the benchmark index hit a 2-1/2-month low, as oil prices stayed near their highest levels in at least three years.
December futures on the S&P/TSX index SXFc1 were up 0.4% at 7:00 a.m. ET.
Brent crude oil futures stuck near three-year highs, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ supplier group decided to stick to a gradual output increase plan rather than fully opening the taps.
Data for Canada's August trade balance is due at 08:30 a.m. ET, while reserve assets data for September is due at 08:15 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.5% lower at 20,052.25 on Monday, its lowest closing level since July 20. .TO
Global investors remained cautious, fearing that rising energy prices and supply chain bottlenecks could affect the economic recovery just as the U.S. Federal Reserve gets closer to tapering its massive pandemic-era stimulus.
Dow e-minis 1YMcv1 were up 100 points, or 0.3%, at 7:01 a.m. ET, while S&P 500 e-minis EScv1 were up 12.25 points, or 0.29%, and Nasdaq 100 e-minis NQcv1 were up 43 points, or 0.3%. .N
TOP STORIES TOP/CAN
Canada on Monday invoked a 1977 treaty with the United States to trigger bilateral negotiations over Enbridge Inc's ENB.TO Line 5, escalating a long-running dispute over one of Canada's major oil export pipelines.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: RBC cuts to "sector perform" from "outperform"
Altus Group Ltd AIF.TO: TD Securities resumes coverage with "buy" rating
Boat Rocker Media Inc BRMI.TO: Canaccord Genuity initiates coverage with "buy" rating
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1755.1; -0.67% GOL/
US crude CLc1: $78.02; +0.5% O/R
Brent crude LCOc1: $81.8; +0.66% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 International trade for Aug: Expected -$70.5 bln; Prior -$70.1 bln
0830 Goods trade balance (R) for Aug : Prior -87.60 bln
0945 Markit Composite Final PMI for Sep : Prior 54.5
0945 Markit Services PMI Final for Sep : Prior 54.4
1000 ISM N-Manufacturing PMI for Sep : Expected 60.0; Prior 61.7
1000 ISM N-Manufacturing Business Activity for Sep : Expected 59.5; Prior 60.1
1000 ISM N-Manufacturing Employment Index for Sep : Prior 53.7
1000 ISM N-Manufacturing New Orders Index for Sep : Prior 63.2
1000 ISM N-Manufacturing Price Paid Index for Sep : Prior 75.4
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.26)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada AC.TO: RBC cuts to "sector perform" from "outperform" Altus Group Ltd AIF.TO: TD Securities resumes coverage with "buy" rating Boat Rocker Media Inc BRMI.TO: Canaccord Genuity initiates coverage with "buy" rating COMMODITIES AT 7:00 a.m. 0830 International trade for Aug: Expected -$70.5 bln; Prior -$70.1 bln 0830 Goods trade balance (R) for Aug : Prior -87.60 bln 0945 Markit Composite Final PMI for Sep : Prior 54.5 0945 Markit Services PMI Final for Sep : Prior 54.4 1000 ISM N-Manufacturing PMI for Sep : Expected 60.0; Prior 61.7 1000 ISM N-Manufacturing Business Activity for Sep : Expected 59.5; Prior 60.1 1000 ISM N-Manufacturing Employment Index for Sep : Prior 53.7 1000 ISM N-Manufacturing New Orders Index for Sep : Prior 63.2 1000 ISM N-Manufacturing Price Paid Index for Sep : Prior 75.4 The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.5% lower at 20,052.25 on Monday, its lowest closing level since July 20. | 0830 International trade for Aug: Expected -$70.5 bln; Prior -$70.1 bln 0830 Goods trade balance (R) for Aug : Prior -87.60 bln 0945 Markit Composite Final PMI for Sep : Prior 54.5 0945 Markit Services PMI Final for Sep : Prior 54.4 1000 ISM N-Manufacturing PMI for Sep : Expected 60.0; Prior 61.7 1000 ISM N-Manufacturing Business Activity for Sep : Expected 59.5; Prior 60.1 1000 ISM N-Manufacturing Employment Index for Sep : Prior 53.7 1000 ISM N-Manufacturing New Orders Index for Sep : Prior 63.2 1000 ISM N-Manufacturing Price Paid Index for Sep : Prior 75.4 Air Canada AC.TO: RBC cuts to "sector perform" from "outperform" Altus Group Ltd AIF.TO: TD Securities resumes coverage with "buy" rating Boat Rocker Media Inc BRMI.TO: Canaccord Genuity initiates coverage with "buy" rating COMMODITIES AT 7:00 a.m. Brent crude oil futures stuck near three-year highs, with U.S. benchmark crude close to 2014 peaks, after the OPEC+ supplier group decided to stick to a gradual output increase plan rather than fully opening the taps. | 0830 International trade for Aug: Expected -$70.5 bln; Prior -$70.1 bln 0830 Goods trade balance (R) for Aug : Prior -87.60 bln 0945 Markit Composite Final PMI for Sep : Prior 54.5 0945 Markit Services PMI Final for Sep : Prior 54.4 1000 ISM N-Manufacturing PMI for Sep : Expected 60.0; Prior 61.7 1000 ISM N-Manufacturing Business Activity for Sep : Expected 59.5; Prior 60.1 1000 ISM N-Manufacturing Employment Index for Sep : Prior 53.7 1000 ISM N-Manufacturing New Orders Index for Sep : Prior 63.2 1000 ISM N-Manufacturing Price Paid Index for Sep : Prior 75.4 Air Canada AC.TO: RBC cuts to "sector perform" from "outperform" Altus Group Ltd AIF.TO: TD Securities resumes coverage with "buy" rating Boat Rocker Media Inc BRMI.TO: Canaccord Genuity initiates coverage with "buy" rating COMMODITIES AT 7:00 a.m. Oct 5 (Reuters) - Futures for Canada's main stock index rebounded on Tuesday, a day after the benchmark index hit a 2-1/2-month low, as oil prices stayed near their highest levels in at least three years. | Air Canada AC.TO: RBC cuts to "sector perform" from "outperform" Altus Group Ltd AIF.TO: TD Securities resumes coverage with "buy" rating Boat Rocker Media Inc BRMI.TO: Canaccord Genuity initiates coverage with "buy" rating COMMODITIES AT 7:00 a.m. 0830 International trade for Aug: Expected -$70.5 bln; Prior -$70.1 bln 0830 Goods trade balance (R) for Aug : Prior -87.60 bln 0945 Markit Composite Final PMI for Sep : Prior 54.5 0945 Markit Services PMI Final for Sep : Prior 54.4 1000 ISM N-Manufacturing PMI for Sep : Expected 60.0; Prior 61.7 1000 ISM N-Manufacturing Business Activity for Sep : Expected 59.5; Prior 60.1 1000 ISM N-Manufacturing Employment Index for Sep : Prior 53.7 1000 ISM N-Manufacturing New Orders Index for Sep : Prior 63.2 1000 ISM N-Manufacturing Price Paid Index for Sep : Prior 75.4 Oct 5 (Reuters) - Futures for Canada's main stock index rebounded on Tuesday, a day after the benchmark index hit a 2-1/2-month low, as oil prices stayed near their highest levels in at least three years. |
34943.0 | 2021-09-27 00:00:00 UTC | EXCLUSIVE-Canada to lure U.S. frequent flyers by matching travel perks on Air Canada | AC | https://www.nasdaq.com/articles/exclusive-canada-to-lure-u.s.-frequent-flyers-by-matching-travel-perks-on-air-canada-2021 | nan | nan | By Allison Lampert
MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters.
COVID-19 has battered travel from Canada's largest tourism market. During the first half of 2021, Canada had about 178,000 overnight arrivals from the United States, compared with 6.8 million during the same period in 2019, according to government data.
To help reverse that decline, government tourism body, Destination Canada will, roll out on Monday its first campaign targeting U.S. frequent fliers.
It is part of broader, C$14 million ($11.2 million) efforts by the tourism commission to boost traffic after Canada recently opened its borders to vaccinated travellers. It is not clear how much the specific frequent flyer campaign will cost.
"This is super-focused in terms of our ability to reach frequent fliers," said Gloria Loree, Destination Canada's chief marketing officer ahead of the launch.
Under the plan, up to 20,000 U.S. frequent flyers with carriers like American Airlines AAL.O, Southwest Airlines Co LUV.N, and Delta Air Lines DAL.N could get matching status when flying Air Canada north of the border.
It is not clear how U.S. carriers would react to the plan, although Loree said the possibility of airline retaliation had been considered.
Frequent-flyer status gives travelers perks like priority boarding that would normally cost a premium fare or a fee.
While global airline alliances offer status-matching to passengers from their member carriers, having a destination sponsor such a plan is highly unusual, said Mark-Ross Smith, chief executive of Status Match, which handles logistics for the Canadian project.
"This is the push to get them coming to Canada."
Eligible U.S. frequent flyers who book and travel north on AC before Jan. 15, 2022 will keep their status with the carrier for all of 2022, she said.
It comes as countries ease restrictions on international travel, with the United States set to reopen in November to vaccinated air travelers from 33 countries.
She argued boosting cross-border travel will help both countries.
Loree said funding frequent-flyer status matching is no different from other incentives paid for by Destination Canada, such as a separate campaign this year with Air Canada's rival WestJet Airlines.
Loree said the goal is to restore routes from the United States, while trying to attract travelers who will return to Canada.
In April, hard-hit Air Canada received an estimated C$5.9 billion government aid package with the country gaining a roughly 6% stake in the carrier.
While Canada's high vaccination rate could lure tourists, the cost of the country's PCR test requirements for arrivals could dissuade some travelers, said Frederic Dimanche, director of the Ted Rogers School of Hospitality and Tourism Management at Ryerson University.
Loree said targeting U.S. frequent fliers is a plus because they are largely accustomed to those requirements.
"They've figured out how to travel," Loree said. "So we want them to consider Canada as their next trip."
($1 = 1.2652 Canadian dollars)
(Reporting By Allison Lampert in Montreal Editing by Denny Thomas and Lisa Shumaker)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In April, hard-hit Air Canada received an estimated C$5.9 billion government aid package with the country gaining a roughly 6% stake in the carrier. While Canada's high vaccination rate could lure tourists, the cost of the country's PCR test requirements for arrivals could dissuade some travelers, said Frederic Dimanche, director of the Ted Rogers School of Hospitality and Tourism Management at Ryerson University. By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. | By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. "This is super-focused in terms of our ability to reach frequent fliers," said Gloria Loree, Destination Canada's chief marketing officer ahead of the launch. During the first half of 2021, Canada had about 178,000 overnight arrivals from the United States, compared with 6.8 million during the same period in 2019, according to government data. | By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. During the first half of 2021, Canada had about 178,000 overnight arrivals from the United States, compared with 6.8 million during the same period in 2019, according to government data. It is part of broader, C$14 million ($11.2 million) efforts by the tourism commission to boost traffic after Canada recently opened its borders to vaccinated travellers. | Loree said the goal is to restore routes from the United States, while trying to attract travelers who will return to Canada. By Allison Lampert MONTREAL, Sept 27 (Reuters) - Canada is trying to use the lure of travel perks to convince America's frequent flying elite to fly north on Air Canada AC.TO, as the country steps up efforts to revive crucial traffic from the United States, a Canadian official told Reuters. During the first half of 2021, Canada had about 178,000 overnight arrivals from the United States, compared with 6.8 million during the same period in 2019, according to government data. |
34944.0 | 2021-09-09 00:00:00 UTC | U.S. probing 18 airlines over delayed refund complaints | AC | https://www.nasdaq.com/articles/u.s.-probing-18-airlines-over-delayed-refund-complaints-2021-09-09 | nan | nan | By David Shepardson
WASHINGTON, Sept 9 (Reuters) - The U.S. Transportation Department said on Thursday it has 18 pending investigations against airlines over complaints that they failed to provide timely refunds during the COVID-19 pandemic.
The department said in a report to the White House it was still reviewing 30,100 complaints involving 18 airlines out of 20 investigations it had initially opened. It did not name the airlines.
"The department has devoted considerable time, energy, and effort to securing relief for consumers and holding airlines accountable," it said in the report.
The department noted it had concluded investigations into complaints involving Air Canada AC.TO and United Airlines UAL.O.
In June, the department said it was seeking a $25.5 million fine from Air Canada over the carrier's failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States.
Air Canada has urged the department to dismiss the complaint saying the department's "arbitrary conduct flatly contradicts years of well-established law."
The department said on Thursday that settlement negotiations with Air Canada "are continuing." Air Canada did not immediately comment.
In June, the Transportation Department said it was investigating the refund practices of an undisclosed number of U.S. and foreign carriers flying to and from the United States and would take "enforcement action" as appropriate.
The department said Thursday it is separately examining four foreign carriers that filed for bankruptcy protection and "exploring options on how passengers who did not receive refunds when the carriers canceled their flights may be compensated."
In January, the department ended its probe into United after the carrier "took prompt corrective actions, resulting in thousands of passengers who had initially been denied refunds receiving the required refunds in or around June 2020."
The Transportation Department is working to increase the number of staff handling consumer complaints by 38%.
The department said it plans to issue rules on refunds for consumers who are unable to travel due to government restrictions. Existing regulations do not address refund eligibility under special circumstances, such as government-imposed travel restrictions.
It also said at least 9 airlines that initially provided vouchers or credits instead of refunds for non-refundable tickets changed policies to make clear passengers are entitled to refunds under such circumstances and provided refunds as required.
(Reporting by David Shepardson; editing by Richard Pullin)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In June, the Transportation Department said it was investigating the refund practices of an undisclosed number of U.S. and foreign carriers flying to and from the United States and would take "enforcement action" as appropriate. "The department has devoted considerable time, energy, and effort to securing relief for consumers and holding airlines accountable," it said in the report. The department noted it had concluded investigations into complaints involving Air Canada AC.TO and United Airlines UAL.O. | The department noted it had concluded investigations into complaints involving Air Canada AC.TO and United Airlines UAL.O. In January, the department ended its probe into United after the carrier "took prompt corrective actions, resulting in thousands of passengers who had initially been denied refunds receiving the required refunds in or around June 2020." "The department has devoted considerable time, energy, and effort to securing relief for consumers and holding airlines accountable," it said in the report. | In January, the department ended its probe into United after the carrier "took prompt corrective actions, resulting in thousands of passengers who had initially been denied refunds receiving the required refunds in or around June 2020." "The department has devoted considerable time, energy, and effort to securing relief for consumers and holding airlines accountable," it said in the report. The department noted it had concluded investigations into complaints involving Air Canada AC.TO and United Airlines UAL.O. | The department noted it had concluded investigations into complaints involving Air Canada AC.TO and United Airlines UAL.O. In June, the Transportation Department said it was investigating the refund practices of an undisclosed number of U.S. and foreign carriers flying to and from the United States and would take "enforcement action" as appropriate. "The department has devoted considerable time, energy, and effort to securing relief for consumers and holding airlines accountable," it said in the report. |
34945.0 | 2021-08-25 00:00:00 UTC | More Canadian businesses will embrace vaccine mandates for workers - minister | AC | https://www.nasdaq.com/articles/more-canadian-businesses-will-embrace-vaccine-mandates-for-workers-minister-2021-08-25-0 | nan | nan | By Steve Scherer
ST. JOHN'S, Newfoundland, Aug 25 (Reuters) - More Canadian businesses will introduce COVID-19 vaccine mandates for their employees to safely return to the office amidst a growing fourth wave, the minister in charge of procuring inoculations said in an interview.
Canada's five biggest banks last week said they would require employees working from their offices to be fully inoculated and some large Canadian businesses, including Shopify Inc SHOP.TO and Sun Life Financial SLF.TO, have done the same.
Though hospitals, some universities and even the Toronto police force are introducing mandates, many other companies have so far held off, or are not planning on requiring vaccinations, citing concerns over legal challenges.
Anita Anand, who Liberal Prime Minister Justin Trudeau calls his "minister of vaccines", predicts more mandates are coming and said, in the end, the courts will rule that the pandemic was "a justifiable reason" for imposing them.
"This is just the beginning of what we are going to see going forward with large and small companies who want to get back to business as usual," Anand said in an interview after accompanying Trudeau to a rally in Newfoundland late Monday.
"We are going to see... public organizations and companies, private companies, pension funds and other organizations, including nonprofits, going forward with some sort of mandatory vaccination policy."
Despite 74% of Canadian residents getting at least one dose of a vaccine, cases have surged over the past three weeks due to the highly contagious Delta variant, according to a Reuters tally.
Two days before calling a snap Sept. 20 vote, Trudeau mandated vaccinations for federal employees and domestic air and train travelers, thrusting the issue to the forefront of his election bid.
There has been pushback. The largest union representing federal workers said the move should not be punitive and that accommodations like regular testing should be made, and Conservative Party leader Erin O'Toole has advocated for a similar compromise.
The Toronto Police Association, a union representing 8,000 uniformed and civilian members of the police service, said it disagreed with the mandate.
But more than 80% of Canadians said they supported Trudeau's vaccine mandates and would back them for healthcare workers and teachers as well, according to an Ipsos poll published on Aug. 19. Some 72% support vaccine passports for restaurants, gyms and other indoor spaces, a policy adopted in Quebec.
BLUE JAYS, PENSION FUNDS
On Wednesday, the Toronto Blue Jays said they would require fans to be fully vaccinated or have a recent negative test to attend games at the ballpark from Sept. 13.
Also on Wednesday, Air Canada said all employees - and not just those already subject to the travel mandate - must be vaccinated by Oct. 30 or their jobs could be terminated.
Several pension funds contacted by Reuters said they were still mulling what measures to take to bring people back to their offices, including the Public Sector Pension Investment Board (PSP), Alberta Investment Management Corporation, British Columbia Investment Management Corporation, and OPTrust.
But Caisse de dépôt et placement du Québec (CDPQ), the country's second biggest pension fund, ruled out a mandate.
"We strongly and openly encourage our employees to get vaccinated, but we can't force them, legally, to do so - or even ask them for that matter, whether they will get vaccinated or if they are," said a spokesman for Caisse de dépôt et placement du Québec (CDPQ).
Anand, who was a professor of corporate and securities law at the University of Toronto for 25 years before entering politics, said the safety of the workforce would ultimately outweigh concerns over individual privacy rights.
"This is one sort of instance where the safety of the collectivity, and the society at large, is so important... courts are going to see this as being a justifiable reason to collect data."
Canada's Big Five banks to require staff entering premises to be vaccinated
In Canada's pandemic election, unvaccinated candidates are knocking on doors
GRAPHIC-COVID-19 global trackerhttps://tmsnrt.rs/34pvUyi
GRAPHIC-COVID-19 vaccine global trackerhttps://tmsnrt.rs/3tUM8ta
(Reporting by Steve Scherer, additional reporting by Maiya Keidan; Editing by Lisa Shumaker)
((steve.scherer@thomsonreuters.com; +1-647-480-7889;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Steve Scherer ST. JOHN'S, Newfoundland, Aug 25 (Reuters) - More Canadian businesses will introduce COVID-19 vaccine mandates for their employees to safely return to the office amidst a growing fourth wave, the minister in charge of procuring inoculations said in an interview. The largest union representing federal workers said the move should not be punitive and that accommodations like regular testing should be made, and Conservative Party leader Erin O'Toole has advocated for a similar compromise. Though hospitals, some universities and even the Toronto police force are introducing mandates, many other companies have so far held off, or are not planning on requiring vaccinations, citing concerns over legal challenges. | Several pension funds contacted by Reuters said they were still mulling what measures to take to bring people back to their offices, including the Public Sector Pension Investment Board (PSP), Alberta Investment Management Corporation, British Columbia Investment Management Corporation, and OPTrust. But Caisse de dépôt et placement du Québec (CDPQ), the country's second biggest pension fund, ruled out a mandate. Canada's Big Five banks to require staff entering premises to be vaccinated In Canada's pandemic election, unvaccinated candidates are knocking on doors GRAPHIC-COVID-19 global trackerhttps://tmsnrt.rs/34pvUyi GRAPHIC-COVID-19 vaccine global trackerhttps://tmsnrt.rs/3tUM8ta (Reporting by Steve Scherer, additional reporting by Maiya Keidan; Editing by Lisa Shumaker) ((steve.scherer@thomsonreuters.com; +1-647-480-7889;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Steve Scherer ST. JOHN'S, Newfoundland, Aug 25 (Reuters) - More Canadian businesses will introduce COVID-19 vaccine mandates for their employees to safely return to the office amidst a growing fourth wave, the minister in charge of procuring inoculations said in an interview. "We strongly and openly encourage our employees to get vaccinated, but we can't force them, legally, to do so - or even ask them for that matter, whether they will get vaccinated or if they are," said a spokesman for Caisse de dépôt et placement du Québec (CDPQ). Canada's Big Five banks to require staff entering premises to be vaccinated In Canada's pandemic election, unvaccinated candidates are knocking on doors GRAPHIC-COVID-19 global trackerhttps://tmsnrt.rs/34pvUyi GRAPHIC-COVID-19 vaccine global trackerhttps://tmsnrt.rs/3tUM8ta (Reporting by Steve Scherer, additional reporting by Maiya Keidan; Editing by Lisa Shumaker) ((steve.scherer@thomsonreuters.com; +1-647-480-7889;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Steve Scherer ST. JOHN'S, Newfoundland, Aug 25 (Reuters) - More Canadian businesses will introduce COVID-19 vaccine mandates for their employees to safely return to the office amidst a growing fourth wave, the minister in charge of procuring inoculations said in an interview. Though hospitals, some universities and even the Toronto police force are introducing mandates, many other companies have so far held off, or are not planning on requiring vaccinations, citing concerns over legal challenges. "We are going to see... public organizations and companies, private companies, pension funds and other organizations, including nonprofits, going forward with some sort of mandatory vaccination policy." |
34946.0 | 2021-08-25 00:00:00 UTC | Air Canada mandates COVID-19 vaccination for all employees | AC | https://www.nasdaq.com/articles/air-canada-mandates-covid-19-vaccination-for-all-employees-2021-08-25 | nan | nan | Aug 25 (Reuters) - Air Canada AC.TO said on Wednesday it would require all employees to get vaccinated against COVID-19, as the fast-spreading Delta variant drives an increase in infections.
The move by Canada's largest carrier was in line with a government mandate that workers in the transportation sector be vaccinated by the end of October and follows similar moves by other major companies, including United Airlines UAL.O.
Workers who are not vaccinated by Oct. 30 will face termination or be sent on unpaid leave, Air Canada said. It has also made full vaccination a condition of employment for new employees.
However, the carrier will accommodate workers who cannot be vaccinated for reasons such as medical conditions.
Earlier in the day, Delta Air Lines DAL.N said employees will have to pay $200 more every month for their company-sponsored healthcare plan if they choose to not vaccinate against COVID-19.
(Reporting by Sahil Shaw in Bengaluru; Editing by Aditya Soni)
((Sahil.Shaw@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Aug 25 (Reuters) - Air Canada AC.TO said on Wednesday it would require all employees to get vaccinated against COVID-19, as the fast-spreading Delta variant drives an increase in infections. The move by Canada's largest carrier was in line with a government mandate that workers in the transportation sector be vaccinated by the end of October and follows similar moves by other major companies, including United Airlines UAL.O. Earlier in the day, Delta Air Lines DAL.N said employees will have to pay $200 more every month for their company-sponsored healthcare plan if they choose to not vaccinate against COVID-19. | Aug 25 (Reuters) - Air Canada AC.TO said on Wednesday it would require all employees to get vaccinated against COVID-19, as the fast-spreading Delta variant drives an increase in infections. The move by Canada's largest carrier was in line with a government mandate that workers in the transportation sector be vaccinated by the end of October and follows similar moves by other major companies, including United Airlines UAL.O. Earlier in the day, Delta Air Lines DAL.N said employees will have to pay $200 more every month for their company-sponsored healthcare plan if they choose to not vaccinate against COVID-19. | Aug 25 (Reuters) - Air Canada AC.TO said on Wednesday it would require all employees to get vaccinated against COVID-19, as the fast-spreading Delta variant drives an increase in infections. The move by Canada's largest carrier was in line with a government mandate that workers in the transportation sector be vaccinated by the end of October and follows similar moves by other major companies, including United Airlines UAL.O. Earlier in the day, Delta Air Lines DAL.N said employees will have to pay $200 more every month for their company-sponsored healthcare plan if they choose to not vaccinate against COVID-19. | Aug 25 (Reuters) - Air Canada AC.TO said on Wednesday it would require all employees to get vaccinated against COVID-19, as the fast-spreading Delta variant drives an increase in infections. The move by Canada's largest carrier was in line with a government mandate that workers in the transportation sector be vaccinated by the end of October and follows similar moves by other major companies, including United Airlines UAL.O. Workers who are not vaccinated by Oct. 30 will face termination or be sent on unpaid leave, Air Canada said. |
34947.0 | 2021-08-20 00:00:00 UTC | CANADA STOCKS-TSX futures down as oil extends losses; retail sales data on tap | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-down-as-oil-extends-losses-retail-sales-data-on-tap-2021-08-20 | nan | nan | Aug 20 (Reuters) - Futures for Canada's main stock index inched lower on Friday as oil prices fell for a seventh straight session, with investors waiting for June retail sales data.
September futures on the S&P/TSX index SXFc1 were down 0.21% at 7:00 a.m. ET.
Crude prices headed for a weekly loss of over 6% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. O/R
June retail sales, due at 08:30 a.m. ET, are expected to rise 4.4% after falling 2.1% in May, a Reuters poll showed. New housing price data for July is also due at the same time.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.43% lower at 20,215.36 on Thursday. .TO
The main benchmark index is set to snap its four-week winning streak on weakness in commodities and rising concerns over the fast-spreading Delta variant denting a global recovery.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.39% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.4% and Nasdaq 100 e-mini futures NQc1 were down 0.24%..N
TOP STORIES TOP/CAN
Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Airboss of America Corp BOS.TO: PI Financial raises target price to C$56.50 from C$55
Hydro One Ltd H.TO: Credit Suisse raises target price to C$33 from C$32
TC Energy Corp TRP.TO: JP Morgan cuts to "neutral" from "overweight"
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1782.9; +0.13% GOL/
US crude CLc1: $63.33; -0.57% O/R
Brent crude LCOc1: $65.92; -0.8% O/R
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.29)
(Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Crude prices headed for a weekly loss of over 6% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Aug 20 (Reuters) - Futures for Canada's main stock index inched lower on Friday as oil prices fell for a seventh straight session, with investors waiting for June retail sales data. | Crude prices headed for a weekly loss of over 6% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Aug 20 (Reuters) - Futures for Canada's main stock index inched lower on Friday as oil prices fell for a seventh straight session, with investors waiting for June retail sales data. | Crude prices headed for a weekly loss of over 6% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Aug 20 (Reuters) - Futures for Canada's main stock index inched lower on Friday as oil prices fell for a seventh straight session, with investors waiting for June retail sales data. | Crude prices headed for a weekly loss of over 6% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel demand. Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Aug 20 (Reuters) - Futures for Canada's main stock index inched lower on Friday as oil prices fell for a seventh straight session, with investors waiting for June retail sales data. |
34948.0 | 2021-08-20 00:00:00 UTC | FOCUS-Air Canada sees cargo advantage in Toronto hub as shippers avoid U.S. crunch | AC | https://www.nasdaq.com/articles/focus-air-canada-sees-cargo-advantage-in-toronto-hub-as-shippers-avoid-u.s.-crunch-2021-08 | nan | nan | By Allison Lampert and Sanjana Shivdas
Aug 20 (Reuters) - Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways.
Lifted by e-commerce demand, cargo-only flights emerged as a lifeline for carriers during the pandemic when commercial traffic slumped. Half of air cargo normally travels in the belly of passenger jets.
While North American airlines are reducing all-cargo flights as passenger traffic rebounds, that shift is more gradual in Canada due to a slower easing of travel restrictions.
Cargo remains important for Canada's largest carrier, accounting for 43% of second-quarter revenue, even as it restores passenger flights, a company executive told Reuters.
"We (cargo) were a single-digit piece of the business before COVID. We hope to be a bigger part of that in the future," Jason Berry, Air Canada's vice president for cargo, said in an interview, without providing a target.
Air Canada's ambition comes as international air cargo volume hit its strongest first-half growth since 2017, airline trade group IATA said. But staffing shortages and space constraints have exacerbated congestion at hubs like Chicago's O'Hare International Airport and at some U.S. ports.
U.S. railroad operator Union Pacific Corp UNP.N recently warned that bottlenecks at West Coast ports have spread East, impacting some inland terminals, including Chicago.
BYPASSING CONGESTION
Air Canada, which trucks cargo arriving at Toronto Pearson International Airport to its facilities in Chicago and New York, could appeal to freight forwarders seeking alternatives like secondary U.S. airports to bypass the congestion, said Brandon Fried, executive director of the Airforwarders Association.
"Many of the airports in the U.S. in particular have ramped up quickly, and with that rapid growth there has been operational challenges. We’re seeing congestion, massive lines and wait times to recover product at major gateways," Air Canada's Berry said.
"We have our own facility in Chicago with our own employees, while a lot of our competitors are suffering because the U.S. has seen such a quick rebound that there is a lot of struggle for manpower down there," he said.
"With our own facilities we can control our own destiny and effectively bypass much of the disruption. We believe we have a strategic advantage in our Toronto hub, actually all of our hubs: Vancouver, Toronto and Montreal."
Keeping employees to handle cargo, as opposed to contracting out such tasks, helps airlines have more control over service and workforce when there is a labor shortage, said Stan Wraight, president of Montreal-based Strategic Aviation Solutions International (SASI).
Air Canada's services could be competitive on time against carriers that fly indirectly to O’Hare, said Wraight, of SASI, which advises airlines, airports and financial organizations on air cargo logistics.
However, the Canadian carrier would lose advantages in efficiency against airlines that offer non-stop direct service to Chicago, he said.
"Competitors of Air Canada with direct flights are on the ground and unloading cargo a day earlier," said Wraight, whose company has previously done work for the carrier.
Shawn Richard, vice president for global air freight at SEKO Logistics, said the company has increased its volumes with Air Canada, which he said can save two to three days' time.
SEKO, a U.S.-based global logistics and freight forwarding specialist that also uses certain U.S. carriers, would increase business with Air Canada if the "situation deteriorates," Richard said.
CARGO SURGE
O'Hare has processed nearly 1.3 million metric tonnes of cargo through the first half of 2021, a near 50% surge from a year ago, according to the Chicago Department of Aviation (CDA).
Soaring shipments "challenge O’Hare’s cargo ramps, both airside and landside," but the CDA is taking steps to alleviate congestion and expand cargo facilities, a spokeswoman said by email.
Berry said Air Canada's introduction of new converted Boeing 767 freighters this year will help its business even as it draws down cargo-only flights on widebody passenger jets from roughly 285 a week during the second quarter to around 125 flights a week later this year.
Freighters, equipped with pallets and a main deck cargo door, are easier to unload than "loose-loaded" passenger planes that moved cargo onto the main deck during the pandemic, Wraight said.
Berry said the return of fully vaccinated American travelers to Canada this month will also help cargo.
"We know that means more airplanes flying into the U.S. and that opens trade lanes for the globe to feed into and out of the U.S. on our network."
(Reporting By Allison Lampert in Montreal and Sanjana Shivdas in Bengaluru; Editing by Denny Thomas and Dan Grebler)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert and Sanjana Shivdas Aug 20 (Reuters) - Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. U.S. railroad operator Union Pacific Corp UNP.N recently warned that bottlenecks at West Coast ports have spread East, impacting some inland terminals, including Chicago. Keeping employees to handle cargo, as opposed to contracting out such tasks, helps airlines have more control over service and workforce when there is a labor shortage, said Stan Wraight, president of Montreal-based Strategic Aviation Solutions International (SASI). | By Allison Lampert and Sanjana Shivdas Aug 20 (Reuters) - Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Cargo remains important for Canada's largest carrier, accounting for 43% of second-quarter revenue, even as it restores passenger flights, a company executive told Reuters. But staffing shortages and space constraints have exacerbated congestion at hubs like Chicago's O'Hare International Airport and at some U.S. ports. | By Allison Lampert and Sanjana Shivdas Aug 20 (Reuters) - Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Air Canada, which trucks cargo arriving at Toronto Pearson International Airport to its facilities in Chicago and New York, could appeal to freight forwarders seeking alternatives like secondary U.S. airports to bypass the congestion, said Brandon Fried, executive director of the Airforwarders Association. Cargo remains important for Canada's largest carrier, accounting for 43% of second-quarter revenue, even as it restores passenger flights, a company executive told Reuters. | By Allison Lampert and Sanjana Shivdas Aug 20 (Reuters) - Air Canada AC.TO sees a "strategic advantage" for its cargo business in Canadian hubs like Toronto as shippers seek to bypass logjams at some U.S. gateways. Cargo remains important for Canada's largest carrier, accounting for 43% of second-quarter revenue, even as it restores passenger flights, a company executive told Reuters. But staffing shortages and space constraints have exacerbated congestion at hubs like Chicago's O'Hare International Airport and at some U.S. ports. |
34949.0 | 2021-08-13 00:00:00 UTC | Canada to require COVID-19 vaccines for federal workers | AC | https://www.nasdaq.com/articles/canada-to-require-covid-19-vaccines-for-federal-workers-2021-08-13 | nan | nan | By Julie Gordon and Steve Scherer
OTTAWA, Aug 13 (Reuters) - Canada on Friday said it will soon require all federal public servants and many other workers to be vaccinated against COVID-19, as it looks to boost its already world-leading inoculation rate amid a Delta variant-driven surge in new infections.
The vaccine mandate, which will also include air, train and cruise ship travelers, comes just two days ahead of an expected election call by Liberal Prime Minister Justin Trudeau and could prove to be a wedge issue in the campaign, with Conservatives quick to suggest it was an overstep.
Minister of Intergovernmental Affairs Dominic LeBlanc said that the vaccine requirement for public servants will be in place by the end of October and that he expects state-owned corporations and other federally regulated employers to follow suit.
"We expect the federal public service to want to comply with this mandatory requirement," LeBlanc said in a news conference. "This is the best way to end the pandemic and allow the economy to safely remain open."
He added that testing and other measures will be put in place for those who cannot be vaccinated for medical reasons.
Transport Minister Omar Alghabra said that employees in the federally regulated air, rail, and marine transportation sectors will also be required to be vaccinated, along with certain travelers.
"This includes all commercial air travelers, passengers on interprovincial trains, and passengers on large marine vessels with overnight accommodations, such as cruise ships," Alghabra said in the same news conference.
Canada's two largest airlines, Air Canada AC.TO and Westjet, both welcomed the vaccine mandate for workers.
Canada has 300,000 federal public servants and hundreds of thousands more people work for government owned or regulated corporations.
A majority of Canadians support a proof-of-vaccination system, according to a July EKOS Research poll, though it is less popular with Conservative voters who are also less likely to be vaccinated than people who support the ruling Liberals.
A spokesman for Trudeau's chief rival, Conservative leader Erin O'Toole, called vaccines the "most important tool in the fight against COVID-19," but suggested the vaccine mandate was a step too far.
"Conservatives support Canadians’ right to determine their own health choices," said spokesman Mathew Clancy in an email. "Canadians expect reasonable measures, such as rapid testing for those who are not vaccinated."
That would be more in line with the United States, where the White House is requiring all U.S. federal workers be vaccinated or face regular testing and mask mandates.
A number of other countries have mandated vaccines for healthcare and care-home workers, and some require proof of vaccination to access public spaces like bars and restaurants. Canada is planning a vaccine passport for international travel.
Canada has one of the best inoculation rates in the world, with more than 82% of eligible people having one shot and 71% fully-vaccinated. Still, active cases have doubled in two weeks amid a Delta-driven fourth wave.
(Reporting by Julie Gordon and Steve Scherer in Ottawa; Editing by Chizu Nomiyama, Paul Simao and Marguerita Choy)
((julie.gordon@thomsonreuters.com; 343-961-4020;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Julie Gordon and Steve Scherer OTTAWA, Aug 13 (Reuters) - Canada on Friday said it will soon require all federal public servants and many other workers to be vaccinated against COVID-19, as it looks to boost its already world-leading inoculation rate amid a Delta variant-driven surge in new infections. The vaccine mandate, which will also include air, train and cruise ship travelers, comes just two days ahead of an expected election call by Liberal Prime Minister Justin Trudeau and could prove to be a wedge issue in the campaign, with Conservatives quick to suggest it was an overstep. Minister of Intergovernmental Affairs Dominic LeBlanc said that the vaccine requirement for public servants will be in place by the end of October and that he expects state-owned corporations and other federally regulated employers to follow suit. | By Julie Gordon and Steve Scherer OTTAWA, Aug 13 (Reuters) - Canada on Friday said it will soon require all federal public servants and many other workers to be vaccinated against COVID-19, as it looks to boost its already world-leading inoculation rate amid a Delta variant-driven surge in new infections. The vaccine mandate, which will also include air, train and cruise ship travelers, comes just two days ahead of an expected election call by Liberal Prime Minister Justin Trudeau and could prove to be a wedge issue in the campaign, with Conservatives quick to suggest it was an overstep. Transport Minister Omar Alghabra said that employees in the federally regulated air, rail, and marine transportation sectors will also be required to be vaccinated, along with certain travelers. | By Julie Gordon and Steve Scherer OTTAWA, Aug 13 (Reuters) - Canada on Friday said it will soon require all federal public servants and many other workers to be vaccinated against COVID-19, as it looks to boost its already world-leading inoculation rate amid a Delta variant-driven surge in new infections. The vaccine mandate, which will also include air, train and cruise ship travelers, comes just two days ahead of an expected election call by Liberal Prime Minister Justin Trudeau and could prove to be a wedge issue in the campaign, with Conservatives quick to suggest it was an overstep. Minister of Intergovernmental Affairs Dominic LeBlanc said that the vaccine requirement for public servants will be in place by the end of October and that he expects state-owned corporations and other federally regulated employers to follow suit. | By Julie Gordon and Steve Scherer OTTAWA, Aug 13 (Reuters) - Canada on Friday said it will soon require all federal public servants and many other workers to be vaccinated against COVID-19, as it looks to boost its already world-leading inoculation rate amid a Delta variant-driven surge in new infections. Minister of Intergovernmental Affairs Dominic LeBlanc said that the vaccine requirement for public servants will be in place by the end of October and that he expects state-owned corporations and other federally regulated employers to follow suit. "This includes all commercial air travelers, passengers on interprovincial trains, and passengers on large marine vessels with overnight accommodations, such as cruise ships," Alghabra said in the same news conference. |
34950.0 | 2021-07-29 00:00:00 UTC | CANADA STOCKS-TSX futures inch higher as oil, gold prices firm | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-inch-higher-as-oil-gold-prices-firm-2021-07-29 | nan | nan | July 29 (Reuters) - Canadian stock futures edged higher on Thursday, as oil and gold prices rose and investors were encouraged by strong earnings reports.
Futures on the S&P/TSX index SXFc1 were up 0.2% at 07:05 a.m. ET, with Brent oil prices climbing above $75 a barrel as U.S. crude inventories fell to their lowest since January 2020. O/R
Gold prices hit a one-week high after U.S. Federal Reserve Chairman Jerome Powell reassured investors that a rate hike is not on the cards anytime soon. GOL/
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended up 0.3% at 20,230.4 on Thursday. .TO
Dow e-minis 1YMcv1 were up 118 points, or 0.34%, while S&P 500 e-minis EScv1 were up 7.5 points, or 0.17% and Nasdaq 100 e-minis NQcv1 were down 27.75 points, or 0.18%. .N
TOP STORIES TOP/CAN
Oil and gas producer Cenovus Energy Inc CVE.TO raised its full-year production forecast and posted a near 2% rise in quarterly profit as crude prices returned to pre-pandemic levels.
Canadian Pacific Railway Ltd CP.TO topped quarterly profit estimates, boosted by a recovery from the pandemic-led slump in freight volumes.
The Canadian province of British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, officials announced on Wednesday, less than a month after easing restrictions.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: Scotiabank raises to sector outperform from sector perform
Mindbeacon Holdings Inc MBCN.TO: Credit Suisse cuts to neutral from outperform
Intact Financial Corp IFC.TO: National Bank of Canada raises target to C$212 from C$207
Real Matters Inc REAL.TO: National Bank of Canada cuts to sector perform from outperform
COMMODITIES AT 7:05 a.m. ET
Gold futures GCc2: $1,822.8; +1.2% GOL/
US crude CLc1: $72.58; +0.26% O/R
Brent crude LCOc1: $74.89; +0.2% O/R
U.S. ECONOMIC DATA
0830 GDP advance for Q2: Expected 8.5%; Prior 6.4%
0830 GDP sales advance for Q2: Prior 9.2%
0830 GDP cons spending advance for Q2: Prior 11.4%
0830 GDP deflator advance for Q2: Expected 5.4%; Prior 4.3%
0830 Core PCE prices advance for Q2: Expected 5.9%; Prior 2.5%
0830 PCE prices advance for Q2: Prior 3.7%
0830 Initial jobless claim: Expected 380,000; Prior 419,000
0830 Jobless claim 4week average: Prior 385,250
0830 Continue jobless claim: Expected 3.196 mln; Prior 3.236 mln
1000 Pending Homes Index for June: Prior 114.7
1000 Pending sales change mm for June: Expected 0.3%; Prior 8.0%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
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($1= C$1.2466)
(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canadian Pacific Railway Ltd CP.TO topped quarterly profit estimates, boosted by a recovery from the pandemic-led slump in freight volumes. The Canadian province of British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, officials announced on Wednesday, less than a month after easing restrictions. Air Canada AC.TO: Scotiabank raises to sector outperform from sector perform Mindbeacon Holdings Inc MBCN.TO: Credit Suisse cuts to neutral from outperform Intact Financial Corp IFC.TO: National Bank of Canada raises target to C$212 from C$207 Real Matters Inc REAL.TO: National Bank of Canada cuts to sector perform from outperform COMMODITIES AT 7:05 a.m. | Canadian Pacific Railway Ltd CP.TO topped quarterly profit estimates, boosted by a recovery from the pandemic-led slump in freight volumes. The Canadian province of British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, officials announced on Wednesday, less than a month after easing restrictions. Air Canada AC.TO: Scotiabank raises to sector outperform from sector perform Mindbeacon Holdings Inc MBCN.TO: Credit Suisse cuts to neutral from outperform Intact Financial Corp IFC.TO: National Bank of Canada raises target to C$212 from C$207 Real Matters Inc REAL.TO: National Bank of Canada cuts to sector perform from outperform COMMODITIES AT 7:05 a.m. | Air Canada AC.TO: Scotiabank raises to sector outperform from sector perform Mindbeacon Holdings Inc MBCN.TO: Credit Suisse cuts to neutral from outperform Intact Financial Corp IFC.TO: National Bank of Canada raises target to C$212 from C$207 Real Matters Inc REAL.TO: National Bank of Canada cuts to sector perform from outperform COMMODITIES AT 7:05 a.m. Canadian Pacific Railway Ltd CP.TO topped quarterly profit estimates, boosted by a recovery from the pandemic-led slump in freight volumes. The Canadian province of British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, officials announced on Wednesday, less than a month after easing restrictions. | Canadian Pacific Railway Ltd CP.TO topped quarterly profit estimates, boosted by a recovery from the pandemic-led slump in freight volumes. The Canadian province of British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, officials announced on Wednesday, less than a month after easing restrictions. Air Canada AC.TO: Scotiabank raises to sector outperform from sector perform Mindbeacon Holdings Inc MBCN.TO: Credit Suisse cuts to neutral from outperform Intact Financial Corp IFC.TO: National Bank of Canada raises target to C$212 from C$207 Real Matters Inc REAL.TO: National Bank of Canada cuts to sector perform from outperform COMMODITIES AT 7:05 a.m. |
34951.0 | 2021-07-23 00:00:00 UTC | CANADA STOCKS-TSX set for weekly gain on tech boost | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-set-for-weekly-gain-on-tech-boost-2021-07-23 | nan | nan | Updates prices, sectors
July 23 (Reuters) - Canada's main stock index rose on Friday and was on track to post a weekly gain, driven by technology stocks, while Air Canada AC.TO edged up on forecasting increased bookings in the winter.
* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 73.95 points, or 0.37%, at 20,171.47.
* The tech sector .SPTTTK has gained nearly 4.5% so far this week, touching a record high on Friday, as a rise in global coronavirus cases sent investors flocking to pandemic-resilient stocks.
* Canada's retail sales likely rebounded in June after dropping less than expected in May, data showed on Friday, as businesses began to reopen.
* Air Canada rose 0.3% after the carrier forecast increased bookings for domestic and U.S.-bound flights in the winter as travel restrictions ease.
* The energy sector .SPTTEN climbed 0.1%, even though crude prices were down. O/R
* The financials sector .SPTTFS gained 0.7%. The industrials sector .GSPTTIN rose 0.3%.
* On the TSX, 144 issues were higher, while 74 issues declined for a 1.95-to-1 ratio favouring gainers, with 10.51 million shares traded.
* The largest percentage gainers on the TSX were Aecon Group Inc , which jumped 4.4% after the builder posted an upbeat second-quarter earnings and oil producer MEG Energy Corp , which rose 3.6%.
* Automobile parts makers Magna International Inc and FI Group Inc NFI.TO were the biggest decliners, falling 5.8% and 2.9%, respectively.
* The most heavily traded shares by volume were Royal Bank of Canada , Bank of Montreal and Trevali Mining Corp .
* The TSX posted no new 52-week highs and no new lows.
* Across all Canadian issues there were 53 new 52-week highs and eight new lows, with a total volume of 19.25 million shares.
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates prices, sectors July 23 (Reuters) - Canada's main stock index rose on Friday and was on track to post a weekly gain, driven by technology stocks, while Air Canada AC.TO edged up on forecasting increased bookings in the winter. * Across all Canadian issues there were 53 new 52-week highs and eight new lows, with a total volume of 19.25 million shares. * The tech sector .SPTTTK has gained nearly 4.5% so far this week, touching a record high on Friday, as a rise in global coronavirus cases sent investors flocking to pandemic-resilient stocks. | Updates prices, sectors July 23 (Reuters) - Canada's main stock index rose on Friday and was on track to post a weekly gain, driven by technology stocks, while Air Canada AC.TO edged up on forecasting increased bookings in the winter. * Across all Canadian issues there were 53 new 52-week highs and eight new lows, with a total volume of 19.25 million shares. * Air Canada rose 0.3% after the carrier forecast increased bookings for domestic and U.S.-bound flights in the winter as travel restrictions ease. | Updates prices, sectors July 23 (Reuters) - Canada's main stock index rose on Friday and was on track to post a weekly gain, driven by technology stocks, while Air Canada AC.TO edged up on forecasting increased bookings in the winter. * Across all Canadian issues there were 53 new 52-week highs and eight new lows, with a total volume of 19.25 million shares. * The tech sector .SPTTTK has gained nearly 4.5% so far this week, touching a record high on Friday, as a rise in global coronavirus cases sent investors flocking to pandemic-resilient stocks. | Updates prices, sectors July 23 (Reuters) - Canada's main stock index rose on Friday and was on track to post a weekly gain, driven by technology stocks, while Air Canada AC.TO edged up on forecasting increased bookings in the winter. * Across all Canadian issues there were 53 new 52-week highs and eight new lows, with a total volume of 19.25 million shares. * On the TSX, 144 issues were higher, while 74 issues declined for a 1.95-to-1 ratio favouring gainers, with 10.51 million shares traded. |
34952.0 | 2021-07-23 00:00:00 UTC | CANADA STOCKS-TSX futures up ahead of retail sales data | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-up-ahead-of-retail-sales-data-2021-07-23 | nan | nan | July 23 (Reuters) - Futures for Canada's main stock index rose on Friday as investors awaited domestic retail sales data for May, while Air Canada reported a smaller second-quarter loss.
Canada's retail sales data is due at 8:30 a.m. ET.
September futures on the S&P/TSX index SXFc1 were up 0.46% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.06% higher at 20,097.52 on Thursday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.47% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.47%% and Nasdaq 100 e-mini futures NQc1 were up 0.47%.
TOP STORIES TOP/CAN
Automotive supplier Magna International Inc MG.TO said on Thursday it entered a deal to buy automotive technology firm Veoneer Inc VNE.N in a deal valued at about $3.8 billion.
Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Equitable Group Inc EQB.TO: RBC cuts target price to C$161 from C$169
Fairfax Financial Holdings Ltd FFH.TO: Cormark Securities raises PT to C$700 from C$675
Magnet Forensics Inc MAGT.TO: National Bank of Canada initiates with "outperform" rating
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1799.4; -0.33% GOL/
US crude CLc1: $71.73; -0.25% O/R
Brent crude LCOc1: $72.56; -0.31% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
0945 Markit Composite Flash PMI for July: Prior 63.7
0945 Markit Manufacturing PMI Flash for July: Expected 62.0; Prior 62.1
0945 Markit Service PMI Flash for July: Expected 64.8; Prior 64.6
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($1= C$1.26)
(Reporting by Amal S in Bengaluru; Editing by Maju Samuel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. 0945 Markit Composite Flash PMI for July: Prior 63.7 0945 Markit Manufacturing PMI Flash for July: Expected 62.0; Prior 62.1 0945 Markit Service PMI Flash for July: Expected 64.8; Prior 64.6 July 23 (Reuters) - Futures for Canada's main stock index rose on Friday as investors awaited domestic retail sales data for May, while Air Canada reported a smaller second-quarter loss. | 0945 Markit Composite Flash PMI for July: Prior 63.7 0945 Markit Manufacturing PMI Flash for July: Expected 62.0; Prior 62.1 0945 Markit Service PMI Flash for July: Expected 64.8; Prior 64.6 Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. July 23 (Reuters) - Futures for Canada's main stock index rose on Friday as investors awaited domestic retail sales data for May, while Air Canada reported a smaller second-quarter loss. | 0945 Markit Composite Flash PMI for July: Prior 63.7 0945 Markit Manufacturing PMI Flash for July: Expected 62.0; Prior 62.1 0945 Markit Service PMI Flash for July: Expected 64.8; Prior 64.6 Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. July 23 (Reuters) - Futures for Canada's main stock index rose on Friday as investors awaited domestic retail sales data for May, while Air Canada reported a smaller second-quarter loss. | Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. 0945 Markit Composite Flash PMI for July: Prior 63.7 0945 Markit Manufacturing PMI Flash for July: Expected 62.0; Prior 62.1 0945 Markit Service PMI Flash for July: Expected 64.8; Prior 64.6 July 23 (Reuters) - Futures for Canada's main stock index rose on Friday as investors awaited domestic retail sales data for May, while Air Canada reported a smaller second-quarter loss. |
34953.0 | 2021-07-23 00:00:00 UTC | Air Canada's quarterly loss narrows as travel demand returns | AC | https://www.nasdaq.com/articles/air-canadas-quarterly-loss-narrows-as-travel-demand-returns-2021-07-23 | nan | nan | Adds CEO quote, details on cash burn
July 23 (Reuters) - Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand.
Canada will allow fully vaccinated U.S. tourists to enter the country from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban.
"The elimination of the quarantine period for fully vaccinated returning Canadians and the removal of other travel restrictions announced in June led to a significant increase in bookings," said Chief Executive Officer Michael Rousseau.
With global travel restrictions easing, Air Canada earlier this month announced its international summer schedule, resuming 17 routes and 11 destinations from its hubs.
The Canadian carrier posted net cash burn of about C$8 million per day during the quarter and forecast cash burn of between C$3 million and C$5 million per day in the third quarter.
The airline's net loss was C$1.17 billion, or C$3.31 per share, in the quarter ended June 30, compared with a loss of C$1.75 billion, or C$6.44 per share, a year earlier.
Its operating revenue rose 58.8% to C$837 million in the quarter. Analysts on average expected a revenue of C$848.2 million, according to Refinitiv data.
(Reporting by Sanjana Shivdas in Bengaluru and Allison Lampert in Montreal; editing by Uttaresh.V)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds CEO quote, details on cash burn July 23 (Reuters) - Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. "The elimination of the quarantine period for fully vaccinated returning Canadians and the removal of other travel restrictions announced in June led to a significant increase in bookings," said Chief Executive Officer Michael Rousseau. Canada will allow fully vaccinated U.S. tourists to enter the country from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. | Adds CEO quote, details on cash burn July 23 (Reuters) - Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. Canada will allow fully vaccinated U.S. tourists to enter the country from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. "The elimination of the quarantine period for fully vaccinated returning Canadians and the removal of other travel restrictions announced in June led to a significant increase in bookings," said Chief Executive Officer Michael Rousseau. | Adds CEO quote, details on cash burn July 23 (Reuters) - Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. "The elimination of the quarantine period for fully vaccinated returning Canadians and the removal of other travel restrictions announced in June led to a significant increase in bookings," said Chief Executive Officer Michael Rousseau. Canada will allow fully vaccinated U.S. tourists to enter the country from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. | Adds CEO quote, details on cash burn July 23 (Reuters) - Air Canada AC.TO reported a smaller second-quarter loss on Friday, as rising vaccination rates and easing restrictions aided a rebound in travel demand. Canada will allow fully vaccinated U.S. tourists to enter the country from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. "The elimination of the quarantine period for fully vaccinated returning Canadians and the removal of other travel restrictions announced in June led to a significant increase in bookings," said Chief Executive Officer Michael Rousseau. |
34954.0 | 2021-07-21 00:00:00 UTC | CANADA STOCKS-TSX futures rise on higher crude prices | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-rise-on-higher-crude-prices-2021-07-21 | nan | nan | July 21 (Reuters) - Futures for Canada's main stock index rose on Wednesday, after the benchmark index saw its best day in nearly two months in the previous session, helped by firmer crude prices.
Brent crude LCOc1 futures and U.S. West Texas Intermediate (WTI) crude CLc1 futures both rose over 1%, as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories last week. O/R
June futures on the S&P/TSX index SXFc1 were up 0.6% at 7:00 a.m. ET.
Data on Canada's new housing prices is due at 08:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.1% higher at 19,942.71 on Tuesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.5% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.34% and Nasdaq 100 e-mini futures NQc1 were up 0.01%.
TOP STORIES TOP/CAN
Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country.
Canadian National Railway Co CNR.TO on Tuesday reported a 12.1% rise in quarterly revenue, as the country's biggest railroad operator shipped more petroleum, chemicals and intermodal freight.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Emera Inc EMA.TO: CIBC raises target price to C$59 from C$58
Premium Brands Holdings Corp PBH.TO: National Bank of Canada ups PT to C$136 from C$134
WSP Global Inc WSP.TO: CIBC raises target price to C$157 from C$150
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1802.56; -0.42% GOL/
US crude CLc1: $68.16; +1.43% O/R
Brent crude LCOc1: $70.35; +1.44% O/R
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($1= C$1.27)
(Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Brent crude LCOc1 futures and U.S. West Texas Intermediate (WTI) crude CLc1 futures both rose over 1%, as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories last week. Canadian National Railway Co CNR.TO on Tuesday reported a 12.1% rise in quarterly revenue, as the country's biggest railroad operator shipped more petroleum, chemicals and intermodal freight. | Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. July 21 (Reuters) - Futures for Canada's main stock index rose on Wednesday, after the benchmark index saw its best day in nearly two months in the previous session, helped by firmer crude prices. Emera Inc EMA.TO: CIBC raises target price to C$59 from C$58 Premium Brands Holdings Corp PBH.TO: National Bank of Canada ups PT to C$136 from C$134 WSP Global Inc WSP.TO: CIBC raises target price to C$157 from C$150 COMMODITIES AT 7:00 a.m. | Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. July 21 (Reuters) - Futures for Canada's main stock index rose on Wednesday, after the benchmark index saw its best day in nearly two months in the previous session, helped by firmer crude prices. Brent crude LCOc1 futures and U.S. West Texas Intermediate (WTI) crude CLc1 futures both rose over 1%, as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories last week. | Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. July 21 (Reuters) - Futures for Canada's main stock index rose on Wednesday, after the benchmark index saw its best day in nearly two months in the previous session, helped by firmer crude prices. ET The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.1% higher at 19,942.71 on Tuesday. |
34955.0 | 2021-07-20 00:00:00 UTC | Air Canada has enough pilots to meet demand as U.S. tourists return | AC | https://www.nasdaq.com/articles/air-canada-has-enough-pilots-to-meet-demand-as-u.s.-tourists-return-2021-07-20-0 | nan | nan | Adds union and WestJet comment, closing price
MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country.
Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban.
A rapid return in traffic can create staffing headaches for carriers which cancelled thousands of flights during the COVID-19 pandemic when demand plummeted.
Some U.S. airlines scrambled to re-train pilots whose flying credentials expired during the pandemic as the carriers raced to meet a surge in summer travel demand. American Airlines AAL.O, for example, trimmed its July flying due to overall labor shortages.
Air Canada has 600, or around 15% of an estimated 4,000 pilots on furlough, according to the Air Canada Pilots Association.
Montreal-based Air Canada said by email the carrier took steps during the pandemic to keep pilots in the air, such as by having three pilots instead of two on some flights.
"We have all the fully qualified pilots we require as travel ramps back up," an Air Canada spokesperson said.
Air Canada has 11 simulators and access to five more through aviation training specialist CAE CAE.TO.
Montreal-based CAE has seen higher demand for its simulator services, with its pilot-training centers now operating at around 60% of capacity in the United States, a spokeswoman said.
Air Canada shares closed up 6.48%. The carrier reports quarterly earnings on Friday.
Air Canada's smaller rival WestJet Airlines said it continues to recall professionals, "who in many cases have been furloughed for many months."
WestJet also said it is not actively "pursuing financial support" from the Canadian government, despite holding earlier talks.
Air Canada (AC.TO) reached a deal in April for a government aid package.
(Reporting by Allison Lampert in Montreal. Additional reporting by Tracy Rucinski in Chicago; Editing by Sandra Maler and Richard Pullin)
((Allison.Lampert@thomsonreuters.com; + 1 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A rapid return in traffic can create staffing headaches for carriers which cancelled thousands of flights during the COVID-19 pandemic when demand plummeted. Some U.S. airlines scrambled to re-train pilots whose flying credentials expired during the pandemic as the carriers raced to meet a surge in summer travel demand. Montreal-based CAE has seen higher demand for its simulator services, with its pilot-training centers now operating at around 60% of capacity in the United States, a spokeswoman said. | Adds union and WestJet comment, closing price MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Air Canada has 600, or around 15% of an estimated 4,000 pilots on furlough, according to the Air Canada Pilots Association. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. | Adds union and WestJet comment, closing price MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Air Canada has 600, or around 15% of an estimated 4,000 pilots on furlough, according to the Air Canada Pilots Association. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. | Adds union and WestJet comment, closing price MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the qualified pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Air Canada has 600, or around 15% of an estimated 4,000 pilots on furlough, according to the Air Canada Pilots Association. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. |
34956.0 | 2021-07-20 00:00:00 UTC | Air Canada has enough pilots to meet demand as U.S. tourists return | AC | https://www.nasdaq.com/articles/air-canada-has-enough-pilots-to-meet-demand-as-u.s.-tourists-return-2021-07-20 | nan | nan | MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the "fully qualified" pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country.
Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban.
A rapid return in traffic can create staffing headaches for carriers which cancelled thousands of flights during the COVID-19 pandemic when demand plummeted.
Some U.S. airlines scrambled to re-train pilots whose flying credentials expired during the pandemic as the carriers raced to meet a surge in summer travel demand. American Airlines AAL.O, for example, trimmed its July flying due to overall labor shortages.
As of April 13, Air Canada had 600 pilots on furlough, according to their union. The carrier had around 4,000 pilots before COVID-19, said a spokeswoman for the Air Canada Pilots Association.
But Air Canada said by email the carrier took steps during the pandemic to keep pilots in the air, such as having three pilots instead of two, even on near-empty flights and converting larger aircraft to freighters.
"We have all the fully qualified pilots we require as travel ramps back up," an Air Canada spokesperson said.
Air Canada has 11 simulators and access to five more through aviation training specialist CAE CAE.TO.
Montreal-based CAE has seen higher demand for its simulator services, with its pilot-training centers now operating at around 60% of capacity in the United States, a spokeswoman said.
Air Canada shares were up 7% in afternoon trading. The carrier reports quarterly earnings on Friday.
(Reporting by Allison Lampert in Montreal. Additional reporting by Tracy Rucinski in Chicago; Editing by Sandra Maler)
((Allison.Lampert@thomsonreuters.com; + 1 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A rapid return in traffic can create staffing headaches for carriers which cancelled thousands of flights during the COVID-19 pandemic when demand plummeted. Some U.S. airlines scrambled to re-train pilots whose flying credentials expired during the pandemic as the carriers raced to meet a surge in summer travel demand. Montreal-based CAE has seen higher demand for its simulator services, with its pilot-training centers now operating at around 60% of capacity in the United States, a spokeswoman said. | MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the "fully qualified" pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. "We have all the fully qualified pilots we require as travel ramps back up," an Air Canada spokesperson said. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. | MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the "fully qualified" pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. A rapid return in traffic can create staffing headaches for carriers which cancelled thousands of flights during the COVID-19 pandemic when demand plummeted. | MONTREAL, July 20 (Reuters) - Canada's largest carrier Air Canada AC.TO said on Tuesday it has all the "fully qualified" pilots it needs to meet higher travel demand with the planned return of U.S. tourists to the country. Montreal-based CAE has seen higher demand for its simulator services, with its pilot-training centers now operating at around 60% of capacity in the United States, a spokeswoman said. Canada on Monday said it would allow fully vaccinated U.S. tourists to enter the country starting from Aug. 9, after the COVID-19 pandemic forced an unprecedented 16-month ban. |
34957.0 | 2021-07-19 00:00:00 UTC | Canada to welcome fully-vaccinated U.S. tourists from Aug 9 | AC | https://www.nasdaq.com/articles/canada-to-welcome-fully-vaccinated-u.s.-tourists-from-aug-9-2021-07-19 | nan | nan | Canada will start allowing fully-vaccinated U.S. visitors into the country on Aug 9 for non-essential travel as the threat from the COVID-19 pandemic fades, Ottawa said on Monday.
Visitors from countries other than the United States who have been inoculated will be permitted to enter on Sept 7. The relaxation depends on Canada's COVID-19 epidemiology remaining favorable, the government said on a statement.
Businesses on both sides of the border, particularly the travel and airline industries, are demanding an end to restrictions on non-essential travel between Canada and the United States which were first imposed in March 2020. | Canada will start allowing fully-vaccinated U.S. visitors into the country on Aug 9 for non-essential travel as the threat from the COVID-19 pandemic fades, Ottawa said on Monday. Visitors from countries other than the United States who have been inoculated will be permitted to enter on Sept 7. The relaxation depends on Canada's COVID-19 epidemiology remaining favorable, the government said on a statement. | Canada will start allowing fully-vaccinated U.S. visitors into the country on Aug 9 for non-essential travel as the threat from the COVID-19 pandemic fades, Ottawa said on Monday. Visitors from countries other than the United States who have been inoculated will be permitted to enter on Sept 7. Businesses on both sides of the border, particularly the travel and airline industries, are demanding an end to restrictions on non-essential travel between Canada and the United States which were first imposed in March 2020. | Canada will start allowing fully-vaccinated U.S. visitors into the country on Aug 9 for non-essential travel as the threat from the COVID-19 pandemic fades, Ottawa said on Monday. Visitors from countries other than the United States who have been inoculated will be permitted to enter on Sept 7. Businesses on both sides of the border, particularly the travel and airline industries, are demanding an end to restrictions on non-essential travel between Canada and the United States which were first imposed in March 2020. | Canada will start allowing fully-vaccinated U.S. visitors into the country on Aug 9 for non-essential travel as the threat from the COVID-19 pandemic fades, Ottawa said on Monday. Visitors from countries other than the United States who have been inoculated will be permitted to enter on Sept 7. The relaxation depends on Canada's COVID-19 epidemiology remaining favorable, the government said on a statement. |
34958.0 | 2021-07-12 00:00:00 UTC | Canada's Porter Airlines to double fleet with major order of Embraer jets | AC | https://www.nasdaq.com/articles/canadas-porter-airlines-to-double-fleet-with-major-order-of-embraer-jets-2021-07-12 | nan | nan | Adds interview with CEO
SAO PAULO July 12 (Reuters) - Porter Airlines is tapping opportunities from the COVID-19 pandemic with a firm order for 30 Embraer E195-E2 jets that will double the Canadian carrier's fleet and allow it to add new routes in the United States, Mexico and the Caribbean, Chief Executive Michael Deluce said on Monday.
Earlier, Brazilian planemaker Embraer SA EMBR3.SA said Porter was the mystery buyer behind an order of up to 80 E195-E2 jets, a deal previously announced in May. Porter placed an order to buy a record 30 jets and options for 50 more, for a total value of $5.82 billion based on list prices, Embraer said.
Embraer shares were up 6% in early afternoon trade in Sao Paulo.
The order, Toronto-based Porter's largest ever,is part of a reshaping of Canada's post-pandemic air travel sector. Tiny ultra low cost carrier (ULCC) Flair Airlines is introducing cross-border service, raising pricing pressure as market leader Air Canada AC.TO restores routes. [nL2N2OJ2MZ]
"It certainly will be highly competitive," Deluce said in an interview.
Like their global peers, Canadian carriers were battered during the pandemic with flights plummeting due to strict travel restrictions. But the pandemic also led to growth opportunities, including lowering the cost of acquiring planes.
"The pandemic created opportunities on acquisition that were not available before," Deluce said, without giving details on pricing. "We were looking at various growth plans, but I think the specifics really emerged during the pandemic."
United Airlines UAL.O in late June announced its largest-ever order for Boeing BA.N and Airbus AIR.PA jets in a push for post-pandemic growth .
Porter is restarting flights on Sept. 8 after suspending travel for nearly 18 months. The carrier operates 29 DeHavilland Dash 8-400 turboprops and competes by offering perks like free beverages and snacks, at a time when rivals are moving toward charging for onboard services.
But while the fuel-efficient turboprops help Porter lower costs, their limited range capped the airline's growth potential.
The E195-E2 jets would allow Porter to fly to new U.S. Mexican and Caribbean destinations from Canadian cities like Toronto and Montreal, although new routes have not yet been announced. The jets will enter service starting in the second half of 2022.
Embraer has orders for up to 280 E195-E2 planes, a mix of firm orders and options.
Porter will be Embraer's first North American customer for the E2 line.
(Reporting by Marcelo Rochabrun in Sao Paulo and Allison Lampert in Montreal Editing by Paul Simao)
((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Tiny ultra low cost carrier (ULCC) Flair Airlines is introducing cross-border service, raising pricing pressure as market leader Air Canada AC.TO restores routes. The carrier operates 29 DeHavilland Dash 8-400 turboprops and competes by offering perks like free beverages and snacks, at a time when rivals are moving toward charging for onboard services. Porter placed an order to buy a record 30 jets and options for 50 more, for a total value of $5.82 billion based on list prices, Embraer said. | Porter placed an order to buy a record 30 jets and options for 50 more, for a total value of $5.82 billion based on list prices, Embraer said. Tiny ultra low cost carrier (ULCC) Flair Airlines is introducing cross-border service, raising pricing pressure as market leader Air Canada AC.TO restores routes. But the pandemic also led to growth opportunities, including lowering the cost of acquiring planes. | Porter placed an order to buy a record 30 jets and options for 50 more, for a total value of $5.82 billion based on list prices, Embraer said. Tiny ultra low cost carrier (ULCC) Flair Airlines is introducing cross-border service, raising pricing pressure as market leader Air Canada AC.TO restores routes. But the pandemic also led to growth opportunities, including lowering the cost of acquiring planes. | But the pandemic also led to growth opportunities, including lowering the cost of acquiring planes. Porter placed an order to buy a record 30 jets and options for 50 more, for a total value of $5.82 billion based on list prices, Embraer said. Tiny ultra low cost carrier (ULCC) Flair Airlines is introducing cross-border service, raising pricing pressure as market leader Air Canada AC.TO restores routes. |
34959.0 | 2021-06-21 00:00:00 UTC | Canada's Transat ends takeover talks with Quebec businessman Peladeau | AC | https://www.nasdaq.com/articles/canadas-transat-ends-takeover-talks-with-quebec-businessman-peladeau-2021-06-21 | nan | nan | Adds details from Transat's statement, background
June 21 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO said on Monday it had ended discussions with Quebec businessman Pierre Karl Péladeau over a possible takeover.
Transat engaged with Péladeau after the country's largest airline, Air Canada AC.TO, scrapped its merger plans due to stiff concerns raised by European regulators.
Péladeau offered C$5.00 per share in cash for Transat earlier this year, but the company's stock has surged nearly 60% to C$7.21 since it secured C$700 million ($565 million) in government funding in April.
"Considering the current share price, the price offered no longer provides a reasonable basis to...allow the transaction to proceed," Transat said on Monday.
Transat has suspended flights due to pandemic restrictions that have battered travel demand and has said it needed at least C$500 million in financing this year.
The company plans to restart its operations and flights on July 30, it said on Monday.
($1 = 1.2390 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details from Transat's statement, background June 21 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO said on Monday it had ended discussions with Quebec businessman Pierre Karl Péladeau over a possible takeover. Transat engaged with Péladeau after the country's largest airline, Air Canada AC.TO, scrapped its merger plans due to stiff concerns raised by European regulators. "Considering the current share price, the price offered no longer provides a reasonable basis to...allow the transaction to proceed," Transat said on Monday. | Adds details from Transat's statement, background June 21 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO said on Monday it had ended discussions with Quebec businessman Pierre Karl Péladeau over a possible takeover. "Considering the current share price, the price offered no longer provides a reasonable basis to...allow the transaction to proceed," Transat said on Monday. Transat engaged with Péladeau after the country's largest airline, Air Canada AC.TO, scrapped its merger plans due to stiff concerns raised by European regulators. | Adds details from Transat's statement, background June 21 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO said on Monday it had ended discussions with Quebec businessman Pierre Karl Péladeau over a possible takeover. Transat engaged with Péladeau after the country's largest airline, Air Canada AC.TO, scrapped its merger plans due to stiff concerns raised by European regulators. "Considering the current share price, the price offered no longer provides a reasonable basis to...allow the transaction to proceed," Transat said on Monday. | Adds details from Transat's statement, background June 21 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO said on Monday it had ended discussions with Quebec businessman Pierre Karl Péladeau over a possible takeover. Transat engaged with Péladeau after the country's largest airline, Air Canada AC.TO, scrapped its merger plans due to stiff concerns raised by European regulators. "Considering the current share price, the price offered no longer provides a reasonable basis to...allow the transaction to proceed," Transat said on Monday. |
34960.0 | 2021-06-16 00:00:00 UTC | CANADA STOCKS-TSX futures flat as investors eye inflation data, U.S. Fed | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-flat-as-investors-eye-inflation-data-u.s.-fed-2021-06-16 | nan | nan | June 16 (Reuters) - Futures for Canada's main stock index were subdued Wednesday, mirroring moves across global equity markets, as investors awaited local inflation data and comments from the U.S. Federal Reserve on when it would ease its monetary stimulus.
Fed officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the COVID-19 pandemic last year.
June futures on the S&P/TSX index SXFc1 were down 0.01% at 7:00 a.m. ET.
Canada's inflation data for May is due at 08:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.36% higher at 20,231.3 on Tuesday.
Dow Jones Industrial Average e-mini futures 1YMc1 were down 0.13% at 7:00 a.m. ET. S&P 500 e-mini futures ESc1 were down 0.05% and Nasdaq 100 e-mini futures NQc1 were up 0.06%.
TOP STORIES TOP/CAN
The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier's failure to provide timely refunds requested by thousands of customers for flights to or from the United States.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Air Canada AC.TO: TD Securities raises target price to C$34 from C$30
Empire Company Ltd EMPa.TO: RBC raises target price to C$45 from C$43
Stelco Holdings STLC.TO: JP Morgan initiates with "overweight" rating and PT of C$54
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1856; +0.04% GOL/
US crude CLc1: $72.24; +0.17% O/R
Brent crude LCOc1: $74.22; +0.31% O/R
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Build permits: number for May: Expected 1.730 mln; Prior 1.733 mln
0830 Build permits: change mm for May: Prior -1.3%
0830 Housing starts number for May: Expected 1.630 mln; Prior 1.569 mln
0830 House starts mm: change for May: Prior -9.5%
0830 Import prices mm for May: Expected 0.8%; Prior 0.7%
0830 Export prices mm for May: Expected 0.8%; Prior 0.8%
0830 Import prices yy for May: Prior 10.6%
1400 Fed funds target rate for 16 Jun: Expected 0-0.25%; Prior 0-0.25%
1400 Fed int on excess reserves for 16 Jun: Prior 0.10%
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.22)
(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 16 (Reuters) - Futures for Canada's main stock index were subdued Wednesday, mirroring moves across global equity markets, as investors awaited local inflation data and comments from the U.S. Federal Reserve on when it would ease its monetary stimulus. Fed officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the COVID-19 pandemic last year. The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier's failure to provide timely refunds requested by thousands of customers for flights to or from the United States. | June 16 (Reuters) - Futures for Canada's main stock index were subdued Wednesday, mirroring moves across global equity markets, as investors awaited local inflation data and comments from the U.S. Federal Reserve on when it would ease its monetary stimulus. Fed officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the COVID-19 pandemic last year. The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier's failure to provide timely refunds requested by thousands of customers for flights to or from the United States. | June 16 (Reuters) - Futures for Canada's main stock index were subdued Wednesday, mirroring moves across global equity markets, as investors awaited local inflation data and comments from the U.S. Federal Reserve on when it would ease its monetary stimulus. Fed officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the COVID-19 pandemic last year. The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier's failure to provide timely refunds requested by thousands of customers for flights to or from the United States. | June 16 (Reuters) - Futures for Canada's main stock index were subdued Wednesday, mirroring moves across global equity markets, as investors awaited local inflation data and comments from the U.S. Federal Reserve on when it would ease its monetary stimulus. Fed officials on Wednesday are expected to at least flag the pending start of talks about when and how to exit from the crisis-era policies the U.S. central bank put in place at the onset of the COVID-19 pandemic last year. The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier's failure to provide timely refunds requested by thousands of customers for flights to or from the United States. |
34961.0 | 2021-06-15 00:00:00 UTC | U.S. seeks $25.5 million fine from Air Canada over delayed refunds | AC | https://www.nasdaq.com/articles/u.s.-seeks-%2425.5-million-fine-from-air-canada-over-delayed-refunds-2021-06-15-0 | nan | nan | By David Shepardson
WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States.
The department said it filed a formal complaint with a U.S. administrative law judge over flights Air Canada canceled or significantly changed. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year.
Air Canada, which was not immediately available for comment, has been hard hit by the pandemic and government restrictions on travel. It obtained a financial aid package this spring that gave the carrier access to up to C$5.9 billion ($4.84 billion) in funds through a loan program.
The Transportation Department also disclosed it "is also actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it will take "enforcement action" as appropriate.
The administration said the penalty sought was over "extreme delays in providing the required refunds."
Refund requests spiked during the COVID-19 pandemic.
Since March 2020, the Transportation Department has received over 6,000 complaints against Air Canada from consumers who said they were denied refunds for flights canceled or significantly changed. The department said the airline has committed a minimum of 5,110 violations and passengers waited anywhere from five to 13 months to receive refunds.
Last month, a trade group told U.S. lawmakers that 11 U.S. airlines issued $12.84 billion in cash refunds to customers in 2020 as the coronavirus pandemic upended the travel industry.
In May, Democratic Senators Edward Markey and Richard Blumenthal called on carriers to issue cash refunds whether flights were canceled by the airline or traveler.
($1 = 1.2195 Canadian dollars)
(Reporting by David Shepardson in Washington Additional reporting by Allison Lampert in Montreal Editing by Matthew Lewis)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By David Shepardson WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. It obtained a financial aid package this spring that gave the carrier access to up to C$5.9 billion ($4.84 billion) in funds through a loan program. The Transportation Department also disclosed it "is also actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it will take "enforcement action" as appropriate. | By David Shepardson WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. It obtained a financial aid package this spring that gave the carrier access to up to C$5.9 billion ($4.84 billion) in funds through a loan program. The Transportation Department also disclosed it "is also actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it will take "enforcement action" as appropriate. | By David Shepardson WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. It obtained a financial aid package this spring that gave the carrier access to up to C$5.9 billion ($4.84 billion) in funds through a loan program. The Transportation Department also disclosed it "is also actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it will take "enforcement action" as appropriate. | By David Shepardson WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department said on Tuesday it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. It obtained a financial aid package this spring that gave the carrier access to up to C$5.9 billion ($4.84 billion) in funds through a loan program. The Transportation Department also disclosed it "is also actively investigating the refund practices of other U.S. and foreign carriers flying to and from the United States" and said it will take "enforcement action" as appropriate. |
34962.0 | 2021-06-15 00:00:00 UTC | U.S. seeks $25.5 million fine from Air Canada over delayed refunds | AC | https://www.nasdaq.com/articles/u.s.-seeks-%2425.5-million-fine-from-air-canada-over-delayed-refunds-2021-06-15 | nan | nan | WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department on Tuesday said it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States.
The department said it filed a formal complaint with a U.S. administrative law judge over flights Air Canada canceled or significantly changed. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year.
(Reporting by David Shepardson)
((David.Shepardson@thomsonreuters.com; 2028988324;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department on Tuesday said it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. The department said it filed a formal complaint with a U.S. administrative law judge over flights Air Canada canceled or significantly changed. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year. | WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department on Tuesday said it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. The department said it filed a formal complaint with a U.S. administrative law judge over flights Air Canada canceled or significantly changed. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year. | WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department on Tuesday said it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year. (Reporting by David Shepardson) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 15 (Reuters) - The U.S. Transportation Department on Tuesday said it was seeking a $25.5 million fine from Air Canada AC.TO over the carrier’s failure to provide timely refunds to thousands of consumers who requested them for flights to or from the United States. The department said it filed a formal complaint with a U.S. administrative law judge over flights Air Canada canceled or significantly changed. The penalty is "intended to deter Air Canada and other carriers from committing similar violations in the future," the department said, adding Air Canada continued its no-refund policy in violation of U.S. law for more than a year. |
34963.0 | 2021-06-11 00:00:00 UTC | CANADA STOCKS - TSX rises 0.44% to 20,138.35 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.44-to-20138.35-2021-06-11 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.44 percent to 20,138.35
* Leading the index were AcuityAds Holdings Inc , up 10.0%, Tourmaline Oil Corp TOU.TO, up 8.3%, and Canada Goose Holdings Inc GOOS.TO, higher by 4.6%.
* Lagging shares were Enghouse Systems Ltd ENGH.TO, down 4.1%, Fortuna Silver Mines Inc FVI.TO, down 3.0%, and Osisko Mining Inc OSK.TO, lower by 2.6%.
* On the TSX 129 issues rose and 98 fell as a 1.3-to-1 ratio favored advancers. There were 31 new highs and 1 new low, with total volume of 164.7 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN rose 1.67 points, or 1.2%, while the financials sector .SPTTFS climbed 1.27 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 rose 0.7%, or $0.49, to $70.78 a barrel. Brent crude LCOc1 rose 0.18%, or $0.13, to $72.65 O/R
* The TSX is up 15.5% for the year.
This summary was machine generated June 11 at 21:08 GMT.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.44 percent to 20,138.35 * Leading the index were AcuityAds Holdings Inc , up 10.0%, Tourmaline Oil Corp TOU.TO, up 8.3%, and Canada Goose Holdings Inc GOOS.TO, higher by 4.6%. This summary was machine generated June 11 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.44 percent to 20,138.35 * Leading the index were AcuityAds Holdings Inc , up 10.0%, Tourmaline Oil Corp TOU.TO, up 8.3%, and Canada Goose Holdings Inc GOOS.TO, higher by 4.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Air Canada AC.TO. This summary was machine generated June 11 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.44 percent to 20,138.35 * Leading the index were AcuityAds Holdings Inc , up 10.0%, Tourmaline Oil Corp TOU.TO, up 8.3%, and Canada Goose Holdings Inc GOOS.TO, higher by 4.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Air Canada AC.TO. This summary was machine generated June 11 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.44 percent to 20,138.35 * Leading the index were AcuityAds Holdings Inc , up 10.0%, Tourmaline Oil Corp TOU.TO, up 8.3%, and Canada Goose Holdings Inc GOOS.TO, higher by 4.6%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Enbridge Inc ENB.TO and Air Canada AC.TO. This summary was machine generated June 11 at 21:08 GMT. |
34964.0 | 2021-06-11 00:00:00 UTC | Associated Capital Group, Inc. (AC) Ex-Dividend Date Scheduled for June 14, 2021 | AC | https://www.nasdaq.com/articles/associated-capital-group-inc.-ac-ex-dividend-date-scheduled-for-june-14-2021-2021-06-11 | nan | nan | Associated Capital Group, Inc. (AC) will begin trading ex-dividend on June 14, 2021. A cash dividend payment of $0.1 per share is scheduled to be paid on June 29, 2021. Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 11th quarter that AC has paid the same dividend.
The previous trading day's last sale of AC was $38.71, representing a -8.66% decrease from the 52 week high of $42.38 and a 28.14% increase over the 52 week low of $30.21.
AC is a part of the Finance sector, which includes companies such as Morgan Stanley (MS) and The Charles Schwab Corporation (SCHW). AC's current earnings per share, an indicator of a company's profitability, is $4.95.
For more information on the declaration, record and payment dates, visit the AC Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to AC through an Exchange Traded Fund [ETF]?
The following ETF(s) have AC as a top-10 holding:
iShares MSCI Philippines ETF (AC).
The top-performing ETF of this group is EPHE with an decrease of -4.15% over the last 100 days. It also has the highest percent weighting of AC at 7.09%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. AC is a part of the Finance sector, which includes companies such as Morgan Stanley (MS) and The Charles Schwab Corporation (SCHW). For more information on the declaration, record and payment dates, visit the AC Dividend History page. | Associated Capital Group, Inc. (AC) will begin trading ex-dividend on June 14, 2021. Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 11th quarter that AC has paid the same dividend. | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the AC Dividend History page. The following ETF(s) have AC as a top-10 holding: iShares MSCI Philippines ETF (AC). | Shareholders who purchased AC prior to the ex-dividend date are eligible for the cash dividend payment. Associated Capital Group, Inc. (AC) will begin trading ex-dividend on June 14, 2021. This marks the 11th quarter that AC has paid the same dividend. |
34965.0 | 2021-06-09 00:00:00 UTC | EMERGING MARKETS-Philippines gains, Asian currencies quiet ahead of U.S. inflation data | AC | https://www.nasdaq.com/articles/emerging-markets-philippines-gains-asian-currencies-quiet-ahead-of-u.s.-inflation-data | nan | nan | China PPI rises at fastest pace in over 12 years, CPI misses forecast
U.S. 10-year bond yields fall to 1-month low overnight
Philippine exports and imports surge in April
June 9 (Reuters) - Strong trade data vaulted Philippine shares to a three-month high on Wednesday, while Asian currencies stuck to tight ranges ahead of U.S. inflation data that could offer clues on the Federal Reserve's stance on tapering monetary stimulus.
Most of the region's currencies were flat to slightly lower, with the Taiwan dollar TWD=TP down 0.2%.
Asian investors have adopted a cautious view so far this week, as the dollar stands to gain if signs of price pressure prompt the Fed to start discussing early tapering at its policy meeting next week.
Economists reckon U.S. inflation in May will rise 0.4% from the previous month, but recent payrolls data showed job hiring did not grow as fast as expected and overnight 10-year Treasury yields US10YT=RR fell to a one-month low, where it continued to trade in Asian hours.
"Maybe bond markets are absolutely right. The inflation we are seeing ... is just transitory," Robert Carnell, the Asia-Pacific head of research for ING, said.
In China, the world's second-largest economy, producer prices rose at their fastest annual pace in over 12 years in May, largely due to higher commodity prices, though that was yet to seep into consumer inflation.
"Despite risks of some degree of lagged spillover from PPI, the wider point is that the ability of China's supply-side to absorb excessive cost-push mitigates inflation risks," Mizuho Bank said in a note.
Shanghai's composite index .SSEC edged higher, while the yuan CNY=CFXS gained 0.1%, in line with the broader region.
Philippine stocks .PSI stood out from a mixed picture in Asia with a 1.4% jump, as both imports and exports surged in April off lower bases last year.
The trade deficit came in at $2.73 billion, with ING saying the Philippine current account surplus may move closer to a deficit by year-end. The peso PHP= edged higher.
HIGHLIGHTS:
** Ayala Corp AC.PS, Ayala Land Inc ALI.PS and Jollibee Foods Corp JFC.PS were the top gainers in the Philippines
** Indonesian 10-year benchmark yields fell 1.09 basis points to 6.435%
** Indonesia raises 34 trln rupiah from debt auction, above target
Asia stock indexes and currencies at 0627 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.02
-5.69
.N225
-0.35
5.16
China
CNY=CFXS
+0.10
+2.10
.SSEC
0.09
3.17
India
INR=IN
-0.14
+0.10
.NSEI
0.28
12.89
Indonesia
IDR=
-0.07
-1.54
.JKSE
0.15
0.49
Malaysia
MYR=
+0.05
-2.36
.KLSE
-0.19
-2.60
Philippines
PHP=
+0.08
+0.52
.PSI
1.36
-3.32
S.Korea
KRW=KFTC
-0.09
-2.60
.KS11
-0.86
12.06
Singapore
SGD=
-0.05
-0.23
.STI
-0.26
11.08
Taiwan
TWD=TP
-0.21
+2.60
.TWII
-0.64
15.16
Thailand
THB=TH
+0.19
-3.82
.SETI
0.65
12.01
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Simon Cameron-Moore and Devika Syamnath)
((NikhilKurian.Nainan@thomsonreuters.com; Twitter: @NikhilKurianN))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | China PPI rises at fastest pace in over 12 years, CPI misses forecast U.S. 10-year bond yields fall to 1-month low overnight Philippine exports and imports surge in April June 9 (Reuters) - Strong trade data vaulted Philippine shares to a three-month high on Wednesday, while Asian currencies stuck to tight ranges ahead of U.S. inflation data that could offer clues on the Federal Reserve's stance on tapering monetary stimulus. The inflation we are seeing ... is just transitory," Robert Carnell, the Asia-Pacific head of research for ING, said. In China, the world's second-largest economy, producer prices rose at their fastest annual pace in over 12 years in May, largely due to higher commodity prices, though that was yet to seep into consumer inflation. | China PPI rises at fastest pace in over 12 years, CPI misses forecast U.S. 10-year bond yields fall to 1-month low overnight Philippine exports and imports surge in April June 9 (Reuters) - Strong trade data vaulted Philippine shares to a three-month high on Wednesday, while Asian currencies stuck to tight ranges ahead of U.S. inflation data that could offer clues on the Federal Reserve's stance on tapering monetary stimulus. ** Ayala Corp AC.PS, Ayala Land Inc ALI.PS and Jollibee Foods Corp JFC.PS were the top gainers in the Philippines ** Indonesian 10-year benchmark yields fell 1.09 basis points to 6.435% ** Indonesia raises 34 trln rupiah from debt auction, above target Asia stock indexes and currencies at 0627 GMT The inflation we are seeing ... is just transitory," Robert Carnell, the Asia-Pacific head of research for ING, said. | China PPI rises at fastest pace in over 12 years, CPI misses forecast U.S. 10-year bond yields fall to 1-month low overnight Philippine exports and imports surge in April June 9 (Reuters) - Strong trade data vaulted Philippine shares to a three-month high on Wednesday, while Asian currencies stuck to tight ranges ahead of U.S. inflation data that could offer clues on the Federal Reserve's stance on tapering monetary stimulus. In China, the world's second-largest economy, producer prices rose at their fastest annual pace in over 12 years in May, largely due to higher commodity prices, though that was yet to seep into consumer inflation. ** Ayala Corp AC.PS, Ayala Land Inc ALI.PS and Jollibee Foods Corp JFC.PS were the top gainers in the Philippines ** Indonesian 10-year benchmark yields fell 1.09 basis points to 6.435% ** Indonesia raises 34 trln rupiah from debt auction, above target Asia stock indexes and currencies at 0627 GMT | China PPI rises at fastest pace in over 12 years, CPI misses forecast U.S. 10-year bond yields fall to 1-month low overnight Philippine exports and imports surge in April June 9 (Reuters) - Strong trade data vaulted Philippine shares to a three-month high on Wednesday, while Asian currencies stuck to tight ranges ahead of U.S. inflation data that could offer clues on the Federal Reserve's stance on tapering monetary stimulus. The inflation we are seeing ... is just transitory," Robert Carnell, the Asia-Pacific head of research for ING, said. In China, the world's second-largest economy, producer prices rose at their fastest annual pace in over 12 years in May, largely due to higher commodity prices, though that was yet to seep into consumer inflation. |
34966.0 | 2021-06-08 00:00:00 UTC | CANADA STOCKS - TSX rises 0.15% to 20,065.92 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.15-to-20065.92-2021-06-08 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.15 percent to 20,065.92
* Leading the index were Real Matters Inc , up 6.8%, Air Canada AC.TO, up 6.3%, and CAE Inc CAE.TO, higher by 5%.
* Lagging shares were Spin Master Corp TOY.TO, down 4.5%, Dundee Precious Metals Inc DPM.TO, down 3.3%, and Pan American Silver Corp PAAS.TO, lower by 3.2%.
* On the TSX 125 issues rose and 98 fell as a 1.3-to-1 ratio favored advancers. There were 29 new highs and no new lows, with total volume of 246.5 million shares.
* The most heavily traded shares by volume were Blackberry Ltd BB.TO, Suncor Energy Inc SU.TO and Bce Inc BCE.TO.
* The TSX's energy group .SPTTEN rose 0.60 points, or 0.4%, while the financials sector .SPTTFS slipped 0.30 points, or 0.1%.
* West Texas Intermediate crude futures CLc1 rose 1.16%, or $0.8, to $70.03 a barrel. Brent crude LCOc1 rose 0.95%, or $0.68, to $72.17 O/R
* The TSX is up 15.1% for the year.
This summary was machine generated June 8 at 21:08 GMT.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Toronto Stock Exchange's TSX rises 0.15 percent to 20,065.92 * Leading the index were Real Matters Inc , up 6.8%, Air Canada AC.TO, up 6.3%, and CAE Inc CAE.TO, higher by 5%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Suncor Energy Inc SU.TO and Bce Inc BCE.TO. This summary was machine generated June 8 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.15 percent to 20,065.92 * Leading the index were Real Matters Inc , up 6.8%, Air Canada AC.TO, up 6.3%, and CAE Inc CAE.TO, higher by 5%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Suncor Energy Inc SU.TO and Bce Inc BCE.TO. This summary was machine generated June 8 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.15 percent to 20,065.92 * Leading the index were Real Matters Inc , up 6.8%, Air Canada AC.TO, up 6.3%, and CAE Inc CAE.TO, higher by 5%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Suncor Energy Inc SU.TO and Bce Inc BCE.TO. This summary was machine generated June 8 at 21:08 GMT. | * The Toronto Stock Exchange's TSX rises 0.15 percent to 20,065.92 * Leading the index were Real Matters Inc , up 6.8%, Air Canada AC.TO, up 6.3%, and CAE Inc CAE.TO, higher by 5%. * The most heavily traded shares by volume were Blackberry Ltd BB.TO, Suncor Energy Inc SU.TO and Bce Inc BCE.TO. This summary was machine generated June 8 at 21:08 GMT. |
34967.0 | 2021-06-07 00:00:00 UTC | CANADA STOCKS-TSX futures flat as weak commodities dent sentiment | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-flat-as-weak-commodities-dent-sentiment-2021-06-07 | nan | nan | June 7 (Reuters) - Futures for Canada's main stock index were little changed on Monday, a day after the main index breached the 20,000 mark, as weakness in commodities dented investor sentiment.
Spot gold XAU= fell 0.25% on firmer U.S. dollar, while Brent Crude LCOc1 shed 0.54% and West Texas Intermediate CLc1 dropped 0.49%, pressured by the prospect of higher Iranian exports.
June futures on the S&P/TSX index SXFc1 were up 0.02% at 7:00 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.44% higher at 20,029.19 on Friday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.09% at 7:00 a.m. ET, while S&P 500 e-mini futures ESc1 were down 0.11% and Nasdaq 100 e-mini futures NQc1 were down 0.33%.
TOP STORIES TOP/CAN
Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April.
A landmark deal by the Group of Seven advanced economies to pursue higher global taxation on large companies shows it is possible to end the "race to the bottom" and will benefit Canada, Canada's finance minister said on Saturday.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Advantage Oil & Gas Ltd AAV.TO: TD Securities raises target price to C$3.25 from C$2.5
Boardwalk REIT BEI_u.TO: TD Securities raises target price to C$48 from C$47
Canadian Western Bank CWB.TO: CIBC raises to "outperform" from "neutral"
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1885.16; -0.25% GOL/
US crude CLc1: $69.3; -0.49% O/R
Brent crude LCOc1: $71.51; -0.54% O/R
U.S. ECONOMIC DATA DUE ON MONDAY
1000 Employment Trends for May: Prior 105.40
1500 Consumer credit for April: Expected 21.00 bln; prior 25.84 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.21)
(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. A landmark deal by the Group of Seven advanced economies to pursue higher global taxation on large companies shows it is possible to end the "race to the bottom" and will benefit Canada, Canada's finance minister said on Saturday. June 7 (Reuters) - Futures for Canada's main stock index were little changed on Monday, a day after the main index breached the 20,000 mark, as weakness in commodities dented investor sentiment. | June 7 (Reuters) - Futures for Canada's main stock index were little changed on Monday, a day after the main index breached the 20,000 mark, as weakness in commodities dented investor sentiment. Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. A landmark deal by the Group of Seven advanced economies to pursue higher global taxation on large companies shows it is possible to end the "race to the bottom" and will benefit Canada, Canada's finance minister said on Saturday. | June 7 (Reuters) - Futures for Canada's main stock index were little changed on Monday, a day after the main index breached the 20,000 mark, as weakness in commodities dented investor sentiment. Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. A landmark deal by the Group of Seven advanced economies to pursue higher global taxation on large companies shows it is possible to end the "race to the bottom" and will benefit Canada, Canada's finance minister said on Saturday. | June 7 (Reuters) - Futures for Canada's main stock index were little changed on Monday, a day after the main index breached the 20,000 mark, as weakness in commodities dented investor sentiment. Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. A landmark deal by the Group of Seven advanced economies to pursue higher global taxation on large companies shows it is possible to end the "race to the bottom" and will benefit Canada, Canada's finance minister said on Saturday. |
34968.0 | 2021-06-06 00:00:00 UTC | Air Canada executives to return bonuses after government aid outcry | AC | https://www.nasdaq.com/articles/air-canada-executives-to-return-bonuses-after-government-aid-outcry-2021-06-06 | nan | nan | TORONTO, June 6 (Reuters) - Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April.
Air Canada said chief executive, executive vice presidents and its former chief executive, who retired in February, would return the bonuses and share appreciation units "in order to help address this unintended consequence."
The carrier said it gave out C$10 million in bonuses, adding that much of it went to middle managers.
In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. About the same time, the airline made the bonus awards to top staff.
Canadian Finance Minister Chrystia Freeland called the bonuses "inappropriate" last week.
"While this situation could have been entirely avoided by Air Canada, we acknowledge this step in the right direction," Freeland and Transport Minister Omar Alhgabra said in a joint statement on Sunday. "Canadians are right to expect responsible corporate behaviour — particularly with respect to executive compensation — from companies receiving government financial support during the pandemic."
(Writing by Amran Abocar. Editing by Gerry Doyle)
((amran.abocar@thomsonreuters.com; + 416 941 1685; Reuters Messaging: amran.abocar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | TORONTO, June 6 (Reuters) - Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. "While this situation could have been entirely avoided by Air Canada, we acknowledge this step in the right direction," Freeland and Transport Minister Omar Alhgabra said in a joint statement on Sunday. In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | TORONTO, June 6 (Reuters) - Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. "While this situation could have been entirely avoided by Air Canada, we acknowledge this step in the right direction," Freeland and Transport Minister Omar Alhgabra said in a joint statement on Sunday. | TORONTO, June 6 (Reuters) - Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. "While this situation could have been entirely avoided by Air Canada, we acknowledge this step in the right direction," Freeland and Transport Minister Omar Alhgabra said in a joint statement on Sunday. | TORONTO, June 6 (Reuters) - Top executives at Air Canada AC.TO will return their bonuses and share awards, the carrier said on Sunday, in response to "public disappointment" over executive compensation at the airline, which received government aid in April. In April, Air Canada, struggling with a collapse in traffic because of the COVID-19 pandemic, reached a deal on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. "While this situation could have been entirely avoided by Air Canada, we acknowledge this step in the right direction," Freeland and Transport Minister Omar Alhgabra said in a joint statement on Sunday. |
34969.0 | 2021-05-26 00:00:00 UTC | Canadian tour operator Transat names Annick Guérard as CEO | AC | https://www.nasdaq.com/articles/canadian-tour-operator-transat-names-annick-guerard-as-ceo-2021-05-26 | nan | nan | Adds details, background
May 26 (Reuters) - Transat AT TRZ.TO on Wednesday named Annick Guérard as the Canadian tour operator's chief executive officer, replacing Jean-Marc Eustache who will retire.
Guérard, who takes over effective May 27, has been the company's chief operating officer since November 2017.
The company last month said it would borrow up to C$700 million ($569.71 million) from the Canadian government and use a portion of the funds to reimburse customers whose travel plans had to be canceled.
Transat was already struggling due to the COVID-19 pandemic when Air Canada AC.TO dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat.
Guérard will join the company's board and M. Bachand will succeed Eustache as chairman, the company said.
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Shailesh Kuber)
((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details, background May 26 (Reuters) - Transat AT TRZ.TO on Wednesday named Annick Guérard as the Canadian tour operator's chief executive officer, replacing Jean-Marc Eustache who will retire. Transat was already struggling due to the COVID-19 pandemic when Air Canada AC.TO dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat. Guérard will join the company's board and M. Bachand will succeed Eustache as chairman, the company said. | Adds details, background May 26 (Reuters) - Transat AT TRZ.TO on Wednesday named Annick Guérard as the Canadian tour operator's chief executive officer, replacing Jean-Marc Eustache who will retire. Transat was already struggling due to the COVID-19 pandemic when Air Canada AC.TO dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat. Guérard will join the company's board and M. Bachand will succeed Eustache as chairman, the company said. | Adds details, background May 26 (Reuters) - Transat AT TRZ.TO on Wednesday named Annick Guérard as the Canadian tour operator's chief executive officer, replacing Jean-Marc Eustache who will retire. Transat was already struggling due to the COVID-19 pandemic when Air Canada AC.TO dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat. Guérard will join the company's board and M. Bachand will succeed Eustache as chairman, the company said. | Adds details, background May 26 (Reuters) - Transat AT TRZ.TO on Wednesday named Annick Guérard as the Canadian tour operator's chief executive officer, replacing Jean-Marc Eustache who will retire. Transat was already struggling due to the COVID-19 pandemic when Air Canada AC.TO dropped its merger plans with the company in April, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat. Guérard will join the company's board and M. Bachand will succeed Eustache as chairman, the company said. |
34970.0 | 2021-05-26 00:00:00 UTC | EMERGING MARKETS-Philippine stocks jump nearly 3%, dovish Fed boosts Asian currencies | AC | https://www.nasdaq.com/articles/emerging-markets-philippine-stocks-jump-nearly-3-dovish-fed-boosts-asian-currencies-2021 | nan | nan | By Arundhati Dutta
May 26 (Reuters) - Philippine shares were headed for their best day in nearly four months on Wednesday, with much of the region being closed for a holiday, while the U.S. Federal Reserve's dovish stance on rates boosted Asia's emerging currencies.
The South Korean won KRW=KFTC led the region's gains with a 0.5% rise, followed by the Taiwan dollar TWD=TP, up 0.3%, as the dollar wallowed around January lows.
U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. [USN?]
The Philippine benchmark index .PSI surged 2.9%, its biggest intraday jump since Feb. 1.
Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%.
Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close.
Neighbouring Singapore, Malaysia, Indonesia and Thailand markets were closed for a holiday.
Stocks in Taiwan .TWII edged higher, while South Korean shares .KS11 dipped.
Bank of Korea's rate decision is expected on Thursday, where it is seen keeping interest rates at record lows for the rest of 2021 to combat COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery.
HIGHLIGHTS:
** Industrial and real estate sectors drive Philippine shares higher
**Philippine 10-year benchmark yield is unchanged at 3.951%P
Asia stock indexes and currencies at 0706 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.09
-5.16
.N225
#VALUE!
#VALUE!
China
CNY=CFXS
+0.26
+2.08
.SSEC
0.26
3.39
India
INR=IN
-
+0.41
.NSEI
0.54
9.37
Indonesia
IDR=
-
-1.99
.JKSE
-
-2.73
Malaysia
MYR=
-
-2.90
.KLSE
-
-3.04
Philippines
PHP=
-0.07
-0.24
.PSI
2.33
-11.18
S.Korea
KRW=KFTC
+0.46
-2.75
.KS11
-0.09
10.26
Singapore
SGD=
-
-0.21
.STI
-
10.63
Taiwan
TWD=TP
+0.27
+2.45
.TWII
0.29
12.97
Thailand
THB=TH
-
-4.43
.SETI
-
8.23
(Reporting by Arundhati Dutta in Bengaluru; Editing by Rashmi Aich)
((Arundhati.Dutta@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. |
34971.0 | 2021-05-26 00:00:00 UTC | EMERGING MARKETS-Philippine stocks jump nearly 3%, dovish Fed boosts Asian currencies | AC | https://www.nasdaq.com/articles/emerging-markets-philippine-stocks-jump-nearly-3-dovish-fed-boosts-asian-currencies-2021-0 | nan | nan | By Arundhati Dutta
May 26 (Reuters) - Philippine shares were headed for their best day in nearly four months on Wednesday, with much of the region being closed for a holiday, while the U.S. Federal Reserve's dovish stance on rates boosted Asia's emerging currencies.
The South Korean won KRW=KFTC led the region's gains with a 0.5% rise, followed by the Taiwan dollar TWD=TP, up 0.3%, as the dollar wallowed around January lows.
U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. [USN?]
The Philippine benchmark index .PSI surged 2.9%, its biggest intraday jump since Feb. 1.
Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%.
Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close.
Neighbouring Singapore, Malaysia, Indonesia and Thailand markets were closed for a holiday.
Stocks in Taiwan .TWII edged higher, while South Korean shares .KS11 dipped.
Bank of Korea's rate decision is expected on Thursday, where it is seen keeping interest rates at record lows for the rest of 2021 to combat COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery.
HIGHLIGHTS:
** Industrial and real estate sectors drive Philippine shares higher
**Philippine 10-year benchmark yield is unchanged at 3.951%P
Asia stock indexes and currencies at 0706 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
-0.09
-5.16
.N225
#VALUE!
#VALUE!
China
CNY=CFXS
+0.26
+2.08
.SSEC
0.26
3.39
India
INR=IN
-
+0.41
.NSEI
0.54
9.37
Indonesia
IDR=
-
-1.99
.JKSE
-
-2.73
Malaysia
MYR=
-
-2.90
.KLSE
-
-3.04
Philippines
PHP=
-0.07
-0.24
.PSI
2.33
-11.18
S.Korea
KRW=KFTC
+0.46
-2.75
.KS11
-0.09
10.26
Singapore
SGD=
-
-0.21
.STI
-
10.63
Taiwan
TWD=TP
+0.27
+2.45
.TWII
0.29
12.97
Thailand
THB=TH
-
-4.43
.SETI
-
8.23
(Reporting by Arundhati Dutta in Bengaluru; Editing by Rashmi Aich)
((Arundhati.Dutta@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. | U.S. Federal Reserve officials continued to insist on Tuesday that monetary policy would stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding 2%, while Ayala Corp AC.PS jumping 3.2%. Philippine equities are the worst hit across Asia so far this year, down nearly 11% in 2021 as of last close. |
34972.0 | 2021-05-26 00:00:00 UTC | EMERGING MARKETS-Philippine stocks surge nearly 3%, Asian currencies lifted by weaker dollar | AC | https://www.nasdaq.com/articles/emerging-markets-philippine-stocks-surge-nearly-3-asian-currencies-lifted-by-weaker-0 | nan | nan | By Arundhati Dutta
May 26 (Reuters) - Philippine shares were headed for the best day in nearly four months on Wednesday in light trading as much of the region was closed for holidays, while a weaker U.S. dollar lifted Asia's emerging currencies.
The South Korean won KRW=KFTC and Taiwan dollar TWD=TP led the region's gains, rising 0.5% and 0.3%, respectively, as the dollar wallowed around January lows.
U.S. Federal Reserve officials continue to insist that monetary policy will stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries.
The Philippine benchmark index .PSI climbed up 2.8%, though trade volumes were about half their 30-day average. The index hit its highest level since May 5.
Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding nearly 5%, while Ayala Corp AC.PS jumped 3.7%.
The Philippines has the worst-hit stock market in emerging Asia this year, having lost nearly 11% in 2021 as of last close.
Neighbouring Singapore, Malaysia, Indonesia and Thailand were closed for a holiday.
Elsewhere, stocks in Taiwan .TWII inched higher. South Korean shares .KS11, however, dipped.
Bank of Korea's rate decision is expected on Thursday, where it is seen keeping interest rates at record lows for the rest of 2021 to combat COVID-19 uncertainties and worries about financial imbalances offset signs of a broader economic recovery.
HIGHLIGHTS:
** Industrial and real estate sectors drive Philippine shares higher
**Philippine 10-year benchmark yield is unchanged at 3.951%
Asia stock indexes and currencies at 0430 GMT
COUNTRY
FX RIC
FX DAILY %
FX YTD %
INDEX
STOCKS DAILY %
STOCKS YTD %
Japan
JPY=
+0.00
-5.08
.N225
#VALUE!
#VALUE!
China
CNY=CFXS
+0.27
+2.09
.SSEC
0.29
3.42
India
INR=IN
-
+0.41
.NSEI
0.06
8.84
Indonesia
IDR=
-
-1.99
.JKSE
-
-2.73
Malaysia
MYR=
-
-2.90
.KLSE
-
-3.04
Philippines
PHP=
-0.02
-0.19
.PSI
2.61
-10.94
S.Korea
KRW=KFTC
+0.53
-2.68
.KS11
-0.19
10.16
Singapore
SGD=
-
-0.17
.STI
-
10.63
Taiwan
TWD=TP
+0.28
+2.46
.TWII
0.08
12.64
Thailand
THB=TH
-
-4.43
.SETI
-
8.23
(Reporting by Arundhati Dutta in Bengaluru. Editing by Gerry Doyle)
((Arundhati.Dutta@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | U.S. Federal Reserve officials continue to insist that monetary policy will stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding nearly 5%, while Ayala Corp AC.PS jumped 3.7%. By Arundhati Dutta May 26 (Reuters) - Philippine shares were headed for the best day in nearly four months on Wednesday in light trading as much of the region was closed for holidays, while a weaker U.S. dollar lifted Asia's emerging currencies. | U.S. Federal Reserve officials continue to insist that monetary policy will stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding nearly 5%, while Ayala Corp AC.PS jumped 3.7%. By Arundhati Dutta May 26 (Reuters) - Philippine shares were headed for the best day in nearly four months on Wednesday in light trading as much of the region was closed for holidays, while a weaker U.S. dollar lifted Asia's emerging currencies. | U.S. Federal Reserve officials continue to insist that monetary policy will stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding nearly 5%, while Ayala Corp AC.PS jumped 3.7%. By Arundhati Dutta May 26 (Reuters) - Philippine shares were headed for the best day in nearly four months on Wednesday in light trading as much of the region was closed for holidays, while a weaker U.S. dollar lifted Asia's emerging currencies. | U.S. Federal Reserve officials continue to insist that monetary policy will stay accommodative despite inflationary pressures, weighing on the dollar and U.S. Treasuries. Large cap industrial and real estate stocks drove most of the gains, with Megaworld Corp MEG.PS adding nearly 5%, while Ayala Corp AC.PS jumped 3.7%. By Arundhati Dutta May 26 (Reuters) - Philippine shares were headed for the best day in nearly four months on Wednesday in light trading as much of the region was closed for holidays, while a weaker U.S. dollar lifted Asia's emerging currencies. |
34973.0 | 2021-05-25 00:00:00 UTC | CANADA STOCKS-TSX rises on energy boost | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-on-energy-boost-2021-05-25 | nan | nan | May 25 (Reuters) - Canada's main stock index rose on Tuesday, powered by gains in energy stocks as oil prices rose on easing expectations of higher supply from crude exporter Iran.
* The energy sector .SPTTEN climbed 1.0% as U.S. crude CLc1 prices were up 0.2% a barrel, while Brent crude LCOc1 was unchanged. O/R
* At 09:18 a.m. ET (13:48 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 115.01 points, or 0.59%, at 19,642.31.
* The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week's 6-year high.
* Steelmaker Algoma Steel is becoming a publicly listed company through a merger agreed with New York-based blank-check firm Legato Merger Corp LEGO.O in a deal that will value the combined company at more than $1 billion.
* The financials sector .SPTTFS gained 0.7%. The industrials sector .GSPTTIN rose 0.8%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures GCc1 were down 0.2% an ounce. GOL/
* On the TSX, 118 issues were higher, while 106 issues declined for a 1.11-to-1 ratio favoring gainers, with 23.87 million shares traded.
* The largest percentage gainers on the TSX were Ivanhoe Mines Ltd , which jumped 6.2%, and Toromont Industries , which rose 5.4%.
* Finning International Inc fell 6.5%, the most on the TSX, after BMO cut its target price.
* The second-biggest decliner was Trillium Therapeutics , down 3.1%.
* The most heavily traded shares by volume were Air Canada and The Supreme Cannabis Company .
* The TSX posted 16 new 52-week highs and no new lows.
* Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares.
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Aditya Soni)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week's 6-year high. * Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares. * The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures GCc1 were down 0.2% an ounce. | * Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares. * The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week's 6-year high. May 25 (Reuters) - Canada's main stock index rose on Tuesday, powered by gains in energy stocks as oil prices rose on easing expectations of higher supply from crude exporter Iran. | * The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week's 6-year high. * Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares. May 25 (Reuters) - Canada's main stock index rose on Tuesday, powered by gains in energy stocks as oil prices rose on easing expectations of higher supply from crude exporter Iran. | * Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares. * The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week's 6-year high. May 25 (Reuters) - Canada's main stock index rose on Tuesday, powered by gains in energy stocks as oil prices rose on easing expectations of higher supply from crude exporter Iran. |
34974.0 | 2021-05-07 00:00:00 UTC | Validea Peter Lynch Strategy Daily Upgrade Report - 5/7/2021 | AC | https://www.nasdaq.com/articles/validea-peter-lynch-strategy-daily-upgrade-report-5-7-2021-2021-05-07 | nan | nan | The following are today's upgrades for Validea's P/E/Growth Investor model based on the published strategy of Peter Lynch. This strategy looks for stocks trading at a reasonable price relative to earnings growth that also possess strong balance sheets.
REVOLVE GROUP INC (RVLV) is a mid-cap growth stock in the Retail (Apparel) industry. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Revolve Group, Inc. is an online fashion retailer for Millennial and Generation Z consumers. The Company's offering includes over 45,000 apparel, footwear, accessories and beauty style products sourced from more than 500 third party brands, alongside the Company's owned brands. It sells merchandise through two segments: REVOLVE and FORWARD. REVOLVE offers a curated assortment of apparel and footwear, accessories and beauty products. FORWARD offers a full assortment of luxury brands. It's platform connects a community of engaged consumers with it's global network of over 4,500 fashion influencers. The Company's apparel offerings are primarily for women in various categories, which include dresses, tops, active wear, denim, intimates, jackets and coats, jumpsuits, loungewear, pants, rompers, shorts, skirts, sweaters and knits and swimwear.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: NEUTRAL
EPS GROWTH RATE: FAIL
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of REVOLVE GROUP INC
Full Guru Analysis for RVLV
Full Factor Report for RVLV
ASSOCIATED CAPITAL GROUP INC (AC) is a small-cap value stock in the Investment Services industry. The rating according to our strategy based on Peter Lynch changed from 87% to 93% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Associated Capital Group, Inc. is a parent operating company for the spin-off of GAMCO Investors, Inc.'s (GAMCO's) alternative investment management business, institutional research services operations and certain cash and other assets. The Company, through its subsidiaries, provides alternative investment management services and institutional research services, as well as management of its investment portfolio. It operates through the investment advisory and asset management business segment. Gabelli & Company Investment Advisers, Inc. (GCIA) is a subsidiary of the Company. GCIA and its subsidiary, Gabelli & Partners, LLC (Gabelli & Partners), collectively serve as general partners, co-general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts. It primarily manages assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: NEUTRAL
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: NEUTRAL
EQUITY/ASSETS RATIO: PASS
RETURN ON ASSETS: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of ASSOCIATED CAPITAL GROUP INC
Full Guru Analysis for AC
Full Factor Report for AC
FOX FACTORY HOLDING CORP (FOXF) is a mid-cap growth stock in the Auto & Truck Parts industry. The rating according to our strategy based on Peter Lynch changed from 0% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company's products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles. The Company's brands include FOX, FOX RACING SHOX and RACE FACE. The Company's products include 34 Factory Series FLOAT FIT4, which provides external adjustability with its fourth-generation FOX Isolated Technology and closed-cartridge damper, and includes a self-adjusting negative chamber air spring; X2 technology, utilized in its Factory Series FLOAT and DH rear shocks; PODIUM Internal Bypass, and X2 technology utilized in its 2.5 PODIUM shocks for side-by-sides that feature high and low speed rebound adjustment, high and low speed compression adjustment, and a dual-rate spring for the rear shocks.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: FAIL
SALES AND P/E RATIO: NEUTRAL
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of FOX FACTORY HOLDING CORP
Full Guru Analysis for FOXF
Full Factor Report for FOXF
REGIONAL MANAGEMENT CORP (RM) is a small-cap value stock in the Consumer Financial Services industry. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Regional Management Corp. is a diversified consumer finance company. The Company provides an array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans, and optional payment and collateral protection insurance products. It offers small loans ranging from $500 to $2,500, through its branches. It offers large installment loans with cash proceeds to the customer ranging from $2,501 to $20,000. As of December 31, 2016, automobile loans were offered in amounts up to $27,500. As of December 31, 2016, retail loans were indirect installment loans structured as retail installment sales contracts that were offered in amounts of up to $7,500. Optional Payment and Collateral Protection Insurance Products offer customers a number of optional payment and collateral protection insurance products.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
YIELD ADJUSTED P/E TO GROWTH (PEG) RATIO: PASS
EARNINGS PER SHARE: PASS
TOTAL DEBT/EQUITY RATIO: NEUTRAL
EQUITY/ASSETS RATIO: PASS
RETURN ON ASSETS: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of REGIONAL MANAGEMENT CORP
Full Guru Analysis for RM
Full Factor Report for RM
BUILDERS FIRSTSOURCE, INC. (BLDR) is a large-cap growth stock in the Constr. - Supplies & Fixtures industry. The rating according to our strategy based on Peter Lynch changed from 74% to 93% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Builders FirstSource, Inc. is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company's operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States. It offers an integrated solution to its customers providing manufacturing, supply and installation of a range of structural and related building products. Its manufactured products include factory-built roof and floor trusses, wall panels and stairs, vinyl windows, custom millwork and trim, as well as engineered wood that it designs, cuts and assembles for each home. It assembles interior and exterior doors into pre-hung units. Additionally, it supplies customers with offering of professional grade building products, such as dimensional lumber and lumber sheet goods, and various window, door and millwork lines.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of BUILDERS FIRSTSOURCE, INC.
Full Guru Analysis for BLDR
Full Factor Report for BLDR
COMPANHIA BRASILEIRA DE DISTRIBUICAO (CBD) is a small-cap value stock in the Retail (Grocery) industry. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Companhia Brasileira de Distribuicao, directly or through its subsidiaries, is engaged in the retail of food, clothing, home appliances, electronics and other items through its chain of hypermarkets, supermarkets, specialized stores and department stores principally under the trade names Pao de Acucar, Minuto Pao de Acucar, Extra Hiper, Extra Super, Minimercado Extra, Assai an the neighborhood shopping mall brand Conviva. The Company's segments include Retail, and Cash and carry segment. The Company's Retail segment includes the banners Pao de Acucar, Minuto Pao de Acucar, Extra Hiper, Extra Supermercado, Minimercado Extra, Posto Extra, Drogaria Extra and GPA Malls & Properties. Its Cash & Carry segment includes the brand Assai. The Company is engaged in operations of retail stores located in approximately 20 states and the Federal District of Brazil.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
YIELD ADJUSTED P/E TO GROWTH (PEG) RATIO: PASS
EARNINGS PER SHARE: PASS
TOTAL DEBT/EQUITY RATIO: FAIL
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of COMPANHIA BRASILEIRA DE DISTRIBUICAO
Full Guru Analysis for CBD
Full Factor Report for CBD
ARROW ELECTRONICS, INC. (ARW) is a mid-cap value stock in the Electronic Instr. & Controls industry. The rating according to our strategy based on Peter Lynch changed from 0% to 91% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Arrow Electronics, Inc. is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers. The Company's segments include the global components business; the global enterprise computing solutions (ECS) business, and corporate business segment. It distributes electronic components to original equipment manufacturers and contract manufacturers through its global components business segment. Through global ECS business segment, it provides enterprise computing solutions to value-added resellers. The Global components segment markets and distributes electronic components and provides a range of value-added capabilities. Global ECS' portfolio of computing solutions includes datacenter, cloud, security, and analytics solutions.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
INVENTORY TO SALES: PASS
YIELD ADJUSTED P/E TO GROWTH (PEG) RATIO: PASS
EARNINGS PER SHARE: PASS
TOTAL DEBT/EQUITY RATIO: PASS
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of ARROW ELECTRONICS, INC.
Full Guru Analysis for ARW
Full Factor Report for ARW
SUBURBAN PROPANE PARTNERS LP (SPH) is a small-cap value stock in the Oil & Gas Operations industry. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Suburban Propane Partners, L.P. is a marketer and distributor of a range of products. The Company specializes in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets. The Company's segments include Propane, Fuel Oil and Refined Fuels, Natural Gas and Electricity, and All Other. In support of its marketing and distribution operations, the Company installs and services a range of home comfort equipment, particularly in the areas of heating and ventilation. The Company conducts its business through Suburban Propane, L.P., which operates its propane business and assets (the Operating Partnership), and its direct and indirect subsidiaries. As of September 24, 2016, it had sold approximately 414.8 million gallons of propane and 30.9 million gallons of fuel oil and refined fuels to retail customers. The Company owns and operates a propane storage facility in Elk Grove, California.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E/GROWTH RATIO: PASS
SALES AND P/E RATIO: PASS
INVENTORY TO SALES: PASS
EPS GROWTH RATE: PASS
TOTAL DEBT/EQUITY RATIO: FAIL
FREE CASH FLOW: NEUTRAL
NET CASH POSITION: NEUTRAL
Detailed Analysis of SUBURBAN PROPANE PARTNERS LP
Full Guru Analysis for SPH
Full Factor Report for SPH
More details on Validea's Peter Lynch strategy
Peter Lynch Stock Ideas
About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. Lynch's common sense approach and quick wit made him one of the most quoted investors on Wall Street. ("Go for a business that any idiot can run -- because sooner or later, any idiot probably is going to run it," is one of his many pearls of wisdom.) Lynch's bestseller One Up on Wall Street is something of a "stocks for the everyman/everywoman", breaking his approach down into easy-to-understand concepts.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. The Company's apparel offerings are primarily for women in various categories, which include dresses, tops, active wear, denim, intimates, jackets and coats, jumpsuits, loungewear, pants, rompers, shorts, skirts, sweaters and knits and swimwear. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. Detailed Analysis of FOX FACTORY HOLDING CORP Full Guru Analysis for FOXF Full Factor Report for FOXF REGIONAL MANAGEMENT CORP (RM) is a small-cap value stock in the Consumer Financial Services industry. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. Detailed Analysis of SUBURBAN PROPANE PARTNERS LP Full Guru Analysis for SPH Full Factor Report for SPH More details on Validea's Peter Lynch strategy Peter Lynch Stock Ideas About Peter Lynch: Perhaps the greatest mutual fund manager of all-time, Lynch guided Fidelity Investment's Magellan Fund to a 29.2 percent average annual return from 1977 until his retirement in 1990, almost doubling the S&P 500's 15.8 percent yearly return over that time. | The following table summarizes whether the stock meets each of this strategy's tests. The rating according to our strategy based on Peter Lynch changed from 72% to 74% based on the firm’s underlying fundamentals and the stock’s valuation. It offers an integrated solution to its customers providing manufacturing, supply and installation of a range of structural and related building products. |
34975.0 | 2021-05-07 00:00:00 UTC | Air Canada reports a wider loss as COVID-19 restrictions limit travel | AC | https://www.nasdaq.com/articles/air-canada-reports-a-wider-loss-as-covid-19-restrictions-limit-travel-2021-05-07 | nan | nan | Adds executive comments on travel restrictions and demand, file photos available
May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss as tough government restrictions aimed at curbing the spread of COVID-19 weighed on air travel and drove the company to secure a C$5.9 billion ($4.84 billion) government aid package.
Speaking on an investor call, Air Canada executives said they assume the country's travel restrictions - which have been more strict than those implemented in neighboring United States - will ease somewhat by the fourth quarter.
Once that happens, they said travel patterns should be similar to those in the United States, where a fast vaccine rollout and falling numbers of COVID-19 cases have driven a surge in travel demand.
Meanwhile, the Montreal-based airline is focusing on cargo and domestic flights while slashing capacity for international travel and cutting costs.
Air Canada projects a net cash burn of between $13 million and $15 million per day in the second quarter of 2021.
Operating revenue fell to $729 million in the first quarter from $3.72 billion a year earlier.
Canada's largest carrier reported a loss of C$1.30 billion, compared with C$1.05 billion. Its shares rose 1.3% in early trading.
Hopes that travel restrictions, which include a hotel quarantine for anyone entering the country, would loosen in time for the peak summer travel season have faded as Canada grapples with a third wave of coronavirus infections.
($1 = 1.2184 Canadian dollars)
(Reporting By Allison Lampert, Shreyasee Raj, Tracy Rucinski; Editing by Shinjini Ganguli and Nick Zieminski)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds executive comments on travel restrictions and demand, file photos available May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss as tough government restrictions aimed at curbing the spread of COVID-19 weighed on air travel and drove the company to secure a C$5.9 billion ($4.84 billion) government aid package. Meanwhile, the Montreal-based airline is focusing on cargo and domestic flights while slashing capacity for international travel and cutting costs. Once that happens, they said travel patterns should be similar to those in the United States, where a fast vaccine rollout and falling numbers of COVID-19 cases have driven a surge in travel demand. | Adds executive comments on travel restrictions and demand, file photos available May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss as tough government restrictions aimed at curbing the spread of COVID-19 weighed on air travel and drove the company to secure a C$5.9 billion ($4.84 billion) government aid package. Once that happens, they said travel patterns should be similar to those in the United States, where a fast vaccine rollout and falling numbers of COVID-19 cases have driven a surge in travel demand. Meanwhile, the Montreal-based airline is focusing on cargo and domestic flights while slashing capacity for international travel and cutting costs. | Adds executive comments on travel restrictions and demand, file photos available May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss as tough government restrictions aimed at curbing the spread of COVID-19 weighed on air travel and drove the company to secure a C$5.9 billion ($4.84 billion) government aid package. Once that happens, they said travel patterns should be similar to those in the United States, where a fast vaccine rollout and falling numbers of COVID-19 cases have driven a surge in travel demand. Meanwhile, the Montreal-based airline is focusing on cargo and domestic flights while slashing capacity for international travel and cutting costs. | Adds executive comments on travel restrictions and demand, file photos available May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss as tough government restrictions aimed at curbing the spread of COVID-19 weighed on air travel and drove the company to secure a C$5.9 billion ($4.84 billion) government aid package. Once that happens, they said travel patterns should be similar to those in the United States, where a fast vaccine rollout and falling numbers of COVID-19 cases have driven a surge in travel demand. Meanwhile, the Montreal-based airline is focusing on cargo and domestic flights while slashing capacity for international travel and cutting costs. |
34976.0 | 2021-05-07 00:00:00 UTC | CANADA STOCKS-TSX futures rise on gold boost ahead of jobs data | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-rise-on-gold-boost-ahead-of-jobs-data-2021-05-07 | nan | nan | May 7 (Reuters) - Futures for Canada's main stock index were higher on Friday as gold prices rose, while investors awaited a reading on employment data to gauge the pace of economic recovery in the country.
Gold futures GCc2 gained 0.25% to $1,820 per ounce at 07:00am ET. Gold prices eye best week in six months, boosted by a weaker dollar and lower Treasury yields. GOL/
June-quarter futures on the S&P/TSX index SXFc1 were up 0.41% at 7:03 a.m. ET.
Data for Canada's unemployment rate for the month of April is due at 8:30 a.m. ET
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 0.1% lower at 19,290.98 on Thursday. .TO
Dow e-minis 1YMcv1 were up 0.27%, at 07:00 a.m. ET, while S&P 500 e-minis EScv1 0.26%, and Nasdaq 100 e-minis NQcv1 were up 0.33%. .N
TOP STORIES TOP/CAN
Cenovus Energy Inc CVE.TO swung to a first-quarter profit from the previous three-month period, as global crude recovered on the back of easing COVID-19 restrictions and vaccine rollouts.
Air Canada AC.TO reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 bln) government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic.
`ANALYST RESEARCH HIGHLIGHTS RCH/CA
Wheaton Precious Metals Corp WPM.TO: Berenberg raises target price to $49 from $47
AutoCanada Inc ACQ.TO: Scotiabank raises target price to C$55 from C$46
Imperial Oil Limited IMO.TO: RBC raises target price to C$39 from C$35
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1,820; +0.25% GOL/
US crude CLc1: $64.83; +0.2% O/R
Brent crude LCOc1: $68.24; +0.22% O/R
U.S. ECONOMIC DATA DUE ON FRIDAY
0830 Non-farm payrolls for Apr : Expected 978,000; Prior 916,000
0830 Private payrolls for Apr : Expected 893,000; Prior 780,000
0830 Manufacturing payrolls for Apr : Expected 55,000; Prior 53,000
0830 Government payrolls for Apr : Prior 136,000
0830 Unemployment rate for Apr : Expected 0.058; Prior 6.0%
0830 Average earnings mm for Apr : Expected 0; Prior -0.1%
0830 Average earnings yy for Apr : Expected -0.004; Prior 4.2%
0830 Average workweek hours for Apr : Expected 34.9 hrs; Prior 34.9 hrs
0830 Labor force participation for Apr : Prior 61.5%
0830 U6 underemployment for Apr : Prior 10.7%
1000 Wholesale inventory, R mm for Mar : Expected 0.014; Prior 1.4%
1000 Wholesale sales mm for Mar : Expected 0.01; Prior -0.8%
1500 Consumer credit for Mar : Expected 20.00 bln; Prior 27.58 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.22)
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Shailesh Kuber)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | May 7 (Reuters) - Futures for Canada's main stock index were higher on Friday as gold prices rose, while investors awaited a reading on employment data to gauge the pace of economic recovery in the country. Cenovus Energy Inc CVE.TO swung to a first-quarter profit from the previous three-month period, as global crude recovered on the back of easing COVID-19 restrictions and vaccine rollouts. Air Canada AC.TO reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 bln) government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. | May 7 (Reuters) - Futures for Canada's main stock index were higher on Friday as gold prices rose, while investors awaited a reading on employment data to gauge the pace of economic recovery in the country. 0830 Non-farm payrolls for Apr : Expected 978,000; Prior 916,000 0830 Private payrolls for Apr : Expected 893,000; Prior 780,000 0830 Manufacturing payrolls for Apr : Expected 55,000; Prior 53,000 0830 Government payrolls for Apr : Prior 136,000 0830 Unemployment rate for Apr : Expected 0.058; Prior 6.0% 0830 Average earnings mm for Apr : Expected 0; Prior -0.1% 0830 Average earnings yy for Apr : Expected -0.004; Prior 4.2% 0830 Average workweek hours for Apr : Expected 34.9 hrs; Prior 34.9 hrs 0830 Labor force participation for Apr : Prior 61.5% 0830 U6 underemployment for Apr : Prior 10.7% 1000 Wholesale inventory, R mm for Mar : Expected 0.014; Prior 1.4% 1000 Wholesale sales mm for Mar : Expected 0.01; Prior -0.8% 1500 Consumer credit for Mar : Expected 20.00 bln; Prior 27.58 bln Cenovus Energy Inc CVE.TO swung to a first-quarter profit from the previous three-month period, as global crude recovered on the back of easing COVID-19 restrictions and vaccine rollouts. | May 7 (Reuters) - Futures for Canada's main stock index were higher on Friday as gold prices rose, while investors awaited a reading on employment data to gauge the pace of economic recovery in the country. 0830 Non-farm payrolls for Apr : Expected 978,000; Prior 916,000 0830 Private payrolls for Apr : Expected 893,000; Prior 780,000 0830 Manufacturing payrolls for Apr : Expected 55,000; Prior 53,000 0830 Government payrolls for Apr : Prior 136,000 0830 Unemployment rate for Apr : Expected 0.058; Prior 6.0% 0830 Average earnings mm for Apr : Expected 0; Prior -0.1% 0830 Average earnings yy for Apr : Expected -0.004; Prior 4.2% 0830 Average workweek hours for Apr : Expected 34.9 hrs; Prior 34.9 hrs 0830 Labor force participation for Apr : Prior 61.5% 0830 U6 underemployment for Apr : Prior 10.7% 1000 Wholesale inventory, R mm for Mar : Expected 0.014; Prior 1.4% 1000 Wholesale sales mm for Mar : Expected 0.01; Prior -0.8% 1500 Consumer credit for Mar : Expected 20.00 bln; Prior 27.58 bln Cenovus Energy Inc CVE.TO swung to a first-quarter profit from the previous three-month period, as global crude recovered on the back of easing COVID-19 restrictions and vaccine rollouts. | May 7 (Reuters) - Futures for Canada's main stock index were higher on Friday as gold prices rose, while investors awaited a reading on employment data to gauge the pace of economic recovery in the country. Cenovus Energy Inc CVE.TO swung to a first-quarter profit from the previous three-month period, as global crude recovered on the back of easing COVID-19 restrictions and vaccine rollouts. Air Canada AC.TO reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 bln) government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. |
34977.0 | 2021-05-07 00:00:00 UTC | Air Canada reports a wider loss as COVID-19 restrictions hit traffic | AC | https://www.nasdaq.com/articles/air-canada-reports-a-wider-loss-as-covid-19-restrictions-hit-traffic-2021-05-07 | nan | nan | Adds operating revenue, other details
May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 billion)government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic.
The Montreal-based airline has been focusing on cargo and domestic flights, as strict Canadian restrictions forced it to slash capacity for international travel and cut costs while a third wave of COVID-19 infections in the country ravages demand.
Canada is facing a slower recovery in air travel compared to the United States, where an accelerated COVID-19 vaccine rollout and falling numbers of cases and deaths have driven a surge in demand for summer flights.
Air Canada projects a net cash burn of between $13 million and $15 million per day in the second quarter of 2021.
Operating revenue fell to $729 million in the first quarter from $3.72 billion a year earlier.
Canada's largest carrier reported a loss of C$1.30 billion, compared with C$1.05 billion.
($1 = 1.2184 Canadian dollars)
(Reporting By Allison Lampert and Shreyasee Raj; Editing by Shinjini Ganguli)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds operating revenue, other details May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 billion)government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. The Montreal-based airline has been focusing on cargo and domestic flights, as strict Canadian restrictions forced it to slash capacity for international travel and cut costs while a third wave of COVID-19 infections in the country ravages demand. Canada is facing a slower recovery in air travel compared to the United States, where an accelerated COVID-19 vaccine rollout and falling numbers of cases and deaths have driven a surge in demand for summer flights. | Adds operating revenue, other details May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 billion)government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Canada is facing a slower recovery in air travel compared to the United States, where an accelerated COVID-19 vaccine rollout and falling numbers of cases and deaths have driven a surge in demand for summer flights. The Montreal-based airline has been focusing on cargo and domestic flights, as strict Canadian restrictions forced it to slash capacity for international travel and cut costs while a third wave of COVID-19 infections in the country ravages demand. | Adds operating revenue, other details May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 billion)government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Canada is facing a slower recovery in air travel compared to the United States, where an accelerated COVID-19 vaccine rollout and falling numbers of cases and deaths have driven a surge in demand for summer flights. The Montreal-based airline has been focusing on cargo and domestic flights, as strict Canadian restrictions forced it to slash capacity for international travel and cut costs while a third wave of COVID-19 infections in the country ravages demand. | Adds operating revenue, other details May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss despite securing a C$5.9 billion ($4.84 billion)government aid package, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. The Montreal-based airline has been focusing on cargo and domestic flights, as strict Canadian restrictions forced it to slash capacity for international travel and cut costs while a third wave of COVID-19 infections in the country ravages demand. Canada is facing a slower recovery in air travel compared to the United States, where an accelerated COVID-19 vaccine rollout and falling numbers of cases and deaths have driven a surge in demand for summer flights. |
34978.0 | 2021-05-07 00:00:00 UTC | Air Canada reports a wider loss as COVID-19 restrictions hit traffic | AC | https://www.nasdaq.com/articles/air-canada-reports-a-wider-loss-as-covid-19-restrictions-hit-traffic-2021-05-07-0 | nan | nan | Corrects to show Q1 earnings period did not include aid package
May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss, as rising coronavirus infections in parts of the world and travel restrictions limited traffic.
Canada's largest carrier reported a loss of C$1.30 billion for the first quarter, compared with C$1.05 billion a year earlier.
Air Canada secured a long-awaited C$5.9 billion ($4.79 billion) government aid package in April.
($1 = 1.2184 Canadian dollars)
(Reporting By Allison Lampert and Shreyasee Raj; Editing by Shinjini Ganguli)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Corrects to show Q1 earnings period did not include aid package May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Air Canada secured a long-awaited C$5.9 billion ($4.79 billion) government aid package in April. Canada's largest carrier reported a loss of C$1.30 billion for the first quarter, compared with C$1.05 billion a year earlier. | Corrects to show Q1 earnings period did not include aid package May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Air Canada secured a long-awaited C$5.9 billion ($4.79 billion) government aid package in April. Canada's largest carrier reported a loss of C$1.30 billion for the first quarter, compared with C$1.05 billion a year earlier. | Corrects to show Q1 earnings period did not include aid package May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Air Canada secured a long-awaited C$5.9 billion ($4.79 billion) government aid package in April. Canada's largest carrier reported a loss of C$1.30 billion for the first quarter, compared with C$1.05 billion a year earlier. | Corrects to show Q1 earnings period did not include aid package May 7 (Reuters) - Air Canada AC.TO on Friday reported its fifth straight quarterly loss, as rising coronavirus infections in parts of the world and travel restrictions limited traffic. Air Canada secured a long-awaited C$5.9 billion ($4.79 billion) government aid package in April. Canada's largest carrier reported a loss of C$1.30 billion for the first quarter, compared with C$1.05 billion a year earlier. |
34979.0 | 2021-05-04 00:00:00 UTC | Canada's Alberta province toughens COVID-19 restrictions | AC | https://www.nasdaq.com/articles/canadas-alberta-province-toughens-covid-19-restrictions-2021-05-04 | nan | nan | By Steve Scherer and Nia Williams
OTTAWA/CALGARY, Alberta, May 4 (Reuters) - The Canadian province of Alberta will increase restrictions aimed at limiting the spread of COVID-19 as a third wave of the pandemic threatens to overwhelm the hospital system within weeks, Premier Jason Kenney said on Tuesday.
Stricter measures include confining schools to online learning, ordering workplaces with COVID-19 outbreaks to close for 10 days, closing salons, allowing restaurants to offer takeout service only and reducing the number of people allowed at funerals and religious services.
Alberta, the center of Canada's energy industry, has the highest per capita rate of COVID-19 cases in the country and follows Ontario and Quebec in beefing up restrictions.
"If you can stay home, please stay home," Kenney told a news conference.
Prime Minister Justin Trudeau said on Tuesday the federal government was offering whatever help the province needed to get the situation under control and keep Albertans safe.
Alberta's tougher measures come on the same day Canada's Tourism Minister Melanie Joly said the country is working with international partners to develop a standardized vaccine certification for travel.
Canada currently has a higher infection rate than the United States as it rolls out vaccines during a third wave. The country has fully inoculated only 3% of its almost 38 million people, though more than 34% have received a first dose and millions of doses are arriving each week.
"Clearly as vaccination is being rolled out, we will position ourself as a safe destination," Joly said in a telephone interview after attending a virtual meeting with her G20 counterparts earlier in the day.
Canada's land border with the United States has been closed to non-essential travel since March 2020, and those arriving by plane must be tested and quarantine themselves.
The third wave gripping the country now has dimmed the hopes of airlines and the tourism sector for renewed travel this summer.
(Reporting by Steve Scherer; Editing by David Gregorio)
((steve.scherer@thomsonreuters.com; +1-647-480-7889;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alberta's tougher measures come on the same day Canada's Tourism Minister Melanie Joly said the country is working with international partners to develop a standardized vaccine certification for travel. "Clearly as vaccination is being rolled out, we will position ourself as a safe destination," Joly said in a telephone interview after attending a virtual meeting with her G20 counterparts earlier in the day. Stricter measures include confining schools to online learning, ordering workplaces with COVID-19 outbreaks to close for 10 days, closing salons, allowing restaurants to offer takeout service only and reducing the number of people allowed at funerals and religious services. | Stricter measures include confining schools to online learning, ordering workplaces with COVID-19 outbreaks to close for 10 days, closing salons, allowing restaurants to offer takeout service only and reducing the number of people allowed at funerals and religious services. Alberta's tougher measures come on the same day Canada's Tourism Minister Melanie Joly said the country is working with international partners to develop a standardized vaccine certification for travel. Canada currently has a higher infection rate than the United States as it rolls out vaccines during a third wave. | Stricter measures include confining schools to online learning, ordering workplaces with COVID-19 outbreaks to close for 10 days, closing salons, allowing restaurants to offer takeout service only and reducing the number of people allowed at funerals and religious services. Alberta's tougher measures come on the same day Canada's Tourism Minister Melanie Joly said the country is working with international partners to develop a standardized vaccine certification for travel. Canada currently has a higher infection rate than the United States as it rolls out vaccines during a third wave. | Alberta's tougher measures come on the same day Canada's Tourism Minister Melanie Joly said the country is working with international partners to develop a standardized vaccine certification for travel. Canada currently has a higher infection rate than the United States as it rolls out vaccines during a third wave. Stricter measures include confining schools to online learning, ordering workplaces with COVID-19 outbreaks to close for 10 days, closing salons, allowing restaurants to offer takeout service only and reducing the number of people allowed at funerals and religious services. |
34980.0 | 2021-04-28 00:00:00 UTC | Canadian tour operator Transat close to government aid deal -sources | AC | https://www.nasdaq.com/articles/canadian-tour-operator-transat-close-to-government-aid-deal-sources-2021-04-28-0 | nan | nan | Adds context, details
MONTREAL, April 28 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO is very close to reaching a financial aid deal with the federal government involving a loan, two sources familiar with the matter told Reuters on Wednesday.
The deal would involve a loan under Canada's Large Employer Emergency Financing Facility (LEEFF), the sources said on condition of anonymity because the talks are confidential.
Transat, which is scheduled to hold its annual general meeting on Thursday, declined to comment. The federal finance ministry, which is leading the talks with Transat, was not immediately available for comment.
It was not clear whether a deal would be reached by Thursday.
Air Canada AC.TOdropped its merger plans with Transat earlier this month, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat, which was already struggling due to the pandemic.
Transat has previously said it was holding discussions with the government regarding the LEEFF program and sectoral aid.
Transat, which has suspended flights until June due to pandemic restrictions that have battered travel, has said it needs at least C$500 million ($406 million) in financing this year.
It has obligations due on April 29 for a $50 million revolving facility and a C$250 million short-term loan that matures on June 30. If it does not meet the April 29 requirements, or obtain another extension, creditors could accelerate the repayment obligation.
Air Canada, itself struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal earlier this month on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds.
($1 = 1.2320 Canadian dollars)
(Reporting By Allison Lampert in Montreal; Additional reporting by Steve Scherer in Ottawa; Editing by Denny Thomas, Chris Reese and Dan Grebler)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds context, details MONTREAL, April 28 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO is very close to reaching a financial aid deal with the federal government involving a loan, two sources familiar with the matter told Reuters on Wednesday. The deal would involve a loan under Canada's Large Employer Emergency Financing Facility (LEEFF), the sources said on condition of anonymity because the talks are confidential. It was not clear whether a deal would be reached by Thursday. | Adds context, details MONTREAL, April 28 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO is very close to reaching a financial aid deal with the federal government involving a loan, two sources familiar with the matter told Reuters on Wednesday. The deal would involve a loan under Canada's Large Employer Emergency Financing Facility (LEEFF), the sources said on condition of anonymity because the talks are confidential. Air Canada, itself struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal earlier this month on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | Adds context, details MONTREAL, April 28 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO is very close to reaching a financial aid deal with the federal government involving a loan, two sources familiar with the matter told Reuters on Wednesday. Air Canada AC.TOdropped its merger plans with Transat earlier this month, creating uncertainty for the Montreal-based operator of leisure carrier Air Transat, which was already struggling due to the pandemic. Air Canada, itself struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal earlier this month on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | It has obligations due on April 29 for a $50 million revolving facility and a C$250 million short-term loan that matures on June 30. Air Canada, itself struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal earlier this month on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. Adds context, details MONTREAL, April 28 (Reuters) - Struggling Canadian tour operator Transat AT TRZ.TO is very close to reaching a financial aid deal with the federal government involving a loan, two sources familiar with the matter told Reuters on Wednesday. |
34981.0 | 2021-04-28 00:00:00 UTC | 'Bunch of garbage': Campaign to ease pilot overload from antiquated safety warnings | AC | https://www.nasdaq.com/articles/bunch-of-garbage%3A-campaign-to-ease-pilot-overload-from-antiquated-safety-warnings-2021-0 | nan | nan | By Jamie Freed
April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways.
Mistaking the runway they were cleared to land on for the one that was closed, the fatigued pilots chose the wrong reference point and lined up to land on a parallel taxiway instead. They came within seconds of colliding with four planes.
More than three years later, a global campaign has been launched to improve aviation safety by reducing the kind of information overload experienced by the pilots of Air Canada 759.
The reform of the more than century-old system of Notices to Airmen (NOTAMs) - originally modelled after Notices to Mariners - is part of a wider push to make aviation simpler, particularly in the wake of two Boeing BA.N 737 MAX crashes.
For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes.
For decades, such standardised bulletins issued by national air navigation authorities – part of a global safety regime overseen by the United Nations - have helped to keep aviation safe.
But the industry has grown so large that the noise created by redundant warnings is increasingly seen as a hazard.
Displayed in unpredictable order and written in a telegraphic code conceived decades ago, the upper-case notices are riddled with byzantine abbreviations that can pose problems even for experienced pilots when they are overworked, particularly for non-native English speakers.
A warning that a navigation aid will be unavailable at Hong Kong International Airport for less than two hours in late May, for example, appears as:
A0290/21 NOTAMN
Q) VHHK/QNMAU/IV/NBO/AE/000/999/2219N11355E005
A) VHHH
B) 2105252130 C) 2105252329
E) SIU MO TO DVOR/DME 'SMT' 114.80 MHZ/CH95X NOT AVBL DUE MAINT.
In the United States, investigators have warned for years that the torrent of data could either overwhelm pilots or just be ignored.
Many are issued to avoid legal liability rather than improve safety, say experts.
"(NOTAMs) are just a bunch of garbage that nobody pays any attention to," U.S. National Transportation Safety Board Chairman Robert Sumwalt said at a 2018 hearing on the Air Canada incident, which helped spur the global campaign for change.
BABY STEPS
Now, the U.N. International Civil Aviation Organization (ICAO) is leading efforts to overhaul the system.
Its first step is to get rid of outdated NOTAMs. Officially, the warnings are supposed to expire after 90 days. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO.
"You can imagine how incredibly frustrating it is for crews because basically what we're saying is, 'Here's 200 pages of junk. In there is one NOTAM that could potentially end your career, or place your aircraft and passengers in danger, and it's up to you to find it,'" said Mark Zee, the founder of flight operations advisory firm OPSGROUP, who has played a key role in lobbying for change.
The next step, which Zee said was slated for 2022, will prioritise the most important warnings at the top of the briefing package and allow airlines to filter out those not relevant for their crews.
A final step – long overdue, according to pilots - would be to change the format of NOTAMs to make them more reader-friendly.
Airspace NOTAMs, for example, are often given as a set of latitudes and longitudes that are meaningless unless pilots have time to chart them - and they do not, Australian Federation of Air Pilots Safety and Technical Director Stuart Beveridge said.
"So we've actually suggested they move into the 21st century and look at upper and lower case, punctuation, plain standardised language, time formats that are not just strings of numbers, and where possible, graphical information," he said.
While the campaign is promising, it demonstrates the glacial pace of change in global aviation, safety experts say, adding it could take years more before all countries put changes into effect.
In Albania, for example, there is an active NOTAM issued in 2000 that provides pilots with a telephone number to call should they have a Y2K-related communications problem.
"So I'm basically reading about Y2K thinking they can't possibly mean that thing from 20 years ago that never happened," Zee said.
"And right at the bottom there's one that says, for example, no jet fuel available for two weeks. I've missed it. Now I've flown in and I can't get fuel to get back out again."
(Reporting by Jamie Freed in Sydney; additional reporting by Allison Lampert in Montreal; Editing by Tim Hepher and Richard Pullin)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. | While the campaign is promising, it demonstrates the glacial pace of change in global aviation, safety experts say, adding it could take years more before all countries put changes into effect. By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. | By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. | But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. Now I've flown in and I can't get fuel to get back out again." By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. |
34982.0 | 2021-04-28 00:00:00 UTC | 'Bunch of garbage': Campaign to ease pilot overload from antiquated safety warnings | AC | https://www.nasdaq.com/articles/bunch-of-garbage%3A-campaign-to-ease-pilot-overload-from-antiquated-safety-warnings-2021-04 | nan | nan | By Jamie Freed
April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways.
Mistaking the runway they were cleared to land on for the one that was closed, the fatigued pilots chose the wrong reference point and lined up to land on a parallel taxiway instead. They came within seconds of colliding with four planes.
More than three years later, a global campaign has been launched to improve aviation safety by reducing the kind of information overload experienced by the pilots of Air Canada 759.
The reform of the more than century-old system of Notices to Airmen (NOTAMs) - originally modelled after Notices to Mariners - is part of a wider push to make aviation simpler, particularly in the wake of two Boeing BA.N 737 MAX crashes.
For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes.
For decades, such standardised bulletins issued by national air navigation authorities – part of a global safety regime overseen by the United Nations - have helped to keep aviation safe.
But the industry has grown so large that the noise created by redundant warnings is increasingly seen as a hazard.
Displayed in unpredictable order and written in a telegraphic code conceived decades ago, the upper-case notices are riddled with byzantine abbreviations that can pose problems even for experienced pilots when they are overworked, particularly for non-native English speakers.
A warning that a navigation aid will be unavailable at Hong Kong International Airport for less than two hours in late May, for example, appears as:
A0290/21 NOTAMN
Q) VHHK/QNMAU/IV/NBO/AE/000/999/2219N11355E005
A) VHHH
B) 2105252130 C) 2105252329
E) SIU MO TO DVOR/DME 'SMT' 114.80 MHZ/CH95X NOT AVBL DUE MAINT.
In the United States, investigators have warned for years that the torrent of data could either overwhelm pilots or just be ignored.
Many are issued to avoid legal liability rather than improve safety, say experts.
"(NOTAMs) are just a bunch of garbage that nobody pays any attention to," U.S. National Transportation Safety Board Chairman Robert Sumwalt said at a 2018 hearing on the Air Canada incident, which helped spur the global campaign for change.
BABY STEPS
Now, the U.N. International Civil Aviation Organization (ICAO) is leading efforts to overhaul the system.
Its first step is to get rid of outdated NOTAMs. Officially, the warnings are supposed to expire after 90 days. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO.
"You can imagine how incredibly frustrating it is for crews because basically what we're saying is, 'Here's 200 pages of junk. In there is one NOTAM that could potentially end your career, or place your aircraft and passengers in danger, and it's up to you to find it,'" said Mark Zee, the founder of flight operations advisory firm OPSGROUP, who has played a key role in lobbying for change.
The next step, which Zee said was slated for 2022, will prioritise the most important warnings at the top of the briefing package and allow airlines to filter out those not relevant for their crews.
A final step – long overdue, according to pilots - would be to change the format of NOTAMs to make them more reader-friendly.
Airspace NOTAMs, for example, are often given as a set of latitudes and longitudes that are meaningless unless pilots have time to chart them - and they do not, Australian Federation of Air Pilots Safety and Technical Director Stuart Beveridge said.
"So we've actually suggested they move into the 21st century and look at upper and lower case, punctuation, plain standardised language, time formats that are not just strings of numbers, and where possible, graphical information," he said.
While the campaign is promising, it demonstrates the glacial pace of change in global aviation, safety experts say, adding it could take years more before all countries put changes into effect.
In Albania, for example, there is an active NOTAM issued in 2000 that provides pilots with a telephone number to call should they have a Y2K-related communications problem.
"So I'm basically reading about Y2K thinking they can't possibly mean that thing from 20 years ago that never happened," Zee said.
"And right at the bottom there's one that says, for example, no jet fuel available for two weeks. I've missed it. Now I've flown in and I can't get fuel to get back out again."
(Reporting by Jamie Freed in Sydney; additional reporting by Allison Lampert in Montreal; Editing by Tim Hepher and Richard Pullin)
((Jamie.Freed@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. | While the campaign is promising, it demonstrates the glacial pace of change in global aviation, safety experts say, adding it could take years more before all countries put changes into effect. By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. | By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. For long-haul flights, there can be up to 200 pages of NOTAMs for pilots to review on paper or an iPad, many of them as irrelevant as general bird hazard warnings, grass-cutting at airports or low-altitude construction obstacles relevant only to helicopters and light planes. But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. | But 20% of the more than 36,000 active globally notices are older than that, according to ICAO. Now I've flown in and I can't get fuel to get back out again." By Jamie Freed April 28 (Reuters) - When it came time to land at San Francisco on July 7, 2017, the pilots of an Air Canada jet could not recall a critical piece of information buried on page eight of a 27-page briefing package: the closure of one of the airport's two runways. |
34983.0 | 2021-04-22 00:00:00 UTC | CANADA STOCKS - TSX falls 0.58% to 19,031.64 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.58-to-19031.64-2021-04-22 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.58 percent to 19,031.64
* Leading the index were Laurentian Bank of Canada , up 5.6%, goeasy Ltd GSY.TO, up 4.5%, and Air Canada AC.TO, higher by 4.4%.
* Lagging shares were Turquoise Hill Resources Ltd TRQ.TO, down 7.0%, Silvercrest Metals Inc SIL.TO, down 5.5%, and New Gold Inc NGD.TO, lower by 4.8%.
* On the TSX 73 issues rose and 154 fell as a 0.5-to-1 ratio favored decliners. There were 13 new highs and no new lows, with total volume of 171.6 million shares.
* The most heavily traded shares by volume were Enbridge Inc ENB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 1.21 points, or 1.1%, while the financials sector .SPTTFS climbed 0.02 points, or 0.0%.
* West Texas Intermediate crude futures CLc1 rose 0.51%, or $0.31, to $61.66 a barrel. Brent crude LCOc1 rose 0.43%, or $0.28, to $65.6 O/R
* The TSX is up 9.2% for the year.
This summary was machine generated April 22 at 21:03 GMT.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 0.58 percent to 19,031.64 * Leading the index were Laurentian Bank of Canada , up 5.6%, goeasy Ltd GSY.TO, up 4.5%, and Air Canada AC.TO, higher by 4.4%. This summary was machine generated April 22 at 21:03 GMT. | * The Toronto Stock Exchange's TSX falls 0.58 percent to 19,031.64 * Leading the index were Laurentian Bank of Canada , up 5.6%, goeasy Ltd GSY.TO, up 4.5%, and Air Canada AC.TO, higher by 4.4%. * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. This summary was machine generated April 22 at 21:03 GMT. | * The Toronto Stock Exchange's TSX falls 0.58 percent to 19,031.64 * Leading the index were Laurentian Bank of Canada , up 5.6%, goeasy Ltd GSY.TO, up 4.5%, and Air Canada AC.TO, higher by 4.4%. * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. This summary was machine generated April 22 at 21:03 GMT. | * The most heavily traded shares by volume were Enbridge Inc ENB.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX falls 0.58 percent to 19,031.64 * Leading the index were Laurentian Bank of Canada , up 5.6%, goeasy Ltd GSY.TO, up 4.5%, and Air Canada AC.TO, higher by 4.4%. This summary was machine generated April 22 at 21:03 GMT. |
34984.0 | 2021-04-20 00:00:00 UTC | CANADA STOCKS - TSX falls 0.85% to 19,040.78 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-falls-0.85-to-19040.78-2021-04-20 | nan | nan | * The Toronto Stock Exchange's TSX falls 0.85 percent to 19,040.78
* Leading the index were OceanaGold Corp , up 5.0%, B2Gold Corp BTO.TO, up 3.5%, and Osisko Mining Inc OSK.TO, higher by 3.4%.
* Lagging shares were OrganiGram Holdings Inc OGI.TO, down 10.1%, Aphria Inc APHA.TO, down 8.6%, and Whitecap Resources Inc WCP.TO, lower by 6.5%.
* On the TSX 114 issues rose and 111 fell as a 1-to-1 ratio favored advancers. There were 19 new highs and 1 new low, with total volume of 198.0 million shares.
* The most heavily traded shares by volume were Whitecap Resources Inc WCP.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO.
* The TSX's energy group .SPTTEN fell 4.65 points, or 4.0%, while the financials sector .SPTTFS slipped 3.49 points, or 1.0%.
* West Texas Intermediate crude futures CLc1 fell 1.21%, or $0.77, to $62.61 a barrel. Brent crude LCOc1 fell 1.16%, or $0.78, to $66.27 O/R
* The TSX is up 9.2% for the year.
This summary was machine generated April 20 at 21:03 GMT.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Whitecap Resources Inc WCP.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. This summary was machine generated April 20 at 21:03 GMT. * Lagging shares were OrganiGram Holdings Inc OGI.TO, down 10.1%, Aphria Inc APHA.TO, down 8.6%, and Whitecap Resources Inc WCP.TO, lower by 6.5%. | * The most heavily traded shares by volume were Whitecap Resources Inc WCP.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. This summary was machine generated April 20 at 21:03 GMT. * Lagging shares were OrganiGram Holdings Inc OGI.TO, down 10.1%, Aphria Inc APHA.TO, down 8.6%, and Whitecap Resources Inc WCP.TO, lower by 6.5%. | * The most heavily traded shares by volume were Whitecap Resources Inc WCP.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. This summary was machine generated April 20 at 21:03 GMT. * The Toronto Stock Exchange's TSX falls 0.85 percent to 19,040.78 * Leading the index were OceanaGold Corp , up 5.0%, B2Gold Corp BTO.TO, up 3.5%, and Osisko Mining Inc OSK.TO, higher by 3.4%. | * The most heavily traded shares by volume were Whitecap Resources Inc WCP.TO, Air Canada AC.TO and Suncor Energy Inc SU.TO. This summary was machine generated April 20 at 21:03 GMT. * The Toronto Stock Exchange's TSX falls 0.85 percent to 19,040.78 * Leading the index were OceanaGold Corp , up 5.0%, B2Gold Corp BTO.TO, up 3.5%, and Osisko Mining Inc OSK.TO, higher by 3.4%. |
34985.0 | 2021-04-20 00:00:00 UTC | Canada-U.S. land border restrictions, hotel quarantine extended | AC | https://www.nasdaq.com/articles/canada-u.s.-land-border-restrictions-hotel-quarantine-extended-2021-04-20 | nan | nan | Adds hotel quarantine extension
OTTAWA, April 20 (Reuters) - Canada and the United States on Tuesday extended a land-border closure for non-essential travelers, and air passengers arriving in Canada will continue to be tested for COVID-19 ahead of a hotel quarantine period, authorities said.
The land-border restrictions, imposed in March 2020, have been extended to May 21. Now in place for 13 months, they are being renewed month by month. Mexico said late on Monday it was maintaining some of its border restrictions, too.
"We are guided by science and public health data and engaged in discussions with Canada and Mexico about easing restrictions as health conditions improve," the U.S. Department of Homeland Security said on Twitter.
The restrictions have hit many border communities and businesses hard. Many U.S. lawmakers have urged loosening the restrictions or setting a road map to resuming normalized travel.
Canada continues to lag the United States on vaccinations, and much of the country is now fighting a virulent third wave of the disease with school and business closures.
Canada's required three-day hotel quarantine following testing at airports, which was introduced as a temporary measure to discourage spring break travel, was also extended to May 21, health authorities said.
Canada began testing international air arrivals in February, and requiring them to pay for a three-day hotel quarantine themselves, a measure criticized by airlines hit hard by the pandemic.
Air travelers are also are required to have had a test within three days of departure. If the airport text comes back negative, they can finish a 14-day quarantine at home.
However, data obtained by Reuters showed that more than 1,000 passengers, or 1.5% of those who arrived from Feb 22 to March 25, tested positive for COVID-19, casting doubt over a broad easing of restrictions before the summer travel season.
(Reporting by Steve Scherer in Ottawa and David Shepardson in Washington; Editing by Bernadette Baum)
((steve.scherer@thomsonreuters.com; +1-647-480-7889;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Now in place for 13 months, they are being renewed month by month. Canada continues to lag the United States on vaccinations, and much of the country is now fighting a virulent third wave of the disease with school and business closures. If the airport text comes back negative, they can finish a 14-day quarantine at home. | Now in place for 13 months, they are being renewed month by month. Canada continues to lag the United States on vaccinations, and much of the country is now fighting a virulent third wave of the disease with school and business closures. If the airport text comes back negative, they can finish a 14-day quarantine at home. | Now in place for 13 months, they are being renewed month by month. Canada continues to lag the United States on vaccinations, and much of the country is now fighting a virulent third wave of the disease with school and business closures. If the airport text comes back negative, they can finish a 14-day quarantine at home. | Now in place for 13 months, they are being renewed month by month. Canada continues to lag the United States on vaccinations, and much of the country is now fighting a virulent third wave of the disease with school and business closures. If the airport text comes back negative, they can finish a 14-day quarantine at home. |
34986.0 | 2021-04-20 00:00:00 UTC | CANADA STOCKS-TSX slips as Canadian National falls on bid to buy Kansas City rail | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-slips-as-canadian-national-falls-on-bid-to-buy-kansas-city-rail-2021-04 | nan | nan | Updates prices, adds sectors
April 20 (Reuters) - Canada's main stock index slipped on Tuesday, pressured by industrial shares as Canadian National tumbled after it offered to buy railroad operator Kansas City Southern for $30 billion.
* Canadian National's shares CNR.TO dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern.
* That led to the industrial sector .GSPTTIN posting a decline of 2%.
* At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 117.6 points, or 0.61%, at 19,086.82.
* The energy sector .SPTTEN dropped 2% even as U.S. crude CLc1 prices were up 0.3% a barrel and Brent crude LCOc1 added 0.5%. O/R
* The materials sector .GSPTTMT, which includes precious and base metals miners, lost 0.2% as gold futures GCc1 fell 0.1% to $1,767.9 an ounce. GOL/MET/L
* On the TSX, 76 issues were higher, while 150 issues declined for a 1.97-to-1 ratio to the downside, with 15.29 million shares traded.
* The largest percentage gainers on the TSX were Spin Master Corp TOY.TO, which jumped 2.7%, and Altus Group AIF.TO, which rose 2.1%.
* The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Bombardier BBDb.TO and Air Canada AC.TO.
* The TSX posted five new 52-week highs and one new low.
* Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel)
((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Canadian National's shares CNR.TO dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern. * The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Bombardier BBDb.TO and Air Canada AC.TO. * Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares. | * Canadian National's shares CNR.TO dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern. * The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Bombardier BBDb.TO and Air Canada AC.TO. * Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares. | * Canadian National's shares CNR.TO dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern. * The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Bombardier BBDb.TO and Air Canada AC.TO. * Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares. | * Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares. * Canadian National's shares CNR.TO dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern. * The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO, Bombardier BBDb.TO and Air Canada AC.TO. |
34987.0 | 2021-04-15 00:00:00 UTC | CANADA STOCKS - TSX rises 0.78% to 19,321.92 | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-0.78-to-19321.92-2021-04-15 | nan | nan | * The Toronto Stock Exchange's TSX rises 0.78 percent to 19,321.92
* Leading the index were Martinrea International Inc , up 7.4%, Fortuna Silver Mines Inc FVI.TO, up 7.1%, and Hudbay Minerals Inc HBM.TO, higher by 6.7%.
* Lagging shares were AcuityAds Holdings Inc AT.TO, down 6.7%, Ballard Power Systems Inc BLDP.TO, down 6.5%, and Northland Power Inc NPI.TO, lower by 6.0%.
* On the TSX 165 issues rose and 60 fell as a 2.8-to-1 ratio favored advancers. There were 18 new highs and no new lows, with total volume of 203.0 million shares.
* The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO.
* The TSX's energy group .SPTTEN fell 0.59 points, or 0.5%, while the financials sector .SPTTFS climbed 0.86 points, or 0.3%.
* West Texas Intermediate crude futures CLc1 rose 0.27%, or $0.17, to $63.32 a barrel. Brent crude LCOc1 rose 0.36%, or $0.24, to $66.82 O/R
* The TSX is up 10.8% for the year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Lagging shares were AcuityAds Holdings Inc AT.TO, down 6.7%, Ballard Power Systems Inc BLDP.TO, down 6.5%, and Northland Power Inc NPI.TO, lower by 6.0%. * The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.78 percent to 19,321.92 * Leading the index were Martinrea International Inc , up 7.4%, Fortuna Silver Mines Inc FVI.TO, up 7.1%, and Hudbay Minerals Inc HBM.TO, higher by 6.7%. | * Lagging shares were AcuityAds Holdings Inc AT.TO, down 6.7%, Ballard Power Systems Inc BLDP.TO, down 6.5%, and Northland Power Inc NPI.TO, lower by 6.0%. * The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * On the TSX 165 issues rose and 60 fell as a 2.8-to-1 ratio favored advancers. | * The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * Lagging shares were AcuityAds Holdings Inc AT.TO, down 6.7%, Ballard Power Systems Inc BLDP.TO, down 6.5%, and Northland Power Inc NPI.TO, lower by 6.0%. * The Toronto Stock Exchange's TSX rises 0.78 percent to 19,321.92 * Leading the index were Martinrea International Inc , up 7.4%, Fortuna Silver Mines Inc FVI.TO, up 7.1%, and Hudbay Minerals Inc HBM.TO, higher by 6.7%. | * Lagging shares were AcuityAds Holdings Inc AT.TO, down 6.7%, Ballard Power Systems Inc BLDP.TO, down 6.5%, and Northland Power Inc NPI.TO, lower by 6.0%. * The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Suncor Energy Inc SU.TO and Air Canada AC.TO. * The Toronto Stock Exchange's TSX rises 0.78 percent to 19,321.92 * Leading the index were Martinrea International Inc , up 7.4%, Fortuna Silver Mines Inc FVI.TO, up 7.1%, and Hudbay Minerals Inc HBM.TO, higher by 6.7%. |
34988.0 | 2021-04-15 00:00:00 UTC | After Air Canada lifeline, small carriers seek aid as virus looms ahead of summer travel | AC | https://www.nasdaq.com/articles/after-air-canada-lifeline-small-carriers-seek-aid-as-virus-looms-ahead-of-summer-travel | nan | nan | By Allison Lampert and Steve Scherer
MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants loom ahead of the vital summer travel season.
The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said.
But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading.
Fears of a delayed recovery, along with the Air Canada deal, has upset the "level playing field" for air service, with smaller carriersasking for financial support.
"We want everyone to have access to the same programs," said John McKenna, chief executive of the Air Transport Association of Canada (ATAC), which represents smaller carriers.
On Wednesday, Air Canada joined rival WestJet Airlines in extending a three-month suspension of sun-destination flights to the Caribbean and Mexico originally slated to end on April 30, reflecting the government's current warnings against international travel. L1N2M71SG
The planned April reopening of a bubble in Atlantic Canada, which would allow travel among the region's four provinces without the need to self-isolate, was postponed this week until at least May 3 over COVID-19 concerns.
WestJet said its previously-planned schedule for Atlantic Canada remains unchanged.
Canada's vaccine roll out has been slow, but it is ramping up now. By the end of June, some 44 million doses are expected, and everyone who wants to be fully inoculated will be by the end of September, Prime Minister Justin Trudeau has promised.
Trudeau said in a radio interview this week that he supports Canadian provinces which choose to close their borders to help curb the spread of COVID-19.
Canada's Liberal government, which will deliver its first budget in two years next week, has said talks with carriers like Onex Corp-owned ONEX.TO WestJet are ongoing.
"We hope that the other agreements come as soon as possible," the source familiar with the talks said, adding that "different airlines have different needs".
WestJet spokeswoman Morgan Bell said the airline is optimistic that a successful vaccine roll-out will support summer travel and expects "government policy will transition" with mounting jabs.
Canada, with some of the world's toughest travel rules, has a mandate that its citizens and residents arriving from abroad self-isolate for 14 days.
Health Canada advised Canadians in a statement to avoid traveling outside the country "for the foreseeable future."
Calgary-based WestJet has asked the government to end an order requiring international arrivals to quarantine for up to three days in a hotel in favor of COVID-19 testing.
The government must decide whether to renew the controversial hotel order, which expires on April 21.
McKenna also urged the government to relax restrictions on travel with neighboring United States.
"The government can come up with all the financial help they want," ATAC's McKenna said. "But until those things are relaxed we can't do anything."
($1 = 1.2515 Canadian dollars)
(Reporting By Allison Lampert in Montreal and Steve Scherer in Ottawa. Additional reporting by David Ljunggren in Ottawa; editing by Diane Craft)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. WestJet spokeswoman Morgan Bell said the airline is optimistic that a successful vaccine roll-out will support summer travel and expects "government policy will transition" with mounting jabs. By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants loom ahead of the vital summer travel season. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants loom ahead of the vital summer travel season. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants loom ahead of the vital summer travel season. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants loom ahead of the vital summer travel season. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. |
34989.0 | 2021-04-15 00:00:00 UTC | CANADA STOCKS-TSX rises as higher gold prices lift miners | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-rises-as-higher-gold-prices-lift-miners-2021-04-15 | nan | nan | Updates prices, sectors
April 15 (Reuters) - Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast.
Canadian miner Barrick Gold Corp ABX.TO rose 1.6% after it maintained its full-year outlook even as gold production slipped nearly 9% in the first quarter, and also forecast higher output in the second half of the year as it ramps up some operations.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.8% as gold futures GCc1 rose 0.9% to $1,750.1 an ounce. GOL/MET/L
* At 8:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 113.82 points, or 0.59%, at 19,285.48.
* Producer prices in Canada most likely rose by 1.6% in March from February, Statistics Canada said in a preliminary flash estimate. Excluding energy and petroleum products, the producer prices likely rose 1.3%.
* The energy sector .SPTTEN was unchanged as U.S. crude CLc1 prices were down 0.4% a barrel, while Brent crude LCOc1 lost 0.2%. O/R
* The financials sector .SPTTFS gained 0.2%. The industrials sector .GSPTTIN rose 0.6%.
* On the TSX, 167 issues were higher, while 54 issues declined for a 3.09-to-1 ratio favouring gainers, with 13.46 million shares traded.
* The largest percentage gainers on the TSX were Martinrea International MRE.TO, which jumped 4.0%, and B2Gold Corp BTO.TO, which rose 3.6%.
* Northland Power NPI.TO fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada AC.TO, down 1.8%.
* The most heavily traded shares by volume were Royal Bank of Canada RY.TO, St Augustin Gold & Copper SAU.TO and Nevada Copper NCU.TO, which was flat.
* The TSX posted five new 52-week highs and no new lows.
* Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Vinay Dwivedi and Aditya Soni)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates prices, sectors April 15 (Reuters) - Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast. * Northland Power NPI.TO fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada AC.TO, down 1.8%. * Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares. | Updates prices, sectors April 15 (Reuters) - Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast. * Northland Power NPI.TO fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada AC.TO, down 1.8%. * Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares. | Updates prices, sectors April 15 (Reuters) - Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast. * Northland Power NPI.TO fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada AC.TO, down 1.8%. * Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares. | Updates prices, sectors April 15 (Reuters) - Canada's main stock index rose on Thursday as gold prices jumped on the back of lower Treasury yields and a weaker dollar, while Barrick Gold Corp gained on a positive earnings forecast. * Across all Canadian issues there were 73 new 52-week highs and four new lows, with total volume of 27.21 million shares. * Northland Power NPI.TO fell 6.3%, the most on the TSX, while the second-biggest decliner was Air Canada AC.TO, down 1.8%. |
34990.0 | 2021-04-15 00:00:00 UTC | Canada faces calls for level playing field on airline aid as virus clouds summer travel | AC | https://www.nasdaq.com/articles/canada-faces-calls-for-level-playing-field-on-airline-aid-as-virus-clouds-summer-travel | nan | nan | By Allison Lampert and Steve Scherer
MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants cast early clouds ahead of the vital summer travel season.
The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said.
But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading.
Fears of a delayed recovery, along with the government deal with Air Canada, has upset the "level playing field" for air service with the airline's smaller rivals calling on the government for financial support.
"We want everyone to have access to the same programs," said John McKenna, chief executive of the Air Transport Association of Canada (ATAC), which represents smaller carriers.
On Wednesday, Air Canada joined rival WestJet Airlines in extending a three-month suspension of sun-destination flights to the Caribbean and Mexico originally slated to end on April 30, reflecting the government's current warnings against international travel. L1N2M71SG
The planned April reopening of a bubble in Atlantic Canada, which would allow travel among the region's four provinces without the need to self-isolate, was postponed this week until at least May 3 over COVID-19 concerns.
WestJet said its previously-planned schedule for Atlantic Canada remains unchanged.
Canada's vaccine roll out has been slow, but it is ramping up now. By the end of June, some 44 million doses are expected, and everyone who wants to be fully inoculated will be by the end of September, Prime Minister Justin Trudeau has promised.
Canada's Liberal government, which will deliver its first budget in two years next week, has said talks with carriers like Onex Corp ONEX.TO-owned WestJet are ongoing.
"We hope that the other agreements come as soon as possible," the source familiar with the talks said, adding that "different airlines have different needs".
WestJet spokeswoman Morgan Bell said the airline is optimistic that a successful vaccine roll-out will support summer travel and expects "government policy will transition" with mounting jabs.
Canada, with some of the world's toughest travel rules, has a mandate that its citizens and residents arriving from abroad self-isolate for 14 days.
Health Canada advised Canadians in a statement to avoid traveling outside the country "for the foreseeable future."
Calgary-based WestJet has asked the government to end an order requiring international arrivals to quarantine for up to three days in a hotel in favor of COVID-19 testing.
The government must decide whether to renew the controversial hotel order, which expires on April 21.
McKenna also urged the government to relax restrictions on travel with neighboring United States.
"The government can come up with all the financial help they want," ATAC's McKenna said. "But until those things are relaxed we can't do anything."
($1 = 1.2515 Canadian dollars)
($1 = 1.2519 Canadian dollars)
(Reporting By Allison Lampert in Montreal and Steve Scherer in Ottawa. Additional reporting by David Ljunggren in Ottawa; editing by Diane Craft)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. WestJet spokeswoman Morgan Bell said the airline is optimistic that a successful vaccine roll-out will support summer travel and expects "government policy will transition" with mounting jabs. By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants cast early clouds ahead of the vital summer travel season. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants cast early clouds ahead of the vital summer travel season. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants cast early clouds ahead of the vital summer travel season. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. | By Allison Lampert and Steve Scherer MONTREAL, April 15 (Reuters) - Canada is facing industry calls to extend financial aid to smaller airlines, after offering a C$5.9 billion ($4.71 billion)life-line to Air Canada AC.TO, as new COVID-19 variants cast early clouds ahead of the vital summer travel season. The timing of Monday's deal, which saw the Canadian government take a 6% equity stake in Air Canada, was partly designed to secure "access to air travel when it returns," as the country's vaccine rollout ramps up this summer, a source familiar with the discussions said. But with the spread of new variants threatening to overtake the pace of vaccination, early hopes for a relaxation of Canada's strict travel requirements ahead of summer are fading. |
34991.0 | 2021-04-14 00:00:00 UTC | Air Canada to extend sun-destination flight suspensions through May | AC | https://www.nasdaq.com/articles/air-canada-to-extend-sun-destination-flight-suspensions-through-may-2021-04-14 | nan | nan | Adds comment from WestJet, context
MONTREAL, April 14 (Reuters) - Air Canada on Wednesday joined rival WestJet Airlines in extending a three month suspension of sun-destination flights to the Caribbean and Mexico, as the country wrestles with a surge in dangerous virus variants.
Canadian carriers agreed in January to suspend operations to sun destinations until April 30 due to concerns over the virus spreading during spring break trips.
The country's largest carrier said it will extend the suspensions through the end of May, an Air Canada spokeswoman said by email. The airline would continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, while coming back with temporary foreign workers and Canadians abroad on return trips.
Onex Corp ONEX.TO-owned WestJet said on Tuesday it would extend its sun-flight suspensions until June 4.
Canada is due to import enough vaccine doses to ensure every person can receive a shot by the end of June, but the spread of new virus variants risks overtaking the pace of vaccination.
Air Canada, struggling with a collapse in traffic due to the pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.71 billion)in funds.
($1 = 1.2515 Canadian dollars)
(Reporting By Allison Lampert Editing by Chris Reese)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The airline would continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, while coming back with temporary foreign workers and Canadians abroad on return trips. Canada is due to import enough vaccine doses to ensure every person can receive a shot by the end of June, but the spread of new virus variants risks overtaking the pace of vaccination. Air Canada, struggling with a collapse in traffic due to the pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.71 billion)in funds. | Canada is due to import enough vaccine doses to ensure every person can receive a shot by the end of June, but the spread of new virus variants risks overtaking the pace of vaccination. The airline would continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, while coming back with temporary foreign workers and Canadians abroad on return trips. Air Canada, struggling with a collapse in traffic due to the pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.71 billion)in funds. | Canada is due to import enough vaccine doses to ensure every person can receive a shot by the end of June, but the spread of new virus variants risks overtaking the pace of vaccination. The airline would continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, while coming back with temporary foreign workers and Canadians abroad on return trips. Air Canada, struggling with a collapse in traffic due to the pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.71 billion)in funds. | The airline would continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, while coming back with temporary foreign workers and Canadians abroad on return trips. Canada is due to import enough vaccine doses to ensure every person can receive a shot by the end of June, but the spread of new virus variants risks overtaking the pace of vaccination. Air Canada, struggling with a collapse in traffic due to the pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.71 billion)in funds. |
34992.0 | 2021-04-14 00:00:00 UTC | Air Canada to extend COVID-19 suspension of sun flights through the end of May | AC | https://www.nasdaq.com/articles/air-canada-to-extend-covid-19-suspension-of-sun-flights-through-the-end-of-may-2021-04-14 | nan | nan | MONTREAL, April 14 (Reuters) - Air Canada will extend its suspension of sun flights to the Caribbean and Mexico due to COVID-19 through the end of May, a spokeswoman for the carrier told Reuters on Wednesday.
Canada's largest carrier, however, will continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, along with temporary foreign workers and Canadians abroad on return trips.
Air Canada and rival WestJet previously agreed to suspend operations to 15 sun destinations until April 30 due to concerns over the virus. Onex Corp ONEX.TO-owned WestJet said on Tuesday it would extend its sun-flight suspensions until June 4.
(Reporting By Allison Lampert)
((Allison.Lampert@thomsonreuters.com; 514-796-4212; Reuters Messaging: allison.lampert.reuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Canada's largest carrier, however, will continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, along with temporary foreign workers and Canadians abroad on return trips. Air Canada and rival WestJet previously agreed to suspend operations to 15 sun destinations until April 30 due to concerns over the virus. Onex Corp ONEX.TO-owned WestJet said on Tuesday it would extend its sun-flight suspensions until June 4. | MONTREAL, April 14 (Reuters) - Air Canada will extend its suspension of sun flights to the Caribbean and Mexico due to COVID-19 through the end of May, a spokeswoman for the carrier told Reuters on Wednesday. Canada's largest carrier, however, will continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, along with temporary foreign workers and Canadians abroad on return trips. Air Canada and rival WestJet previously agreed to suspend operations to 15 sun destinations until April 30 due to concerns over the virus. | MONTREAL, April 14 (Reuters) - Air Canada will extend its suspension of sun flights to the Caribbean and Mexico due to COVID-19 through the end of May, a spokeswoman for the carrier told Reuters on Wednesday. Canada's largest carrier, however, will continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, along with temporary foreign workers and Canadians abroad on return trips. Air Canada and rival WestJet previously agreed to suspend operations to 15 sun destinations until April 30 due to concerns over the virus. | MONTREAL, April 14 (Reuters) - Air Canada will extend its suspension of sun flights to the Caribbean and Mexico due to COVID-19 through the end of May, a spokeswoman for the carrier told Reuters on Wednesday. Canada's largest carrier, however, will continue operating some essential flights carrying cargo to Mexico City, Barbados and Kingston, along with temporary foreign workers and Canadians abroad on return trips. Air Canada and rival WestJet previously agreed to suspend operations to 15 sun destinations until April 30 due to concerns over the virus. |
34993.0 | 2021-04-14 00:00:00 UTC | Canada to go big on budget spending as pandemic lingers, election looms | AC | https://www.nasdaq.com/articles/canada-to-go-big-on-budget-spending-as-pandemic-lingers-election-looms-2021-04-14 | nan | nan | By Julie Gordon
OTTAWA, April 14 (Reuters) - Canada's Liberal government will deliver on its promise to spend big when it presents its first budget in two years next week amid a fast-rising third wave of COVID-19 infections and ahead of an election expected in coming months.
Finance Minister Chrystia Freeland has pledged to do "whatever it takes" to support Canadians, and in November promised up to C$100 billion ($79.8 billion) in stimulus over three years to "jump-start" an economic recovery in what is likely to be a crucial year for her party.
Prime Minister Justin Trudeau's Liberals depend on the support of at least one opposition group to pass laws, and senior party members have said an election is likely within months as it seeks a clear majority and a free hand to legislate.
Furthermore, by September, all Canadians who want to be vaccinated will be, Trudeau has said.
Freeland has said the pandemic created a "window" of opportunity for a national childcare plan, and that will be reflected in next Monday's budget along with spending to accelerate Canada's shift toward a more sustainable economy.
"It will be a green and innovative recovery plan aimed at creating jobs," said a government source who declined to comment on specific measures. The budget will aim to help those "who have suffered most" the effects of the pandemic, the source said.
Critics say the government would be better to hold off on blockbuster spending because the economy has shown it is poised to bounce back, and to prevent the country from racking up too much debt.
"Clearly a garden-variety stimulus package is the last thing we need. This is pile-on debt," said Don Drummond, an economist at Ontario's Queen's University.
"The risk is that at some point interest rates are going to go up and we're going to be in trouble," he said, pointing to the mid-1990s when Canada's debt-to-GDP ratio skyrocketed, leading to rating agency downgrades and years of austerity.
The Bank of Canada cut its benchmark interest rate to 0.25% to counter the economic fallout of the COVID-19 crisis and has said rates will not rise until labor market slack is absorbed, currently forecast for into 2023. That may change when it releases new projections on April 21.
EXPANDING ECONOMY
More than 3 million Canadians lost their jobs to the pandemic. As of March, before a third wave forced new lockdowns, only 296,000 remained unemployed because of COVID.
Despite still-high unemployment levels in hard-hit service sectors, the economy has expanded for nine straight months even as provinces have adjusted health restrictions to counter waves of infections.
"Once we see sustained reopening, we do think that the recovery will have quite a bit of momentum on its own," said Josh Nye, a senior economist at RBC Economics.
"We think Canada's economy will be operating pretty close to full capacity by this time next year," he said.
Economists surveyed by Reuters expect Freeland to project a deficit in the range of C$133 billion to C$175 billion for fiscal 2021/22, up from the C$121.2 billion ($96.7 billion)
deficit forecast in November. https://tmsnrt.rs/3wSJPcm
The deficit for fiscal 2020/21 ended in March is forecast by the government to top a historic C$381.6 billion ($304.5 billion).
Canada announced on Monday a C$5.9 billion ($4.7 billion) aid package for the country's largest airline carrier, Air Canada AC.TO, and said talks were ongoing with No. 2 carrier WestJet Airlines Ltd and others.
Canada federal deficit projectionshttps://tmsnrt.rs/3wSJPcm
Canada federal deficit projectionshttps://graphics.reuters.com/CANADA-BUDGET/DEFICIT/xklvyyzrqvg/chart.png
(Reporting by Julie Gordon in Ottawa; Additional reporting by Fergal Smith in Toronto; Editing by Steve Scherer and Peter Cooney)
((julie.gordon@thomsonreuters.com; 343-961-4020;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Furthermore, by September, all Canadians who want to be vaccinated will be, Trudeau has said. Freeland has said the pandemic created a "window" of opportunity for a national childcare plan, and that will be reflected in next Monday's budget along with spending to accelerate Canada's shift toward a more sustainable economy. Critics say the government would be better to hold off on blockbuster spending because the economy has shown it is poised to bounce back, and to prevent the country from racking up too much debt. | Furthermore, by September, all Canadians who want to be vaccinated will be, Trudeau has said. Freeland has said the pandemic created a "window" of opportunity for a national childcare plan, and that will be reflected in next Monday's budget along with spending to accelerate Canada's shift toward a more sustainable economy. Critics say the government would be better to hold off on blockbuster spending because the economy has shown it is poised to bounce back, and to prevent the country from racking up too much debt. | Canada announced on Monday a C$5.9 billion ($4.7 billion) aid package for the country's largest airline carrier, Air Canada AC.TO, and said talks were ongoing with No. Furthermore, by September, all Canadians who want to be vaccinated will be, Trudeau has said. Freeland has said the pandemic created a "window" of opportunity for a national childcare plan, and that will be reflected in next Monday's budget along with spending to accelerate Canada's shift toward a more sustainable economy. | Canada announced on Monday a C$5.9 billion ($4.7 billion) aid package for the country's largest airline carrier, Air Canada AC.TO, and said talks were ongoing with No. Furthermore, by September, all Canadians who want to be vaccinated will be, Trudeau has said. Freeland has said the pandemic created a "window" of opportunity for a national childcare plan, and that will be reflected in next Monday's budget along with spending to accelerate Canada's shift toward a more sustainable economy. |
34994.0 | 2021-04-13 00:00:00 UTC | Air Canada shares sink after government aid takes discounted equity stake | AC | https://www.nasdaq.com/articles/air-canada-shares-sink-after-government-aid-takes-discounted-equity-stake-2021-04-13 | nan | nan | By Allison Lampert and Ankit Ajmera
April 13 (Reuters) - Air Canada AC.TO shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline.
Several analysts cut their price targets for Air Canada after the deal that was revealed on Monday, which gives the Canadian government a roughly 6% stake in the carrier at a discount of 14%.
"We believe that Air Canada's access to this capital will prove to be insurance as opposed to necessary liquidity required to finance operations or capital expenditures in 2021 and beyond," TD Securities analyst Tim James wrote in a note.
James cut the target price on Air Canada to C$29 from C$31, while reaffirming a "hold" rating.
The deal provides access to up to C$5.9 billion ($4.7 billion) in a loan program that should help the airline ride out the financial impact of the COVID-19 pandemic.
Shares in Air Canada, the country's largest carrier, were down 4% at C$25.93, after rising more than 4% at the open.
As part of the deal, the carrier also agreed to refund customers who purchased a non-refundable ticket for travel on or after Feb. 1, 2020 but did not fly.
"Our target price declines due to the negative impact of greater short-term cash-burn and the impact of the dilution from the share and warrant issue on the price to equity component of our target," James added.
The Canadian government on Monday agreed to buy C$500 million worth of shares in the airline at C$23.1793 each.
The agreement - the largest individual coronavirus-related loan that Ottawa has arranged with a company - was announced after the airline industry criticized Prime Minister Justin Trudeau's Liberal government for dawdling.
Another analyst at Scotiabank also lowered the price target on Air Canada to C$29 from C$31, citing equity dilution.
"We believe some investors could be negatively surprised by equity dilution and a repayable loan for refunds," Scotiabank Konark Gupta wrote in a note, while reiterating a "sector perform" rating on the stock.
($1 = 1.2589 Canadian dollars)
(Reporting by Ankit Ajmera in Bengaluru, Editing by Sherry Jacob-Phillips and Bernadette Baum)
((Ankit.Ajmera@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Allison Lampert and Ankit Ajmera April 13 (Reuters) - Air Canada AC.TO shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline. "We believe that Air Canada's access to this capital will prove to be insurance as opposed to necessary liquidity required to finance operations or capital expenditures in 2021 and beyond," TD Securities analyst Tim James wrote in a note. The deal provides access to up to C$5.9 billion ($4.7 billion) in a loan program that should help the airline ride out the financial impact of the COVID-19 pandemic. | By Allison Lampert and Ankit Ajmera April 13 (Reuters) - Air Canada AC.TO shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline. "We believe that Air Canada's access to this capital will prove to be insurance as opposed to necessary liquidity required to finance operations or capital expenditures in 2021 and beyond," TD Securities analyst Tim James wrote in a note. The deal provides access to up to C$5.9 billion ($4.7 billion) in a loan program that should help the airline ride out the financial impact of the COVID-19 pandemic. | By Allison Lampert and Ankit Ajmera April 13 (Reuters) - Air Canada AC.TO shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline. "Our target price declines due to the negative impact of greater short-term cash-burn and the impact of the dilution from the share and warrant issue on the price to equity component of our target," James added. "We believe that Air Canada's access to this capital will prove to be insurance as opposed to necessary liquidity required to finance operations or capital expenditures in 2021 and beyond," TD Securities analyst Tim James wrote in a note. | "We believe that Air Canada's access to this capital will prove to be insurance as opposed to necessary liquidity required to finance operations or capital expenditures in 2021 and beyond," TD Securities analyst Tim James wrote in a note. By Allison Lampert and Ankit Ajmera April 13 (Reuters) - Air Canada AC.TO shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline. The deal provides access to up to C$5.9 billion ($4.7 billion) in a loan program that should help the airline ride out the financial impact of the COVID-19 pandemic. |
34995.0 | 2021-04-13 00:00:00 UTC | CANADA STOCKS-TSX gains as oil prices rise after strong China imports data | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-as-oil-prices-rise-after-strong-china-imports-data-2021-04-13 | nan | nan | Updates prices, sectors
April 13 (Reuters) - Canada's main stock index opened higher on Tuesday as oil prices rose following strong China imports data, while consumer prices in the United States spiked, signaling a faster economic growth.
U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus.
* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 26.83 points, or 0.14%, at 19,228.11.
* Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds.
* The energy sector .SPTTEN was up 0.5% as of 9:45 a.m. ET, as both U.S. crude CLc1 and Brent crude LCOc1 prices rose 1% a barrel. O/R
* The financials sector .SPTTFS slipped 0.4%. The industrials sector .GSPTTIN fell 0.5%.
* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.4% as gold futures GCc1 rose 0.6% to $1,741.7 an ounce. GOL/MET/L
* On the TSX, 104 issues advanced, while 121 issues declined in a 1.16-to-1 ratio favoring decliners, with 14.91 million shares traded.
* The largest percentage gainers on the TSX were Endeavour Silver Corp EDR.TO, which jumped 5.4% and Sunopta Inc SOY.TO, which rose 4.4%.
* OrganiGram Holdings OGI.TO fell 6.6%, the most on the TSX, while the second biggest decliner was GFL Environmental GFL.TO, down 5.1%.
* The most heavily traded shares by volume were Toronto Dominion Bank TD.TO, Sabina Gold & Silver Corp SBB.TO and Air Canada AC.TO.
* The TSX posted eight new 52-week highs and no new low.
* Across Canadian issues, there were 69 new 52-week highs and five new lows, with total volume of 26.82 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Vinay Dwivedi)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * The most heavily traded shares by volume were Toronto Dominion Bank TD.TO, Sabina Gold & Silver Corp SBB.TO and Air Canada AC.TO. U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus. * Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | * The most heavily traded shares by volume were Toronto Dominion Bank TD.TO, Sabina Gold & Silver Corp SBB.TO and Air Canada AC.TO. U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus. * Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | * The most heavily traded shares by volume were Toronto Dominion Bank TD.TO, Sabina Gold & Silver Corp SBB.TO and Air Canada AC.TO. U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus. * Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. | * Across Canadian issues, there were 69 new 52-week highs and five new lows, with total volume of 26.82 million shares. U.S. consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus. * Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds. |
34996.0 | 2021-04-13 00:00:00 UTC | Canada PM says airline sector crucial part of economy, gov't talking to carriers about aid package | AC | https://www.nasdaq.com/articles/canada-pm-says-airline-sector-crucial-part-of-economy-govt-talking-to-carriers-about-aid | nan | nan | OTTAWA, April 13 (Reuters) - Canada's airline sector is crucial and the government is looking at helping other carriers, Prime Minister Justin Trudeau said on Tuesday, a day after Ottawa unveiled a C$5.9 billion ($4.70 billion) aid package for Air Canada.
Trudeau told a briefing that the Air Canada deal would protect jobs, keep communities connected and ensure passengers received refunds for trips they had not been able to take because of the COVID-19 pandemic.
($1=1.2543 Canadian dollars)
(Reporting by Steve Scherer and David Ljunggren)
((david.ljunggren@tr.com; +1 647 480 7891;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, April 13 (Reuters) - Canada's airline sector is crucial and the government is looking at helping other carriers, Prime Minister Justin Trudeau said on Tuesday, a day after Ottawa unveiled a C$5.9 billion ($4.70 billion) aid package for Air Canada. Trudeau told a briefing that the Air Canada deal would protect jobs, keep communities connected and ensure passengers received refunds for trips they had not been able to take because of the COVID-19 pandemic. ($1=1.2543 Canadian dollars) (Reporting by Steve Scherer and David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, April 13 (Reuters) - Canada's airline sector is crucial and the government is looking at helping other carriers, Prime Minister Justin Trudeau said on Tuesday, a day after Ottawa unveiled a C$5.9 billion ($4.70 billion) aid package for Air Canada. Trudeau told a briefing that the Air Canada deal would protect jobs, keep communities connected and ensure passengers received refunds for trips they had not been able to take because of the COVID-19 pandemic. ($1=1.2543 Canadian dollars) (Reporting by Steve Scherer and David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, April 13 (Reuters) - Canada's airline sector is crucial and the government is looking at helping other carriers, Prime Minister Justin Trudeau said on Tuesday, a day after Ottawa unveiled a C$5.9 billion ($4.70 billion) aid package for Air Canada. Trudeau told a briefing that the Air Canada deal would protect jobs, keep communities connected and ensure passengers received refunds for trips they had not been able to take because of the COVID-19 pandemic. ($1=1.2543 Canadian dollars) (Reporting by Steve Scherer and David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | OTTAWA, April 13 (Reuters) - Canada's airline sector is crucial and the government is looking at helping other carriers, Prime Minister Justin Trudeau said on Tuesday, a day after Ottawa unveiled a C$5.9 billion ($4.70 billion) aid package for Air Canada. Trudeau told a briefing that the Air Canada deal would protect jobs, keep communities connected and ensure passengers received refunds for trips they had not been able to take because of the COVID-19 pandemic. ($1=1.2543 Canadian dollars) (Reporting by Steve Scherer and David Ljunggren) ((david.ljunggren@tr.com; +1 647 480 7891;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
34997.0 | 2021-04-12 00:00:00 UTC | Canada to announce multibillion-dollar relief package for Air Canada - Globe and Mail | AC | https://www.nasdaq.com/articles/canada-to-announce-multibillion-dollar-relief-package-for-air-canada-globe-and-mail-2021-0 | nan | nan | Adds company and government responses, background
April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday.
The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added.
Air Canada and Canada's finance department did not immediately respond to requests for comment.
Canada's largest carrier, which last year cut over half its workforce, or 20,000 jobs, and other regional airlines have been negotiating with the Liberal government for many months on a coronavirus aid package.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Ramakrishnan M.)
((munsif.vengattil@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds company and government responses, background April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. Canada's largest carrier, which last year cut over half its workforce, or 20,000 jobs, and other regional airlines have been negotiating with the Liberal government for many months on a coronavirus aid package. | Adds company and government responses, background April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. Canada's largest carrier, which last year cut over half its workforce, or 20,000 jobs, and other regional airlines have been negotiating with the Liberal government for many months on a coronavirus aid package. | Adds company and government responses, background April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. Canada's largest carrier, which last year cut over half its workforce, or 20,000 jobs, and other regional airlines have been negotiating with the Liberal government for many months on a coronavirus aid package. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. | Adds company and government responses, background April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. Canada's largest carrier, which last year cut over half its workforce, or 20,000 jobs, and other regional airlines have been negotiating with the Liberal government for many months on a coronavirus aid package. |
34998.0 | 2021-04-12 00:00:00 UTC | Canada to announce multibillion-dollar relief package for Air Canada - Globe and Mail | AC | https://www.nasdaq.com/articles/canada-to-announce-multibillion-dollar-relief-package-for-air-canada-globe-and-mail-2021 | nan | nan | April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday.
The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. | April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. | April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. | April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. | April 12 (Reuters) - Canada's government is set to announce a multibillion-dollar relief package for Air Canada and parts of the airlines industry on Monday evening, The Globe and Mail reported on Monday. The rescue package is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation, the report added. |
34999.0 | 2021-04-08 00:00:00 UTC | CANADA STOCKS-TSX gains as higher commodity prices boost miners | AC | https://www.nasdaq.com/articles/canada-stocks-tsx-gains-as-higher-commodity-prices-boost-miners-2021-04-08 | nan | nan | Updates prices, adds sector details
April 8 (Reuters) - Canada's main stock index opened higher on Thursday as investors bet on a faster global economic rebound, while a jump in gold and copper prices helped mining stocks.
The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.3% as gold futures GCc1 rose 0.5% to $1,748.7 an ounce to hit a three-week peak. GOL/METL/
* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 8.37 points, or 0.04%, at 19,137.44.
* Canada's Canopy Growth Corp WEED.TO said on Thursday it will buy rival Supreme Cannabis Co FIRE.TO Inc for C$323.3 million ($256.85 million), as the world's biggest cannabis producer bolsters its portfolio to tap surging demand.
* The energy sector .SPTTEN dropped 1.1% as U.S. crude CLc1 prices were down 0.9% a barrel, while Brent crude LCOc1 lost 0.6%. O/R
* The financials sector .SPTTFS slipped 0.7%. The industrials sector .GSPTTIN fell 0.2%.
* On the TSX, 119 issues were higher, while 99 issues declined for a 1.20-to-1 ratio favouring gainers, with 12.09 million shares traded.
* The largest percentage gainers on the TSX were Osisko Mining Inc OSK.TO, which jumped 4.8% and Endeavour Silver EDR.TO, which rose 4.5%.
* Air Canada AC.TO fell 2.3%, the most on the TSX, while the second-biggest decliner was Vermilion Energy VET.TO, down 2.3%.
* The most heavily traded shares by volume were Supreme Cannabis Co FIRE.TO, up 52.8%, Bombardier BBDb.TO, down 2%, and Suncor Energy SU.TO, down 1.3%.
* The TSX posted nine new 52-week highs and no new lows.
* Across all Canadian issues, there were 84 new 52-week highs and five new lows, with total volume of 48.34 million shares.
(Reporting by Shashank Nayar in Bengaluru; Editing by Maju Samuel and Devika Syamnath)
((Shashank.Nayar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2256;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | * Air Canada AC.TO fell 2.3%, the most on the TSX, while the second-biggest decliner was Vermilion Energy VET.TO, down 2.3%. * Across all Canadian issues, there were 84 new 52-week highs and five new lows, with total volume of 48.34 million shares. Updates prices, adds sector details April 8 (Reuters) - Canada's main stock index opened higher on Thursday as investors bet on a faster global economic rebound, while a jump in gold and copper prices helped mining stocks. | * Air Canada AC.TO fell 2.3%, the most on the TSX, while the second-biggest decliner was Vermilion Energy VET.TO, down 2.3%. * Across all Canadian issues, there were 84 new 52-week highs and five new lows, with total volume of 48.34 million shares. Updates prices, adds sector details April 8 (Reuters) - Canada's main stock index opened higher on Thursday as investors bet on a faster global economic rebound, while a jump in gold and copper prices helped mining stocks. | * Air Canada AC.TO fell 2.3%, the most on the TSX, while the second-biggest decliner was Vermilion Energy VET.TO, down 2.3%. * Across all Canadian issues, there were 84 new 52-week highs and five new lows, with total volume of 48.34 million shares. Updates prices, adds sector details April 8 (Reuters) - Canada's main stock index opened higher on Thursday as investors bet on a faster global economic rebound, while a jump in gold and copper prices helped mining stocks. | * Across all Canadian issues, there were 84 new 52-week highs and five new lows, with total volume of 48.34 million shares. * Air Canada AC.TO fell 2.3%, the most on the TSX, while the second-biggest decliner was Vermilion Energy VET.TO, down 2.3%. * On the TSX, 119 issues were higher, while 99 issues declined for a 1.20-to-1 ratio favouring gainers, with 12.09 million shares traded. |
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