Suncor Energy net loss hits $280 million in quarter

Total oil sands production hit a new quarterly record of 740,800 barrels per day

Suncor Energy net loss hits $280 million in quarterCalgary-based Suncor Energy reported a net loss of $280 million in its fourth quarter of 2018 compared with net earnings of $1.382 billion for the same quarter in 2017. In a news release, the energy giant said the decrease “was primarily a result of unfavourable western Canadian crude oil differentials, including a substantial widening of…

WestJet’s 2018 net earnings nosedive by more than 67 per cent

Calgary company’s total revenue in 2018 rose by 5% to $4.7 billion

WestJet’s 2018 net earnings nosedive by more than 67 per centCalgary-based WestJet saw its net earnings plunge by 67.2 per cent year over year in 2018. In reporting its fourth quarter and year-end results on Tuesday, the airline said full-year net earnings of $91.5 million were down from $279.1 million in 2017. Diluted earnings per share also fell by 66.4 per cent to 80 cents…

Imperial Oil net income surpasses $2.1 billion in 2018

Company returned more than $2.5 billion to shareholders through an increased share purchase program

Imperial Oil net income surpasses $2.1 billion in 2018Calgary energy giant Imperial Oil reported on Friday impressive fourth-quarter and full-year earnings for 2018, as well as record annual gross production at the Kearl oil sands project of 206,000 barrels per day. In a news release, Imperial said its net income for the year of $2.134 billion was up $1.824 billion from 2017. Its…

Canadian venture-backed companies draw record funds in 2018

A report says that Toronto and Vancouver were the top markets in deal activity

Canadian venture-backed companies draw record funds in 2018Canadian venture-backed companies raised a record US$3.5 billion in 471 deals in 2018, according to the MoneyTree Canada report from PwC and CB Insights. The report said the year closed out strongly with a 79 per cent jump in funding to $983 million in the fourth quarter, up from $548 million in the previous quarter.…

Canadian Pacific Railway enjoys record four-quarter

Company says it continues to focus on a disciplined approach to sustainable, profitable growth

Canadian Pacific Railway enjoys record four-quarterCanadian Pacific Railway Ltd. reported on Wednesday that its fourth-quarter results included revenues of $2 billion, an operating ratio of 56.5 per cent and record operating income of $874 million. The company said fourth-quarter diluted earnings per share decreased 43 per cent to $3.83 from $6.77, but adjusted diluted earnings per share rose 41 per…

Bull market for Canadian commercial real estate continues

Avison Young report said Canada's office sector remained sound in 2018, though softness persisted in Alberta

Bull market for Canadian commercial real estate continues(Troy Media) The 10-year bull market in the Canadian commercial real estate sector continued in 2018, supported by the lowest unemployment rate in at least four decades, says Avison Young's 2019 North America, Europe and Asia Commercial Real Estate Forecast, which was released on Tuesday. “Strong performances in 2017 and 2018 have led to supply…

Shaw Communications posts net income of $187 million in quarter

‘Transforming into an agile, lean and digital-first organization,’ says CEO Brad Shaw

Shaw Communications posts net income of $187 million in quarterCalgary-based Shaw Communications Inc. reported on Monday net income of $187 million for its fiscal first quarter, which ended Nov. 30, 2018. It said net income rose from $111 million in the first quarter of fiscal 2018 “driven primarily by an increase in operating income before restructuring costs and amortization.” The company also said revenue…

Postmedia announces Q1 loss; Paul Godfrey stepping down as CEO

Postmedia announced Thursday the appointment of Andrew MacLeod as President and Chief Executive Officer

Postmedia announces Q1 loss; Paul Godfrey stepping down as CEOCanadian newspaper giant Postmedia announced Thursday the appointment of Andrew MacLeod as President and Chief Executive Officer, replacing Paul Godfrey as CEO of the media company. “It is with tremendous confidence that I recommended to the Board of Directors that the timing is right for Andrew MacLeod to take on the Chief Executive Officer position…

Husky looking at selling its gas stations

Retail and commercial network consists of more than 500 stations

Husky looking at selling its gas stationsHusky Energy has announced it is conducting a strategic review that could lead to it selling its Canadian retail and commercial fuels business, as well as its Prince George. B.C., refinery. “Our retail network and the Prince George refinery are excellent assets, with exceptional employees, which have made solid contributions to Husky over the years,”…

Energy industry giant TransCanada to change its name

’We believe the name TC Energy clearly articulates our complete business’

Energy industry giant TransCanada to change its nameTransCanada Corp. announced on Wednesday it will change its name to TC Energy “to better reflect the scope of the company’s operations as a leading North American energy infrastructure company.” The company said its shareholders will be asked to approve a special resolution to change the name at the company’s next annual and special meeting…

Canadian IPOs in 2018 down significantly from previous year

The top three issues were from three different sectors, a sign of diversity in the Canadian market

Canadian IPOs in 2018 down significantly from previous yearThe annual PwC survey of initial public offerings (IPOs) in Canada indicates that the fourth quarter of 2018 saw 22 new issues on three Canadian exchanges deliver $336 million in new equity, which brought the total for the year to $2.2 billion. This was less than half of the 2017 total and the final quarter…

The longest bull market in history may finally be over

Investors need to take care with their money as we head toward what will almost certainly be a bear market in 2019

The longest bull market in history may finally be overWhile the western world celebrated the Christmas season, the stock markets showed signs of distress. Investors saw two historic events: the largest point drop of the Dow Jones industrial average ever on Christmas Eve, followed by the largest one-day gain, 1,086 points, on Dec. 26. One would expect that after this historic rally of the…

Nimble, creative deal-makers concentrate on building, operating hotels

Eric Watson explains how MasterBUILT Hotels’ business strategy allows the company to succeed in challenging times

Nimble, creative deal-makers concentrate on building, operating hotelsEric Watson is president of MasterBUILT Hotels. Tell me about MasterBUILT Hotels – the history of the company, the number of hotels and where they’re located. Watson: MasterBUILT Hotels was formed in April 2011 by two prominent Calgary business leaders and friends – Jay Westman and Marc Staniloff – with the mission of developing 75…

Sharing medical information securely and in real time to better serve patients

Rohit Joshi talks about how Brightsquid’s patient information technology helps protect the viability of the health-care system

Sharing medical information securely and in real time to better serve patientsRohit Joshi is chief executive officer at Brightsquid. What is Brightsquid and how did it start? Joshi: Brightsquid Secure Communications Corp. is a Calgary-based communications software company that has developed technology to transfer patient information between doctors and between doctors and their patients. Clinics that use Brightsquid Secure Mail see improved patient safety and a reduction in wait times for…

Swob turns the student job hunting dynamic on its head

Co-founder Stephanie Florio talks about plans to expand the concept, which runs through an app

Swob turns the student job hunting dynamic on its headStephanie Florio is co-founder of Swob. It operates in the Toronto area but has plans to expand the concept to other areas. What is Swob and how did it come about? Florio: Swob is designed to make job searching for students easy and recruitment even easier. Using their smartphone, students looking for a job can…
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