Here are five things you need to know this morning
Carney to unveil next major projects: Prime Minister Mark Carney is set to unveil the second phase of major projects Thursday — with that list including mining and energy developments, sources have confirmed to CTV News. According to the sources, the new projects will include the Ksi Lisims liquified natural gas (LNG) project in British Columbia, Ontario’s Crawford nickel project, the Sisson Mine in New Brunswick and a hydroelectric development in Iqaluit. The list is also subject to change, the sources say. CBC News and the Globe and Mail were first to report on the projects.
Loblaw’s sales and profit rise: Revenue and profit rose in the latest quarter at Loblaw, slightly beating analyst estimates. The grocery chain says new store openings, pharmacy and healthcare services and sales promotions contributed to its financial performance. Loblaw says its on track for a profit increase of about 10 per cent for this year.
Mixed results for Martinrea: Profit in the latest quarter at Martinrea beat expectations; however, revenue fell almost four per cent, missing estimates. The Ontario-based auto-parts maker recorded decreases in the North America and Europe operating segments. The company says it also experienced a production disruption at one of its key customers. Martinrea expects to conclude agreements on tariff relief with its customers, covering most of its exposure before year end.
CAE shakeup: The new CEO of CAE is shaking up the company’s structure, including eliminating the chief operating officer role. The Montreal-based flight simulator maker will merge commercial and business aviation training into a single unit and slim its defence business down to two segments from three. Matthew Bromberg, who stepped into the captain’s chair in August, is also creating a vice-president of operations position to drive efficiency across the company along with “greater synergies” between the civil and defence businesses. CAE also announced its latest quarterly results, with adjusted profit falling slightly but topping analyst estimates.
Stingray $175M acquisition: Stingray Group is buying TuneIn, a live audio streaming company, for up to $175 million. The Montreal-based music and video distributor says the acquisition will expand its digital audio footprint and growth in streaming. Stingray also released its latest quarterly results today, which came in above expectations. We will be speaking to the company’s CEO, Eric Boyko, today on BNN Bloomberg at 11:40 am eastern time.
