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Loblaw Companies Ltd. L-T saw profits spike by 29 per cent in the third quarter, which the company attributed primarily to growth in sales at its drugstores – and attempted to send the message that it is not profiting from food inflation. Canada’s largest grocer on Wednesday reported net earnings available to common shareholders of $556-million or $1.69 per share in the 16 weeks ended Oct. 8, compared to $431-million or $1.27 per share in the same period last year. In a release on Wednesday, the Brampton, Ont.-based company wrote that its gross profit margins in food retail did not increase compared to the same period last year, when inflation began accelerating. Loblaw profited from increased sales of drugstore categories such as beauty products and cough and cold medicines, which have high profit margins, according to the company. Canadian grocery store operators have faced increasing scrutiny as prices for basic necessities have risen at a pace not seen in this country in 40 years...

Robert Iger arrives at the world premiere of "Star Wars: The Rise of Skywalker," in Los Angeles, on Dec. 16, 2019. Jordan Strauss/The Associated Press The Walt Disney Company announced late Sunday that former CEO Bob Iger would return to head the company for two years in a move that surprised the entertainment industry. Disney said Bob Chapek, who succeeded Iger in 2020, had stepped down from the position. “The Board has concluded that as Disney embarks on an increasingly complex period of industry transformation, Bob Iger is uniquely situated to lead the Company through this pivotal period,” board Chair Susan Arnold said in a statement from Disney. Arnold thanked Chapek for his service, including his time during “the unprecedented challenges of the pandemic.” Iger steered Disney through its absorption of Lucasfilm, Pixar, Marvel and Fox’s entertainment businesses and the launch of Disney Plus. Earlier this month, Disney posted lower than expected results for its fiscal fou...

FYI 12-21-97 (1).jpg robmag-bestmanaged-fyidoctors-1128 Handout FYidoctors Handout When it comes to running a company, rapid growth is, of course, generally considered to be a good thing. But when growth far surpasses expectations, maintaining company culture is challenging for even the most seasoned leaders. “In the past two years alone, growth has been more than triple what we budgeted for,” says Dr. Alan Ulsifer, founder and CEO of FYidoctors, a network of eye care and medical aesthetics clinics. The company, born in 2005 when a group of Albertan optometrists decided to merge their practices, has grown steadily via the acquisition of independent clinics. Last week, it merged with its biggest competitor, FunctionLab, to form the largest network of medical aesthetics clinics in the country. “We’re excited about all this growth, but onboarding so many new people can be stressful. Our biggest challenge has been making sure companies that join us have a good experience,” says U...

The Canadian dollar CADUSD strengthened against its U.S. counterpart on Wednesday, clawing back nearly all of its previous day’s decline, as hopes that China would soon reopen its economy bolstered commodity prices. The price of oil, one of Canada’s major exports, was up 3.8 per cent at $81.14 a barrel on signs of tighter supply and optimism over a Chinese demand recovery. The Chinese city of Guangzhou has relaxed COVID prevention rules in several districts in an effort to implement rules authorities announced this month aimed at easing the burden of the strict zero-COVID policy. World equity markets were lifted by hopes that inflation is peaking and a re-opening of China’s economy is near, while the U.S. dollar lost ground against a basket of major currencies ahead of a speech by U.S. Federal Reserve Chair Jerome Powell later in the day. The Canadian dollar was trading 0.6 per cent higher at 1.3502 to the greenback, or 74.06 U.S. cents, after moving in a range of 1.3497 to 1.3593. A...

U.S. trade officials on Thursday are expected to issue a preliminary decision on whether to impose tariffs on solar panels from four Southeast Asian nations, a move clean energy advocates argue would stall projects and harm progress in combatting climate change. The Commerce Department’s finding will mark the latest development in a long-standing effort by U.S. solar panel producers to stem the flow of cheap Asian goods that they argue make their products uncompetitive. But even if the agency decides the tariffs are warranted, the levies would not take effect for two years thanks to a moratorium imposed by President Joe Biden earlier this year after solar companies said the mere threat of tariffs was freezing projects nationwide. The waiver is meant to allow U.S. manufacturing time to ramp up, the White House said. Biden has a goal of weaning the U.S. electricity sector off of fossil fuels by 2035, a target that could propel solar to supply up to 40 per cent of the nation’s power nee...

The Canadian dollar CADUSD weakened to a six-day low against its U.S. counterpart on Monday, as investors worried that signs of U.S. economic resilience would extend the length of the Federal Reserve’s campaign to raise interest rates. The loonie was trading 1% lower at 1.3601 to the greenback, or 73.52 U.S. cents, its weakest level since last Tuesday. “The CAD is down as the movement in the currency continues to be more correlated with the S&P 500 then the price of oil,” said Tony Valente, senior FX dealer at AscendantFX. “Right now, the market is taking good economic news as bad news for equities because it means that the Fed and the Bank of Canada would be hiking rates higher for longer.” The main U.S. benchmarks dropped as investors fretted that better-than-expected service-sector activity challenged potential for a less aggressive stance by the Fed. Canada is a major producer of commodities, including oil, so the loonie tends to be sensitive to shifts in investor sentiment. ...

Canfor Corp. CFP-T is temporarily reducing its Canadian production due to what it says are very weak market conditions. The Vancouver-based company says there will be curtailments at all of its solid wood facilities in B.C. and Alberta. It says the move will reduce production by about 150 million board feet in December and January. Canfor chief executive Don Kayne says the company will work to mitigate the affects on employees by providing support and identifying meaningful work during the downtime. The curtailments will begin to be implemented on Dec. 19 and range from one to four weeks across its Canadian operations. Canfor says it will continue to adjust operating rates to align with market conditions and anticipates that the majority of its B.C. facilities will operate below full capacity in the new year. https://www.tausiinsider.com/canfor-temporarily-reducing-its-canadian-production-due-to-weak-market-conditions/?feed_id=330426&_unique_id=644b2c6677ecd

Saudi Crown Prince Mohammed Bin Salman shakes hands with Chinese President Xi Jinping during the China-Arab summit in Riyadh, Saudi Arabia on Dec. 9. SAUDI PRESS AGENCY/Reuters President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing’s goal to establish its currency internationally and weaken the U.S. dollar’s grip on world trade. Xi was speaking in Saudi Arabia where Crown Prince Mohammed bin Salman hosted two “milestone” Arab summits with the Chinese leader which showcased the powerful prince’s regional heft as he courts partnerships beyond close historic ties with the West. Top oil exporter Saudi Arabia and economic giant China both sent strong messages during Xi’s visit on “non-interference” at a time when Riyadh’s relationship with Washington has been tested over human rights, energy policy and Russia. Any move by Saudi Arabia to ditch the dollar in its oil trade would be a seismic political move, w...

The Canadian dollar CADUSD edged lower against its U.S. counterpart on Wednesday but the move was limited as oil extended recent gains and investors awaited a key U.S. inflation report this week. The price of oil, one of Canada’s major exports, rose for a fifth consecutive day as investors weighed an unexpected build in U.S. crude inventories, global economic uncertainty and China reopening its economy. U.S. crude prices were up 1.8 per cent at $76.46 a barrel, while stock markets globally climbed on hopes that inflation was being tamed enough to ease the pace of interest rate hikes and reduce the chances of a deep recession. U.S. consumer price index data for December is due on Thursday. The Canadian dollar was trading 0.1 per cent lower at 1.3430 to its U.S. counterpart, or 74.46 U.S. cents, after moving in a range of 1.3405 to 1.3445. On Monday, it touched a six-week high at 1.3355, helped by recent improvement in risk appetite and domestic jobs data that has raised expectations f...

The Canadian dollar CADUSD strengthened to its highest level in nearly seven weeks against its U.S. counterpart on Thursday as oil prices rose and investors cheered data showing that U.S. inflation pressures are subsiding. The loonie was trading 0.4% higher at 1.3365 to the greenback, or 74.82 U.S. cents, after touching its strongest since Nov. 25 at 1.3346. “Policy-makers will be reluctant to declare victory in the battle on inflation but market conviction that this is at least the beginning of the end of the war is likely to grow,” Shaun Osborne, chief currency strategist at Scotiabank, said in a note. “Peak U.S. inflation means peak U.S. yields which in turns means peak USD.” The U.S. dollar fell against a basket of major currencies and equity markets globally rose as U.S consumer prices unexpectedly fell for the first time in more than 2-1/2 years in December. Signs that inflation is slowing could support a move by the Federal Reserve to dial back the pace of its aggressive campa...

Tesla Inc TSLA-Q has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals after missing Wall Street delivery estimates for 2022. The move marks a reversal from the automaker’s strategy over the last two years when new vehicle orders exceeded supply. It comes after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower prices to sustain growth at the expense of profit. Musk acknowledged last year that prices had become “embarrassingly high” and could hurt demand. Shares ended down 0.9% after falling as much as 6.4% on Friday. Last year, Tesla stock had its worst year since the company’s inception due to slowing growth in China and Musk’s distraction with Twitter. Tesla lowered prices across the United States, Europe, the Middle East and Africa, following a series of cuts last week in Asia, in what analysts saw as a clear shot at both smaller rivals that have bee...

The Canadian dollar CADUSD strengthened against its U.S. counterpart on Thursday, recovering from a nearly two-week low, but the move was limited as global equity markets lost ground and domestic data showed wholesale trade rising less than expected in November. Canadian wholesale trade increased by 0.5 per cent in November from October on higher sales in the motor vehicle and motor vehicle parts and accessories subsector, Statistics Canada said. Analysts had forecast an increase of 1.9 per cent. Stocks have been falling this week as economic data in the United States renewed fears of a global recession, but the price of oil, one of Canada’s major exports, regained some of the ground it lost on Wednesday. U.S. crude prices rose 0.7 per cent to $80.02 a barrel, while the Canadian dollar was trading 0.3 per cent higher at 1.3455 to the greenback, or 74.32 U.S. cents, after touching its weakest intraday level since Jan. 6 at 1.3520. Separate domestic data showed that home prices fell 1....

Photo : Sharaf Maksumov ( Shutterstock ) Our personal data shows up in so many public online spaces. But while there are ways to review and delete your data from social media profiles or even Google search , one place you may not think to check is your property’s listing on sites like Redfin, Zillow, or Realtor.com. While it’s unlikely someone will lift sensitive data like, say, your billing information from these apps or websites, they can be used by identity thefts, scammers, or even stalkers to verify your address and see what the house looks like, both inside and out. Luckily, you can remove photos of your home from listing property sites like Realtor.com, Redfin, and Zillow. Doing so can keep you (or your tenant’s) personal info safe. You first need to claim ownership of the home on each site where you want to remove listing photos and other information. Each platform’s ownership verification process differs, but the steps are simple to follow. Here’s how to get started: Rea...