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03cff03df451980641d25c56f4a96bd2	https://www.reuters.com/article/marketsNews/idCAFWN1SG1MQ?edition-redirect=ca	BRIEF-Firm Capital Property Trust - FFO Per Unit For Three Months Ended March 31, 2018 Was $0.122	BRIEF-Firm Capital Property Trust - FFO Per Unit For Three Months Ended March 31, 2018 Was $0.122 By Reuters Staff1 Min Read May 9 (Reuters) - Firm Capital Property Trust: * FIRM CAPITAL PROPERTY TRUST - FFO PER UNIT FOR THREE MONTHS ENDED MARCH 31, 2018 WAS $0.122 * FIRM CAPITAL PROPERTY TRUST - QTRLY AFFO PER UNIT WAS $0.106 Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
abb572c8828e959202616563b11301ce	https://www.reuters.com/article/marketsNews/idCAFWN1SH0TW?edition-redirect=ca	BRIEF-WSP Global Reports Q1 Adjusted Earnings Per Share C$0.53	BRIEF-WSP Global Reports Q1 Adjusted Earnings Per Share C$0.53 By Reuters Staff1 Min Read May 10 (Reuters) - WSP Global Inc: * WSP GLOBAL INC Q1 ADJUSTED SHR C$0.53 * WSP GLOBAL INC Q1 SHR C$0.48 * WSP GLOBAL INC QUARTERLY REVENUES OF $1,910.7 MLN, UP 16.9% * WSP GLOBAL INC QUARTERLY NET REVENUES OF $1,469.7 MLN, UP 15.2% * WSP GLOBAL INC Q1 SHR VIEW C$0.60, REV VIEW C$1.46 BLN -- THOMSON REUTERS I/B/E/S * WSP GLOBAL INC - FULL YEAR 2018 FINANCIAL OUTLOOK REITERATED * WSP GLOBAL INC - QTR-END BACKLOG AT $6,718.8 MLN, UP 5.6% COMPARED TO Q4 2017 * WSP GLOBAL INC FY2018 SHR VIEW C$3.29, REV VIEW C$5.99 BLN -- THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
a1421b80ab359e8ad091b0c84bb5e688	https://www.reuters.com/article/marketsNews/idCAFWN1SH17C?edition-redirect=ca	BRIEF-TMX Group: Installed Permanent Systems To Resolve Issues After Outage - Conf Call	BRIEF-TMX Group: Installed Permanent Systems To Resolve Issues After Outage - Conf Call By Reuters Staff1 Min Read May 10 (Reuters) - TMX Group Ltd: * HAVE INSTALLED PERMANENT SYSTEMS TO RESOLVE ISSUES AFTER EXCHANGE EXPERIENCED SHUTDOWN LAST MONTH - CONF CALL * HAVE NOT SEEN ANY CHANGE IN MARKET SHARE SINCE EXCHANGE SHUTDOWN ON APRIL 27 - CONF CALL * DID NOT INCUR MATERIAL EXPENSES IN CHANGING TECHNOLOGY AFTER EXCHANGE SHUTDOWN - CONF CALL Further company coverage: ([email protected]) Our Standards: The Thomson Reuters Trust Principles.
c537b6fd5518d26bc4ba084119197e7b	https://www.reuters.com/article/marketsNews/idCAFWN1SH1NQ?edition-redirect=ca	BRIEF-Mountain Province Diamonds Qtrly Earnings From Mine Operations $0.00 Per Share	BRIEF-Mountain Province Diamonds Qtrly Earnings From Mine Operations $0.00 Per Share By Reuters Staff1 Min Read May 10 (Reuters) - Mountain Province Diamonds Inc: * MOUNTAIN PROVINCE DIAMONDS INC - QTRLY EARNINGS FROM MINE OPERATIONS $0.00 PER SHARE * MOUNTAIN PROVINCE DIAMONDS INC - QTRLY TOTAL SALES OF $67 MILLION Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
60af781693a71e043e80b821609952b2	https://www.reuters.com/article/marketsNews/idCAFWN1SN0ME?edition-redirect=ca	BRIEF-Whitecap Resources Inc. Receives TSX Approval For Renewed Normal Course Issuer Bid	BRIEF-Whitecap Resources Inc. Receives TSX Approval For Renewed Normal Course Issuer Bid By Reuters Staff1 Min Read May 16 (Reuters) - Whitecap Resources Inc: * WHITECAP RESOURCES INC. RECEIVES TSX APPROVAL FOR RENEWED NORMAL COURSE ISSUER BID AND CONFIRMS MONTHLY DIVIDEND FOR MAY OF $0.0257 PER SHARE * WHITECAP RESOURCES INC - NCIB ALLOWS WHITECAP TO PURCHASE UP TO 20.9 MILLION COMMON SHARES OVER A PERIOD OF TWELVE MONTHS COMMENCING ON MAY 18, 2018 Source text for Eikon: Further company coverage: ([email protected]) Our Standards: The Thomson Reuters Trust Principles.
b87bd78b16124e896477e81b222bbd8e	https://www.reuters.com/article/marketsNews/idCAFWN1SN0NH?edition-redirect=ca	BRIEF-Yamana Gold Says 2018-2020 Production Expectations For Cerro Moro Unchanged	BRIEF-Yamana Gold Says 2018-2020 Production Expectations For Cerro Moro Unchanged By Reuters Staff1 Min Read May 16 (Reuters) - Yamana Gold Inc: * YAMANA GOLD INC - 2018 TO 2020 PRODUCTION EXPECTATIONS FOR CERRO MORO ARE UNCHANGED FROM GUIDANCE PROVIDED EARLIER IN 2018 Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
50e4956a3862363895e20275772ae721	https://www.reuters.com/article/marketsNews/idCAFWN1SN0Z8?edition-redirect=ca	BRIEF-Flyht Aerospace Solutions - Qtrly Revenue Of $3.3 Mln	BRIEF-Flyht Aerospace Solutions - Qtrly Revenue Of $3.3 Mln By Reuters Staff1 Min Read May 16 (Reuters) - FLYHT Aerospace Solutions Ltd: * FLYHT AEROSPACE SOLUTIONS LTD - QTRLY REVENUE OF $3.3 MILLION WHICH REPRESENTS A 12.3 PCT DECREASE FROM Q1 OF 2017 * FLYHT AEROSPACE SOLUTIONS LTD - QTRLY NET LOSS OF $582,375 Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
fdd0c21e57aeb67d2d386d3c70d69750	https://www.reuters.com/article/marketsNews/idCAFWN1ST0ER?edition-redirect=ca	BRIEF-Chesswood Group Ltd Sets Cash Dividend Of C$0.07 Per Share	BRIEF-Chesswood Group Ltd Sets Cash Dividend Of C$0.07 Per Share By Reuters Staff1 Min Read May 22 (Reuters) - Chesswood Group Ltd: * CHESSWOOD GROUP LTD - SETS CASH DIVIDEND OF C$0.07 PER SHARE * CHESSWOOD GROUP LTD - ANNOUNCED CASH DIVIDEND OF $0.07 PER SHARE FOR MONTH OF MAY Source text for Eikon: Further company coverage: Our Standards: The Thomson Reuters Trust Principles.
5fd3ae526a82c6a18cde43ee92466ed9	https://www.reuters.com/article/marketsNews/idCAFWN2CU15W?edition-redirect=ca	W SKRÓCIE-KGHM dofinansuje Sierra Gorda o dodatkowe 55 mln USD	W SKRÓCIE-KGHM dofinansuje Sierra Gorda o dodatkowe 55 mln USD By Reuters Staff1 Min Read 12 maja (Reuters) - KGHM Polska Miedz SA: * INFORMUJE O KOREKCIE ZAŁOŻENIA BUDŻETU GRUPY NA 2020 R. W ZAKRESIE POZOSTAŁYCH NAKŁADÓW INWESTYCYJNYCH POPRZEZ ZWIĘKSZENIE BAZOWEJ KWOTY 133 MLN PLN O RÓWNOWARTOŚĆ KWOTY 55 MLN USD * ZWIĘKSZENIE WIELKOŚCI NAKŁADÓW INWESTYCYJNYCH JEST BEZPOŚREDNIO ZWIĄZANE Z ZAMIERZONYM UDZIELENIEM DOFINANSOWANIA WŁAŚCICIELSKIEGO SIERRA GORDA W KWOCIE 55 MLN USD * KONIECZNOŚĆ DODATKOWEGO FINANSOWANIA SIERRA GORDA SPOWODOWANA NIŻSZYMI RYNKOWYMI CENAMI METALI SPOWODOWANYMI M.IN. WPŁYWEM PANDEMII COVID-19 NA GLOBALNE RYNKI SUROWCOWE Pełny komunikat spółki w serwisie Eikon jest dostępny tutaj: Aby zobaczyć pozostałe depesze na temat spółki, kliknij tutaj (Gdansk Newsroom) Our Standards: The Thomson Reuters Trust Principles.
a45b8418b34340ccf4ecc5cc3adb0922	https://www.reuters.com/article/marketsNews/idCAL1N1KI1D8?edition-redirect=ca	BRIEF-Teck Resources CEO sees no tempting acquisition targets	BRIEF-Teck Resources CEO sees no tempting acquisition targets By Reuters Staff1 Min Read July 27 (Reuters) - Teck Resources * Teck Resources CEO says no tempting acquisition targets out there, company focusing on internal projects such as QB2 * Coal marketing head says interested in increasing coal sales to India, which represents about 10 percent of Teck’s coal sales Source text for Eikon: Further company coverage: (Reporting by Nicole Mordant) Our Standards: The Thomson Reuters Trust Principles.
0823a3206258fb0535b7fbe83c51a9a1	https://www.reuters.com/article/marketsNews/idCAL1N1KJ0ZS?edition-redirect=ca	BUZZ-First Solar's sunny outlook greens group	BUZZ-First Solar's sunny outlook greens group By 1 Min Read Solar stocks see green after First Solar Inc’s strong full-year forecast FSLR jumps >10 pct to near 1-year high after co’s Q2 beat and raise, citing strong demand for solar panels and robust market for U.S. asset sales Co bumps its 2017 sales forecast by $150 mln, hikes adj EPS sharply to between $2-$2.50 from prior guide of 25-75 cents Brokers raise their PTs. Deutsche goes to $50 from $47; analyst Vishal Shah gets 5 out of 5 stars by StarMine for estimate accuracy on stock Cowen raises to $57 from $52; Baird ups by most, to $50 from $38 SunPower Corp and Solaredge Technologies rise 3 pct, Nextera Energy Partners up >1 pct Canadian Solar Inc, JinkoSolar Holding Co up ~2 pct Of 19 analysts covering First Solar, 8 rate “buy” or higher, rest “hold”; median PT $51, up from $37 three mths ago ** FSLR recently up 7 pct at $47.95. Stock extends YTD gain to ~50 pct vs Guggenheim Invest Solar ETF’s 30 pct advance
76b81556c716c4470b280ac565a67a83	https://www.reuters.com/article/marketsNews/idCAL1N1KJ18U?edition-redirect=ca	Exxon Mobil profit disappoints Wall Street, Chevron shines	Exxon Mobil profit disappoints Wall Street, Chevron shines By Ernest Scheyder5 Min Read HOUSTON (Reuters) - Exxon Mobil Corp XOM.N posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. REUTERS/Toru Hanai/File Photo Exxon's results were overshadowed by rival Chevron Corp CVX.N, which easily exceeded Wall Street's expectations with a double-digit percentage increase in production. Royal Dutch Shell Plc RDSa.L, Total SA TOTF.PA and Statoil ASA STL.OL this week delivered profits that topped expectations also. Chevron for years has downplayed profits to spend heavily on megaprojects in Australia, the U.S. Gulf of Mexico and elsewhere. That spending now is boosting Chevron’s profit, whereas Exxon has fewer projects about to come online and many of its older assets require more capital to maintain. While profit rose sharply from a year earlier, the Irving, Texas-based company’s production slipped about 1.0 percent. “Exxon continues to really struggle on getting its output up,” said Edward Jones analyst Brian Youngberg. “Chevron is going from a cash spender to a cash generator, even without commodity prices improving,” he said. Shares of Exxon fell about 2.0 percent to $79.17 in Friday afternoon trading while shares of Chevron gained more than 2.0 percent to $108.53 per share. Oil prices CLc1 rose on Friday to a two-month high. Exxon's stock was the worst drag on the Dow Jones industrial average .DJI, while shares of Chevron led the index higher. Both companies said they would continue to deploy drilling rigs and other equipment to the Permian Basin, the largest U.S. oilfield. That expansion, along with similar plans by other U.S. shale peers, is likely to further irritate the Organization of the Petroleum Exporting Countries, which have tried with mixed success this year to tame an oversupply of crude oil. Exxon posted second-quarter net income of $3.35 billion, or 78 cents per share, compared to $1.7 billion, or 41 cents per share, a year earlier. Analysts expected earnings of 84 cents per share, according to Thomson Reuters I/B/E/S. In Africa, where Exxon produces in Nigeria, Angola and elsewhere, production slipped 16 percent due to declining fields rates and project delays. Imperial Oil Ltd IMO.TO, which is majority controlled by Exxon and operates in Canada's oil sands region, posted a net loss, denting Exxon's results from that country. Exxon’s Kearl oil sands operations in Alberta were partly offline, hurting Canadian production. Still, Exxon sought to highlight the positive, stressing its growth opportunities in liquefied natural gas (LNG), especially in Qatar, where it has invested billions. Despite a recent diplomatic row with its Gulf Arab neighbors, Qatar “is a very important partnership for us” and Exxon is “very interested” in expanding operations there, company executive Jeff Woodbury told investors on a Friday conference call. Any expansion would be years away from boosting Exxon’s results. Reuters reported earlier this month that Exxon Chief Executive Darren Woods has been lobbying Qatar to take part in LNG expansions. CHEVRON SHINES San Ramon, California-based Chevron boosted output by 10 percent and cut its costs, part of what executives called a pivot to earnings growth. The company reported second-quarter net income of $1.45 billion, or 77 cents per share, compared to a net loss of $1.47 billion, or 78 cents per share, in the year-ago quarter. Excluding one-time items, the company earned 91 cents per share. By that measure, analysts expected earnings of 87 cents per share, according to Thomson Reuters I/B/E/S. Chevron’s cash flow dropped more than Exxon’s, when compared to the same quarter last year, but with a steady stream of projects coming online, nearly all Wall Street analysts have said they prefer Chevron more than its Texas-based rival. Chevron’s Gorgon LNG project in Australia had suffered setbacks since coming online, including several temporary shutdowns earlier this year. But those appear to be behind the company, and Chevron said its second LNG project in Australia, at Wheatstone, should be operational later this year, further boosting profit. Reporting by Ernest ScheyderOur Standards: The Thomson Reuters Trust Principles.
da1f379205f929747a420d7c01c55e88	https://www.reuters.com/article/marketsNews/idCAL1N1KV28I?edition-redirect=ca	First Quantum to shutter Australia nickel mine in September	First Quantum to shutter Australia nickel mine in September By Nicole Mordant3 Min Read VANCOUVER (Reuters) - First Quantum Minerals Ltd said on Wednesday it plans to suspend operations at its Ravensthorpe nickel mine in Western Australia next month due to persistently weak nickel prices, affecting around 450 employees and contractors. First Quantum Minerals Chairman, CEO and Director Philip Pascall speaks during their annual general meeting for shareholders in Toronto, May 9, 2012. REUTERS/Mark Blinch The mine will be placed on care and maintenance, which is expected to take effect in early October, it said. “This decision is disappointing to us,” First Quantum Chairman and Chief Executive Philip Pascall said in a statement, blaming “continuing depressed nickel market conditions, over some years.” The suspension comes despite moves by some miners to combat weak traditional markets for nickel in steelmaking by moving to capture demand from the burgeoning electric vehicle battery market. BHP on Wednesday unveiled plans to target the battery market for its once-ailing Nickel West division, based 500 kms (310 miles) from the Ravensthorpe mine. Glencore Plc’s nearby Murrin Murrin nickel operation “remains business as usual”, as it too sees opportunities in electric batteries, a company spokesman said. Vancouver-based First Quantum said the latest shutdown at the mine, located 500 kms southeast of Perth, would cost an estimated $10 million. Subsequent annual maintenance is expected to cost around $5 million. Ravensthorpe produced 23,624 tonnes of nickel in 2016 against a global market of around 1.8 million tonnes. “Ravensthorpe makes one of the perfect nickel products to go into the battery space,” said UBS commodities analyst Daniel Morgan. “The battery companies run the risk that all these nickel mines they are going to need are going to start shutting because they are not paying up enough for the nickel.” Shares in First Quantum, which primarily produces copper, fell on the news, ending 4.6 percent lower at C$13.41 on the Toronto Stock Exchange. Nickel prices are off by nearly two-thirds since early 2011, weighed down by a supply glut. Ravensthorpe resumed operations that year after it had been shut down by its previous owner BHP Billiton Ltd in 2009, when nickel prices also dropped. First Quantum bought Ravensthorpe from BHP in 2010 for $340 million. Of the 450 people working at the Ravensthorpe site, roughly half are direct employees and the rest contractors, company spokeswoman Sharon Loung said in an email. The permitting process for the Shoemaker Levy orebody at Ravensthorpe would carry on along with regular reviews of market conditions for a potential restart of the mine. Reporting by Nicole Mordant in Vancouver; Additioan reporting by Melanie Burton in MELBOURNE and James Regan in SYDNEY; Editing by G Crosse and Richard PullinOur Standards: The Thomson Reuters Trust Principles.
980a4f3e62a376e64b4e2b519bf0c01b	https://www.reuters.com/article/marketsNews/idCAL1N1NE2FY?edition-redirect=ca	Canadian insurers Manulife, Sun Life beat earnings forecasts	Canadian insurers Manulife, Sun Life beat earnings forecasts By Reuters Staff3 Min Read TORONTO (Reuters) - Two of Canada’s biggest insurance companies reported third-quarter earnings on Wednesday that beat market expectations, benefiting in part from strong growth in Asia. Canadian insurance companies are expanding rapidly in Asia, selling products to the rapidly growing middle class. The strategy is helping the firms drive growth and diversify from domestic markets where competition is intense. Canada's biggest insurer, Manulife Financial Corp MFC.TO, said on Wednesday that earnings per share, excluding one-off items, rose to C$0.53 in the third quarter ended Sept. 30 from C$0.49 in the same period the year before. Analysts had, on average, forecast earnings per share excluding one-off items of C$0.52, according to Thomson Reuters I/B/E/S data. Manulife reported net income, excluding one-off items, of C$1.1 billion ($864 million), up from C$996 million the year before. But it set aside C$240 million to cover the impact on its property and casualty reinsurance business from damage caused by hurricanes Harvey, Irma and Maria. “We delivered solid core earnings and net income in the third quarter, particularly given the provision for catastrophe claims,” said Manulife Chief Executive Officer Roy Gori, who took up his role in October. Gori said Manulife had benefited from double-digit core earnings growth and increased sales in Asia and a 31st consecutive quarter of positive net flows in its global wealth and asset management business. Sun Life Financial SLF.TO reported earnings per share, excluding one-off items, of C$1.05 in the third quarter to Sept. 30, compared with C$1.04 in the same period the year before. Analysts had, on average, forecast earnings, excluding one-off items, of C$1.01 Canadian cents per share, according to Thomson Reuters I/B/E/S data. Sun Life reported underlying net income, excluding one-off items, of C$643 million, up from C$639 million a year ago. Underlying net income at its Asian business increased to C$90 million from C$80 million a year ago. “Asia really is the fastest growing of our four businesses driven by strong economic and demographic growth with people moving up into the middle class seeking what our industry has to offer,” Chief Executive Dean Connor said in an interview. “Those forces should drive strong growth, over the medium term, in Asia.” Connor said Sun Life was considering further acquisitions in the region. “We’re always looking,” he said. I think acquisitions will continue to be an important part of our growth strategy.” Reporting by Matt Scuffham; Editing by Chris Reese and Peter CooneyOur Standards: The Thomson Reuters Trust Principles.
3554ed97f2dff7785d632ec6055101ea	https://www.reuters.com/article/marketsNews/idCAL1N1NF1K2?edition-redirect=ca	BRIEF-Transcanada says it has adequate commercial support for Keystone XL pipe	BRIEF-Transcanada says it has adequate commercial support for Keystone XL pipe By Reuters Staff1 Min Read Nov 9 (Reuters) - Transcanada Corp * Says it has adequate commercial support for Keystone XL pipeline, just needs to work out terms Source text for Eikon: Further company coverage: (Reporting by Ethan Lou) Our Standards: The Thomson Reuters Trust Principles.
3c0b5163edaccae1cabaf26322f5af74	https://www.reuters.com/article/marketsNews/idCAL1N1NG00Q?edition-redirect=ca	TMX Group quarterly profit rises 32.4 percent on lower expenses	TMX Group quarterly profit rises 32.4 percent on lower expenses By Reuters Staff2 Min Read A TMX Group sign, the company that runs the Toronto Stock Exchange (TSX), is seen in Toronto, June 23, 2014. REUTERS/Mark Blinch/File Photo (Reuters) - TMX Group Ltd X.TO, Canada's biggest stock exchange operator, reported a better-than-expected third-quarter profit on Thursday, as its cost-cutting drive helped lower operating expenses. Net income attributable to the group’s shareholders for the quarter ended Sept. 30 rose to C$51.9 million, or 94 Canadian cents per share, from C$39.2 million or 72 Canadian cents per share, a year earlier. Excluding items, TMX, which owns the Toronto Stock Exchange, posted a profit of C$1.06 per share, compared with the C$1.04 per share analysts had expected on average, according to Thomson Reuters I/B/E/S. Revenue fell 7.9 percent to C$166.1 million because of lower trading in equities and derivatives. Operating expenses fell 11 percent to C$92.5 million, helped by recent efforts to streamline the company, Chief Financial Officer John McKenzie said in a statement. The company said last month it would buy Trayport, a London-based energy trading software firm, from Intercontinental Exchange Inc ICE.N in a deal worth C$931 million. As part of the deal for more global exposure and recurring revenue, TMX agreed to sell to ICE its Natural Gas Exchange Inc (NGX) and Shorcan Energy Brokers Inc, plus C$592 million in cash. Reporting by Karan Nagarkatti in Bengaluru; Editing by Chris Reese and Peter CooneyOur Standards: The Thomson Reuters Trust Principles.
e8aed9e239efa3fcc97351243157dbff	https://www.reuters.com/article/marketsNews/idCAL1N1NN1W4?edition-redirect=ca	Canada's CN Rail on hiring spree as shipments surge	Canada's CN Rail on hiring spree as shipments surge By Rod Nickel, Allison Lampert3 Min Read WINNIPEG, Manitoba/MONTREAL (Reuters) - Canadian National Railway Co CNR.TO plans to extend a major hiring spree into next year as Canada's biggest freight railroad scrambles to handle surging shipments and fill vacancies, a company official said on Friday. FILE PHOTO: Locomotives move through the Canadian National (CN) railyards in Edmonton February 22, 2015. REUTERS/Dan Riedlhuber/File Photo The hiring blitz, which has added 3,500 workers through this year and calls for at least 2,000 more in 2018, follows significant job cuts in 2015 and 2016 and reflects a resurgent economy and stiffer competition from Canadian Pacific Railway Ltd CP.TO. The 5,500 new hires in Canada and the United States would represent nearly one-quarter of CN’s workforce, and include roughly 1,700 new positions. Much of the hiring focuses on western Canada, where business is brisk hauling bumper crops and intermodal containers to port, Doug Ryhorchuk, a CN vice president of operations, said in an interview. He said CN’s freight business had been increasing “right across the board,” however. CN has also seen a surge this year in the volume of sand being shipped for use in fracking shale rock to produce oil and gas. CN’s network runs through Wisconsin where high-quality sand supplies are located. Grain exporters are waiting to assess CN’s changes, as its service this autumn has been poor, said Wade Sobkowich, executive director of the Western Grain Elevator Association, whose members include Cargill Inc [CARG.UL] and Richardson International. Canadian Pacific’s grain-shipping service, meanwhile, has improved, he said. In an RBC shipper survey this week, CN fell three spots in an annual ranking of service. CN has been a victim of its own success in growing its business to the point of straining capacity, said Edward Jones analyst Dan Sherman. Ray Donegan, general chairperson of the Teamsters Canada Rail Conference, a union for some CN workers, said the company’s training facility is packed with hires that take up to six months to train. “It’s been non-stop for the better part of this year,” he said. At times CN has found it difficult to staff trains, Donegan added. CN is stepping up hiring as CP sees its own pickup in shipments and makes greater efforts to win customers. CP plans to hire for new positions only if additions are justified by customer needs and potential revenue growth, spokesman Martin Cej said. It hired or rehired 1,100 people this year to offset regular attrition, he said. Reporting by Rod Nickel in Winnipeg, Manitoba and Allison Lampert in Montreal; editing by James Dalgleish and Tom BrownOur Standards: The Thomson Reuters Trust Principles.
1288684e67b4acd04c2c18693c284c77	https://www.reuters.com/article/marketsNews/idCAL1N1O01EH?edition-redirect=ca	Enbridge shares jump after company targets $2.3 billion asset sales	Enbridge shares jump after company targets $2.3 billion asset sales By Reuters Staff3 Min Read CALGARY, Alberta (Reuters) - Enbridge Inc shares jumped 6.3 percent on Thursday after North America’s largest energy infrastructure company announced plans to sell C$3 billion ($2.3 billion) of non-core assets to focus on its “crown jewels.” FILE PHOTO - Pipelines run to Enbridge Inc.'s crude oil storage tanks at their tank farm in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo The company is also raising C$1.5 billion by selling new shares to pay down debt, and identified C$22 billion worth of projects it intends to complete through 2020. The Calgary, Alberta-based company is realigning its focus as it looks beyond the $28 billion acquisition of Spectra Energy Corp that closed this year. The takeover, the most significant energy deal since commodity prices crashed in mid-2014, highlighted how pipeline companies were under pressure to merge as they grappled with overcapacity and sliding tariffs that have slowed dividend growth and unnerved investors. Enbridge’s shares had fallen by about a third to C$41.09 after the crash and have yet to fully recover, in line with the Canadian energy index. They rose as much as 8.1 percent on Thursday before closing at C$48.65, valuing the company at $62 billion. The energy index rose 2.2 percent. The company’s announcement addressed much of the uncertainty of the last earnings conference call, when executives had been vague on capital allocation and distribution policy, said Manash Goswami, senior vice president and portfolio manager at First Asset ETFs, which holds Enbridge shares. “I think it’s pretty credible,” he said of the asset sales. “They’ve basically kind of addressed all the concerns that the market’s been hung up on.” Among Enbridge’s future projects is its $6.5 billion Line 3 replacement program, its biggest yet, which seeks to upgrade an oil pipeline from Hardisty, Alberta, to Superior, Wisconsin. The company said late on Wednesday it has also identified another C$7 billion in non-core assets to divest including unregulated gas gathering and processing businesses and onshore renewables in the United States and Canada. Enbridge is speeding up debt reduction to help strengthen the balance sheet and increase its dividend by 10 percent. Analysts broadly viewed the move as positive, even as some called the share issuance “unexpected” and lowered their price targets. Chief Executive Al Monaco said Enbridge would concentrate on its three “crown jewel” businesses: liquids pipelines and terminals, natural gas transmission and storage and natural gas utilities. “The acquisition of Spectra Energy has significantly diversified our asset base and opportunity set, and repositioned Enbridge for the future,” he said in a statement. ($1 = 1.2854 Canadian dollars) Reporting by Nia Williams and Ethan Lou; Editing by Bernadette Baum and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
0a5bfc4c9196d09ee2bbb71634adb090	https://www.reuters.com/article/marketsNews/idCAL1N1O427E?edition-redirect=ca	Kinder Morgan warns pipeline expansion could be further delayed	Kinder Morgan warns pipeline expansion could be further delayed By Reuters Staff2 Min Read VANCOUVER, Dec 4 (Reuters) - Kinder Morgan Canada said on Monday the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020 if it is unable to get more clarity around permitting and the judicial process by early next year. The company, which has asked Canada’s energy regulator to help resolve disputes with a local municipality over permits for the C$7.4 billion ($5.8 billion) expansion, said in a statement that it needs certainty by early 2018 to move ahead with construction. “Unfortunately, the scope and pace of the permits and approvals received does not allow for significant additional construction to begin at this time,” Kinder Morgan Canada Chief Executive Steve Kean said in the statement. The expansion of the pipeline from Alberta’s energy heartland to a port near Vancouver would nearly triple capacity to 890,000 barrels per day. The company had previously said that completion of the expansion could be pushed back by nine months, from December 2019 to September 2020, due to the permitting issues. It said it hoped to mitigate the delays by speeding up work in certain areas. The unit of Houston-based Kinder Morgan Inc also said it had earmarked C$1.8 billion for spending on the project in 2018, but noted that further construction delays would lead to reduced 2018 spending. It said it planned to spend the first part of the year advancing the permitting process. The company wants Canada’s energy regulator, the National Energy Board, to resolve permitting issues with the Vancouver suburb of Burnaby and set up a process for addressing future local permit delays. It said delays would affect costs, but did not provide an update on the project’s estimated price tag due to continued uncertainty. Reporting by Julie Gordon; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.
2315bf688daa64f06bffd4f2f3ffc75a	https://www.reuters.com/article/marketsNews/idCAL1N1O60WO?edition-redirect=ca	UPDATE 1-Newmont targets dividend boost by at least 50 pct in 2018	UPDATE 1-Newmont targets dividend boost by at least 50 pct in 2018 By Reuters Staff2 Min Read (Adds comments from Newmont Chief Financial Officer) Dec 6 (Reuters) - Newmont Mining Corp said on Wednesday that it plans to boost its dividend by at least 50 percent in 2018, based on balance sheet improvements and the performance of its gold mines. The Colorado-based miner, which had $3 billion in cash with $1.1 billion debt at the end of September, also issued an updated five-year outlook, with modestly higher gold production. “We’re in a position to continue to invest in our future and focus on returns to shareholders,” Chief Financial Officer Nancy Buese said via webcast from an investor update in New York. “We are moving away from a dividend structure directly linked to gold price and towards a strategy that reflects the durability of our production pipeline and the stability of our business.” Newmont, which had sweetened its gold-price linked dividend in the past, did not specify the structure, or formula for its new dividend. The company’s board, which Buese said is supportive of the change, will decide on the revised policy in February, based on Newmont’s fourth-quarter results. For the first three quarters of 2017, Newmont made dividend payments totaling 20 cents per common share and was expected by analysts to pay 30 cents a share for the full year. In 2016, it paid a total dividend of 25 cents, up from 12.5 cents in 2015 and 10 cents in 2014. Newmont said it now expects 2018 output of 4.9 million to 5.4 million ounces of gold, up from the 4.7 million to 5.2 million ounces it previously forecast. The all-in sustaining cost of producing an ounce of gold, an industry benchmark, is now projected at $965 to $1,025, compared with an earlier estimate of $950 to $1,050. (Reporting by Susan Taylor; Editing by Steve Orlofsky and Susan Thomas) Our Standards: The Thomson Reuters Trust Principles.
1eec7dc25f70a55e642f8e6d404bd6d0	https://www.reuters.com/article/marketsNews/idCAL1N1OD0W0?edition-redirect=ca	CIBC sees proportion of profits from U.S. doubling in 3 years	CIBC sees proportion of profits from U.S. doubling in 3 years By Reuters Staff1 Min Read TORONTO, Dec 13 (Reuters) - Canadian Imperial Bank of Commerce expects the proportion of its earnings coming from the United States to nearly double in the next three years, its chief financial officer said on Wednesday. CIBC anticipates its U.S. business will contribute 17 percent of the bank’s overall earnings by 2020 compared with 9 percent in 2017, CFO Kevin Glass told analysts during an investor update. (Reporting by Matt Scuffham Editing by Chizu Nomiyama) Our Standards: The Thomson Reuters Trust Principles.
87be5779c77190fc2445f7837dc8d774	https://www.reuters.com/article/marketsNews/idCAL1N1OG0HU?edition-redirect=ca	CSX CEO Harrison dies months into railroad's turnaround effort	CSX CEO Harrison dies months into railroad's turnaround effort By Christian Plumb3 Min Read NEW YORK (Reuters) - CSX Corp CSX.O Chief Executive Hunter Harrison has died, the freight railway operator said on Saturday, just a few days after announcing that the veteran rail executive hired earlier this year to boost its profits had taken a medical leave of absence. FILE PHOTO: Hunter Harrison, CEO of Canadian Pacific Railway Limited speaks to the economic community at a business luncheon in Toronto, March 2, 2015. REUTERS/Mark Blinch/File Photo Harrison, 73, died “due to unexpectedly severe complications from a recent illness,” the company said in a statement, adding that he would be succeeded for now by acting CEO Jim Foote. “We are immensely grateful for the opportunity to have worked with the railroad legend,” Foote said in a letter to employees of CSX, which has some 21,000 miles of track, mostly east of the Mississippi River, adding that it would “honor his legacy by staying focused” on his business plan. Harrison, hired as CEO in March at the urging of activist investor Paul Hilal, had been in the midst of an ambitious and sometimes controversial effort to overhaul CSX by laying off employees and streamlining operations. Seen using an oxygen tank when meeting with investors last month, he had been hired at CSX on a four-year contract with an estimated value of $300 million. “The board will continue to consider in a deliberative way how best to maximize CSX’s performance over the long term,” CSX Chairman Edward Kelly said in a statement that called Harrison a “larger-than-life figure.” News of Harrison’s leave, announced late on Thursday, sent the No. 3 U.S. railway’s shares tumbling as much as 10 percent in Friday trading on the Nasdaq. Despite that, the stock is up 47 percent so far this year. Harrison, who led turnarounds of two Canadian railroads, had previously taken a medical leave at Canadian Pacific in 2015 after surgery and a bout with pneumonia. While the turnaround plan went over well with shareholders, its execution triggered service disruptions and ran afoul of regulators and customers. The company, which on Friday brushed off questions about whether the board has been slow to disclose Harrison’s health problems, provided no further details about his cause of death. Foote, who also holds the titles of chief operating officer and chief sales and marketing officer, had worked with Harrison at Canadian National Railway CNR.TO, but has never headed a major railroad. He has said he would follow through with the wide-ranging overhaul now under way, but some investors on Friday expressed doubts about whether he could deliver on Harrison’s ambitious plan, which included closing numerous railyards where train cars are sorted and the potential sale of some short-line rail segments. Additional reporting by Eric Johnson,; Editing by G Crosse and Alistair BellOur Standards: The Thomson Reuters Trust Principles.
3e1001820ef80d7f73887a44aee75dcc	https://www.reuters.com/article/marketsNews/idCAL1N1OY0OT?edition-redirect=ca	BUZZ-Winter coat, propane stocks warm up during cold spell	BUZZ-Winter coat, propane stocks warm up during cold spell By 2 Min Read Shares in winter coat and propane suppliers soar while temperatures stay below freezing in much of the United States and forecasters predict more bad weather The eastern U.S. has been in the grip of a freeze since Dec 26, and forecasters have warned of a storm that could slam some areas with blizzard conditions on Thurs U.S. shares of warm coat co Canada Goose last up 2.8 pct at $32.69 after registering a record high of $33.43. Trading volume 0.6 x 10-DMA Shares of propane home heating fuel co MLP Amerigas on track for 9th day of gains, last up 1.1 at $47.50, had risen roughly 5 pct gain in preceding 8 sessions “When you have deep cold spells like this they sell a lot of propane and I’d expect their margins are going to expand because demand is up. Any time you have demand and supply in play they’re pretty good at getting margins,” said Michael Gaugler who covers Amerigas at Janney Montgomery Scott Adding “Going into this heating season there was concern about what happens if this is another warm winter.” Shares in Suburban Propane last up 2.8 pct at $25.49. Had risen roughly 6.5 pct in preceding six sessions Burlington Stores shares down slightly at $122.19. Had risen 1.7 pct since Dec 22, the last trading day before the freeze began. Stock had risen 45 pct in 2017
5446e9241b9cc5e20a8632a8f40d0252	https://www.reuters.com/article/marketsNews/idCAL1N1P625R?edition-redirect=ca	TSX up as resource stock gains offset pot pullback	TSX up as resource stock gains offset pot pullback By Reuters Staff2 Min Read FILE PHOTO - A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, Ontario, Canada on June 23, 2014. REUTERS/Mark Blinch/File Photo TORONTO (Reuters) - Canada’s main stock index rose on Thursday as gains for energy companies and some miners offset a pullback in marijuana producers and a fall in Shaw Communications Inc after its quarterly earnings disappointed. - The Toronto Stock Exchange’s S&P/TSX composite index finished up 38.99 points, or 0.24 percent, at 16,286.94. - Half of its 10 main sectors were in positive territory and advancing issues and decliners were evenly balanced overall. - The energy group climbed 1.4 percent, even as crude oil prices retreated from big gains, with Cenovus Energy Inc up 4.4 percent at C$13.69. Tourmaline Oil Corp gained 5.7 percent to C$21.96 after providing a business update. - The most influential weights on the index included Shaw Communications, which ended down 2.8 percent to C$27.16 after reporting quarterly earnings that missed expectations. - Marijuana producers, a volatile but broadly rising sector, also weighed, with Canopy Growth Corp slumping 10.4 percent to C$37.56 and Aphria Inc down 9 percent at C$20.55. - The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent, with Nutrien Ltd gaining 2.3 percent to C$66.63. - Alamos Gold fell 6.9 percent to C$7.39 while Yamana Gold Inc rose 4.8 percent to C$4.19 after each miner provided a business update to investors. Reporting by Alastair Sharp; Editing by Susan Thomas and Diane CraftOur Standards: The Thomson Reuters Trust Principles.
12a0145bc44f6a9ff2f9771b403ff514	https://www.reuters.com/article/marketsNews/idCAL1N1RB0W9?edition-redirect=ca	TD boss says business clients nervous over NAFTA talks	TD boss says business clients nervous over NAFTA talks By Matt Scuffham2 Min Read FILE PHOTO: A Toronto-Dominion Bank (TD) sign is seen outside of a branch in Ottawa, Ontario, Canada on May 26, 2016. REUTERS/Chris Wattie/File Photo TORONTO (Reuters) - Toronto Dominion Bank TD.TO Chief Executive Bharat Masrani said on Thursday the bank's commercial clients were nervous about the outcome of talks to update the North American Free Trade Agreement (NAFTA). Officials from the United States, Canada and Mexico are continuing negotiations over a modernization of the $1.2 trillion trade agreement which was implemented 25 years ago, but wide differences remain on topics such as dispute resolution and how much North American content should be contained in autos produced in the three NAFTA nations. Masrani said clients at TD, Canada’s second-biggest lender which also has substantial operations in the United States, held concerns over the drawn-out nature of the talks, which have been ongoing for seven months already. “There certainly is nervousness,” he told reporters after the bank’s annual meeting. “Folks are worried, it’s critical that this gets sorted and that we move on.” In an earlier speech to shareholders, Masrani said that he recognized a need to modernize the trade agreement between Canada, the United States and Mexico, but not to eliminate it. “Each country has undergone significant changes since the trade agreement was implemented,” Masrani said. “My hope is that the merits of this partnership prevail - so we can look for ways to make NAFTA even better for each country.” Royal Bank of Canada RY.TO, Canada's biggest lender, said last month that concerns about the outcome of talks to renegotiate the North American Free Trade Agreement were impacting longer-term investment decisions by its commercial customers. U.S. Trade Representative Robert Lighthizer on Wednesday expressed optimism that talks to modify the $1.2 trillion trade agreement could be wrapped up quickly, but a top Canadian official was more downbeat, saying much work remained. Reporting by Matt Scuffham; editing by Chizu Nomiyama and Susan ThomasOur Standards: The Thomson Reuters Trust Principles.
b533c0a01697ce6719f412ce1d6f723e	https://www.reuters.com/article/marketsNews/idCAL1N1RV1V7?edition-redirect=ca	Barrick Gold adjusted 1st-qtr profit rises on higher gold prices	Barrick Gold adjusted 1st-qtr profit rises on higher gold prices By Reuters Staff1 Min Read April 23 (Reuters) - Barrick Gold Corp, the world’s largest gold miner by output, reported a 5 percent rise in first-quarter adjusted profit on Monday, primarily reflecting higher gold prices and lower depreciation. The Toronto-based miner said adjusted net earnings for the quarter ended March 31 were $170 million, or 15 cents a share, compared with $162 million, or 14 cents a share in the same three-month period a year ago. (Reporting by Nicole Mordant in Vancouver, editing by G Crosse) Our Standards: The Thomson Reuters Trust Principles.
68c7fc23d5583c8d3228cffd355aed74	https://www.reuters.com/article/marketsNews/idCAL1N1UJ0E7?edition-redirect=ca	Canada wholesale trade jumps 1.2 percent in May from April	Canada wholesale trade jumps 1.2 percent in May from April By Reuters Staff2 Min Read FILE PHOTO: A cargo ship passes under Lions Gate Bridge into the Port of Vancouver, which would see a seven-fold increase in the amount of oil tankers if Kinder Morgan's Trans Mountain Pipeline expansion is approved, in Vancouver, British Columbia, Canada November 18, 2016. REUTERS/Chris Helgren/File Photo OTTAWA (Reuters) - The value of Canadian wholesale trade rose 1.2 percent in May from April as increased purchases of farm products, building materials and miscellaneous goods offset a drop in motor vehicles and parts, Statistics Canada data showed on Monday. The increase more than erased April’s revised 0.1 percent decline in wholesale trade. Removing the effects of price changes, volumes were up 1.3 percent in May, Statscan said. The report boded well for the economy in the second quarter. Still, Canada is expected to see slower economic growth in the second half of the year. Wholesale trade rose in four out of seven sectors, accounting for about 50 percent of total sales, according to the report. In dollar terms, the miscellaneous subsector reported the largest increase in May, as sales rose 7.8 percent, led by a 25.6 percent gain in the agricultural supplies industry. Sales in the building materials and supplies subsector rose 5.0 percent while the farm product subsector rebounded from an April decline to post a 25.5 percent gain in May. Sales in the motor vehicle and supplies subsector fell 2.5 percent, the second consecutive monthly decrease and the fifth drop in six months, bringing the subsector to its lowest level since December 2016. Wholesale inventories rose for the second consecutive month, up 1.4 percent to a record C$84.0 billion in May. Five of seven subsectors posted increases, representing 90 percent of total wholesale inventories, Statscan said. Reporting by Andrea Hopkins and Dale Smith in Ottawa; Editing by Susan ThomasOur Standards: The Thomson Reuters Trust Principles.
fe6662df19c294f5408756d94eea33ef	https://www.reuters.com/article/marketsNews/idCAL1N1UM0YP?edition-redirect=ca	BUZZ-New Gold: shares lose luster on lowered guidance, CS downgrade	BUZZ-New Gold: shares lose luster on lowered guidance, CS downgrade By 2 Min Read Shares of Canada-based mining co New Gold Inc plunged ~21 pct, hitting a 9 1/2-year low early Thurs as Credit Suisse downgrades to “underperform” from “neutral” following its Q2 earnings miss NGD last down 16.9 pct at $1.52, worst percentage loser in the Philadelphia SE Gold/Silver index Lead analyst Anita Soni cites continued weakness at Rainy River, which was primary driver of lowered production guidance and increased cost projections NGD’s Q2 gold production from continuing ops came in at 109k oz, below the 132.9k oz estimated by CS, says Soni On Jul 25, NGD reported after-market Q2 adj break-even results, missing the penny/sh analysts expected, per Thomson Reuters data Gold prices edged lower on Thurs in response to easing trade tensions between the U.S. and the EU Of 13 analysts covering NGD, 1 rates stock “buy”, 8 recommend “hold” and 4 say “sell” or “strong sell” So far this year, U.S. exchange-traded NGD has lost more than half its value, compared with the XAU’s ~9 pct drop (Reporting by Stephen Culp)
df793cb884166c49bb33f1e1d5c0ed44	https://www.reuters.com/article/marketsNews/idCAL1N1UU1UG?edition-redirect=ca	UPDATE 1-Currency hit to N. American companies' Q1 results lowest in yrs -report	UPDATE 1-Currency hit to N. American companies' Q1 results lowest in yrs -report By Reuters Staff2 Min Read (Adds details from previous quarters) NEW YORK, Aug 3 (Reuters) - Currency market fluctuations in the first quarter of 2018 had the smallest negative impact on North American companies’ financial results since 2011, according to data from currency risk consulting firm FiREapps on Friday. For the first quarter of this year, the negative impact of currency movements on those companies, including from the United States, Canada and Mexico, that quantified an exchange rate effect was $37 million. That was the smallest for any quarter since a $20 million impact in the first quarter of 2011, when FiREapps began collecting the data. The first-quarter 2018 impact was also about $1 billion below what it was in the fourth quarter of 2017. The number of North American companies reporting negative currency impacts, including those that did not quantify the loss but reported an impact, also was the lowest in years, the report showed. While the dollar fell against a basket of currencies in the first quarter, it gained sharply in the second quarter and companies reporting results for the June quarter in recent weeks have begun to cite it as a negative influence. The dollar index is up about 3 percent for the year so far. The foreign currency earnings of U.S. multinational companies are worth less in dollars when the dollar is stronger. A firmer U.S. currency also makes American-made goods and services more expensive overseas. (Reporting by Caroline Valetkevitch; editing by Jonathan Oatis) Our Standards: The Thomson Reuters Trust Principles.
41dd4595d8cae4e9f077d821a099aafa	https://www.reuters.com/article/marketsNews/idCAL1N1V71HU?edition-redirect=ca	BUZZ- U.S. stocks weekly: Checking the compass	BUZZ- U.S. stocks weekly: Checking the compass By 2 Min Read S&P 500 gains 0.6 pct as investors navigate corporate results amid geopolitical headwinds This as the Nasdaq Composite tries to catch its breadth and a Nasdaq volatility remains less than cooperative The SPX and DJI no longer have a pothole to fill or gap to mind That said, the DJI is still at risk of dying on the vine Majority of sectors advance; consumer staples, utilities and industrials head north, while energy and materials lose their way Consumer Staples surge 3.2 pct. Walmart soars after posting biggest domestic sales growth in a decade . Constellation Brands is sole sector loser as Corona beer maker pumps $4 bln more into weed cultivator Canopy Growth Industrials up 1.4 pct. Nielsen best SPX stock up 19 pct as activist hedge fund Elliott Management takes stake, urges sale. Deere shares reverse course Fri on bullish view of U.S. farm economy Tech dips 0.2 pct. Grim forecasts from Applied Materials and Nvidia wham chip stocks . Trumps Cisco’s solid beat and raise report. Semiconductor index slides 2.3 pct Consumer Discretionary slips 0.2 pct. Group’s biggest loser Macy’s tumbles ~10 pct as margin worries overshadow profit beat. On flip side, Nordstrom jumps ~13 pct on strong same store sales, rosy outlook Materials sag 0.5 pct. Gold/Silver miners index still melting on the charts. Newmont Mining sinks 10 pct Energy slumps 3.6 pct. Strong dollar, emerging market concerns, trade row with China whack sector SPX sector YTD performance through Thurs: reut.rs/2vUskuo ** Meanwhile, BofA-ML says aging U.S. bull can still run even as billionaire Soros doubled down on bet against Wall Street
883b848052068944cada738a15d0de56	https://www.reuters.com/article/marketsNews/idCAL1N1Y90HM?edition-redirect=ca	Thomson Reuters to cut workforce by 3,200 or 12 percent by 2020	Thomson Reuters to cut workforce by 3,200 or 12 percent by 2020 By Reuters Staff1 Min Read TORONTO, Dec 4 (Reuters) - Thomson Reuters Corp said on Tuesday that it will cut its workforce by 12 percent by 2020, axing 3,200 jobs, as part of a plan to streamline the business and improve operating efficiencies. The news and information provider also set a target to grow annual sales by 3.5 percent to 4.5 percent by 2020, excluding the impact of any acquisitions. (Reporting by Matt Scuffham Editing by Nick Zieminski) Our Standards: The Thomson Reuters Trust Principles.
7dec245fd09742bc07a2cb4bdedf477b	https://www.reuters.com/article/marketsNews/idCAL1N1Y90IN?edition-redirect=ca	CORRECTED-UPDATE 5-Thomson Reuters to cut 3,200 jobs in next two years	CORRECTED-UPDATE 5-Thomson Reuters to cut 3,200 jobs in next two years By Matt Scuffham3 Min Read (Corrects executive’s first name to Neil not Nick) * Company to cut office locations by 30 percent * Company sets organic revenue growth target of 3.5-4.5 pct * 90 percent of cuts have been communicated to staff -exec * Shares hit record high TORONTO, Dec 4 (Reuters) - Thomson Reuters Corp said on Tuesday that it will cut its workforce by 12 percent in the next two years, axing 3,200 jobs, as part of a plan to streamline the business and reduce costs. The news and information provider, which completed the sale of a 55-percent stake in its Financial & Risk (F&R) unit to private equity firm Blackstone Group LP, announced the cuts during an investor day in Toronto, in which it outlined its future strategy and growth plans. The company, which is focusing on its legal and tax businesses following the Blackstone deal, declined to say where the job cuts were being made. However, Co-Chief Operating Officer Neil Masterson told investors that staff had already been informed about 90 percent of the planned cuts. Shares in Thomson Reuters rose 3.7 percent on Tuesday, hitting an all-time high. The company also aims to grow annual sales by 3.5 percent to 4.5 percent by 2020, excluding the impact of any acquisitions. Chief Executive Officer Jim Smith said it plans to cross-sell more products to existing customers and to attract new customers. The company will also cut the number of products it sells, he said. “We’re going to simplify the company in every way that we can, working on sales effectiveness and on ways to make it easier both for our customers to do business with us and for our frontline troops to navigate inside the organization,” he said. As part of the streamlining, the company said it planned to reduce the number of offices around the world by 30 percent to 133 locations by 2020. Following the Blackstone deal, about 43 percent of Thomson Reuters revenues come from its legal business, with 23 percent of sales coming from corporate clients and 15 percent of sales coming from its tax business. Reuters News accounts for only 6 percent of sales but Smith said it remained a key part of the business under Michael Friedenberg, who joined the company on Monday as president of its news and media operations. “We believe he can make Reuters News an even greater part of our growth story going forward,” Smith said. Thomson Reuters set a target to reduce its capital expenditure to between 7 percent and 8 percent of revenue in 2020 from 10 percent currently. The company has set aside $2 billion of the $17 billion proceeds from the Blackstone deal to make purchases to help grow its legal and tax businesses. Shares in Thomson Reuters have risen by 40 percent since May, benefiting from the company buying back $10 billion worth of shares.
14b9d36f07ab2a9dea88b339001f5a07	https://www.reuters.com/article/marketsNews/idCAL1N1YJ0G7?edition-redirect=ca	BUZZ-Shopify: Threatening to snap 4-day win streak on stock offering	BUZZ-Shopify: Threatening to snap 4-day win streak on stock offering By Reuters Staff1 Min Read U.S.-listed shares of Shopify down ~6 pct at $152.088 premarket as Canadian e-commerce firm gets set to price its follow-on Stock among biggest pct NYSE losers; could snap 4-session win streak if losses hold After the bell Thurs, Shopify launched 2.6 mln share offering Co says expects to use net proceeds to strengthen balance sheet, fund growth strategies Morgan Stanley and Credit Suisse acting as joint bookrunners and re-offering shares in range of $154-$156, a 3-4.4 pct discount to stock’s last sale Shopify has ~108 mln total shares outstanding as of Dec 11, per prospectus filing here SHOP.N shares have risen a third since co on Oct 25 posted surprise Q3 profit YTD, U.S.-listed shares up 59 pct, TSX-listed shares up 69 pct Our Standards: The Thomson Reuters Trust Principles.
e874f9c6f974e8689e393d30469331f8	https://www.reuters.com/article/marketsNews/idCAL1N1YP1I5?edition-redirect=ca	Lockheed Martin hits 2018 F-35 delivery target of 91 jets	Lockheed Martin hits 2018 F-35 delivery target of 91 jets By Reuters Staff1 Min Read WASHINGTON, Dec 20 (Reuters) - Lockheed Martin Corp said on Thursday it hit its 2018 target to deliver 91 F-35 fighter jets to the United States and its allies, as the defense contractor built 38 percent more jets this year. The F-35 is key for Lockheed, accounting for about a quarter of its total revenue. During the third quarter, F-35 production volume as well as payments for maintenance increased in the quarter. (Reporting by Mike Stone Editing by Alistair Bell) Our Standards: The Thomson Reuters Trust Principles.
4b8d17b6e716e5ae107572faa4aec526	https://www.reuters.com/article/marketsNews/idCAL1N1YP1JF?edition-redirect=ca	UPDATE 1-Lockheed Martin reaches 2018 F-35 delivery target of 91 jets	UPDATE 1-Lockheed Martin reaches 2018 F-35 delivery target of 91 jets By Mike Stone2 Min Read (Adds future production numbers, background) WASHINGTON, Dec 20 (Reuters) - Lockheed Martin Corp said on Thursday it has reached its 2018 target to deliver 91 F-35 fighter jets to the United States and its allies, as the defense contractor built 38 percent more jets this year. The F-35 accounts for about a quarter of Lockheed’s total revenue. During the third quarter, F-35 production volume and payments for maintenance increased in the quarter. The cost of the most common variation of the jet, the F-35A, is now $89.2 million after the most recent round of contract negotiations announced in September. Lockheed Martin said that in 2019 it aims to deliver more than 130 F-35s representing a 40 percent increase in production over 2018. The Bethesda, Maryland-based weapons maker is aiming for annual production to more than 160 jets in 2023. In November, Lockheed received $6 billion in funding towards a multiyear commitment on a batch of 255 jets from the United States and its allies. This year, more international customers have signed on to buy the jet. In October, Belgium said it chose the F-35 over the Eurofighter Typhoon to replace its ageing F-16s in a 4 billion euro ($4.55 billion) deal. Other U.S. allies have been eyeing a purchase of the stealthy jet. Potential new customers include Finland, Germany, Spain, Switzerland, the United Arab Emirates. Despite the consistent growth, the F-35 has been widely criticized for being too expensive, including by U.S. President Donald Trump and other U.S. officials, who have also pointed to numerous production delays and cost overruns. Earlier this year, all Lockheed Martin’s U.S. and international F-35 fighter jets were grounded for engine inspections following a crash of an F-35B on Sept. 28 near Beaufort, South Carolina. (Reporting by Mike Stone in Washington; Editing by Alistair Bell and Grant McCool) Our Standards: The Thomson Reuters Trust Principles.
bd5e20bbffd78ddb69cf3efd31c493c9	https://www.reuters.com/article/marketsNews/idCAL1N2080M3?edition-redirect=ca	BUZZ-Shopify: Eyes record high on analyst PT hikes, RBC upgrade to "outperform"	BUZZ-Shopify: Eyes record high on analyst PT hikes, RBC upgrade to "outperform" By Reuters Staff2 Min Read U.S.-listed shares of Shopify were up 3 pct premarket as a slew of analysts hike their price targets in wake of co’s Q4 report on Tues U.S.-listed shares were trading at $180.40 before the bell vs record high of $180 hit on Mon Canadian e-commerce software maker’s stock fell as much as 7 pct in yesterday’s session after its profit forecast missed consensus on higher spending. But stock reversed course and closed Tues up 1.4 pct Roughly half of 27 covering analysts raised their PTs to as high as $230, per Refinitiv Eikon data RBC goes from $180 to Street-high $230, saying it expects a return to net new merchant growth this year driven by international expansion opportunity Baird reiterates “outperform”, raises PT from $165 to $188; writes that SHOP’s “best-in-class e-commerce growth story remains intact” Baird analyst Colin Sebastian, who garners 5-stars from StarMine for his coverage, says co’s elevated spending is justified by large global market opportunity, and expects shares to rebound as visibility improves in 2019 Now, 19 analysts recommend buying SHOP, 7 are neutral and 1 rates “sell”; median PT $192.50, up from $170 a month ago (Refinitiv) ** U.S.-listed shares are up ~27 pct this year Our Standards: The Thomson Reuters Trust Principles.
4060cc06bbc389692207da16221dd500	https://www.reuters.com/article/marketsNews/idCAL1N2081X9?edition-redirect=ca	Manulife reports 9 percent increase in fourth quarter earnings	Manulife reports 9 percent increase in fourth quarter earnings By Reuters Staff1 Min Read TORONTO (Reuters) - Canada’s biggest insurer, Manulife Financial Corp, on Wednesday reported a 9 percent increase in fourth quarter earnings, just shy of market forecasts, helped by strong growth in Asia. Manulife reported earnings per share, excluding one-off items, of C$0.65, compared with C$0.59 a year ago. Analysts had on average expected earnings of C$0.66, according to IBES data from Refinitiv. Reporting by Matt Scuffham; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.
1f3bd57a43c85f6132fbb0ba6ee8dbf4	https://www.reuters.com/article/marketsNews/idCAL1N2081Y1?edition-redirect=ca	Canadian insurers Manulife, Sun Life post higher fourth-quarter earnings	Canadian insurers Manulife, Sun Life post higher fourth-quarter earnings By Matt Scuffham2 Min Read FILE PHOTO: The Sun Life Financial logo is seen at their corporate headquarters of One York Street in Toronto, Ontario, Canada, February 11, 2019. REUTERS/Chris Helgren TORONTO (Reuters) - Two of Canada’s biggest insurers, Manulife Financial Corp and Sun Life Financial, on Wednesday reported higher fourth-quarter earnings, helped by growth in Asian markets. Canadian insurance companies have been expanding rapidly in Asia, selling to the region’s growing middle class. The strategy is helping them drive growth and diversify from their domestic markets, where competition is intense. Canada’s biggest insurer, Manulife, reported earnings per share, excluding one-off items, of C$0.65, compared with C$0.59 a year ago, ahead of the average analyst forecast of C$0.66, according to IBES data from Refinitiv. Total earnings, excluding one-off items, grew by 8 percent to C$1.3 billion. Sun Life reported earnings per share, excluding one-off items, of C$1.19, compared with C$1.05 a year ago and ahead of the average analyst forecast of C$1.15, according to IBES data from Refinitiv. Total earnings, excluding one-off items, rose by 12 percent to C$718 million. Sun Life said net income, before one-off items, grew by 26 percent in Asia to C$140 million ($106 million). It cited sales growth in the Philippines, India and Hong Kong. “We saw very good sales growth right across the region,” Sun Life CEO Dean Connor said in an interview. “Given that the Philippines, Hong Kong and India are three of our larger markets, to have those grow rapidly really makes an impact.” Sun Life also benefited from a 27 percent increase in earnings at its U.S. business to C$121 million, benefiting from favorable tax reforms and interest rate hikes. Manulife said earnings from Asia increased by 23 percent to C$459 million during the quarter. It cited strong growth in Japan and Hong Kong. ($1 = 1.3252 Canadian dollars) Reporting by Matt Scuffham; Editing by Leslie Adler and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.
149754d56a93f41221b41a331b71ae56	https://www.reuters.com/article/marketsNews/idCAL1N209112?edition-redirect=ca	Canada Pension Plan CEO Machin warns of lower returns	Canada Pension Plan CEO Machin warns of lower returns By Matt Scuffham2 Min Read TORONTO (Reuters) - Canada Pension Plan Investment Board (CPPIB) Chief Executive Mark Machin said on Thursday he anticipates significantly lower returns on assets over the “next several years” as the global economy slows. Canada’s biggest public pension fund reported a net return of 1.1 percent in the third quarter of its fiscal year to Dec. 31, which Machin said represented a “resilient” performance in the face of declines in global equity markets. “We’re going to see much more modest returns going forward across the board,” he said in an interview. “We’re seeing a significant slowing of economies across the world.” Machin said he expected lower returns across all asset classes due to both economic challenges and competition for assets driving valuations higher. “I think it’s going to be much more challenging for the next few years,” he said. “Whether it’s a public or private asset it’s going to be a similar story. There’s a large amount of capital in the world competing for assets at the same time.” The CPPIB, which manages Canada’s national pension fund and invests on behalf of 20 million Canadians, has diversified to become one of the world’s biggest investors in infrastructure, real estate and private equity to reduce its reliance on volatile global stock markets and low-yielding government bonds. Machin said diversification left the fund well-placed to grow despite the challenging market backdrop. The CPPIB said its net assets totaled C$368.5 billion ($278 billion) on Dec. 31, 2018, compared with C$368.3 billion three months earlier. For the nine months to Dec. 31, the CPPIB posted a net return of 3.6 percent. Canadian pension plans, on average, lost 3.5 percent on their investments in the quarter to Dec. 31, according to a report by RBC Investor & Treasury Services last week, which blamed global political and economic uncertainty for the losses. Reporting by Matt Scuffham; Editing by Tom BrownOur Standards: The Thomson Reuters Trust Principles.
34cb6ac834cc630d5343cdd3d0c07a2f	https://www.reuters.com/article/marketsNews/idCAL1N2150D2?edition-redirect=ca	BUZZ-Tilray edges higher heading into results; Aurora Cannabis still smokin'	BUZZ-Tilray edges higher heading into results; Aurora Cannabis still smokin' By Reuters Staff2 Min Read Shares of Canadian medical marijuana co Tilray up 0.7 pct at $73 ahead of Q4 results due after the bell, barely trimming MTD loss Tilray set for 3rd report as a public co. Street consensus calls for sequential increase in revenue to $14.15 mln, while adj loss/sh narrows to 12 cents vs Q3 - Refinitiv IBES data Tilray got its first 2 “sell” ratings this month: Melius Research on Mar 4 initiated with “underweight” and $48 PT, citing “less clarity” on future growth outside of Canada, while Jefferies on Mar 8 started with “underperform” and $61 PT, saying stock’s valuation ‘too rich’ as parts of co’s business inferiorly positioned vs peers TLRY shares down ~10 pct in Mar, suffering just their 3rd monthly fall so far since their Jul debut Conversely, U.S.-listed shares of Aurora Cannabis jumped 5 pct early Mon and have now surged >25 pct in past 4 sessions since co picked billionaire investor Nelson Peltz as strategic adviser Other peers Cronos up 1 pct, Canopy Growth up 0.3 pct and Aphria up 0.4 pct in early Mon trade ** Since mid-Jul IPO, TLRY shares have soared ~230 pct; Over same time frame, CRON the leader up ~216 pct, followed by ACB and CGC both with gains of ~80 pct and APHA’s ~19 pct rise is the laggard Our Standards: The Thomson Reuters Trust Principles.