Business News Advisory – CP

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Business News Advisory – CP

by ahnationtalk on November 5, 2015218 Views

Source: The Canadian Press
Nov 5, 2015

THURSDAY, NOV. 5, 2015

BUSINESS NEWS ADVISORY

Here are the CP Business Department’s early plans for today. All times Eastern unless otherwise stated. Entries are subject to change as news develops. If you have any questions, please don’t hesitate to email Business Editor Lee-Anne Goodman at lee-anne.goodman?thecanadianpress.com, Assistant Business Editor Tara Brautigam at tara.brautigam?thecanadianpress.com, or the department at business?thecanadianpress.com. We can also be reached at 416-507-2138.

COVERING

A short story and writethru have moved on the release of the text for the Trans-Pacific Partnership. The Ottawa bureau will take the story over.

Alexandra Posadzki will report on how the Hydro One IPO fares today as it makes its debut on the stock market. A short story with a sidebar looking at some of the biggest IPOs over the last 15 years has moved.

David Friend is reporting on Telus, which has announced it is laying off 1,500 people. Short stories have moved and he will update it after the conference call at 11 a.m. He is also monitoring BCE’s quarterly results.

Lauren Krugel will develop our story on Enbridge, which says delays in completing its Line 9 pipeline project through southern Ontario is having a negative effect on its bottom line. She will also monitor CNRL’s results. A short story has moved on that.

We will also have coverage of TransCanada announcing that it is nixing the idea of a second port in Quebec as part of its proposed Energy East Pipeline project.

Ross Marowits is monitoring the earnings and calls of several companies, including Air Canada, Molson Coors and SNC-Lavalin.

Craig Wong will have a Money Monitor today on how to score a cheap winter getaway despite the low loonie.

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NEWS NOW:

Trans-Pacific Partnership text released

TPP-Text-Released

UNDATED _ Prime Minister Justin Trudeau said he wanted to read the Trans-Pacific Partnership trade deal before passing judgment on it _ and now he’ll have his chance.The text of the agreement finalized Oct. 5 between a dozen Pacific Rim countries has been posted on the website of the New Zealand Foreign Ministry. PHOTO. Will be writethru.

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Hydro One debuts on Toronto stock market

Hydro-One-IPO

TORONTO _ Hydro One, the giant transmission utility whose sale has sparked political controversy in Ontario, makes its debut on the Toronto Stock Exchange today in one of the largest initial public offerings in Canada in 15 years.The Ontario government has said it plans to use the $1.66 billion generated by selling 13.6 per cent of its stake in the company to fund transit and infrastructure projects. Moves National and Business, please guard against duplication; will be updated after markets open at 9:30 a.m. ET. By Alexandra Posadzki.

_ With Hydro-One-Big-IPOs.

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Telus to cut workforce by 1,500 jobs

Telus-Jobs

VANCOUVER _ Telus Corp. (TSX:T) says it’s planning to reduce its workforce by 1,500 positions in an effort to cut annual costs by up to $125 million.The Vancouver-based company, which operates one of Canada’s biggest telecommunications networks, provided few details about the downsizing except that many of the cuts include voluntary departures and early retirements. PHOTO. Moves Business and National. Will be updated.

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Energy East export terminal in Quebec nixed

Energy-East

CALGARY _ An export terminal in Quebec will no longer be part of the equation for the cross-Canada Energy East Pipeline.The company behind the project, TransCanada Corp. (TSX:TRP), says it’s amending its application to the National Energy Board to take the Quebec port out of the project’s scope. Moves National and Business, please guard against duplication; will be writethru. By Lauren Krugel.

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Enbridge earnings crimped by Line 9 delay

Enbridge-Rslts

CALGARY _ Enbridge (TSX:ENB) says delays in completing its Line 9 pipeline project through southern Ontario is having a negative effect on its profit this year.The Calgary-based company says it now expects 2015 adjusted earnings to be at the low end of its previous estimates of between $2.05 and $2.35 per share of adjusted earnings. PHOTO.

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Air Canada’s adjusted profit beats estimates

Air-Canada-Rslts

MONTREAL _ Air Canada (TSX:AC) is reporting a third-quarter profit far above analyst estimates _ helped in part by lower fuel prices but also the result of cost-cutting initiatives and business improvements in recent years.Its adjusted profit was $734 million or $2.50 per share. That was up 60 per cent from $457 million last year, and 29 cents per share above analyst estimates.

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Canadian Natural updates plan for Horizon project

CNRL-Canadian-Natural

CALGARY _ Canadian Natural Resources Ltd. (TSX:CNQ) says it expects its 2016 cash flows will cover the cost of next year’s capital budget of between $4.5 billion and $5 billion. About half will be allocated to the Horizon oilsands expansion. Horizon’s 2016 budget will be about $2.1 billion, falling to between $1.0 and $1.3 billion in 2017 as the expansion is completed.

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Canadian dollar slips again, index futures up

Dollar-Markets

TORONTO _ The Canadian dollar was down slightly early Thursday morning.The loonie slipped 0.09 of a U.S. cent to 75,92, following the previous day’s decline of 0.61 of a U.S. cent. Will be updated.

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Low loonie no boon to small business: survey

CIBC-Low-Loonie

TORONTO _ Exporters may be happy about the low loonie, but the average small business, well, not so much, according to a new survey released by CIBC.In fact, the bank (TSX:CM) says far more small businesses report being hurt than helped by the lower currency. 170 words.

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Toyota quarterly profit rises to $5 billion on weak yen

AS-Japan-Earns-Toyota

TOKYO _ Toyota’s quarterly profit rose 13.5 per cent to 611.7 billion yen ($5.0 billion) and the automaker kept its annual earnings forecast unchanged despite trimming its expectations for vehicle sales.The company said its earnings for the July-September quarter benefited from cost cuts and a favourable exchange rate. The profit was up from 539 billion yen the previous year, but a little short of the 615 billion yen ($5.1 billion) average forecast in a FactSet survey of analysts. PHOTO.

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Pressed into action: Calgary business making records

MUSIC-Canada-Boy-Vinyl

CALGARY _ The pressing machine’s equivalent of an odometer shows it has made 4,422,640 records, but owner Dean Reid is betting the ageless equipment has got lots of life left. “It should be good for another 10,000,000,” he says proudly. PHOTO. Moves entertainment and business; GUARD against duplication. 600 words. By Bill Graveland.

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CALENDAR:

CHINA – B.C. Premier Christy Clark and International Trade Minister Teresa Wat lead a trade mission in China, making stops in Beijing, Guangzhou, Shenzhen and Hong Kong. Through Nov. 7.

CHINA – Ontario Premier Kathleen Wynne leads a trade mission in China, with stops in Nanjing, Shanghai, Beijing and Hong Kong. Through Nov. 14.

HAMILTON – Brookfield Property Partners, L.P. releases second-quarter results prior to markets open followed by a conference call at 11 a.m. ET. Dial 1-888-318-7470, passcode: 7584678 or go to www.brookfieldpropertypartners.com for the webcast.

DEDHAM, MA. – Atlantic Power Corp. releases third-quarter results. A conference call will be held on Nov. 6.

DENVER – Molson Coors discusses third-quarter results. Webcast at www.molsoncoors.com. (11 a.m.)

SAINT JOHN, N.B. – Canaport LNG Limited Partnership, Irving Canaport GP Company Ltd. and Repsol Canada Ltd. return to court facing charges after the deaths of 7,500 birds in a gas flare in September 2013. (1:30 p.m. at Provincial court)

CHARLOTTETOWN – Leading representatives from academia, government and industry gather for “The American Lobster in a Changing Ecosystem II: A U.S.-Canada Lobster Symposium.” Through Nov. 6. (The Rodd Charlottetown Hotel)

MONTREAL – Telecom and media giant BCE Inc. holds a third-quarter earnings conference call. Dial 1-866-225-6564 or go to http://www.bce.ca/investors/investorevents/all/show/BCE-Q3-2015-Resu http://www.bce.ca/investors/inv for the webcast. (8 a.m.)

MONTREAL – Media conglomerate Quebecor Inc. holds a third-quarter earnings conference call. Dial 1-877-293-8052, passcode: 90393(pound key) or go to http://www.quebecor.com/en/content/conference-call for the webcast. (10 a.m.)

MONTREAL – Consumer goods maker Dorel Industries Inc. holds a conference call to discuss third-quarter results. Dial 1-877-223-4471. (1 p.m.)

MONTREAL – Canadian dairy giant Saputo Inc. holds a second-quarter earnings conference call. Dial 1-800-705-6212 or go to http://www.gowebcasting.com/7029 for the webcast. (2:30 p.m.)

MONTREAL – SNC-Lavalin Group Inc. holds a third-quarter earnings
conference call. Dial 1-866-530-1553 or go to
http://investors.snclavalin.com/ for the webcast. (3 p.m.)

MONTREAL – Air Canada releases third-quarter results prior to markets open followed by a conference call at 9 a.m. Dial 1-866-225-9256 or go to http://bell.media-server.com/m/p/8nfs8ga9 for the webcast.

QUEBEC – Commercial property owner Cominar Real Estate Investment Trust holds a third-quarter earnings conference call. Dial 1-888-390-0605. (11 a.m.)

GATINEAU, Que. – The CRTC holds a public hearing to review the structure and mandate of the commissioner for Complaints for Telecommunications Services. (9 a.m. at Conference Centre, Phase IV, 140 Promenade du Portage, Outaouais Room)

AURORA, Ont. – Auto parts maker Magna International Inc. holds a third-quarter earnings conference call. Dial 1-800-616-7436 or go to www.magna.com for the webcast. (8 a.m.)

COURTICE, Ont. – Public hearings into Ontario Power Generation’s application to renew its operating licence and extend the life of the Darlington Nuclear Generating Station. Through Nov. 5. (8:30 a.m. at Hope Fellowship Church, 1685 Bloor Street)

MISSISSAUGA, Ont. – Morguard North American Residential REIT holds a conference call to discuss third-quarter results. Dial 1-888-231-8191, passcode: 55767084. (3 p.m.)

MISSISSAUGA, Ont. – Morguard REIT, which owns a diversified portfolio of high-quality retail, office and mixed-use properties in Canada, holds a third-quarter earnings conference call. Dial 1-888-231-8191, passcode: 55779692. (4 p.m.)

OAKVILLE, Ont. – Algonquin Power and Utilities Corp. releases third-quarter results after markets close. A conference call will be held on Nov. 6.

TORONTO – Financial services firm Canaccord Genuity Group Inc.
holds a second-quarter earnings conference call. Dial
1-888-231-8191, passcode: 57509793 or go to
http://www.canaccordgenuitygroup.com/EN/NewsEvents/Pages/Events.aspx
for the webcast. (8 a.m.)

TORONTO – Granite Real Estate Investment Trust holds a conference call to discuss third-quarter results. Dial 1-800-659-9004. (8:30 a.m.)

TORONTO – Hydro One shares are expected to go on sale on the Toronto Stock Exchange. (9:30 a.m.)

TORONTO – Insurer Sun Life Financial Inc. discusses third-quarter results. Dial 647-788-4901 or 1-877-201-0168. Go to www.sunlife.com/QuarterlyReports for the webcast. (10 a.m.)

TORONTO – Residential mortgage lender Home Capital Group Inc. holds a third-quarter earnings conference call. Dial 1-888-231-8191 or go to www.homecapital.com for the webcast. (10:30 a.m.)

TORONTO – Wealth management company CI Financial Corp. holds a third-quarter earnings conference call. Dial 1-866-696-5910, passcode: 1013923 or go to www.ci.com/q3 for the webcast. (4 p.m.)

TORONTO – TMX Group Ltd., which operates the Toronto Stock Exchange, releases third-quarter results after markets close. A conference call will be held on Nov. 6.

TORONTO – Canadian auto parts company Martinrea International Inc. releases third-quarter results after markets close. A conference call will be held on Nov. 6.

TORONTO – Oil producer Pacific Exploration and Production Corp. releases third-quarter results prior to markets open followed by a conference call at 8 a.m. Dial 1-888-231-8191, passcode: 55666995 or go to http://www.pacific.energy/en/webcast for the webcast.

CALGARY – Canadian gas distributor and oil pipeline company Enbridge Inc. holds a third-quarter earnings conference call. Dial 1-800-447-0521, passcode: 40968124(pound key) or go to http://edge.media-server.com/m/p/a4yaqkwp for the webcast. (7 a.m.)

CALGARY – Athabasca Oil Corp. holds a conference call to discuss third-quarter results. Dial 1-877-648-7976 or go to www.gowebcasting.com/6604 for the webcast. (7:30 a.m.)

CALGARY – Enerflex Ltd., a supplier of products and services to the global energy industry, holds a third-quarter earnings conference call. Dial 1-888-221-1785 or go to www.enerflex.com for the webcast. (8 a.m.)

CALGARY – Oilfield services company Pason Systems Inc. holds a conference call to discuss third-quarter results. Dial 1-888-231-8191. (9 a.m.)

CALGARY – Northern Property Real Estate Investment Trust holds a third-quarter earnings conference call. Dial 1-888-231-8191, passcode: 56056423. (12 p.m.)

CALGARY – Fertilizer, chemicals and farm inputs retailer Agrium Inc. releases third-quarter results prior to markets open followed by a conference call at 9:30 a.m. Go to www.agrium.com for the webcast.

CALGARY – Inter Pipeline Ltd. releases third-quarter results. A conference call will be held on Nov. 6.

CALGARY – Penn West Petroleum releases third-quarter results prior to markets open followed by a conference call at 9 a.m. Dial 1-888-231-8191.

CALGARY – Canadian Natural Resources Ltd. releases third-quarter results prior to markets open followed by a conference call at 9 a.m. Dial 1-877-223-4471 or go to www.cnrl.com for the webcast.

CALGARY – Crescent Point Energy Corp. releases third-quarter results prior to markets open followed by a conference call at 10 a.m. Dial 1-866-225-0198 or go to http://www.gowebcasting.com/7041 for the webcast.

x-EDMONTON – Alberta Premier Rachel Notley delivers state-of-the-province address. Media scrum to follow about 1 p.m. (11:45 a.m. at Chamber of Commerce, World Trade Centre, Suite 600, 9990 Jasper Ave.)

EDMONTON – AutoCanada Inc., Canada’s largest publicly traded auto dealership owner and operator, releases third-quarter results after markets close. A conference call will be held on Nov. 6.

WINNIPEG – Insurer Great-West Lifeco Inc. holds a third-quarter earnings conference call. Dial 1-800-355-4959 or go to http://www.greatwestlifeco.com/008/home/eventsandpresentations/index http for the webcast. (1 p.m.)

VANCOUVER – Telecom company Telus Corp. holds a webcast at www.telus.com to discuss third-quarter results. (8 a.m.)

VANCOUVER – Media screening of Dog by Dog, a documentary that follows the money trail of those associated with puppy mills. (10 a.m. at VanCity Theatre, 1181 Seymour Street)

VANCOUVER – Canada Soccer announces the combined economic impact hosting the FIFA Women’s World Cup and FIFA U-20 Women’s World Cup had across Canada and within the host communities. (10:30 a.m. at BC Place Suite, BC Place (enter through Gate H), 777 Pacific Blvd.)

VANCOUVER – National unions, First Nations, environmental, social justice and youth groups rally to demand action on climate change. (12 p.m. at Jack Poole Plaza, 1055 Canada Place)

VANCOUVER – Oil sands pioneer and MEG Energy founder Bill McCaffrey addresses the Vancouver Board of Trade. (12:30 p.m. at Terminal City Club, Metropolitan Room, 837 W Hastings Street)

VANCOUVER – The Canadian Union of Public Employees holds its national convention. Through Nov. 6. (Vancouver Convention Centre, 1055 Canada Place)

VICTORIA – Senior health officials administer the flu vaccine to Health Minister Terry Lake and other politicians. (9 a.m. at Reception Hall, B.C. Legislature)

VICTORIA – No Stone Left Alone service as approximately 100 Grade 6 students from Central Middle School, accompanied by soldiers from the Canadian Scottish Regiment, place poppies at the gravesites of more than 450 veterans. (10:45 a.m. at Ross Bay Cemetery, 1516 Fairfield Road)

VICTORIA – Auditor General Carol Bellringer holds a conference call to discuss the audit of the education of aboriginal students in the B.C. public school system. The report examines whether the Ministry met government pledges to close gaps in education outcomes between aboriginal and non-aboriginal students. The report is at www.bcauditor.com. Dial 604 681-0260 or 1-877-353-9184, passcode: 32090(pound key). (11:30 a.m.)

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THE CANADIAN PRESS

INDEX: ADVISORIES BUSINESS

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