Big currency gain helps Abitibi-Consolidated earn $182M in Q3
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MONTREAL (CP) - Abitibi Consolidated Inc. reported a third-quarter profit Thursday of $182 million, compared with a loss of $70 million a year ago, helped by higher prices for its products and a $194-million gain on its US dollar debt.
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Credit Agricole SA, France&#39;s biggest bank, reported a 71 percent increase in third-quarter profit after setting aside less money for risky loans and lowering costs.
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MONTREALâBombardier Inc. common stock jumped 10 per cent yesterday as the market reacted to news the transportation giant has been selected to share in a major railway project in China.
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First-quarter income at the Toronto-Dominion Bank fell from a year ago, when the bank recorded a special gain, but strong Canadian retail banking and wealth management produced robust results. Toronto-Dominion earned 921 million Canadian dollars ($793 million), down from 2.31 billion Canadian dollars a year earlier, when the bank posted a gain of 1.67 billion Canadian dollars from the sale of TD Waterhouse U.S.A. to Ameritrade. Revenue in the quarter, which ended Dec. 31, was 3.47 billion Canadian dollars, up from 3.40 billion Canadian dollars. Earnings at the wealth management segment, which includes the bankâs 40 percent stake in TD Ameritrade, jumped 35 percent, while profit at TD Canada Trust, the domestic personal and commercial banking unit, rose 14 percent.
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Canada's Abitibi-Consolidated Inc. and Bowater Inc. of South Carolina said they would combine in a stock deal that their chief executives said should create a more powerful global competitor despite a declining US newsprint market.
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3M Co , whose products range  from Scotch tape to optical films for liquid crystal displays,  on Friday posted a stronger-than-expected quarterly profit,  helped by strong demand in international markets.
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ST GEORGE Bank has continued to post big gains from its lending with the Sydney based company producing an 18 per cent lift in after tax profit to $717 million.
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Gold hit $440.00 an ounce, its highest  in 16-1/4 years, in Europe on Monday and was seen consolidating  before rising further on a shaky dollar.
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Third-quarter profit rose 11 percent to $640 million, helped by growth in fees from asset management and providing back-office services to institutional clients.
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Canadian Tire Corp., the country&#39;s biggest retailer of auto supplies and sporting goods, said third- quarter profit rose 17 percent as customers put more purchases on the company&#39;s credit card.
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Strong overseas sales helped offset weakness in the North American market.
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3M Co.  on Monday said third-quarter earnings rose 17 percent due in part to the weak dollar, but the diversified manufacturer's results came in below Wall Street's estimates for the first time in at least seven quarters.
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TORONTO - Revenue at Canadian Tire topped the $2 billion mark in the third quarter and profits rose 17 per cent, the retail giant reported Thursday.
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3M Co. (MMM.N: Quote, Profile, Research) on Monday said third-quarter earnings rose 17 percent due in part to the weak dollar, but the diversified manufacturer&#39;s results
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The drugmaker posted third-quarter net income of $1.53 billion as revenues increased by double digits, while lower costs offset more spending on research and development.
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Canadian Natural Resources Ltd., Canada&#39;s second-largest natural-gas producer, said third-quarter profit jumped 55 percent as prices soared and acquisitions boosted output.
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TORONTO -- A roaring jobs market in Canada and disappointing jobs data from the United States helped the Canadian dollar crack 80 cents US in trading yesterday for the first time in more than a decade.