U.K. calls for coalition to support Ukraine
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
3 hours ago
- Globe and Mail
Canadian Natural Resources Reports Strong Q2 2025 Results
Canadian Natural Resources ( (CNQ)) has released its Q2 earnings. Here is a breakdown of the information Canadian Natural Resources presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Canadian Natural Resources Limited is a prominent player in the oil and gas sector, known for its extensive operations in oil sands mining, upgrading, and conventional oil and gas production, primarily based in Canada with some international exposure. In its second quarter of 2025, Canadian Natural Resources reported robust financial performance, driven by strategic acquisitions and efficient operations. The company highlighted its successful completion of a planned turnaround at the Athabasca Oil Sands Project ahead of schedule, alongside strong production and upgrader utilization rates. Key financial metrics for the quarter included net earnings of approximately $2.5 billion and adjusted net earnings of $1.5 billion. The company achieved a total production volume of 1,420,358 BOE/d, marking a 10% increase from the previous year. Strategic acquisitions, such as the Palliser Block and Montney assets, are expected to bolster future production and synergies. The company's management remains optimistic about the second half of 2025, anticipating continued strong operating results. Canadian Natural Resources plans to update its annual production guidance and capital forecast following the closure of the AOSP swap, reflecting its commitment to delivering shareholder value through strategic growth and operational excellence.
Globe and Mail
5 hours ago
- Globe and Mail
Metro's third-quarter results fall short of estimates as Buy Canadian trend begins to lose some steam
Consumers are still seeking local products, but executives at one of Canada's biggest grocers say the buy Canadian movement is starting to lose some steam. 'It's decelerating somewhat,' Metro Inc. MRU-T chief executive Eric La Flèche told analysts during a third-quarter earnings conference call on Wednesday. 'Consumers are still buying more Canadian, so we're seeing more growth on Canadian product than non-Canadian product, but it has decelerated slightly.' Earlier this year, trade disputes with the United States helped kick off the trend of shoppers favouring Canadian-made products, which pushed many grocers to increase their local offerings and promote domestic and local products with signs on their shelves. Meanwhile, tariffs from the U.S. and Canada's own counter-tariffs have continued to lead some food producers to request price increases from grocers including Metro. Mr. La Flèche said tariffs have pushed prices higher for about 3,000 products. 'The introduced tariffs and counter tariffs are also a contributing factor to food inflation as we continue to receive price increase requests from our vendor partners,' he said. Loblaw earnings jump on strong sales, demand for discount grocery brands After the counter-tariffs were imposed in March, some suppliers waited a bit but the price increases eventually rolled in, he said. 'Teams continue to negotiate to minimize the impact on consumers, and for now, the effect remains manageable.' The grocer has also been on the lookout for suppliers in other countries to minimize costs, Mr. La Flèche said. Metro Inc. reported a third-quarter profit of $323-million, up from $296.2-million in the same quarter last year. The grocery and drugstore retailer said its profit amounted to $1.48 per diluted share for the 16-week period ended July 5, up from $1.31 per diluted share a year ago. Sales for the quarter totalled $6.87-billion, up from $6.65-billion in the same quarter last year. Food same-store sales were up 1.9 per cent, while pharmacy same-store sales were up 5.5 per cent, with a 6.2 per-cent increase in prescription drugs and a 4-per-cent increase in front-store sales, primarily driven by over-the-counter products, cosmetics, and health and beauty. During the call, Mr. La Flèche noted shoppers are continuing to try and keep a lid on their grocery bills. 'The search for value has been ongoing for over a couple of years now or more, so it's the same trends,' he said. 'People are searching for value. Promotional levels are high. Private label sales are high, so we're seeing pretty much the same picture on the consumer side.' On an adjusted basis, Metro says it earned $1.52 per diluted share in its latest quarter, up from an adjusted profit of $1.35 per diluted share in the same quarter last year. RBC analyst Irene Nattel said in a note the results were 'solid and consistent' with expectations. Metro's stock price however dropped seven per cent Wednesday to close at $98.58 on the Toronto Stock Exchange. Ms. Nattel said the decline likely reflects high expectations among shareholders, though she noted Metro's track record 'of delivering visible, predictable, consistent results that underpins valuation, and Q3 results continue that trend.' She said Metro's results, along with recent earnings from Loblaw Cos. Ltd., reinforce her investment thesis on the grocers, as 'cash-strapped consumers moderate food away from home, and focus on value in everyday household purchases.' Ms. Nattel said Metro's outlook shows the company is focusing on realizing efficiencies from its significant investments in modernizing its supply chain in recent years. Metro has invested nearly $1-billion in modernizing its supply chains in Quebec and Ontario.
Vancouver Sun
5 hours ago
- Vancouver Sun
Elon Musk's private jet lands in Bella Bella on B.C.'s central coast over the weekend
The world's richest man flew into Bella Bella on Saturday before hopping in a helicopter believed to be bound for a private resort complex owned by media heir James Murdoch near Bella Coola. Elon Musk's private jet arrived in Vancouver on Friday, according to the account on social media platform Bluesky, after departing San Jose, California earlier in the day. On Saturday, Musk and one of his sons landed by plane at a small airport just north of Bella Bella, a small First Nations fishing community on B.C.'s central coast. They then boarded a helicopter likely en route to Nascall Bay where Murdoch — who is also a board member of Tesla — owns a large property that includes the Nascall Hot Springs. Nascall Bay is 50km northwest of Bella Coola. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. A photo of Musk disembarking a helicopter on Monday with his son in Bella Bella was provided to the CBC, which reported the event . While Musk's net worth of US$413 billion makes him the richest man in the world, Murdoch and his family check in on the list at No. 90 with a net worth of US$24 billion. According to Musk's private jet left Vancouver on Monday afternoon. While Musk is well-known to be South African, he also holds Canadian citizenship through his mother, Regina-born Maye Musk, and spent time in both Saskatchewan and Vancouver as a youth. Vancouver-born musician Grimes has three children with Musk. jjadams@ dcarrigg@
