Why there's so much construction in southwest Edmonton
Spring in Edmonton also means construction season.The southwest side of the city is full of traffic, and parts of the road are completely torn up from projects. CBC's Tristan Mottershead went to pave the way to find out why there's so much work being done.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
2 hours ago
- CTV News
Port Saint John partners looking to diversity imports
You may soon see more then just shipping containers being unloaded at Port Saint John. DP World, who operates the six container cranes along the city's waterfront, confirmed to CTV in an email they are exploring the possibility of adding car imports to Saint John operations. The topic came up last week during Port Days 2025, an annual event held by the port to share its direction with key stakeholders. Port President and C.E.O. Craig Bell Estabrooks says DP World and Canadian Pacific Kansas City (CPKC) Railway want to diversity their operations. 'We built this infrastructure years ago to be multipurpose,' Bell Estabrooks says. 'So yes, containers are our focus. They're going to continue to be the main focus, but if we could move some other commodities with DP world and other partners like autos, that's a real opportunity.' Bell Estabrooks says DP World would likely start small when it comes to moving automobiles to see how manageable it is and what the business model would look like before making a full commitment. CTV has reached out to DP World for more information about the prospect of bringing car imports to the city and are awaiting their response. Estabrooks said it's not just car imports that could be added to the port's growing capabilities. 'The other big one is around breakbulk,' says Bell Estabrooks. 'Importing Brazilian eucalyptus and from a wood pulp standpoint, that can be blended with existing forest products in New Brunswick and potentially even further than just New Brunswick.' Despite a busy start to the year, including the addition of two container cranes and breaking ground for a new cold storage unit to be run by Americold, Bell Estabrooks says there is still a lot on the port's agenda. Continued rail upgrades top the list. Bell Estabrooks says he would like to double, if not triple the tracks out of the port to Bayshore where there is a switching facility. He says Americold's addition to the waterfront has spurred conversation around food processing and refrigerated goods. 'I think food is one of the big opportunities for us,' he says. Estabrooks says there is not a lot of space available on port property but there is still plenty of opportunity for growth. He says DP World added more equipment to its arsenal to help load and unload ships faster and improve the flow of goods through the terminals. 'We're dreaming much bigger than we did a decade ago,' says Estabrooks. 'It's really because of what our partners are telling us. So we always look at the port as we provide really good infrastructure. We provide really good services and operational model with the employees that we have and then we just let the private sector do the development.' Estabrooks says the port hasn't processed hundreds of thousands of tons of breakbulk in the way they are proposing since the late 1990s and there is potential in the energy sector. He says meeting two or three of them in place would be a tremendous success. For more New Brunswick news, visit our dedicated provincial page.
CTV News
2 hours ago
- CTV News
Que. thief steals truck in Barrie, Ont., then arrested on 401 thanks to GPS tracking: Police
Police confirm they arrested the Quebec suspect involved in an alleged pickup truck theft in Barrie, Ont. back in April. According to the Barrie Police Service (BPS), a male suspect broke into a parked Toyota Tundra pickup truck that was parked in Barrie near Bryne Drive. Police say the incident happened between 10 p.m. on April 29 and 7 a.m. on April 30. The suspect allegedly manipulated the truck's on-board diagnostics (OBD) port once he was in the truck, allowing him to steal it and drive away. Once the owner noticed his truck was missing, police say he accessed its GPS system and provided the information to investigators. Through that information, police say the BPS and OPP were able to stop and arrest the suspect while he was travelling east on Highway 401 in Quinte West. Further combined investigation by the BPS and the South Simcoe Police Service (SSPS) Street Crime Auto Theft Unit claims the 34-year-old Quebec man is linked to three other stolen vehicle investigations. The accused was charged with nine criminal offences related to four vehicle thefts and is being held in custody, pending bail. A Barrie police media officer confirmed to CTV News that the truck was returned to its owner. According to the BPS, this and other ongoing auto theft investigations were made possible by a recent grant that they and the SSPS received from the Ontario government to combat auto theft.
Globe and Mail
5 hours ago
- Globe and Mail
Can Ford Stock Finally Break Free From the $10 Trap?
Those following Ford stock (F) would likely agree that shares have been languishing near the $10 price level for the last few years. Ford stock rose sharply from its 2020 lows and peaked at $25.87 in mid-January 2022. The stock fell below $20 the same month and hasn't been able to rise above that level since. For the last three years, Ford has been moving in a narrow price channel and tends to bottom near $10 while getting cold feet above $15. In this article, we'll explore what it would take for Ford to break out from the $10 price level that it has been hovering around for most of this year. What's Wrong with Ford Stock? Plenty is going wrong with Ford, both on a macroeconomic level as well as the company-specific level. The tariff uncertainty has taken a toll on Ford's earnings, and the Detroit giant had to withdraw its 2025 earnings guidance in the wake of President Donald Trump's auto tariffs. Apart from the tariffs on vehicles and car parts, Ford – or for that matter, the U.S. automotive industry – received a major jolt when Trump raised steel and aluminum tariffs to 50%. These tariffs will trigger an increase in U.S. steel prices, which will negatively impact automakers' bottom lines. While Ford hasn't commented on the impact of metal tariffs this time around, in 2018, it estimated that the metal tariffs Trump imposed during his first term would cost it $1 billion in profits between 2018 and 2019. Back then, the tariffs were 25% on steel and 10% on aluminum, so we can be reasonably sure that the impact this time around will be even higher unless the president cuts the tariffs. Apart from the tariff-related headwinds, not all is well with Ford on a company-specific level. The company's electric vehicle (EV) strategy has faltered, and while deliveries have sagged, losses continued to mount. Last year, the business lost $5.08 billion on a pre-tax basis, and the company guided for losses to be between $5 billion and $5.5 billion this year. General Motors Has Fared Better Than Ford Rival General Motors (GM) has done relatively better and sold more EVs than Ford last year. The company's EV portfolio was 'near breakeven' on a variable profit basis in Q1. Unlike Ford, which essentially expects its 2025 EV losses to be similar to the last year, during its Q4 2024 earnings call, GM said that it expects the savings in its EV business to be toward the low end of its previous guidance of $2 billion to $4 billion. In terms of capital allocation, investors have given a thumbs up to GM's strategy of aggressive share repurchases versus Ford's fat dividends. The 'legacy' issues related to warranties also keep haunting Ford every few quarters and take a toll on its profits. The price action in Ford and General Motors highlights the divergence in their fortunes. Over the last three years, GM stock is up more than 40%, while Ford is down over 20%. F Stock Forecast Wall Street analysts don't expect Ford to break out from $10 price levels, and its mean target price is $9.74, which is slightly below what the stock currently trades at. Of the 24 analysts covering Ford, only three rate it as a 'Strong Buy,' while 16 rate the stock as a 'Hold' or some equivalent. The remaining five rate F as a 'Sell' or lower, as sell-side analysts have turned incrementally bearish on the stock over the last couple of years. What Would It Take for Ford Stock to Rise Above $10? In terms of valuations, Ford trades slightly below its book value while the forward price-earnings (P/E) multiple is 8.96x, which happens to be higher than what the stock has traded at over the last five years. I wouldn't harp much on the P/E as Ford's 2025 earnings are expected to be subdued on account of tariffs. However, while Ford seems to have little downside from these levels, for the stock to rise sustainably, the management has to do a lot of things right, as the transformation under CEO Jim Farley hasn't helped much – or at least that's what the stock price tells us. For Ford stock to rise significantly above $10 levels, the company would not only need an enabling macro environment, but it would also need to execute well. On the macro side, apart from the tariff uncertainty, Ford is also battling an uncertain economy and pricing pressure in the EV segment. The current interest rates are also high as the Federal Reserve has gone slow on rate cuts amid the tariff uncertainty. To regain the faith of markets, Ford needs to address multiple issues, including those related to warranties and recalls, which I would argue are not 'legacy' issues. For instance, last year, it recalled thousands of F-150 and Maverick pickups. Last month, it again recalled more than 1 million vehicles over a software glitch. What was troubling is that these are recent models (2022-2024), so they can't be brushed aside as 'legacy' issues. The company's EV losses are too high for comfort and have been eating into the otherwise healthy profits of its internal combustion engine (ICE) business. Overall, the ball is in the court of Ford's management, and the company needs to lower its EV losses while maintaining or increasing the profits from the ICE segment. The stock is trading at depressed valuations for a reason, and markets would like to see real progress in its transformation for the stock to go higher.
