CN Rail lowers earnings expectations, cuts outlook amid trade volatility
The Montreal-based company says revenue fell about one per cent, to $4.27 billion compared with $4.33 billion a year earlier.
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National Post
an hour ago
- National Post
Sportsnet tennis debacle reveals the have and have nots in Rogers sports empire
As a popular Canadian athlete and Olympic medallist, appearing at the downtown dome to toss out a ceremonial first pitch prior to a recent Blue Jays home game, the cross-promotion made sense for tennis player Felix Auger-Aliassime. Article content A Rogers-sponsored athlete at the Rogers Centre for a Rogers-owned pro team to help pump up an event in which Rogers is the presenting sponsor. Article content Article content Article content All the more reason, then, for those in the Auger-Aliassime camp and Tennis Canada to be miffed at how the Rogers-owned network broadcasting this week's National Bank Open at York University dropped the ball. Article content Sportsnet's decision not to produce its coverage of opening week action of the NBO in both Toronto (men) and Montreal (women) has not sat well with many of the principals involved with Canada's marquee event for the sport. Article content Though reluctant to criticize their broadcast partner directly and publicly, behind the scene Tennis Canada and tournament officials are miffed at Sportsnet's cost-cutting moves during the early rounds, opting for the ATP world feed for the first week of play. Article content (On Saturday through next weekend's finals, Sportsnet's regular, top-notch tennis crews were back in action in both Montreal and Toronto, as were the network's own producers.) Article content Even that development has come with some trimmed corners, however. There will be production crews on site at both venues, as well as those calling the action. Studio coverage will be from Rogers headquarters, however, eliminating the possibility of big-name players dropping by the set for interviews. Article content Article content The most egregious shortfall took place on Wednesday, however, when Auger-Aliassime's match, a tense straight-set loss to Hungary's Fabian Marozsan, was not shown at all on Sportsnet. Tennis Canada officials had purposely scheduled the popular Canadian in prime time and on the stadium court to maximize the audience — a win-win exposure wise. Article content Article content Where the communication broke down between Sportsnet and ATP's in-house folks remains to be seen. Article content 'Obviously what happened, we didn't want that to happen,' Hale said, according to the Canadian Press. 'We're going to have those discussions (on Sportsnet producing the full event in future years.) We've already started it. So I think there will be a better solution going forward as we move along.'
Winnipeg Free Press
15 hours ago
- Winnipeg Free Press
Nuclear option
Opinion The quest for more power to meet rising demand from electric vehicles and data centres running artificial intelligence technology has led to an apparent 'renaissance' of nuclear energy. The White House recently posted an op-ed piece exalting U.S. President Donald Trump's executive orders for reinvigorating America's nuclear power generation using that just that term, while effusively lauding his agenda to increase the nation's output by 300 gigawatts by 2050. That's enough to power about 300 million homes or, more likely, thousands of data centres for AI, as well as millions of EVs. Climate change commitments may not be high on the U.S. president's mind, but it is on China's list, as it seeks to add as much as 400 GW more from atomic energy by 2050 while aiming to decarbonize its economy. It's arguably off a faster start with 119 GW of nuclear power generation in construction or development. India is next in activity with 32 GW potentially under development. The United States is much further behind at eight GW, even trailing nations like France and Poland. Actual activity and planned growth suggests trillions of dollars being invested in nuclear energy over the coming decades — and investors are intrigued. 'The ducks are coming in a row, finally,' says Scott Clayton, Toronto-based senior analyst for the Canadian Wealth Advisor with the TSI Network in Toronto. The last time nuclear energy was on an upswing with investors was in the 2000s as oil prices surged. Then, the Fukushima plant disaster in Japan in 2011 put the brakes on nuclear power. Companies like Cameco Corp. — based in Saskatoon and the world's largest uranium producer — saw growth put on ice. That is until recently. Today, Cameco's share price, fuelled largely by all the talk of plans for new reactors, is at all-time highs. Although Canada may be an oil and gas powerhouse, its potential as a supplier of the fuel for nuclear energy has arguably more upside. It has the third largest discovered reserves in the world. It is also the second-largest producer behind Kazakhstan and potentially much more production is coming, as exploration companies like NexGen Energy and Paladin Energy look to develop mines in the Athabasca Basin (home to the highest-grade deposits of uranium in the world). Yet before jumping into a surging industry, driven by the future promise of much more nuclear power (not to mention the unnerving revival of the nuclear arms race), let's splash a bit of cold water on the overheating rods of speculation. 'It still faces challenges,' Clayton says. Among them are regulatory concerns. Mining projects in Canada take a notoriously long time to be approved and uranium is particularly tricky, given its environmental impact. Power plants are equally complicated. The public might appreciate the cheap, abundant power, just don't generate it close to where they live. 'The other problem is that the costs (of construction) are just astronomical,' Clayton says. The newest nuclear power generating station in the U.S, for example — two reactors at Plant Vogtle in Georgia — cost US$35 billion and were behind schedule and over budget. 'We definitely think it's (nuclear energy) going to be needed,' says Andrew Bischof, senior equity analyst at Morningstar in Chicago. Yet many projects are far from construction, let alone completion, and a history exists of projects being cancelled, especially in the U.S. Bischof says many major utility companies are talking about amping up nuclear power, but those are far-away ambitions, part of five- and 10-year plans to build capacity, which could take several more years before that power is added to the grid. There does seem to be more buzz around small modular reactors, he adds. These are scaled-down power plants that take less time to build, but it's an emerging technology. To that end, Canada is a leader with a project underway in Darlington, Ont. 'Duke Energy has also mildly stated that it's exploring SMRs, but again, that is 2030 to 2035 for a time frame,' Bischof says about the U.S. power provider, which presently has six nuclear power plants in the U.S.. Notably, big tech — Microsoft, Meta and Alphabet (Google) — are considering or currently entering into contracts with power providers, providing cash up front to restart or build new nuclear capacity, often involving small reactors, to meet climate change goals and growing energy-hungry AI capabilities. The need is substantial. AI is forecast to eat up 20 per cent of new energy growth through 2030. EV expansion is expected to increase demand by 15 per cent. Whether all this growth translates into future profits remains to be seen. In the meantime, investors might consider risk-adjusted exposure. 'If you're looking to invest in more speculative areas, it's best to get exposure through stocks that already have a solid business,' Clayton says. He points to U.S.-based Constellation Energy Corp. as one viable choice. Nearly 70 per cent of its output is nuclear and it pays a small dividend (0.47 per cent yield). Another way to invest in this theme is exchange-traded funds (ETFs). Investors have close to a handful of choices. One of the longest running is VanEck Uranium and Nuclear ETF, launched in 2007. It has seen renewed popularity, after peaking in price around 2011. '(Its) recent asset growth mirrors a broader nuclear renaissance fueled by surging electricity demand, the global pursuit of dependable low carbon power and fresh policy support extending plant life and financing next generation reactors,' says Brandon Rakszawski, director of product management, VanEck in New York. Monday Mornings The latest local business news and a lookahead to the coming week. Its portfolio also holds the aforementioned stocks with Constellation and Cameco among the largest positions. While the stars might be aligning for nuclear, conditions quickly change — i.e. battery power for renewables — that could make a long-term investment in nuclear suddenly less ideal. Still, for investors with an appetite for risk and a long time horizon, the nuclear option could power long-term profitability. Joel Schlesinger is a Winnipeg-based freelance journalist joelschles@
The Market Online
a day ago
- The Market Online
PyroGenesis Expands into Europe with First Titanium Powder Order
Montreal-based PyroGenesis Canada Inc. has secured its first commercial contract for titanium metal powder from a European client Europe Metal 3D Printing Market Size & Outlook projected to grow to US$11.2 B by 2030 Titanium is notably classified as a critical mineral by the Canadian government First European Titanium Contract In a notable milestone for its additive manufacturing division, Montreal-based PyroGenesis Canada Inc. (TSX: PYR, OTCQX: PYRGF) has secured its first commercial contract for titanium metal powder from a European client in the advanced manufacturing space, the company announced on July 31. This content has been prepared as part of a partnership with PyroGenesis Inc., and is intended for informational purposes only. The contract marks the company's debut transaction with a European-based engineering and materials science firm focused on additive manufacturing technologies, specifically electron beam melting (EBM) and direct energy deposition (DED). At the heart of the deal is PyroGenesis's Ti-6Al-4V coarse-cut titanium powder, produced using its proprietary NexGen™ plasma atomization system—a process that has recently won praise from some of the most demanding stakeholders in the aerospace and defence sectors. 'This order confirms the readiness of our NexGen™ powder production for demanding, real-world applications,' said CEO P. Peter Pascali in a statement. 'It's a significant commercial validation.' Peter Pascali, CEO of PyroGenesis Canada Inc. Industry and Market Context Additive manufacturing has long promised to disrupt how we build everything from jet engine components to orthopedic implants. But at its core lies a challenge: creating high-purity, uniformly sized metal powders that meet tight tolerances and performance metrics. Additionally, PyroGenesis's entry into this market hasn't gone unnoticed. It's coarse powder product, particularly in the 53–150 µm size range, has already passed rigorous qualification by a major aerospace OEM—widely speculated to be Boeing, which granted the company 'approved supplier' status earlier this year. The current contract, though undisclosed in size, is strategically significant: it reflects a shift in PyroGenesis's European go-to-market strategy, moving from distributor-based sales to direct client engagement, enabling better margins, faster cycles, and deeper integration with OEMs. Metric Details Projected Market Size (2030) US $11.2 billion CAGR (2024–2030) 24.8% Key Industries Driving Growth – Automotive– Aerospace & Aviation– Machinery – Electronics Market Position Europe is a global hub for advanced manufacturing Europe Metal 3D Printing Market Size & Outlook, 2023-2030. (Source: Grandview Research). Titanium Classified as a Critical Mineral PyroGenesis' production of high-quality titanium metal powders is part of its broader three-vertical solution strategy designed to address key economic drivers in global heavy industry. Furthermore, this work falls under the Commodity Security & Optimization vertical. which focuses on advanced material production and technologies—like plasma processing—to recover valuable metals and minerals from industrial waste, enhancing the availability of critical resources. Evidently, titanium is notably classified as a critical mineral by the Canadian government, plays a central role in this initiative. Equally important, PyroGenesis' two other strategic verticals are Energy Transition and Emission Reduction and Waste Remediation. Strategic Pivot to Europe: A $10 Billion Opportunity The deal underscores PyroGenesis's growing focus on the European additive manufacturing market. The market is projected to exceed $11.2 billion by 2030, according to independent industry research. In addition, the company's exit from its distribution arrangement with Aubert & Duval—announced in 2024—freed PyroGenesis to pursue direct sales relationships across the continent. 'This customer is a key technology hub in Europe,' noted Massimo Dattilo, VP of Sales. 'We believe this initial engagement opens the door to more substantial long-term contracts.' Massimo Dattilo, VP of Sales, PyroGenesis Canada Landmark Titanium Orders Additionally, over the past 18 months, PyroGenesis has transformed its metal powder business from pilot-scale shipments to full commercial operations. Given that, in May 2025, it received a landmark 5-tonne titanium powder order from a U.S.-based customer, followed by a 6-tonne reorder—underscoring the sector's readiness to scale. Meanwhile, its NexGen™ production line continues to be a differentiator. Compared to legacy systems, NexGen™ delivers higher throughput, lower cost-per-kilogram, and greater particle size control—making it especially well-suited for aerospace and defence applications where certification is non-negotiable. Another key point, PyroGenesis will host a conference call at 12:00 PM Eastern Time on Thursday, August 7th, 2025. The company will discuss second quarter 2025 financial results ending June, 30, 2025. Join the discussion: Find out what the Bullboards are saying about PyroGenesis Canada Inc. and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
