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Imperial Oil posts $1.17B first-quarter profit, best in over 30 years

Imperial Oil posts $1.17B first-quarter profit, best in over 30 years

CALGARY — High oil prices helped Imperial Oil Ltd. post its highest first-quarter profit in over 30 years Friday, though production at the company's Kearl oilsands mine was less than anticipated due to extreme cold weather and unplanned downtime.
Magna International reports US$364M Q1 profit, cuts outlook for full year

Magna International reports US$364M Q1 profit, cuts outlook for full year

TORONTO — Magna International Inc. cut its outlook for the year due to lower than expected global auto production and increased costs as it reported a first-quarter profit of US$364 million Friday. Magna, which keeps its books in U.S.
Hexo appoints third CEO in six months as cannabis company restructuring continues

Hexo appoints third CEO in six months as cannabis company restructuring continues

GATINEAU, Que. — Musical chairs is continuing at Hexo Corp. as the cannabis company has announced the appointment of its third chief executive in six months.
A key inflation gauge jumped 6.6% in March, most since 1982

A key inflation gauge jumped 6.6% in March, most since 1982

WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve surged 6.
Becker gets 2 1/2 years in prison for bankruptcy offenses

Becker gets 2 1/2 years in prison for bankruptcy offenses

LONDON (AP) — Tennis great Boris Becker was sentenced to 2 1/2 years in prison on Friday for illicitly transferring large amounts of money and hiding assets after he was declared bankrupt.
British billionaire Jim Ratcliffe rivals U.S. offers with late $5B bid for Chelsea

British billionaire Jim Ratcliffe rivals U.S. offers with late $5B bid for Chelsea

British billionaire Jim Ratcliffe launched a late bid on Friday to buy Chelsea for 4.25 billion pounds ($5.3 billion) as rival offers featuring American investors were already being assessed as the sale process nears a conclusion.
NFI Group cuts earnings forecast — again — as supply snarls hit production line

NFI Group cuts earnings forecast — again — as supply snarls hit production line

WINNIPEG — Bus manufacturer NFI Group Inc. is cutting its revenue forecast for the second time in seven months, citing a global shortage of microprocessors.
Federal deficit $69.8B for April-to-February period of fiscal 2021-22

Federal deficit $69.8B for April-to-February period of fiscal 2021-22

OTTAWA — The federal government posted a deficit of $69.8 billion for the April-to-February period of its 2021-22 fiscal year as revenue grew and expenses fell.
Economy gains momentum with 1.1% GDP growth in February, best month since March 2021

Economy gains momentum with 1.1% GDP growth in February, best month since March 2021

OTTAWA — The Canadian economy surged ahead in February as pandemic-related restrictions eased, fuelling expectations by economists that the Bank of Canada will opt for another oversized rate hike in June.
Inflation hits record high of 7.5% in countries using euro

Inflation hits record high of 7.5% in countries using euro

BRUSSELS (AP) — Inflation hit a new record for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of CO