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Via Rail extends cancellations, CN Rail mulls shut down as protests continue – Global News

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Via Rail has extended train cancellations on major routes in Ontario and Quebec as protests against a pipeline in northern B.C. stretched into a sixth-day on Wednesday.

Passenger and freight rail services have been hit particularly hard by the protests as demonstrators erect barricades on lines in different parts of the country.


READ MORE:
Canada’s industry groups worried as Wet’suwet’en protests block ‘vital artery’ of railways

Via Rail is cancelling service on its Montreal-Toronto and Ottawa-Toronto routes until at least the end of the day on Friday because of a blockade near Belleville, Ont.

After nearly a week of halting trains on the Ontario lines, OPP say they are still negotiating with the protesters.

“We are still looking to resolve this situation in a safe and peaceful manner,” OPP East region spokesperson Bill Dickson said.

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Via has also said a blockade near New Hazelton, B.C., means normal rail service is being interrupted between Prince Rupert and Prince George, a line that has been closed since Saturday.






3:40
Railway blockades starting to impact economy


Railway blockades starting to impact economy

In Manitoba, Premier Brian Pallister said the Justice Department will seek an injunction to end a rail blockade west of Winnipeg and have it enforced within a few days.

Meanwhile, two hereditary chiefs from the British Columbia First Nation that is getting support from protesters across the country have launched a constitutional challenge of fossil fuel projects.

The challenge calls on the Federal Court to declare that Canada is constitutionally obliged to meet international climate change targets, which the chiefs contend would cancel approvals for a natural gas pipeline that runs through traditional Wet’suwet’en territory in northern B.C.






1:51
Wetsuweten Protest


Wetsuweten Protest

Blockade organizers across Canada have said they’re acting in solidarity with those opposed to the Coastal GasLink pipeline project that crosses the traditional territory of the Wet’suwet’en First Nation near Houston.

The blockades were erected after the RCMP enforced a court injunction last week against Wet’suwet’en hereditary chiefs and their supporters, who had been blocking construction of the pipeline, a key part of a $40-billion LNG Canada liquefied natural gas export p

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Cineplex reports $24.7M Q3 loss on Competition Tribunal penalty

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November 6, 2024

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TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.

The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.

The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.

The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.

Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.

Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.

This report by The Canadian Press was first published Nov. 6, 2024.

Companies in this story: (TSX:CGX)

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Restaurant Brands reports US$357M Q3 net income, down from US$364M a year ago

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November 5, 2024

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TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.

The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.

Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.

Consolidated comparable sales were up 0.3 per cent.

On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.

The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:QSR)

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Electric and gas utility Fortis reports $420M Q3 profit, up from $394M a year ago

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November 5, 2024

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ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.

The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.

Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.

Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.

On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.

The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:FTS)

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