Business

Further negotiations won’t bring end to B.C. port workers strike, employer says

Published

1 year ago

July 3, 2023

An International Longshore and Warehouse Union worker pickets outside of the BC Maritime Employers Association Dispatch Centre after a 72-hour strike notice and no agreement made on the bargaining table in Vancouver, on Saturday, July 1, 2023. Photo by ETHAN CAIRNS /THE CANADIAN PRESS

Talks to end a strike at B.C.’s ports have stalled with both sides accusing the other of being unreasonable.

The BC Maritime Employers Association released a statement Monday afternoon saying it had gone as far as possible on core issues and it doesn’t think more bargaining is going to produce a collective agreement.

The International Longshore and Warehouse Union Canada, representing thousands of workers who load and unload cargo at terminals at more than 30 B.C. ports, says it’s the association that “sabotaged the progress.”

Thousands of union members walked off the job Saturday morning. Both sides negotiated over the weekend and were at the table earlier in the day on Monday.

The association said it has advanced “reasonable proposals and positions in good faith” but said the union refuses to budge.

“ILWU Canada went on strike over demands that were and continue to be outside any reasonable framework for settlement. Given the foregoing mentioned, the BCMEA is of the view that a continuation of bargaining at this time is not going to produce a collective agreement,” the statement read.

“ILWU Canada needs to decide if they are going to continue this strike with no hope of settlement, or significantly modify their position so a fair and balanced deal can be reached.”

A key stumbling block appears to be around maintenance work, with the association accusing the union of attempting to change definitions and “aggressively expand their scope.” Union president Rob Ashton said ILWU Canada is focused on stopping “the erosion of jurisdiction” and the extensive use of contractors.

“When we finally had a document that was largely agreed upon as the result of continuous movement by the union on this one position the association decided to change their position in an attempt to muddy the water and mischaracterize the work, we have spent months discussing,” Ashton said in a statement.

Ashton said it’s reasonable for workers, who he said helped achieve record profits during the pandemic, to have a fair and equitable share of them.

The strike led businesses organizations to issue warnings about wide-reaching implications across the country, with some pushing for the federal government to step in with back-to-work legislation.

The union, meanwhile, warned Ottawa not to interfere.

“We implore the BCMEA to get back to the table to achieve a fair and reasonable agreement that the parties negotiate together,” Ashton said in his statement.

“It is unrealistic to think that a collective agreement that is imposed will result in long term labour stability in the industry. The parties need to put their best effort forward for the entire country and not just their individual aims.”

Federal Labour Minister Seamus O’Regan has said the focus of negotiations “needs to be on the table.”

The association represents 49 private sector employers operating in B.C. ports, and its website says the industry contributes $2.7 billion to Canada’s GDP while handling roughly 16 per cent of the country’s total traded goods — amounting to $180 billion in 2020.

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Business

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

Published

10 hours ago

November 5, 2024

Anne Joseph

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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Business

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

Published

10 hours ago

November 5, 2024

Anne Joseph

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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Business

Thomson Reuters reports Q3 profit down from year ago as revenue rises

Published

10 hours ago

November 5, 2024

Anne Joseph

TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 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:TRI)

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