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Police identify remains found in 1980 as those of man who escaped from Ontario prison

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MARKHAM, Ont. – Police have identified human remains in a decades-old cold case as those of a man who they say escaped from prison a month before he was found dead in Markham, Ont.

Investigators with York Regional Police say the remains were found on July 16, 1980, but could not be identified at the time due to decomposition.

They say the remains were exhumed in 2007 to attempt facial reconstruction and get DNA, but there were no matches when the DNA profile was added to the national database the following year.

Police say they used genetic genealogy to find relatives of the deceased person in 2021, and two years later, they identified the remains as William Joseph Pennell, a 26-year-old Toronto man.

Since then, police say they have learned more about Pennell, including that he spent time in a number of correctional institutions for a variety of offences.

They say he was arrested and charged with armed robbery and attempted murder while out on parole in June 1979, and escaped from prison in June 1980 shortly after being convicted in the robbery.

His remains were found a month later and police say that while the cause of death was undetermined, they believe foul play was involved.

Police say Pennell had told his case officers there were at least two others involved in the robbery he was convicted in, but refused to name them, believing his life would be in danger.

They say no detailed records related to his escape from prison have been found so far.

Investigators say Pennell had told a friend that he planned to flee to South America in what is believed to be his last contact before his death.

Police say they are working to identify more of Pennell’s friends and associates to try to build a timeline between his escape and the time his body was found. They’re asking anyone with information to come forward.

This report by The Canadian Press was first published Nov. 1, 2024.

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Auto parts company Magna International reports US$484M Q3 profit, lowers guidance

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TORONTO – Magna International Inc. cut its guidance for its full year as it reported net income attributable to the company of US$484 million for its third quarter, up from US$394 million a year earlier.

The Ontario-based auto parts company, which keeps its books in U.S. dollars, says the profit amounted to US$1.68 per diluted share for the three months ended Sept. 30, compared with US$1.37 per diluted share a year earlier.

Sales for the quarter totalled US$10.28 billion, down from US$10.69 billion in the same quarter last year.

On an adjusted basis, Magna says it earned US$1.28 per diluted share, down from an adjusted profit of US$1.46 per diluted share a year earlier.

In its outlook, Magna says it now expects total sales for 2024 between US$42.2 billion and US$43.2 billion, compared with earlier expectations for between US$42.5 billion and US$44.1 billion.

The company, which reduced its expectations for light vehicle production around the world, also says it now expects adjusted net income attributable to Magna of US$1.45 billion to US$1.55 billion for 2024, down from earlier guidance for between US$1.5 billion and US$1.7 billion.

This report by The Canadian Press was first published Nov. 1, 2024.

Companies in this story: (TSX:MG)

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Enbridge reports $1.29B third-quarter profit, up from $532M a year ago

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CALGARY – Enbridge Inc. reported a third-quarter profit attributable to common shareholders of $1.29 billion, up from $532 million a year earlier.

The company says the profit amounted to 59 cents per share for the quarter ended Sept. 30, up from 26 cents per share in the same quarter last year.

The results in the most recent quarter included a non-cash, net unrealized derivative fair value gain of $112 million, compared with a net unrealized loss of $782 million a year ago when it also took a $124-million provision adjustment related to a litigation matter.

On an adjusted basis, Enbridge says it earned 55 cents per share in its latest quarter, down from an adjusted profit of 62 cents per share a year earlier.

The average analyst estimate had been for a profit of 56 cents per share, according to LSEG Data & Analytics.

Enbridge chief executive Greg Ebel says the company saw strong utilization of its assets which drove another solid quarter of financial results.

This report by The Canadian Press was first published Nov. 1, 2024.

Companies in this story: (TSX:ENB)

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Imperial Oil reports $1.24B third-quarter profit, down from $1.60B a year ago

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CALGARY – Imperial Oil Ltd. reported a third-quarter profit of $1.24 billion, down from $1.60 billion in the same quarter last year.

The company says the profit amounted to $2.33 per diluted share for the quarter ended Sept. 30, down from $2.76 per diluted share a year earlier.

The result came as Imperial’s total revenue and other income amounted to $13.26 billion for the quarter, down from $13.92 billion in the same quarter last year.

Imperial says upstream production in the quarter averaged 447,000 gross oil-equivalent barrels per day, the highest third-quarter production in over 30 years.

The result was up from 423,000 gross oil-equivalent barrels per day a year earlier.

Downstream throughput in the quarter averaged 389,000 barrels per day, with overall refinery capacity utilization of 90 per cent, compared with 416,000 barrels per day and 96 per cent utilization a year ago.

This report by The Canadian Press was first published Nov. 1, 2024.

Companies in this story: (TSX:IMO)

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