The STM has shut down a large portion of the green line of Montreal’s metro system indefinitely after finding cracks in the tunnel.
It’s recommending people allow more time for travel on Tuesday.
A tweet from the STM around 5 p.m. Monday said it shut down the line between Lionel Groulx and Frontenac for an “indefinite period” but did not explain why. A previous post said service would resume at 2 a.m.
Shortly after, it clarified that a water leak had made it possible to detect cracks in the vaulted ceiling of the tunnel between the Berri-UQAM and Saint-Laurent stations following an assessment by its engineering team.
STM CEO Marie-Claude Leonard says unusual water infiltration was being monitored throughout the day.
Workers weren’t sure if it was caused by crumbling concrete or was part of a larger crack that would pose a safety threat, she said, calling the decision to close the stations a precautionary measure.
“The safety is our priority for our customers and our employees, and we need time to really know about the situation,” Leonard said in an interview.
Leonard said the leak was later determined to be the result of crumbling concrete—and the tunnel is not at risk of collapse.
As a precaution, police blocked Maisonneuve Boulevard between Lionel Groulx and Frontenac so cars and heavy trucks could not pass and cause the ceiling to crumble further.
The STM also asked for heavy vehicles to be diverted between Berri and Saint-Laurent streets.
People were forced to find alternative ways to get home during the evening rush hour. CTV observed many passengers approach the Saint-Laurent station, only to find a piece of paper tacked to the door indicating the closure.
STM teams will be working all night to analyze and test the quality of the concrete, said Leonard.
SHUTTLE SERVICE
Until the green line reopens, the orange line can be used to get around downtown, between Lionel-Groulx and Berri-UQAM stations.
The STM said bus service shuttles are operating between Berri-UQAM and Frontenac metro stations during the disruption.
“STM personnel will be positioned at strategic locations in the stations to direct customers to the orange line and the temporary surface service,” the STM said on its website.
The shuttle stops at each metro station, in both directions, and runs until 12:45 and 1:00 a.m., depending on the location.
CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.
It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.
The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.
Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.
TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.
The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 7, 2024.
BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.
The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.
On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.
“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.
“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”
Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.
BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.
The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.
BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.
It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.
The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”
Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.
This report by The Canadian Press was first published Nov. 7, 2024.
TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.
The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.
Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.
On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.
In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.
It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.
This report by The Canadian Press was first published Nov. 7, 2024.
