Flair Airlines strike warning – Business News



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The union representing the 139 stewards of Flair Airlines issued a 72-hour strike warning, claiming salary issues.

The workers are negotiating their first contract with salaries, pensions and scheduling everything on the table. If negotiations are not resolved, the strike may start early next week.

"The flights are not grounded at the moment. There is no impact on passenger safety, "said Gary Yee, local representative 4060 of the Canadian Union of Civil Servants. "There will likely be a downturn and a reduction of service on board. Your ability to buy drinks and things like that will be limited. "

The union cites a two-tier wage structure for existing workers and new hires as a major obstacle.

"Flair is transparently enveloping itself in a strategy of division and achievement designed to create a barrier between workers in order to compete with other low-cost carriers. It's completely unfair to pay 30% less for a group of flight attendants for doing the same job as the other flight attendants, "said Yee.

In a statement, Flair says they were forced to reduce their initial salaries to those of their competitors.

"Historically, we paid our team of flight attendants 30 percent more salary than our competitors," said Flair spokesman Iris Dias. "We can not continue to pay this type of award and we ask that all new flight attendants start with the same salaries as our competitors."

Flair says that since the 72-hour strike warning was issued, "many" on-board assistants told the board that they would continue to work despite any labor action brought by the union.

"The support we received suggests that all flights will operate normally on Monday, but we recommend that passengers check the status of their flight on our site," said Dias.

The Flair offers service to various Canadian and international destinations from Kelowna International Airport. The union will be at a legal strike midnight on Dec. 10.

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December 7, 2018 / 1:02 | Story:
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Aurora Cannabis says it will provide medical marijuana to Mexico through a partnership with the pharmaceutical company Farmacias Magistrales.

Pharmacies recently received the green light to import cannabis, which Aurora claims to be the first and only import license granted by Mexican federal authorities to date.

Aurora chief executive Terry Booth says the exclusive partnership expands the cannabis grower's initial advantage in Latin America.

The Edmonton-based cooker says Farmacias has a reach of about 80,000 retail outlets and 500 pharmacies and hospitals across Mexico.

He adds that Farmacias also received licenses from the Federal Commission for Protection against Health Risks of Mexico to manufacture and distribute products with CBD and THC.

Aurora shares rose as much as 10 percent to $ 7.82 in intraday trading on the Toronto Stock Exchange.


December 7, 2018 / 09h01 | Story:
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Two Calgary oil companies are cutting off payments to shareholders and slashing output due to current oil price rebates in western Canada.

Both Cardinal Energy Ltd. and Granite Oil Corp. say they can not wait to see if production cuts imposed by the Alberta government as of Jan. 1 will work to drain an excess of oil and thus allow prices to recover.

Shares of Cardinal fell more than 6 percent at the beginning of the Toronto Stock Exchange trading session after announcing that it would temporarily reduce its monthly dividend from 3.5 cents to a penny a share in view of the "embarrassingly low prices" in the fourth quarter .

Granite shares fell as much as 4.7 percent after announcing they would suspend their monthly dividend of 2.3 cents per share.

Cardinal said he has decided to reduce its record production of 22,000 barrels of oil equivalent per day (around 3,300 boe / d) by 15% to avoid net losses due to low prices.

Likewise, Granite reported that it halted production of about 200 boe / d after recording a production of just under 2,000 boe / d in the third quarter.

"Our lack of provincial and federal government leadership and failure to build new export pipelines is costing not only Alberta, but all Canadians significant revenue and future investments in our country," Cardinal said in a statement to the press.

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December 7, 2018 / 6:51 am | Story:
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UPDATE 6:50

An explosion of 94,100 new jobs last month knocked the country's unemployment rate to 5.6 percent – the lowest level since Statistics Canada began measuring comparable data more than 40 years ago.

The global number marked the largest monthly increase in workforce research since March 2012, when there was a gain of 94,000 jobs, Statistics Canada said on Friday.

The increase in employment in November was driven by the addition of 89,900 full-time positions. For employees' work, the private sector added 78,600 jobs in November, while the public sector earned 8,300 jobs.

The increase last month pushed the unemployment rate down from the reading of 5.8 percent in October, which had been the previous low since comparable data became available in 1976. The old statistical approach – to 1976 – recorded a reading of the unemployment rate of 5.4 percent. in 1974.

But the report on Friday also contained disappointing details.

Average annual growth in hourly wages for permanent employees continued to decline in November to 1.46% – to deliver the weakest reading since July 2017.

Experts expect wage growth to rise thanks to the tighter labor market, but fell every month since the May peak of 3.9%. Now it is well below inflation.


UPDATE 5:50

The national unemployment rate was 5.6% in November. Statistics Canada also released quarterly seasonally adjusted mobile unemployment rates for major cities. He cautions, however, that numbers may fluctuate widely because they are based on small statistical samples. Here are the unemployment rates last month by city (numbers from the previous month in parentheses):

– Kelowna, B.C. 3.9 (5.0)

– St. John's, N.L. 8.1 percent (9.0)

– Halifax 6.2 (6.6)

– Moncton, N.B. 5.2 (5.8)

– São João, NB 5,7 (6,0)

– Saguenay, Que. 5.4 (5.7)

– Quebec 3.8 (3.9)

– Sherbrooke, Que. 5.4 (4.8)

– Trois-Rivieres, Que. 5.3 (4.9)

– Montreal 5.9 (5.9)

– Gatineau, Que. 4.6 (4.4)

– Ottawa 4.6 (4.7)

– Kingston, Ont. 5.5 (5.4)

Peterborough, Ont. 5.2 (6.2)

– Oshawa, Ont. 5.7 (5.8)

– Toronto 6.2 (6.3)

– Hamilton, Ont. 4.7 (5.0)

– St. Catharines-Niagara, Ont. 7.0 (7.3)

– Kitchener-Cambridge-Waterloo, Ont. 5.1 (5.2)

Brantford, Ont. 7.0 (6.2)

– Guelph, Ont. 3.0 (3.3)

– London, Ont. 4.8 (4.9)

– Windsor, Ont. 6.0 (6.9)

– Barrie, Ont. 5.0 (5.2)

– Sudbury, Ont. 6.3 (6.0)

– Thunder Bay, Ont. 5.1 (5.3)

– Winnipeg 5.9 (6.1)

– Regina 6.4 (6.8)

– Saskatoon 6.1 (6.9)

– Calgary 7.9 (8.2)

– Edmonton 6.2 (6.3)

Abbotsford, B.C. 4,6 (4,7)

– Vancouver 4.1 (4.3)

– Victoria 3.8 (3.9)


ORIGINAL 5:40

Canada adds 94,100 jobs in November, far more than economists had expected. The national unemployment rate fell to 5.6%, the lowest since Statistics Canada began collecting comparable data in 1976.

More coming


December 7, 2018 / 5:15 am | Story:
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Canadian cannabis producer Cronos Group said it will receive a $ 2.4 billion investment from the Altria Group, one of the largest tobacco companies in the world.

Marlboro cigarette maker would acquire a 45% stake in Cronos under the initial investment.

Altria may also invest up to $ 1.4 billion to increase its stake in Cronos to 55%, according to the agreement.

Cronos had already confirmed reports that he was in talks with Altria, which joins Molson Coors, Constellation Brands and other established companies making moves in the cannabis space.

Cronos President and CEO Mike Gorenstein says the agreement with Altria will give the Toronto-based company the resources to expand faster and increase its investments in research and development.


December 6, 2018 / 2:00 p.m. | Story:
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Lululemon Athletica Inc. reported that it earned $ 94.4 million in its third quarter, up from $ 72.3 million a year earlier.

The Vancouver-based clothing company says its diluted earnings per share was 71 cents a share, compared to 43 cents per share in the third quarter of 2017.

According to Thomson Reuters Eikon, Lululemon surpassed analysts' expectations, suggesting that the company would make a profit of $ 92.5 million.

Lululemon says its total net revenue increased 21 percent to $ 747.7 million and was driven primarily by the opening of 38 new stores in Asia, Europe, Canada and Australia.

The increase in net revenue was partially offset by a US $ 9.3 million reduction, caused by the exchange rate and the closure of 48 of the Ivivva brand stores.

Meanwhile, the company's e-commerce efforts earned $ 476.9 million, compared with $ 425.1 million a year earlier.


December 6, 2018 / 10:15 | Story:
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The Canadian National Railway is competing to acquire a stake in the largest container terminal in eastern Canada.

The Montreal-based company has confirmed the hiring of a partner to bid for Halterm, a 30-hectare site in the port of Halifax, but gave no further details.

Halifax is Canada's fourth busiest port of container traffic, behind Vancouver, Montreal and Prince Rupert in northwestern British Columbia.

CN Rail is the only rail operator in Halifax.

The Halterm Container Terminal was purchased by New York-based Macquarie Infrastructure Partners for $ 172.7 million in January 2007.

Industry analyst Walter Spracklin of RBC Capital Markets said buying a minority stake, while not large for CN, would be strategically positive for Canada's largest railroad.


December 6, 2018 / 10:07 | Story:
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The drop in oil prices hurt exports in October as the merchandise trade deficit in Canada rose to $ 1.2 billion in October from $ 891 million in September, Statistics Canada said on Thursday.

Economists had expected a deficit of $ 700 million, according to Thomson Reuters Eikon.

"The surprising October disappointment in the trade deficit adds to the weakness of the previous month, but the details reveal that the rush under the surface is a bit stronger," CIBC economist Katherine Judge wrote in a report.

In terms of volume, exports increased by 1.2%, as lower energy prices led to a 2.3% drop in total export prices. Actual imports were essentially unchanged.

Judge noted that the increase in export volumes was a positive indicator for shipments of manufactured goods and monthly GDP.

"After a disappointing end to the third quarter in terms of growth, as well as the opposing winds faced in other parts of the economy, including the energy sector, this report is a step in the right direction," the judge wrote. "However, the Bank of Canada will need more consistently positive data to raise rates at its January meeting."

The Bank of Canada kept its main interest rate target on hold this week amid declining oil prices and an unexpected decline in corporate investment.

Many market watchers interpreted the bank's comments as dovish and lowered the chances of a central bank interest rate hike in January.

Statistics Canada reported Thursday that total exports fell 1.2% in October to $ 49.3 billion, despite increases in seven of the 11 sections.

Exports of energy products fell 12.4 percent to $ 8.8 billion in October, largely due to the 15.4 percent drop in crude oil prices. Exports excluding energy products rose by 1.6%.

Meanwhile, exports of motor vehicles and parts rose 4.4% to $ 7.8 billion.

Total imports fell by 0.6% to $ 50.5 billion in October, while seven of the 11 sectors fell, led by motor vehicles and parts, and basic chemicals and industrial chemicals, plastics and rubber.

Imports of motor vehicles and parts fell 3.5 percent to $ 9.1 billion in October, while the group of basic chemical, chemical and industrial products fell 5 percent to $ 4.0 billion.


December 6, 2018 / 7:04 am | Story:
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US stock markets tumbled early in the trading session amid worries that the arrest of a senior executive of Chinese telecom equipment maker Huawei could impede progress in China-US. trade negotiations.

The S & P / TSX composite index fell 340.34 points at 14,842.30.

In New York, the Dow Jones industrial average fell 393.88 points to 24,633.19. The S & P 500 index fell 40.18 points to 2,659.88, while the Nasdaq index fell 100.07 points to 7,058.36.

The Canadian dollar was trading at 74.57 cents, up from an average of 74.89 cents on Wednesday.

The January crude oil contract fell $ 1.44 to $ 51.45 a barrel and the January natural gas contract fell 15.7 cents to $ 4.31 per mmBTU.

The February gold contract rose $ 5.10 to $ 1,247.70 an ounce and the March copper contract fell $ 0.90 to $ 2.73 a pound.


December 6, 2018 / 7:03 | Story:
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Eddie Lampert and his hedge fund at ESL Holdings are offering to buy the rest of Sears for up to $ 4.6 billion in cash and stock.

Sears President and ESL own just under half of Hoffman Estates, Illinois, according to FactSet. Sears filed for bankruptcy in October, hurt by years of declining sales and massive debt.

ESL Holdings said in a statement on Thursday that its non-binding offer for some 500 remaining Sears stores will keep about 50,000 employees working. The offer is subject to due diligence and the ESL's ability to obtain financing, among other things.


December 6, 2018 / 6:54 am | Story:
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Dollarama Inc. reported that it earned $ 133.5 million in its latest quarter, up from $ 130.1 million a year earlier.

The retailer said profit reached 41 cents a diluted share in the company's third quarter, up from 38 cents a share in the same quarter last year.

Analysts had expected on average a profit of 42 cents per share in the quarter, according to Thomson Reuters Eikon.

Sales in the quarter ended Oct. 28 totaled $ 864.3 million, up from $ 810.6 million, while comparable sales grew 3.1% compared to 4.6% growth in the same quarter of the previous year.

The growth in comparable store sales was due to a 4.0% increase in average transaction size, partially offset by a 0.9% decline in the number of transactions.

Dollarama says the comparable store sales growth rate in the most recent quarter reflected its decision to strategically limit price increases in recent quarters.


December 6, 2018 / 6:46 am | Story:
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It is the color of the underwater reefs hanging for your life. The sky at dusk. Some of the latest iPhones and the latest looks on the runways of Marc Jacobs and other fashion stylists. The Living Coral was chosen by the Pantone Color Institute as its 2019 color of the year.

Can a color be cheerful? Laurie Pressman, vice president of the company, considers this orange base saturated with a golden tone, not only warm and welcoming, but also versatile and reassuring to life. It energizes with a softer edge than, say, its cousins ​​in pastel and neon colors.

"With all that's going on today, we're looking for these humanizing qualities because we're looking at life online by dehumanizing many things," Pressman told The Associated Press ahead of the annual color rollout on Wednesday. "We are looking at the colors that bring nourishment and comfort and familiarity that make us feel good.It is not too heavy.We want to play.We want to be high."

But do we want to race toward this color of grandparents? Pressman also sees a retro vibe for Living Coral, just as a softer version of the 2018 Ultra Violet pick is the shadow of some gray heads when the toners give a purple tint.

"It's emotional food. It's a big hug," she said of Living Coral.

How important is color analysis when heavy, well, the rest of the world is in the eyes of the beholder. Pantone is a for-profit company that predicts color trends, looks at color psychology and advises companies on color for product packaging and brand identity. Their merchandise comes with price tags, but almost 20 years of choosing color of the year has been a useful and free, free and cost-effective marketing strategy.

Living Coral is on the rise, Pressman said, at a time when bleaching due to climate change continues to steal the real coral reefs from its rainbows. It is a color that seems to work for everyone, across the entire spectrum of clothing genres and in all segments, from art and home appliances to residential interiors and industrial design.

The color also points to a long and painful job in the last decade, through financial market crises and political crises, to environmental chaos and the rise of social media, where saturated color presides, Pressman said.

"We're seeing much more saturated colors," she said. "This is the influence of social media because people want things to stand out. This is definitely a color you see on social media."

Coral Vivo is vivifying, but "not so overwhelming and in your face," she said. "It's bright enough and engaging."

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