Canadian businesses: to watch this week
Five things to watch in the Canadian business world over the coming week:
Canadian Pacific executives are expected to address the BMO Capital Markets 2021 Growth and ESG conference on Tuesday. The railway is currently suing the province of Saskatchewan for $ 341 million over a clause written in such an old contract, John A. Macdonald was Premier and Saskatchewan was not yet a province.
Interest rate decision:
The Bank of Canada will announce its decision on its target for the overnight rate on Wednesday. The central bank’s decision in October to end its pandemic-induced government bond purchases to stimulate the economy and earlier-than-expected rate hike warnings have tarnished federal efforts to develop an annual plan debt management.
Empire Co. results:
Sobeys parent company Empire Co. is expected to release second quarter results on Thursday. The recent profits of rivals Loblaw Companies Ltd. and Metro Inc. provided an overview of the inflationary pressures and workforce issues plaguing the grocery industry. The situation is expected to lead to rising food prices and brief shortages of some specialty products on store shelves, suggesting the pandemic could have a lasting effect on grocers.
Lululemon Athletica Inc. will release its third quarter financial results on Thursday. The Vancouver-based sportswear retailer filed a lawsuit against exercise equipment company Peloton Interactive Inc. last week, accusing the manufacturer of stationary bikes and treadmills of infringing several design patents and selling “counterfeit” bras and pants.
Transat AT is scheduled to hold a conference call Thursday to discuss its fourth quarter results. The airline, along with other incumbents, is expected to experience increased competition from ultra-low-cost carriers such as Flair, Lynx and Swoop after long-standing barriers to entry were swept away by the pandemic of COVID-19.
This report by The Canadian Press was first published on December 5, 2021.