Naii Horgan, Trudeau meet for first time
TORONTO 鈥?Strong earnings results from Shopify TSX:SHOP and Air Canada TSX:AC helped offset dragging energy shares on the Toronto Stock Exchange main index Tuesday.The SP/TSX composite index was up 58.23 points to 15,202.10, with information technology and industrials sectors among the leading advancers.Energy stocks, which retreated more than 0.7 per cent, were the biggest decliners. ARTICLE CONTINUES BELOW
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We ;re seeing a lot of activi
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ty, particularly in the tech sector, said Cavan Yie, a portfolio manager at Manulife Asset Management. But the biggest driver in that sector is Shopify quarter.Second-quarter results from the Ottawa-based e-commerce company topped expectations, and its stock closed up $15.72, or 13.68 per cent, to $130.61. ARTICLE CONTINUES BELOW Elsewhere on the corporate front, Air Canada shares jumped $1.91, or 9.63 per cent, to $21.74 after it reported record second-quarter earnings.The airline posted a $300 million profit for the period ending June 30, up from $186 million a year ago, as traffic increased and costs dropped. ARTICLE CONTIN
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UES BELOW They put up a very strong earnings number that was above expectations and they also provided a more positive outlook for their business, said Yie. ARTICLE CONTINUES BELOW Thvn New cafe, bakery to open in Arnprior
A $210-million class-action lawsuit has been launched against 71 Extendicare long-term-care homes in Ontario over the chains handling of the COVID-19 pandemic.The lawsuit alleges Extendicare failed to protect residents at the homes through inadequate preventative and responsive measures to the COVID-19 pandemic, leading to serious injuries and deaths. The defendants were aware that the residents were vulnerable individuals and especially vulnerable to serious or fatal complications arising from contracting COVID-19, the lawsuit alleges. ARTICLE CONTINUES BELOW Furthermore, the defendants were aware that the residents were dependent on the defendants for proper care, treatment and protection, especially from contracting COVID-19, during the pandemic period when they
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were not able to have direct contact with outsiders. None of the allegations in the statement o
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f claim have been proven in court and a judge must still certify the class action before the lawsuit can proceed. ARTICLE CONTINUES BEL
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OW In a statement, Extendicare said: Our focus at this time is solely on providing quality care to our residents, and supporting our families and team members. Our hearts are with our community and those who have lost loved ones to this virus during this immensely challenging time, Extendicare stated. Well respond to the allegations through the appropriate legal channels in due course.