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Suncor Energy reports third quarter profit of $1.54 billion

Published Fri, 22 Nov 2024 05:15:23 GMT

CALGARY — Suncor Energy Inc. says it earned a profit of $1.54 billion in the third quarter of 2023, compared to a net loss of $609 million in the prior year’s quarter.The Calgary-based energy giant says its earnings work out to $1.19 per share, compared to a loss of 45 cents per common share in the same three months of 2022.On an adjusted basis, Suncor earned $1.98 billion or $1.52 per common share in the third quarter of 2023, compared to $2.57 billion or $1.88 per common share in the third quarter of 2022.The company attributed the decrease in adjusted earnings to lower crude prices year-over-year and a weaker business environment, as well as increased royalties and decreased sales volumes due to international asset divestments.Suncor’s total upstream production was 690,500 barrels of oil equivalent per day, down from 724,100 boe/d in the same period last year.Refinery throughput was 463,200 barrels per day and refinery utilization was 99 per cent in the third quarter ...

National Bank no longer offering new safety deposit boxes

Published Fri, 22 Nov 2024 05:15:23 GMT

MONTREAL — National Bank won’t offer any more new safety deposit boxes, which allow customers to keep valuable items or important documents at bank branches. It’s the first large Canadian bank to stop offering this service. The bank stopped offering the service as of Nov. 1. The decision comes after the financial institution noted a decline in the popularity of safety deposit boxes, said spokeswoman Stéphanie Rousseau in an interview conducted in French. “That said, clients who already had boxes before that date will be able to keep them,” she said. National Bank is the first large Canadian bank to stop offering safety deposit boxes. The five other largest Canadian banks, and Desjardins Group, confirmed that they still offer the service and don’t currently intend to follow suit, though some institutions noted that safety deposit boxes aren’t necessarily available at all of their branches. The revenue generated by safety deposit boxes is “not large” for a bank, said Reena Atana...

Bus carrying crew for Shania Twain concert crashes on icy highway in Saskatchewan

Published Fri, 22 Nov 2024 05:15:23 GMT

WOLSELEY, Sask. — Members of Shania Twain’s concert production crew were on a bus that crashed today on an icy highway in southeast Saskatchewan.The music star’s management company, Maverick, says in a statement that the bus and a truck from her “Queen of Me” tour were in the crash on the Trans-Canada Highway near Wolseley.It says the vehicles had been driving between Winnipeg, where Twain had a show Tuesday night, and Saskatoon.Twain was not on the bus.Dwayne Stone, the fire chief for the nearby town of Grenfell, says firefighters were called out to the scene, where the bus had rolled onto its side.Stone says they used an emergency hatch in the roof of the bus and took out windows in order to get to the 13 people stuck inside.Stone says the people were taken to a nearby hospital and none of their injuries were life-threatening.The Canadian Press

Linamar reports net income of $146.7 million in third quarter

Published Fri, 22 Nov 2024 05:15:23 GMT

GUELPH, Ont. — Linamar Corp. says it sales and income got a boost in the third quarter thanks in part to its diversification efforts away from contracts reliant on gasoline-powered vehicles.Sales were $2.43 billion in the third quarter, up from $2.1 billion in the same quarter last year, as the industrial segment of the manufacturer grew faster than its automotive division.Linamar says it earned $146.7 million, or $2.38 per share, in the quarter ending Sept. 30, up from $133.2 million, or $2.10 per share, last year.Adjusted earnings were $2.21 per share, up from $1.91 last year, while analyst had expected earnings of $2.07 per share according to financial markets data firm Refinitiv.The company says it continues to set itself up for the electric vehicle transition, including with its recent acquisition of the Mobex chassis and suspension business.It says 57 per cent of new business contracts for its mobility division are for EVs, while 74 per cent of new business wins in the segment...

Florida wraps up special session to support Israel as DeSantis campaigns for president

Published Fri, 22 Nov 2024 05:15:23 GMT

TALLAHASSEE, Fla. (AP) — The Florida Legislature wrapped up a special session Wednesday in a largely symbolic effort to support Israel in its war with Hamas while Republican Gov. Ron DeSantis runs for president.The Senate unanimously approved a resolution condemning Hamas for the Oct. 7 attacks on Israeli citizens and expressing support for Israel’s right to defend itself. Also approved with no opposition were bills to provide $45 million in grants to secure Jewish institutions and other places that could be a target of hate crimes.The Senate also voted to strengthen sanctions already in place against businesses that do business with Iranian companies, as well as measures to provide hurricane recovery money and expand a program to allow developmentally disabled students attend private school with taxpayer money.DeSantis has campaigned on his support for Israel. The Legislature passed the measures hours before he was to participate in a GOP presidential debate in Miami, in whic...

Disney reports sharp profit growth in the fourth quarter; shares rise

Published Fri, 22 Nov 2024 05:15:23 GMT

SAN FRANCISCO (AP) — Walt Disney Co. reported sharp profit growth for its fiscal fourth quarter, exceeding analyst expectations and sending its shares up more than 3% in after-hours trading. Disney said diluted net income attributable to the company jumped 63% to $264 million in the quarter that ended September 30, up from $162 million a year earlier. Diluted earnings per share, which excludes items largely related to the amortization of Disney’s acquisitions of 21st Century Fox and Hulu, more than doubled to 82 cents in the quarter from 30 cents a year earlier. That exceeded analyst expectations of 71 cents, according to FactSet.Disney shares rose more than 3% in after hours trading to $87.23.Revenue for the quarter rose 5.4% to $21.24 billion, up from $20.15 billion. The company credited cost-cutting and other efficiencies from restructuring as well as continued subscription growth in its streaming business and a 30% increase in operating income from its parks and similar “e...

Mount St. Helens records more than 400 earthquakes since mid-July, but no signs of imminent eruption

Published Fri, 22 Nov 2024 05:15:23 GMT

VANCOUVER, Wash. (AP) — More than 400 earthquakes have been detected beneath Washington’s Mount St. Helens in recent months, though there are no signs of an imminent eruption, according to the U.S. Geological Survey.Most of the quakes over a three-month span beginning in mid-July were less than magnitude 1.0 and too small to be felt at the surface, the agency reported last week. Small magnitude earthquakes detected with sensitive equipment signal a volcano is “recharging” as magma flows through chambers and cracks deep underground, Wes Thelen, a volcano seismologist with the agency’s Cascade Volcano Observatory told The Columbian newspaper.From late August to early September, scientists observed about 40 to 50 earthquakes a week, a number that has fallen to around 30 a week. Since 2008, the volcano has averaged about 11 earthquakes per month.While swarms of earthquakes occurred in the late 1980s and early 1990s, none directly led to volcanic eruptions.In 1980, 57 people ...

It's gotta be the shoes - and more: A Chicago historian on the impact of Michael Jordan, 1990s Bulls

Published Fri, 22 Nov 2024 05:15:23 GMT

CHICAGO - For someone who grew up in the city when the group was at its peak, it's a very interesting lesson to present to an audience that experienced it or is getting to learn about their impact.Sherman "Dilla" Thomas' biggest problem was finding a way to encapsulate the impact of the 1990s Chicago Bulls and Michael Jordan into 60 minutes on October 30 at the Harold Washington Library."It was amazingly difficult to try to pack it all in a one-hour program," said the Chicago historian, who runs Chicago Mahogany tours, who came to fame with his TikTok lessons and now gives guided tours of historical landmarks in the city.But Thomas was up to the task in front of the audience both in-person and online for the discussion on the Michael Jordan-led team's legacy in Chicago. It's multi-faceted, something that he communicated to the audience during his time at the lectern. One of the more interesting parts of the discussion was the impact that one part of the dynasty that exists through a...

Illinois Senate approves plan to allow new nuclear reactors

Published Fri, 22 Nov 2024 05:15:23 GMT

SPRINGFIELD, Ill. (AP) — The Illinois Senate approved lifting a 36-year-old moratorium on new nuclear power installments on Wednesday in a plan proponents say will ensure the state can meet its carbon-free power production promise by 2045.The Senate's 44-7 endorsement opens the door for cutting-edge nuclear technology in so-called small modular reactors, designed to sit on sites for which they produce power, such as large factories. Study shows Illinois has seen an increase in deaths from car crashes Environmentalists have criticized the plan, noting that small modular reactors are a decade or more from viability. Sponsoring Sen. Sue Rezin, a Republican from Morris, said that's the reason, coupled with a federal permitting process of as much as eight years, her legislation is timely.“If we want to take advantage of the amazing advancements in new nuclear technology that have occurred over the past couple of decades and not fall behind the rest of the states, we...

Chicago Bears waive 2 defensive backs ahead of game against Carolina Panthers

Published Fri, 22 Nov 2024 05:15:23 GMT

CHICAGO — The Chicago Bears waived a pair of defensive backs ahead of their week 10 Thursday night matchup against the Carolina Panthers, according to a press release from the team.Team officials said free safety Duron Harmon and cornerback Greg Stroman Jr. were the two defensive backs waived Wednesday.The Bears signed Harmon back on Oct. 3 to help provide depth to a secondary group that was riddled with injuries earlier in the season. In his time with Chicago, Harmon played in three games and made one start, registering 6 tackles and one tackle-for-loss. PREVIOUS COVERAGE: Bears sign veteran safety to aid injury-riddled secondary Stroman was released by the Bears earlier this year before being re-signed to the practice squad on Aug. 29, from which he was elevated to the active roster on Sept. 14, and appeared in seven games for Chicago. In those seven games, Stroman made one start and accounted for 19 tackles, three tackles-for-loss, and an interception of quarterback Sam Howell ...