Winnipeg Free Press - ONLINE EDITION

Business Watch

  • Print

Viterra profits decline

CALGARY — Grain handler Viterra Inc. (TSX:VT) says a big one-time income tax charge and costs associated with the early redemption of company bonds drove down net profits in the third quarter.

Calgary-based Viterra, which is being acquired by commodities trader Glencore International PLC in a $6.1-billion deal, said Thursday net earnings were $111 million or 30 cents per share for the three months ended July 31. That compared with earnings of $123 million or 34 cents per share in the year-earlier period.


Ford bullish on Europe

MILAN, Italy — Ford Motor Co. on Thursday unveiled 15 new or restyled vehicles for the European market it will launch over five years to revive slumping sales.

While other carmakers are holding back on new-car launches due to tanking European demand, Ford executives announced the Detroit carmaker will accelerate new-car launches in Europe, expanding its lineup of SUVs, restyling the hot-selling Fiesta, redesigning its commercial vehicles and bringing the iconic Mustang sports car across the Atlantic.


Laurentian to pay fine

TORONTO — Laurentian Bank (TSX:LB) has agreed to pay $150,000 in an agreement with an industry regulator after failing to properly supervise the trading of leveraged exchange-traded funds in retail client accounts.

Under the agreement with the Investment Industry Regulatory Organization of Canada, Laurentian Bank Securities Inc. agreed to a fine of $140,000 and $10,000 in costs.

Laurentian admitted it failed to take every measure to ensure that its supervisors fully understood the features and risks inherent in the leveraged ETFs in the accounts of two retail clients.


Yellow debt plan approved

MONTREAL — Yellow Media can continue its transformation into a digital company now that a majority of debt-holders and shareholders have approved a controversial plan to reduce its $1.8-billion debt, the directories publisher said Thursday.

The Montreal company said it will put the debt-restructuring plan in place by the end of this month, but added it’s still subject to a number of conditions, including final approval by the Quebec Superior Court.


Strikes hurt publisher

MONTREAL — Student strikes in Quebec contributed a weakening of Transcontinental results in the third quarter as the cancellation of classes resulted in lower textbook sales.

The Montreal-based media company and printer said Thursday it wouldn’t outline specifics of the financial impact, but said it expects to recover some of the lost sales in the current quarter following a resumption of classes.


Eatery chain underpaid

MIAMI — Darden Restaurants violated federal labour laws by underpaying thousands of servers across the United States at Olive Garden, the LongHorn Steakhouse, Red Lobster and other eateries, according to a lawsuit filed Thursday on behalf of the workers.

The lawsuit filed in Miami federal court seeks to collectively represent current and past employees who worked for Darden from August 2009 to the present. It seeks potentially tens of millions of dollars in back pay and other compensation, plus interest and attorney fees, said lead lawyer David Lichter.


— from the news services

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes


  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.


Make text: Larger | Smaller


Paul Maurice addresses media at end of 13/14 season

View more like this

Photo Store Gallery

  • Horses enjoy a beautiful September morning east of Neepawa, Manitoba  - Standup Photo– Sept 04, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • JJOE.BRYKSA@FREEPRESS.MB.CA Local-Postcard  Day-Horror frost and fog created a most beautiful setting at Assiniboine Park Thursday morning in WInnipeg- Enviroent Canada says the fog will lifet this morning and will see a high of -7C-  JOE BRYKSA/WINNIPEG FREE PRESS- Feb 18, 2010

View More Gallery Photos


Do you think Manitoba needs stronger regulations for temporary workers?

View Results

View Related Story

Ads by Google