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Newspaper
Chronicle Journal
Location
Thunder Bay, Ontario, Canada
Date
Jul 03, 2024
Page
9
Canadian and U.S. stock indices firmed Tuesday as energy and base metals offset weakness in telecom. The S P TSX index ended up 78.01 points at 21 953.80 while Dow rose 162.33 to 39 331.85 and the S P 500 gained 33.92 to 5 509.01. The Nasdaq added 149.46 to 18 028.76.
WestJet canceled 75 Tuesday flights with eight more possible Wednesday and 1,051 scrapped since Thursday. About 680 mechanics walked off Friday, despite a binding arbitration directive, as operations slowly resume with 125 of 180 aircraft active and crews stranded at 18 airports.
U S new vehicle sales rose only 0.1 percent in Q2 as prices remain elevated and discounts vary by model. Analysts expect further price drops and potential rate cuts to boost affordability, with inventories improving for high priced pickups and SUVs.
Restaurant Brands International plans to acquire Popeyes China for 15 million and invest up to 50 million in Tims China via three year convertible notes, aiming to build a master franchisee model and accelerate growth in the Chinese market with local partners. The deal secures RBI board seats, increasing equity to about 18 percent, as executives express optimism about long term potential despite earlier caution.
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