Five Canadian business stories to watch this week

air canada
air canada

Air Canada earnings

Air Canada executives will discuss second-quarter financial results on Tuesday. The airline’s $520 million offer for Transat AT, approved by Transat’s board last month, continues to face legal and regulatory scrutiny along with resistance from major Transat shareholders who feel the price is too low.

Latest GDP figures

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Statistics Canada to release gross domestic product by industry results for May on Wednesday. The agency reported that the Canadian economy grew 0.3 per cent in April, driven mainly by the oil and gas sector. Economists had expected growth of 0.1 per cent.

SNC-Lavalin’s latest

SNC-Lavalin executives will discuss second-quarter financial results on Thursday. The troubled company recently unveiled a $1.9-billion impairment charge, slashed its profit forecast and announced a shift toward a more stable business model based on engineering services rather than fixed-price construction contracts where cost overruns can eat into profits.

Enbridge results

Enbridge Inc. will announce second-quarter results before markets open followed by a conference call and webcast on Friday. The company recently said it’s willing to consider rerouting its Line 5 pipeline around the Bad River Reservation in northern Wisconsin after members of the band sued over fears the 66-year-old line will rupture and cause catastrophic damage.

RBI update

Restaurant Brands International Inc. will releases second-quarter results and hold an investor conference call on Friday. The company blamed cold weather and an outdated roll-up-the-rim-to-win promotion for slower sales at Canadian Tim Hortons locations in its most recent quarter, and pledged to revamp the longstanding contest.

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