Five Canadian business stories to watch this week

Canadian Tire
Canadian Tire

September trade figures

Statistics Canada will release international merchandise trade and trade in services figures for September on Wednesday. Canada’s merchandise trade deficit narrowed to $2.4 billion in August as both exports and imports edged lower following double-digit percentage gains in June and July.

Canadian Tire results

Canadian Tire Corp Ltd. will release its Q3 results on Thursday. Like many retailers in Canada, the household goods chain is ramping up plans for a transformed Christmas shopping season in response to the COVID-19 pandemic, with strategies to draw buyers early, step up its e-commerce game and convince consumers to buy gifts for far-flung friends and family.

Telco earnings

BCE Inc. and Telus Inc. will both release third-quarter results on Thursday. Rival Rogers Communications kicked off its industry’s fall earnings season by reporting a healthy recovery from the early months of the COVID-19 pandemic, although the results remained lower than last year as its advertisers and consumers continued to grapple with the virus’ economic fallout.

OBJ360 (Sponsored)

Bombardier results

Bombardier Inc. discusses third-quarter results on Thursday. The Quebec-based company took another step closer to its goal of focusing solely on building business jets after Alstom shareholders voted on Oct. 29 to proceed with its US$8.4-billion purchase of Bombardier’s railway division and it closed the deal to sell its aerostructures business to Spirit AeroSystems Holding Inc.

October jobs numbers

StatsCan will release its Labour Force Survey for October on Friday. Job growth in Canada accelerated in September, as the economy added 378,000 jobs, bringing overall employment to within 720,000 of pre-pandemic levels and dropping the unemployment rate to nine per cent.

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