Five Canadian business stories to watch this week

Air Transat
Air Transat

Tea party

DavidsTea reports its first-quarter results Monday and holds its annual meeting on Thursday, when shareholders will weigh in on a proxy battle for board control of the company. Proxy advisory firm Glass, Lewis & Co. has recommended shareholders back the management board nominees in its fight with co-founder Herschel Segal, who says management is not focused on the right priorities and is seeking changes at the company.

After the storm

Tour operator Transat A.T. Inc. releases second-quarter results on Thursday. The Montreal-based carrier took a $5-million hit in the first quarter after several Caribbean destinations were devastated by hurricanes last September, and it expects further losses of up to $15 million in the second quarter due to changed travel patterns resulting from the storms.

How much do you owe?

Statistics Canada is expected to release its first-quarter figures for household debt on Thursday as part of the national balance sheet and financial flow accounts. The Bank of Canada has pointed to household debt as a key vulnerability for the financial system, but the central bank said last week that concerns have eased in recent months.

OBJ360 (Sponsored)

Latest in manufacturing

Statistics Canada releases Canada’s international transactions in securities for April and the monthly survey of manufacturing for April on Friday. The agency reported manufacturing sales rose 1.4 per cent to $57.1 billion in March, surpassing economists expectations of a 1.2 per cent gain.

Home sales scorecard

The Canadian Real Estate Association is expected to release Friday its sales figures for May and its updated quarterly forecast for home sales this year. The real estate market has cooled off compared with last year’s red hot pace amid tighter lending rules and higher mortgage rates.

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