Five Canadian business stories to watch this week


Aecon earnings

Aecon Group Inc. releases second-quarter results after markets close on Thursday. The construction company, which was recently the target of a failed acquisition bid by a Chinese state-controlled company, won a $282-million contract last week for work on Enbridge Inc.’s Line 3 replacement project in Manitoba.

Housing update

Canada Mortgage and Housing Corp. releases its housing market assessment report on Thursday. Canada’s housing market, along with high consumer debt levels, have been singled out by the Bank of Canada as the top vulnerabilities for the financial system, but both have recently shown signs of easing.

Air Canada earnings

Air Canada discusses second-quarter results on Friday. Former Aveos employees have been authorized to proceed with a class action lawsuit against the airline, which sold most of its shares in Aveos in 2007 and gradually reduced its contracts with the maintenance company, forcing it to close permanently in 2012 due to lack of orders.

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Loblaw reports

Grocery and pharmacy giant Loblaw Companies Ltd. releases second-quarter results on Wednesday. A lawyer for Loblaw told a Toronto court last week there is no evidence to back the Canada Revenue Agency’s allegations that its Barbadian banking subsidiary was misused for tax avoidance in closing arguments in the case.

Oil on the tracks

CN Rail releases second-quarter results after markets close on Tuesday. The railway expects crude oil deliveries to increase in the second half of the year as capacity becomes available. Crude-by-rail exports to the United States jumped to a three-year high in March of just over 170,000 barrels per day, the highest since December 2014.

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