Canadian business: What to watch for this week
Five things to watch for in the Canadian business world in the coming week:
Canadian Pacific executives are scheduled to address the BMO Capital Markets 2021 Growth & ESG Conference on Tuesday. The railway is currently suing the province of Saskatchewan for $341 million over a clause that was written in a contract so old, John A. Macdonald was prime minister and Saskatchewan wasn’t yet a province.
Interest rate decision:
Bank of Canada to announce its decision for its overnight rate target on Wednesday. The central bank’s move in October to end its pandemic-driven purchases of government bonds to stimulate the economy, and warnings of rate hikes sooner than previously expected, has coloured federal efforts to craft an annual plan to manage the debt.
Empire Co. results:
Sobeys parent company Empire Co. is set to release Q2 results on Thursday. Recent earnings from rivals Loblaw Companies Ltd. and Metro Inc. offered a glimpse at the inflationary pressures and labour challenges hitting the grocery industry. The situation is expected to lead to higher food prices and brief shortages of some specialty products on store shelves, suggesting the pandemic could have a lasting effect on grocers.
Lululemon Athletica Inc. will release its third quarter financial results on Thursday. The Vancouver-based athletic apparel retailer launched a lawsuit against exercise equipment company Peloton Interactive Inc. last week, accusing the stationary bicycle and treadmill maker of infringing on multiple design patents and selling “knock-off” bras and pants.
Transat AT is scheduled to hold a call to discuss its fourth-quarter results on Thursday. The airline, along with other incumbents, is expected to see increased competition from ultralow cost carriers such as Flair, Lynx and Swoop after long-standing barriers to entry were swept away by the COVID-19 pandemic.
This report by The Canadian Press was first published Dec. 5, 2021.