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Cenovus Energy reports Q3 profit up from year ago

Published Wed, 26 Feb 2025 12:00:04 GMT

CALGARY — Cenovus Energy Inc. reported a third-quarter profit of $1.86 billion, up from $1.61 billion in the same quarter last year.The company says the profit amounted to 97 cents per diluted share, up from 81 cents per diluted share a year earlier.Revenue totalled $14.58 billion, down from $17.47 billion in the same quarter last year.Total upstream production for the quarter amounted to 797,000 barrels of oil equivalent per day, up from 777,900 a year earlier.Total downstream throughput totalled 664,300 barrels per day compared with 533,500 a year ago.Cenovus also announced the appointment of former Shell Canada president and country chair Michael Crothers and former Husky Energy executive James Girgulis to the company’s board of directors, effective immediately.This report by The Canadian Press was first published Nov. 2, 2023.Companies in this story: (TSX:CVE)The Canadian Press

Cover crops help the climate and environment but most farmers say no. Many fear losing money

Published Wed, 26 Feb 2025 12:00:04 GMT

DES MOINES, Iowa (AP) — Called cover crops, they top the list of tasks U.S. farmers are told will build healthy soil, help the environment and fight climate change.Yet after years of incentives and encouragement, Midwest farmers planted cover crops on only about 7% of their land in 2021. That percentage has increased over the years but remains small in part because even as farmers receive extra payments and can see numerous benefits from cover crops, they remain wary. Many worry the practice will hurt their bottom line — and a study last year indicates they could be right.Researchers who used satellite data to examine over 90,000 fields in six Corn Belt states found cover crops can reduce yields of cash crops — the bushels per acre. The smaller the yield, the less money farmers make.“I don’t want to abandon it, but as far as just going whole-hog with planting cover crops, that’s a tough thing for me to do,” said Illinois farmer Doug Downs, who plants cover crops only on a sliver of ...

Cutting back on spending and waste, one stitch at a time

Published Wed, 26 Feb 2025 12:00:04 GMT

TORONTO — Mending clothes was a regular part of growing up for Anna-Marie Janzen, who started to learn the craft at age three from her grandmother.“That was just kind of like, of course, that’s what you do, put it in the mending pile,” she said. “It’s just another part of taking care of your clothes.”  The rise of cheap clothing has made the practice far less common, but people like Janzen are working to revive interest to reduce waste, and potentially save money as well.She launched her Winnipeg-based repair business Reclaim Mending about seven years ago, retreating from the sometimes-nebulous world of office work to the tangible satisfaction of a repair well done.“You spent some time on something and now it’s fixed … that is immensely satisfying for me.”Her many years of practice have made her deft with repairs that are hard to see. She’s helped save everything from T-shirts to winter coats that people don’t want to say goodbye to, whether it’s for sentimental, e...

Parkland Corp. delivers strong quarter in wake of activist investor push

Published Wed, 26 Feb 2025 12:00:04 GMT

CALGARY — Less than 12 months after an activist investor critiqued its performance, fuel retailer Parkland Corp. has doubled its third quarter profit and announced it will exceed its previously announced earnings guidance for 2023.On a conference call with analysts Thursday, CEO Bob Espey hailed the Calgary-based company’s third-quarter financial results, which saw Parkland report net earnings of $230 million, up from $105 million in the same period of 2022.On an adjusted basis, Parkland earned $231 million, nearly five times its third-quarter 2022 adjusted earnings.Espey attributed the results to favourable market conditions and the company’s ongoing efforts to optimize its assets and operations. “Collectively (these results) demonstrate the quality of the business we created,” he said.“We’re doing exactly what we said we would do.”Parkland has made a number of changes to its business since last March, when U.S.-based activist investor Engi...

Foreign interference inquiry work underway, commissioner says

Published Wed, 26 Feb 2025 12:00:04 GMT

Justice Marie-Josée Hogue, the commissioner of the public inquiry into foreign interference, says her work is underway and will share more information about its process on Nov. 10.More to come

High court upholds extradition for B.C. men accused of smuggling pot in hollow logs

Published Wed, 26 Feb 2025 12:00:04 GMT

OTTAWA — Three British Columbia men who allegedly tried to smuggle marijuana into the United States in hollowed-out logs almost 20 years ago are facing extradition again, and Canada’s highest court will not intervene.The Supreme Court of Canada has refused to hear appeal applications from Todd Ferguson, Daniel Joinson and Shane Fraser.They are accused of shipping pot-packed logs from B.C.’s Okanagan and Shuswap regions to California in 2006 to supply a log home manufacturing business that California officials claim was actually a drug distribution hub. The men argued their charter rights were breached when certain wiretap evidence was allowed at trial, but the B.C. Court of Appeal rejected that defence in 2021 and ordered Ferguson, Joinson and Fraser extradited.Similar arguments in the same case were made to Canada’s highest court six years ago but it refused an application from U.S. officials who hoped to appeal a B.C. ruling that overturned the men’s 2015 e...

Lightspeed Commerce reports Q2 revenue up 25% from year ago

Published Wed, 26 Feb 2025 12:00:04 GMT

MONTREAL — Lightspeed Commerce Inc. reported a smaller loss in its second quarter compared with a year ago as its revenue rose 25 per cent.The company, which keeps its books in U.S. dollars, says it lost US$42.5 million or 28 cents per share for the quarter ended Sept. 30 compared with a loss of US$79.9 million or 53 cents per share a year earlier.Revenue totalled US$230.3 million, up from US$183.7 million in the same quarter last year.On an adjusted basis, Lightspeed says it earned four cents per share in its latest quarter compared with an adjusted loss of five cents per share in the same quarter last year.In its outlook for its third quarter, Lightspeed says it expects revenue between US$232 million and US$237 million and adjusted earnings before interest, taxes, depreciation and amortization of about US$2 million.Lightspeed also says it expects revenue for its 2024 financial year to come in between US$890 million and $905 million and adjusted EBITDA to be break even or better.Th...

Hyundai anti-theft software installations available this weekend at Sox Park

Published Wed, 26 Feb 2025 12:00:04 GMT

CHICAGO —Hyundai car owners can get free anti-theft software installed in their vehicle's this weekend.Chicago police, the Cook County Sheriff's Office and Hyundai will host three mobile clinics at White Sox Park beginning Friday.Service technicians will install the software upgrade, which should take about 30 minutes.Thefts of certain Kia and Hyundai models sky rocketed after social media videos showing how to steal them went viral. Chicago files lawsuit against Kia, Hyundai over rise in car thefts In August, Chicago filed a civil lawsuit against the car makers, accusing them of negligence that resulted in increased auto thefts across the city. Full details of the clinics below. And more information here Friday, Nov. 3, Saturday, Nov. 4 and Sunday, Nov. 6Hours: 8:00 am - 5:00 pmLocation: Guaranteed Rate Field (Chicago White Sox Park lot G) Address: 3423 S. Normal Ave. Chicago, IL 60616 

Condé Nast slashing more than 250 jobs 

Published Wed, 26 Feb 2025 12:00:04 GMT

(The Hill) -- Condé Nast, the media conglomerate that owns and operates Vogue, The New Yorker and Vanity Fair, along with a number of other properties, has plans to cut hundreds of jobs before the end of the year. The coming layoffs will affect some 270 employees, the New York Times reported, citing a note to employees from Roger Lynch, the company's chief executive. In his note, Lynch said the job reductions are necessary given recent digital advertising pressures, a decline in social media traffic across the industry and other factors. “While we can’t control platform algorithms or how A.I. may change search traffic,” Lynch wrote, according to the Times, “we believe our long-term success will be determined by growing the many areas that we can control, including subscriptions and e-commerce, where we directly own the relationship with our audience.” Fed holds off on rate hike for second straight meeting In a subsequent interview with the Times, Lynch said the company has been ...

Tennessee bride surprises groom with Waffle House reception

Published Wed, 26 Feb 2025 12:00:04 GMT

(NewsNation) — One Tennessee couple had the wedding reception of a lifetime at their local Waffle House.For Eli Holbrook, Waffle House means more than just an all-star breakfast. The Lebanon, Tennessee, native grew up going to the diner on South Cumberland Street.Newlyweds Mary Cate and Eli Holbrook hold their wedding reception at a Waffle House in Lebanon, Tennessee. (Photo credit: Jessica Hamblen with Life Through a Lens provided to NewsNation.)Eli joined the Marines after graduating high school and was stationed in Japan. For every homecoming, his family made a point to treat him to a warm Waffle House meal.As his bride Mary Cate Holbrook puts it, it’s Eli’s favorite place to be. She knew she wanted to incorporate the restaurant into their wedding plans somehow.Since the beginning of their relationship, she said Eli would periodically tease her by asking if they could have Waffle House cater their wedding one day. Matthew Perry cause of death report could take weeks “If you ask...