Vancouver looks to subdivide laneway homes
The City of Vancouver is exploring the idea of allowing single-family lots to be subdivided so people can buy and sell laneway homes.
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Globe and Mail
2 hours ago
- Globe and Mail
Canadian National Railway Reports Resilient Q2 2025 Results
Canadian National Railway Company ( (CNI)) has released its Q2 earnings. Here is a breakdown of the information Canadian National Railway Company presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Canadian National Railway Company (CN) is a leading North American transportation and logistics company, operating a vast rail network that connects Canada's coasts with the U.S. Midwest and Gulf Coast, facilitating the movement of over 300 million tons of goods annually. In its latest earnings report for the second quarter of 2025, CN demonstrated resilience in a challenging economic environment, achieving notable financial performance through strategic cost management and operational adjustments. Despite a slight dip in revenue, the company managed to increase its operating income and improve its operating ratio, reflecting efficient cost control measures. Key financial highlights from the quarter include a 5% increase in operating income to C$1,638 million, despite a 1% decrease in total revenues to C$4,272 million. The operating ratio improved to 61.7%, showcasing enhanced operational efficiency. Additionally, diluted earnings per share rose by 7% to C$1.87. However, revenue ton miles saw a slight decline of 1% to 59,215 million, indicating some challenges in freight volume. Looking ahead, CN has adjusted its 2025 earnings guidance due to ongoing economic uncertainties, now expecting adjusted diluted EPS growth in the mid to high single-digit range. The company remains committed to its capital investment plans, aiming to bolster its infrastructure and service capabilities amidst a volatile macroeconomic landscape.
Globe and Mail
2 hours ago
- Globe and Mail
Teck Resources gives green light to $2.4-billion B.C. mine extension
Teck Resources Ltd. TECK-B-T said on Thursday that it is going ahead with an extension of its Highland Valley Copper Mine development that could cost as much as $2.4-billion, making it the largest critical-minerals investment in B.C.'s history. Teck said the project will extend the life of the mine from 2028 to 2046 to meet surging demand for copper for the electrification of the global economy. The Vancouver-based company said it would start construction in August after garnering the required permits last month. The project is expected to create about 2,900 jobs and generate $435-million in additional gross domestic product during the construction phase, it said. It will support 1,500 jobs over the life of the mine. 'This extension of Canada's largest copper mine, Highland Valley Copper, is foundational to our strategy to double copper production by the end of the decade,' Teck chief executive officer Jonathan Price said in a statement. High Teck: The Canadian miner bets its future on a copper mine in the Atacama Desert $30-billion in investment needed by 2040 to meet Canada's critical mineral demand, report finds Extending production at the site, about 75 kilometres southwest of Kamloops, will generate a 'robust' rate of return for the company and guarantee access to the metal for the next two decades, Mr. Price said. He added that Teck looks forward to collaborating with First Nations and local communities as it develops the project. Production from the Highland Valley mine is expected to average 132,000 tonnes per year over its life, Teck said. 'The project will strengthen Canada's critical-minerals sector, generate new economic activity, and support the continuation of the jobs and community benefits that HVC generates for many more years to come,' he said. The company has said that it expects demand for copper to double by the middle of the century as the world shifts to a low-carbon economy and population grows, especially in cities. Engineering for the project is more than two-thirds complete and Teck said procurement and contracting are well under way. Based on Teck's most recent studies, it expects the extension will cost $2.1-billion to $2.4-billion. The outlay will go toward development of infrastructure at the site, expansion of its mining-equipment fleet, grinding-circuit upgrades, increased capacity for tailings storage and improvements to power and water systems, Teck said. The company said the new estimate reflects updated assumptions based on current construction-industry risks and potential opportunities for cost reductions during the work. It also takes into account the potential impact of tariffs on construction materials. Federal Energy and Natural Resources Minister Tim Hodgson said the mine extension positions the country as a critical-minerals supplier of choice. 'Canada has the natural resources that the world wants – and it is projects like these that put us on the map,' he said in a statement. Teck said it has updated its 2025 financial targets and its 2028 production outlook to reflect its decision to green-light the project.
CTV News
2 hours ago
- CTV News
Indoor Aquatics Facility Project sparks debate among Regina city council
The biggest item discussed at Regina's executive committee meeting on Wednesday, both in scope and cost, was the Indoor Aquatics Facility Project. The debate centered around committee recommending that city council approve a total project cost for the facility of $285.1 million. A new report put in front of city councillors this week has increased the price tag of the new aquatic facility by $40 million. To fund these additional costs, it is being proposed $30 million come from the re-prioritization of projects in the 10-year Recreation/Culture Capital Plan. That includes $1.28 million from the city's outdoor dog parks to the IAF Project. Ward 5 Coun. Sarah Turnbull proposed a motion to take the $1.28 million from the city's outdoor pools budget instead of dog parks, but the motion was lost by a vote of nine to one. The allocation of the remaining $10 million needed for the facility is proposed to be added to the city's available debt funding, increasing it from $146 million to $156 million. According to administration, the extra $10 million added to the city's debt would result in an increase in taxes of 57 cents per median household per month. Ward 10 Coun. Clark Bezo was not satisfied with this number figure though and motioned to table the IAF discussion until September during budget meetings, so that administration could provide a more thorough dollar figure on Regina residents' debt and tax bill. That motion was lost by a vote of eight to three, with Bezo, Ward 1 Coun. Dan Rashovich, and Ward 2 Coun. George Tsikilis voting in favour. A handful of delegates were at Regina City Hall to make their case for the aquatic facility to move ahead. Cyril Dorgigne with Regina Water Polo and Water Polo Saskatchewan claimed that Regina can't currently support national and international water polo competitions due to the small pool size at the Lawson Aquatics Centre and that the new facility will allow the city of Regina to host such events. 'We are the only top 10 club in the country that cannot host national finals, because we need two feet of deep tank and right now, we can only have one in Regina,' he said. Tracy Moser, the president of the Regina Piranhas Summer Swim Club, said there is limited pool space in Regina for competitive speed swimming. This summer, the club was forced to use some of the outdoor pools in the city due to a six-week closure of the University of Regina indoor pool. She said this challenge would be mitigated with a new aquatic facility. When questioning Moser, Bezo suggested putting a roof onto the recently renovated Wascana Pool. 'We've got Wascana Pool which is a brand-new state of the art facility,' he said. What are your thoughts if we put a roof over that one and cancelled this project?' Moser responded that would be a waste of dollars and would not sufficiently support sports like competitive swimming and water polo. 'Wascana would not meet the needs that we are looking for. We need 50 metres of length, you would never be able to host an event at Wascana, first of all with a roof overtop of it.' Marj Walton, who is on the Indoor Aquatic Facility Community Advisory Committee, encouraged council to get the ball rolling when it comes to the facility, saying it is the mandate of a municipality to have a high-level indoor aquatic facility, and Regina is currently falling behind. The motion to approve the new estimated cost of $285.1 million was passed by a vote of eight to one, with only Coun. Bezo voting against. The decision still requires final council approval next week.
