All news from February 9, 2010

T-shirt maker Gildan Activewear Inc reported better-than expected quarterly profit on strong growth in activewear unit sales volumes and favorable manufacturing, cotton and energy costs.

Jazz Air Income Fund said on Tuesday it intends to buy 15 Q400 NextGen aircraft from Bombardier Inc and has an option to buy a further 15.

Teck Resources has nearly finishing digging itself out from beneath a mountain of debt taken on to finance its purchase of Fording Coal in 2008, the company’s chief executive said on Tuesday, but it is now facing a key hurdle at its flagship zinc mine.

Suncor Energy Inc., Canada’s largest oil company, said it’s assessing the impact of a fire at one of two oil sands upgraders north of Fort McMurray, Alberta.

Intrawest ULC, operator of Olympic downhill venue Whistler Blackcomb, announced the sale of its Sandestin Golf and Beach Resort in Florida to the Becnel family on Tuesday.

Toyota Canada said it’s recalling more than 3,000 Prius and Lexus hybrids, together with some Camrys, as part of a worldwide recall of the best-selling models because of braking problems.

What’s top of mind for the average Canadian business owner as a new decade gets underway? Mostly, income taxes, sales taxes and specifically how to comply with regulatory obligations, especially the introduction of HST in Ontario and British Columbia this July.

The Vancouver Olympics have pulled in more than double the sponsorship from domestic companies as the Turin Olympics despite tough economic times, setting a record for a Canadian sporting event.

Molson Coors Brewing Co. and SABMiller PLC said the recession has dampened consumer appetite for beer and their thirst is unlikely to return in the first half of this year as economies remain weak.

Nexen Inc said Tuesday that production at its Long Lake oil sands project in northern Alberta is improving, as it ramps up output of the steam needed to liquefy the tarry-bitumen trapped in the sands.

Canada’s currency and benchmark stock index both rallied Tuesday thanks in part to indications the European Union could come to the rescue of heavily-indebted Greece and improving commodity conditions.

Agrium Inc., Canada’s second-biggest potash company, said the outlook for the fertilizer market is picking up after reporting a 75% drop in fourth-quarter earnings.

Walt Disney Co reported stronger-than-expected earnings and revenue Tuesday, as strength in its cable operations offset flat sales at its parks and studio division.

Google Inc injected social networking features into its popular Web email product as the world’s No. 1 search engine seeks to fend off competition from Facebook and Twitter.

European Union leaders should tell Greece on Thursday that it will receive the bloc's support in exchange for clear budget commitments, a senior EU official said.

Molson Coors Brewing Co reported a lower-than-expected quarterly profit on Tuesday mainly on weak volumes across all markets, prompting the beer maker to issue a tepid volume forecast for 2010.

The euro rose on Tuesday on speculation that European Union nations could bail out errant member Greece, while global stocks inched higher, lifted by emerging market shares.

Coca-Cola Co reported a quarterly profit in line with analysts estimates as strong volume in Latin America and other parts of the world offset a decline in North America.

Toyota Motor Corp said it would recall nearly half a million new Prius and other hybrid cars for braking problems as it battled criticism of its response to the spiraling safety crisis.