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Air Canada profits soar as travel demand stays high - Yahoo Canada Finance

Author: Yahoo Canada Finance

Source: https://ca.finance.yahoo.com/news/air-canada-reports-1-25b-111458425.html

Image of Air Canada profits soar as travel demand stays high - Yahoo Canada Finance

ReutersCANADA STOCKS-TSX set to snap eight-day losing streak, Industrials riseCanada's main stock index seemed on track to snap an eight-day losing streak as TSX moved higher on Monday after Air Canada's annual profit forecast lifted the industrial sector while investor sentiment was optimistic ahead of a week full of scheduled economic data.At 10:32 a.m.ET (14:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 53.76 points, or 0.29%, at 18,791.15.Air Canada said it expects 2023 core profit towards the higher range of its previous forecast after strong demand for international travel helped the carrier beat third-quarter profit estimates.ReutersTSX set to snap eight-day losing streak, Industrials riseCanada's main stock index seemed on track to snap an eight-day losing streak as TSX moved higher on Monday after Air Canada's annual profit forecast lifted the industrial sector while investor sentiment was optimistic ahead of a week full of scheduled economic data.At 10:32 a.m.ET (14:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 53.76 points, or 0.29%, at 18,791.15.Air Canada said it expects 2023 core profit towards the higher range of its previous forecast after strong demand for international travel helped the carrier beat third-quarter profit estimates.BloombergSoFi Surges Most in Three Months on Higher Revenue Forecast(Bloomberg) -- SoFi Technologies Inc.rose the most in almost three months after the online lender increased its revenue forecast for 2023 and said deposits more than tripled from a year earlier.Most Read from BloombergIsrael Latest: Concern Mounts Over Gaza Civilians as War DeepensRussia Shuts Airport After Mob Encircles Flight From IsraelIsrael-Hamas War Escalation Puts Qatar’s Clout to the TestInnovent Drug Continues to Take Weight Off in 48 Week TrialHSBC Plans $3 Billion Buyback, CEO ToutsThe Canadian PressUS consumers keep spending despite high prices and their own gloomy outlook.Can it last?WASHINGTON (AP) — A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that Americans themselves have expressed in opinion polls.Yet economists caution that such vigorous spending isn't likely to continue in the coming months.Many households have been pulling money from a shrinking pool of savingsBloombergGold Falls From Above $2,000 as Israel Starts Ground Offensive(Bloomberg) -- Gold fell from above $2,000 an ounce — after breaching the threshold for the first time since May on Friday — as Israel’s ground invasion of Gaza appeared to be less extensive than some investors expected.Most Read from BloombergIsrael Latest: Concern Mounts Over Gaza Civilians as War DeepensRussia Shuts Airport After Mob Encircles Flight From IsraelIsrael-Hamas War Escalation Puts Qatar’s Clout to the TestInnovent Drug Continues to Take Weight Off in 48 Week TrialHSBC Plans $3 BThe Canadian PressEyedrops from CVS, Rite Aid and others carry possible infection risk, FDA saysWASHINGTON (AP) — U.S.health regulators are warning consumers not to use more than two dozen varieties of over-the-counter eyedrops because of the risk of infections that could lead to blindness. The Food and Drug Administration advisory applies to lubricating drops sold by six companies, including CVS Health, Target, Rite Aid and Cardinal Health.Consumers should stop using the products immediately and avoid purchasing any that remain on pharmacy and store shelves, the FDA said in a statementReutersFord to add more Tesla EV chargers to its networkFord will now add over 15,000 of Tesla's Superchargers to its network, up from its earlier projection of 12,000 chargers.The U.S.automaker said it would expand its BlueOval Charge Network in North America by 25% to over 106,000 chargers totally.The Canadian PressFinancial and tech stocks boost S&P/TSX composite, U.S.stock markets also upTORONTO — Strength in financial and technology stocks helped lift Canada's main stock index in late-morning trading, while U.S.stock markets also pushed higher. The S&P/TSX composite index was up 28.81 points at 18,766.20.In New York, the Dow Jones industrial average was up 282.79 points at 32,700.38.The S&P 500 index was up 19.25 points at 4,136.62, while the Nasdaq composite was up 64.93 points at 12,707.94.The Canadian dollar traded for 72.25 cents US compared with 72.17 cents US on FridaYahoo Finance VideoMeta introduces ad-free subscription service in the EUMeta (META) has launched a paid, ad-free subscription tier in Europe for its social media platforms Facebook and Instagram.The subscription will cost $10 per month for web access and $13 per month for mobile access. While concerns remain around data collection practices across various social media platforms, Meta states this subscription tier is a step towards enhancing user security and privacy.Yahoo Finance's Seana Smith and Brad Smith explore the potential consumer investments in this subscription tier and its impact on Meta's revenue.For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.The Canadian PressFive things to watch for in the Canadian business world in the coming weekTORONTO — Five things to watch for in the Canadian business world in the coming week: Air Canada results Air Canada will report its third-quarter results and hold a conference call with investors before financial markets open on Monday.Shares in the airline have been under pressure in recent weeks as it faces higher fuel costs, competition and interest rates.Economic report Statistics Canada will release its gross domestic product by industry figures for August on Tuesday. The report is also eNewsfileTiidal Provides Update on Strategic Review and Announces Intention to Commence Substantial Issuer BidToronto, Ontario--(Newsfile Corp.- October 30, 2023) - Tiidal Gaming Group Corp.(CSE: TIDL) (the "Company" or "Tiidal") announced today that its Board of Directors has concluded its previously announced strategic review process, as disclosed in the Company's press release dated June 9, 2023, which commenced following the sale of Tiidal Gaming NZ Limited dba Sportsflare to Entain Holdings (UK) Limited (the "Sportsflare Transaction").As part of its strategic review, the Board of Directors ...The Canadian PressUnifor says tentative deal reached to end strike at St.Lawrence Seaway authorityA strike that shuttered operations through the St. Lawrence Seaway for the past week came to an end on Sunday as both the union and employer announced they had reached a tentative contract with help from federal mediators.Neither the St.Lawrence Seaway Management Corp.nor Unifor — which represents about 360 seaway employees — shared details of the proposed agreement, but both sides were under pressure to resolve the strike that halted the shipment of cargo through the heavily-travelled corridCBCShakedown or smart business?Quebec restaurants balk at hefty penalty for using competitor's payment machinesIn the restaurant industry, stability is critical.So when David Ferguson noticed an unexpected $200 charge on his credit card bill from the tech company he uses to help manage his business, he figured it was an accounting mistake.Ferguson is the chef and owner at Gus, a small restaurant in Montreal's Petite-Patrie neighbourhood.He started using Lightspeed, a publicly traded Canadian point-of-sale (POS) supplier, about four years ago. It provides services to thousands of restaurants and retailers

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