Top headlines: Loblaw to build more than 40 new stores, create 7,500 jobs in $2-billion expansion
Loblaw Cos. Ltd. says it will build more than 40 new stores as part of a record investment plan of more than $2 billion.
The parent company of Loblaws and Shoppers Drug Mart said it will also expand or relocate another 10 locations.
It will renovate more than 700 others.
Loblaw said the company’s capital investments this year are expected to create more than 7,500 jobs in Canada.
The company has a network of 2,500 stores across the country.
In addition to Loblaws and Shoppers Drug Mart, the company’s banners include No Frills, Real Canadian Superstore and T&T.
Read the full story.
Canada’s main stock index was down slightly and U.S. markets also fell, as investors continue to make guesses about when central banks on either side of the border will start cutting interest rates.
The S&P/TSX composite index was down 38.08 points at 21,217.53.
In New York, the Dow Jones industrial average was down 64.19 points at 38,563.80. The S&P 500 index was down 30.06 points at 4,975.51, while the Nasdaq composite was down 144.87 points at 15,630.78.
The Canadian dollar traded for 73.98 cents U.S. compared with 74.16 cents U.S. on Friday.
The April crude oil contract was down US$1.42 from Friday at US$77.04 per barrel, while the March natural gas contract was down three cents at US$1.58 per mmBTU.
The April gold contract was up US$15.70 from Friday at US$2,039.80 an ounce and the March copper contract was up three cents at US$3.87 a pound.
The Canadian government will provide up to $2 billion in low-cost financing to accelerate homebuilding for middle-income families in British Columbia, Prime Minister Justin Trudeau announced Tuesday.
The investment adds to the province’s commitment to provide $2 billion in loans and $950 million in
Read more on financialpost.com
