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Gildan Activewear reports lower earnings, rising sales in third quarter

Published Tue, 12 Nov 2024 01:54:44 GMT

MONTREAL — Gildan Activewear Inc. says it earned US$127.4 million in the third quarter, down 16.7 per cent from US$153 million a year earlier.The Montreal-based company says net sales rose 2.3 per cent to US$869.9 million, up from US$850 million during the same quarter last year. Diluted earnings per share were 73 cents US for the quarter, down from 84 cents US last year.President and CEO Glenn Chamandy says the company’s third-quarter performance was in line with its expectations. The company says it continues to expect its revenues will grow in the fourth quarter compared with last year. Gildan shares were up almost 10 per cent in midday trading after the results. This report by The Canadian Press was first published Nov. 2, 2023.Companies in this story: (TSX:GIL)The Canadian Press

An investment bank but nothing for cash-strapped Ontarians in mini-budget

Published Tue, 12 Nov 2024 01:54:44 GMT

Despite a growing number of Ontarians struggling to pay the bills, the Ford government’s fall economic statement doesn’t mention the word affordability once and contains no new measures to help individuals struggling with high inflation. The document is big on infrastructure spending, contains no new fiscal help for the city of Toronto, and projects a ballooning budget deficit for this year. Here are some of the highlights:INFRASTRUCTURE BANKThe highlight of the so-called mini-budget is the government setting aside $3 billion for the creation of an infrastructure bank. The government says the new arms-length institution will be  “Responsible for attracting public-sector pension plans and other trusted institutional investors to participate in large-scale critical infrastructure projects.” The bank will have the mandate to help build major projects like long-term care facilities, energy, housing, municipal infrastructure and transportation while helping t...

Top court nominee chosen for expertise in criminal, constitutional law, MPs hear

Published Tue, 12 Nov 2024 01:54:44 GMT

OTTAWA — The chair of the independent advisory board tasked with helping to fill a vacancy on Canada’s top court says they were looking for a candidate who was an expert in both criminal and constitutional law. Wade MacLaughlin, a former premier of Prince Edward Island, spoke at a parliamentary committee today about why the board shortlisted Mary Moreau, the chief justice of the Court of King’s Bench of Alberta, as a candidate to join the Supreme Court.MacLaughlin says Moreau was one of two people the board recommended to Trudeau, out of a pool of 13 applicants.Justice Minister Arif Virani, who also testified today, says they needed to find a candidate who was functionally bilingual and who hailed from Western or Northern Canada, since the court must have representation from all regions of the country. Former justice Russell Brown retired from his seat on the top bench in June. His exit came amid a probe by the Canadian Judicial Council into an allegation of misconduct a...

Cogeco reports decline in profit despite record quarterly internet customer additions

Published Tue, 12 Nov 2024 01:54:44 GMT

MONTREAL — Cogeco Inc. reported a profit attributable to shareholders of $29.2 million in its fourth quarter, down 19.8 per cent from earnings of $36.4 million during the same period a year ago.The company says it saw a quarterly 15-year high of 14,041 internet service customer net additions driven by organic growth and new customers gained from network expansions.Cogeco reported revenue of $766.7 million, up 2.6 per cent from a year ago.Meanwhile, its cable and internet subsidiary, Cogeco Communications Inc., says profit attributable to shareholders was $86.5 million, down 17.6 per cent from a year earlier. Revenue for the third quarter ended Aug. 31 was $743.4million, up 2.5 per cent from a year earlier.Chief executive Philippe Jetté says while there remains a challenging economic and competitive environment in the U.S., consumer demand for Cogeco’s higher speed offerings has resulted in rising revenue per subscriber to help offset customer losses at lower price points.The c...

Saskatoon mother accused of faking deaths, going to U.S. pleads guilty to 3 charges

Published Tue, 12 Nov 2024 01:54:44 GMT

A Saskatoon woman accused of faking her death and that of her child before they crossed the border into the United States has pleaded guilty to three charges and apologized in court.Dawn Walker pleaded guilty to forgery offences as well as abduction in contravention of a custody or parenting order.A joint submission from Crown and defence lawyers is recommending she serve a one-year conditional sentence and 18 months probation.Walker and her child were reported missing in July 2022 after her pickup truck was found near a river at a park south of Saskatoon.Some people feared the pair had drowned and the Federation of Sovereign Indigenous Nations, where Walker worked, organized a vigil and searches.Two weeks later, she and her child were found by U.S. authorities in Oregon.Walker also faces two charges in the U.S. related to identity fraud for allegedly crossing the border with fake identification.After she was returned to Canada, her lawyers and relatives alleged she was a victim of ...

Mayor Johnson in Washington D.C. over migrant crisis

Published Tue, 12 Nov 2024 01:54:44 GMT

CHICAGO — Mayor Brandon Johnson is joining other mayors in Washington D.C. Thursday to ask federal officials for help with the migrant crisis.It's happening a day after city council members showed division on purchasing land for a new shelter.Johnson joined mayors from New York, Denver, Houston and Los Angeles to ask for financial assistance with handling migrant housing.Since last year, Chicago has received more than 20,000 migrants from the Texas border — and opened 24 shelters.The handling of asylym seekers has divided Chicago's City Council.Purchasing an abandoned retail property to build a Morgan Park shelter for migrants was derailed by a group of frustrated alderpeople Wednesday, some saying the money spent on migrants could be given to communities in need.The discussion led to a call for a special city council vote regarding whether Chicago should keep its status as a sanctuary city. City Council vote on migrant shelter in Morgan Park temporarily shelved A group of council...

Prosecutor: Former Memphis officer pleads guilty to state and federal charges in Tyre Nichols' death

Published Tue, 12 Nov 2024 01:54:44 GMT

MEMPHIS, Tenn. (AP) — A former Memphis police officer changed his plea to guilty Thursday in the fatal beating of Tyre Nichols, becoming the first of five officers charged to reverse course.Desmond Mills Jr. entered his plea during a hearing at the Memphis federal courthouse as part of a larger agreement to settle charges in state court as well. It wasn’t immediately clear how the four other officers planned to respond and specifically whether they would follow suit. Their attorneys declined to comment on Mills’ guilty plea.Mills pleaded guilty to federal charges of excessive force and obstruction of justice on Thursday and has agreed to plead guilty to related state charges. Prosecutors are recommending a 15-year sentence for the former officer, although the final sentencing decision rests with the judge.Caught on police video, the Nichols beating in January was one in a string of violent encounters between police and Black people that sparked protests and renewed debate ...

Green Day, Smashing Pumpkins to play at Wrigley Field next summer

Published Tue, 12 Nov 2024 01:54:44 GMT

CHICAGO — Green Day is bringing "The Saviors Tour" to Chicago next summer.The rock band made the tour announcement Thursday, which will celebrate 30 years of their 'Dookie' album, 20 years of 'American Idiot' and our their new album 'Saviors.' Part of the huge announcement was news that the Smashing Pumpkins will join the tour, along with Rancid and the Linda Lindas.The Saviors Tour will kick off in North America on July 29 in Washington DC — and will make a stop at Chicago's Wrigley Field on August 13.Pre-sales for tickets begin November 7. General ticket sales begin on November 10 at greenday.com.

Ex-Memphis police officer pleads guilty to charges in the death of Tyre Nichols

Published Tue, 12 Nov 2024 01:54:44 GMT

MEMPHIS, Tenn. (WREG) – Former Memphis police officer Desmond Mills pleaded guilty Thursday morning to federal charges and has agreed to plead guilty to state charges in the death of Tyre Nichols, according to the Shelby County District Attorney's Office. Mills has also agreed to cooperate with federal and state investigations.Judge Mark Norris will decide on his sentencing at an upcoming hearing. Both federal and state prosecutors have agreed to a recommended sentence of 15 years. "This is but the first domino — the first domino — to fall," Nichols' father said in a press conference outside the federal courthouse. "It's a start," his mother said.Tyre Nichols' father, mother and attorneys speak outside a federal courtroom in Memphis after a former Memphis police officer agreed to plead guilty to several charges related to Nichols' death. (WREG)The U.S. Attorney's Office for the Western District of Tennessee said Mills pleaded guilty to using excessive force and failing to intervene ...

Third suspect sentenced in connection with 2020 death of Austin ice cream man

Published Tue, 12 Nov 2024 01:54:44 GMT

AUSTIN (KXAN) — The third and final man charged in connection with the death of an Austin ice cream man in 2020 was sentenced on a lesser charge for robbery Oct. 23.Court records showed 22-year-old Devlon Wardy was sentenced to serve 15 years in state prison related to the death of 68-year-old Adelaido Bernabe Urias. PAST COVERAGE: APD searching for getaway driver, identifies 3 arrested on murder charges in death of Austin ice cream man According to plea documents, Wardy agreed to have a capital murder charge and an aggravated robbery charge waived.Wardy was given a jail credit of 1,176 days — more than three years — toward his sentence, according to court documents.In connection with Urias’ death, Marquis Davis and Jermaine Jones were both previously sentenced to serve time in prison.