TORONTO — Five things to watch for in the Canadian business world in the coming week:
Cabinet retreat
The federal cabinet will hold a retreat in Halifax this week starting on Sunday. The meeting comes after the federal government moved to end a labour dispute at Canada’s two biggest railways with binding arbitration last week.
Air Canada
The federal conciliation process between Air Canada and the union representing its pilots comes to an end Monday. The period will be followed by a 21-day cooling off after which the 5,400 pilots will be in a legal strike position starting Sept. 17. The pilots gave their union, the Air Line Pilots Association, a strike mandate last week if they are unable to negotiate a deal.
Bank earnings
Five of Canada’s big banks will report their third-quarter results this week. BMO Financial Group and Scotiabank will report their results on Tuesday, followed by National Bank of Canada and Royal Bank of Canada on Wednesday. CIBC is expected to report its results on Thursday.
Lululemon
Clothing retailer Lululemon Athletica Inc. is scheduled to report its second-quarter results on Thursday. Lululemon recently outfitted Canada’s Olympic team at the Summer Games in Paris.
GDP
Statistics Canada will report its figures for gross domestic product for June and the second quarter of 2024 as a whole on Friday. The federal agency’s preliminary estimate suggested real gross domestic product grew at an annualized rate of 2.2 per cent in the second quarter.
This report by The Canadian Press was first published Aug. 25, 2024.
Companies in this story: (TSX:AC, TSX:BMO, TSX:NA, TSX:BNS, TSX:RY, TSX:CM)
