More than half of Canadians say freedom of speech is under threat, new poll suggests
A new poll suggests a majority of Canadians feel their right to freedom of speech is in danger.
Canadian auto parts manufacturer Magna International Inc. says it is beginning to feel the impact of the Ambassador Bridge blockades on its business.
On a conference call discussing the company's latest financial results Friday, Magna CEO Seetarama Kotagiri said some customers have had to idle or adjust production schedules as a result of the bridge closure.
"We're watching it closely and definitely hope it gets resolved quickly," he said.
Magna shares fell as much as 5.4 per cent in early trading on the news, though they pared losses slightly to sit down $4.64 or 4.5 per cent at $98.41 in midafternoon trading.
The Ambassador Bridge closure has cost an estimated $600 million in damages to the automotive industry so far, according to the Automotive Parts Manufacturers' Association, which filed a motion against the protestors on Thursday.
Other Canadian businesses are calling on elected representatives to take steps to put an end to the blockades in an open letter released this afternoon and signed by more than 170 industry groups and chambers of commerce.
"The blockades not only strike against the rule of law that protects our rights and freedoms, but also undermine Canada's international reputation," the letter states.
In addition to the pressures stemming from the trucker protests, Magna's CEO said production for 2022 will continue to be hampered by the ongoing semiconductor supply constraints.
Earlier Friday, Magna reported that its fourth-quarter profit and sales fell compared with a year ago.
The company also raised its dividend. Magna, which keeps its books in U.S. dollars, said it will now pay a quarterly dividend of 45 cents per share, up from 43 cents per share.
The increased payment to shareholders came as it said it earned net income attributable to Magna of US$464 million or US$1.54 per diluted share for the quarter ended Dec. 31. The result compared with a profit of US$738 million or $2.45 per diluted share in the last three months of 2020.
Sales for the quarter totalled US$9.11 billion, down from $10.57 billion a year earlier, as Magna said global light vehicle production fell 17 per cent, driven by the semiconductor chip shortages the industry faced throughout 2021.
On an adjusted basis, Magna said it earned US$1.30 per diluted share in its most recent quarter compared with an adjusted profit of US$2.83 per share in the fourth quarter of 2020.
Analysts on average had expected an adjusted profit of 85 cents per share, according to financial markets data firm Refinitiv.
This report by The Canadian Press was first published Feb. 11, 2022.
A new poll suggests a majority of Canadians feel their right to freedom of speech is in danger.
Here are the latest recalls Canadians should watch out for, according to Health Canada and the Canadian Food Inspection Agency.
Ontario’s Special Investigations Unit has released new details about a wrong-way collision in Whitby on Monday night that claimed the lives of four people.
Tiger Woods accepted a special exemption for the U.S. Open at Pinehurst No. 2, the first time the three-time champion has needed an exemption to play.
Emotional support animal registrations in the United States reached 115,832 last year, by an industry group’s count. But in the eyes of reptile rescuer Joie Henney, there’s only one: 'Wally Gator.'
William Nylander scored twice and Joseph Woll made 22 saves as the Toronto Maple Leafs downed the Boston Bruins 2-1 on Thursday to force Game 7 in their first-round series.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
The federal government is set to announce funding to help Toronto host six matches at the 2026 FIFA World Cup.
With the sheer number of passwords needed today, it may come as no surprise that over 60 per cent of Canadians feel overwhelmed, and over a third reportedly forget their passwords monthly.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.