TORONTO — Five things to watch for in the Canadian business world in the coming week:
Insurers' earnings:
Great-West Lifeco will kick off the major insurers’ Q2 earnings on Tuesday, followed by Manulife and Sun Life on Wednesday. A Great-West subsidiary recently signed a $4.45-billion deal to buy Prudential Financial Inc.'s retirement business, as the company aims to deepen its presence in the U.S. market.
BCE results:
BCE Inc. will hold a Q2 earnings conference call on Thursday. The telecom company, along with rivals Rogers Communications and Telus, recently purchased hundreds of licences for a key band of 5G wireless spectrum from the federal government, which auctioned off $8.9 billion in spectrum.
Magna update:
Magna International Inc. will hold a Q2 conference call on Friday. The Ontario-based auto parts manufacturer recently inked a deal to acquire Swedish automotive safety technology firm Veoneer for US$3.8 billion as part of its goal of becoming a global leader in advanced driver assistance technology.
July jobs numbers:
Statistics Canada is scheduled to release its Labour Force Survey for July on Friday. The agency previously reported that the economy added 230,700 jobs in June — all of them part-time — as restrictions put in place to slow the pandemic were rolled back across the country.
Western Forest earnings:
Western Forest Products will hold a Q2 earnings call on Friday. Rivals Resolute Forest Products and West Fraser Timber Co. both reported strong earnings last week, thanks in part to soaring lumber prices resulting from a boom in home renovation projects.
This report by The Canadian Press was first published August 1, 2021.
The Canadian Press
