TORONTO — Five things to watch for in the Canadian business world in the coming week:
TC Energy results
TC Energy Corp. will release its fourth-quarter financial results on Tuesday. The company said last week that the cost of cleanup and remediation of an oil spill from its Keystone pipeline in December would be about US$480 million. TC Energy says the leak happened due to a combination of factors, including bending stress on the pipe and a welding flaw.
Home sales
The Canadian Real Estate Association is expected to release its January home sales figures on Wednesday. Home sales tumbled last year as interest rates rose and pushed the cost of mortgages higher. CREA has said it expects home sales in 2023 to decline 0.5 per cent compared with 2022, while the national average home price is forecast to decline 5.9 per cent on an annual basis to $662,103 this year.
Shopify results
Shopify Inc. will announce financial results for its fourth quarter after markets close on Wednesday. The company announced more than 100 new product updates last week, including several aimed at helping retailers reach more customers, make checkout easier and better manage shipping.
Beaudry speech
Bank of Canada deputy governor Paul Beaudry will give a speech Thursday in Edmonton on the importance of the central bank's two per cent inflation target. The Bank of Canada has raised its key interest rate target eight consecutive times since March, bringing it to 4.5 per cent in an effort to cool inflation. The central bank said in its last rate announcement that it would take a conditional pause while it assesses the impact of the cumulative interest rate increases.
Air Canada results
Air Canada to release is fourth-quarter financial results and hold a conference call with financial analysts and investors on Friday. The results will include the December holiday travel period that saw winter storms cause chaos for airlines which were forced to deal with cancellations and delays during an already busy time of the year.
This report by The Canadian Press was first published Feb. 12, 2023.
Companies in this story: (TSX:TRP, TSX:SHOP, TSX:AC)
The Canadian Press
