The Allstate Corporation (NYSE: ALL) began today’s trading in the red, after it announced estimated catastrophe losses for the month of August of $272 million or $215 million, after-tax, including favorable reserve reestimates for prior period events.Catastrophe losses for August include 15 events estimated at $306 million, with approximately $75 million related to a hail event in Calgary, Canada. The Calgary hail event estimate includes reinsurance reinstatement premiums and is net of anticipated reinsurance recoveries of $225 million.Total catastrophe losses for July and August were $814…
Category: Canada
Boeing Lays Off Thousands Of Workers As Strike Drags On
Commercial aircraft manufacturer Boeing Co. (BA) has furloughed tens of thousands of employees as a strike by 30,000 machinists drags on and halts the company’s production.Work on Boeing’s 737 MAX, and other aircraft, has been stopped, leading the company to layoff thousands of workers that it says aren’t currently needed. In a staff memo that’s been made public, Boeing chief executive officer (CEO) Kelly Ortberg said: “We are planning for selected employees to take one week of furlough every four weeks on a rolling basis for the duration of the strike.”Boeing has 150,000 employees…
Pressure still on oilsands sector despite silence after greenwashing law: think tank
Canada’s oilsands industry remains under pressure to reduce its greenhouse gas footprint, even as companies have clamped down on public communications in the wake of new anti-greenwashing legislation.
Pablo Rodriguez to announce run for Quebec Liberal Party leadership
The federal Liberals’ political lieutenant for Quebec, Pablo Rodriguez, is to make it official on Thursday morning that he will run for the leadership of the Quebec Liberal Party (PLQ).
Traffic services investigating after woman struck by GO train at Long Branch Station
Officers with the Toronto police’s traffic services unit are investigating after a 46-year-old woman was struck by a GO train at Long Branch Station on Tuesday.
Man found dead on Metropolitan Expressway, Quebec police looking for witnesses
Quebec provincial police (SQ) are trying to locate witnesses after a man was found dead on the Metropolitan Expressway (A-40) on Sept. 12.
Public service heads invited to seek top secret security clearance
Canada’s senior public servant has invited his provincial and territorial counterparts to apply for top secret-level security clearance.
Laval city councillor quits caucus as expenses investigation continues
Laval city councillor Paolo Galati has removed himself from his party’s caucus as an investigation continues into his expenses.
No subway service along stretch of Line 2 due to ‘oil-like substance’ on tracks: TTC
There is no subway service along a section of Line 2 this morning due to an “oil-like substance” on the tracks, the TTC says.
First career goals by Tom Pearce, Nathan Saliba rally Montreal to 2-2 draw with Revolution
Tom Pearce and Nathan Saliba scored in the second half — the first goals of their careers — and CF Montreal rallied for a 2-2 draw with the New England Revolution on Wednesday night.