Small business confidence grew sharply in July, according to the latest monthly survey conducted by the Canadian Federation of Independent Business.The CFIB’s index rose nearly five points to 64.2, making up most of the ground lost in the previous four months. Measured on a scale of 0 and 100, an index above 50 means owners expecting their businesses’ performance to be stronger in the next year outnumber those expecting weaker performance.Small businesses in Saskatchewan were the most optimistic in Canada, with an index of 71.2, with post-flood Alberta not far behind at 66.8. Newfoundland and Labrador also scored high at 66.7, followed by Ontario at 66.5 and British Columbia at 64.9. New Brunswick (58.9), Manitoba (58.0), Nova Scotia (57.0), Quebec (56.4) and last-place Prince Edward Island (49.2) all registered below the national average.“Canada’s small and mid-size business owners are considerably more optimistic than they were just a month ago, and the current index reading is the best since February,” said CFIB vice-president and chief economist Ted Mallett.“Most of this turnaround is the result of much better numbers out of Ontario. Interestingly, the recent floods did not have a significant net impact on Alberta’s numbers, which would suggest the province is already getting back on track.”Mr. Mallett added that business confidence appears to be improving in most sectors, particularly construction and manufacturing, with retail the only sector notably on the downside.“A number of factors, including changes in pricing and hiring plans, new orders, capital spending, customer demand, and labour availability suggest an improvement in business performance,” he said.The findings are based on 1,135 responses, collected from CFIB members, to a controlled-access web survey from July 1 to 17. Results are considered statistically accurate to plus or minus 2.9% 19 times in 20.
Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (15,816.90, up 14.20 points):Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up 37 cents, or 15.68 per cent, to $2.73 on 59.3 million shares. The Montreal-based company believes it is on strong legal ground to avoid import duties for its CSeries commercial jets by setting up a second assembly line at Airbus’ plant in Alabama. Bombardier has a legal opinion that no duties can apply because half the parts, starting with the engines, and the final assembly for U.S. customers are American, according to a source.Aphria Inc. (TSX:APH). Healthcare. Down $1.06, or 13.38 per cent, to $6.86 on 9.9 million shares. Licensed marijuana producer stocks are down in a sector-wide selloff a day after the Toronto Stock Exchange said firms with cannabis-related business activities that violate U.S. federal law could face delisting.Aurora Cannabis Inc. (TSX:ACB). Healthcare. Down 11 cents, or 3.82 per cent, to $2.77 on 7.1 million shares.Canopy Growth Corp. (TSX:WEED). Healthcare. Down 61 cents, or 4.65 per cent, to $12.52 on 6.9 million shares.IC Potash Corp. (TSX:ICP). Agriculture. Up one cent, or 66.67 per cent, to 2.5 cents on 4.9 million shares.Trevali Mining Corp. (TSX:TV). Miner. Down nine cents, 5.73 per cent, to $1.48 on 4.4 million shares.
CiDRA Oilsands has achieved the successful commissioning of over 1,000 HALO® pipe wear measurement and characterisation systems. HALO SMARTring technology and service, a leading automated pipe wear measurement tool and service in the oil sands industry, “overcomes the deficiencies of traditional, manual ultrasonic methods for measuring pipe wall wear.” CiDRA says it leverages its sonar and signal processing expertise to provide “timely, accurate, repeatable pipe wear measurements and other relevant pipeline information and wear characteristics.” The SMARTring pipe wear measurement tool clamps around the outside of the pipe and remains installed throughout the life of the pipe. On larger diameter pipes, the SMARTring solution features twelve measurement locations, equally spaced around the pipe.On-demand, a CiDRA technician can connect a smart handheld reader-processor to each SMARTring sensor band and record all 12 measurements simultaneously. Because measurement of all 12 points can be made virtually in seconds, tens of thousands of points on hydrotransport and coarse tailings slurry pipelines can be frequently measured, and repeatedly and reliably tracked, thereby enhancing predictive modeling and action by pipeline and asset reliability teams. The system is certified for use in Ordinary Locations and Class 1 Div 2 environments. “This milestone reflects CiDRA’s ongoing commitment to our customers in Ft. McMurray”, said Perry McKechnie, Director of Operations, CiDRA Oilsands. “HALO represents just one of CiDRA’s many investments in innovative solutions that help support the production uptime and operating efficiency initiatives of our customer-partners.” Since it began serving the oilsands industry in 2003, CiDRA has successfully launched a series of innovative products and services, based on SONARtrac, SANDtrac and SMARTring technologies, that have been tailored to meet the unique challenges of its customers involved in mineable oilsands operations. These solutions help enable customers to enhance recovery, production and resource sustainability.