Six stories in the news for Tuesday, June 27———U.S. SLAPS ADDITIONAL DUTIES ON CANADIAN SOFTWOODCanadian softwood now faces average duties of about 27 per cent after the U.S. Department of Commerce added another 6.87 per cent in preliminary anti-dumping tariffs. The new duty will overlap for about two months with preliminary duties of 19.88 per cent announced in April that are set to expire Aug. 27. Nova Scotia, P.E.I. and Newfoundland and Labrador are not included in the latest tariff.———CANADA AWAITING MORE DETAILS ON U.S. TRAVEL BANThe Trudeau government is waiting for more details now that the U.S. Supreme Court has partially reinstated President Donald Trump’s ban on travellers from six mainly Muslim countries. But a spokesman for Immigration Minister Ahmed Hussen says dual nationals from the affected countries travelling on Canadian passports won’t fall under the restrictions. This also applies to Canadian permanent residents from the six countries who carry valid resident cards and valid U.S. visas, and are deemed eligible to enter the U.S.———INQUIRY TO BE HELD INTO ONTARIO NURSING HOME MURDERSThe case of a nurse who murdered eight seniors in long-term care homes in Ontario will be the subject of a public inquiry. Elizabeth Wettlaufer pleaded guilty last month to eight counts of first-degree murder and other charges and was sentenced Monday to life in prison with no eligibility for parole for 25 years. The province is finalizing the details of the inquiry and will make them public once approved by cabinet.———JURY SET TO DELIBERATE IN B.C. HARASSMENT CASEA B.C. jury is expected to hear the judge’s instructions today before starting deliberations in the case of a man accused of harassing his ex-wife. Patrick Fox is charged with criminal harassment over alleged online communications and publications regarding his ex-wife Desiree Capuano. Jurors have heard Fox maligned Capuano as a stripper, a white supremacist and a drug user.———FOOD SUBSIDY APPROVED FOR CUT-OFF TOWNChurchill will be covered by the federal government’s Nutrition North food subsidy program until the Manitoba town’s only land link to the outside world is restored. The community of 900 on the western shore of Hudson Bay has been cut off since the rail line into town was badly damaged by spring flooding. Without the rail line, goods and people have to be flown in to Churchill at a much higher cost. Nutrition North is normally used to offset a portion of the extra costs of shipping food by air.———‘COME FROM AWAY’ A FOUR-PRIZE WINNER AT DORASCanadian smash “Come From Away” won four prizes at the Dora Mavor Moore Awards on Monday, including best production in the musical theatre category. The homegrown musical about Newfoundland hospitality after the 9/11 attacks is currently on an award-winning run on Broadway. The Mirvish production also took home the best new musical/opera award, and an outstanding female performance prize for Jenn Colella for her portrayal of real-life retired airline Capt. Beverley Bass.———ALSO IN THE NEWS TODAY:— Italian President Sergio Mattarella is in Ottawa for a state visit.— Catherine Tully, the Information and Privacy Commissioner for Nova Scotia, will release her 2016-2017 annual report.— Ontario Ombudsman Paul Dube will release his annual report for the 2016-2017 fiscal year.— Environment Minister Catherine McKenna will meet with her U.S. and Mexican counterparts in Charlottetown.
MONTREAL — Air Canada’s fourth-quarter revenue and adjusted earnings came in ahead of analyst estimates, as the Montreal-based airline posted record-high annual revenue for 2017.Its adjusted net income was $61 million, or 22 cents per share for the quarter — ahead of analyst estimates of 14 cents per share, according to Thomson Reuters data.The airline’s operating revenue was $3.82 billion in the fourth quarter, up from $3.43 billion a year earlier and above the estimate of $3.745 billion.Net income was $8 million or two cents per share for the three months ended Dec. 31, which was an improvement over a 2016 fourth-quarter loss of $179 million but lower than expected.Analysts had estimated 15 cents per share of net income.“Overall, we liked what we saw in the Q4 results,” wrote analyst Walter Spracklin of RBC Dominion Securities in a note to clients.He added that Air Canada’s new guidance shows its costs will be higher in the first quarter and full year than the RBC estimate, and includes a number of one-time costs.Spracklin said analysts would be looking for more information about management’s margin expectations for 2018, which weren’t mentioned in the press release.Companies in this story: (TSX:AC)