Economy & Markets

OSC to hold hearing on Home Capital; Manulife, Sun Life report quarterly earnings

By Canadian Press |
Source: The Canadian Press

Five things to watch for in the Canadian business world this coming week:

> Sparking power and controversy

Hydro One Ltd. will release its second-quarter results Tuesday. It's the company's first earnings report since it bought U.S. utility Avista Corp. for $6.7 billion last month. The takeover has been controversial, as it would see Hydro One assume ownership of a coal-burning plant in Montana after Ontario weaned itself off the fuel.

> Let's make a deal

The Ontario Securities Commission (OSC) will hold a hearing Wednesday to decide whether to approve a settlement with Home Capital Group Inc. In June, the mortgage lender struck a $11-million agreement to settle its case with the OSC involving allegations of misleading disclosure about falsified information on loan applications.

> Seeking direction

Aimia is set to release its second-quarter results Wednesday after markets close with a conference call the next day. Investors and analysts will be looking for answers after a bruising few months during which Air Canada announced it was not renewing its Aeroplan contract with the marketing firm. It has lost 80% of share value since.

> The bottom line

Other corporate earnings to take note of this week include Valeant Pharmaceuticals International Inc., Quebecor Inc., Canadian Tire Corp. Ltd., Manulife Financial Corp. and Sun Life Financial Inc.

> The economic docket

There are not a lot of economic data to push the needle this week, but for the junkies there's building permits and housing starts on Wednesday followed by the new housing price index Thursday.