FINWIRES · TerminalLIVE
FINWIRES

Bombardier Highlights US Jobs, Supply Chain After Donald Trump Calls for End to US Sales

By

Bombardier (BBD-A.TO, BBD-B.TO) on Monday highlighted its extensive US operations, jobs and supply chain ties in a statement that did not mention Donald Trump, but came after the US President called for an end to sales of the Canadian aircraft maker's products in the United States.

Trump said in a Truth Social post that Bombardier's products "aren't good enough" and accused Canada of unfairly restricting US companies, including Gulfstream Aerospace, while benefiting heavily from the American market.

"NO MORE SELLING BOMBARDIER IN THE UNITED STATES! Their products aren't good enough! Over 50% of their revenue comes from the United States," said Trump. "If they want our Market, they must build here, and stop treating America like a "piggybank.""

Bombardier said its aircraft are built with American-made components such as engines, avionics and many more key systems provided by American companies. Its aircraft create "tens of thousands of US jobs" through its growing American footprint and within its supply chain made up of about 2,800 American companies across 47 states, the company said.

Bombardier's facility in Red Oak, Texas, makes wings for business jets. Crucial flight control components are made in its Los Angeles, California area facility, it added.

It also reiterated plans to grow its defense activities and service network, and the inauguration of a new facility in Fort Wayne, Indiana, that it expects later this year.

Related Articles

Mining & Metals

Panther Minerals Closes CA$3 Million Private Placement

Panther Minerals (PURR.CN) after trade Friday said it closed a CA$3 million brokered private placement, issuing six-million units and six-million special warrants.Both the units and special warrants were priced at CA$0.25 each, generating CA$1.5 million in gross proceeds from each, it added.Each unit includes one common share and one warrant. Each warrant allows the holder to buy one additional common share at CA$0.33 per share for 24 months from the closing date, according to the statement.The company said it plans to use the net proceeds to explore and develop its East Brouillan Property, including drilling and geophysical work, as well as for general working capital purposes.

$PURR.CN
Mining & Metals

Premium Income, Premium Global Income Fund Maintain Monthly Cash Distributions

Premium Income (PIC-A.TO) and Premium Global Income Split Fund (PGIC.TO) Friday after trade maintained their monthly cash distribution.Premium Income will pay CA$0.09 per class A share on Sept. 29 to shareholders of record on Sept. 15.Premium Global Income Split Fund will pay CA$0.08 per class A share, also on Sept. 29 to shareholders of record on Sept. 15.Premium Income shares closed down CA$0.01 at CA$10.27 on the Toronto Stock Exchange, while Premium Global Income shares closed up CA$0.06 at CA$7.37.

$PGIC.TO$PIC-A.TO
Mining & Metals

TSX Closer: The Index Falls as Energy, Financials Weigh; Canada Posts Surprise August Job Loss

The S&P/TSX Composite Index closed lower on Friday ahead of the Labor Day holiday weekend as weakness in energy and financial stocks outweighed gains in industrials and utilities, while investors assessed a surprise decline in Canadian employment and stronger US jobs growth.The index closed down 119.32 points, or 0.3%, at 36,513.8. Energy led decliners, down 1.0%, followed by Financial, down 0.3%. Industrials and Utilities were up 0.7% each.The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, jumped 1.6%.In commodities, West Texas Intermediate (WTI) and Brent crude edged higher on Friday as renewed hostilities between the US and Iran and reduced vessel traffic through the Strait of Hormuz kept concerns over Middle East oil supplies in focus. October WTI crude oil contract settled up $0.18, or 0.2%, at $91.48 per barrel, while November Brent oil was last seen up $0.48, or 0.5%, at $96.00 per barrel.Meanwhile, December Comex gold futures sked 1.3%, or $57.60, to $4,482.30 per ounce at last look.In currencies, the US dollar edged higher 0.3% against the Canadian dollar, with USD/CAD at 1.3834 at last look.On the economic front, Canada lost 42,000 jobs, or 0.2% month over month, in August, while the unemployment rate was unchanged at 6.4%, Statistics Canada reported in its Labour Force Survey (LFS) released on Friday. August's employment drop came as a surprise, as a Bloomberg survey saw a 15,000 gain. The unemployment rate was as expected.By sector, employment fell most sharply in business, building and other support services, which shed 20,000 jobs, or 2.8%. Average hourly wages rose 2.0% year over year in August to CA$37.02, slowing from 2.8% growth in July and marking a second consecutive month of deceleration, according to agency."It is worth noting that the manufacturing sector, which we closely monitor amid trade tensions, gained 22,000 jobs during the month, following an 11,000 increase in July," National Bank of Canada wrote in a note.Whereas, the US economy added 162,000 jobs last month, the biggest monthly job gain since March, adding to other signs that point to a resilient economy, including "healthy" vehicle sales, said Economist Ksenia Bushmeneva in a TD Economics note.

S&P/TSX CompositeS&P/TSX Composite$CAD$CXY$USD