There are three rather surprising money stories worth noting. Shares of Loblaw, Canada’s biggest grocer, fell the most in almost four years today after it said earnings this year will bump downward from 2011 because of higher costs for technology. Loblaw fell 5.6 percent to $35.25 at the close in Toronto. It’s the largest drop since April 21, 2008, after fourth-quarter profit missed analysts’ estimates. No word on what kind of technology Loblaw has purchased to cause this nosedive. Airplanes? Well, better news at Tim Hortons, but still curious. Tim says sales improved in the fourth quarter but profits declined. More technology? The best part of this is that Tim increased the quarterly dividend a staggering 23.5 per cent. Whatever you say Tim. Finally, the high-end investment firm First Leaside Group has been granted bankruptcy protection. First Leaside doesn’t appear to have much to do with Leaside. It’s based in Uxbridge. The company has been teetering since last fall when it became clear that the rents it expected to get for properties in the U.S. were not attainable. And although investors appear to have lost a lot, it also seems they have lots left. News reports say qualified investors needed seven figure liquid reserves to get in.
