Telecom helps lead the economic way

OTTAWA – While higher profits in the oil and bank industries drove a 5.8% upswing in third quarter operating profits to a record high $67 billion among Canadian corporations, telecommunications companies also showed significant profit increases as well, reports Statistics Canada this morning. However, those telecom profits (and also those in the car sector) were mainly due to unusually large charges booked against profits in the second quarter. Non-financial industries earned $47.5 billion, up 5.7% from the second quarter, which had shown a 0.4% profit decline. The financial industries' profits of $19.4 billion were up 6.2%, building on a second-quarter...