July 29th, 2016

Business

New water supply to Saskatchewan city to deal with Husky oil spill by weekend

By The Canadian Press on July 29th, 2016

PRINCE ALBERT, Sask. – Saskatchewan’s third-largest city should have new sources of water by the weekend as it continues to deal with an oil spill in the North Saskatchewan River. Prince Albert shut down its intake from the river on Monday to protect its treatment plant and the public from water tainted by the Husky ... Read More »

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RIDGELINE FOLLOWS OWN PATH

By Lethbridge Herald on July 29th, 2016

Al Beeber Lethbridge Herald abeeber@lethbridgeherald.com The Honda Ridgeline is back in black and better than ever. When it was first introduced years ago, Honda‚Äôs pickup truck was the quirky kid in a bus full of cool kids. It was the outsider whose personality only appealed to a certain crowd who refused to go with the ... Read More »

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Enbridge touts pipeline safety as it waits for federal cabinet decisions

By Ian Bickis, The Canadian Press on July 29th, 2016

CALGARY – The head of Canada’s largest pipeline company is touting the increased safety of the industry as he awaits word on the fate of two major expansion projects from the Trudeau government. Enbridge (TSX:ENB) chief executive Al Monaco said on an investor call Friday that the heightened critical focus on the industry has led ... Read More »

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TREB wins extension days before deadline to publish home sales data online

By Aleksandra Sagan, The Canadian Press on July 29th, 2016

TORONTO – A Federal Court judge has decided the Toronto Real Estate Board doesn’t have to comply with a Competition Tribunal ruling that would allow its realtor members to post home-sales data online – for now. Judge Mary J.L. Gleason made the order on Wednesday, days before TREB’s Aug. 3 deadline to make sales figures, ... Read More »

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Toronto stock index and loonie creep higher, oil near 4-month low

By The Canadian Press on July 29th, 2016

TORONTO – The major stock market indexes are in a holding pattern this morning as crude oil trades at its lowest level in nearly four months. The September crude contract was at US$41.46 per barrel, up 32 cents. The contract closed Thursday at $41.14, the lowest settlement price since early April. The Toronto Stock Exchange’s ... Read More »

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Federal government runs surplus of $114 million over first two months of 2016-17

By The Canadian Press on July 29th, 2016

OTTAWA – The federal government ran a budgetary surplus of $114 million over the first two months of the 2016-17 fiscal year. The Finance Department’s latest fiscal monitor says Ottawa’s surplus of $706 million in April was followed by a deficit of $592 million in May. The document says for the two months combined, revenues ... Read More »

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Profit, sales rise at Canadian food giant George Weston in its second quarter

By The Canadian Press on July 29th, 2016

TORONTO – George Weston Ltd. (TSX:WN) produced $133 million of net income available to shareholders in the second quarter as sales by the grocery and bakery company increased by 2.1 per cent. The profit amounted to $1.04 per share, or $1.56 per share after adjustments, with $11.1 billion of sales. In last year’s second quarter, ... Read More »

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US regulators: Still heavy risk in big bank loans

By The Associated Press on July 29th, 2016

WASHINGTON – Federal regulators say risk remains heavy in large loans made by banks and other financial institutions, though lending standards have improved. The Federal Reserve and other agencies cite increasing risks in loans to oil and gas producers as oil prices have fallen. The steep decline in oil prices has hurt many energy companies. ... Read More »

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Eurozone likely to get more stimulus as growth halves

By Pan Pylas, The Associated Press on July 29th, 2016

LONDON – It seems that the strong start to the year was another false dawn for the eurozone economy and that the European Central Bank will have more to do in the months ahead to shore up growth. New figures released Friday confirmed that the eurozone, which is made up of 19 countries from Ireland ... Read More »

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Imperial Oil posts $181M loss tied to Alberta wildfires, revenue falls 14%

By The Canadian Press on July 29th, 2016

CALGARY – Imperial Oil had a $181-million loss in its second quarter, mostly due to the wildfires that raged through northern Alberta in May, sparking a massive evacuation and curtailing oilsands production. The Calgary-based company (TSX:IMO) says the wildfires accounted for $170 million of the reduction in its net income from last year’s second quarter, ... Read More »

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Alberta fires torch economy, biggest monthly GDP decline in more than 7 years

By Andy Blatchford, The Canadian Press on July 29th, 2016

OTTAWA – The Alberta wildfires torched the Canadian economy in May, which saw the GDP contract by 0.6 per cent – the country’s deepest one-month decline in more than seven years. On Friday, Statistics Canada’s latest reading for real gross domestic product revealed the extent of the economic damage caused by the blaze that roared ... Read More »

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