December 15th, 2018

Business

Suncor warns forced provincial oil cutbacks pose safety, operational risks

By Dan Healing, The Canadian Press on December 14th, 2018

CALGARY – Forced Alberta government crude oil production cuts next year will result in “unintended consequences” that could include increased safety hazards for its employees, Suncor Energy Inc. warned Friday. Despite the cuts that begin Jan. 1, Canada’s largest integrated oil and gas company forecasts production will grow by 10 per cent in 2019 on ... Read More »

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May aims to rescue Brexit plan; EU says ball’s in UK’s court

By Jill Lawlesss And Lorne Cook, The Associated Press on December 14th, 2018

BRUSSELS – British Prime Minister Theresa May launched a rescue mission for her ailing Brexit deal Friday, after the European Union rebuffed her request to sweeten the divorce agreement so she can win over hostile lawmakers at home. EU leaders meeting in Brussels showed little appetite to resolve May’s Brexit impasse for her, saying the ... Read More »

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Lower-than-expected parcel volumes helping cut into backlog, says Canada Post

By The Canadian Press on December 14th, 2018

OTTAWA – With a little over a week before Christmas, Canada Post says it is starting to catch up on parcel deliveries that have been delayed by rotating strikes over the past two months. The Crown corporation says that’s largely because it is taking in fewer holiday parcels than expected. At the same time, however, ... Read More »

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Toronto stock market down amid lower oil prices; U.S. markets fall

By The Canadian Press on December 14th, 2018

TORONTO – Canada’s main stock index stepped lower in late-morning trading as the energy sector lost ground amid lower oil and natural gas prices. The S&P/TSX composite index was down 66.85 points at 14,683.50. In New York, the Dow Jones industrial average was down 307.61 points at 24,289.77. The S&P 500 index was down 24.95 ... Read More »

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Canada Goose delays Beijing store opening because of construction

By The Canadian Press on December 14th, 2018

TORONTO – Canada Goose Inc. says the opening of its Beijing store has been delayed. The Toronto-based luxury parka maker says in a statement to The Canadian Press that the delay is due to ongoing construction. The company has not said when the store will open, but is promising to update consumers as soon as ... Read More »

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GM working to retrain employees affected by Oshawa plant closure

By The Canadian Press on December 14th, 2018

OSHAWA, Ont. – General Motors of Canada says it’s working with other employers to identify jobs and targeted training programs for GM employees affected by the closure of the Oshawa Assembly plant next year. It says several employers have identified about 2,000 jobs that will become open in Durham region in 2019 and 2020. In ... Read More »

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Suncor plans 10% production increase for 2019, holds capex spending steady

By The Canadian Press on December 14th, 2018

CALGARY – Suncor Energy Inc. is planning to grow production by about 10 per cent, even after Alberta’s mandatory production curtailments. The company says it expects average upstream production of 780,000 to 820,000 barrels of oil equivalent per day, up from about 730,000 boepd this year. Suncor says its guidance assumes the curtailments are in ... Read More »

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UK’s May sticks to her Brexit plan despite rebuff from EU

By Lorne Cook And Jill Lawless, The Associated Press on December 14th, 2018

BRUSSELS – British Prime Minister Theresa May insisted Friday that her Brexit deal was still alive and kicking, despite a stinging rebuff from the European Union after she asked for changes to make the agreement more palatable to U.K. lawmakers. May came to an EU summit in Brussels seeking legally binding changes to the agreement, ... Read More »

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Spanish prosecutors file tax evasion charges against Shakira

By The Associated Press on December 14th, 2018

MADRID – Spanish prosecutors are charging pop music star Shakira with tax evasion, alleging she failed to pay more than 14.5 million euros ($16.3 million) between 2012 and 2014. The charges Friday allege Shakira listed the Bahamas as her official residence for tax purposes during those years but was in fact living in Spain with ... Read More »

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Statistics Canada reports key debt ratio ticked higher in third quarter

By The Canadian Press on December 14th, 2018

OTTAWA – The amount Canadians owe relative to their income ticked higher in third quarter. Statistics Canada says household credit market debt as a proportion of disposable income was 177.5 per cent in the third quarter on a seasonally-adjusted basis. That compared with 177.4 per cent in the second quarter. In other words, Canadians owed ... Read More »

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EU leaders vow to press on with ‘no-deal’ Brexit plans

By Lorne Cook And Jill Lawless, The Associated Press on December 14th, 2018

BRUSSELS – European Union leaders expressed deep doubts Friday that British Prime Minister Theresa May can live up to her side of their Brexit agreement and they vowed to step up preparations for a potentially-catastrophic “no-deal” scenario. May cancelled a Brexit vote in the U.K. Parliament this week after it became clear the assembly would ... Read More »

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