November 29th, 2020

Business

Liberals shouldn’t jettison spending restraints because of pandemic, former PBO says

By The Canadian Press on November 18th, 2020

OTTAWA – Canada’s first parliamentary budget watchdog says there are ways for the federal government to impose some discipline on its upcoming spending plans to keep the deficit from spiralling out of control. Kevin Page makes the argument in a paper today that the government should move away from spending to stimulate the economy as ... Read More »

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Enbridge Gas to blend hydrogen with natural gas for consumers in Markham, Ont.

By The Canadian Press on November 18th, 2020

CALGARY – Consumers in the Markham area of southern Ontario will soon be receiving a little hydrogen to go with the natural gas they use to fuel their furnaces and hot water heaters. Enbridge Gas and partner Cummins Inc. say they will proceed with a $5.2-million pilot project next year to blend hydrogen from their ... Read More »

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Andrea Benoit wins National Business Book Award for look at beauty brand benevolence

By The Canadian Press on November 18th, 2020

TORONTO – Media studies researcher Andrea Benoit is the winner of this year’s National Business Book Award. The doctoral candidate at Western University received the $30,000 honour for her look at corporate philanthropy in the cosmetics industry. Published by University of Toronto Press, “Viva MAC: AIDS, Fashion, and the Philanthropic Practices of MAC Cosmetics” recounts ... Read More »

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Wood pellet firm Peak Renewables buys Canfor forest tenure, idled mills in for Nelson

By The Canadian Press on November 18th, 2020

CALGARY – The CEO of wood pellet maker Peak Renewables says deals to buy forest tenure and mill assets in the Fort Nelson area of northeastern B.C. from Canfor Corp. are part of its plan to build a new 600,000-tonne-per-year pellet plant there. Canfor announced on Tuesday it had sold its forest tenure in the ... Read More »

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UK insurance firm RSA agrees to takeover offer from Intact and Tryg

By Tara Deschamps, The Canadian Press on November 18th, 2020

TORONTO – One of the U.K.’s oldest insurance companies is getting two new owners and one of them is Canadian. RSA Insurance announced Wednesday that it is being taken over by Toronto-based insurer Intact Financial Group and Denmark’s Tryg in a cash transaction worth about $12.3 billion or 685 pence per share – a 51 ... Read More »

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Ottawa delays small nuclear reactor plan as critics decry push for new reactors

By Colin Perkel, The Canadian Press on November 18th, 2020

TORONTO – Canadians will have to wait a little while longer to see the federal government’s plan for the development of small nuclear reactors, seen by proponents as critical to the country’s fight against global warming. Speaking at the opening of a two-day virtual international conference on Wednesday, the parliamentary secretary to the minister of ... Read More »

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NDP raises more questions about Morneau, WE in letter to ethics watchdog

By The Canadian Press on November 18th, 2020

OTTAWA – NDP ethics critic Charlie Angus is asking the federal ethics commissioner to consider new questions about the relationship between former finance minister Bill Morneau and WE Charity. In a letter to commissioner Mario Dion, Angus says Morneau may have broken rules around conflict of interest and preferential treatment in allegedly green-lighting a $12-million ... Read More »

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Sales surge at Lowe’s as the homebound take on more projects

By Michelle Chapman, The Associated Press on November 18th, 2020

Lowe’s sales surged in the third quarter more people took on projects at home during the epidemic. Shares, however, slumped before the opening bell Wednesday on an outlook that some saw as pessimistic. Revenue increased to $22.3 billion from $17.4 billion a year ago. That beat the $21.08 billion that analysts surveyed by Zacks Investment ... Read More »

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Energy and financials lift Toronto stock market, U.S. stock markets mixed

By The Canadian Press on November 18th, 2020

TORONTO – Strength in the energy and financial sectors offset losses in the telecom and utility sectors to help lift Canada’s main stock index in late-morning trading, , while U.S. stock markets were mixed. The S&P/TSX composite index was up 38.73 points at 16,986.79. In New York, the Dow Jones industrial average was up 134.36 ... Read More »

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Rogers Media cancels local Breakfast Television shows in Calgary and Vancouver

By The Canadian Press on November 18th, 2020

TORONTO – Rogers Media is laying off several of its on-air personnel and others as it cancels the current versions of Breakfast Television shows in Calgary and Vancouver. A statement from the company says “a small percentage” of its staff across the country will be leaving Rogers Sports and Media. It didn’t comment on individual ... Read More »

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Drilling forecast calls for 14 per cent rebound in 2021 from depths of 2020 activity

By The Canadian Press on November 18th, 2020

CALGARY – The organization that represents Canadian drilling contractors is forecasting a 14 per cent increase in the number of oil and gas wells to be drilled in Canada in 2021 compared with the historic lows this year. The Canadian Association of Oilwell Drilling Contractors says it expects 3,771 wells to be drilled next year, ... Read More »

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