November 29th, 2020

Business

Incoming CEO vows to carry on TC Energy strategy, stresses Keystone XL importance

By Dan Healing, The Canadian Press on November 17th, 2020

CALGARY – The incoming CEO of TC Energy Corp. says the pipeline, power and oil and gas storage company will adjust to pursue opportunities presented by the world’s energy transition but its conservative business strategy won’t change on his watch. Chief operating officer Francois Poirier, who is also president for power and storage and Mexican ... Read More »

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Torstar launches new parcel delivery service for Ontario retailers

By The Canadian Press on November 17th, 2020

TORONTO – The owner of the Toronto Star newspaper is getting into the parcel delivery business with a new courier service targeted at retailers. Torstar Corp. says it has launched Metroland Parcel Services in a bid to help Ontario businesses get packages to consumers in a fast and cost-effective way. The company says the service ... Read More »

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Industrial production up 1.1% in October, but still lagging

By Matt Ott, The Associated Press on November 17th, 2020

SILVER SPRING, Md. – U.S. industrial production rose 1.1% in October, recovering much of the spring decline caused by the virus pandemic. It was a rebound after a downturn in September, but production still remains below pre-pandemic levels, the Federal Reserve reported Tuesday. The rise was slightly better than the 1% analysts were expecting and ... Read More »

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North American stock markets down in early trading, loonie edges lower

By The Canadian Press on November 17th, 2020

TORONTO – Canada’s main stock index fell with broad-based weakness in early trading, including losses in the key financial, industrial and metal and mining sectors, while U.S. stock markets also lost ground. The S&P/TSX composite index was down 89.16 points at 16,800.65. In New York, the Dow Jones industrial average was down 330.79 points at ... Read More »

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Indigenous group Natural Law Energy inks deal with TC Energy to invest in Keystone XL

By The Canadian Press on November 17th, 2020

CALGARY – TC Energy Corp. says it has signed a deal to allow Indigenous group Natural Law Energy to invest up to $1 billion in the Keystone XL pipeline project. Natural Law Energy represents four First Nations in Alberta and one in Saskatchewan. The investment is contingent on NLE securing financing and is expected to ... Read More »

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US industrial production jumps 1.1% in October

By Matt Ott, The Associated Press on November 17th, 2020

SILVER SPRING, Md. – U.S. industrial production rose 1.1% in October, recovering much of the spring decline caused by the virus pandemic. Production rebounded after a downturn in September, but still remains below pre-pandemic levels, the Federal Reserve reported Tuesday. A key category that reflects manufacturing output rose 1%. In October, industry operated at 72.8% ... Read More »

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Statistics Canada says wholesale sales rose 0.9 per cent in September

By The Canadian Press on November 17th, 2020

OTTAWA – Statistics Canada says wholesale sales rose 0.9 per cent to $66.2 billion in September, boosted by gains in the food, beverage and tobacco and the personal and household goods subsectors. Economists on average had expected an increase of 0.4 per cent, according to financial data firm Refinitiv. Sales in the food, beverage and ... Read More »

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CMHC says annual pace of housing starts climbed higher in October

By The Canadian Press on November 17th, 2020

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts increased in October. The national housing agency says the seasonally adjusted annual rate of housing starts rose to 214,875 units last month compared with 208,715 in September. Economists surveyed by financial data firm Refinitiv had on average expected an annual rate ... Read More »

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George Weston increases quarterly dividend, reports $303M Q3 profit

By The Canadian Press on November 17th, 2020

TORONTO – George Weston Ltd. raised its dividend as it reported its latest quarterly results. The company, which operates through Loblaw, Choice Properties and Weston Foods, says its quarterly dividend will be increased to 55 cents per share, up from 52.5 cents per share. In its quarterly report, George Weston says it earned a profit ... Read More »

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As the COVID-19 crisis cuts jobs, Canadians cash in on hobbies with ‘side hustles’

By Adina Bresge, The Canadian Press on November 17th, 2020

TORONTO – For Chelsea Hearty and Ian Moores, the recipe for success began with a midnight snack. When the COVID-19 pandemic hit in March, Hearty and Moores, who had worked in food and hospitality, were among the hundreds of thousands of workers who found themselves out of a job and with little to do during ... Read More »

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‘Flying off the shelves’: Toys likely bright spot amid muted holiday retail season

By Brett Bundale, The Canadian Press on November 17th, 2020

HALIFAX – In a year plagued by a deadly virus, closures and cancellations, parents are eager to give their kids a Christmas like, well, every other. Overall holiday spending is expected to be muted as the second wave of COVID-19 worsens, causing ongoing economic uncertainty and tighter travel and gathering restrictions. One report from Deloitte ... Read More »

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