March 20th, 2019

Business

Energy weighs on stocks in Toronto as index falls, U.S. stock markets down

By The Canadian Press on March 8th, 2019

TORONTO – Losses in the energy sector weighed on Canada’s main stock index in late-morning trading as the price of oil moved lower and Norway’s $1-trillion wealth fund starting selling its shares in oil and gas companies. The S&P/TSX composite index was down 96.46 points at 15,960.05. In New York, the Dow Jones industrial average ... Read More »

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Norway’s US$1 trillion fund to dump oil and gas shares, including Canadian names

By Mark Lewis, The Associated Press on March 8th, 2019

STAVANGER, Norway – Norway’s US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Chevron. The move was hailed by environmental activists as a sign that the global economy is ... Read More »

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Chelsea Manning jailed for refusing to testify on Wikileaks

By The Associated Press on March 8th, 2019

ALEXANDRIA, Va. – Former Army intelligence analyst Chelsea Manning has been jailed for refusing to testify to a grand jury investigating Wikileaks. U.S. District Judge Claude Hilton ordered Manning to jail Friday after a brief hearing in which Manning confirmed she has no intention of testifying. She told the judge she “will accept whatever you ... Read More »

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Line 3 pipeline delays make oilsands expansion unlikely, MEG Energy says

By The Canadian Press on March 8th, 2019

CALGARY – The CEO of MEG Energy Corp. says a one-year delay in Enbridge Inc.’s Line 3 pipeline replacement project makes it highly unlikely it will approve an option to spend about $75 million to complete an expansion of its Christina Lake oilsands project in northern Alberta. Derek Evans says about 60 per cent of ... Read More »

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Here’s a quick glance at unemployment rates for February, by province

By The Canadian Press on March 8th, 2019

OTTAWA – Canada’s national unemployment rate was 5.8 per cent in February. Here are the jobless rates last month by province (numbers from the previous month in brackets): – Newfoundland and Labrador 11.8 per cent (11.4) – Prince Edward Island 10.3 (9.9) – Nova Scotia 6.4 (6.9) – New Brunswick 8.5 (8.2) – Quebec 5.3 ... Read More »

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Here’s a quick glance at unemployment rates for February, by Canadian city

By The Canadian Press on March 8th, 2019

OTTAWA – The national unemployment rate was 5.8 per cent in February. Statistics Canada also released seasonally adjusted, three-month moving average unemployment rates for major cities. It cautions, however, that the figures may fluctuate widely because they are based on small statistical samples. Here are the jobless rates last month by city (numbers from the ... Read More »

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National employment numbers for February from Statistics Canada, at a glance

By The Canadian Press on March 8th, 2019

OTTAWA – A quick look at February employment (numbers from the previous month in brackets): Unemployment rate: 5.8 per cent (5.8) Employment rate: 62.0 per cent (61.8) Participation rate: 65.8 per cent (65.6) Number unemployed: 1,161,300 (1,162,000) Number working: 18,929,800 (18,873,900) Youth (15-24 years) unemployment rate: 10.8 per cent (11.2) Men (25 plus) unemployment rate: ... Read More »

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Canada sees second straight monthly employment surge with 55,900 net new jobs

By The Canadian Press on March 8th, 2019

OTTAWA – The labour market generated a second straight month of strong job gains in February with the creation of 55,900 net new positions, all of which were full time. The latest jobs report by Statistics Canada says the unemployment rate held firm last month at 5.8 per cent as more people hunted for work. ... Read More »

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CMHC reports annual pace of housing starts slowed in February

By The Canadian Press on March 8th, 2019

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in February slowed compared with January. The housing agency says the seasonally adjusted annual rate of housing starts fell to 173,153 units in February compared with 206,809 units the month before. Economists had expected an annual pace of 205,000, according to ... Read More »

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Ontario government gives OK to new executive pay plan at Hydro One Ltd.

By The Canadian Press on March 8th, 2019

TORONTO – The Ontario government has signed off on a new executive pay plan set out by Hydro One Ltd. Under the proposed framework, the utility will pay its chief executive a maximum of $1.5 million a year in direct compensation, with a base salary of no more than $500,000. Short-term and long-term incentives are ... Read More »

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Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail

By The Canadian Press on March 7th, 2019

CALGARY – Oilsands producer MEG Energy says it has doubled its crude-by-rail shipments and will double them again to maximize prices in view of insufficient pipeline export capacity from Western Canada. The Calgary-based company says steep discounts for the bitumen it produces at its northern Alberta steam-driven project resulted in a net loss of $199 ... Read More »

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