June 13th, 2021

Business

Met Opera $31M in black in 2019-20 as pandemic starts

By The Associated Press on June 10th, 2021

The Metropolitan Opera showed a tax return revealing it is $31 million in the black during the fiscal year that ended last July 31, but the company said the figure included mostly pledges for future years. The company’s tax return, released Thursday, showed revenue fell by $13 million for the season that included the initial ... Read More »

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North American stock markets rebound as investors undaunted by higher U.S. inflation

By The Canadian Press on June 10th, 2021

TORONTO – North American stock markets rebounded as investors seemed to shrug off news that U.S. inflation is accelerating at its fastest pace since the financial crisis in 2008. The S&P/TSX composite index closed up 47.20 points to 20,049.47. In New York, the Dow Jones industrial average was up 19.10 points at 34,466.24. The S&P ... Read More »

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Embattled Keystone XL pipeline continues to divide experts — even post-mortem

By The Canadian Press on June 10th, 2021

CALGARY – Even after its death, the divisive Keystone XL pipeline continues to leave Canadian energy industry experts at odds. While some suggest TC Energy Corp.’s cancellation of the project won’t impact global emissions, others says it’s a significant step in the fight against climate change. Dennis McConaghy, a retired oilpatch executive, calls the company’s ... Read More »

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Air Canada to recall 2,600 workers as demand for travel bounces back

By The Canadian Press on June 10th, 2021

MONTREAL – Air Canada says it will recall more than 2,600 employees as it prepares for an increase in demand for flights. The airline says the employees being recalled will include various roles, including flight attendants, and will be brought back in stages in June and July. Air Canada spokesman Peter Fitzpatrick says the airline ... Read More »

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Terra Nova oilfield shutdown could cost N.L. hundreds of millions of dollars

By The Canadian Press on June 10th, 2021

ST. JOHN’S, N.L. – Newfoundland and Labrador’s Energy Minister says the full shutdown of the dormant Terra Nova offshore oilfield could leave the province on the hook for hundreds of millions of dollars in royalty paybacks. Andrew Parsons told reporters today the province has offered the field’s operators nearly $500 million in incentives to get ... Read More »

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Digital shift cushioned blow to post-pandemic growth outlook, BoC deputy says

By The Canadian Press on June 10th, 2021

OTTAWA – A Bank of Canada official says the economy’s ability to grow coming out of the pandemic isn’t as hobbled by COVID-19 as the central bank first feared. Deputy governor Timothy Lane says that’s because the country quickly embraced digital tools such as videoconferencing for remote work and food delivery apps. He says that ... Read More »

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Border security workers to hold strike votes next week, jeopardizing border reopening

By The Canadian Press on June 10th, 2021

OTTAWA – A union representing 9,000 Canadian Border Service Agency personnel says Canada-U.S. border reopening plans are in jeopardy as their workers prepare for strike votes starting next week. The Public Service Alliance of Canada says 5,500 border services officers, 2,000 headquarters staff and other workers at Canada Post facilities and in inland enforcement jobs ... Read More »

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S&P/TSX composite up as oil tops US$70 a barrel, U.S. stock markets also climb higher

By The Canadian Press on June 10th, 2021

TORONTO – Canada’s main stock index was up in late-morning trading, helped by gains in the energy sector as the price of oil topped US$70 per barrel. The S&P/TSX composite index was up 22.25 points at 20,024.52. In New York, the Dow Jones industrial average was up 113.93 points at 34,561.07. The S&P 500 index ... Read More »

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Ontario unlikely to balance budget by 2030 despite post-pandemic growth: report

By The Canadian Press on June 10th, 2021

TORONTO – Ontario’s fiscal watchdog says the province’s economy will rebound over the next two years but the government is unlikely to reach its goal of a balanced budget by the start of the next decade. The Financial Accountability Office released a report on the province’s spring economic and budget outlook today, assessing the financial ... Read More »

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Supreme Cannabis shareholders vote to approve $435M deal with Canopy Growth

By The Canadian Press on June 10th, 2021

TORONTO – Supreme Cannabis shareholders have voted in favour of the company being sold to Canopy Growth Corp. for $435 million. Supreme did not immediately share how many shareholders voted in favour of the deal, but said it was supported by at least a two-thirds majority vote, which was needed for approval. The company says ... Read More »

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Scotiabank donates $2.5 M to Windmill Microlending to help skilled immigrant women

By The Canadian Press on June 10th, 2021

TORONTO – Scotiabank says it is donating $2.5 million to Windmill Microlending to help skilled immigrant women with career mentoring and financial support. Windmill Microlending is a not-for-profit working to address underemployment of internationally trained professionals. It offers loans up to $15,000 to pay for the credentials, licensing, training or professional development. Windmill Microlending CEO ... Read More »

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