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Enbridge Inc cuts 500 staff, about 5% of workforce, amid collapse in oil prices


CALGARY – Canada’s largest pipeline company Enbridge Inc. confirmed it laid off 500 people on Monday and will not be hiring for an additional 100 unfilled positions. The layoffs represent about five per cent of the company’s total workforce and are spread across Enbridge’s operations in Canada and the U.S. …

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More layoffs to come in drilling sector, as activity levels to remain low in 2016


CALGARY – Canada’s drilling industry is expected to post its worst year in more than three decades in 2016 with more layoffs and a record number of idled rigs. “We are predicting one of the lowest utilization rates of our equipment since we started collecting this information in 1977,” Canadian …

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Western coalition to ramp up attack on ISIL’s key oil revenues: ‘The gloves are off’


Weeks before ISIS unleashed its fury on Paris, the Western coalition’s Operation Tidal Wave II had already ramped up its attack on oilfields controlled by the terrorist group in Iraq and Syria. How Saudi Arabia’s high-risk oil gambit could destroy OPEC while feeding the ISIL monster The rumblings of revolt …

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TransCanada Corp pulls Keystone XL application in Nebraska after Obama rejection


TransCanada Corp. is withdrawing its application with Nebraska regulators for approval of the Keystone XL pipeline, less than two weeks after President Barack Obama rejected the project. The Calgary-based company said it’s inappropriate for the Nebraska Public Service Commission to move forward with a review of the route in the …

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Bombardier Inc agrees to sell 20 Challenger 350 business jets to Flexjet in US$544-million deal


LAS VEGAS — Bombardier Inc said on Tuesday it has agreed to sell 20 of its Challenger 350 business jets to Flexjet LLC, in a deal valued at about $544 million based on list prices of the planes. Flexjet, which has signed a memorandum of understanding with Bombardier, is owned …

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Canadian beef producers expecting to double, even triple exports to Japan thanks to TPP


OTTAWA — After years stuck in the doldrums, Canadian beef exporters finally see opportunity for growth. Thanks to the Trans-Pacific Partnership, they say their exports to Japan could double, or even triple, after years of trade difficulties imposed, in part, by Canadian mad-cow scares. Trans-Pacific Partnership: Full text — Here’s …

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Food sales lift the bottom lines of Loblaw Companies Ltd and Metro Inc


Metro Inc. and rival Loblaw Cos. Ltd. beat industry analysts’ projections for quarterly earnings Wednesday as the large grocery retailers benefited from stronger food sales, though the latter warned drug regulatory changes will weigh on its pharmacy business for the remainder of the year. Both retailers saw their shares rise …

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How Saudi Arabia’s high-risk oil gambit could destroy OPEC while feeding the ISIL monster


LONDON – The rumblings of revolt against Saudi Arabia and the OPEC Gulf states are growing louder as half a trillion dollars goes up in smoke, and each month fails to bring about the long-awaited killer blow against U.S. shale. How OPEC has earned itself a permanent pay cut in …

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Riots destroy Canadian mine in Mozambique, Pacific Wildcat Resources’ second project to face trouble


TORONTO — Rioters have destroyed a Canadian-owned tantalum mine in Mozambique, injuring security officers and setting fire to the site, the company says. Pacific Wildcat Resources, in a press release issued late last week, said company representatives had fled its Muiane mine to the city of Nampula, around 120 kilometres …

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AGF enters world of ETFs with purchase of Boston-based FFCM


A few weeks back CI Financial made its first steps into the world of exchange traded funds when it acquired First Asset Capital Corp., a firm with about $3 billion under management, half of which were in ETFs. Tuesday AGF Management Limited announced that it acquired the majority of the …

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