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Long-time Bay Streeter Bill Morneau brings rich experience to Canada’s top finance post


OTTAWA — When it comes to finance ministers, Canada’s new budget czar is no small potatoes. A millionaire many times over, Bill Morneau — until now a hugely successful businessman and adviser to people in high places — is, by all accounts, a very smart guy, who is also married …

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A CEO, but not exactly a Bay Street guy: Bill Morneau’s path to becoming Canada’s finance minister


TORONTO • In their 2013 book The Real Retirement, authors Bill Morneau and Fred Vettese muse about changes in our view of what it means to be poor. “One of the authors of this book,” they write, “was raised in Toronto and enjoyed a happy and healthy childhood. There is little …

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Liberals’ new cabinet more eco-friendly than oil-friendly


Huge expectations await Canada’s new environment and natural resources ministers, who will have to hit the ground running to deliver on Prime Minister Justin Trudeau’s climate change and environment priorities so bitumen pipelines can move forward. Ottawa Centre MP and lawyer Catherine McKenna is heading the environment and climate change …

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Obama betrayed America’s closest ally over Keystone XL to prop up climate change legacy


Canadians of every political persuasion should be dismayed by U.S. President Barack Obama’s cowardly rejection of the Keystone XL pipeline. After seven years of review involving massive documentation, scientific justification and some $3 billion in spending by proponent TransCanada Corp., Obama offered weak and questionable reasons Friday for the denial. …

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Enbridge Inc reports $609-million loss as charges, Line 9 pipeline delay take toll


Enbridge Inc. reported a loss in the third quarter as one-time charges and a delay in startup of a pipeline to Eastern Canada dragged on earnings. Canada’s largest pipeline company reported net loss of $609 million (US$463 million), or 72 cents a share, compared with a loss of $80 million, …

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Odds of Fed hike in December just jumped to 72% after massive U.S. jobs report


U.S. employment snapped back with a vengeance in October, wage growth accelerated and the jobless rate fell to 5 per cent, boosting the odds that Federal Reserve policy makers will raise borrowing costs next month. The 271,000 gain in payrolls was the biggest this year and exceeded all estimates in …

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Canadian Natural Resources cuts budget, staff salaries amid Q3 loss


CALGARY – Canadian Natural Resources Ltd., Canada’s largest volume producer of oil and gas, has cut its capital budget for the fifth time this year as executives said the company faces multiple challenges, including an Alberta government royalty review, in budgeting for next year. But president Steve Laut said he …

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Canada still outpacing China in trade with the U.S., but only barely


OTTAWA — Yes, there’s an unstoppable chain of Chinese freighters headed toward the U.S. coastline. And U.S. goods are just as speedily going in the other direction. But don’t count Canada out of the race for trade just yet — even if it could be losing the most cherished trader status …

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Air Canada third-quarter profit beats estimates as fuel costs ease


Air Canada reported third-quarter profit that beat analysts’ estimates as fuel costs decreased and revenue rose during the carrier’s busiest travel season. Adjusted earnings increased to $2.50 a share from $1.55 a year earlier, topping the $2.20 average of 12 analyst estimates compiled by Bloomberg. Revenue of $4.02 billion exceeded …

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Slamming Obama’s Keystone decision on Twitter


Everybody seems to have an opinion about President Obama’s decision to kill the Keystone XL pipeline by rejecting TransCanada Corp.’s application. Here are some of the more notable and amusing tweets. The billionaire energy guru… From start to finish, President @BarackObama handling of #KeystoneXL pipeline is a national embarrassment & …

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