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OPEC crisis meeting looms as oil plunges to $35 and nerves begin to fray


The OPEC oil cartel will be forced to call an emergency meeting within weeks to stabilize the market if crude prices fail to rebound after crashing to eight-year lows of $35 a barrel, two member states have warned. Never mind $35 a barrel, Canada's oil is selling for closer to …

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U.S. real estate firm reaches into Canada: Savills Studley acquires Real Facilities


One of the large U.S. real estate firms focusing solely on tenants is moving into the Canadian market. Savills Studley is set to announce Monday that it has acquired Toronto-based Real Facilities for an undisclosed amount. The new Toronto office will continue to provide tenant representation, transaction management, capital markets, project …

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Bank of Nova Scotia taps central bank veteran Jean-Francois Perrault as chief economist


Bank of Nova Scotia hired Jean-Francois Perrault, a veteran of the Bank of Canada and the country’s finance department, as chief economist to replace Warren Jestin, who is retiring. Perrault had also previously held posts at the International Monetary Fund and the World Bank, according to a statement. “Jean-François’s in-depth …

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Oil to stay below $50 for two years, while other commodities rebound, Scotiabank says


CALGARY – As benchmark oil prices tumbled to new 11-year lows on Monday, a new report painted a grim picture of the outlook for energy prices next year and 2017. How can Canada make money when it's selling the cheapest oil in the world? The oil collapse that pushed crude …

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CPPIB and Goodman Group boost equity commitment by US$1.25 billion to logistics partnership in China


The Canada Pension Plan Investment Board and Goodman Group boosted their equity allocation to the Goodman China Logistics Partnership, which owns and develops logistics assets in Mainland China, by US$1.25 billion. The pension giant committed 80 per cent, or $1 billion, in keeping with the equity structure of the partnership …

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How Canadian Tire is grappling with the economics of e-commerce


Technology can be both a blessing and a curse for traditional retailers. The hottest toy you can’t buy in stores! How Shopify is powering a retail revolution Behind the scenes, a Canadian company is helping small merchants willing to fill the void left by the likes of Walmart Inc. and …

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At $22, three quarters of oilsands production is underwater and losing up to $3 on every barrel


CALGARY — U.S. crude’s slide to US$35 a barrel this week has left many Canadian oilsands producers selling their oil at a loss, with some analysts predicting even more pain in 2016. Never mind $35 a barrel, Canada’s oil is selling for closer to $20 As oil crashes through $35 …

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Brain drain threatens Canada’s dominance in artificial intelligence: ‘We are losing our top talent’


With a tech industry one-third the size of California’s, Canada has confounded expectations by becoming a leader in the booming market for artificial intelligence. Pioneering technologies developed in Canadian labs can be found in Facebook’s facial recognition algorithms, Google’s Photos app, smartphone voice recognition and even Japanese robots. Now Canada …

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Bombardier Inc CSeries jet gets green light for service from Transport Canada


MIRABEL, Que. — After delays and cost overruns, Bombardier’s US$5.4-billion CSeries passenger jet has been given the green light to enter into commercial service. The largest plane built by the Montreal-based manufacturer was formally certified on Friday by Transport Canada. Transport Minister Marc Garneau announced the go-ahead during a news …

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Innovation, efficiency the new mantra for manufacturers as they await sustained recovery


OTTAWA — Ever since the recession — the big one in 2008-09, not the mini-downturn of 2015 — manufacturers have been wishing and hoping for a big turnaround in their sector. Canada’s economy unexpectedly stalls, setting uncertain tone for end of the year Growth in Canada’s economy was flat in …

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