Home / Financial News

Financial News

Natural gas producers’ profits will sink to worst loss since 2009, Conference Board warns


CALGARY – The Canadian natural gas industry is expected to post its worst collective loss since 2009 this year, a new report from the Conference Board of Canada predicts, the result of both the fall in natural gas prices and the price collapse for related commodities such as propane and …

Read More »

Marriott’s $12.2-billion takeover of Starwood Hotels will help it dominate Canada


TORONTO — Marriott International Inc.’s US$12.2-billion takeover of Starwood Hotels and Resorts Worldwide will not only create the world’s largest lodging company but give it majority control of some Canadian markets, says an industry consultant group. According to Lyle Hall, managing director of Toronto-based HLT Advisory Inc., it’s not out of …

Read More »

Farewell Goldman Sachs, hello Uber: How the tech world is raiding Wall Street talent


NEW YORK/SAN FRANCISCO — Three mid-level bankers in Goldman Sachs Group Inc’s technology investment banking group in San Francisco have left to take positions at ride service company Uber Technologies Inc in recent months, people familiar with the matter told Reuters. ‘Masters of the universe’ no more: London traders’ champagne …

Read More »

‘This is not a jet’: Pratt & Whitney exec explains why CSeries is quieter than critics think


When politicians and activists talk about Porter Airlines’ plan to fly “jets” out of Toronto’s downtown airport, they show a fundamental misunderstanding of the technology on Bombardier Inc.’s CSeries aircraft, according to the executive who developed the plane’s engine. Ottawa says ‘no’ to jets at Toronto island airport, dealing blow …

Read More »

TransAlta Renewables gets $200M investment from Alberta fund manager AIMCo


CALGARY – Alberta’s provincially owned investment management company bought a $200-million stake in a local renewable power provider Monday, the day after the province announced it would phase out coal-fired electricity generation. Alberta Investment Management Corp., which manages more than $75-billion worth of investments from the province’s government pension funds, …

Read More »

Canadian economy rebounding amid adjustment to low commodity prices: Bank of Canada’s Patterson


Canada is adjusting to the damage from lower commodity prices and the economy will use up its idle capacity to produce more goods by mid-2017, a central bank policy maker said Tuesday. Lower interest rates and a weaker Canadian dollar are helping with the adjustment, Bank of Canada Deputy Governor …

Read More »

Caisse de depot part of consortium spending $9.9 billion to invest in Australian electricity network


MONTREAL — The Quebec pension plan is part of a consortium that is spending $9.9 billion to acquire a 99-year lease for TransGrid, the owner and operator of the electricity transmission network in New South Wales in Australia. The network spans close to 13,000 kilometres and serves Sydney and Canberra, …

Read More »

Two SPACs remain in limbo for the time being


For the time being at least the score will remain 5-2. We are referring, respectively, to the number of Special Purpose Acquisition Companies (SPACs) that have been formed and that have raised capital in Canada this year and the number that are in line to raise capital. It remains to …

Read More »

Get best Black Friday deals on your phone as Cyber Monday becomes obsolete


The last thing shoppers need is another name for their holiday binge; and yet here it is. First there was Black Friday. Then there was Cyber Monday. Now there’s Cyber Friday as the lines blur between online and traditional shopping in a weekend of frenzied consumption. Black Friday or Boxing …

Read More »

Couche-Tard to buy Ireland’s Topaz in addition to European convenience store network


MONTREAL — The company that owns Mac’s and Couche-Tard stores is making further advances in Europe with the acquisition of Ireland’s leading operator of gas bar and convenience store stations. The Quebec-based company says it has an agreement to buy the Topaz chain for an undisclosed price. Couche-Tard says Topaz …

Read More »