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Renewed oil price rout makes Suncor Energy’s hostile takeover bid for Canadian Oil Sands difficult to predict

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CALGARY – The renewed fall in oil prices is making it difficult to predict the outcome of Suncor Energy Inc.’s hostile takeover offer for Canadian Oil Sands Ltd. “The change in the oil price makes this an interesting poll to call,” Brendan Wood International managing director Jordan Novak said in …

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Grocery and restaurant costs to gobble up your budget next year, study says

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GUELPH, Ont. — A new report says the average household in Canada will spend $8,631 on groceries and restaurant meals next year, up by $345 because of food inflation. The University of Guelph’s latest forecast estimates that food inflation could be between two and four per cent in 2016 — …

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Chipotle restaurant shut down in Seattle for food-safety violations, adding to woes after E. coli outbreak

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A Chipotle restaurant in Seattle was shut down for repeated food-safety violations, bringing a fresh headache to a chain reeling from norovirus and E. coli outbreaks. The public-health department for Seattle and King County closed the restaurant, which was located in the city’s South Lake Union neighborhood, according to a …

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B.C. oil commission confirms 4.6-magnitude earthquake in August caused by fracking

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FORT ST. JOHN, B.C. — The British Columbia Oil and Gas Commission has confirmed that fracking caused a 4.6-magnitude earthquake in August — the largest linked to the industry in the province to date. The commission says an investigation has determined that the Aug. 17 quake in northeastern B.C. was …

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Billionaire investor Seymour Shulich says he would support a sweetened offer for Canadian Oil Sands Ltd

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CALGARY – The most outspoken opponent of Suncor Energy Inc.’s hostile takeover offer for Canadian Oil Sands Ltd. says he’d be willing to make a deal. Canadian billionaire investor Seymour Schulich, who initially called Suncor’s $4.5 billion offer for COS “ridiculous,” said he and potentially others in his group of …

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RBC offers customers double reward points and $20 off first ride with Uber

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RBC credit card holders will get $20 off their first ride with Uber and earn double the rewards points, if they sign up for the app-based car service with an eligible RBC card, Canada’s largest bank said Tuesday. Avion credit cardholders and other RBC Rewards members who are already Uber …

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Moody’s places Suncor, Husky and other Canadian energy players on review for downgrade

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CALGARY – The continued oil price rout has caused ratings agency Moody’s Investors Service to review the credit of seven Canadian oil and gas companies, possibly downgrading their debt. The companies with debts placed under review for downgrade Wednesday include some of the largest energy players in Calgary: Suncor Energy …

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Scotiabank said to weigh bid for Dominincan Republic’s Progreso

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Bank of Nova Scotia, Canada’s third-largest lender by assets, is weighing a bid for Dominican Republic’s Banco Dominicano del Progreso SA, according to people familiar with the matter. Progreso has held early-stage informal talks with Toronto-based Scotiabank, said the people, who asked not to be identified because the matter is …

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A bleaker Canadian economy may be lurking below recent data

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OTTAWA — On the surface, Canada’s economy is displaying signs of returning — albeit in small steps — to some form of normalcy. Inflation has been making a mild and slow comeback in Canada, warming up after a period of ultra-low price gains that characterized much of the past year, …

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Oil hits lowest since 2004 with Goldman Sachs predicting $20 crude before we’re done

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LONDON — Brent crude prices hit their lowest in over 11 years on Monday, hounded by a relentless rise in global supply that looks set to outpace demand again next year. Oil production is running close to record highs and, with more barrels poised to enter the market from the …

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