Home / Market

Market

A bleaker Canadian economy may be lurking below recent data

1218morneau.jpg

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, …

Read More »

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

gasprice.jpg

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 …

Read More »

RioCan Real Estate Investment Trust is selling 49 American shopping malls to Blackstone Group

riocan.jpg

TORONTO — Canada’s largest real estate investment trust is selling off its U.S. portfolio and reaping close to $1 billion in profit with about half it coming from the sinking loonie. RioCan Real Estate Investment Trust said Friday it is selling its U.S. portfolio of 49 retail properties located in …

Read More »

Oil industry to lose 100,000 jobs by the end of 2015 as policy uncertainties, low prices decimate sector

1218oil.jpg

The oil and gas sector will see 100,000 job losses by the end of this year, including 40,000 direct jobs, as a combination of policy uncertainties and low crude oil prices decimates the sector, the head of the country’s oil and gas industry group says. Oilpatch survivors are suffering ‘burnout …

Read More »

Fission Uranium nears landmark $82-million investment from state-owned Chinese giant CGN Mining Company Ltd

1221fission.jpg

Fission Uranium Corp. is closing in on a landmark deal with a Chinese company that would represent China’s first direct investment into a Canadian uranium firm. ‘This one is special’: Fission Uranium’s monster resource estimate rekindles takeover chatter The monster resource estimate announced by Fission Uranium Corp. has boosted takeover …

Read More »

Valeant’s new CEO trio shows company has no clear successor while Michael Pearson on medical leave: analysts

valeant1.jpg

MONTREAL — Following a year of unpleasant surprises for Valeant Pharmaceuticals International Inc., on Monday the company announced chief executive Michael Pearson would take a leave of absence following his hospitalization last week with severe pneumonia. During his absence, Pearson’s duties will be split between three company executive vice-presidents. With few …

Read More »

Vermilion Energy Inc’s spending cuts praised by analysts

vermilion.jpg

Vermilion Energy Inc.’s decision to reduce its capex spending plans for 2016 to $285 million from a previous preliminary figure of $350 million is being welcomed by analysts, partly because it should shore up the Calgary-based oil and gas producer’s dividend. Macquarie analyst Chris Feltin noted that the company’s production …

Read More »

Aviva Canada develops first insurance policy for ride-sharing services like Uber

uber1.jpg

TORONTO • Aviva Canada Inc. has become the first auto insurer in Canada to develop a policy specifically for ride-sharing services, filling a gap in the market that has left many Uber drivers without proper coverage. The Toronto-based company announced Wednesday that it will begin providing auto insurance to drivers …

Read More »

Why homeowners and buyers can expect more mortgage rate hikes from the big banks

mortgages.jpg

Falling government-bond yields are usually good for homeowners in Canada because mortgage rates tend to follow suit. Not this time. Three of Canada’s biggest lenders have raised mortgage rates and more increases are expected as new regulations, a weak economy and higher costs prevent banks from capitalizing on lower borrowing …

Read More »

Crude prices are getting slammed, in wild day for oil market

wild-oil-day.jpg

Crude oil is getting slammed on Monday, with front-month contracts for Brent and West Texas Intermediate each down more than 6 per cent at their lows of the day. Meanwhile, Western Canadian Select, a heavier blend of crude, trades at US$16.32 per barrel. A supply response to lower prices continues …

Read More »