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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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Ontario enlarged loans to unions so they could buy more shares in hot Hydro One Inc IPO


On a day when the overall Canadian equity market fell 0.75 per cent, Thursday proved a rewarding first day in public trading for shareholders in Hydro One Inc., with the beneficiaries of the 5.5 per cent jump including the Power Workers’ Union (PWU) and the Society of Energy Professionals (SEP). …

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Shell says carbon storage without government help would be ‘quite a challenge’


Royal Dutch Shell Plc. unveiled a $1.3-billion carbon capture storage project in Fort Saskatchewan, Alta. on Friday, but said future such efforts to curb greenhouse gases will continue to need financial support from governments. The governments of Alberta and Canada contributed $745 million and $120 million, respectively, to build the …

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Kinross Gold Corp upbeat on latest plan to expand troubled Tasiast mine


Kinross Gold Corp. said Tuesday it is “encouraged” by its latest effort to expand the money-losing Tasiast mine in Mauritania, a project that has been plagued with problems since it was acquired. The Toronto-based miner said it is studying a two-phased expansion of the troubled mine in order to make …

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Bankers say cyber security and disruption by new technologies top list of emerging risks


Cyber security and disruption by new technologies top the list of emerging risk concerns for financial institutions, according to a poll of senior risk executives and directors by Global Risk Institute. Eighty-three per cent of those polled during a conference in Toronto said Canadian financial institutions are vulnerable to technological …

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Canadian Natural Resources Ltd asset sale seen as mostly positive


Canadian Natural Resources Ltd. rarely sells assets, so the deal to hand over most of its royalty lands to PrairieSky Royalty Ltd. in exchange for $1.8 billion in cash and stock marks somewhat of a strategic departure. Canadian Natural also doesn’t appear to have ever held a material stake in …

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Silver Wheaton’s Bernardi at centre of streaming finance market


2015 Western CGCA — Deal Making Curt Bernardi has tapped into the deal mother load at Silver Wheaton Corp., thanks to the streaming finance market. Bernardi, recipient of the Deal Making honour at the 2015 Western Canada General Counsel Awards, joined Silver Wheaton at the right time in 2008. Silver …

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Three Canadian pensions to pay US$2.8 billion for operator of Chicago Skyway toll road


A consortium of the Canada Pension Plan Investment Board, OMERS, and the Ontario Teachers’ Pension Plan have struck a US$2.8 billion deal to acquire Skyway Concession Company LLC, which operates the Chicago Skyway toll road. Each pension will own a 33.33 per cent interest, and contribute an equity investment of about …

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TransCanada Corp wins contract to build US$500-million natural gas pipeline in Mexico


CALGARY — TransCanada Corp. has won a contract to build, own and operate a US$500-million natural gas pipeline for Mexico’s state-owned power company. Calgary-based TransCanada says the Tuxpan-Tula Pipeline will help meet Mexico’s increasing demand for natural gas as the country shifts to the cleaner-burning fuel. The company says the …

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Western coalition to ramp up attack on ISIL’s key oil revenues: ‘The gloves are off’


Weeks before ISIS unleashed its fury on Paris, the Western coalition’s Operation Tidal Wave II had already ramped up its attack on oilfields controlled by the terrorist group in Iraq and Syria. How Saudi Arabia’s high-risk oil gambit could destroy OPEC while feeding the ISIL monster The rumblings of revolt …

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