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Alberta’s credit rating downgraded on concerns over rising debt

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CALGARY – Alberta Finance Minister Joe Ceci said Friday he is disappointed to see the province lose its top credit rating, but doesn’t expect the move will affect Alberta’s borrowing costs. “Obviously we are disappointed by today’s report, but the steep drop in the price of oil is hitting Alberta …

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Oil price collapse named Business Story of the Year for second year in a row

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CALGARY — The price of oil — and its far-reaching impact on the Canadian economy — has once again been voted The Canadian Press Business Story of the Year. np_storybar title=”Canada’s challenge is how to make money selling the world’s cheapest oil — but it can be done” link=”http://business.financialpost.com/news/energy/canadas-challenge-is-how-to-make-money-selling-the-worlds-cheapest-oil-but-it-can-be-done?__lsa=7c02-804f”%5D The …

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How Amazon is steamrolling over its competition in online sales: ‘It just keeps raising the bar’

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Two decades after Jeff Bezos started Amazon.com Inc. in his Bellevue, Wash., garage, his e-commerce juggernaut could be forgiven for letting up on its rapid growth. How Canadian Tire is grappling with the economics of e-commerce Questions in the industry still abound as to whether retailers will be able to …

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The stage seems set for regulators to get out of ruling on shareholder rights plans

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This Friday, Jan. 8, the day that Suncor’s hostile $4.3-billion all-stock offer for Canadian Oil Sands is set to expire, may end up being a milestone. If Suncor succeeds in getting support from holders of two thirds of COS shares – one of its conditions — that takeover may be …

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Mortgage broker Dominion Lending Centres to acquire Mortgage Architects

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Two of Canada’s large mortgage brokerage firms are joining forces.  In a deal announced Monday, Dominion Lending Centres said it is acquiring Mortgage Architects.  The combined firms have 4,800 accredited mortgage professionals, and a total of $32 billion in annual mortgage volume, translating to more than 100,000 individual mortgages per …

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Fiat Chrysler Automobiles takes first sales crown in another record-setting year for Canadian auto sales

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TORONTO • Fiat Chrysler Automobiles took the Canadian auto-sales crown for the first time in 2015, capitalizing on skyrocketing consumer demand for SUVs and pickup trucks in another record-setting year for the industry. The company, which sells Ram pickups, Jeep SUVs and Dodge cars, sold 15.4 per cent of the …

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Kinder Morgan Inc doesn’t meet conditions for Trans Mountain pipeline expansion: B.C.

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British Columbia’s Environment Minister Mary Polak said Kinder Morgan Inc. hasn’t met the conditions the Canadian province established for an oil pipeline expansion to go ahead. “We have not seen evidence that the five conditions have been met,” Polak said in a conference call with journalists Monday. Kinder Morgan especially …

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Oil breaches key barrier and falls below $30 for the first time in 12 years

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NEW YORK — Oil fell briefly below US$30 a barrel on Tuesday, extending a relentless selloff that has wiped almost 20 per cent off prices this year amid deepening concerns about fragile Chinese demand and the absence of output restraint. The day’s near 4 per cent drop marks a seventh …

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Oil falls below US$32 a barrel to hit new 12-year low: ‘China has torpedoed the hopes of optimists’

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Crude declined to a 12-year low, confirming the view of hedge funds that cut bullish price bets to the lowest since 2010. Futures dropped as much as 6.4 per cent in New York, adding to last week’s 10 per cent slide. Speculators’ net-long position in West Texas Intermediate crude slipped …

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Saudi Arabia’s Aramco may be world’s most valuable company — but it comes with a lot of baggage

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ANALYSIS It may be the worst time for an oil and gas company to seek a public listing, but the world’s largest oil producer is contemplating just such a move. Saudi Arabian Oil Co., or Saudi Aramco, confirmed Friday it’s studying “various options” to list “an appropriate percentage” of the …

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