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Oil investment cuts will curtail supplies soon: reports

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CALGARY — The bill for today’s low oil prices could come soon enough: With scores of projects cancelled and investment cuts expected to continue through 2016, industry’s ability to meet future demand is looking bleak. Even as the market continues to focus on bearish short-term indicators, like high North American …

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Gold miner Kinross Gold Corp reports big quarterly loss but offers solid 2016 guidance

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Kinross Gold Corp. reported a huge fourth quarter loss on Wednesday due to writedowns, but the company beat its production and cost guidance and offered up a solid outlook for 2016. Toronto-based Kinross was the first senior Canadian gold miner to report earnings this quarter, and the results set a …

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HSBC Bank Canada reports quarterly loss as oil collapse hits energy sector customers

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VANCOUVER — HSBC Bank Canada says it had a loss in its fourth quarter and its 12-month profit was about one-third less than in 2014, largely because of increased provisions for customers in the energy sector. The bank’s profit was $414 million for the 12 months ended Dec. 31, including …

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OMERS reports 6.7% return on investments for Ontario local public sector workers

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TORONTO — The OMERS pension fund is reporting a 6.7 per cent net return last year on the investments it manages for municipal and other public-sector workers across Ontario. OMERS says its assets grew by $5 billion last year after expenses to about $77 billion, with 52 per cent in …

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