Business
TC Energy opens segment of Keystone pipeline; oil spill cleanup continues
By The Canadian Press on December 14th, 2022
CALGARY – TC Energy Corp. says it has restarted the section of the Keystone pipeline that was unaffected by last week’s oil leak in Kansas. The Calgary-based company says the restarted segment of pipeline extends from Hardisty, Alta., to Patoka, Ill. The portion of the pipeline affected by the spill remains shut down. The Keystone ... Read More »
1 responseRogers-Shaw hearing at Competition Tribunal wraps, no decision date set
By The Canadian Press on December 14th, 2022
OTTAWA – The Competition Tribunal has committed to reaching a decision as soon as possible on Rogers Communications Inc.’s proposed takeover of Shaw Communications Inc., but did not set a specific date as the hearings wrapped Wednesday. Chief Justice Paul Crampton said the tribunal is well aware of the commercial realities, which include Rogers facing ... Read More »
1 responseCanada revoking sanctions exemptions for Nord Stream turbines
By The Canadian Press on December 14th, 2022
OTTAWA – Natural Resources Minister Jonathan Wilkinson says Canada is revoking the exemptions to sanctions that allowed a Montreal company to repair turbines for a natural gas pipeline operated by Russian state-owned energy giant Gazprom. In July, Siemens Energy was granted an exemption to Canada’s sanctions against Russia to repair up to six turbines for ... Read More »
1 responseN7 Energy pleads guilty to disturbing creek bed without prior approval
By The Canadian Press on December 14th, 2022
CALGARY – The Alberta Energy Regulator says N7 Energy Ltd. has pled guilty to violating the province’s Water Act. The regulator says it laid the charge against the Calgary-based oil and gas company in August 2022. According to an agreed statement of facts, in August 2020, N7 Energy started construction activity at a bridge over ... Read More »
1 responseS&P/TSX composite and U.S. markets reverse morning gains, close down
By The Canadian Press on December 14th, 2022
TORONTO – Canada’s main stock index saw a loss of more than half a per cent Wednesday, reversing slight mid-morning gains, while U.S. markets were also down at the close after beginning the day on a more optimistic streak. The S&P/TSX composite index was down 131.81 points at 19,891.65. In New York, the Dow Jones ... Read More »
1 responseStocks stumble after Fed hikes rates, signals more to come
By Damian J. Troise And Alex Veiga, The Associated Press on December 14th, 2022
NEW YORK – Stocks ended lower in bumpy trading on Wall Street after the Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead. As expected, the central bank raised its key short-term rate by half a percentage point Wednesday, marking its seventh increase this year. ... Read More »
Be the first to comment!US stocks fall after Fed hikes rates, signals more to come
By Damian J. Troise And Alex Veiga, The Associated Press on December 14th, 2022
NEW YORK – Stocks turned lower on Wall Street and Treasury yields rose in afternoon trading Wednesday after the Federal Reserve raised its benchmark interest rate and signaled more hikes ahead. As expected, the central bank raised its key short-term rate by 0.50 percentage points, marking its seventh hike this year. The latest hike is ... Read More »
1 responseFed raises key rate by half-point and signals more to come
By Christopher Rugaber, The Associated Press on December 14th, 2022
WASHINGTON (AP) – The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But the Fed announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The ... Read More »
1 responseOttawa council hoping transit fare freeze will help ridership bounce back
By The Canadian Press on December 14th, 2022
Ottawa city council is freezing transit fares for one year in an effort to restore the public’s trust after the light rail transit system debacle. Council is also hoping that freezing fares at $3.75 for youths and adults will encourage more people to use public transit, particularly as they return to in-person work. The move ... Read More »
1 responseShaw lawyer says Competition Bureau case against sale to Rogers not based in reality
By The Canadian Press on December 14th, 2022
OTTAWA – A lawyer for Shaw Communications Inc. says the Competition Bureau’s case against the company’s proposed merger with Rogers Communications Inc. is built on false assumptions and not based in reality. Kent Thomson said in closing arguments that the assumptions and evidence about the market share of Shaw’s mobile operations put forth by the ... Read More »
1 responseNational average rent rose to a record $2,024 in November: Rentals.ca
By Caitlin Yardley, The Canadian Press on December 14th, 2022
MONTREAL – The average monthly cost to rent a home in Canada rose to a record $2,024 in November, new data shows, and experts say this trend is showing no signs of stopping. The National Rental Report published Tuesday said the average price for rent in November was up 2.5 per cent compared with the ... Read More »
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