August 25th, 2019

Business

Pembina CEO says ‘noise’ makes Trans Mountain pipeline bid unlikely

By Dan Healing, The Canadian Press on August 21st, 2019

CALGARY – The CEO of Pembina Pipeline Corp. says the Trans Mountain pipeline system would fit neatly into his company’s business model but he wouldn’t want the “noise” associated with its controversial expansion project. On a conference call to discuss his company’s agreement announced Wednesday to purchase Kinder Morgan Canada Ltd., Mick Dilger was non-committal ... Read More »

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Retail giants face pressure to change chemical-coated receipt paper

By The Canadian Press on August 21st, 2019

TORONTO – Some of Canada’s biggest retailers say they’ve started testing alternatives to receipt paper that’s coated in potentially dangerous chemicals, as pressure mounts for them to phase it out by the end of this year. A conglomerate of health, labour and environmental groups has sent a letter to 13 retailers, including major grocers and ... Read More »

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Fed officials widely divided on rates at July meeting

By Martin Crutsinger, The Associated Press on August 21st, 2019

WASHINGTON – Federal Reserve officials were widely divided at their meeting last month when they decided to cut rates for the first time in a decade, with some arguing for a bigger rate cut while others insisted the Fed should not cut rates at all. The minutes of the July 30-31 discussions released Wednesday show ... Read More »

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Trans Mountain puts contractors on notice to get ready for pipeline restart

By The Canadian Press on August 21st, 2019

SHERWOOD PARK, Alta. – Trans Mountain Corp. has advised construction contractors to get ready for the restart of its pipeline expansion project to the west coast. Trans Mountain says its directive gives contractors 30 days to ready equipment, start hiring workers, secure goods and services and develop detailed plans. The company says work is to ... Read More »

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Ontario Teachers earns 6.3 per cent return on investments in first half of 2019

By The Canadian Press on August 21st, 2019

TORONTO – Ontario Teachers’ Pension Plan says it earned a 6.3 per cent return on its investments in the first six months of the year, raising its net assets to $201.4 billion. The gain increased the pension fund’s net assets by $10.3 billion as of June 30 after delivering contributions across every asset class in ... Read More »

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RBC’s Q3 net income rises to $3.3B, misses estimates on weaker capital markets

By Armina Ligaya, The Canadian Press on August 21st, 2019

TORONTO – Royal Bank of Canada increased its dividend as its third-quarter profit rose by five per cent to hit a record, but the lender’s latest earnings missed estimates as challenging market conditions weighed on its capital markets division. Earnings from its investor and treasury services arm also fell, but strength in personal and commercial ... Read More »

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TSX, U.S. markets move higher ahead of July Fed minutes; Loonie higher

By The Canadian Press on August 21st, 2019

TORONTO – North American stock indexes moved higher Wednesday morning as investors await interest rate news from the U.S. Federal Reserve. The S&P/TSX composite index was up 59.39 points at 16,272.70. In New York, the Dow Jones industrial average was up 221.34 points at 26,183.78. The S&P 500 index was up 20.35 points at 2,920.86, ... Read More »

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Shaw, Videotron join industry concern over CRTC’s new wholesale broadband rates

By The Canadian Press on August 21st, 2019

TORONTO – Shaw Communications Inc. and Videotron join major Canadian telecom companies that have expressed concern over the CRTC’s decision to lower the prices that smaller internet providers have to pay them to use their networks. Calgary-based Shaw says there will be long-term negative consequences from the decision to dramatically reduce the federally regulated wholesale ... Read More »

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US home sales rose 2.5% in July, aided by low mortgage rates

By Josh Boak, The Associated Press on August 21st, 2019

WASHINGTON – U.S. home sales increased 2.5% in July, a sign that lower mortgage rates have produced a spurt of home-buying. The National Association of Realtors says homes sold last month at a seasonally adjusted annualized rate of 5.42 million units. Average interest rates on 30-year mortgages have fallen to 3.60%, the lowest in nearly ... Read More »

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Inflation hits Bank of Canada 2% target for second straight month

By The Canadian Press on August 21st, 2019

OTTAWA – The Canadian annual inflation rate came in at two per cent in July to hit the Bank of Canada’s ideal target for a second straight month. Statistics Canada says consumers paid less last month for gasoline, internet services and traveller accommodation compared with a year earlier. However, the latest consumer price index showed ... Read More »

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