Business
Enbridge expects annual EPS growth of 4% to 6% through 2025, plans new investments
By Amanda Stephenson, The Canadian Press on March 1st, 2023
CALGARY – A U.S. Gulf Coast gas storage facility and a stake in a company developing fuel from waste food are among a string of new investments announced by Canadian energy giant Enbridge Inc. on Wednesday. At its annual investor day event, the Calgary-based company announced $3.3 billion in new investments it says will help ... Read More »
1 responseBell and Telus customers will face higher roaming rates beginning next week
By The Canadian Press on March 1st, 2023
TORONTO – Some Canadians will pay more to use their cellphones while travelling abroad beginning next week. Telus and Bell say they are raising roaming rates, effective March 8 and 9, respectively. Telus says on its website that its customers will pay $14 daily to roam in the U.S., up from $12, while those visiting ... Read More »
1 responseS&P/TSX composite edges lower in late-morning trading, U.S. stock markets down
By The Canadian Press on March 1st, 2023
TORONTO – Canada’s main stock index edged lower in late-morning trading as losses in the financial and technology sectors weighed against gains in the energy stocks, while U.S. stock markets were in the red. The S&P/TSX composite index was down 3.50 points at 20,217.69. In New York, the Dow Jones industrial average was down 130.68 ... Read More »
1 responseTD efforts to extend close of First Horizon deal raises doubt about it going ahead
By The Canadian Press on March 1st, 2023
TORONTO – TD Bank Group has raised questions about the chances of it closing its proposed US$13.4-billion acquisition of First Horizon as it looks to further extend the closing date of the deal. First Horizon says in a regulatory filing that TD has informed the bank that it does not expect to close the deal ... Read More »
1 responseOil and gas investment in Canada to hit $40 billion in 2023, industry group says
By The Canadian Press on March 1st, 2023
CALGARY – The Canadian Association of Petroleum Producers says it expects investment in oil and natural gas production in this country to hit $40 billion this year. The industry group says that’s 11 per cent higher than last year and also surpasses pre-COVID-19 pandemic levels. Upstream oil and natural gas investment in Canada reached a ... Read More »
1 responseInsolvency filings in Canada in January up 33.7% compared with a year earlier
By The Canadian Press on March 1st, 2023
OTTAWA – The Office of the Superintendent of Bankruptcy says the total number of insolvencies in Canada in January was up by roughly a third compared with a year earlier. The federal regulator says there were 9,066 insolvencies for the first month of the year, up 33.7 per cent from 6,779 in January 2022. The ... Read More »
Be the first to comment!Stocks tick lower as Wall Street braces for higher rates
By Yuri Kageyama And Matt Ott, The Associated Press on March 1st, 2023
NEW YORK (AP) – Stocks are drifting lower as Wall Street continues to brace for interest rates to stay higher for longer. The S&P 500 was 0.3% lower early Wednesday in its first trading after coming off a frigid February. The Nasdaq also fell and the Dow was little changed. After a hot start to ... Read More »
Be the first to comment!TikTok sets new default time limits for minors
By Michelle Chapman, The Associated Press on March 1st, 2023
TikTok said Wednesday that every account held by a user under the age of 18 will have a default 60-minute daily screen time limit in the coming weeks. The changes arrive during a period in which there are growing concerns among different governments about the app’s security. Families have struggled with limiting the amount of ... Read More »
Be the first to comment!Aecon Group selling Ontario road building business for $235 million
By The Canadian Press on March 1st, 2023
TORONTO – Aecon Group Inc. has signed a deal to sell its road building business in Ontario to Green Infrastructure Partners Inc. (GIP) for $235 million in cash. Under the agreement, GIP will acquire Aecon Transportation East (ATE), which builds roads throughout Ontario for the provincial government, municipalities and private clients. Aecon says it will ... Read More »
Be the first to comment!Enbridge expects annual EPS growth of 4-6% through 2025, announces new investments
By The Canadian Press on March 1st, 2023
CALGARY – Enbridge Inc. says it expects its earnings per share to grow at a compounded annual rate of four to six per cent through 2025. In an update of its priorities and financial outlook, the pipeline company says it expects its distributable cash flow per share to grow at an annual rate of about ... Read More »
Be the first to comment!New Brunswick seafood foreign workers faced awful conditions during COVID-19: study
By The Canadian Press on March 1st, 2023
FREDERICTON – A study by Dalhousie University says temporary foreign workers in New Brunswick’s seafood industry during the COVID-19 pandemic suffered gruelling and sometimes dangerous conditions. The study, called “Unfree Labour: COVID-19 and Migrant Workers in the Seafood Industry in New Brunswick,” says workers endured low pay, long hours, overcrowded housing and limited access to ... Read More »
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