TORONTO - The Toronto stock market was down sharply Monday, adding to last week's sharp losses amid signs that the U.S. Federal Reserve is getting ready to cut back on stimulus and more worry about China's economic rebound. The S&P/TSX composite index was off the worst levels of the session, coming back from a 237-point plunge to decline 120.84 points to 11,874.82 at mid-afternoon. The loss came on top of a slide of 192 points or 1.57 per cent last week. The Canadian dollar [Read more]
Archives for June 2013
Gas prices unlikely to be affected by Alberta flooding
TORONTO - The flooding in Alberta may impact many sectors of the economy, but consumers shouldn't worry about gas price spikes just yet.CIBC economist Peter Buchanan says any significant problems would be a result of flooding at refineries, and would depend on the extent of any disruption.Gasoline may see a temporary spike if people rush to fill their tanks because they're worried about supplies running low, or if consumption increases with the use of water vehicles involved in rescue [Read more]
Husky Contributes $1 Million to Flood Relief Efforts
CALGARY, ALBERTA--(Marketwired - June 24, 2013) - Husky Energy (TSX:HSE)(TSX:HSE.PR.A) is donating $1 million to help with flood response and relief efforts in southern Alberta. "We have witnessed the devastating impact of flooding, but also the resilience of those impacted and the dedication of first responders," said CEO Asim Ghosh. "Recovery will be a long process, with many lending a helping hand. We are pleased to join that effort." To assist with immediate relief efforts, $250,000 [Read more]
Enbridge grapples with pipeline shutdown, weekend spill in northern Alberta
CALGARY - Enbridge Inc. (TSX:ENB) is working to contain and clean up a weekend spill of synthetic crude into a wetland area and small lake in northern Alberta.Enbridge also shut other pipelines in the area as a precaution, including the Athabasca and Waupisoo pipelines.The release of crude comes as Alberta grapples with major flooding, including in the city of Calgary where Enbridge has its head office.Enbridge said in its initial assessment that unusually heavy rains may have resulted [Read more]
Southern Pacific Operations Not Affected by Alberta Flooding
CALGARY, ALBERTA--(Marketwired - June 24, 2013) - Southern Pacific Resource Corp. ("Southern Pacific" or the "Company") (TSX:STP) announced today that its operations at both STP-McKay and STP-Senlac were not impacted by the state of emergency and severe flooding that occurred in Calgary and southern Alberta. Southern Pacific's corporate head office in Calgary has been temporarily closed by the City of Calgary and is expected to open later this week. The Company has implemented effective [Read more]
Vermilion Energy Inc. Provides Update on Impact of Alberta Flood Activity
CALGARY, June 24, 2013 /CNW/ - Vermilion Energy Inc. ("Vermilion", "the Company", "We" or "Our") (TSX, NYSE: VET) wishes to confirm that the recent flooding in Alberta has had no impact on our field operations. Although our headquarters building in downtown Calgary is inaccessible at present due to evacuation orders from local emergency agencies, computer connections and telecommunications with our field operations remain intact with both our Canadian and overseas operations. We expect to have [Read more]
Northern Gateway equity offer would give First Nations about $70K a year: report
TERRACE, B.C. - The equity offer from Northern Gateway to aboriginal groups along the route of a controversial oil pipeline would amount to an average of about $70,000 a year for the bands, which would be obliged to borrow the millions of dollars needed to purchase equity from Calgary-based Enbridge itself.It's a far cry from the path out of poverty the company claims, say some aboriginal leaders, who are among the minority who have rejected the offer."Only minimal economic benefits [Read more]
Pennwest pipeline spills more than 5000 litres of oil in northern Alberta
LITTLE BUFFALO, Alta. - An pipeline operated by Pennwest Exploration has leaked more than 5000 litres of oil in northern Alberta and co-ordination of clean-up efforts is being hampered by flooding at the company's head office in Calgary.The Lubicon Lake First Nation says Pennwest (TSX:PWT) believes the spill took place on Saturday evening in an area that is the proposed location of future reserve lands.It says the company initially said the spill affected surface waters and muskeg [Read more]
Boil Water Order Issued for Town of Canmore
CANMORE, ALBERTA--(Marketwired - June 22, 2013) - Alberta Health Services has issued a boil water order, to the Town of Canmore (drinking water supply), in full. As such, effective immediately, ALL users of the Town of Canmore drinking water supply must bring water to a rolling boil for at least one minute prior to any consumption, including: Drinking Brushing teeth Cleaning raw foods Preparing infant formula or juices Making ice, etc. Water used for bathing, or for laundering [Read more]
Power Restored to Banff and Lake Louise Following Completion of Repair work at TransAlta’s Cascade Hydro Power Facility in Banff Corridor
CALGARY, ALBERTA--(Marketwired - June 23, 2013) - Following overnight repairs to a damaged transformer at TransAlta's Cascade hydro power facility in Banff National Park, power to the towns of Banff and Lake Louise was restored at 2:45 a.m. this morning. On June 22, water that needed to be released from the Cascade facility backed up along the Trans-Canada Highway adjacent to the facility and flowed over the highway, closing the highway between Banff and Canmore. This water also came into [Read more]
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