By The Canadian Press CALGARY - The man who was brought in last year to shake up Canadian Pacific Railway Ltd. (TSX:CP.TO) says a strong first quarter — which broke several company records — has put CP on track to have the best year in its 132-year history. CP chief executive Hunter Harrison, who was brought in last year after a highly public and hotly contested shareholder revolt against the former leadership, said he's happy with the progress but not finished with transforming the [Read more]
TransCanada says it’s somewhat surprised over EPA reaction to Keystone pipeline
By The Canadian Press CALGARY - TransCanada says it's somewhat surprised at the U.S Environmental Protection Agency's recent critical comments of its proposed Keystone XL pipeline. TransCanada (TSX:TRP.TO) says it has had a co-operative relationship with the EPA throughout the four-year-plus review of the project. On Monday, the EPA publicly denounced for a second time the U.S. State Department's favourable environmental review of the pipeline. The pipeline company says the EPA [Read more]
Encana closer to finding new CEO, Q1 operating income beats estimates
By Lauren Krugel, The Canadian Press CALGARY - Encana Corp. has reported first-quarter operating earnings that beat analyst expectations and says its hunt for a new CEO is nearing its end. The natural gas giant (TSX:ECA.TO) posted operating earnings of US$179 million, or 24 cents per share. During the same period a year earlier, operating earnings — deemed a better measure of Encana's underlying performance — were $240 million, or 33 cents per share. The consensus estimate had been for [Read more]
Earnings news, weak Chinese economic data depress Toronto stock market
TORONTO - The Toronto stock market was negative Tuesday and commodity prices slid amid data showing China's manufacturing sector barely in expansion mode in April. The S&P/TSX composite index fell 24.37 points to 12,066.31 as the latest economic growth worries about the world's second-biggest economy pushed mining stocks lower. The market was also pressured by earnings reports with traders expressing disappointment with mining giant Teck Resources (TSX:TCK-B.TO) and telecom [Read more]
Bellatrix Exploration Ltd. Announces Extension to Korean JV
TSX, NYSE MKT: BXE CALGARY, April 23, 2013 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (BXE.TO), (NYSE MKT: BXE) announces that the Seoul Korea based company, has requested and been granted a one month extension to the closing for the previously announced Ferrier area Korean $300 million Cardium Joint Venture. The closing is anticipated on or before May 31, 2013. Bellatrix Exploration Ltd. is a Western Canadian based growth oriented oil and gas company engaged [Read more]
Two men arrested in Via train terror plot linked to Al-Qaida, Iran: RCMP
TORONTO, Canada – Two terror suspects who were arrested for allegedly plotting to attack a Via passenger train received “direction and guidance” from al-Qaida elements in Iran, the RCMP said Monday. The suspects — identified as Chiheb Esseghaier, 30, and Raed Jaser, 35, — were arrested Monday morning in Montreal and Toronto. “While the RCMP believed the accused had the capacity and intent to carry out these criminal acts, there was no imminent threat to the general public, rail [Read more]
Alberta Securities Commission alleges insider trading against ex Daylight CEO
CALGARY - The Alberta Securities Commission is accusing the former CEO of Daylight Energy Ltd. of insider trading, along his ex-wife and her boyfriend. The watchdog said Monday it alleges Anthony Lambert bought shares in Daylight in August and September 2011 shortly before the oil and gas producer was acquired by Chinese firm Sinopec. The $2.2-billion deal was not disclosed publicly until Oct. 9, 2011. The transaction was completed in December of that year. The ASC also alleges Lambert [Read more]
Oilsands environmental data now public
By Heather Scoffield OTTAWA - Interested Canadians can now freely access environmental data from the oilsands now that the federal and Alberta governments have opened up a data portal to much of their scientists' work. Federal Environment Minister Peter Kent and his provincial counterpart Diana McQueen officially launched their joint oilsands monitoring data portal on Tuesday in an attempt to win the public's trust for further resource development. The portal, they said, goes [Read more]
Traders await slew of resource company earnings reports after dismal week on TSX
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market could be set to move further into negative territory this week as a slew of resource companies deliver quarterly earnings reports. The TSX had a dismal week, closing down 2.2 per cent, leaving the main Toronto index down 2.95 per cent year to date, as a new round of worry sparked a selloff concentrated on resource stocks. Oil moved below US$90 a barrel and copper fell to an 18-month low after the International [Read more]
Conservatives mark Earth Day, open public access to oilsands monitoring data
By Heather Scoffield OTTAWA - The federal Conservatives have decided to mark Earth Day this year, launching a long-promised portal for public access to sensitive environmental data from the oilsands. Federal Environment Minister Peter Kent and his Alberta counterpart Diana McQueen will be at Carleton University in Ottawa on Monday to flick the switch and allow public scrutiny of new research measuring the quality and quantity of the land, air and water in the Athabasca [Read more]
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