CALGARY - Proxy advisory firm Institutional Shareholder Services is recommending "cautionary support" for MEG Energy's plan to be acquired by oilsands giant Cenovus Energy. ISS says in a report that shareholders in MEG find themselves in a dilemma because the Cenovus offer is "neither compelling nor opportunistic," but it's uncertain if a better bid will come. Cenovus made its friendly offer after MEG spurned a hostile one from fellow oilsands producer Strathcona [Read more]
Economic growth in July could give way to stall in August: StatCan
OTTAWA - The Canadian economy grew in July but any momentum may have been short lived, Statistics Canada said Friday. Real gross domestic product grew 0.2 per cent in July, marking the first signs of growth in four months. Real GDP declined 1.6 per cent on an annualized basis in the second quarter. The growth in July was a bit faster than economists' expectations heading into the release. Statistics Canada said the growth in July was driven by goods-producing industries, which grew 0.6 [Read more]
Tariffs, government spending, gas prices — what’s driving inflation right now?
OTTAWA - MPs returned to the House of Commons earlier this month to confront an old problem — inflation — which is now being driven by new forces. Many consumers are still reeling from the decades-high inflation levels seen in the post-pandemic recovery period, when prices for housing, fuel and groceries all surged. But the factors shaping inflation today are different from the ones in play when the lockdowns ended, and MPs and the Bank of Canada are now grappling with the impact of [Read more]
Parkland, Sunoco clear key U.S. regulatory hurdle for acquisition
CALGARY - Parkland Corp. and Sunoco LP say they have cleared a key U.S. antitrust hurdle in a US$9.1-billion deal that would see the U.S. fuel distribution giant buy the Calgary-based refiner and retailer. The two companies say the waiting period has expired under the Hart-Scott-Rodino Act, satisfying one regulatory approval that's needed for the deal to close. Under the act, companies planning to merge can't complete certain integration activities until authorities determine the deal will [Read more]
Black Diamond Group buying Royal Camp Services for $165 million
CALGARY - Workforce housing company Black Diamond Group Ltd. has signed a deal to buy Royal Camp Services Ltd. for $165 million. Royal Camp offers remote accommodation and catering in Western Canada. Summit Camps, a wholly owned subsidiary, provides camp services in remote regions, primarily in British Columbia and the Yukon, while Royal Camp also has a partnership with Primco Dene of the Cold Lake First Nations. Black Diamond says the combined company will have nearly 12,000 rooms of [Read more]
Cenovus Energy makes case for MEG Energy offer over bid by Strathcona Resources
CALGARY - Cenovus Energy Inc. says its cash-and-stock bid for MEG Energy Corp. offers a premium valuation and certainty over a rival all-stock offer for the oilsands company by Strathcona Resources Ltd. In a presentation advocating for its friendly deal, Cenovus says it brings scale, experience and technology to capture meaningful synergies with MEG. It argues the Strathcona deal carries significant downside risk if that company's shares drop once the deal is complete. The MEG board has [Read more]
Canadian banks’ fossil fuel funding nearly double compared with renewables: report
TORONTO - A new report says Canada's big banks financed about US$145 billion in fossil fuel investments last year, compared with about US$75 billion to low-carbon energy. The report by energy transition research firm BloombergNEF focuses on the ratio of global bank funding going to oil, gas and coal projects compared with low-carbon investments like wind, solar and electrical grids, as a way to see how much financial institutions are helping or hindering the transition. BloombergNEF found [Read more]
Tamarack Valley Energy selling non-core assets in eastern Alberta for $112 million
CALGARY - Tamarack Valley Energy Ltd. has signed a deal to sell a group of non-core assets in eastern Alberta to a private company for $112 million. The assets in the Veteran Consort and Eyehill areas produce approximately 4,000 barrels of oil equivalent per day or about six per cent of Tamarack's corporate production. The company says the sale completes its transformation into a pure-play Clearwater and Charlie Lake player. The deal also reduces the company's asset retirement [Read more]
Alberta changing industrial carbon tax program to recognize company investments
CALGARY - The Alberta government is changing its industrial carbon tax program to let companies avoid paying provincial fees based on emissions by investing in their own emissions reduction projects instead. Premier Danielle Smith says the move, likely to come into effect this fall, would support economic growth while ensuring companies work to lower emissions. She says the province is also allowing smaller companies that don't meet the emissions threshold to opt out of the carbon pricing [Read more]
Quebec bet big on Lion electric school buses. Now critics say the plan has backfired
MONTREAL - The Quebec government's aggressive push to electrify its school bus fleet — while giving one local manufacturer a virtual monopoly — could now be turning school bus operators off electric vehicles and delaying the transition, critics say. The abrupt withdrawal of 1,200 Lion electric school buses from Quebec roads after a bus in Montreal caught fire last week is prompting renewed criticism of the provincial government's approach to electrification. Many school bus routes in [Read more]
- « Previous Page
- 1
- …
- 24
- 25
- 26
- 27
- 28
- …
- 538
- Next Page »