MONTREAL - National Bank said Tuesday it expects its loan losses will increase slightly this year as low crude prices put increased pressure on borrowers in oil-producing provinces."Absent an improvement in prices, we expect some producer loans on our watch list will migrate to impaired and additional provisions could be incurred," Bill Bonnell, executive vice-president of risk management, said during a conference call.During its first quarter, the Montreal-based bank — the smallest of Canada's [Read more]

OTTAWA - Rushing to balance the federal books would drive the country into recession, Finance Minister Bill Morneau cautioned Tuesday — one day after admitting that he's digging a fiscal hole that's even deeper than originally planned.Morneau was at the centre of several heated partisan exchanges that highlighted the stark philosophical difference between the Liberals and Conservatives on the importance of a balanced federal budget.He appeared before an all-party parliamentary committee to [Read more]

OTTAWA - Finance Minister Bill Morneau released updated fiscal projections Monday that predict an $18.4-billion deficit in 2016-17. That number is expected to grow even larger before the budget is tabled March 22.Here are five things that could push the Liberal budgetary shortfall beyond $20 billion next year:1. Cash for infrastructure. The Liberal government made an election-campaign promise to invest at least $5 billion next year on infrastructure, which the party argues will kick-start the [Read more]

EDMONTON - Environmental monitoring in the oilsands needs to be better focused and turn more data into information the public can use to understand what's happening in the region's ecosystem, an independent review has concluded.The review released Monday also says the federal and provincial governments need to form a better idea of what the $50-million monitoring program is intended to accomplish."It's very hard to hit the target if you haven't defined what the target is," said Philip Hopke, [Read more]

OTTAWA - With the federal government considering aid for aerospace giant Bombardier — Alberta Premier Rachel Notley is calling for more support in her province.Notley told CTV's Question Period Sunday that all Canadians benefit from a strong Alberta economy — which is struggling amid stubbornly low energy prices.She says wants Ottawa to adjust the employment insurance program to broaden access for laid-off energy workers and extend how long benefits are available.Notley also says the federal [Read more]