OTTAWA - The economy was growing steadily in May and appeared on track for a solid rebound in the second quarter as a whole, Statistics Canada said Friday. The agency said real gross domestic product rose 0.3 per cent in May amid growth in both the goods and services sides of the economy. That topped StatCan’s own initial estimate for 0.1 per cent growth in the month. The agency said output from the mining, quarrying, oil and gas extraction sector rose one per cent in May, leading economic [Read more]
Pipeline company Enbridge reports $1.4-billion second-quarter profit
CALGARY - Enbridge Inc. reported a second-quarter profit attributable to common shareholders of $1.4 billion, down from $2.18 billion a year earlier. The pipeline company says the profit amounted to 64 cents per share for the quarter ended June 30, down from $1 per share in the same quarter last year. On an adjusted basis, Enbridge says it earned 63 cents per share in its latest quarter, down from an adjusted profit of 65 cents per share in the second quarter of 2025. The company says [Read more]
Bank of Canada officials split over how long the recent economic rebound will last
OTTAWA - Members of the Bank of Canada's governing council were split over how sustainable a recent economic rebound could be, deliberations from the central bank's rate decision earlier this month show. The Bank of Canada held its benchmark interest rate steady at 2.25 per cent for a sixth straight time at its decision on July 15. Minutes tracking governing council's discussions heading into that announcement were released Wednesday. The deliberations show officials were growing more [Read more]
Ksi Lisims LNG inks 20-year supply deal with German utility Uniper
VANCOUVER - German utility Uniper says it has signed an agreement to purchase liquefied natural gas from the Ksi Lisims project planned for the northern British Columbia coast. Uniper and Ksi Lisims LNG say in a joint news release that the Duesseldorf-based company will purchase two million tonnes per year of LNG for up to 20 years, with first deliveries expected in 2032. They say the deal marks the first major long-term LNG supply agreement between Canada and Germany. Uniper and Ksi [Read more]
Cenovus reports Q2 profit up from year ago, raises 2026 production guidance
CALGARY - Cenovus Energy Inc. raised its production forecast for the year as it reported a second-quarter profit of $2.87 billion, up from $851 million a year ago. That amounted to $1.53 per diluted share, up from 45 cents per diluted share in the same quarter last year. Revenue totalled $17.4 billion, up from $12.3 billion a year earlier. Total upstream production was 970,400 barrels of oil equivalent per day, up from 765,900 boepd in the second quarter of 2025. Cenovus says it now [Read more]
Eby defends minister’s descent on LNG expansion citing ‘big tent’
SURREY - British Columbia Premier David Eby says he helped a cabinet minister write her statement denouncing plans for the expansion of a liquefied natural gas plant neighbouring her riding, despite his government advocating for the project. Kelly Greene, the minister of emergency management and climate readiness, posted a statement on Friday saying she was "disappointed" in the decision by FortisBC to move forward with the next phase of the Tilbury LNG project, citing safety [Read more]
TD report predicts ‘meaningful’ GDP boost from West Coast pipeline
CALGARY - A report from TD Economics says a new oil pipeline to the West Coast would lift Canada and Alberta's gross domestic product, but perhaps not to the degree the provincial and federal governments are forecasting. The government analysis predicts a 0.6 per cent boost to the national economy by the 2040s and 3.5 per cent for Alberta's. The TD report says those numbers "may lean optimistic" as the governments look to advance the project's early-stage development. Using more [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Bank of Canada The Bank of Canada on Wednesday will publish a summary of the governing council's monetary policy deliberations for its interest rate decision earlier this month. The central bank held its policy rate at 2.25 per cent, saying the economy is showing signs of improvement. It pointed to growth picking up and inflation projected to ease gradually from its recent spike. CPKC Canadian [Read more]
B.C. government allows accelerated expansion of the Tilbury LNG fuel facility
VICTORIA - The British Columbia government is exempting a utility company that plans to expand its liquefied natural gas plant in Metro Vancouver, allowing the $2-billion investment to move ahead. Energy Minister Adrian Dix says the government has issued an order-in-council that will exempt Fortis BC from getting a permit, requiring the company to show that the proposed expansion of the Tilbury LNG facility in Delta, B.C. protects the public interest. Normally, developers need to obtain a [Read more]
Canadian, U.S. stock markets fall as oil tops US$90 a barrel
TORONTO - Canadian and U.S. markets lost ground Thursday following a sharp increase in oil prices after attacks on two Saudi oil tankers in the Red Sea. Carol Schleif, chief market strategist at BMO Private Wealth, said that markets were facing a “wall of worry” with stocks seeing pressure from several factors, including higher oil prices and nervousness about the AI trade. “It's important to take a step back and realize markets have done really well, year-to-date. The TSX was at [Read more]
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