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Canada’s two biggest oil producers are cautiously boosting spending next year despite congested pipelines and government production limits, waging they can thrive in a weak market better than smaller companies that are reining in capital. Canadian Natural Resources Ltd. (CNRL) and Read more …
Alberta’s oil and gas regulator is weighing “further action” against some of its former executives following three provincial probes into a now-defunct international training centre called ICORE. Bev Yee, interim chair of the Alberta Energy Regulator, told a legislative committee this week the public agency has strengthened Read more …
A company that ran data processing centres in Labrador has gone bankrupt. Great North Data hosted bitcoin mining operations and processed artificial intelligence algorithms at facilities in Labrador City and Happy Valley-Goose Bay. According to bankruptcy documents filed late last month, Read more …
The Bank of Canada has held its benchmark overnight interest rate at 1.75 per cent, as widely expected by analysts. Stephen Poloz, governor of the central bank, made the announcement Wednesday morning, leaving the rate unchanged for the ninth meeting in a Read more …
Gibson Energy Inc. says it will build a 100,000-barrel-per-day diluent recovery unit near the Alberta oil marketing hub of Hardisty, a strategy expected to free up room in pipelines and on railcars for oilsands exports. The Calgary-based company says it Read more …
The average Canadian family will pay up to an extra $487 for food next year, according to an annual report that highlights climate change as a big culprit for rising prices, especially in the produce department. Unexpected snowstorms, droughts and other Read more …
Royal Bank of Canada’s profit in the fourth-quarter edged lower compared with a year ago, due in part to lower results at some business units and increased provisions for credit losses, RBC announced Wednesday. The Toronto-based bank reported net income Read more …
The number of travellers from Canada hit with a long-term ban when trying to enter the U.S. has almost doubled, new data shows. Between October 2018 and September 2019, U.S. border officers issued expedited removals — which “generally” result in a Read more …
A Burnaby, B.C., man has been identified as a suspect in an RCMP investigation into organized crime groups accused of scamming Canadians by posing as Canada Revenue Agency officers, demanding payment through cash and gift cards. According to B.C. Supreme Court documents, officers Read more …
Alberta’s credit rating has been downgraded by Moody’s, with the agency citing the volatility in the province’s dependence on oil and continued fiscal pressures. The provinces rating was downgraded to Aa2 stable from Aa1 negative on Tuesday. The downgrade, the agency states, reflects Moody’s Read more …