Business Buzz

Pipeline never inspected?
The Canadian Press - Jan 27, 2017 - Business Buzz

A pipeline that leaked 200,000 litres of oil into a frozen pond in the southeast corner of the Saskatchewan is nearly 50 years old, and there’s no record of it ever being inspected by provincial authorities, the government said Thursday. The spill on the Ocean Man First Nation was discovered and reported last Friday, but […]

Tip Top in court protection
The Canadian Press - Jan 26, 2017 - Business Buzz

There’s a cash crunch at Grafton-Fraser Inc., owner of Tip Top Tailors and other menswear chains, which has received temporary court protection so it can work to liquidate inventory and sell its assets. A report filed with Ontario Superior Court says that Grafton-Fraser owes GSO Capital Partners about $39.4 million. It also owes $12.8 million […]

Ikea buys wind farms
The Canadian Press - Jan 26, 2017 - Business Buzz

Ikea Canada has signed a deal to buy an Alberta wind farm from TransAlta and Teck Resources for a total of $119.6 million. TransAlta said Thursday it will receive about $61 million for its 51 per cent interest in the 88-megawatt Wintering Hills wind farm near Drumheller, Alta. Teck said separately that it will receive […]

Price tag for wall: $15B
The Canadian Press - Jan 26, 2017 - Business Buzz

Congress will move legislation this year providing up to $15 billion to build a wall along the Mexican boundary, Republican leaders said Thursday. But they would not say how they would prevent the massive project from adding to federal deficits. House Speaker Paul Ryan, R-Wis., and Senate Majority Leader Mitch McConnell, R-Ky., told reporters at […]

Markets break records
The Canadian Press - Jan 25, 2017 - Business Buzz

The Toronto Stock Exchange is flirting with a record-high close. The S&P/TSX composite index was up 46.37 points at 15,657.06 after 90 minutes of trading, today. In the past the benchmark has traded above its record close, but never finished there. On Sept. 3, 2014 the index hit 15,657.63, but slipped below the level in late-morning trading. Meanwhile […]

Can TPP be saved?
The Canadian Press - Jan 24, 2017 - Business Buzz

U.S. President Donald Trump’s decision to pull out of the Trans-Pacific Partnership, as promised, is prompting other member countries to seek ways to salvage the trade pact. Leaders of some of the 11 other nations involved in the initiative said they hope to push ahead with the agreement in some form, with or without the […]

Trump unlocks Keystone XL
The Canadian Press - Jan 24, 2017 - Business Buzz

President Donald Trump will sign orders Tuesday to advance the construction of the Keystone XL and Dakota Access oil pipelines, a pair of projects that were blocked by the Obama administration due in part to environmental concerns. Trump is to sign the orders Tuesday, according to a person with knowledge of the decision. The move […]

Trump aide: don’t worry
The Canadian Press - Jan 23, 2017 - Business Buzz

Canada is well regarded south of the border, so Prime Minister Justin Trudeau need not be “enormously worried” about a looming overhaul in U.S. trade policy under Donald Trump, an adviser to the new administration said Monday. Stephen Schwarzman, who leads the president’s Strategic and Policy Forum, said Canada will be in a good position […]

Missing her targets
The Canadian Press - Jan 23, 2017 - Business Buzz

Premier Christy Clark says her government’s retooled jobs plan aims to make British Columbia the most diversified economy in Canada. The premier admitted during a five-year update on her jobs plan that the government missed previous targets for students, on growth in mines and for the liquefied natural gas industry. Clark says diversification, innovation, trade […]

Trump pulls out of TPP
The Canadian Press - Jan 23, 2017 - Business Buzz

President Donald Trump wasted little time Monday in signing official notice that the United States is pulling out of the proposed Trans-Pacific Partnership trade deal. Trump called the move “a great thing for the American workers.” But at least one Canadian trade expert said it heralds more trouble on trade, including the North American Free […]