U.S. hedge fund reports owning more than a 5% stake in Obsidian Energy

U.S. hedge fund reports owning more than a 5% stake in Obsidian Energy
CALGARY — Activist investor FrontFour Capital says it will attempt to influence decisions at Calgary-based Obsidian Energy Ltd. (TSX:OBE) after accumulating more than 27 million shares. The Greenwich, Conn.-based hedge fund says in a declaration filed with the U.S. Securities and Exchange Commission that it has a 5.5 per cent stake in the oil and gas company formerly known as Penn West... Read More

TSX up in broad-based advance, as U.S. stocks hit new record highs

TSX up in broad-based advance, as U.S. stocks hit new record highs
TORONTO — It was a positive day on both sides of the border as Canada’s main stock index pushed higher and U.S. stocks hit new record highs. The S&P/TSX composite index advanced 72.25 points to 16,076.65, with the materials and base metals sectors leading the broad-based advance. “Looking at all the sectors, they’re up — you have energy, materials and banking up.... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,076.65, up 72.25 points) Aurora Cannabis Inc. (TSX:ACB). Health care. Up 22 cents, or 3.76 per cent, to $6.07 on 12.5 million shares. IC Potash Corp. (TSX:ICP). Agriculture. Up one cent, or 16.67 per cent, to seven cents on 6.9 million shares. Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Up two cents, or 0.65 per... Read More

Amazon and the slow death of the traditional grocery store

Amazon and the slow death of the traditional grocery store
The Amazon effect has Loblaws and others reimagining their businesses. Consumers will have greater choice and convenience – from their homes By Sylvain Charlebois Senior Fellow Atlantic Institute for Market Studies The bricks-and-mortar food retailing model is losing its lustre in Canada. The signs are everywhere. Loblaws is the latest grocer to commit to home delivery. Starting in December, the... Read More

Federal agency dismisses complaint against Seabridge gold project

Federal agency dismisses complaint against Seabridge gold project
TORONTO — Seabridge Gold Inc. (TSX:SEA) says a federal agency has dismissed a complaint by Alaskan conservationists against the company’s massive KSM mining project in northern British Columbia. The Southeast Alaska Conservation Council had appealed to Canada’s National Contact Point within Global Affairs Canada to look into whether the company had violated international guidelines on consultations with stakeholders, due diligence on environmental and human rights impacts, and disclosure... Read More

Drilling contractors association forecasts ‘muted stability’ in 2018

Drilling contractors association forecasts ‘muted stability’ in 2018
CALGARY — The association that represents Canadian oil and gas drilling companies says it expects “muted stability” for the industry in 2018 despite recent strengthening in oil prices. The Canadian Association of Oilwell Drilling Contractors is calling for 6,138 wells to be drilled in its 2018 forecast, an increase of just 107 from the number expected to be drilled this year. It says the Canadian... Read More

RBC joining global tech giants in setting up lab in AI-friendly Montreal

RBC joining global tech giants in setting up lab in AI-friendly Montreal
MONTREAL — Canada’s largest bank is joining global tech giants in setting up a research lab in Montreal to take advantage of the city’s growing artificial intelligence expertise. The Royal Bank of Canada will open a Borealis AI lab in the new year, joining labs in Toronto and Edmonton. It hopes to have 10 researchers on staff in the first year of operation. “(Montreal) is absolutely one... Read More

Cost to fix Phoenix pay system to surpass $540 million, auditor general says

Cost to fix Phoenix pay system to surpass $540 million, auditor general says
OTTAWA — The federal government’s chronic salary struggles could be on the verge of ballooning into a billion-dollar boondoggle, the auditor general says in a scathing review that hints the entire system should be scrapped. Michael Ferguson’s review of the disastrous Phoenix pay system reveals just how many and how often public servants are either being overpaid and underpaid, how little... Read More