Kinder Morgan says Trans Mountain project could be a year behind schedule

Kinder Morgan says Trans Mountain project could be a year behind schedule
CALGARY — Kinder Morgan Canada Ltd. (TSX:KML) is projecting that the Trans Mountain pipeline expansion project could be a year behind schedule as it continues to encounter permitting delays. The estimate is three months further behind from the company’s last estimate in December, and now potentially puts the $7.4-billion project in service by Dec. 2020 depending on regulatory, permit and legal approvals. Kinder Morgan Canada... Read More

Home Capital vows to defend itself against short seller’s $4M lawsuit

Home Capital vows to defend itself against short seller’s $4M lawsuit
TORONTO — Home Capital Group (TSX:HCG) says it vows to defend itself against misrepresentation claims in a $4-million lawsuit filed by a short seller against the alternative lender and three of its former executives. The company issued a response after California-based short seller Marc Cohodes on Monday filed a statement of claim with the Ontario Superior Court of Justice, alleging that the company’s misrepresentations in its financial reporting cost him millions when... Read More

Watch what you buy? Canadian brands hope web series will entice new customers

Watch what you buy? Canadian brands hope web series will entice new customers
TORONTO — Viewers who stumble across the Canadian YouTube series “Upstairs Amy” might not realize it at first, but the comic foibles of its working-mom star are actually part of an elaborately constructed advertisement. Not until three-and-a-half minutes into the show does Walmart Canada and payment transaction company Interac reveal they’re behind each episode. By then, audiences have already become acquainted with Amy’s adventurous lifestyle and the fabulous party hosted in her... Read More

Bombardier won’t confirm pending order in Iran 10 CRJ900 regional jets

Bombardier won’t confirm pending order in Iran 10 CRJ900 regional jets
MONTREAL — Bombardier Inc. will not confirm a published report in Iran that the Canadian planemaker is finalizing its first commercial aircraft order in the Middle Eastern country. The Quebec-based company has acknowledged in the past that it was exploring opportunities in Iran. Chief executive Alain Bellemare said more than a year ago that he was pretty sure the company will gain... Read More

$611 million in Sears Canada dividend payments under review by court monitor

$611 million in Sears Canada dividend payments under review by court monitor
TORONTO — Hundreds of millions of dollars of dividends doled out to Sears Canada shareholders are coming under scrutiny by the former retailer’s court-appointed monitor, according to a new report in the company’s insolvency proceedings. The report also highlights the tens of millions of dollars the failed chain, which faces a more than $260-million pension deficit and has laid off roughly 15,000... Read More

Bank of Canada hikes interest rate to 1.25%, cites strong economic data

Bank of Canada hikes interest rate to 1.25%, cites strong economic data
OTTAWA — The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer — but looking ahead it warned of growing uncertainties about NAFTA. The central bank pointed to unexpectedly solid economic numbers as key drivers behind its decision to hike the rate to 1.25 per cent, up from one per cent. The increase followed hikes in... Read More