BP Canada given the go-ahead to start drilling off the Nova Scotia coast

BP Canada given the go-ahead to start drilling off the Nova Scotia coast
HALIFAX — Nova Scotia’s offshore petroleum regulator has granted BP Canada Energy Group approval to begin drilling a well off the province’s coast. The Aspy D-11 exploration well is the first in BP Canada’s Scotian Basin Exploration Project, which could see up to seven exploration wells drilled off the southeast coast of Nova Scotia over a three year period. The oil and gas company submitted... Read More

Institutional shareholder adviser calls for change at Crescent Point Energy

Institutional shareholder adviser calls for change at Crescent Point Energy
CALGARY — An international proxy advisory firm is joining a call for change at Crescent Point Energy Corp. by endorsing two of four director nominees put forward by a dissident shareholder. Institutional Shareholder Services Inc. says in a report that investors should vote for Dallas Howe and Herbert Pinder, nominated by Cation Capital Inc., instead of Crescent Point nominees Rene Amirault and Mike Jackson at the... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (15,484.32, up 29.90 points) Champion Iron Ltd. (TSX:CIA). Miner. Down one cent, or 0.91 per cent, to $1.09 on 21.03 million shares. Cenovus Energy Inc. (TSX:CVE). Oil and gas. Down 42 cents, or 3.31 per cent, to $12.28 on 6.2 million shares. Baytex Energy Corp. (TSX:BTE). Oil and gas.... Read More

WestJet pilots get $2 million from union to help efforts to get first contract

WestJet pilots get $2 million from union to help efforts to get first contract
MONTREAL — WestJet pilots are marking their first year since choosing to unionize by receiving $2 million from the international union’s contingency fund to help with efforts to achieve a first collective agreement. Capt. Rob McFadyen, chairman of the Air Line Pilots Association master executive council, says the money will help secure a contract that reflects the contribution of pilots to... Read More

Fairfax Financial bids US$300 million for Toys R Us’s Canadian business

Fairfax Financial bids US$300 million for Toys R Us’s Canadian business
NEW YORK — Canada’s Fairfax Financial Holding has placed a bid of US$300 million to buy Toys “R” Us’s Canadian operations in bankruptcy. According to court papers filed late Thursday, the bidder is taking on a role of a “stalking horse” in a court-approved auction set for Monday in New York. That means it could be outbid in the auction... Read More

Recent retail sales far weaker than initial estimates, revisions suggest

Recent retail sales far weaker than initial estimates, revisions suggest
OTTAWA — Canadian retail sales during the crucial holiday shopping season were far lower than previously projected as consumers appeared to pull back on spending. Statistics Canada has released revised estimates for its retail-trade figures — and they are considerably weaker when compared to the initial readings published by the federal agency. The agency now estimates retail sales for November contracted 1.1 per cent compared to the previous month, which... Read More

Here’s a list of March inflation rates for selected Canadian cities

Here’s a list of March inflation rates for selected Canadian cities
OTTAWA — Canada’s national annual inflation rate was 2.3 per cent in March, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets): — St. John’s, N.L.: 1.4 per cent (1.6) — Charlottetown-Summerside: 2.4 (2.9) — Halifax: 2.4 (2.1) — Saint John, N.B.:... Read More

Spat breaks out between Tim Hortons franchisee factions over public complaints

Spat breaks out between Tim Hortons franchisee factions over public complaints
OAKVILLE, Ont. — Tim Hortons’s franchisee advisory board has waded into a war of words between the brand’s parent company and an outspoken restaurant owners association, attacking the group for publicly slandering the company and making complaints about it to the federal government and in the media. In a letter sent to fellow franchisees this week, the board says recent “negative commentary,” much of which... Read More

Pump prices, airline tickets help propel Canada’s annual inflation rate to 2.3%

Pump prices, airline tickets help propel Canada’s annual inflation rate to 2.3%
OTTAWA — Canada’s annual inflation rate continued creeping higher last month to hit 2.3 per cent. The March figure from Statistics Canada shows the pace of inflation inched a little farther past the midpoint of the central bank’s ideal range of between one and three per cent. By comparison, inflation was 2.2 per cent in February and 1.7 per cent in January. The annual pace of... Read More

Campbell Soup Company names Mississauga as site for new headquarters

Campbell Soup Company names Mississauga as site for new headquarters
MISSISSAUGA, Ont. — Campbell Soup Company says its new Canadian headquarters will open in Mississauga, Ont. It will be located in the Airport Corporate Centre region, which is a 15-minute minute drive from its soon-to-be-closed Etobicoke manufacturing plant. The company decided to shutter the 87-year-old plant in January and cut 380 jobs, citing complications with retrofitting such an old building as the reason for... Read More