Inflation eases to 2.8% as gas price growth slows; core numbers creeps up

Inflation eases to 2.8% as gas price growth slows; core numbers creeps up
OTTAWA — The country’s annual inflation rate eased to 2.8 per cent in August as still-rising gasoline prices advanced at a more-moderate pace, Statistics Canada said Friday. The agency’s latest number came in just below the previous month’s three per cent reading, which had pushed inflation to the top end of the Bank of Canada’s target range with the fastest price growth in seven years. The August result matched the expectations of economists, according to Thomson... Read More

Vancouver Island partners sign hull design contract for floating LNG project

Vancouver Island partners sign hull design contract for floating LNG project
VANCOUVER — The developer of a floating liquefied natural gas export facility proposed for Vancouver Island says it has a deal with a Korean shipbuilder for the design of two large at-shore hulls. Steelhead LNG and partner Huu-ay-aht First Nations say the agreement was signed at the Gastech Conference in Barcelona with Hyundai Heavy Industries to engineer and design the equipment... Read More

Enbridge signs deals for Enbridge Income Fund and U.S. subsidiaries

Enbridge signs deals for Enbridge Income Fund and U.S. subsidiaries
CALGARY — Enbridge Inc. has signed a deal worth $4.7 billion to acquire Enbridge Income Fund Holdings Inc. as it works to simplify its corporate structure. The company says the offer is 11.3 per cent higher than a proposal in May. Under the terms of an agreement, Enbridge Income Fund shareholders will receive 0.7350 of an Enbridge share and 45 cents... Read More

Pipeline plan coming by end of month, possibly guided by a former judge

Pipeline plan coming by end of month, possibly guided by a former judge
OTTAWA — A senior federal source says the Liberals are considering hiring a former top judge to guide a renewed consultation with Indigenous communities on the Trans Mountain pipeline expansion. The Federal Court of Appeal last month quashed the approval given to the project, saying the consultation with Indigenous communities wasn’t good enough and criticizing the lack of attention paid to the environmental impact of... Read More

Stark contrast between U.S. energy boom, Canada’s lethargy

Stark contrast between U.S. energy boom, Canada’s lethargy
Canada’s energy sector is struggling primarily because of poor government policies. The U.S. shows a way out of this mess By Elmira Aliakbari and Ashley Stedman The Fraser Institute Over the past few years, the governments of Canada and the United States have taken markedly different approaches to energy development, particularly with oil and gas. Consequently, the U.S. energy industry... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (16,001.71, down 47.31 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 81 cents, or 8.9 per cent, to $8.30 on 27.7 million shares. Aphria Inc. (TSX:APH). Health care. Down $3.52, or 16.9 per cent, to $17.30 on 19.2 million shares. RNC Minerals. (TSX:RNX). Metals. Unchanged at 24 cents on 10.7 million shares. HEXO Corp.... Read More

Shell Canada gives up exploration permits to make way for protected area

Shell Canada gives up exploration permits to make way for protected area
VANCOUVER — Shell Canada Ltd. has given up it offshore exploration rights, clearing the way for the creation of Canada’s first protected marine area under the Canada Wildlife Act. Shell voluntarily released about 50,000 square kilometres of permits in an area off northern Vancouver Island to allow for the creation of the Scott Islands marine National Wildlife Area. The permits cover an offshore area more than one-and-a-half times the... Read More

Transat AT vows to raise prices next summer after third-quarter losses

Transat AT vows to raise prices next summer after third-quarter losses
MONTREAL — Transat AT Inc. executives have pledged to raise prices next summer after a spike in fuel costs sent the carrier on course to its least-profitable third quarter in a decade. “The fuel increases happened very suddenly in a short time period. In those circumstances, often we are not able to pass those increases to consumers,” said chief operating officer Annick Guerard... Read More

AltaGas to create spin off AltaGas Canada, plans initial public offering

AltaGas to create spin off AltaGas Canada, plans initial public offering
CALGARY — AltaGas Ltd. has announced plans to spin off some of its assets to a new company called AltaGas Canada Inc., while retaining a significant minority equity interest in the business after its initial public offering. The new firm will hold the company’s Canadian rate-regulated natural gas distribution utility assets and contracted wind power in Canada, as well as a roughly 10... Read More