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

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

DavidsTea swings to loss on charges but says e-commerce improving

DavidsTea swings to loss on charges but says e-commerce improving
MONTREAL — DavidsTea Inc. says it swung to a loss in its last quarter as onerous contract charges and impairments weighed on its balance sheet. The specialty tea retailer says it had a loss of $16.1 million for the fourth quarter ending Feb. 3, compared with net income of $2 million for the same quarter last year. The company says the charges included... Read More

Rogers Q1 profit, adjusted earnings soar on revenue growth

Rogers Q1 profit, adjusted earnings soar on revenue growth
TORONTO — Rogers Communications Inc. saw its first-quarter profit soar from the same time last year as its wireless division experienced a growth spurt that exceeded analyst estimates. The wireless, cable, internet and media company’s net profit was $425 million, up 37 per cent from $310 million in the comparable period last year. Adjusted earnings grew even more, rising by... Read More

Canadian Pacific starting operations shutdown ahead of possible strike

Canadian Pacific starting operations shutdown ahead of possible strike
CALGARY — Canadian Pacific Railway says it has begun shutting down train operations ahead of a possible strike set to start Saturday by two unionized workforces. The company says it has an embargo application in place on shipments going to or from CP’s Canadian locations that will take effect just after midnight on April 21. Canadian Pacific says it continues to bargain with both... Read More

Boralex signs deal to buy French wind power company Kallista Energy Investment

Boralex signs deal to buy French wind power company Kallista Energy Investment
MONTREAL — Boralex Inc. has signed a deal to acquire wind power company Kallista Energy Investment SAS from Ardian Infrastructure in a move to grow its operations in France. The Canadian power producer has agreed to pay $202 million and assume $146.7 million in project debt. The deal will give Boralex 163 megawatts of wind power projects in operation, a... Read More

Great-West Lifeco Inc. acquires strategic investment in Irish company

Great-West Lifeco Inc. acquires strategic investment in Irish company
WINNIPEG — Great-West Lifeco Inc. has signed a deal to acquire a strategic investment in Invesco Ltd. (Ireland), an employee benefit consulting and private wealth management firm. Financial terms of the deal done by Great-West’s subsidiary Irish Life Group Ltd. were not immediately available. Invesco is expected to continue to operate independently under its existing brand and with the same senior... Read More