Inflation accelerates as higher airfares, vegetable prices offset cheaper gas

Inflation accelerates as higher airfares, vegetable prices offset cheaper gas
OTTAWA — Canada’s annual inflation rate accelerated to two per cent last month as higher costs for airfares and fresh vegetables offset cheaper prices at the pump. Statistics Canada says year-over-year consumer prices picked up their pace in December after inflation was just 1.7 per cent in November. Economists had expected a year-over-year increase of 1.7 per cent for December, according to Thomson Reuters Eikon. Compared... Read More

Husky shares rise and MEG stock plunges after oilsands takeover offer withdrawn

Husky shares rise and MEG stock plunges after oilsands takeover offer withdrawn
CALGARY — Shares in MEG Energy Corp. plunged Thursday morning after Husky Energy Inc. abandoned its hostile takeover bid for the company. Husky, the much larger of the two oilsands-producing Calgary firms, shocked observers when it announced it would not extend the offer that expired Wednesday without receiving the needed two-thirds support. “Although this doesn’t drastically alter our investment thesis on Husky, as it was fairly... Read More

Wait until Trans Mountain pipe built before buying in, Indigenous investors told

Wait until Trans Mountain pipe built before buying in, Indigenous investors told
CALGARY — The consultant who helped broker a $545-million investment by two northern Alberta Indigenous communities in a new Suncor Energy Inc. storage tank farm says similar stakes in the Trans Mountain pipeline shouldn’t take place until after its expansion is built. Barrie Robb, a principal with Fivars Consulting Ltd. of Calgary, says he would advise Indigenous groups to ensure... Read More

Agency to investigate possible freight rail problems in Vancouver

Agency to investigate possible freight rail problems in Vancouver
GATINEAU, Que. — The National Transportation Agency will investigate possible problems with freight train service issues in the Vancouver area including whether rail companies are fulfilling their obligations. The agency said in a news release Monday that it’s the first time it is using its new authority to launch such an investigation, which will also determine whether there was discriminatory treatment of certain commodities.... Read More

Volkswagen to build electric vehicles at Tennessee plant

Volkswagen to build electric vehicles at Tennessee plant
German automaker Volkswagen said Monday its factory in Tennessee will be the focus of an $800 million investment in the company’s manufacturing of electric vehicles in North America, a sign of a growing push into the electric car market by European companies. Volkswagen made a couple of announcements that it will expand its plant in Chattanooga and create 1,000 jobs... Read More

Air Canada and Jazz parent extend agreement, securing regional airline’s future

Air Canada and Jazz parent extend agreement, securing regional airline’s future
MONTREAL — Air Canada and Chorus Aviation Inc. have extended a purchase agreement by 10 years that will see Chorus subsidiary Jazz Aviation LP continue to provide Canada’s biggest airline with regional service through to 2035. Analysts say the deal will quell concerns around Chorus’s future after Air Canada announced last February it would expand its Rouge fleet and fly the lower-cost airplanes on Canadian... Read More

Ford to shake up European business, cut jobs

Ford to shake up European business, cut jobs
FRANKFURT — Ford Motor Co. says it is cutting jobs in Europe in a wide-ranging restructuring as it focuses on its most profitable models and shifts production towards electric cars. In a statement, the company said Thursday that “structural cost improvements will be supported by a reduction of surplus labour,” both hourly and salaried. The Dearborn, Michigan-based company didn’t reveal... Read More

WestJet apologizes to passengers who were stranded in Cancun for 33 hours

WestJet apologizes to passengers who were stranded in Cancun for 33 hours
WestJet Airlines Ltd. has announced it will launch an investigation after passengers spent an extra day and a half in Mexico over the weekend, many without the hotel rooms the airline had said would be made available following a cancelled international flight. About 135 passengers bound for Ottawa found themselves stranded in Cancun Saturday after a pair of mechanical issues caused a four-hour flight delay and... Read More

Harley-Davidson’s new electric motorbikes aim to lure millennials

Harley-Davidson’s new electric motorbikes aim to lure millennials
MILWAUKEE — Harley-Davidson Inc. is rolling out its first electric motorcycle, with deliveries to 20 dealers across Canada expected by fall. The new bike, dubbed the LiveWire, represents a new direction for the Wisconsin-based company as it tries to reignite faltering motorcycle sales. With its no-emissions ride, Harley joins the ranks of California-based Zero Motorcycles, which has produced electric motorbikes for nearly a decade. The... Read More

Bombardier signs US$669M rail car deal with N.J., but no work north of border

Bombardier signs US$669M rail car deal with N.J., but no work north of border
MONTREAL — Bombardier Inc. has signed a US$669-million deal to provide 113 commuter rail cars to New Jersey. The company says the contract will yield no additional work in Canada, with Buy American rules prompting Bombardier’s plant in Plattsburgh, N.Y., to build the multi-level cars, rather than its facility in Quebec. As of 2018, at least 65 per cent of... Read More