Better prices and new pipelines expected to drive higher Canadian crude output

Better prices and new pipelines expected to drive higher Canadian crude output
CALGARY — The Canadian Energy Research Institute says a pipeline capacity gap that is impeding the movement of Western Canada’s crude to market will close by 2021 and there will be surplus capacity from about 2022 until 2030. In a forecast based on financial modelling, the Calgary-based think-tank calls for the Enbridge Line 3 and Trans Mountain expansion pipelines to... Read More

Competition heating up for price-sensitive passengers as Swoop set to launch

Competition heating up for price-sensitive passengers as Swoop set to launch
MONTREAL — Competition is heating up for Canada’s most price-sensitive travellers as WestJet Airlines gears up to launch the country’s second ultra-low cost airline Wednesday. Swoop, an offshoot of WestJet Airlines, will make its maiden flight on its pink and white aircraft before the sun rises in Hamilton, Ont. on a trip to Abbotsford, B.C. “From my perspective coming into this fresh — I’ve been in... Read More

Audi CEO detained in diesel emissions case

Audi CEO detained in diesel emissions case
BERLIN — German authorities on Monday detained the chief executive of Volkswagen’s Audi division, Rupert Stadler, as part of a probe into manipulation of emissions controls. The move follows a search last week of Stadler’s private residence, ordered by Munich prosecutors investigating the manager on suspicion of fraud and indirect improprieties with documents. “Audi CEO Rupert Stadler was provisionally arrested... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Reading the BoC tea leaves Deputy Bank of Canada governor Lynn Patterson will speak before the Investment Industry Association of Canada on interest-rate benchmarks on Monday. The central bank has raised its key interest rate target three times since last summer and is expected... 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 (16,328.96, up 63.14 points) Nemaska Lithium Inc. (TSX:NMX). Miner. Down three cents, or 3.09 per cent, to 94 cents on 5.04 million shares. Katanga Mining Ltd. (TSX:KAT). Miner. Down nine cents, or 6.67 per cent, to $1.26 on 4.8 million shares. Yamana Gold Inc. (TSX:YRI). Miner. Up 22 cents,... Read More

Transat: difficult to offset higher fuel prices with higher fares for customers

Transat: difficult to offset higher fuel prices with higher fares for customers
MONTREAL — Transat AT Inc. expects to have a more difficult summer season than last year as a result of a sudden increase in jet fuel prices since April and limited ability to pass along the cost to customers, senior executives told analysts Thursday. Annick Guerard, the travel company’s chief operating officer, said on a conference call that “we see most of the... Read More

Crude-by-rail exports hit three-year high as Canadian oil discounts rise

Crude-by-rail exports hit three-year high as Canadian oil discounts rise
CALGARY — Railway exports of crude oil from Western Canada are starting to increase, a welcome sign for producers who were forced to accept bigger price discounts and, in some cases, curtail production, as export pipelines filled to near capacity earlier this year. Crude-by-rail exports to the United States jumped to a three-year high in March of just over 170,000 barrels per day, the highest... Read More

Canada faces new trade test from Italy as feds battle challenges on many fronts

Canada faces new trade test from Italy as feds battle challenges on many fronts
OTTAWA — Add Italy to growing list of trade headaches facing Canada. Italy’s Agriculture Minister Gian Marco Centinaio is reported as saying Italy won’t ratify the Canada-European Union free trade accord and that he’s heard doubts about it from many of his European colleagues. The development adds to Canada’s significant trade challenges — which already include deep uncertainty surrounding the future of the North American Free Trade Agreement and hefty steel... Read More

Husky wants to build Saskatchewan oil pipeline, replace one that leaked in 2016

Husky wants to build Saskatchewan oil pipeline, replace one that leaked in 2016
PRINCE ALBERT, Sask. — The company behind the 2016 oil spill that fouled the North Saskatchewan River and threatened the water supply of Prince Albert and other communities wants to build new pipelines to replace the structure that leaked. Husky Energy held an open house Wednesday in Prince Albert to discuss its proposal. Calgary-based Husky says its plan calls for... Read More

Union at Halifax shipyard building Royal Canadian Navy ships gives strike notice

Union at Halifax shipyard building Royal Canadian Navy ships gives strike notice
HALIFAX — The union at the Halifax shipyard where some of the Royal Canadian Navy’s new ships are being built has given 48-hour strike notice, with picket lines expected to go up Saturday morning. A news release issued late Wednesday by Unifor says a strong majority of the unionized employees at Irving’s Halifax Shipyard have rejected a tentative contract. Unifor Marine... Read More