Toronto stock index up in first trading since holiday; U.S. indexes stage late rally

Toronto stock index up in first trading since holiday; U.S. indexes stage late rally
TORONTO — Canada’s main stock index closed up sharply following a two-day holiday, while U.S. markets rebounded from a steep drop in early trading to end higher after strong gains a day earlier. The S&P/TSX composite index closed up 385.02 points, or 2.79 per cent, at 14,165.21 following the Christmas and Boxing Day holidays. In New York, the Dow Jones industrial average closed... Read More

Enbridge gets $14.7M federal refund over Northern Gateway pipeline project

Enbridge gets $14.7M federal refund over Northern Gateway pipeline project
OTTAWA — Enbridge is getting a $14.7-million refund on fees it paid Canada’s federal energy regulator for a pipeline it won’t build. The Northern Gateway pipeline was supposed to connect Alberta’s oilpatch to a port in Kitimat, B.C., but the plan came apart when the federal Liberals banned tanker traffic from British Columbia’s northern coast. Without oil tankers to serve... Read More

Gasoline prices in most of Canada set to rise this weekend from 18-month lows

Gasoline prices in most of Canada set to rise this weekend from 18-month lows
CALGARY — Plunging world oil prices have delivered a Christmas miracle of lower gasoline prices across most of Canada but a fuel price expert says motorists should fill up now ahead of an expected increase this weekend. Dan McTeague, a senior petroleum analyst at GasBuddy.com, says gasoline prices are at near-18-month lows because of global oil prices that have tumbled... Read More

Unifor members ratify 4-year contract for 1,200 Canadian Pacific Railway employees

Unifor members ratify 4-year contract for 1,200 Canadian Pacific Railway employees
CALGARY — Canadian Pacific Railway Ltd. says Unifor members have ratified a four-year labour agreement covering about 1,200 employees responsible for maintaining rail cars and locomotives. The two sides reached a tentative agreement for Unifor Local 101R in early December. The previous contract is set to expire Dec. 31. Details of the agreement haven’t been disclosed but Unifor national president Jerry... Read More

Toronto stock index up in first trading since holiday; U.S. indexes down sharply

Toronto stock index up in first trading since holiday; U.S. indexes down sharply
TORONTO — Canada’s main stock index was up sharply following a two-day holiday, while U.S. markets plunged again after shooting upward on Wednesday. The S&P/TSX composite index was up 232.16 points at 14,012.35 in the first 90 minutes of trading at the Toronto Stock Exchange following the Christmas and Boxing Day holidays. In New York, the Dow Jones industrial average was... Read More

How long can it go? Resilient economy enters 2019 with signs of weakness

How long can it go? Resilient economy enters 2019 with signs of weakness
OTTAWA — The Canadian economy entered 2018 on an unexpectedly impressive run. The country begins 2019 on a healthy note but signs of weakness have raised a key question: how long until the good times come to an end? Through much of 2018, Canada’s unemployment rate hovered near a 40-year low and job-creation remained strong as the evidence pointed to an economy going at close to full tilt. The handoff... Read More