Alberta crude oil curtailments remain unchanged despite price recovery

Alberta crude oil curtailments remain unchanged despite price recovery
CALGARY — Alberta Energy Minister Marg McCuaig-Boyd says the province is leaving its oil curtailment levels at 325,000 barrels per day for now despite discounts for western Canadian crude that have narrowed to three-and-a-half-year lows. According to Net Energy Exchange, the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate was about US$8.25 per barrel on Wednesday,... 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

Airbus starts work on A220 assembly line six months after Bombardier sold jetliner

Airbus starts work on A220 assembly line six months after Bombardier sold jetliner
MONTREAL — Airbus SE broke ground Wednesday on the A220 aircraft assembly line at its facility in Mobile, Ala., the first step in a US$300-million construction project paid for by Bombardier Inc. That amount makes up a chunk of the US$925 million the Quebec plane-and-train maker could shell out by the end of 2021 under a partnership that saw Airbus to take control of the C Series — now... Read More

Financial sector helps lift Toronto stocks, U.S. stocks also climb higher

Financial sector helps lift Toronto stocks, U.S. stocks also climb higher
TORONTO — Gains in the financial sector helped Canada’s main stock index head higher in late-morning trading. The S&P/TSX composite index was up 35.28 points at 15,081.56. In New York, the Dow Jones industrial average was up 123.79 points at 24,189.38. The S&P 500 index was up 8.28 points at 2,618.58, while the Nasdaq composite was up 27.94 points at 7,051.77.... Read More

Sinclair debuts streaming service for its local TV stations

Sinclair debuts streaming service for its local TV stations
NEW YORK — Sinclair Broadcast wants to “Stirr” up streaming. The nation’s largest owner of television stations launched a free, ad-supported streaming service Wednesday drawing on local news, sports and other programs from the 191 TV stations it owns in 89 U.S. markets. Sinclair said the motivation behind Stirr is in part to help viewers “access the local news and... Read More

Sears staves off liquidation, stores to remain open

Sears staves off liquidation, stores to remain open
NEW YORK — Sears will live on— at least for now. The company’s chairman and largest shareholder, Eddie Lampert, won a bankruptcy auction for Sears, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The person agreed to speak on condition of anonymity because they were not authorized to discuss the negotiation publicly. Lampert is... Read More

Huawei founder says company would not share user secrets

Huawei founder says company would not share user secrets
SHENZHEN, China — The founder of China’s Huawei, the world’s biggest supplier of network gear to phone and internet companies, says his company would not share secrets about its customers and their communication networks. Ren Zhengfei spoke in a rare meeting with foreign reporters as Huawei Technologies Ltd. tries to protect its access to global telecom carriers that are investing... Read More