Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail

Oilsands producer MEG Energy posts $199M loss, vows to ship more oil by rail
CALGARY — Oilsands producer MEG Energy says it has doubled its crude-by-rail shipments and will double them again to maximize prices in view of insufficient pipeline export capacity from Western Canada. The Calgary-based company says steep discounts for the bitumen it produces at its northern Alberta steam-driven project resulted in a net loss of $199 million or 67 cents per share... 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 (16,056.51, down 35.56 points). Aurora Cannabis Inc. (TSX:ACB). Health care. Down 39 cents, or 3.68 per cent, to $10.20 on 17.3 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Down 25 cents, or 1.1 per cent, to $22.23 on 12.9 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up five cents, or 1.77... Read More

Airbnb acquires last-minute booking service HotelTonight

Airbnb acquires last-minute booking service HotelTonight
SAN FRANCISCO — Airbnb is acquiring last-minute booking service HotelTonight in order to boost its offerings. The two San Francisco-based companies announced the deal Thursday. Terms weren’t revealed. HotelTonight co-founder and CEO Sam Shank will lead Airbnb’s boutique-hotel category. HotelTonight will operate separately, offering discounted rooms for last-minute trips. It has partnerships with thousands of hotels in North and South... Read More

Central bank’s longer slump call, rate-hike doubts followed weak data surprise

Central bank’s longer slump call, rate-hike doubts followed weak data surprise
OTTAWA — A top Bank of Canada official says doubts raised this week about future interest-rate hikes came after the central bank’s governing council was caught off guard by surprisingly weak economic data. In prepared remarks of a speech today in Hamilton, deputy governor Lynn Patterson says the Bank of Canada’s policy-makers had been expecting a slowdown in the energy sector in the final three months of 2018.... Read More

Growing trend of solo living creating opportunities for businesses

Growing trend of solo living creating opportunities for businesses
TORONTO — One of the fastest-growing demographics in Canada and around the world has long been ignored by mainstream businesses and politicians, but that may be about to change. “Society is geared towards families,” says Jean-Pierre Bissonnette, a 52-year-old single medical physicist at the Princess Margaret Hospital who counts himself as part of a growing cohort of people who choose to live... Read More

SNC-Lavalin selected to build next phase of Ottawa’s light-rail transit system

SNC-Lavalin selected to build next phase of Ottawa’s light-rail transit system
MONTREAL — SNC-Lavalin Group Inc. says it has won the contract for a $660-million light-rail extension project in Ottawa. The Montreal-based engineering and construction giant caught up in a month-long political controversy says its subsidiary, TransitNEXT, will design, build and maintain an additional 16 kilometres of track along the city’s Trillium Line. The southward extension will fork to connect the existing line... Read More

Recipe Unlimited Corp. raises dividend by 5%, reports profit down

Recipe Unlimited Corp. raises dividend by 5%, reports profit down
VAUGHAN, Ont. — Recipe Unlimited Corp. raised its dividend five per cent as its profit fell in its most recent quarter, hurt by restructuring and other costs. The company formerly known as Cara Operations says its profit for the 13 weeks ending Dec. 30, 2018, totalled$9 million or 14 cents per diluted share, down from $27.3 or 45 cents per diluted share... Read More

North American stock markets down in late-morning trading, loonie edges lower

North American stock markets down in late-morning trading, loonie edges lower
TORONTO — Canada’s main stock index fell in late-morning trading, weighed down by the key financial, energy and industrials sectors, while U.S. markets also moved lower. The S&P/TSX composite index was down 50.70 points at 16,041.37. In New York, the Dow Jones industrial average was down 253.33 points at 25,420.13. The S&P 500 index was down 21.89 points at 2,749.56,... Read More

5 tips on avoiding big medical bills on vacation; pre-existing condition a risk

5 tips on avoiding big medical bills on vacation; pre-existing condition a risk
TORONTO — Many Canadians are gearing up to fly to warmer climes as the March break holiday approaches, but some may return home with hefty medical bills if they don’t read the fine print on their travel insurance policy. One key element that can lead to your insurance claim being denied is an existing medical issue, or what’s known as a pre-existing... Read More

Sidewalk Labs may lose interest in Quayside project if transit isn’t built, CEO says

Sidewalk Labs may lose interest in Quayside project if transit isn’t built, CEO says
TORONTO — The chief executive officer of an Alphabet-backed entity planning a high tech neighbourhood in Toronto revealed Thursday that mass transit might be the project’s deal breaker. Dan Doctoroff of Sidewalk Labs told The Canadian Press in an interview that his company may lose interest in the project if transit to the area isn’t built. “At the end of the day, if there... Read More