Navajo Nation company ends bid to buy power plant, mine

Navajo Nation company ends bid to buy power plant, mine
ALBUQUERQUE, N.M. — One of the largest coal-fired power plants in the West will close this year as planned after a Navajo Nation company ended its long-shot bid Friday to acquire it. The Navajo Generating Station has operated for decades in northeastern Arizona near the Utah border, providing a hefty chunk of revenue to the Navajo Nation. Both the Navajo... Read More

Army Corps of Engineers grants final permit for PolyMet mine

Army Corps of Engineers grants final permit for PolyMet mine
ST. PAUL, Minn. — PolyMet Mining Corp. has received the final permit it needs to proceed with building Minnesota’s first copper-nickel mine, the company and the Army Corps of Engineers announced Friday. The Corps said it issued the permit late Tuesday. It deals with the steps PolyMet must take to mitigate the project’s effects on wetlands. The announcement said the... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (16,089.33, down 155.26 points). Bombardier Inc. (TSX:BBD.B). Industrials. Down 10 cents, or 3.55 per cent, to $2.72 on 50.1 million shares. Aurora Cannabis Inc. (TSX:ACB). Health care. Down 68 cents, or 5.32 per cent, to $12.10 on 20.4 million shares. Encana Corp. (TSX:ECA). Energy. Down 42 cents, or 4.26... Read More

Investors raise concerns on Newmont’s proposed takeover of Goldcorp

Investors raise concerns on Newmont’s proposed takeover of Goldcorp
VANCOUVER — Investors are raising concerns about Newmont Mining Corp.’s proposed takeover of Goldcorp Inc. as early April votes on the deal approach. Hedge fund giant Paulson & Co. Inc. says in a letter that it believes the US$1.5-billion premium offered to Goldcorp shareholders is unjustified given the company’s poor performance. The firm, which holds 14.2 million shares in Newmont, says it does... Read More

Crude-by-rail exports fall in January as Alberta started production cuts

Crude-by-rail exports fall in January as Alberta started production cuts
CALGARY — The National Energy Board says crude-by-rail exports in January fell compared with December, but remained more than twice as high as 12 months earlier. The federal agency reports an average of 325,500 barrels per day of oil was exported by rail in January, down from 353,800 bpd in December but well above 145,700 bpd in January 2018. It... Read More

Statistics Canada reports pace of inflation ticked higher in February

Statistics Canada reports pace of inflation ticked higher in February
OTTAWA — The annual pace of inflation edged higher in February as gains in most spending categories offset lower gasoline prices, Statistics Canada said Friday. The agency reported the consumer price index in February climbed 1.5 per cent compared with a year ago. The move compared with a year-over-over increase of 1.4 per cent in January. Economists had expected a reading of... Read More

Chinese importers have stopped buying Canadian canola seed: Industry group

Chinese importers have stopped buying Canadian canola seed: Industry group
Canola seed exporters report Chinese companies — one of their major markets — have stopped buying their product, according to an industry group. The ongoing trade dispute that started earlier this month when China revoked the permit of a major Canadian exporter is also causing woes for canola farmers, grappling with lower prices and delayed shipments. Canola seed exporters have told the... Read More

Canada’s main stock index down sharply; loonie and crude futures lower

Canada’s main stock index down sharply; loonie and crude futures lower
TORONTO — Canada’s main stock index is down sharply this morning, along with the major U.S. market benchmarks. The S&P/TSX composite index was at 16,102.51, down 142.08 points after 90 minutes of trading. That more than offsets a 77-point gain on Thursday. In New York, the Dow Jones industrial average was down 300.73 points at 25,661.78. The S&P 500 index was... Read More

Heroux-Devtek CEO appointed executive chairman, COO to be successor

Heroux-Devtek CEO appointed executive chairman, COO to be successor
LONGUEUIL, Que. — Heroux-Devtek Inc. says CEO Gilles Labbe will become executive chairman of the aerospace company’s board of directors and he’ll be succeeded as president and chief executive by Martin Brassard The aircraft parts company says the changes will be effective on June 1 as it enters a “new phase of growth.” Brassard has worked for Heroux-Devtek for 25 years, and is... Read More

BRP’s double-digit gains in Q4 profit, revenue due to strong wholesale sales

BRP’s double-digit gains in Q4 profit, revenue due to strong wholesale sales
VALCOURT, Que. — BRP Inc. says its fourth-quarter revenue was up 22.8 per cent from a year earlier, beating analyst estimates and propelling the Quebec-based company’s three-month profit to $82.7 million. The maker of Ski-Doo snowmobiles, Can-Am wheeled vehicles, boats, outboard motors and other recreational products says its fourth-quarter profit amounted to 84 cents a share, up 23.5 per cent from a year earlier. Based... Read More