B.C. posts $1.5B surplus as tax revenue increases and real estate market cools

B.C. posts $1.5B surplus as tax revenue increases and real estate market cools
VICTORIA — The British Columbia government ended its fiscal year in an operating surplus of $1.5 billion with the collection of more revenue from taxation and less money from a softening real estate market. The 2018-19 public accounts released today by Finance Minister Carole James show that the province has eliminated its operating debt for the first time in 40 years. The... Read More

RNC Minerals CEO resigns for personal reasons effective immediately

RNC Minerals CEO resigns for personal reasons effective immediately
TORONTO — RNC Minerals says its president and chief executive has resigned effective immediately for personal reasons. Mark Selby was appointed CEO in 2014, about four years after joining Royal Nickel Corp., as it was previously called, as senior vice-president business development. Executive board chairman Paul Andre Huet has been appointed interim CEO. Huet has more than 30 years of mining industry experience, including serving as president... 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 (16,494.23, up 10.02 points). Bombardier Inc. (TSX:BBD.B). Down eight cents, or 3.64 per cent, to $2.12 on 9.5 million shares. Barrick Gold Corp. (TSX:ABX). Materials. Up 63 cents, or 2.89 per cent, to $22.46 on 8.4 million shares. Encana Corp. (TSX:ECA). Energy. Down 14 cents, or 2.4 per cent,... Read More

Hibernia suspends oil production after 12,000-litre spill off Newfoundland

Hibernia suspends oil production after 12,000-litre spill off Newfoundland
ST. JOHN’S, N.L. — Oil production is temporarily shut down on the Hibernia oil platform off Newfoundland’s east coast after about 12,000 litres spilled out of a storage container into the ocean. A report on the website of the Canada-Newfoundland and Labrador Offshore Petroleum Board says the oil sheen resulting from the spill was seen on Wednesday. Scott Sandlin, president... Read More

North American stock markets end two-day slide as gold prices offset oil slide

North American stock markets end two-day slide as gold prices offset oil slide
TORONTO — North American stock markets ended a two-day slide as the rising price of gold offset the impact of falling oil prices. The S&P/TSX composite index closed up 10.02 points at 16,494.23. In New York, the Dow Jones industrial average was up 3.12 points at 27,222.97. The S&P 500 index was up 10.69 points at 2,995.11, while the Nasdaq composite was up 22.04... Read More

Alberta oil and gas producer cleanup cost estimates set too low, says coalition

Alberta oil and gas producer cleanup cost estimates set too low, says coalition
CALGARY — The Alberta Liabilities Disclosure Project says the province’s largest oil and gas companies are underestimating how much it will cost to clean up thousands of oil and gas wells drilled over past decades. The coalition of landowners, environmentalists and others is unveiling a list of companies and its estimate of how much it would cost each to remediate its properties if it... Read More

Mexican airline Grupo Aeromexico reviewing PLM Premier partnership with Aimia

Mexican airline Grupo Aeromexico reviewing PLM Premier partnership with Aimia
MONTREAL — Grupo Aeromexico is reviewing its partnership with Aimia Inc., the latest problem for the loyalty analytics company which is facing a fight with a group of its shareholders. The Mexican airline says it is “re-evaluating all aspects of its customer loyalty strategy.” Aeromexico holds a 51.9 per cent stake in PLM Premier which runs Club Premier, the airline’s... Read More

EU fines chipmaker Qualcomm for ‘predatory pricing’

EU fines chipmaker Qualcomm for ‘predatory pricing’
BRUSSELS — In yet another European Union move against a U.S. tech giant, the bloc’s antitrust chief on Thursday fined chipmaker Qualcomm $271 million, accusing it of “predatory pricing” to drive a competitor out of the market. EU Antitrust Commissioner Margrethe Vestager said Qualcomm was abusing its market dominance in 3G baseband chipsets. She said it sold them below the... Read More

Ontario Real Estate Association calls on Ottawa for relaxed mortgage rules

Ontario Real Estate Association calls on Ottawa for relaxed mortgage rules
TORONTO — The Ontario Real Estate Association is calling for less stringent mortgage rules in a rebuttal aimed at the head of the Canada Mortgage and Housing Corp. OREA chief executive Tim Hudak says in a letter to federal policy-makers that Ottawa should consider restoring 30-year insured mortgages, ease up on the interest rate stress test, and eliminate the test... Read More