Buffet decision shows LNG projects on shaky political, economic ground: report

Buffet decision shows LNG projects on shaky political, economic ground: report
OTTAWA — A new report is holding up legendary investor Warren Buffett’s decision to walk away from a proposed liquefied natural gas project in Quebec as one sign that the LNG sector in Canada and elsewhere is on shaky ground. The Global Energy Monitor report says Buffett’s move underscores the growing political and economic uncertainty that LNG projects are facing... Read More

North American stock markets finish higher, loonie up

North American stock markets finish higher, loonie up
TORONTO — Canada’s main stock index finished higher, driven by gains in the materials, industrial and financial sectors. The S&P/TSX composite index ended the session up 72.92 points at 15,670.00. In New York, the Dow Jones industrial average closed up 459.67 points at 26,287.03. The S&P 500 index was up 49.71 points at 3,179.72, while the Nasdaq composite was up 226.02 points at... Read More

Cannabis retailer Fire & Flower unveils pilot stores in Circle K partnership

Cannabis retailer Fire & Flower unveils pilot stores in Circle K partnership
EDMONTON — Fire & Flower Holdings Inc. has unveiled the first examples of its new cannabis retail partnership with the owner of Circle K convenience stores and gasoline bars. The Edmonton-based cannabis company says it expects to benefit from high-traffic Circle K locations while complying with all applicable regulations. Its partner is Quebec-based Alimentation Couche-Tard Inc., which acquired 9.9 per cent of Fire &... Read More

Global oil demand rebound from pandemic’s lows prompts price spike forecasts

Global oil demand rebound from pandemic’s lows prompts price spike forecasts
CALGARY — Oil analysts say a rebound in the world’s hunger for oil has already started after demand destruction caused by the COVID-19 pandemic fell far short of what many experts had expected. Amrita Sen, co-founder and director of research for international consultancy Energy Aspects, says the bounce in demand will outstrip the ability of producers to restore supply, resulting in average Brent oil prices rising from... Read More

Canopy Growth worker tests positive for COVID-19, eight more to undergo testing

Canopy Growth worker tests positive for COVID-19, eight more to undergo testing
SMITHS FALLS, Ont. — Canopy Growth Corp. says an employee at its Smiths Falls, Ont. facility has tested positive for COVID-19. Jordan Sinclair, the cannabis company’s vice-president of communications, says in an email to The Canadian Press that the infected employee was last at work on June 25. Sinclair says eight people that were in contact with that employee are... Read More

Bank of Canada survey says business hiring plans remain muted due to pandemic

Bank of Canada survey says business hiring plans remain muted due to pandemic
OTTAWA — Companies that have laid off workers are telling the Bank of Canada they plan to refill some positions over the next year, but many hiring plans remain muted over COVID-19-related uncertainty. The bank’s quarterly business outlook survey published Monday suggests many service sector and energy companies don’t expect a return to pre-pandemic employment levels. About one-third say they... Read More

Judge orders Dakota Access pipeline shut down pending review

Judge orders Dakota Access pipeline shut down pending review
FARGO, N.D. — A federal judge on Monday ordered the Dakota Access pipeline shut down pending a more thorough environmental review, handing a victory to the Standing Rock Sioux Tribe three years after the pipeline first began carrying oil following months of protests. Tribal Chairman Mike Faith called it a historic day for the Standing Rock Sioux and for those... Read More

North American stock markets up to start the trading week, loonie up

North American stock markets up to start the trading week, loonie up
TORONTO — Canada’s main stock index posted a triple-digit advance in late-morning trading, powered by gains in the materials, industrial and financial sectors. The S&P/TSX composite index was up 141.38 points at 15,738.13. In New York, the Dow Jones industrial average was up 375.35 points at 26,202.71. The S&P 500 index was up 49.17 points at 3,179.18, while the Nasdaq composite... Read More

Uber buys Postmates, ups delivery game in $2.65 billion deal

Uber buys Postmates, ups delivery game in $2.65 billion deal
SILVER SPRING, Md. — Uber has widened its reach in the fiercely competitive delivery market by acquiring Postmates in a $2.65 billion all-stock deal, the company said Monday. The acquisition enables the ride-hailing giant to increase its delivery offerings at a time when the global pandemic has suppressed customers’ desire for rides while boosting home delivery needs. While Uber’s meal... Read More

Tories, NDP at odds over federal spending as Liberals prepare fiscal snapshot

Tories, NDP at odds over federal spending as Liberals prepare fiscal snapshot
OTTAWA — Opposition parties have laid out their demands for the federal Liberal government as Ottawa prepares to update Canadians on the country’s finances after four months of COVID-19 — and where it expects the economy to head for the rest of the year. Wednesday’s fiscal snapshot will be the first public assessment of the country’s economic and financial situation since... Read More