Suncor agrees to begin operating Syncrude by end of next year

Suncor agrees to begin operating Syncrude by end of next year
  CALGARY — Suncor Energy Inc. says it has agreed to become the operator of the Syncrude project by the end of 2021, as long as each of the joint venture’s owners grants formal approval. Suncor owns a 58.74 per cent stake in the Syncrude Joint Venture, a position it has increased from 12 per cent in 2016. Other Syncrude... Read More

Most actively traded companies on the Toronto Stock Exchange

Most actively traded companies on the Toronto Stock Exchange
  TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange: Toronto Stock Exchange (17,094.53, up 75.43 points) Suncor Energy Inc. (TSX:SU). Energy. Up $1.75, or 8.68 per cent, at $21.92 on 19.79 million shares. Manulife Financial Corp. (TSX:MFC). Financials. Up 21 cents, or 0.98 per cent, at $21.71 on 17.56 million shares. Bombardier Inc.... Read More

North American stock markets rise as vaccine news boosts energy sector

North American stock markets rise as vaccine news boosts energy sector
  TORONTO — Canada’s main stock index rose alongside U.S. markets, as news of another COVID-19 vaccine boosted investors’ outlook for the economy and oil demand. The S&P/TSX composite index was up 75.43 points at 17,094.53. In New York, the Dow Jones industrial average was up 327.79 points at 29,591.27, the S&P 500 index was up 20.05 points at 3,577.59,... Read More

Kerr Mines and Star Royalties Close US$18 Million Project Financing for Restart of the Copperstone Gold Mine

Kerr Mines and Star Royalties Close US$18 Million Project Financing for Restart of the Copperstone Gold Mine
TORONTO – Kerr Mines Inc. (TSX: KER, OTC: KERMF) and Star Royalties Ltd. jointly announced the closing of the first installment of their previously announced US$18,000,000 gold purchase and sale agreement which will be used to finance the restart of underground operations and gold production at the Copperstone Gold Mine in Arizona, USA. Giulio T. Bonifacio, Chief Executive Officer of Kerr, stated:... Read More

Bank of Canada keeping close eye on household debt as pandemic drags on, deputy says

Bank of Canada keeping close eye on household debt as pandemic drags on, deputy says
  OTTAWA — One of Canada’s top central bankers says the Bank of Canada is keeping a close eye on household debt that were already elevated before COVID-19. The Bank of Canada had warned that a recession could easily strain the financial system and the debt load being carried by households. Deputy governor Toni Gravelle said Monday that fear hasn’t... Read More

Online shopping set to hit record this year in Canada

Online shopping set to hit record this year in Canada
  OTTAWA — Statistics Canada says online sales are set to hit a record this year, amid limits on in-person shopping during the COVID-19 pandemic. The new data is in line with Statistics Canada’s estimates from the spring, when retail e-commerce sales more than doubled from February to May. The agency says online shopping fell this summer from its high... Read More

Small businesses seek changes to Ontario lockdown rules as big box stores remain open

Small businesses seek changes to Ontario lockdown rules as big box stores remain open
TORONTO — The country’s largest organization of small businesses is calling on the Ontario government to think twice about its lockdown policies that force most small businesses to shut down while leaving big box retailers open. The Canadian Federation of Independent Business says lockdown restrictions imposed on Monday in Toronto and nearby Peel Region allow big box stores like Costco... Read More

Sherritt International CEO David Pathe stepping down after completing restructuring

Sherritt International CEO David Pathe stepping down after completing restructuring
  TORONTO — Sherritt International Corp. says president and CEO David Pathe intends to step down from his role in 2021 but will stay on until a replacement is in place. The company says Pathe’s eight years as leader were marked by difficult and unpredictable nickel prices and financial threats posed by its participation in the Ambatovy nickel mine in... Read More

Google faces UK scrutiny over new advertising data revamp

Google faces UK scrutiny over new advertising data revamp
  LONDON — Google faces fresh regulatory scrutiny in Britain over plans to revamp its ad data system, after a group of competitors complained to regulators that the changes would cement the U.S. tech giant’s online dominance. Marketers for an Open Web, a coalition of technology and publishing companies, said Monday that it’s urging the U.K. competition watchdog to step... Read More

IAMGOLD Announces Temporary Workforce Reduction at Its Westwood Gold Mine

IAMGOLD Announces Temporary Workforce Reduction at Its Westwood Gold Mine
  TORONTO – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) announced that it is temporarily reducing the underground workforce at its Westwood mine in Canada. Westwood underground remains suspended following the seismic event reported earlier this month. The temporary reduction affects approximately 437 workers, or approximately 70% of the underground workforce. As reported on November 2, 2020, the cause of the... Read More