CP Rail to acquire railway that owns tracks involved in Lac-Megantic disaster

CP Rail to acquire railway that owns tracks involved in Lac-Megantic disaster
Canadian Pacific Railway Ltd. has entered into a US$130-million deal to acquire the Central Maine and Quebec Railway, which operates the tracks at the centre of the Lac-Megantic disaster in 2013. CP Rail and Fortress Transportation and Infrastructure Investors LLC, a New York investment firm, announced a definitive agreement for 774 kilometres of track that provides access to ports in... Read More

Pembina Pipeline deal with Kinder Morgan cleared by Competition Bureau

Pembina Pipeline deal with Kinder Morgan cleared by Competition Bureau
CALGARY — Pembina Pipeline Corp. says the Canadian Competition Bureau has signed off on its $4.3-billion deal to buy assets from Kinder Morgan Inc. The Calgary-based company says the receipt of the “no-action letter” from the bureau clears the final regulatory hurdle for the deal to go through. Pembina announced in August that it would buy Kinder Morgan Canada Ltd. and the U.S. portion... Read More

Bitfarms still betting on Quebec despite growing pains in cryptocurrency field

Bitfarms still betting on Quebec despite growing pains in cryptocurrency field
MONTREAL — Bitfarms marketed itself last spring as a socially conscious company, harnessing unused, sustainable hydroelectricity to help power Quebec’s digital economy while also providing much-needed revenue for the province’s struggling regions. But since that time, the cryptocurrency mining firm has run into difficulties. Bitfarms lost its president and co-founder last month, along with three managers and other lower-level staff. Its stock price is trading roughly 30 per... Read More

Investor vows to vote against Encana moving HQ from Calgary to Denver

Investor vows to vote against Encana moving HQ from Calgary to Denver
CALGARY — A Canadian investment management firm with a four per cent stake in Calgary-based Encana Corp. says it will vote against Encana’s plan to move its headquarters to the United States. Letko, Brosseau & Associates Inc. says the planned move to Denver would lead to Encana’s removal from S&P/TSX stock indexes. That would mean investors holding Encana through indexed Canadian funds... Read More

OSC moving forward with 107 initiatives to simplify capital markets burden

OSC moving forward with 107 initiatives to simplify capital markets burden
TORONTO — Ontario’s securities regulator says it will allow small and medium-sized firms to outsource compliance functions as part of more than 100 actions designed to simplify the burden to do business in the province’s capital markets. The Ontario Securities Commission says the changes announced Tuesday will result in enhanced service levels, less duplication and a more tailored regulatory approach. The... Read More

Buying your first stock requires lots of research before you take the plunge

Buying your first stock requires lots of research before you take the plunge
When Robin Speziale entered Grade 10, his teacher dropped a business newspaper on a desk in front of his class and asked each student to circle a stock to spend the semester tracking. While most classmates lost interest when the term ended, Speziale was enamoured. By 30, the Toronto man had built a stock portfolio worth $300,000 and written a... Read More

Grain shippers worried about strike as feds urge CN and union to continue talks

Grain shippers worried about strike as feds urge CN and union to continue talks
MONTREAL — Grain shippers are concerned about the impact of a strike by about 3,200 Canadian National Railway Co. workers in an already tough harvest year. The Teamsters Canada Rail Conference announced the work stoppage Monday night after the two parties failed to reach a deal by the midnight deadline. Conductors, trainpersons and yard workers were on the picket lines, halting freight trains... Read More

Trans Mountain received $320M in government subsidies in first half 2019: report

Trans Mountain received $320M in government subsidies in first half 2019: report
VANCOUVER — The Trans Mountain pipeline received $320 million in subsidies from the Canadian and Alberta governments in the first half of 2019, says a new report by an economic institute that analyzes environmental issues. The money included $135.8 million in direct subsidies and $183.8 million in indirect subsidies that were not clearly disclosed to taxpayers, says the report by the... Read More

Tribunal upholds Toronto rules on short-term rentals like Airbnb

Tribunal upholds Toronto rules on short-term rentals like Airbnb
TORONTO — An Ontario tribunal has upheld rules passed by the City of Toronto on short-term rentals like Airbnb. The Local Planning Appeal Tribunal says it has dismissed an appeal by several residents who objected to the rules that put limits on how people can rent out their properties. Tribunal member Scott Tousaw says in his ruling that while the exact numbers involved are in dispute, it’s... Read More