To hit environment goals, feds should create ‘super’ tax credit, report says

To hit environment goals, feds should create ‘super’ tax credit, report says
OTTAWA — A government-struck expert panel is calling for new “super-deduction” tax credits as a carrot for Canadians to park their retirement savings in climate-conscious investments. The report this morning to Finance Minister Bill Morneau says the government should let people deduct more than 100 per cent of retirement contributions they put into investments such as bonds that help reduce greenhouse-gas emissions. The panel expects the... Read More

Transat sees second-quarter profits fall as Air Canada takeover talks continue

Transat sees second-quarter profits fall as Air Canada takeover talks continue
MONTREAL — A Quebec developer seeking to outbid Air Canada with a takeover proposal for Transat AT Inc. says he will hand a formal offer to the tour operator before Transat’s exclusive talks with Air Canada end on June 26. “We will file one, because they’e asking for one,” Group Mach Inc. chief executive Vincent Chiara told The Canadian Press.... Read More

Crude oil production to reach 5.86 million barrels per day by 2035: CAPP

Crude oil production to reach 5.86 million barrels per day by 2035: CAPP
CALGARY — The Canadian Association of Petroleum Producers is projecting Canadian crude oil production will increase by 1.27 million barrels per day to 5.86 million by 2035. The association’s latest forecast predicts total production in Western Canada will reach 5.76 million barrels per day in 2035 compared with 4.36 million in 2018. Production in Eastern Canada is forecast to peak at 354,000... Read More

Liberals set to unveil social-finance strategy, including $755M in new fund

Liberals set to unveil social-finance strategy, including $755M in new fund
OTTAWA — The federal government is to unveil its promised strategy today, planning to use hundreds of millions of dollars in federal funding to finance new, experimental ways to deliver social services. Social Development Minister Jean-Yves Duclos is scheduled to make a mid-day announcement in Montreal. The Liberals have been crafting a strategy for social finance, as it’s known, for years,... Read More

Thousands hear anti-Ottawa messages at pro-pipeline rally in Calgary

Thousands hear anti-Ottawa messages at pro-pipeline rally in Calgary
CALGARY — Anger was on full display under the hot spring sun as thousands of oil and gas industry supporters gathered on the Calgary Stampede grounds to hear speakers take turns blasting the federal Liberal government for policies they blame for the sector’s low level of activity and investment. Organizers estimate 4,000 people, many wearing black T-shirts reading “The world needs more Canadian energy,”... Read More

Canfor to curtail operations at all but one of its sawmills in British Columbia

Canfor to curtail operations at all but one of its sawmills in British Columbia
VANCOUVER — Canfor Corp. is curtailing operations at all of its British Columbia sawmills, except its WynnWood operations, due to poor lumber markets. The company says a majority of the mills will be curtailed for two weeks or the equivalent, with extended curtailments at select locations. Canfor’s operations at Houston and Plateau will be curtailed for four weeks, while its... Read More

Desjardins launches $45M fintech fund as competition heightens

Desjardins launches $45M fintech fund as competition heightens
LEVIS, Que. — Desjardins Group has launched a new $45-million fintech investment fund in a bid to tap into cutting-edge technology as competition heightens. The co-operative financial group says these investments are aimed at “significantly” improving the client experience by accelerating its “digital transformation.” It added that the investment pool will support businesses that use “innovative operational, technological or economic models” to address existing or emerging issues. The... Read More

Canaccord to buy Australian securities business Patersons for $23 million

Canaccord to buy Australian securities business Patersons for $23 million
TORONTO — Canaccord Genuity Group Inc. has struck a deal to acquire Australian financial services firm Patersons Securities Ltd. for roughly $23 million in cash. The Melbourne-based securities business has operations in wealth management and capital markets. Canaccord chief executive Dan Daviau says the addition of Patersons is part of its strategy to increase the scale of its wealth management operations... Read More

Canada Pension Plan’s money managers worth more than they cost, PBO says

Canada Pension Plan’s money managers worth more than they cost, PBO says
OTTAWA — The parliamentary budget officer says having the money in the Canada Pension Plan fund actively managed by investment experts has been worth nearly $50 billion in extra returns since the mid-2000s. In a report Monday, the PBO compares the growth in the $392-billion public pension fund to what the same money would have made in “passive” investments that... Read More