Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower

Stocks in Toronto edge down, while U.S. stock markets up; loonie slips lower
TORONTO — Canada’s main stock index edged lower in late-morning trading, hurt by losses in the key energy and financial sectors. The S&P/TSX composite index was down 4.72 points at 16,439.14. In New York, the Dow Jones industrial average was up 55.35 points at 25,918.03. The S&P 500 index was up 4.88 points at 2,881.20, while the Nasdaq composite was... Read More

Southern Alberta city pulls plug on $13-million solar power project

Southern Alberta city pulls plug on $13-million solar power project
CALGARY — The southern Alberta city of Medicine Hat is pulling the plug on a $13-million concentrated solar power facility after operating it for about five years. Coun. Phil Turnbull, who chairs the city’s utility committee, says the project’s goal was to test whether the technology was a feasible way to use the sun’s heat to replace some of the natural gas used... Read More

Canadian inflation rises in April; gas prices strengthen from carbon pricing

Canadian inflation rises in April; gas prices strengthen from carbon pricing
OTTAWA — Canada’s annual inflation rate picked up its pace in April for a third-straight month due in part to stronger gasoline prices in provinces with new carbon-pricing systems. The consumer price index posted a year-over-year increase of two per cent last month, up from its reading of 1.9 per cent in March and 1.5 per cent in February, Statistics Canada said Wednesday in a new report. The... Read More

Energy stocks lead Toronto market higher as North American stocks bounce back

Energy stocks lead Toronto market higher as North American stocks bounce back
TORONTO — Energy stocks helped boost Canada’s main stock index higher in late-morning trading as North American stocks bounced back after taking a hit to start the week due to the escalating U.S.-China trade war. The S&P/TSX composite index was up 59.14 points at 16,252.55. In New York, the Dow Jones industrial average was up 242.41 points at 25,567.40. The... Read More

Ensign Energy Services posts Q1 beat as it digests Trinidad acquisition

Ensign Energy Services posts Q1 beat as it digests Trinidad acquisition
CALGARY — Drilling firm Ensign Energy Services Inc. is reporting a 72 per cent increase in revenue in its first full quarter since buying Trinidad Drilling Ltd. late last year. The Calgary-based company says revenue came to $445 million in the first three months of 2019, up from $258 million in the same period a year earlier, mainly due to its winning the battle for... Read More

Vancouver expected to headline long Canadian summer of high gasoline prices

Vancouver expected to headline long Canadian summer of high gasoline prices
CALGARY — Gasoline prices are expected to remain just below record highs all across Canada this summer except in Vancouver — where a perfect storm of factors will likely ensure motorists continue to set new all-time records at the pumps. Fuel market analysts say average retail prices in Canada are within a penny or two of their year-ago levels, which were some of the... Read More

Enbridge aiming to boost Mainline throughput as Q1 results top expectations

Enbridge aiming to boost Mainline throughput as Q1 results top expectations
CALGARY — Enbridge Inc. is working with shippers to optimize its Mainline pipeline system in a bid to boost throughput by 50,000 to 100,000 barrels per day. Chief executive Al Monaco said Friday that although its Liquids Mainline System — the largest export option for western Canadian producers — was full and hit a record this quarter, storage levels in Alberta remain... Read More

Your Uber has arrived, on Wall Street

Your Uber has arrived, on Wall Street
SAN FRANCISCO — Uber’s next stop is the stock market, where it hopes to pick up more investors willing to bet on a ride-hailing market brimming with potential and conspicuously lacking in profits. The world’s largest ride-hailing service reached a major milestone Thursday when Uber priced its long-awaited initial public offering at $45 price per share to set the stage... Read More

Just add water: Salt battery could help renewable energy use

Just add water: Salt battery could help renewable energy use
BERLIN — Amid the hum and heat of Berlin’s Reuter thermal power station stands a shining contraption that looks out of place in the decades-old machine hall. Its silver pipes and vats contain a substance that Vattenfall, the plant’s operator, says could become a key ingredient for a fossil fuel-free future. The energy company, together with a Swedish start-up, is... Read More