Category: Politics

Alberta to limit temporary foreign worker program to save jobs for Albertans

CanadianInvestor
Alberta to limit temporary foreign worker program to save jobs for Albertans
EDMONTON — The Alberta government is hoping to get more Albertans employed by moving to limit the number and type of temporary foreign workers it allows into the province. Labour and Immigration Minister Jason Copping says the province’s United Conservative government will also reduce the number of jobs for which employers can apply for temporary foreign workers. Copping says the... Read More

Spokesman: China to sanction US arms suppliers to Taiwan

CanadianInvestor
Spokesman: China to sanction US arms suppliers to Taiwan
BEIJING — China’s government said Monday it will impose sanctions on U.S. military contractors including Boeing Co.’s defence unit and Lockheed Martin Corp. for supplying weapons to rival Taiwan, stepping up a feud with Washington over security and Beijing’s strategic ambitions. Raytheon Technologies Corp. and “relevant American individuals” associated with the sales also will be affected, said a foreign ministry... Read More

Chinese fintech could shatter records with $35B share offer

CanadianInvestor
Chinese fintech could shatter records with $35B share offer
HONG KONG — The world’s largest fintech company, China’s Ant Group, will try to raise nearly $35 billion in a massive public offering of stock that would shatter records. Alibaba-affiliated Ant Group, which operates a suite of financial products including the widely-used Alipay digital wallet in China and one of the world’s largest money market funds, will hold dual listings... Read More

German business confidence slips after 5 months of rises

CanadianInvestor
German business confidence slips after 5 months of rises
BERLIN — German business confidence has declined for the first time after five straight monthly increases as coronavirus infections rebound across Europe, a closely watched survey showed Monday. The Ifo institute said its monthly confidence index fell to 92.7 points in October from 93.2 in September. It said that companies’ view of their current situation improved but their expectations regarding... Read More

Global shares fall on uncertainty over US election, pandemic

CanadianInvestor
Global shares fall on uncertainty over US election, pandemic
TOKYO — Global shares were lower Monday amid widespread uncertainty over what the U.S. presidential election will portend for markets and economic policy. France’s CAC 40 slipped 0.9% in early trading to 4,863.83, while Germany’s DAX dropped 2.4% to 12,346.01. Britain’s FTSE 100 edged down 0.5% to 5,832.52. U.S. shares were to decline, with Dow futures sinking 1.0% to 27,902.... Read More

PG&E to cut power to over 1 million people in California

CanadianInvestor
PG&E to cut power to over 1 million people in California
SAN FRANCISCO — Pacific Gas & Electric will cut power to over 1 million people on Sunday to prevent the chance of sparking wildfires as extreme fire weather returns to the region, the utility announced Friday. The nation’s largest utility said it will black out customers in 38 counties — including most of the San Francisco Bay Area — as... Read More

Canadian companies that have filed for creditor protection since COVID-19 pandemic

CanadianInvestor
Canadian companies that have filed for creditor protection since COVID-19 pandemic
TORONTO — A list of some of the companies that have taken steps under the Companies’ Creditors Arrangement Act or Bankruptcy and Insolvency Act since the beginning of the pandemic: Oct. 23: Le Chateau Inc. (apparel retailer) Sept. 14: Mountain Equipment Co-operative (outdoor recreation retailer MEC) Sept. 8: Groupe Dynamite (Garage and Dynamite apparel retailer) Sept. 8: Geox Canada Inc.... Read More

Alberta to stop limits on oil production in December after nearly two years

CanadianInvestor
Alberta to stop limits on oil production in December after nearly two years
CALGARY — Alberta’s UCP government says it will end oil curtailment quotas in December, nearly two years after the previous  NDP government introduced them to support oil prices. The province says it will extend its regulatory authority to continue the program for another year but doesn’t plan to use it after the end of November. It says the monthly curtailments... Read More

Ottawa provides $100 million to research ways to cut GHG emissions in oil and gas

CanadianInvestor
Ottawa provides $100 million to research ways to cut GHG emissions in oil and gas
  CALGARY — The federal government says it will provide $100 million from its strategic innovation fund over four years to accelerate the development and use of technologies to lower the oil and gas industry’s environmental impact. Innovation, Science and Economic Development Canada says the money will be provided to the Clean Resource Innovation Network, a 1,700-member consortium of companies,... Read More

Goldman Sachs subsidiary pleads to US charges in 1MDB probe

CanadianInvestor
Goldman Sachs subsidiary pleads to US charges in 1MDB probe
WASHINGTON — A subsidiary of Goldman Sachs pleaded guilty on Thursday and agreed to pay more than $2 billion in a foreign corruption probe tied to the Malaysian 1MDB sovereign wealth fund, which was looted of billions of dollars in a corruption scandal. The company, Goldman Sachs Malaysia, entered the plea in federal court in Brooklyn. As part of its... Read More