Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Husky Energy plan Husky Energy Inc. will release its planned 2020 capital expenditure and production guidance before markets open on Monday. The Calgary-based energy company confirmed in October that it was laying off staff, but would not say how many, as part of a plan... Read More

Arriving ‘too late’ rated biggest risk for growth in Canadian LNG industry

Arriving ‘too late’ rated biggest risk for growth in Canadian LNG industry
CALGARY — The former executive director of the International Energy Agency says the biggest risk to Canada’s nascent LNG industry is that it will be “too late” to join in a massive LNG expansion surge sweeping the globe. Maria van der Hoeven, a retired Dutch politician and leader of the IEA from 2011 to 2015, says there’s time for Canada to compete... Read More

Evolution Mining vows to invest after buying Ontario gold complex for US$375M

Evolution Mining vows to invest after buying Ontario gold complex for US$375M
RED LAKE, Ont. — Evolution Mining Ltd. says it will invest US$150 million over the next three years in the “undercapitalized” Red Lake gold complex in western Ontario after striking a deal to buy it for US$375 million from Newmont Goldcorp Corp. In a news release, the Australian company says it plans to spend US$50 million on exploration and invest... Read More

Bank of Canada governor says climate change poses risks to financial systems

Bank of Canada governor says climate change poses risks to financial systems
TORONTO — Bank of Canada governor Stephen Poloz wasn’t asked about climate change risks at a discussion about economic change and emerging risks on Thursday, so he brought them up himself. “It’s about the transition risk, right, as everyone’s portfolio and all their lending practices kind of converge on a different climate trend line, that that could have significant consequences for... Read More

Encana CEO defends plan to move HQ to Denver after investor criticism

Encana CEO defends plan to move HQ to Denver after investor criticism
CALGARY — The CEO of Encana Corp. is firing back after Canadian investment manager Letko, Brosseau & Associates Inc. said it would vote its four per cent stake against the Calgary-based company’s planned headquarters move to Denver. Doug Suttles, a Texan who lives in Denver, says the company is “disappointed” by the investor’s stance against what he says is a “crystal... 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

Slow economic growth bad for Canada’s foreign policy goals: experts

Slow economic growth bad for Canada’s foreign policy goals: experts
OTTAWA — Canada’s slow economic growth and competitiveness is undercutting its global interests, experts say, as the post “sunny ways” version of the Trudeau government’s foreign policy emerges Wednesday with the announcement of a new cabinet. The key moving parts could include a replacement for Foreign Affairs Minister Chrystia Freeland, who might be given a new domestic portfolio, and the... 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

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

UBC conference faces criticism over speaker from tech company blacklisted in U.S.

UBC conference faces criticism over speaker from tech company blacklisted in U.S.
VANCOUVER — A conference hosted by University of British Columbia students is facing criticism for having a speaker from a Chinese company that has been blacklisted by the United States over links to the repression of China’s Muslim minority. The UBC China Forum, a business conference organized by members of the university’s BizChina Club, lists SenseTime executive director Jimmy Zhou as one of its confirmed speakers. The artificial... Read More