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Three surprising things about the just-released MacKinnon report examining Alberta's financial mess - National Post Sep 3rd
Three surprising things about the just-released MacKinnon report examining Alberta's financial mess National PostMacKinnon panel's 26 recommendations include legislated salaries for public sector workers CBC.ca'Alberta faces a critical financial situation': Government panel rec.... More »
Canadian manufacturer pivots to 'huge' market in India as country tries to strike trade deal - CBC May 29th
Canadian manufacturer pivots to 'huge' market in India as country tries to strike trade deal CBCIndia’s Union Minister Shri Piyush Goyal Visits BAPS Shri Swaminarayan Mandir, Toronto, ON, Canada BAPS Swaminarayan SansthaIndian business leaders’ mission concludes in Toronto .... More »
How to Make Your Business Inflation-Proof + MORE Oct 17th
Pivoting through the economic challenges brought on by the pandemic, businesses have shown a great deal of creativity and resilience over the last two years. As Canada’s road to recovery continues, entrepreneurs and larger businesses alike must now confront the latest challenge—inflation.
In .... More »
Should you sell your home to your kids? Oct 13th
Q. A scenario we are thinking of is “selling” our principal residence to our three adult children. We would use the proceeds to build a vacation home that they will eventually inherit. When they buy our home, it will not be a principal residence for any of the children, as they all have homes. I.... More »
The best GIC rates in Canada for 2026 + MORE Feb 17th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Husky Energy selling 65% interest in some midstream assets for $1.7B
– canadianbusiness.com
CALGARY – Husky Energy (TSX: HSE) says it is selling 65 per cent of its ownership interest in some midstream assets in the Lloydminster region of Alberta and Saskatchewan for $1.7 billion in cash.
Husky says that after the sale to Cheung Kong Infrastructure Holdings Ltd. and Power Assets Holdings Ltd. it will retain a 35 per cent interest in the assets and remain the operator.
The assets include about 1,900 kilometres of pipeline in the Lloydminster region, 4.1 million barrels of oil storage capacity at Hardisty and Lloydminster, and other ancillary assets.
Husky, one of Canada’s largest integrated oil companies, said a new limited partnership is to be formed with Power Assets holding a 48.75 per cent interest, Husky with its 35 per cent and Cheung Kong Infrastructure with a 16.25 per cent interest.
The announcement came as the company reported its net loss soared to $458 million or 47 cents per diluted share in the first quarter compared with a loss of $69 million or nine cents per share in same prior-year period…
Husky says that after the sale to Cheung Kong Infrastructure Holdings Ltd. and Power Assets Holdings Ltd. it will retain a 35 per cent interest in the assets and remain the operator.
The assets include about 1,900 kilometres of pipeline in the Lloydminster region, 4.1 million barrels of oil storage capacity at Hardisty and Lloydminster, and other ancillary assets.
Husky, one of Canada’s largest integrated oil companies, said a new limited partnership is to be formed with Power Assets holding a 48.75 per cent interest, Husky with its 35 per cent and Cheung Kong Infrastructure with a 16.25 per cent interest.
The announcement came as the company reported its net loss soared to $458 million or 47 cents per diluted share in the first quarter compared with a loss of $69 million or nine cents per share in same prior-year period…
Business Highlights
– canadianbusiness.com
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Fed will likely keep rates unchanged in face of global slump
WASHINGTON (AP) — The U.S. job market is healthy. The stock market is up. Home prices are rising. Yet as the Federal Reserve prepares to meet this week, it seems in no mood to resume raising interest rates from ultra-lows.
With the global economy struggling and U.S. inflation still below the Fed’s target rate, many economists see little likelihood of a rate increase even before the second half of the year.
The outlook for the world economy was downgraded this month by the International Monetary Fund, which warned of the risk of another international recession. Any major global slump would, in turn, hinder U.S. growth.
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USA Today owner Gannett bids for LA Times publisher Tribune
NEW YORK (AP) — Gannett wants to buy Tribune Publishing for more than $388 million, in a deal that would give the owner of USA Today control of the Los Angeles Times, Chicago Tribune and several other newspapers. But Gannett said Monday that Tribune has refused to start “constructive discussions” since it first offered to buy its rival earlier this month…
Fed will likely keep rates unchanged in face of global slump
WASHINGTON (AP) — The U.S. job market is healthy. The stock market is up. Home prices are rising. Yet as the Federal Reserve prepares to meet this week, it seems in no mood to resume raising interest rates from ultra-lows.
With the global economy struggling and U.S. inflation still below the Fed’s target rate, many economists see little likelihood of a rate increase even before the second half of the year.
The outlook for the world economy was downgraded this month by the International Monetary Fund, which warned of the risk of another international recession. Any major global slump would, in turn, hinder U.S. growth.
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USA Today owner Gannett bids for LA Times publisher Tribune
NEW YORK (AP) — Gannett wants to buy Tribune Publishing for more than $388 million, in a deal that would give the owner of USA Today control of the Los Angeles Times, Chicago Tribune and several other newspapers. But Gannett said Monday that Tribune has refused to start “constructive discussions” since it first offered to buy its rival earlier this month…
Investors, brace for more stock-market volatility: Citi
– theglobeandmail.com
Citi’s chief U.S. equity strategist Tobias Levkovich warns of continued stock-market instability, and here's the chart that backs him up
CN Rail downgrades earnings outlook
– cbc.ca
Canadian National Railway reported much higher than expected net profit in the first quarter but said lower commodity shipments weighed on revenue and have prompted a downward revision to the company’s 2016 financial outlook.
Saudi Arabia has unveiled a broad plan meant to diversify the country’s oil-focussed economy and boost foreign investment.
