Oilsands Producers Pile On Debt To Survive The Crash But Eye Tentative Recovery

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Pandemic pay, safety measures dent Loblaw's second-quarter earnings: Financial Post Staff


Loblaw Companies Ltd., the biggest network of supermarkets in Canada, said pandemic-related wage increases for front-line staff and a decline in pharmacy sales pushed down profits in its second quarter despite soaring demand for food during the coronavirus cr…

Oilsands producers pile on debt to survive the crash but eye tentative recovery: Geoffrey Morgan


CALGARY — Suncor Energy Inc. and Cenovus Energy Inc., two of Canada’s largest oilsands producers, have taken on billions of dollars of debt to weather the historic oil price collapse and COVID-19 pandemic this year but believe the outlook is beginning to impr…

Alberta powers up hydrogen sector with three small-scale projects as part of plan to reduce emissions: Geoffrey Morgan


CALGARY — Alberta took tentative steps in sourcing energy from hydrogen with a string of new small-scale projects this week to develop a market in the province for the nascent and alternative energy source.

The funding is part of a wider plan to r…

ConocoPhillips to buy stake in Kelt's liquids-rich Montney asset for $510 million: Financial Post Staff


CALGARY — Canada’s largely dormant merger and acquisitions segment this year perked up Wednesday with Kelt Exploration Ltd. selling a stake in its British Columbia assets for $510 million in cash to Houston-based ConocoPhillips.

The acquisition co…

Sobeys parent playing to win with next phase of e-commerce strategy: Victor Ferreira


Empire Company Ltd. may have just entered the e-commerce grocery space in Toronto one month ago, but it’s already planning an expansion that will give it the ability to reach 75 per cent of Canadian households in the next three years.

Empire, whic…

Canada is looking a little more competitive these days and U.S. dysfunction isn't the only reason: Kevin Carmichael


The most worrisome comments from Bank of Canada Governor Tiff Macklem last week were about his outlook for the United States.

“In the last couple of weeks with the rapid rise in cases of coronavirus in the U.S., we did take down our U.S. projectio…

Why changing existing employment contracts unilaterally can lead to class action lawsuits: Howard Levitt


The pandemic has sent alarm bells ringing in human resource departments across the country who are worried about the deficiencies in their current employment agreements.

As the lockdown left many employers scrambling to continue operating while th…

COVID-19 crisis takes a double-digit bite out of Rogers earnings: James McLeod


Rogers Communications Inc. second-quarter results Wednesday showed the telecom company posted double-digit decline in nearly every metric.

Total revenue dropped 17 per cent for the three months ended June 30, and net income was down by 53 per cent…

What the decision whether to reopen schools this fall means for the recovery — podcast: Gabriel Friedman


The economic recovery is about more than whether the oil sector recovers, whether people resume air travel, or even whether neighborhood bars and restaurants open. For many people, the ability to return to the workforce will depend on whether childcare centre…

Coinsquare executives resign in settlement with OSC over allegations of market manipulation: Barbara Shecter


A panel of the Ontario Securities Commission approved a settlement with cryptocurrency platform Coinsquare over

allegations

of market manipulation, making misleading statements to investors, and taking reprisal against an internal whist…

New joint pension plan for Ontario universities taps OTPP veteran as first CEO: Barbara Shecter


The construction of a large pension plan for universities across Ontario — with the potential to manage $25 billion — took a step forward Tuesday with the appointment of seasoned pension executive Barbara Zvan as chief executive.

Zvan, who will be…

Full pain of pandemic about to be exposed in oilpatch’s ‘ugliest’ earnings ever: Geoffrey Morgan


CALGARY — Despite a recent uptick in oil prices, analysts believe Canadian oil companies are preparing to unveil one of the worst financial results in recent years in what is being diplomatically described as “a rebuilding year” for the oilpatch.

Sold, but not to the highest bidder: Torstar shareholders back NordStar bid - Financial Post: Vanmala Subramaniam


  1. Sold, but not to the highest bidder: Torstar shareholders back NordStar bid Financial Post
  2. Torstar shareholders vote in favour of NordStar takeover BNN
  3. Torstar shareholders back $60-million deal to take company private The Globe…

    Stock market's gains are justified, says BMO's Brian Belski: Larysa Harapyn


    Brian Belski, Chief Investment Strategist at BMO Capital Markets, explains to Financial Post’s Larysa Harapyn why his firm sees new highs for the TSX and the S&P 500 by the end of the first quarter of 2021.

    • A selloff is fracturing the tec…

      Five key personal finance lessons we should be learning from this crisis: Jason Heath


      The first half of 2020 has been extraordinary on many levels and there is still significant uncertainty about what lies ahead.

      While the pandemic has put the financial plans of Canadians to the test, it has also been the kind of crisis that remind…

      Canadian businesses less prepared for pandemic than global companies, HSBC survey finds: Victor Ferreira


      Canadian businesses lagged their global counterparts both in terms of how prepared they were for the COVID-19 pandemic and in how they’re planning to move forward from it, according to a new survey from HSBC.
      Between April 28 and May 12, HSBC surveyed 2,600…

      ‘Intentions are not enough anymore’: BlackNorth Initiative gets commitments from 200 CEOs: Barbara Shecter


      In recent weeks, Canadian corporations have been eager to tout their targets for boosting the representation of Black and indigenous people in leadership roles. For the founder of a new movement aiming to combat anti-Black racism in corporate Canada, it’s abo…

      Canada's 'Gas City' looks to sell energy assets as costs of cleaning up aging wells balloon: Geoffrey Morgan


      CALGARY – The City of Medicine Hat is in talks to sell more of its municipally owned oil and gas assets, as the province’s historic natural gas boomtown tries to manage aging wells with ballooning environmental clean up costs and well remediation liabilities.…

      Canadians more confident than ever about covering their bills without going into debt: Pamela Heaven


      Canadians’ optimism about their finances has rebounded from a record low in the early days of the COVID-19 pandemic, as government support and lower household spending take some pressure off, a new poll finds.

      The latest MNP Consumer debt Index, w…


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