Calgary’s mayor, Naheed Nenshi, says plunging oil prices haven’t had as dire an effect on the city as most had expected. However, many in the industry are still waiting for the “other shoe to drop,” he says. Despite dismal headlines about job losses in the energy sector, Nenshi says Calgary has actually gained more jobs […]
Three Canadian pension funds have signed a deal to buy the company that operates the Chicago Skyway toll road for US$2.8 billion. The Canada Pension Plan Investment Board, Ontario Municipal Employees Retirement System and Ontario Teachers’ Pension Plan will each hold a one-third stake in Skyway Concession Co. LLC, which runs the toll road under […]
The Bank of Canada is launching what it calls an ambitious research agenda to further explore how other countries have responded to a financial crisis that has stretched conventional monetary policy “to its limits.” Senior deputy governor Carolyn Wilkins says the central bank must be innovative with its existing monetary tools — particularly since structural […]
A U.S. judge has refused to dismiss an insider trading lawsuit filed by two pension funds against Quebec-based Valeant Pharmaceuticals and hedge fund manager Bill Ackman over their activities before last year’s failed attempt to acquire Botox-maker Allergan. District Judge David Carter of California ruled this week that the case filed on behalf of investors […]
The federal government will open its books to public scrutiny before the end of the year, Finance Minister Bill Morneau promised Tuesday after a report warned that deteriorating economic conditions could drive Canada into deeper deficits. The report by the parliamentary budget officer suggested the new Trudeau government was on track to face larger-than-expected baseline […]
Immediately after U.S. President Barack Obama denied a permit for the Keystone XL pipeline, TransCanada Corp. vowed to review all of its options. Unfortunately for the Calgary-based company, none of those options are quick, simple or sure to succeed, according to a Washington, D.C., lawyer who at one time dealt with energy issues at the […]
The federal department in charge of retirement benefits has quietly been reviewing its protocols amid concerns that military spouses were wrongfully being rejected for old age security payments. That review has been ongoing since at least June, after reports emerged of at least one military spouse being asked for myriad documentation, including mortgage payments and […]
As the Liberals rush to fulfill their headline election vow to siphon more from the rich to give to the middle class, it remains up for debate just how much the plan will help Canada’s limping economy. Experts say the Trudeau government should have little trouble meeting its self-imposed January 1 deadline to rejig tax […]
The country’s labour force ballooned by 44,400 net jobs last month, thanks to a surge in temporary public-administration work likely generated by the federal election, Statistics Canada says. The agency’s latest job-market report also says Friday that the increase helped push October’s unemployment rate down one tenth of a percentage point to 7%. The report […]
For the first time in nearly 100 years, a political newcomer is stepping into the high-stakes, pressure-cooker position of federal finance minister. Multi-millionaire Toronto businessman Bill Morneau takes over the file at a critical time, as the economy struggles to rebound from the steep drop in the price of oil and other commodities. Morneau, sworn […]