More Pain Ahead for Canada’s Energy Sector in 2016
Industry group says 2016 will be another gloomy year for Canada's energy sector.
- November 5, 2015 September 13, 2019
- 06:27
Industry group says 2016 will be another gloomy year for Canada's energy sector.
A drilling industry group says the oilpatch is in for another year of weak activity as low commodity prices continue to pinch. The Petroleum Services Association of Canada expects 5,150 wells to be drilled in Canada in 2016, down from an estimated 5,340 wells this year. And it’s a much more dramatic drop from the […]
Statistics Canada says the country’s trade deficit narrowed to $1.7 billion in September, giving rise to expectations that the economy may start to see the benefits of the weakened loonie. Economists had expected a deficit of $1.9 billion, according to Thomson Reuters. The result compared with a revised deficit of $2.7 billion in August that […]
Valeant Pharmaceuticals says it’s cutting all ties with Philidor Rx Services, a partner company at the centre of a controversy about how Canada’s largest publicly traded drug company conducts its business. Two major U.S. drug-benefit providers said Thursday they are in the process of severing ties with Philidor, meaning that patients will have more difficulty […]
Statistics Canada says the pace of economic growth in Canada slowed in August. The agency says the economy grew by 0.1% in the month, following increases of 0.4% in June and 0.3% in July. The result matched the expectations of economists, according to Thomson Reuters. Read: Unemployment inches up to 7.1% in September The growth […]
Alberta’s NDP government will forge ahead building schools and hospitals and hiring more teachers and nurses, but the devastating impact of low oil prices has it planning to borrow money just to keep the lights on. There’s money earmarked in Tuesday’s provincial budget to reduce school fees, start a school nutrition program and deliver a […]
Canada Pension Plan Investment Board (CPPIB) is expanding its investments in the United States, including a US$350-million real estate deal. The transaction will give the Toronto-based fund manager a 10.6% interest in a joint venture involving various logistics properties, such as warehouses and business parks throughout the United States. Read: CPPIB to invest in entertainment […]
Justin Trudeau was greeted like a rock star as he arrived at the Ontario legislature Tuesday for a meeting with Premier Kathleen Wynne, and rewarded her campaign efforts on his behalf with a promise of federal help for a provincial pension plan. Wynne, one of Trudeau’s most ardent supporters during the federal campaign, gave the […]
Justin Trudeau is showing how dramatically the federal government’s relationship with Ontario has changed, making his first meeting with a premier since last week’s Liberal election victory in Ontario Premier Kathleen Wynne’s office. Wynne campaigned frequently alongside Trudeau and other Liberal candidates in Ontario throughout the lengthy federal campaign, and was beaming the morning after […]
The CEO of Valeant Pharmaceuticals is asking U.S. securities regulators to investigate Citron Research. Valeant CEO Michael Pearson told analysts on a conference call Monday that the main reason for Valeant’s recent problems is that it’s the victim of false allegations by outsiders who want to manipulate the market to their own profit. Read: Valeant […]