Tag: Business

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TSX ends slightly lower after posting a 9-month high

TSX ends slightly lower after posting a 9-month high

TSX up as eight of 10 main groups were higher   By Fergal Smith TORONTO, May 26 (Reuters) – The TSX, Canada’s main stock index, edged slightly lower on Thursday, including losses for resource stocks as oil and gold prices dipped. Still, the index has rallied nearly 22 percent from an almost 3-1/2-year low in January of […]

May 26, 2016 | By | Reply More
Shell job cuts: 2,200 more employees out of work in face of weak oil prices

Shell job cuts: 2,200 more employees out of work in face of weak oil prices

Shell job cuts targeted to be 12,500 by year’s end LONDON, May 25 (Reuters) – Royal Dutch Shell will cut a further 2,200 jobs, taking its target for layoffs to 12,500 by the end of the year, the Anglo-Dutch oil firm said on Wednesday, as it cuts deeper in the face of weak oil prices. Shell […]

May 25, 2016 | By | Reply More
Alberta wildfire economic pain singes beyond energy sector

Alberta wildfire economic pain singes beyond energy sector

Alberta wildfire hitting rail, hospitality sectors By Euan Rocha and Allison Lampert TORONTO/MONTREAL, May 25 (Reuters) – The wildfire that has ravaged northern Alberta and cut Canadian crude output by 25 percent is set to crimp corporate earnings beyond the oil patch, especially hitting the rail and hospitality sectors. The fire, which has caused an […]

May 25, 2016 | By | Reply More
TSX rises to a 7-month high, led by banks and energy stocks

TSX rises to a 7-month high, led by banks and energy stocks

TSX up 97.61 points, or 0.7 percent, to 14,017.19 By Fergal Smith TORONTO, May 24 (Reuters) – Canada’s main stock index closed higher on Tuesday as strength in the financial sector ahead of the bank earnings season helped overcome a slump in shares of gold miners. The TSX, which also received support from the energy […]

May 24, 2016 | By | Reply More
Japex to keep oil sands operations idle after fire due to low prices

Japex to keep oil sands operations idle after fire due to low prices

Japex Hangingstone project closed for foreseeable future TOKYO, May 12 (Reuters) – Japan Petroleum Exploration (Japex) will not restart production at its Hangingstone oil sands concession in Alberta, Canada, for the foreseeable future due to low prices, even after devastating fires in the area were brought under control. Japex, which shut down its 5,000 barrels per […]

May 12, 2016 | By | Reply More
Crescent Point posts bigger Q1 loss

Crescent Point posts bigger Q1 loss

Low oil prices hamper Crescent Point May 12 (Reuters) – Canadian oil and gas producer Crescent Point Energy Corp reported a bigger quarterly loss due to weak oil prices. Crescent Point, which said it continued to lower its overall cost structure, has slashed its dividend, curbed capital spending and scaled back drilling activity to operate […]

May 12, 2016 | By | Reply More
TSX barely higher as energy sector rises after fire

TSX barely higher as energy sector rises after fire

Seven of the TSX 10 main groups fall   TORONTO, May 12 (Reuters) – Canada’s main stock index fell slightly on Thursday as losses for some heavyweight financial and mining names dragged, while energy stocks gained with higher U.S. oil prices and as oil sands employees prepared to return to work after a wildfire. At […]

May 12, 2016 | By | Reply More
Husky Energy to sell some Saskatchewan assets for C$595 mln

Husky Energy to sell some Saskatchewan assets for C$595 mln

Husky Energy to sell some Saskatchewan assets for C$595 mln May 10 (Reuters) – Husky Energy said it would sell some assets in southwest Saskatchewan for C$595 million to fellow oil and gas producer Whitecap Resources Inc as it looks to raise cash. This is Husky’s third asset sale this year. The company said on […]

May 11, 2016 | By | Reply More
Canadian oil prices ease as wildfire moves away from oil sands sites

Canadian oil prices ease as wildfire moves away from oil sands sites

Canadian oil prices rose after companies took production offline last week amid Alberta wildfire   NEW YORK, May 10 (Reuters) – Canadian oil prices slipped on Tuesday as oil companies moved towards restarting output and assessing damage as the raging wildfire in northern Alberta shifted direction away from key production facilities. Numerous producers and pipeline companies […]

May 10, 2016 | By | Reply More
TSX rises as oil rallies; oil sands producers plan restarts

TSX rises as oil rallies; oil sands producers plan restarts

Eight of the TSX 10 main groups were higher TORONTO, May 10 (Reuters) – The TSX, Canada’s main stock index rose on Tuesday, led by financial and energy stocks as oil rose, while producers planned restarts at disrupted oil sands facilities. Gains for global stocks added to support for the index after some solid corporate […]

May 10, 2016 | By | Reply More