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US consumer spending flat in March; core inflation still strong
WASHINGTON – U.S. consumer spending was unchanged in March, while underlying inflation pressures remained strong, which could see the Federal Reserve raising interest rates again next month.The unchanged reading in […] This post is only…
Suncor In $4.1B Deal To Buy TotalEnergies’ Oilsands Operations
Calgary-based Suncor Energy will acquire French TotalEnergies’ Canadian operations in a US$4.1-billion deal. Suncor says the deal will boost its per day production capacity by 135,000 barrels. The sale is […] This post is only…
OPEC says IEA should be ‘very careful’ about discouraging oil investments
OPEC Secretary General Haitham al-Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was “counterproductive.” He added that the influential group of 23 oil-exporting exporting nations was not […] This post is only…
Bank of Canada rate-cut bets recede as core inflation proves sticky
Canadian inflation excluding food and energy costs is expected to remain above 3 per cent until the fourth quarter of this year, the median forecast of seven economists recently surveyed […] This post is only…
Work halted at site of Trans Mountain expansion project after injury, regulator says
The Canada Energy Regulator said it was notified on Tuesday of a serious injury at a work site on the government-owned Trans Mountain oil pipeline expansion project near Chilliwack, British […] This post is only…
CN Rail’s share price skidded Tuesday despite upbeat earnings. Here’s why
anadian National Railway Co. CNR-T -0.40%decrease issued a downbeat outlook for the economy, adding to a growing chorus of companies that are warning of deteriorating operations as rising interest rates weigh on activity.“Our […] This post is only…
Teck withdraws split proposal hours before crucial vote, will pursue alternate plan
Teck Resources Ltd. TECK-B-T +4.43%increase is not proceeding with its planned split, after evidently not gathering enough votes to secure the transaction.The development is a huge win for Glencore PLC which has been campaigning to […] This post is only…
Oil prices rise on U.S. crude, fuel stock draws
PUBLISHED TUE, APR 25 202310:07 PM EDTOil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of […] This post is only…
Microsoft reports earnings beat, says A.I. will drive revenue growth
Microsoft surpassed expectations on the top and bottom lines and beat estimates on quarterly revenue guidance. Growth from Azure and other cloud services slowed to 27% from 31% in the […] This post is only…