Algonquin Power & Utilities Corp. AQN-T -6.30%decrease reported a loss in its fourth quarter compared with a profit a year ago as its revenue edged lower.

The company, which keeps its books in U.S. dollars, says it saw a net loss attributable to shareholders of US$186.4-million or 25 cents US per diluted share for the quarter ended Dec. 31.

The result compared with profit of US$186.3-million or 27 cents US per diluted share for the last three months of 2023.

Revenue for the quarter totalled US$584.8-million, down from US$585.7-million a year earlier.

On an adjusted basis, Algonquin says it earned six cents US per share in its latest quarter compared with an adjusted profit of 12 cents US per share in fourth quarter of 2023.

Shares in the company were down 45 cents or nearly seven per cent at C$6.38 in early trading on the Toronto Stock Exchange.

Canada’s unemployment rate held steady at 6.6 per cent in February while new job additions were only marginally up, data showed on Friday, reflecting the early potential impact of uncertainty over U.S. tariffs on corporate hiring decisions.

The economy added a net of 1,100 jobs, Statistics Canada said, a sharp contrast to the addition of 76,000 jobs in January and a cumulative increase of 211,000 from November to January.

Analysts polled by Reuters had estimated the unemployment rate at 6.7 per cent and net addition of 20,000 jobs in February.

This is the final major data to be released before the Bank of Canada’s monetary policy decision on March 12. Currency swap markets are showing that there is an around 73 per cent chance that the bank will cut interest rates for the seventh time in a row to 2.75 per cent.

The Canadian dollar extended losses after the labour data, trading down 0.3 per cent to 1.4339 versus the U.S. dollar, or 69.74 U.S. cents. Yields on two-year government bonds were down 3.9 basis points at 2.6 per cent.

Canada’s unemployment rate has been improving from late last year since a peak of 6.9 per cent in November, spurred by falling interest rates as inflation came within the Bank of Canada’s 1 per cent to 3 per cent target range and economic activity picked up.

However, uncertainty around U.S. tariffs has taken a toll on the hiring intentions of companies, Statscan’s data shows, and economists say unemployment could worsen if the tariffs are imposed.

U.S. President Donald Trump suspended for a month tariffs of 25 per cent he had imposed this week on almost all Canadian imports.

The employment rate, or the number of people employed out of the total population, was unchanged at 61.1 per cent. This metric has been improving in the last few months even as the population growth rate has been slowing, showing an improving job market.

Growth in the working age population, those aged 15 and older, has slowed in recent months as Prime Minister Justin Trudeau’s government implemented immigration curbs, under pressure from opposition parties who blame migrants for the shortage and high prices of housing.

Population growth in February was 47,000, up 0.1 per cent, which was less than half that recorded 12 months earlier and the slowest since April 2022.

The labour force – or the total number of people employed and unemployed – shrank by 16,800, the highest such drop since June 2022.

The participation rate, the proportion of the population who were employed or seeking jobs, fell to 65.3 per cent in February, the first decrease since September 2024, the statistics agency said.

The average hourly wage growth of permanent employees rose to an annual rate of 4.0 per cent in February from 3.7 per cent in January, it said.

The wage growth figure is closely watched by the BoC and, along with rental prices, has been one of the most resilient items which has not fallen in tandem with easing inflation.

Canada’s trade surplus in January exceeded expectations by a wide margin to post a 32-month record as fears of tariffs from the U.S. pushed exports of cars and energy products higher, especially south of its border, data showed on Thursday.

It posted a trade surplus of $3.97-billion, more than double the upwardly revised $1.69-billion seen in December, Statistics Canada said, and posted a record surplus with top trading partner the United States.

U.S. President Donald Trump has slapped a 25 per cent tariff on almost all Canadian imports and after retaliation by Prime Minister Justin Trudeau, he has threatened to stack up more tariffs on them.

On Wednesday, Trump agreed to exempt automakers from the tariffs for one month as long as they comply with the terms of the Canada-U.S.- Mexico free trade agreement, and agreed to look at other products too for similar relief.

Analysts polled by Reuters had forecast Canada’s trade surplus to be at $1.28-billion and have said that trade balances would benefit from companies front-loading orders in January.

“This uncertainty is creating major swings in the data, and we are just getting started,” Andrew DiCapua, Principal Economist, Canadian Chamber of Commerce.

Total exports increased 5.5 per cent in January to a record of $74.5-billion, following a 6 per cent increase in December. A 1 per cent decline in the value of the Canadian dollar to its U.S. counterpart in January also led to an increase in export value, it said.

In volume terms, total exports rose 4.5 per cent in January, following an increase of 2.6 per cent in December.

The jump in exports was led by an over 12 per cent jump in motor vehicles and parts, followed by a 4.8 per cent increase in exports of energy products, data showed.

The Canadian dollar was largely stable after the data with the local currency trading weaker by 0.18 per cent to 1.4361 to the U.S. dollar, or 69.63 U.S. cents. Yields on the two-year government bond dropped by 1.1 basis points to 2.544 per cent.

Canada’s trade surplus with the U.S. clocked a record of $14.4-billion in January, from $12.3-billion in December. This was led by historically high exports of $58.2-billion to the U.S. Imports from the United States increased 4.7 per cent, Statscan said.

The trade surplus with the U.S. increased for the third month in a row.

Trump has often indicated that he is unhappy that his country imports more from Canada than it exports and analysts have said that tariffs are also a tool for Trump to reverse this deficit.

However, data shows that its deficit with Canada, which is its second biggest trading partner, is much smaller than its other two top trading partners – Mexico and China.

According to U.S. government data the deficit with Mexico is almost 2.5 times that of Canada, while it is just a fifth of what the U.S. has with China.

Stuart Bergman, chief economist with Export Development Canada said that without energy exports, U.S. would actually run a surplus with Canada.

Services imports, another sector where Canada runs a deficit with the U.S., were down 0.4 per cent on a monthly basis led by a slump in travel services of 5.3 per cent, mainly on lower spending by Canadians traveling to the US, he said.

“This is clear evidence that the current situation is impacting consumer choices,” Bergman said.

• Health care saw another strong month, leading the pack in employment growth among different groups across the economy.
• Government posted gains as well overall, though positions at the federal level saw a reduction in the period.

Here’s where the jobs are for February 2025 – in one chart

U.S. President Donald Trump on Thursday exempted goods from both Canada and Mexico under a North American trade pact for a month from the 25% tariffs that he had imposed earlier this week, the latest twist in fast-shifting trade policy that has whipsawed financial markets and business leaders.

The exemption, which will expire on April 2, covers both of the two largest U.S. trading partners. Trump had earlier only mentioned an extension for Mexico, but the amended tariffs order – initially issued on Tuesday – covers Canada as well.

U.S. Commerce Secretary Howard Lutnick earlier Thursday said he expected Mr. Trump would grant this temporary exemption to most imports from Canada and Mexico until April 2.

With files from Reuters

A large majority of speech watchers approved of what they heard from President Trump’s joint address to Congress Tuesday night. 

The viewership was heavily Republican — historically a president’s party draws more of their own partisans. This was no exception, and they liked what they heard.

Click Here:

Poll on Trump’s 2025 joint address to Congress finds large majority of viewers approve – CBS News

Oil prices declined for a third day on Wednesday, as investors worried about OPEC+ plans to proceed with output increases in April, and U.S. President Donald Trump’s tariffs on Canada, China and Mexico escalated trade tensions.

Brent futures fell $1.09, or 1.5 per cent, to $69.95 a barrel by 1337 GMT. U.S. West Texas Intermediate (WTI) crude declined $1.36, or 2 per cent, to $66.90 a barrel.

The contracts settled near multi-month lows the previous day, weighed down by expectations the U.S. tariffs and counter-tariffs by the affected countries will slow economic growth and reduce fuel demand.

“The imposition of tariffs on China, Canada and Mexico by the U.S. sparked swift reprisals from each nation that increased concerns over a slowdown in economic growth and the consequent impact on energy demand,” Ashley Kelty, an analyst at Panmure Liberum, said.

Canada and China retaliated immediately to Trump’s tariffs on Tuesday, and Mexican President Claudia Sheinbaum said the country would respond, without giving details.

Meanwhile, the Organization of the Petroleum Exporting Countries and its allies including Russia, a group known as OPEC+, decided on Monday to increase output for the first time since 2022, further pressuring crude prices.

The group will make a small increase of 138,000 barrels per day from April, the first step in planned monthly increases to unwind its nearly 6 million bpd of cuts, equal to almost 6 per cent of global demand.

“There is a bit of a concern in the market that the OPEC+ decision is the start of a series of more monthly supply additions, but the statement from OPEC+ reiterates an approach in bringing back barrels only if the market can absorb them,” UBS analyst Giovanni Staunovo said.

Analysts at Morgan Stanley Research said it was possible OPEC+ would deliver only a few monthly increases, rather than fully unwind the cuts.

The Trump administration also said on Tuesday it was ending a licence the U.S. granted to U.S. oil producer Chevron since 2022 to operate in Venezuela and export its oil.

The decision puts 200,000 bpd of supply at risk, ING commodities strategists wrote in a note on Wednesday.

Meanwhile, U.S. crude stocks fell by 1.46 million barrels in the week ended February 28, market sources said, citing American Petroleum Institute figures on Tuesday.

Investors await government data on U.S. stockpiles, due on Wednesday.

President Donald Trump went forward with sweeping tariffs at midnight on goods imported from Canada and Mexico, while doubling down on punitive duties on China.

The latest:

• Canadian Prime Minister Justin Trudeau announced a 25% levy on C$30 billion worth of U.S. imports, effective immediately. Tariffs on another C$125 billion in U.S. goods will take effect in 21 days, he added.
• Mexico’s president said retaliatory tariffs are coming Sunday.
• At midnight, 25% tariffs on two U.S. neighbors — Canada and Mexico — went into effect. The president also imposed an additional 10% tariff on Chinese imports, doubling the 10% duty he had slapped on Beijing in early February.
• Economists have warned that the president’s aggressive moves could cause negative consequences globally, including triggering inflation that could hurt consumers.
• The stock market suffered a dramatic sell-off after Trump’s announcement Monday. The S&P 500 dropped 1.8%, its worst day since December, falling into negative territory for the year. Stocks were under pressure yet again Tuesday, with the tech-heavy Nasdaq Composite flirting with correction territory.

Pembina Pipeline Corp. PPL-T -1.20%decreasesays it earned $572 million in its fourth quarter.

That’s down from $698 million a year earlier.

The Calgary-based company says revenues for the quarter ended Dec. 31 were $2.15 billion, up from $1.84 billion during the same quarter in 2023.

Earnings per diluted common share were 92 cents, down from $1.21 a year earlier.

Pembina’s earnings and revenues for the full financial year rose from 2023.

Pipeline volumes rose during the quarter and the full financial year.