Archive For The “EconomyMoney” Category

Gasoline prices pull Canada’s annual inflation lower again, to 1.0% in June

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Gasoline prices pull Canada’s annual inflation lower again, to 1.0% in June

OTTAWA – The annual pace of inflation slowed once again last month as lower gasoline and electricity prices helped offset higher costs in most other categories, Statistics Canada said Friday.Overall, the agency’s latest inflation report found that prices were one per cent higher in June compared to a year earlier.The June number followed inflation readings…

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Bank of Canada expected to hike interest rate for 1st time in almost 7 years

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Bank of Canada expected to hike interest rate for 1st time in almost 7 years

OTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in oil prices.Low interest rates have helped fuel the housing market in recent years, incentivizing Canadians…

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Energy giant Apache Corp. sells off assets in Alberta, Saskatchewan and B.C.

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Energy giant Apache Corp. sells off assets in Alberta, Saskatchewan and B.C.

Apache Corp. says it has sold its assets in British Columbia, Alberta and Saskatchewan for close to $1 billion in a strategic exit from Canada.The Houston-based oil and gas company said late Thursday that leaving Canada was part of its goal of streamlining its portfolio to focus on projects in the United States, United Kingdom…

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New Stelco investment promises produces mixed union reaction

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New Stelco investment promises produces mixed union reaction

A week after Bedrock Industries got the keys to Stelco comes word that it intends to put $250 million over the next five years into the Hamilton-based steelmaker.Top items on the list are developing technology for heat recovery and electricity generation as well as transportation and logistics. READ MORE: Bedrock Industries officially takes ownership of…

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Don’t panic: message from Vancouver mortgage broker on impending interest rate hike

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Don’t panic: message from Vancouver mortgage broker on impending interest rate hike

A well-known mortgage broker in Vancouver says the signs for an interest rate hike have been clear, but she expects the growth to be gradual.Angela Calla thinks there is no reason for homeowners to panic, especially because the federal government has told Canadians to prepare for the increase, which should soften any financial blow.Calla says,…

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Canada’s economy posts solid growth in April, up 0.2% in the month

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Canada’s economy posts solid growth in April, up 0.2% in the month

OTTAWA – The Canadian economy had another month of solid growth in April, building on strength seen in the first quarter and supporting expectations the Bank of Canada will soon begin increasing interest rates.Statistics Canada said Friday the economy grew 0.2 per cent in April compared with an increase of 0.5 per cent in March.The…

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Cenovus CEO Brian Ferguson to retire in October

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Cenovus CEO Brian Ferguson to retire in October

Cenovus chief executive Brian Ferguson will be retiring Oct. 31 but plans to stay as an adviser until the end of March as the oil company undergoes a major divestiture program.Ferguson has led Calgary-based Cenovus since its launch as an independent public company in late 2009. READ MORE: Encana selling Colorado natural gas unit to…

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B.C. remains a sellers’ market: B.C. Real Estate Association

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B.C. remains a sellers’ market:  B.C. Real Estate Association

The British Columbia Real Estate Association is predicting a decline in home sales of 10% this year.In its 2017 Second Quarter Housing Forecast, it also predicts a 1.1% decrease in the average residential price to $683,500, but it says that will be caused by a larger proportion of home sales outside the Metro Vancouver region….

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Suncor says full shipments from Mildred Lake plant to resume in July

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Suncor says full shipments from Mildred Lake plant to resume in July

Suncor Energy  is revising its estimates on when full shipments from its Mildred Lake oilsands operation will resume following a fire in March.At the beginning of May, Suncor said repairs had been completed and production was expected to return to full rates in June. Story continues below READ MORE: Suncor says Mildred Lake shipments have…

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Encana selling Colorado natural gas unit to Denver company in US$735 million deal

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Encana selling Colorado natural gas unit to Denver company in US$735 million deal

Encana Corp. has a deal to sell its Piceance natural gas assets in Colorado for US$735 million cash to Caerus Oil and Gas LLC of Denver.The Piceance assets include approximately 3,100 operated wells, which produced about 240 million cubic feet per day of natural gas in the first quarter. They also produced 2,178 barrels per…

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