Enbridge-Spectra deal valued at $4.3 billion

Enbridge says the move was influenced by tax changes in the U.S.

Enbridge-Spectra deal valued at $4.3 billionCalgary-based energy transportation company Enbridge announced on Friday that it will acquire all of Spectra Energy Partner’s (SEP) outstanding 81.9 million public shares. The agreement will be based on a ratio of 1.111 Enbridge common shares for each common unit of Spectra. The agreement is valued at $4.3 billion, representing a 9.8 per cent increase…

Canadian cannabis spending reaches $5.7 billion in second quarter

Prices for both medical and non-medical cannabis have declined by 10.6% since the first quarter of 2016: StatsCan

Canadian cannabis spending reaches $5.7 billion in second quarterIn less than two decades, cannabis consumption in Canada has increased by 72 per cent. This year alone, cannabis spending for both medical and non-medical use was up 1.4 per cent in the first quarter and 1.2 per cent in the second, according to a report released by Statistics Canada on Friday. Spending on cannabis…

New provincial oil and gas framework expected to save millions

New regulatory process for oil and gas projects is intended to reduce paperwork and improve efficiency

New provincial oil and gas framework expected to save millionsThe province has announced a new regulatory process for oil and gas projects that it says will save $600 million over the next four years. The Integrated Decision Approach is a one-stop software tool, developed in conjunction with the Alberta Energy Regulator (AER) that will reduce paperwork and improve efficiency, the province stated in a…

Alberta sheds jobs over summer months

Decline in EI beneficiaries slowing down although the statistics show a more positive outlook over the last 12 months

Alberta sheds jobs over summer monthsEmployment insurance benefits were stagnant in June and July, indicating that not all segments of Alberta’s labour market are recovering at the same pace, according to an ATB Financial analysis released on Thursday. Statistics show that 53,200 Albertans received EI benefits in June, and the total was relatively unchanged in July. Calgary experienced a 2.9…

Looming Canada-U.S. trade war will impact Alberta exports

Because almost all of Alberta’s energy exports head to the U.S., “there’s no question that the value of trade between the two countries will be affected"

Looming Canada-U.S. trade war will impact Alberta exportsThe strong export sales Alberta saw in May and June is unlikely to last for the rest of the year, suggested a report from ATB Financial on Friday. The value of goods sold abroad hit $10.3 billion in June, marking a 12 per cent increase in the last 12 months. Energy exports accounted for nearly…

Feds aim to reduce unemployment rate for recent graduates

1,200 graduates across Canada will have the opportunity to participate in the Digital Skills for Youth program

Feds aim to reduce unemployment rate for recent graduatesThe University of Calgary is among the participating organizations and small businesses across Canada that will be offering paid internships to under-employed post-secondary graduates over the course of the next two years. The federal government announced Friday that 1,200 graduates across Canada will have the opportunity to participate in the Digital Skills for Youth program.…

Millennials “unprepared” for down payment costs, survey suggests

A survey of more than 9,000 potential homebuyers found that those between the ages of 25 and 38 were “unrealistic” about how long it would take to raise the down payment

Millennials “unprepared” for down payment costs, survey suggestsThe majority of millennials underestimate the time and cost of getting their foot in the housing market door, a recent study from the real estate company Point2Home suggests. Property values, and by association, down payment costs, vary drastically across the country. But a nationwide survey of more than 9,000 potential homebuyers found that prospective buyers…

Price of diesel fuel increases four-fold in 20 years

A report released by ATB Financial on Thursday looks at the Producer Price Index of the construction sector since 1998

Price of diesel fuel increases four-fold in 20 yearsDiesel fuel has been leading the increase of building material prices over the last two decades. A report released by ATB Financial on Thursday looked at the Producer Price Index of the construction sector since 1998. The index tracks the price of different inputs purchased by producers, similar to the Consumer Price Index. In the…

Energy sector drives up returns on Canadian pension plans and equities

But a new RBC Investor and Treasury Services report cautions that trade friction could impact the market

Energy sector drives up returns on Canadian pension plans and equitiesCanadian defined benefit pension plans were up 2.2 per cent in the second quarter and Canadian equities rose to 6.8 per cent. The latter reversed the first quarter loss of 3.9 per cent. A recent report from RBC Investor and Treasury Services All Plan Universe says the rebounding energy sector played a role. In a…

Obsidian Energy plans to increase light oil volumes in second half

Drilling program in motion for the remainder of the year after a $50-million investment in the Cardium site

Obsidian Energy plans to increase light oil volumes in second halfCalgary-based Canadian oil and gas producer Obsidian Energy reports a “relatively quiet” second quarter. President and CEO David French stated the company took advantage of the lull to prepare for the drilling program that is now in motion for the remainder of the year. A recent capital approval of $50 million will be allocated to…
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