Canadian oil production on the upswing

Alberta (80.9%), Saskatchewan (10.7%) and Newfoundland and Labrador (5.9%) accounted for the vast majority of Canadian production of crude oil and equivalent products

Canadian oil production on the upswingCanada produced 21.8 million cubic metres (137.3 million barrels) of crude oil and equivalent products in May, up 13.5 per cent from the same month a year earlier, according to Statistics Canada. The federal agency said on Monday that non-upgraded production of crude bitumen (+22.8 per cent) was the main driver for the increase of…

BDC launches boot camps for women entrepreneurs

Initiative will focus on providing women entrepreneurs the right tools, advice and networking opportunities to tap into their potential

BDC launches boot camps for women entrepreneursThe Business Development Bank of Canada is launching a series of boot camps across the country that will focus on enhancing business skills and financial literacy for women entrepreneurs who have a desire to grow. The BDC announced its initiative on Monday as part of Canada's Women Entrepreneurship Strategy. The one-day WE Talk Business boot…

Record second quarter for Cineplex

Movie theatre giant enjoyed increased attendance, box office revenue and food service revenue

Record second quarter for CineplexCanadians apparently love going to the movies. On Friday, that was evident by record second quarter results released by movie theatre giant Cineplex. For the quarter ending June 30, total revenue of $409.1 million was up 12.4 per cent from a year ago. The company reported that attendance of 17.3 million during the quarter was…

Labour markets diverge in Calgary and Edmonton

The provincial unemployment rate was little changed at 6.7% in June. The province lost 3,600 jobs month over month but employment was still up 39,600 year over year

Labour markets diverge in Calgary and EdmontonThe labour markets in Calgary and Edmonton appeared headed in opposite directions in July. According to data released on Friday by Statistics Canada, Calgary saw job losses and an increased unemployment rate for the month while Edmonton experienced more employment and job creation. For the Calgary census metropolitan area, the unemployment rate rose to 7.9…

Cenovus selling Pipestone and Wembley assets to NuVista for $625 million

Cenovus says it's working 'towards streamlining and rationalizing our acreage in the Deep Basin'

Cenovus selling Pipestone and Wembley assets to NuVista for $625 millionCenovus Energy Inc. is selling its Pipestone and Wembley natural gas and liquids business in northwestern Alberta to NuVista Energy Ltd. for $625 million. The transaction also includes the Pipestone Business’s 39 per cent operated working interest in the Wembley gas plant. The sale is expected to close in the third quarter of 2018, subject…

Creating a large industrial services footprint

Jesse Messom’s Bigfoot has become a fully-integrated millwrighting, welding and fabrication/manufacturing and engineering company

Creating a large industrial services footprintJesse Messom is president and CEO of Bigfoot Industrial Services Ltd. Calgary’s Business: Can you give me a history of Bigfoot? How and when did it come into operation and how many people the company employs? Messom: I founded Bigfoot Industrial Services in 2010. I started my millwright apprenticeship at 19 and obtained my journeyman…

Brookfield Residential to build unique housing development at University District

The concept combines the spacious layout and flow of a single-level home with the appeal of condo life

Brookfield Residential to build unique housing development at University District  Brookfield Residential is bringing a new real estate concept to the growing University District mixed-use development. The company, along with West Campus Development Trust, which is overseeing the neighbourhood development on University of Calgary land, announced on Thursday its new Capella project. Preliminary plans call for about 92 condo units in one building and…

Canadian job vacancy rate reaches new heights

Ontario led the country with 154,600 unfilled jobs, followed by Quebec at 109,600 and BC at 62,200. Alberta’s had 37,500 unfilled jobs

Canadian job vacancy rate reaches new heightsThe job vacancy rate in Canada is the highest it’s ever been, according to a new report by the Canadian Federation of Independent Business. The organization’s Help Wanted report, which was released on Thursday, said an estimated 397,400 jobs have sat vacant across Canada for at least four months and the job vacancy rate was…

Housing starts slow in Calgary, Edmonton in July

July marks the first month where retaliatory tariffs on steel and aluminum imports from the U.S. were in effect, which likely raised construction costs faced by Canadian builders

Housing starts slow in Calgary, Edmonton in JulyIt seems that homebuilders in Alberta – including Calgary and Edmonton – took a bit of a breather in July when it came to starting new home construction. According to data released on Thursday by Canada Mortgage and Housing Corp., total housing starts in the Calgary census metropolitan area of 1,010 were down 12 per…

Canadian Tire net income declines

But second-quarter revenue rose by 3.2% to $3.48 billion and retail sales were up by 3.6% to $4.25 billion

Canadian Tire net income declinesNet income for Canadian Tire Corp. fell by 19.6 in the second quarter compared with a year ago. In announcing its financial results on Thursday, the company said net income for the quarter, ended June 30, was $174.4 million. It also reported that revenue rose by 3.2 per cent to $3.48 billion and that retail…