Canada’s family-owned businesses are the real “backbone of the economy,” but more information about those firms is required to help keep that foundation from cracking, says a new report from the Conference Board of Canada and the Family Enterprise Xchange Foundation.Family businesses were directly responsible for about $574.6 billion in goods and services produced in…
Calgary-based oil producer Obsidian Energy Ltd. says it’s starting a strategic review that could result in the sale of the company.The alternatives being considered also include mergers, recapitalization, refinancing or combinations of those concepts, the company said in a statement. It’s the largest producer and land holder in the Cardium shale structure in Alberta.“The initiation…
ABU DHABI — Australian oil and gas producer Woodside is seeking to reduce its stakes in the Scarborough gas field at home and in Canada’s Kitimat liquefied natural gas (LNG) project to cut its capital exposure, its chief executive told Reuters on Tuesday.The comments by CEO Peter Coleman came after speculation Saudi Aramco could be…
CALGARY — Suncor Energy Inc, Canada’s second-largest oil sands producer, will invest $1.4 billion to install two cogeneration units at its Oil Sands Base Plant, reducing greenhouse gas emissions by 25 per cent, the company said on Monday.The natural gas-fueled cogeneration units will replace coke-fired boilers and provide steam generation for Suncor’s bitumen extraction and…
I couldn’t stop laughing over the weekend when I read the press headlines and Bay Street economists marvelling about those surreal job numbers in Canada for August. Think of what a gain of 80,000-plus jobs means if you believe it — it’s akin to an 800,000 surge in U.S. employment.The Statistics Canada data were so…
CALGARY — Some of the country’s largest natural gas producers and drilling companies could soon be booted out of the main Toronto Stock Exchange index amid a share price rout, according to analysts.After a bruising summer in which their stock prices have fallen to historic lows, as many as seven oil and gas companies are…
A report said that Canada’s economy lost 24,200 “net” jobs in July, the second month in a row with job losses, and the unemployment rate rose to 5.7 per cent. But the figures are misleading. That month, 69,300 private-sector jobs were lost, and the “net” figure was derived from subtracting the creation of 17,500 public…
Remember the spectacle of that gigantic telescope unveiled in a mountain-ringed valley in China just a few years ago? Well, the Five-hundred-meter Aperture Spherical Radio Telescope (FAST) has now picked up a mysterious space signal known as a fast radio burst. Fast radio bursts or FRBs are brief but powerful pulses of energy from distant…
Rhys Blakely, Science Correspondent A tourist attraction in California. An asteroid crash 66 million years ago in the Gulf of Mexico was lethal to dinosaurs on the continentALAMY Scientists have revealed the most detailed picture yet of the day an asteroid ended the reign of the dinosaurs, finding vivid evidence of how a giant sulphur cloud…
The Cassini spacecraft ended its mission to Saturn and its moons two years ago when it was sent plunging into Saturn to be destroyed. But after two years, scientists are still studying the data from the Cassini mission. A new paper based on Cassini data proposes a new explanation for how some lakes on Titan…
