California utility, battered and blamed in wildfires, filing for bankruptcy protection

Pacific Gas and Electric said it plans to file for bankruptcy protection amid potentially massive liabilities resulting from the deadly California wildfires. The announcement Monday follows the resignation of the company’s chief executive, Geisha Williams, a day earlier. John Simon, the company’ general counsel since 2017, will serve as interim chief executive. Officials are investigating whether […]

10 years after expropriation, Abitibi waste still in the ground

A decade after the provincial government became the owner of a shuttered mill, whatever toxic mess lies beneath has yet to be cleaned up. In 2008, when Abitibi Consolidated announced it was closing its Grand Falls-Windsor paper mill, the Danny Williams government reacted by expropriating the company’s assets. Among them, the provincial government would later […]

Home Capital shares sell off after Berkshire Hathaways discloses it’s sold most of its stake

Shares in Canadian mortgage company Home Capital fell as much as 18 per cent on Wednesday after word came out that Warren Buffett’s company Berkshire Hathaway had sold most of its stake in the company. Home Capital’s TSX-listed shares were changing hands at just over $14 on Wednesday, off by more than $2 from Tuesday’s close […]

Unemployment reaches 40-year low with 94,100 new jobs added in November

A blast of 94,100 new jobs last month has knocked the country’s unemployment rate down to 5.6 per cent — its lowest level since Statistics Canada started measuring comparable data more than 40 years ago. The overall number marked the labour force survey’s largest monthly increase since March 2012, when there was a gain of […]

Investor pressure drives Royal Dutch Shell to take action on climate change

Welcome to The National Today newsletter, which takes a closer look at what’s happening around some of the day’s most notable stories. Sign up here and it will be delivered directly to your inbox Monday to Friday. TODAY: Royal Dutch Shell becomes first energy giant to set short-term greenhouse gas reduction targets, linking them to executive pay. The western Hudson […]

Morneau’s update bolsters struggling media with $600M in tax measures

The federal government is stepping in to help the struggling Canadian media industry with new tax credits and incentives valued at nearly $600 million over the next five years. “To protect the vital role that independent news media play in our democracy and in our communities, we will be introducing measures to help support journalism […]

After massive oil spill, spotlight shifts to agency regulating N.L. offshore industry

Newfoundland and Labrador’s largest-ever offshore oil spill has raised a storm of questions about who has the power to turn oil production on and off in risky situations.  In the eye of that storm: the Canada-Newfoundland and Labrador Offshore Petroleum Board, a federal-provincial regulatory body that critics say defers to the wishes of offshore oil companies on numerous […]

Canopy Growth shares stumble 8% after company posts quarterly loss

Shares of Canopy Growth Corp., slipped as the cannabis producer reported a wider loss of $330.6 million in its latest quarter, missing analyst estimates, as operating costs surged ahead of the legalization of recreational marijuana in Canada. Revenue for the quarter ended Sept. 30 totalled $23.3 million, up from $17.6 million a year ago but […]

Amazon picks New York, northern Virgina for new headquarters: reports

Amazon plans to announce on Tuesday that it has selected New York and northern Virginia as the locations for its new headquarters, according to multiple reports. The retail giant plans to announce on Tuesday its selection of the Queens neighbourhood of Long Island City and an area of Arlington, Va., known as Crystal City, the Wall Street […]

Greater Toronto home sales in October up 6% from year ago

The Toronto Real Estate Board is reporting a six per cent increase in home sales last month compared to the same month a year earlier, with strong demand for condos and low-rise units.  The emerging seller’s market for homes was strongest in the city of Toronto, driven by a 10.9 per cent increase in the […]