Alberta’s OPEC-style oil cuts help boost prices — but concern over fallout remains

Alberta’s mandatory oil production cuts have helped boost Canadian crude prices, but concern persists that the cure could be worse than the cold. Since the strategy was executed two weeks ago, the price gap between Canadian and U.S. benchmark crude has shrunk to under $10 US a barrel. On Friday, it was the narrowest it has been in nearly a decade. […]

No matter the politics, Trump’s wall could provide jobs, stimulus if recession strikes: Don Pittis

If a U.S. recession is around the corner, the construction of President’s Donald Trump’s wall on the Mexican border could be an economic godsend. Last week, the world’s most powerful central banker, U.S. Fed Chair Jerome Powell, assured us that economic growth would continue in 2019. Bank of Canada governor Stephen Poloz has been similarly optimistic. But the […]

Canadian house price slump makes buyers wary for 2019: Don Pittis

According to a lot of analysis when the Canadian housing boom was at a peak, people were so anxious to get into the market that any fall in prices couldn’t last long. I remember Carol Off at CBC Radio’s As It Happens  grilling me about that in an interview almost exactly four years ago, after I’d written a […]

Cannabis legalization voted Canadian Press’s business story of the year

Canada’s trailblazing move to legalize cannabis for recreational use, which sparked an entirely new industry and had wide-ranging implications for nearly every facet of society, has been voted The Canadian Press business news story of the year. The term “disruption” in business has become so overused that it has become an empty cliché, but it […]

Nissan’s ex-chairman charged after accusation of underreporting pay

Tokyo prosecutors have charged Nissan, former chairman Carlos Ghosn and another executive for allegedly underreporting income. The charges imposed Monday involve allegations Ghosn’s pay was underreported by about $44 million US over five years. The prosecutors said earlier that the allegations were behind Ghosn’s Nov. 19 arrest. The arrest of an industry icon admired both in […]

Dollarama reports $133.5M profit in 3rd quarter

Dollarama Inc. says it earned $133.5 million in its latest quarter, up from $130.1 million a year ago. The retailer says the profit amounted to 41 cents per diluted share for the company’s third quarter, up from 38 cents per share in the same quarter last year. Analysts on average had expected a profit of […]

Nissan board fires chair Ghosn following arrest

Nissan’s board voted unanimously to oust its chair, Carlos Ghosn, on Thursday after the shock arrest of the industry heavyweight, ushering in a period of uncertainty for its 19-year alliance with Renault. The Japanese firm said its board also voted to remove Greg Kelly — who, like Ghosn, has been arrested after allegations of financial misconduct — from his post as representative director. The […]

Zero-emission rules mean fewer electric car choices for most Canadians: Don Pittis

Canadians trying to buy the electric vehicle of their choice in many parts of the country are finding it almost impossible — and a provincial strategy intended to get more green cars onto dealers’ lots may actually make the problem worse. The strategy — called a zero-emission vehicle standard, or “ZEV mandate” — has already been imposed in Quebec. There are now widespread rumours that British […]

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 […]