CN Rail, First Nation plan to break ground on new ‘bitumen puck’ facility this year

As a puck made of oilsands bitumen was tossed into the air, railway executive James Auld joked, “we almost had an oil spill there.” Auld and other officials were upbeat as they gave their first public presentation on the pucks — a solid product similar to coal that can float in water.  CN Rail and an Alberta First […]

Royal Bank cuts 5-year fixed mortgage rate, others likely to follow suit

Canada’s biggest bank has cut its five-year fixed-term mortgage rate, a move that other banks are likely to try to match in short order. Royal Bank edged the rate on its five-year “special offer” mortgage down to  3.74 per cent, a cut of 0.15 percentage points. Though subtle, the move is likely to prompt similar actions […]

House speaker asks Trump to delay State of the Union speech amid government shutdown

The U.S. economy is taking a larger-than-expected hit from the partial government shutdown, White House estimates show, as contractors and even the coast guard go without pay, and talks to end the impasse seem stalled. The longest such shutdown in U.S. history has dragged into its 26th day with neither President Donald Trump nor Democratic congressional […]

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. […]

‘It’s like they robbed me’: Rapper 2 Milly on why he’s suing makers of video game Fortnite over dance moves

Rapper 2 Milly’s lawsuit against the makers of the wildly popular video game Fortnite is raising questions about whether unique choreography can be copyrighted. The New York-based hip-hop artist, whose real name is Terrence Ferguson, is claiming Epic Games ripped off a signature dance move popularized in 2015 called “Milly Rock” and renamed it “Swipe it.” “If you have […]

Qatar to leave OPEC and set own oil and gas output

The tiny, energy-rich Arab nation of Qatar announced on Monday it will withdraw from OPEC in January, meeting its aspirations to increase production outside of the cartel’s constraints and slighting the Saudis who are currently boycotting Doha.  The surprise announcement from Qatar’s minister of state for energy affairs, Saad Sherida al-Kaabi, again throws into question […]

Dolce&Gabbana founders apologize to China after ad, Instagram fiasco

The co-founders of Dolce&Gabbana apologized Friday in a video on Chinese social media after promotional videos seen as racist and subsequent Instagram messages stoked a furor in one of the world’s largest markets for luxury goods. Domenico Dolce and Steffano Gabbana appeared in a nearly 1 1/2 minute video posted on Weibo, a Chinese version […]