Plastic straws on the outs – Business News

The Canadian Press –
July 4, 2018 / 9h47 | story:
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The Canadian Press –
July 4, 2018 / 6:49 am | story:
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Two months after fires and explosions broke out on its recently purchased asphalt refinery at Superior, Wis., Husky Energy Inc. still does not know when it will be able to restart spokesman Mel Duvall says investigations are continuing into the cause of the April 26 incident, in which 11 people were injured and nearby homes evacuated while plumes of black smoke were reported. rose in the sky

. will not be able to fully badess the damage and plan a recovery plan until the US Chemical Product Safety Board completes its cause determination.

Husky bought the 50,000-barrel-a-day refinery at Calumet Specialty Products for $ 570 million in an agreement that closed in November.

According to a website update on Monday, cleaning efforts progressed to the point that the offsite incident control center was moved to the property. Husky claims to have received approximately 3,300 claims from local businesses and residents who incurred expenses or suffered losses during the incident, of which approximately 2,700 were settled.

"We have insurance, both on the badets and the operating losses, and we have made other arrangements to continue to provide customers No employees were fired" said Duvall in an email. We are able to provide an update (on cost) of our second quarter teleconference later this month. "

He said that all the injured people were released from the hospital.

On the site, Husky says he's expecting to be able to bring in trucks later this month to remove the stored asphalt inventory.

The Canadian Press –
July 4, 2018/6 h 24 | story:
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Enbridge Inc. has entered into an agreement to sell its Canadian natural gas gathering and processing business to the Montney, Peace River Arch, Horn River and Liard Basins in British Columbia and Alberta. Intermediate sector badets include 19 natural gas processing plants and liquid handling facilities, with a total operating capacity of 3.3 billion cubic feet per day and 3,550 kilometers of natural gas pipelines collection of natural gas

. According to CEO Al Monaco, with $ 7.5 billion in deals announced this year, the company has more than doubled its initial target of $ 3 billion.

Enbridge says that it will continue to hold non-core badets. its long-term regulated natural gas transmission badets that include Westcoast's transmission system in British Columbia; and the Alliance Pipeline that transports natural gas from Western Canada. The market is subject to a number of conditions, should be closed in two phases, with provincially regulated facilities scheduled to close this year and those subject to federal regulations to be completed by mid-2019.

The Canadian Press –
July 3, 2018 / 2:20 pm | story:
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The new Ontario premier has taken a step forward in his plan to dismantle the province's cap-and-trade system, which, according to some observers, leaves the companies involved in the program uncertain. In a statement released Tuesday, Doug Ford said that he has repealed the regulation that sets the carbon pricing system and that his government will officially begin winding down all green programs funded through this week.

orders that have already been signed for projects funded by the cap and trade system, such as energy-efficient insulation and window upgrades.

Some rebates for energy-efficient renovations funded by cap-and-trade revenues – like the GreenON rebate program – were already eliminated before Ford took office last week.

The prime minister said the government will decide on a case-by-case basis whether subsidies already funded by the program will be paid for the use of tax revenues. These decisions will take into account his overall plan for the province and the results of an upcoming audit of the government's value-for-money, he said.

The Progressive Conservative Leader, Officially Invested as Prime Minister Friday, Promised To Cancel the Program, the Prime Minister must first amend or repeal the law that governs it, said Keith Brooks, Director of Programs Environmental Defense Defense Group. The law sets targets for climate change and provides for quota and exchange revenue for green initiatives, among other things, he said.

The government must also officially inform its partners of the Western Climate Initiative that it is pulling out of the trading and commercial system, Brooks added. The agreement signed by the province stipulated that the government would endeavor to give one year's notice before retiring, but it is not certain that Ford plans to do so, a he said.

"We know the Prime Minister has promised We understand that he is acting swiftly to keep that promise, but I think there are problems here because there are issues which has not been answered. "

Ontario companies bought nearly $ 3 billion worth of permits under the Brooks way, some suggested that the province should offer a full refund.

More details are also needed on how green initiatives funded by capping He said that trade would be closed so that consumers and businesses involved in the delivery of these services can make decisions and plans, he said.

"I think there are a lot of companies that still have a lot of" Mrs. "People need details on exactly when this will end and if there are "

The NDP and the Greens have stated that Ford's rush to withdraw from the cap-and-trade system could make taxpayers pay the price. billions in legal fees, penalties and other costs.

The Canadian Press –
July 3, 2018 / 8h50 | story:
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Canada's main stock index depreciated in the late morning while the industrial sector was on the decline, while the US stock markets rose slightly

The S & P / TSX composite index fell by 28.06 points to 16,249.67, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 27.71 points to 24,334.89. The S & P 500 index was up 2.51 points to 2,729.22 and the Nasdaq composite index down 6.38 points to 7,561.31 [19659006] The Canadian dollar s & # 39 traded at 75.93 US cents, down from an average value of 75.94 US cents on Friday.

The August deal fell 76 cents to US $ 73.18 a barrel and the August natural gas contract rose 1 cent to US $ 2.87 per mmBTU.

The gold contract increased from $ 14.50 to $ 1,256.60 US an ounce. down one cent to US $ 2.93 per pound.

The Canadian Press –
July 3, 2018 / 8:09 | story:
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According to a report by RBC, housing affordability in Canada worsened in the first quarter, ending a one-quarter reprieve, the first in two and a half years

. Household income required for mortgage payments, property taxes and utilities increased 0.4 percentage points from the fourth quarter to 48.4%.

The move reversed a 0.3 percentage point decline in the fourth quarter. The previous two quarters, but a decline in housing prices primarily in the Greater Toronto Area, have slightly reduced property costs.

The report adds that a one percentage point increase in the Bank of Canada's overnight lending rate would reach 2.25% in the first half of 2019 is about to increase. aggravate the affordability of housing.

Homeownership costs in the Vancouver area peaked at 87.8% in the first quarter, up 1.5 percentage points over the quarter. considered a crisis level. The Toronto metropolitan area saw its affordability improve slightly to 74.2% as lower house prices offset higher interest rates.

Affordability declined slightly in most other Canadian markets due to higher interest rates.

Saskatoon, Ottawa, Halifax and St. John's (NL) experienced the greatest deterioration in affordability in more than a year, but the costs housing remained low, ranging from 27% to 36.6%.

The report Stress could be felt in the greater Montreal area, where costs reached their highest level since 2011 with 43.7%.

The Canadian Press –
July 3, 2018 / 7h39 | story:
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BCE Inc. won a multi-year contract to operate Alberta SuperNet, the government-led broadband initiative.

The company will badume all broadband operations

Bell owns and operates the SuperNet badets serving 27 urban centers in Alberta

It will now operate the network connecting 402 communities in rural areas of Alberta. 39, Alberta

. It has entered into an agreement to acquire Axia NetMedia Corp., the rural badets operator of SuperNet based in Calgary.

The financial terms of the agreement were not immediately available.

The Canadian Press –
July 2, 2018 / 8:08 | story:
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New 10% Ottawa Whiskey Tariff Could Force Bourbon Enthusiast Canadian distillers are concerned that this politically motivated decision is a reciprocal target for their industry.

The federal government confirmed Friday that American whiskey is on its final list of dozens of US products. merchandise subject to retaliatory tariffs that began July 1 in response to overwhelming steel and aluminum tariffs imposed by the Trump administration.

The strike is both political and symbolic: Kentucky, Senate Majority Leader Mitch McConnell the heart of a distinctly American product in the midst of an increase in global popularity.

Any price increase could cause some Canadian consumers to choose a domestic product. mix, a historic Canadian product that knows its own moment in the global spotlight, including the recognition of Crown Royal's Northern Harvest Rye as a global whiskey of the year 2016.

But Canadian distillers also fear that the tariffs entail reciprocal withdrawals from the United States. President Donald Trump against Canadian whiskeys sold on the biggest market in the United States, just as the Americans seem to adopt the lighter spirit north of the border.

Kentucky Whiskey Producers and Tennessee-Style Whiskeys Could Increase Canadian Consumers' Tariff by 10 Percentage

Jack Daniel's producer has already announced that he would raise prices by $ 50,000. about 10 percent in the European Union because of a new tariff of 25 percent in response to Trump's rights on steel and aluminum from the trading block.

The Canadian Press –
June 29, 2018 / 13:03 | story:
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When Senator Patrick Toomey looks into the future of the ketchup market in his state of Pennsylvania, he sees real blood on the ground.

Sunday, the value of $ 16.6 billion Canada's response to the crushing steel and aluminum tariffs imposed by the Trump administration.

Ketchup is blacklisted in Canada, which worries Toomey because its head office is in Pennsylvania. Four years after the company closed in Leamington, Ontario, killing 750 Canadian jobs, Toomey, a Republican, worries that the doors will be closed to workers in his state.

"We see the threat to their jobs. Said US Secretary of Commerce Wilbur Ross in his recent testimony before the Senate.

"I am really concerned about retaliation, which has not even begun to hit us, but it is going to hit the people who make Kraft and"

The Impact of Canada's Reprisals Spread beyond ketchup, beyond Pennsylvania, beyond its neighbors Trump's other Republican friends in the Midwest and South, according to an badysis of the United States.

Canadian bonds will leave traces on democratic states, such as New York, Washington, and Illinois, according to federal government figures based on data obtained from Statistics Canada and the US Census Bureau.

After Trump's announcement of the tariffs, the Trudeau government threatened to levy a 10% surtax on dozens and dozens of US consumer goods – unless the US recedes.

Washington has shown no sign of rebound. should begin Sunday, which is also Canada Day. Prime Minister Justin Trudeau will mark Canada's birthday by visiting two locations on the front line of the trade dispute.

One of Trudeau's judgments will be a major steel refiner in Regina. The other is the main operation of canning and food processing in Leamington that was abandoned by Heinz

Ottawa released its final list of products targeted on Friday – and the impact will not be negligible .

In 2017, Canada imported nearly $ 4 billion The value of these goods comes solely from Pennsylvania, Ohio, Michigan, Wisconsin and Illinois.

Ohio, which almost always determines who wins the presidency, is probably the hardest hit. It exported about $ 1.3 billion worth of goods to Canada last year.

The state is the largest exporter of a wide variety of products in Canada that will likely be subject to tariffs. Based on 2017 figures, the list includes: washing machines ($ 131 million); toilet paper ($ 91 million); organic facial cleanser ($ 100 million); lawn mowers ($ 83 million); candles ($ 40 million); room deodorizers ($ 27.5 million);

Of the items listed, Canada imported nearly $ 158 million in Florida orange juice in 2017; nearly $ 200 million worth of coffee from the state of Washington; about $ 176 million of toilet paper from Wisconsin and Ohio combined; and $ 84 million worth of herbicides from Michigan

Compared with the original tariff schedule published on May 31, Ottawa removed only a handful of items. Beer kegs, prepared mustard and thermostats were among those removed from Friday's final list.

The Canadian Press –
June 29, 2018 / 8h29 | story:
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Canada's major stock market index posted a three-digit rise in the late morning, as rising oil prices boosted the energy sector, while the loonie has progressed.

The TSX Composite Index rose 115.36 points to 16,295.25, after 90 minutes of trading.

In New York, the Dow Jones industrial average jumped 274.71 points to 24,490.76. The S & P 500 index was up 25.37 points to 2,741.68 and the Nasdaq composite index of 66.26 points to 7,569.94

The Canadian dollar s & # 39; traded at 76.01 cents US, up from 75.37 cents US Thursday crude price in August was up 73 cents to US $ 74.18 a barrel and the natural gas contract August was down two cents to US $ 2.92 per mmBTU.

The August gold contract was up from $ 1.70 to $ 1,252.70 an ounce and the September copper contract remained unchanged at $ 2.97 US per pound [19659022] The Canadian Press –
June 29, 2018 / 07:55 | story:
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The Bank of Canada's Quarterly Business Outlook Survey reveals widespread commercial optimism, the outlook for sales remain robust. The business outlook indicator has reached its highest level since the second quarter of 2011, with responses to most survey questions being above their historical averages, the central bank said Friday. Canada stated that almost all business interviews had been conducted prior to the US announcement of tariffs on imports of steel and aluminum from Canada.

Rising trade tensions between Canada and the United States, raised concerns for the economy.

The survey conducted with a hundred or so companies revealed that the balance of opinion on future sales growth was marginally positive as domestica. Housing-oriented businesses, including those related to housing in some regions, were expected to grow moderately.

Companies that were optimistic about their sales prospects were often hoping to benefit from sustained foreign or domestic demand, improving the prices of raw materials or new products. Statistics Canada also reported that real gross domestic product edged up 0.1% in April from the previous month, exceeding economists' expectations for the month.

Since last summer, the Bank of Canada has raised its key interest rate target three times, prompting major Canadian banks to raise their key interest rates. The target of the central bank for the overnight rate is 1.25%

The business outlook survey was conducted from May 3rd to June 5th.

The Canadian Press –
June 29, 2018 / 7h50 | story:
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Enbridge Inc. shares rose more than seven percent in Toronto on Friday morning after Minnesota regulators substantially endorsed the airline's preferred route. State to modernize the pipeline of crude oil in the process of deterioration. The stock climbed to $ 47.24 in early trading as a result of the routing decision was added to the news on Thursday as state commissioners had acknowledged the need for the pipeline, despite the opposition of indigenous and local environmental activists.

Enbridge's business plan is largely negative as the project accounts for the largest portion of its $ 22 billion capital growth program over the next two years.

Enbridge estimated the cost of the Canadian section at $ 5.3 billion. billion budget for the US segment.

He estimates that the pipeline will be in service in the second half of 2019, although badysts have warned that it could take until the fir trees If the major civil disobedience delays the construction, the The pipeline company will have 60 days to negotiate a settlement with the Fond Du Lac Band to determine the route of a stretch of pipeline that crosses its territory, but which will be able to: "

" It s & # 39 is a critical infrastructure to help decongest Enbridge's existing exit capacity in Western Canada and allow heavy oil spreads to narrow in 2020, "badyst Ian Gillies of GMP FirstEnergy The capital indicated in a report.

The current lack of capacity on export pipelines has been blamed for steeper discounts than usual in prices for Canadian heavy oil.