AltaGas selling U.S. assets for $940 million

AltaGas selling U.S. assets for $940 millionAltaGas Ltd. announced on Monday that it’s selling its portfolio of U.S. distributed generation assets held by its subsidiaries WGL Energy Systems Inc. and WGSW Inc., to TerraForm Power Inc., an affiliate of Brookfield Asset Management, for about $940 million. The transaction, which is expected to close in the third quarter, is subject to customary…

Alberta cities lack tech talent of other major North American markets

Toronto ranked third, Vancouver 12th, Montreal 13th and Ottawa 19th in top-50 list: CBRE report

Alberta cities lack tech talent of other major North American marketsAs Calgary and Edmonton try to establish a significant tech industry in Alberta, a report released on Thursday by commercial real estate firm CBRE indicates just how far behind Alberta is when it comes to tech talent. Neither Alberta city made it to the top 50 list in North America for tech talent. But both…

Two-thirds of non-bank residential mortgages are uninsured

Two-thirds of non-bank residential mortgages are uninsuredStatistics Canada reported Friday that non-bank mortgage lenders held 1.7 million residential mortgages in the fourth quarter of 2018, two-thirds of which were uninsured. At the end of the fourth quarter of 2018, 1.7 million residential mortgages with a total value of $325.5 billion were outstanding, it said, adding that the uninsured mortgages outstanding contributed…

Canadian small business owners missing out on online opportunities

Canadian small business owners missing out on online opportunitiesA study released on Tuesday by the Business Development Bank of Canada (BDC) clearly highlights the importance for entrepreneurs having an online presence. Such a presence leads to higher revenues, direct communication with customers and easier access to global markets. But the study finds that only four out of 10 Canadian small and medium-size businesses…

TC Energy selling its U.S. midstream assets for $1.7 billion

Part of efforts to fund portfolio of natural gas pipelines, liquids pipelines and power generation projects

TC Energy selling its U.S. midstream assets for $1.7 billionTC Energy Corp. has announced it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary Columbia Midstream Group to UGI Energy Services, LLC, a subsidiary of UGI Corp., for about $1.7 billion. The company, formerly known as TransCanada, said the transaction is expected to close in the third quarter…

WestJet, Delta Air Lines move closer to joint venture

Canadian Competition Bureau gives clearance. Regulatory approval still needed from U.S. Department of Transportation

WestJet, Delta Air Lines move closer to joint ventureCalgary-based WestJet and Delta Air Lines announced on Thursday that their proposed U.S.-Canada transborder joint venture has received clearance under Canada's Competition Act from the Canadian Competition Bureau.  The airlines said the bureau issued a no-action letter confirming that it doesn’t intend to challenge the proposed joint venture agreement between WestJet and Delta. “Today's clearance by…

Major Canadian cities relatively cheap to live in: survey

Global survey says a number of factors contribute to the cost of expatriate packages for employees on international assignments

Major Canadian cities relatively cheap to live in: surveyMajor Canadian cities continue to be ranked among the lowest in the world in terms of cost of living, according to a survey released on Wednesday. Mercer’s 25th annual Cost of Living Survey of 209 cities across the globe finds cities in Asia the most expensive. Calgary ranked 153, the same as last year. Vancouver…

GDP tied to Canadian natural resource sector declines

All subsectors fell in the first quarter of the year, as did exports, according to Statistics Canada

GDP tied to Canadian natural resource sector declinesCanada’s natural resource sector is a key economic driver for the country – but the sector is still struggling. According to a report released on Wednesday by Statistics Canada, real gross domestic product (GDP) of the natural resources sector fell 1.9 per cent in the first quarter, the largest decline since the second quarter of…

Purolator plans to invest $1 billion in Canadian operations

Record growth over the past three years meant the company picked up and delivered over 250 million packages in 2018

Purolator plans to invest $1 billion in Canadian operationsPurolator says it will invest more than $1 billion in its Canadian operations as a result of record volume and e-commerce growth. “Today's announcement is one of the most ambitious in our company's history and will future-proof our business,” said John Ferguson, president and CEO of Purolator, in a news release. “Purolator has experienced record…
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