Encana to acquire all outstanding shares of Newfield

The $5.5 billion transaction positions the company 'to deliver highly efficient growth and quality returns’

Encana to acquire all outstanding shares of NewfieldEncana Corp. is acquiring all of the outstanding shares of common stock of Newfield Exploration Co. in an all-stock transaction valued at approximately $5.5 billion, it was announced on Thursday. In a news release, the companies said Encana will also assume $2.2 billion of Newfield net debt. “The strategic combination will create a leading multi-basin company…

Canadian Natural posts $1.8B net earnings in third quarter

The price per diluted share was $1.47, up from 56 cents a year ago

Canadian Natural posts $1.8B net earnings in third quarterNet earnings for Canadian Natural Resources Ltd. climbed to $1.8 billion in the company’s third quarter, up from $684 million a year ago. “The strength of our well balanced and diverse portfolio, combined with Canadian Natural's ability to effectively and efficiently execute, delivered a strong third quarter for the company,” said Steve Laut, executive vice-chairman,…

Good news for the Canadian economy

Real GDP rose for the seventh consecutive month, led by oil and gas extraction

Good news for the Canadian economyThere was good news for the Canadian economy on Wednesday. Statistics Canada reported that real gross domestic product rose for a seventh consecutive month, edging up 0.1 per cent in August as growth was concentrated in oil and gas extraction and finance and insurance, which more than offset declines in 12 of 20 industrial sectors.…

Energy giant Cenovus reports net loss of $242M in quarter

The company said wide differentials Canadian oil producers have experienced will begin to ease in coming months

Energy giant Cenovus reports net loss of $242M in quarterEnergy giant Cenovus reported on Wednesday a third-quarter loss of $242 million compared with net earnings of $275 million in the third quarter of 2017. The Calgary-based company also said capital investment fell to $271 million in the quarter, which was down from $438 million a year ago. It said it generated more than $700…

Canadian Tire boosts e-commerce offering

Calgary, Vancouver, Saskatoon, Ottawa and Toronto included in first group of self-serve pick-up locations

Canadian Tire boosts e-commerce offeringRetail giant Canadian Tire announced on Wednesday that it has become the first Canadian retailer to put into market new, automated, 16-foot Self-Serve Pick-Up Towers at select locations across the country. The locations are Calgary, Vancouver, Saskatoon, Ottawa and Toronto. It said the Ottawa area will see two new ways to pick up online purchases…

A food service pioneer keeps growing

OPA! of Greece marks its 20th year with the same commitment to quality, healthy choices and variety

A food service pioneer keeps growingTheodore “Dorrie” Karras is president and CEO of  OPA! of Greece. Can you explain the history of OPA! and how it started? Karras: Opa! started 20 years ago in 1998. Founders Nick Tiginagas and Don Gebauer opened the first location in Market Mall in Calgary. At the time, Greek food was not prevalent in food…

WestJet net earnings plunge more than 66% from a year ago

The airline reported on Tuesday that net earnings of $45.9 million were down from $135.9 million from the third quarter of 2017

WestJet net earnings plunge more than 66% from a year agoNet earning for Calgary-based WestJet fell by 66.3 per cent in the third quarter from a year ago. The airline reported on Tuesday that net earnings of $45.9 million were down from $135.9 million from the third quarter of 2017. The company reported diluted earnings per share of $0.40, which was down 65.2 per cent…

Remote work could be multibillion-dollar boon to economy

Higher business and personal productivity, lower overheads cited

Remote work could be multibillion-dollar boon to economyRegus, a leading global workspace provider, says a predicted boom in flexible working could contribute US$369 billion to the Canadian economy – and $10.04 trillion to the global economy – by 2030. The study said there will be a 59 per cent growth in the number of jobs associated with flexible workspaces by 2030 –…

Lack of financial literacy skills hurting Canadians

MNP survey says without necessary skills, Canadians are easily lured into debt

Lack of financial literacy skills hurting CanadiansA lack of skills and education are contributing to surging consumer debt in Canada, says a new survey by MNP Ltd. Survey results, which were released on Tuesday, said 85 per cent of Canadians agree that financial literacy in Canada is lacking, and this lack of knowledge is contributing to Canada’s consumer debt problem (87…

Canadian freight rail volume jumps in August

StatsCan says fuel oil and crude petroleum shipments led the way

Canadian freight rail volume jumps in AugustThe volume of rail freight carried in Canada totalled 33.1 million tonnes in August, up 7.7 per cent  from the same month a year earlier, according to Statistics Canada. The federal agency reports that freight originating in Canada rose 7.7 per cent year over year to 29.6 million tonnes in August. “Non-intermodal freight increased by…