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Business Canada

  • CALGARY, Alberta, May 26- Ratings agency Standard& Poor's downgraded the Canadian crude-producing province of Alberta two notches to' A+' from' AA' on Friday, citing high budget deficits and growing levels of debt as the province struggles with depressed global oil prices. Alberta is home to Canada's vast oil sands but has been hammered by the 50 percent drop in crude...

  • *Canadian dollar at C $1.3460, or 74.29 U.S. cents. Oil is one of Canada's major exports. Speculators increased net short positions in the Canadian dollar to 99,109 contracts as of May 23 from 98,000 a week earlier, data from the Commodity Futures Trading Commission and Reuters calculations showed.

  • BURLINGTON, Ontario _ Pelangio Exploration Inc. on Friday reported first-quarter net income of $60,000. The Burlington, Ontario- based company said it had net income of less than 1 cent on a per-share basis. This story was generated by Automated Insights using data from Zacks Investment Research.

  • CALGARY, Alberta, May 26- Ratings agency Standard& Poor's downgraded the Canadian crude-producing province of Alberta two notches to A+ from AA on Friday, citing high budget deficits and growing levels of debt as the province struggles with depressed global oil prices. Alberta is home to Canada's vast oil sands but has been hammered by the 50 percent drop in crude...

  • TORONTO, May 26- The Toronto Stock Exchange's efforts to win a slice of the massive Saudi Aramco public listing plays up the country's deep experience in natural resources as part of a broader offer to help the kingdom with its shift away from oil dependence. One source directly involved in the Canadian pitch told Reuters they are focused on convincing the...

  • Future generations are on course to become enveloped in the biggest pension crisis in history, according to the World Economic Forum (WEF).

  • May 25- Kinder Morgan Inc has made a final investment decision on its Trans Mountain pipeline expansion, contingent on the successful public offering of its Canadian division, the company said on Thursday as it acknowledges the political uncertainty weighing on the project. An election this month in the Canadian province of British Columbia, through which...

  • FRIDAY, MAY 26 MONTREUX, Switzerland- ECB Board Member Benoit Ceure participates in 24th Reunion of the Governors des Banques Centrales des Pays Francophones Organized by the Swiss National Bank- 2000 GMT. TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the 2017 Spring Annual Meeting of the Japan Society of Monetary Economics. BRUSSELS- ECB President...

  • FRIDAY, MAY 26 MONTREUX, Switzerland- ECB Board Member Benoit Ceure participates in 24th Reunion of the Governors des Banques Centrales des Pays Francophones Organized by the Swiss National Bank- 2000 GMT. TOKYO- Bank of Japan Governor Haruhiko Kuroda speaks at the 2017 Spring Annual Meeting of the Japan Society of Monetary Economics. BRUSSELS- ECB President...

  • VANCOUVER, British Columbia _ Silvercorp Metals Inc. on Thursday reported fiscal fourth-quarter net income of $13.5 million, after reporting a loss in the same period a year earlier. The Vancouver, British Columbia- based company said it had profit of 8 cents per share. For the year, the company reported profit of $43.7 million, or 25 cents per share.

  • TORONTO, May 25- Distributed ledger technology, a new approach for processing transactions that is being widely tested across the financial industry, is not yet mature enough to run a national interbank payment settlement system, the Bank of Canada said on Thursday. The bank reached that conclusion after a closely watched year-long trial code-named " Jasper,"...

  • CALGARY, Alberta, May 25- Alberta oil and gas land sales have reached levels not seen since 2014 thanks to a rush to buy land in an oil-rich pocket of the Duvernay shale play that was until recently written off as being uneconomic. To be sure, exploration in the East Shale Basin is in its infancy, spurred on by improving fracking technology, and geologists are still...

  • TORONTO, May 25- Distributed ledger technology, a new approach for processing transactions that is being widely tested across the financial industry, is not yet mature enough to run a national interbank payment settlement system, the Bank of Canada said on Thursday. "The bottom line is that a stand-alone DLT wholesale system is unlikely to match the efficiency...

  • TORONTO, May 25- Modernizing Canada's aging payments systems will help strengthen the stability and efficiency of the country's financial system and reduce systemic and liquidity risk, a senior official at the Bank of Canada said on Thursday. Like most central banks, the Bank of Canada is mandated to oversee the country's main large-value and retail payments...

  • TORONTO, May 25- Three of Canada's biggest banks on Thursday played down concerns that Home Capital Group's problems could impact the broader financial system and reported quarterly results that topped market expectations. The withdrawals accelerated after April 19, when Canada's biggest securities regulator, the Ontario Securities Commission, accused...

  • May 25- Rayonier Advanced Materials said it would buy Canada's Tembec Inc for $807 million including debt to expand its business into packaging and forest products, sending Tembec's shares to a five-year high on Thursday. The deal comes at a time when Canada is resisting a move by the United States to impose tariffs on Canadian lumber imports.

  • TORONTO, May 25- Three of Canada's biggest banks on Thursday played down concerns that Home Capital Group's problems could impact the broader financial system and reported quarterly results that topped market expectations. The comments from executives came as investors, worried about a possible slowdown in Canada's red-hot housing market, are...

  • REUTERS POLL-12 OF 14 ANALYSTS SAY RECENT ONTARIO CURBS ON SPECULATION LIKELY TO MODESTLY COOL HOUSING MARKET IN TORONTO, NEARBY AREAS.

  • Matching British Columbia's move last year for Vancouver, Ontario's provincial government introduced a 15 percent tax on property purchases by foreign buyers in Toronto in April as part of 16 measures to cool the property market. "Low interest rates are going to be oxygen... that keeps the fire going in the Toronto and BC housing markets- and that fire has spread to...

  • PHILIPPI, W.Va.— An explosion at a West Virginia industrial plant has killed two people and injured a third. Barbour County Sheriff's Department Chief Deputy Brett Carpenter said the names of those who died wouldn't be released until family members were notified. The West Virginia Department of Environmental Protection says workers at the facility outside...