U of C’s Haskayne School of Business helping energy startups

Twenty-five ventures to be selected for the launch of the Creative Destruction Lab Energy program

U of C’s Haskayne School of Business helping energy startupsThe University of Calgary’s Haskayne School of Business is launching a new program to help early-stage energy ventures bring their technologies to the market. This weekend, the school’s Creative Destruction Lab (CDL) Rockies will select a group of 25 ventures for the program’s launch of CDL Energy. “Calgary is already known for its pioneers and…

Record pace for Canadian investors acquiring foreign bonds

The level of investment in 2018 has already surpassed the record investment for one year set in 2006: StatsCan

Record pace for Canadian investors acquiring foreign bondsCanadian investors are acquiring foreign bonds at a record pace. A report released on Monday by Statistics Canada showed that Canadian investment in foreign securities totalled $13.1 billion in July, following an $11.2 billion investment in June. “Canadian investment in foreign debt securities reached a record $13.9 billion in July. Acquisitions of non-U.S. foreign bonds…

RV-rent entrepreneurs persevered until business was rolling

It took Chad and Cherie Ball of Wheel Estate years to get their business on the road, but they refused to abandon their dreams

RV-rent entrepreneurs persevered until business was rollingChad and Cherie Ball are owners of Wheel Estate. Calgary’s Business: What is Wheel Estate and how did the company come into being? Chad and Cherie: Wheel Estate is a peer-to-peer RV trailer sharing marketplace. We efficiently connect people who would like to rent a travel trailer with owners whose trailer would otherwise go unused, backing…

ATCO expanding global infrastructure portfolio

Calgary-based company purchases 40% of Neltume Ports, a port operator and developer in South America, for $450 million

ATCO expanding global infrastructure portfolioCalgary-based ATCO is expanding its global infrastructure portfolio with the acquisition of 40 per cent of Neltume Ports, a leading port operator and developer in South America, for $450 million. The company said Neltume Ports, a subsidiary of Ultramar, operates in 16 port facilities and three stevedoring businesses primarily located in Chile and Uruguay. “This…

Sims committed to taking WestJet to new heights

President and CEO Ed Sims lays out an expansive and optimistic future for the Calgary-based airline

Sims committed to taking WestJet to new heightsEd Sims is president and CEO of WestJet. Calgary’s Business: What’s your vision for WestJet in the near-term and long-term? Sims: My mandate from the outset has been to return WestJet to previous levels of profitability and build trust and confidence among our 13,000 WestJet employees. Our people are our ‘secret sauce’ and we are…

Canadian Tire net income declines

But second-quarter revenue rose by 3.2% to $3.48 billion and retail sales were up by 3.6% to $4.25 billion

Canadian Tire net income declinesNet income for Canadian Tire Corp. fell by 19.6 in the second quarter compared with a year ago. In announcing its financial results on Thursday, the company said net income for the quarter, ended June 30, was $174.4 million. It also reported that revenue rose by 3.2 per cent to $3.48 billion and that retail…

Energy sector drives up returns on Canadian pension plans and equities

But a new RBC Investor and Treasury Services report cautions that trade friction could impact the market

Energy sector drives up returns on Canadian pension plans and equitiesCanadian defined benefit pension plans were up 2.2 per cent in the second quarter and Canadian equities rose to 6.8 per cent. The latter reversed the first quarter loss of 3.9 per cent. A recent report from RBC Investor and Treasury Services All Plan Universe says the rebounding energy sector played a role. In a…

WestJet reports ‘disappointing’ $20.8-million second-quarter loss

Increasing aircraft fuel prices, severe weather-related events and the threat of a pilot strike all played roles

WestJet reports ‘disappointing’ $20.8-million second-quarter lossWestJet closed out its second quarter with a reported net loss of $20.8 million. The Calgary-based airline attributed the hit to “numerous challenges” faced during the first half of the year, including increasing aircraft fuel prices, severe weather-related events, and the impact of the threat of a pilot strike. WestJet president and CEO Ed Sim said…

Vermilion Energy production up 15% in second quarter

Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations

Vermilion Energy production up 15% in second quarterCalgary-based Vermilion Energy Inc. announced on Monday that production increased by 15 per cent in the second quarter to 80,625 barrels of oil equivalent per day (boe/d). Greater production volumes and higher commodity prices resulted in $193 million in fund flows from operations in the second quarter, marking a 23 per cent increase from the…

Imperial Oil net earnings hit nearly $200 million in quarter

Energy giant Imperial Oil reported on Friday that its second quarter earnings reached $196 million, an increase of $273 million compared to the net loss of $77 million in the same period of 2017. It said the quarter was characterized by significant planned maintenance at its major upstream and downstream assets. These activities affected operational…

Suncor net earnings reach $972 million in second quarter

The company’s Fort Hills project continues to ramp up ahead of schedule

Suncor net earnings reach $972 million in second quarterCalgary-based energy giant Suncor had net earnings of $972 million in the second quarter, up from $435 million for the same period in 2017. “Suncor generated the strongest second quarter cash flow on record, with funds from operations of $2.9 billion and operating earnings of $1.2 billion,” said Steve Williams, president and chief executive officer,…

Sask’s Thunderchild First Nation invests $8 million with Westleaf Cannabis

Westleaf plans about 175,000 square feet devoted to production and manufacturing

Sask’s Thunderchild First Nation invests $8 million with Westleaf CannabisCalgary-based Westleaf Cannabis Inc. has received an $8-million investment from Saskatchewan’s Thunderchild First Nation. In a news release, the company said the investment makes Thunderchild the largest shareholder of Westleaf, and is accompanied by a seat being allocated to Chief Delbert Wapass on the company's board of directors. “Since its inception, Westleaf has firmly believed…

Revenues rise but net income dips for Canadian Pacific Railway

Second quarter financial report reflects service interruptions related to labour negotiations but tentative long-term deals are now in place

Revenues rise but net income dips for Canadian Pacific RailwaySecond quarter revenues for Calgary-based Canadian Pacific Railway Ltd. hit $1.75 billion from $1.64 billion last year. The company, in releasing its quarterly financial report on Wednesday, said revenues rose by seven per cent from a year ago. It also reported that diluted earnings per share  of $3.04, or $3.16 on an adjusted diluted earnings…

Mainstreet Equity reports ‘promising’ results

Rental revenue increases, vacancy rate drops despite lingering economic uncertainty in Alberta

Mainstreet Equity reports ‘promising’ resultsCalgary-based Mainstreet Equity Corp. saw rental revenue increase and its same asset vacancy rate drop in the third quarter of its fiscal year. The company, which is an add-value, mid-market consolidator of apartments in Western Canada, reported on Tuesday that rental revenue increased 11 per cent to $29.3 million in the quarter, which ended June 30.…

Foreign investors continue to shun Canada; Canadians investing abroad

Foreign investment in Canadian securities was $2.2 billion in May, the lowest level so far in 2018. Canadians add $5.7 billion worth to their foreign holdings

Foreign investors continue to shun Canada; Canadians investing abroadForeign investment in Canadian securities slowed to $2.2 billion in May, down from $9.1 billion in April but Canadian investors resumed their investment in foreign securities by adding $5.7 billion worth to their holdings, mainly in foreign bonds, says Statistics Canada. “The investment pattern in May, both inward and outward, reflected acquisitions of bonds and…
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