Husky Energy net earnings $545 million in third quarter

The company said it generated funds from operations of $1.3 billion in the quarter, up 48%

Husky Energy net earnings $545 million in third quarterNet earnings for Husky Energy soared in the third quarter of this year. The Calgary-based energy company reported on Thursday that net earnings were $545 million, a 300 per cent increase compared to $136 million in the third quarter of 2017. Net debt at the end of the quarter was lowered to $2.6 billion. “Husky’s…

Getting top value for high-quality barite deposits

John Rucci of Voyageur Minerals talks about the journey from discovery to marketing rare minerals

Getting top value for high-quality barite depositsJohn Rucci is president and CEO of Voyageur Minerals. Please explain the history of Voyageur. How did it come about and what does it do? Rucci: Voyageur was started in 2012 by Brent Willis, chief operating officer, and Brad Willis, vice-president of exploration, as a private company. They’ve been exploring for minerals and in particular…

CN net income surpasses $1 billion in third quarter

Railway company says 22 of 27 capacity expansion projects have been completed this year

CN net income surpasses $1 billion in third quarterCN reports net income of $1.134 billion in the third quarter of the year, an 18 per cent hike from a year ago for the railway company. It also reported that 22 of 27 capacity expansion projects have been completed this year. Revenue in the quarter increased by 14 per cent to $3.688 billion. “Our dedicated…

Canadians worried about rising interest rates

MNP report says millennials have never experienced a time when credit wasn’t cheap and easily accessible

Canadians worried about rising interest ratesCanadians are increasingly fearful of interest rate hikes, according to the latest MNP Consumer Debt Index, which was released on Tuesday. MNP said the fear of a rate increase has intensified over the past few months. One-third of Canadians express concern that rising rates could move them towards bankruptcy. That’s a six-point increase since June.…

Broadening the scope of the business footprint

Kent Kaufield of EY talks about why its important to embrace change and the technology that drives that change

Broadening the scope of the business footprintKent Kaufield is EY Calgary office managing partner and energy managing partner. What are the main services EY offers to companies and businesses? Kaufield: We’re a professional services firm, which means we traditionally get grouped in the same bucket as auditors and accountants. We do that work and we love doing it, but how we…

K-Bro CEO named Prairies Entrepreneur of the Year by EY

Edmonton-based K-Bro has 15 locations across Canada, operations in the UK and plans for continued international expansion

K-Bro CEO named Prairies Entrepreneur of the Year by EYThe winner of this year’s Prairies EY Entrepreneur Of The Year 2018 is Linda McCurdy, Director, President and CEO of K-Bro Linen Systems Inc. – an international leader in laundry and linen processing for hospitality and health care clients. McCurdy became CEO before the age of 30 and transformed K-Bro from a “sleepy privately owned…

Third of Canadians uncertain when buying a home

Concerns about affordability, paying too much, rising interest rates and mortgage qualification top the list: CMHC

Third of Canadians uncertain when buying a homeBuying a home can be a daunting experience for many people. A new survey, released on Thursday by Canada Mortgage and Housing Corp., backs that sentiment up. The agency’s annual Mortgage Consumer Survey said 37 per cent of homebuyers continue to feel concern or uncertainty when buying a home, adding that concerns related to affordability…

Growing through productivity and innovation

Lori Schmidt of GO Productivity talks about how a made-in-Alberta strategy helps companies reach their potential and set new goals

Growing through productivity and innovationLori Schmidt is CEO GO Productivity. Can you explain what GO Productivity is and what it does? Schmidt: GO Productivity is a not-for-profit corporation whose mission it is to assist companies scale up and grow through productivity and innovation – enabling companies to improve their completeness and compete on a global scale. GO Productivity started…

Cannabis by the numbers

The cannabis industry in Canada was estimated at $3 billion in 2017, on par with the beer industry and larger than tobacco

Cannabis by the numbersWith the legalization of cannabis taking effect today, Statistics Canada released some interesting data about the industry and the use of the substance. Here are some of the numbers from StatsCan: The latest National Cannabis Survey results for the third quarter of 2018 indicated about 4.6 million or 15 per cent of Canadians aged 15…

Alberta leads country with highest level of average debt

Calgary and Edmonton had the highest levels of debt of major Canadian cities

Alberta leads country with highest level of average debtThe average consumer debt continues to rise in Alberta with the highest level in the country, according to the latest Equifax Canada Q2 2018 National Consumer Credit Trends Report which was released on Wednesday. Calgary and Edmonton had the highest levels of debt of major Canadian cities and Alberta had the highest for all the…

Young entrepreneur crowdfunding to launch home in a bag concept

Prototype aims to provide protection and connection for those who are affected by displacement and natural disaster

A former Calgary Bow Valley College student is testing out his “LO8OP Home in a Bag” concept until the end of the month to brave the elements and raise money to move the idea to commercial production. Micah Louison, 24, is camping outside his family’s northeast Calgary home in the Bridgeland area until the end of…

Canadian tourism industry booming

Tourism in the first six months of this year directly accounted for more than $18 billion of Canada's GDP

Canadian tourism industry boomingCanada's tourism industry is booming and the federal government says it’s having its best year ever. Tourism activities in the first six months of this year directly accounted for more than $18 billion of Canada's gross domestic product, an increase of more than six per cent over the first half of 2017, said the federal…

Smoking cannabis at home a bad idea for most Canadians: report

The survey found that homeowners felt that lighting up would harm a home’s resale value, as would growing cannabis

Smoking cannabis at home a bad idea for most Canadians: reportA new survey by residential real estate company Zoocasa says most Canadians feel that smoking cannabis inside their homes is a bad idea. The survey found that 64 per cent of homeowners felt that lighting up would harm a home’s resale value. Also, 57 per cent felt that growing the legal amount of cannabis, which…

Foreign investment in Canadian securities lowest since beginning of year

Investors acquired Canadian shares and money market instruments instead, says StatsCan

Foreign investment in Canadian securities lowest since beginning of yearForeign investment in Canadian securities slowed to $2.8 billion in August, down from $15.3 billion in July, Statistics Canada reported on Tuesday. The federal agency also said that Canadian investors reduced their holdings of foreign securities by $194 million as they acquired bonds but sold equities. “As a result, Canada's international transactions in securities generated…

Alberta, B.C. to lead Canadian economic growth, again

Scotiabank report says Alberta will have employment gains of 1.8% this year, 1.2% in 2019 and 1.2% in 2020

Alberta, B.C. to lead Canadian economic growth, againAlberta and British Columbia have been the country’s economic growth leaders since 2000 and will continue to be so this year, says a new report released on Monday by Scotiabank Economics. The bank’s latest Provincial Outlook said both western provinces will see economic growth of 2.4 per cent this year, eclipsing the Canadian average of…
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