Alberta plays huge role in keeping federal deficit down: report

Even in the depths of recession, the province sent Ottawa $92 billion more than it received between 2014 and 2017: Fraser Institute

Alberta plays huge role in keeping federal deficit down: reportThe federal government’s deficit in 2017 would have reached a staggering $39 billion – instead of the $19 billion recorded – if not for the disproportionate net revenue contributions from Alberta, according to a new study released Thursday by the Fraser Institute. The study, How Albertans Continue to keep Federal Finances Afloat, said that between…

Air Canada buying Transat A.T. Inc. for $520 million

Will create a Montreal-based global travel services company in leisure

Air Canada buying Transat A.T. Inc. for $520 millionHot on the heels of the announcement this week that Calgary-based WestJet is being sold in a $5-billion deal to Onex Corp., Air Canada announced on Thursday that it intends to buy Transat A.T. Inc. for about $520 million or $13 per share. In a news release, Air Canada said it will create a Montreal-based…

Shaw Communications selling stake in Corus Entertainment

Deal worth about $548 million to close on May 31

Shaw Communications selling stake in Corus EntertainmentShaw Communications Inc. is selling its stake in Corus Entertainment Inc. for about $548 million. In a news release, Calgary-based Shaw said it has entered into an agreement with Corus and a syndicate of underwriters led by TD Securities Inc. The group has agreed to purchase from Shaw 80,630,383 Class B non-voting participating shares of…

WestJet being sold to Onex Corporation in $5 billion deal

Onex and its affiliated funds will acquire all outstanding shares of WestJet for $31 per share

WestJet being sold to Onex Corporation in $5 billion dealCalgary-based WestJet Airlines is being sold to Onex Corporation in a deal that is worth about $5 billion including assumed debt. The sale is subject to shareholder approval. In a news release on Monday, it was announced that in the all-cash transaction Onex and its affiliated funds will acquire all outstanding shares of WestJet for…

Carbon tax gap significant between Alberta and Quebec: report

Montreal Economic Institute says policy and layers of taxes are crippling Canada's oil and gas industry

Carbon tax gap significant between Alberta and Quebec: reportThe Montreal Economic Institute, an independent public policy think-tank, says Alberta’s $30 carbon tax is around 50 per cent higher than the rate in place in Quebec, as a result of the latter province’s cap-and-trade system. MEI has just published a research paper, The Cumulative Impact of Harmful Policies – The Case of Oil and…

CN acquires Alberta-based H&R Transport

Strategy is to offer more end-to-end rail supply chain solutions to a wider range of customers

CN acquires Alberta-based H&R TransportCanadian National Railway, through a subsidiary company, has reached an agreement to acquire the intermodal division of the Alberta-based H&R Transport Limited, it announced on Thursday. “H&R is well known in Alberta and across the industry for investing in its people, systems, and assets, as well as its customer centric services and best in class…

Women hold 19% of seats on Canadian corporate boards

StatsCan says women are more likely to be involved in smaller corporations

Women hold 19% of seats on Canadian corporate boardsStatistics Canada has released data on the gender composition of corporate boards, providing the first comprehensive estimates across all types of corporations and showing that women accounted for 19.4 per cent of directors in 2016. “Overall, the results of this analysis demonstrate that 28.0 per cent of corporations had one woman on their board of…

One in five young Canadian boomers have no retirement savings

Franklin Templeton survey also says 22% of self-employed Canadians never intend to retire

One in five young Canadian boomers have no retirement savingsA survey released on Wednesday says 21 per cent of Canadian young baby boomers, aged 55 to 64, have not saved anything for retirement. Franklin Templeton's 2019 Retirement Income Strategies and Expectations (RISE) survey also found 46 per cent of Canadian young boomers would consider postponing retirement and 15 per cent of Canadians expect to…

WestJet’s net earnings up 33% in first quarter

Board of directors declares cash dividend of 14 cents per common voting share

WestJet’s net earnings up 33% in first quarterCalgary-based WestJet reported on Tuesday that its first quarter net earnings of $45.6 million, or 40 cents per fully diluted share, rose by 33.4 per cent. That compared with net earnings of $34.2 million, or 30 cents per fully diluted share, in the first quarter of 2018. The airline’s revenue also was up 5.5 per…

Walmart investing $200 million in Canadian store renovations

The company said about 3,250 construction jobs will be created to support these upgrades.

Walmart investing $200 million in Canadian store renovationsWalmart Canada is investing over $200 million in its store network, with a focus on refurbishing and refreshing 31 stores across the country over the next year, including five stores in Alberta. The company said about 3,250 construction jobs will be created to support these upgrades. The five renovated Alberta stores are in Calgary (Westbrook),…
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