Company releases, economic news, and business coverage.
CALGARY - TransCanada Corp. (TSX:TRP) is seeking regulatory approval to start construction of a pipeline that would help feed a proposed liquefied natural gas export terminal on B.C.'s north coast even though a final decision hasn't been made whether to build the terminal.
The Calgary-based company has conditional federal and provincial approvals for the North Montney Mainline, but they are subject to a positive financial investment decision for the proposed Pacific Northwest LNG project on Lelu Island near Prince Rupert, B.C.
FLINT, Mich. - In a story March 19 about the replacement of water lines in Flint, Michigan, The Associated Press reported erroneously that the overall lead level in Flint's water still exceeds the federal safety limit and the authorities are requiring residents to use state-provided faucet filters. The water no longer exceeds the federal safety limit and the state only recommends that filters be used. The AP also reported that cases of Legionnaire's disease have been linked to the improperly treated water. Some experts suspect a link, but no federal or state agencies have made that determination.
A corrected version of the story is below:
CALGARY - The Conference Board of Canada says natural gas producers are in for more losses as they face flat North American demand and increased U.S. competition.
In its five-year outlook, the Conference Board says Canadian production will decline as the U.S. becomes more self-sufficient thanks to an abundance of shale gas projects.
CALGARY - Alberta's provincial debt is growing but remains "manageable," despite criticism from credit rating agencies following last week's budget, Alberta Finance Minister Joe Ceci says.
Agencies including Moody’s Investor Service and DBRS Ltd. say they are reviewing the province's ratings, which are used to determine its cost of borrowing money, because of its growing debt levels.
TORONTO - Hudson's Bay Co. says the emails and phone numbers of some Saks Fifth Avenue customers were exposed online accidentally over the weekend.
The information, which has since been taken down, was connected to a product wait-list for Saks.com.
LONDON - Britain will begin divorce proceedings from the European Union on March 29, starting the clock on two years of intense political and economic negotiations that will fundamentally change both the nation and its European neighbours.
Britain's ambassador to the EU, Tim Barrow, informed European Council President Donald Tusk of the exact start date on Monday morning.
KUWAIT CITY - Beauty and the Beast was pulled from cinemas in Kuwait on Monday after censors raised concerns over the content of the new film, which includes what has been called the first "gay moment" for a Disney character.
The film, which has grossed more than $180 million overseas, had been showing in the predominantly Muslim country of Kuwait since Thursday. But those who'd purchased tickets to see the movie Monday received text messages from Kuwait's National Cinema Company informing them that screenings were cancelled due to "unforeseen difficulties." The company also promised ticket buyers a full refund.
OTTAWA - A new infrastructure bank could free up billions in new money for social services Canadians regularly use, internal government documents say — provided the experimental new institution meets its lofty financing goals.
The presentation, prepared for the economic growth council that's advising Prime Minister Justin Trudeau and his cabinet, shows transit and water projects going through the bank could mean more federal dollars for social infrastructure like child care, recreational facilities and seniors' centres.
A Canadian man accused in a massive hack of Yahoo emails posed an "extremely high flight risk" in part due to his alleged ties to Russian intelligence agents, law enforcement officials allege in documents filed with an Ontario court.
In an application for Karim Baratov's arrest, U.S. authorities describe the 22-year-old Hamilton resident as an alleged "hacker-for-hire" paid by members of the Russian Federal Security Service, known as the FSB.
MONTREAL - After the worst cargo season in years, shippers traversing the Great Lakes are expecting a rise in volumes this season as the St. Lawrence Seaway opened Monday, but not enough to give them cause to celebrate.
The shipping industry is facing a global economic slowdown that will take a couple of years before sustained growth resumes, says the incoming CEO of Canada Steamship Lines in Montreal.