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  • Royal Bank of Canada denies report it had access to users’ Facebook messages

    December 19, 2018 5:55 PM 135

    The bank says it needed to be able to send the messages to confirm the identity of the Facebook user receiving the money and to send them a receipt of the transaction. The bank denied having access to private messages, or needing access to these messages. The service, which used the bank’s mobile app, was decommissioned in 2015 due to low usage

  • Hostile Husky takeover bid for MEG Energy now expected to succeed as proposed

    December 18, 2018 11:35 PM 129

    Analyst Jon Morrison says in a research report that Investment Canada approval of the proposed deal could at one time have prompted the emergence of a rival bidder — and a higher bid — for MEG, but the weakening macro oil economy of the past couple of months makes it unlikely now. He says he doesn’t expect any of the four most likely competing bidders

  • Mid-sized Whitecap Resources unveils cautious $450M capital budget

    December 18, 2018 7:23 PM 127

    CALGARY—Oil and gas producer Whitecap Resources Inc. says it will choke back spending in the first half of 2019 in view of recent extreme volatility in world and western Canadian oil prices. The mid-sized producer says it will remain “cautious and defensive” with its plan to spend about $450 million next year, about the same as this year, to grow output

  • Miniso’s Canadian business faces bankruptcy application, fraud accusations

    December 17, 2018 10:13 PM 120

    Miniso’s Canadian operations are facing a court fight that could force newly-opened operations of the Chinese discount retailer into bankruptcy. According to Supreme Court of British Columbia Court filings, Miniso Guangzhou LLC has filed an application seeking to begin bankruptcy proceedings for the brand’s Canadian business. The company is accusing

  • Tea Party Republican Raul Labrador eyed for Interior secretary

    December 17, 2018 9:15 PM 119

    A Tea Party congressman who campaigned for Trump in the final weeks of the 2016 election is being considered to replace outgoing Interior Secretary Ryan Zinke, according to two people familiar with the situation. Idaho Republican Representative Raul Labrador, who will be leaving the House after an unsuccessful gubernatorial run earlier this year, has been talking

  • Arms maker warns of cost with Trudeau looking to end Saudi deal

    December 17, 2018 8:30 PM 130

    The company’s Canadian unit, in a written statement Monday, warned that doing so could leave the government on the hook for penalties. “Were Canada to unilaterally terminate the contract, Canada would incur billions of dollars of liability to General Dynamics Land Systems — Canada,” according to the statement. “We hope that we will be allowed to continue

  • Impasse over corruption charges costs SNC $5 billion CEO says

    December 17, 2018 7:05 PM 126

    Canada’s failure to reach a negotiated settlement with SNC-Lavalin Group Inc. over past corruption charges has probably cost the company more than $5 billion in lost revenue and continues to damage its reputation internationally, chief executive officer Neil Bruce said. The Public Prosecution Service of Canada, which prosecutes federal crimes including

  • CIBC shrinks event after Whistler tries to bill oil firm for climate change

    December 17, 2018 4:58 PM 123

    After Whistler sent a letter to Calgary-based oilsands giant Canadian Natural Resources Ltd., several energy firms reportedly said they would back out of the Canadian Imperial Bank of Commerce event. CIBC has since decided to cancel the oil and gas part of its conference, although it says the rest will continue. According to an online agenda, 43 of the 114 companies

  • Glencore’s Congolese unit agrees to settlement in Canadian probe

    December 17, 2018 4:21 PM 110

    The settlement agreement will be considered at a public hearing on Tuesday, according to separate statements from Katanga and the OSC on Monday. Mistakidis and two other Glencore executives stepped down as directors of Katanga last year after an internal review had found “material weaknesses” in its financial reporting controls. Katanga, which is 86 per cent owned

  • Trudeau says canada wants out of Saudi vehicle export deal

    December 17, 2018 3:08 AM 121

    Amid growing international outrage over the murder of Saudi journalist Jamal Khashoggi, the government has been reviewing the planned sale of the armoured vehicles made by London, Ontario-based General Dynamics Land Systems, a unit of U.S.-based General Dynamics Corp. Trudeau’s administration has said it wouldn’t issue new export permits during its review