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January 3, 2019 2:42 PM Barrick’s new CEO says gold industry shake-up is just starting

Barrick Gold Corp.’s new chief executive officer has a message for the gold industry: This is just the start of a big shake-up. Barrick agreed to buy smaller rival Randgold Resources Ltd. in a $5.4 billion (U.S.) deal announced in September. As part of the agreement, Randgold’s CEO, Mark Bristow, became the chief executive of Barrick, the world’s biggest 147

December 5, 2018 5:36 PM Gold plows toward its strongest season

Gold futures have fallen 7.1 percent in 2018, which has proven difficult for investors in every asset class from equities to real estate and government bonds. The $9.2 billion (U.S.) VanEck Vectors Gold Miners ETF is down 16 percent this year, putting it on track for its biggest annual decline since 2015. If history is any guide, both could be poised 123

December 3, 2018 3:00 PM Why a provincial crisis in Western Canada is boosting global oil

Global oil giants like the U.S., Russia and Saudi Arabia that command the attention of traders had some unexpected company on Sunday: a province of less than 5 million people in Western Canada. Alberta added to a crude price rally Monday when Premier Rachel Notley announced producers must reduce output by 325,000 barrels a day starting next month. That’s 182

November 29, 2018 1:02 PM CIBC's U.S. foray cuts domestic reliance even as earnings miss

Chief Executive Officer Victor Dodig had big plans after closing the $5 billion takeover of PrivateBank last year, setting a goal of getting 17 per cent of earnings from U.S. businesses, including capital markets, by 2020. Canada’s fifth-largest lender by assets gets a greater share of earnings from domestic banking than any of its larger peers, which 104

November 19, 2018 4:45 PM Ensign moves up Trinidad bid deadline, target prefers Precision Drilling offer

Oilfield services analysts have been split on which way shareholders should go but most agree no other bidder is likely to emerge given recently sliding world oil prices and poor prospects for drilling in Canada. “Ensign appears to be in pole position to be successful in its hostile bid for Trinidad Drilling, and this move has notably shortened the time period 75

November 19, 2018 2:10 PM Here’s how to trade Canadian stocks hit by tax-loss selling

The Canadian S&P TSX is down more than 6% year-to-date and has created opportunities for investors to consider several stocks that have probably been hit by tax-loss selling, according to Canaccord Genuity’s Canadian Research team. The companies on the list are mainly energy and materials stocks, since the main sectors contributing to the year-to-date 93

November 13, 2018 3:59 PM Moving to Toronto suburbs rarely saves cash, housing agency says

Fleeing Toronto for a cheaper house in the suburbs isn’t worth it for many people who have to commute to jobs back downtown. The high costs of driving or taking public transit along with the extra travel time often offset any benefits from buying a home outside the country’s biggest city, Canada Mortgage and Housing Corp. said Tuesday. The burden is becoming 79

November 9, 2018 2:33 PM Keystone XL ruling comes at worst time for Canadian oil industry

Keystone XL was seen as a major step toward solving that problem. The pipeline would have added 830,000 barrels of daily shipping capacity — about 4.2 percent of U.S. oil demand — when it came into service, which was expected to happen in 2021. Any potential setback will make other projects, including Enbridge Inc.’s Line 3 expansion and the federal 91

November 2, 2018 1:04 PM Canada posts trade deficit as both exports and imports decline

Canada’s economy continued to show sluggish trade flows in September with both exports and imports recording back-to-back monthly drops. The statistics agency also revised away its previously reported surplus from August. The nation posted a $416 million trade deficit in September, down from a revised $551 million deficit in August as exports slumped 95

September 17, 2018 12:00 PM Quebec’s Hubert Lenoir breaks through with genre-bending album Darlène

Woe to thee if you think you’ve come up with a surefire winner for the 2018 Polaris Music Prize, because I’ve done time in that grand-jury room myself and, believe you me, this year could go anywhere. If you want to single out the artist who’s benefited most from his nomination, though, the answer is easy: Hubert Lenoir. A generous “guesstimate” would 92