Enbridge ‘disappointed’ as environmental review for Line 5 tunnel extended – Business News
Enbridge ‘disappointed’
The Canadian Press – March 23, 2023 / 1:22 pm | Stories: 417614
Photo: The Canadian Press
This photo taken in October 2016 shows an aboveground section of Enbridge’s Line 5 at the Mackinaw City, Mich., pump station. THE CANADIAN PRESS/AP – John Flesher
The timeline of a US review of a proposed Great Lakes tunnel that’s a critical part of Enbridge Inc.’s Line 5 pipeline replacement project has been pushed back by more than a year.
The US Army Corps of Engineers said Thursday it now expects to complete its draft environmental impact statement for Enbridge’s Line…
Scandal-plagued Japan tech giant Toshiba accepts buyout offer – Business News
Photo: The Canadian Press
Scandal-embattled Japanese electronics and technology manufacturer Toshiba has accepted a 2 trillion yen ($15 billion) tender offer from Japan Industrial Partners, a buyout fund made up of major banks and companies.
If the proposal succeeds, it will be a major step in Toshiba’s years long turnaround effort, allowing it to go private and delisted from the Tokyo Stock Exchange. But overseas activist investors own a significant part of Toshiba’s shares, and it’s unclear if they will be happy with the latest bid.
Tokyo-based Toshiba Corp. announced its board accepted the bid at 4,620 yen ($36) a…
Big banks create $30B rescue package for First Republic – Business News
Photo: The Canadian Press
The hours of operation and the FDIC Insured status is on display at the front door of a First Republic Bank in the Financial District of Manhattan, Thursday, March 16, 2023. The S&P 500 was 0.8% higher in midday trading after erasing an earlier loss of nearly that much following reports that First Republic Bank could receive financial assistance or sell itself to another bank. (AP Photo/Mary Altaffer)
Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank…
Electricity bills may continue to shock you even as overall inflation eases. Here’s why.
While price hikes for gas, furniture, electronics and clothes are slowing down after a long stretch of sharp gains, one costly item isn’t expected to get cheaper anytime soon: electricity.
Economists say consumers should expect their electric bills to continue rising at a fast pace as liquefied natural gas, a key fuel for generating electricity, remains in short supply in the US and companies’ operating costs rise. Average US electricity prices could rise at a 10% clip again this year and possibly next, predicts Mark Wolfe, director of the National Energy Assistance Directors Association, even though economists have forecast overall…
Fake online reviews: US proposes bans
WASHINGTON –
US federal regulators are looking to crack down on fake reviews and other deceptive internet practices.
The Federal Trade Commission proposed a new rule Friday that would ban paying for reviews, suppressing honest reviews, selling fake social media engagement and more. Businesses would also be prohibited from running company-controlled websites that claim to be independent, and other deceptive practices like “review hijacking,” which makes reviews for one product appear like they were written for significantly different ones.
If the proposed rule is approved, following a 60-day public comment period, violators could face hefty penalties.
“Our proposed rule on…
Canadians seeking financial advice from banks left unsatisfied
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Roughly two-thirds of retail bank customers ‘financially unhealthy,’ the study finds
Published June 30, 2023 • 4 minute read
Pedestrians walk near a Royal Bank of Canada building in the financial district of Toronto. Photo by Brent Lewin/Bloomberg files
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As high inflation, rising interest rates and market volatility take a toll on their finances, Canadians are seeking advice from their financial institutions, but some banks are not delivering this effectively, according to a new study.
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Canada’s economy grew by more than expected in the first quarter, upping the odds of the rate hike next week
The Canadian economy grew at an annualized rate of 3.1 per cent in the first quarter of 2023, Statistics Canada reported Wednesday.
The latest data shows growth beating out the federal agency’s own forecast of 2.5 per cent for the quarter. A preliminary estimate suggests the economy grew by 0.2 per cent in April, after remaining flat in March.
The ongoing resilience in the economy will likely spur discussions of a potential rate hike, as the Bank of Canada is expected to make its next interest rate announcement next week.
The relatively strong GDP showing investors had increasing the odds…
Canadian forest fires are the latest costly climate disaster that public accounts fail to capture
You don’t have to tell the people of Calgary and other Canadian communities breathing orange air that forest fires have a cost.
And while repeated studies draw a direct line between an increase in costly forest fires and climate change, economists and accountants right up to Canada’s Parliamentary Budget Officer say the benefits of stopping climate change and thus reducing the many harms it creates is simply impossible to measure for public accounting purposes.
It is an interesting conundrum and the thousands of people displaced from their homes or breathing smoke from the current spate of forest fires are caught…
