Imperial Oil has entered into an agreement to sell its 497 Esso retail fuel stations for about C$2.8 billion. This transaction reflects the company's aim to widen its refining and oil sands businesses.
InstarAGF Asset Management announced the initial closure of its C$372 million fundraising for InstarAGF Essential Infrastructure Fund. The fund aims to purchase power, social and civil infrastructure assets and amenities with ecological downside protection.
Foresters and Proj Fox Acquisition have signed a deal on February 29, 2016, whereby, Foresters will indirectly buy both Aegon Fund Management (AFM) and Aegon Capital Management (ACM).
According to Indra Nooyi, the ongoing global economic slowdown threatens economic recovery in the US. The oil market combined with political turmoil creates an economic pressure in the nation.
The economy in Alberta will continue to shrink for the next two years amid weak crude prices globally. The province's shortfall in 2017 -2017 is anticipated to outstrip the October outlook by almost $5 billion.
The finance minister of Canada, Bill Morneau, is expected to disclose the principal terms of Liberal's first budget on Monday. Morneau's revised budget figures will highlight the problems facing Canada's economy.
The soda maker Cott Corp posted fourth-quarter adjusted net income of US$3 million, boosted by the growth in the DS Services coffee and water home delivery business.
The present government of Canada is experiencing a series of scarcity in the budget, which could reach $90 billion over the mandate period of four years. The struggling Liberal government needs to insert a minimum of C$50 billion into Canada's fading economy to assist the nation to sustain the fall in oil prices.
The Bank of Canada is expected to cut interest rates on Wednesday and not many are favoring the move. Many are worried that the rate cut will damage the already weakened Canadian dollar, among other worries.