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National Business

Suncor Energy increases spending, oil production guidance for 2021

Suncor Energy increases spending, oil production guidance for 2021

CALGARY — Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.
US construction spending jumps 1.3% in October

US construction spending jumps 1.3% in October

SILVER SPRING, Md. — U.S. construction spending jumped 1.3% in October, the fifth straight monthly increase, again on the strength of single-family home building. The October gain follows a strong upward revision to 0.
BMO Financial Group reports Q4 profit climbed to nearly $1.6B, beats expectations

BMO Financial Group reports Q4 profit climbed to nearly $1.6B, beats expectations

TORONTO — BMO Financial Group says it is winding down its non-Canadian investment and corporate banking business in the energy sector as the bank topped expectations with a $1.6-billion profit in its latest quarter.

Supremex closing its Edmonton facility, cutting 39 jobs in bid to reduce costs

MONTREAL — Supremex Inc. says it is closing its Edmonton facility and cutting 39 jobs in a move to reduce costs. The envelope maker says the cuts represent about five per cent of its total workforce.
“Everyone wants a tree and they want it now”: Christmas tree sales on pace for record

“Everyone wants a tree and they want it now”: Christmas tree sales on pace for record

MONTREAL — Canadians planning to buy a live Christmas tree this season should start shopping now and expect to pay more, the Canadian Christmas Tree Growers Association says. Farmers anticipate 2020 will be a record sales year.
Asian stocks gain on stronger Chinese factory data

Asian stocks gain on stronger Chinese factory data

BEIJING — Asian stocks rose Tuesday after Chinese manufacturing improved, with investors looking ahead to U.S. Federal Reserve Chairman Jerome Powell’s appearance before legislators. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced.
Biden names liberal econ team as pandemic threatens workers

Biden names liberal econ team as pandemic threatens workers

WILMINGTON, Del.
MLSE cuts salaries for full-time staff, extends management and executive reductions

MLSE cuts salaries for full-time staff, extends management and executive reductions

TORONTO, S.D. — Maple Leaf Sports and Entertainment says it is cutting the salaries of up to one quarter of its full-time staff, and extending salary reductions for senior management and executives to deal with the financial impact of COVID-19.
Aurora Cannabis lays off 30 staff, 'indefinitely' pauses operations at Alta. facility

Aurora Cannabis lays off 30 staff, 'indefinitely' pauses operations at Alta. facility

EDMONTON — Aurora Cannabis Inc. says it is indefinitely pausing operations at one of its Alberta facilities and laying off a few dozen staff.
Montreal-based Element AI to be bought by U.S. company ServiceNow

Montreal-based Element AI to be bought by U.S. company ServiceNow

Element AI's ownership is headed across the border and into U.S. hands after years of being touted as one of Canada's most promising technology companies.