Suncor Energy Inc.’s share price jumped Wednesday as the company reported its fourth quarter oil output was its second-highest quarter ever. The Calgary-based company announced upstream production in the fourth quarter of 2023 of 808,000 barrels per day. With the strong fourth-quarter output, Suncor said it has met its corporate forecast provided in November 2022 … Read more
Activist investment firm ValueAct Capital Management agreed to back Walt Disney’s board nominees at its upcoming shareholder meeting as the entertainment giant looks to fight off a proxy battle from Nelson Peltz. Disney signed an agreement to share confidential company information with ValueAct, plus consult with the San Francisco-based firm “on strategic matters, including through … Read more
The Sunday Magazine22:54For 100 years, this Mickey Mouse operation has thrived. Is Disney now losing its magic? You might describe Marlene Morris as a Disney lifer. As a child, she grew up watching Disney movies on weekends and listening to her father read Disney’s Bedtime storybooks at night. She first visited Disney World in Orlando, Fla., … Read more
Warehouse stores in Canada aren’t just selling large quantities of toilet paper these days — gold bars and coins and other precious metals are moving out of the realm of banking and jewellers and into their aisles. With gold hitting record-high prices in recent weeks, the metal’s popularity has been reflected at retailers, too. According to Costco’s chief financial officer, … Read more
Santa Claus has really come to town — or at least Wall Street. US stocks are set to close out the year at record highs as investors make optimistic bets that the Federal Reserve will cut interest rates — but experts say the rally’s longevity into 2024 will depend on whether Fed Chair Jerome Powell … Read more
The New York Times is suing OpenAI and Microsoft, accusing them of using millions of the newspaper’s articles without permission to help train artificial intelligence (AI) technologies. The Times said it is the first major U.S. media organization to sue OpenAI and Microsoft, which created ChatGPT and other AI platforms, over copyright issues. “Defendants seek … Read more
Finance Minister Chrystia Freeland has approved RBC’s $13.5-billion takeover of HSBC Canada, despite calls from opposition politicians and other groups to block it over concerns of reduced competition. Freeland’s approval was the last hurdle for the deal after the Competition Bureau approved it in September. The minister’s approval comes with conditions on RBC, including that … Read more
The House of Commons special committee studying Canada-China relations is urging the federal government to introduce new measures to prevent Canadian pension funds from investing in Chinese companies implicated in human rights abuses, corruption or threats to national security. The committee’s report, tabled in the House of Commons this week, calls on Ottawa to, in partnership with … Read more
Las Vegas Review-journal | Tribune News Service | Getty Images Federal prosecutors have disrupted a so-called pig-butchering scheme that cost victims more than $80 million, the U.S. Department of Justice announced Thursday. Four men have been indicted and two arrests have been made in one of the most sweeping enforcement actions yet on a type … Read more
To the untrained eye, the collection of pipes and structures rising out of the prairie 200 kilometres east of Calgary looks like any other natural gas processing plant in southern Alberta. But the Steveville plant isn’t focused on extracting hydrocarbons. Instead, the prize it’s seeking deep underground is helium. The element is most commonly associated with … Read more
