A subsidiary of a Chinese state-owned mining firm says Canada is wrongly considering a national security review in its agreement to purchase a gold and copper mine in Peru. In May, Vancouver-based Pan American Silver Corp. announced an agreement worth almost $300 million US to sell its stake in Peru’s La Arena gold mine to … Read more
Canada’s economy shed 2,800 jobs in July while the unemployment rate was unchanged at 6.4 per cent, Statistics Canada said on Friday. Employment fell in wholesale and retail trade, which shed 44,000 jobs, and in finance, insurance, real estate, rental and leasing, which shed 15,000 jobs. Public administration, transportation and warehousing, and utilities saw jobs gains. … Read more
The potential of tariffs on Chinese electric vehicle imports is being welcomed by the Canadian head of General Motors as major producer BYD looks to enter the market. “We’re encouraged by the government’s examination of these issues,” said Kristian Aquilina, president of GM Canada. “Because on the basis of strong competition, a fair playing field, … Read more
Wall Street fell the most in nearly two years, continuing a global rout in financial markets as fears worsen that the U.S. economy is slowing down. The S&P 500 fell three per cent on Monday. The Dow Jones industrial average dropped more than 1,000 points and the Nasdaq composite slid 3.4 per cent. The declines were just the latest … Read more
Enbridge Inc. has raised its earnings forecast for the year in light of the successful completion of two previously announced purchases of U.S. gas utilities. The Calgary-based energy infrastructure company said Friday it now expects adjusted earnings for 2024 of between $17.7 billion and $18.3 billion, up from a previous forecast of $16.6 billion to … Read more
A scaled-back version of the website for the Pathways Alliance, a consortium of Canada’s largest oilsands companies, is back online, weeks after content was pulled down in response to Bill C-59. Bill C-59, which includes amendments to the Competition Act, became law in June. The new rules require companies be able to prove their environmental claims. … Read more
Canada’s Competition Bureau has launched a market study into the country’s domestic air passenger service, noting that fares remain pricier than they were before the COVID-19 pandemic. In the study’s terms of reference published earlier this week, the bureau says there are signs “domestic airfares in Canada may be relatively high,” and that “average airfares … Read more
Canada’s defence department and military are approaching the implementation and use of artificial intelligence in a “fragmented,” unco-ordinated manner, says a newly prepared federal strategy. The long-awaited overview of how to deal with rapidly evolving machine-learning technology is being met with mixed reviews by some high-tech and civil society experts who had been expecting more clarity on … Read more
Delayed air passengers, disgruntled phone customers and even hungry people craving a slice of pizza increasingly find their pleas to private companies being answered by artificial intelligence. Soon Canadians who need to reach out to the federal government could also find themselves talking to an employee who’s been helped by non-human assistants. Ottawa is working … Read more
A prestigious Canadian literary prize will maintain its partnership with Scotiabank after nearly 20 authors pulled their books from consideration to protest the bank’s investment in an Israeli defence contractor. More than two dozen authors have signed a letter posted Wednesday by Canlit Responds, a group that initially formed to protest charges laid against several of the … Read more
