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Oil rockets up more than 8% in biggest one-day gain since 2012

NEW YORK — Oil prices roared back from six-year lows on Friday, rocketing more than 8% as a record weekly decline in U.S. oil drilling fuelled a frenzy of short-covering. 514 more words

Investing

Major B.C. tailings spill caused by poorly design dam

VICTORIA — A government-ordered report says a tailings spill at a B.C. mine was caused by an inadequately designed dam that caused its foundation to fail. 118 more words

Energy

Oil crash prompts Chevron to cut spending on B.C. LNG project

Chevron Corp. is significantly slowing spending on the Kitimat liquefied natural gas project in Canada amid a crash in crude prices and global competition.

The San Ramon, California-based producer’s move follows Petroliam Nasional Bhd.’s December delay of a final investment decision on its $36 billion Canadian LNG project and BG Group Plc’s pause of development at its Pacific Coast proposal in the country in October. 366 more words

Energy

Canadian Oil Sands Ltd trades cancelled after dividend cut became public hours before trading halted

Regulators have cancelled trades affecting thousands of shares of Canadian Oil Sands Ltd. after information about a drastic dividend cut became public hours before the stock was halted. 409 more words

Energy

'There will be blood:' JPMorgan predicts Canadian dollar to sink to 77 cents if Bank of Canada cuts again

The Canadian dollar could fall as low as 77 cents U.S. if the Bank of Canada cuts rates again in March, says a leading U.S. bank. 176 more words

Economy

IMF says housing in Canada overvalued by as much as 20%

Canada’s housing market is overvalued by as much as 20%, says the International Monetary Fund which is forecasting a soft landing for the sector.


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Breaking

Shake Shack Inc shares more than double in stock-market debut

Shake Shack Inc. soared in its debut on the New York Stock Exchange after raising US$105 million in an initial public offering, bolstered by investor demand for more upscale fast food. 520 more words

Investing