An electric vehicle is charged at a Tesla charging station in Ottawa on July 13.Sean Kilpatrick/The Canadian Press Canada’s ambitions of becoming an electric-vehicle powerhouse are being newly fueled by interest from Tesla Inc. TSLA-Q in locating a major manufacturing facility in Ontario. While rumors of such an investment by the pioneering EV maker were … Read more
Power Corporation of Canada holds, through various entities, a 42.5-per-cent stake in Wealthsimple. It first bought into the online investment platform in 2015.Mark Blinch/The Canadian Press Power Corporation of Canada’s POW-T chief executive officer, Jeffrey Orr, is defending the company’s investments in financial technology startups, despite a downturn in the sector that has resulted in … Read more
Changing the guard at the government-owned Alberta Investment Management Co. (AIMCo) cost the pension manager nearly $3.6-million in termination payments to five former top executives, including its departed chief executive officer. The fund manager lost $2.1-billion on trading strategies linked to market volatility in the spring of 2020, when the early stages of the COVID-19 … Read more
For BMO, the 13 new hires are the latest additions to the already more than 50 investment professionals that the bank’s asset-management division has hired in recent months.Chris Wattie/Reuters Bank of Montreal’s BMO-T asset-management business has scooped up more than a dozen portfolio managers and equity analysts from CI Financial Corp., CIX-T as the bank … Read more
Several years ago, the leaders of the European Union sat back contentedly and watched the spot market for the natural gas they had put so much effort into working like a well-oiled machine. Gas was cheap and there was plenty of it to go around. Then, all of a sudden, things changed dramatically. The spot … Read more
After multiple energy crises across several states last year due to America’s aging infrastructure and failing grid system, Americans are once again being asked to curb their energy usage as they face another summer of sweltering temperatures and potential blackouts. Grand promises to improve infrastructure have amounted to little, with no obvious improvements across the … Read more
Warren Buffett’s Berkshire Hathaway has bought another 4.3 million shares in Occidental Petroleum, bringing its total stake in the company to 19.2 percent, Reuters has reported, citing an SEC filing by Buffett’s investment vehicle. The stock purchase is the latest in a series that has seen Berkshire Hathaway increase its interest in Oxy from less … Read more
Berkshire Hathaway, the investment firm of Warren Buffett, has increased its stake in Occidental Petroleum, buying 12 million additional shares that have pushed its holding in the company to 18.7 percent. The latest share acquisition cost close to $700 million, Reuters reported, citing a regulatory filing made by Berkshire Hathaway. The investment company has thus … Read more
The oil and gas industry is “under siege” OPEC Secretary General Mohammad Barkindo said on Tuesday. After years of underinvestment on a global scale, the oil and gas industry is now “facing huge challenges along multiple fronts,” the Secretary General told delegates at an industry conference in Lagos. “These threaten our investment potential now and … Read more
Canada will not financially support two proposed LNG export projects, although it will help with the negotiations with the prospective buyers in Germany, Natural Resources Minister Jonathan Wilkinson told the Globe and Mail in an interview. Demand for LNG has soared this year as EU members seek to reduce their energy dependence on Russia. After … Read more
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