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The oilpatch is bracing for additional layoffs, dividend reductions and capex cuts as companies reveal the entire impact of a 14-month decline in oil prices on their own fourth quarter earnings. Cenovus Energy Inc. said Thursday the “hurricane force” impacting the has compelled the oilsands producer to cut its dividend and plan more layoffs this year, while oil services provider ...

The Un may be useless with regards to coping with despots and disease, and not able to control its very own peacekeeping rapists, but the one thing where it can’t fail is posturing about climate. That is because the metrics of success aren’t anything as mundane as temperatures or weather: They are the volume of verbiage and the level of ...

TORONTO – Energy exposure hit the bottom line of Manulife Financial Corp. within the fourth quarter, resulting in the shares to slide by as much as 12 percent in Thursday trading despite a nine per cent hike within the dividend. Quarterly net earnings missed analyst estimates and included a $361 million charge on “investment-related experience” – with the majority of ...

CALGARY – A brand new skyscraper rising over Calgary will be the city’s tallest when construction is complete the coming year, but it’s unlikely to be full. The $1.3-billion building’s largest tenant, oilsands producer Cenovus Energy Inc., confirmed this week it wouldn’t need the quantity of space it had previously agreed to occupy in 2013, when oil prices were comfortably ...

OTTAWA – The Canadian government could find it hard to balance the budget by 2019/20 as promised if the economy is constantly on the struggle, Prime Minister Justin Trudeau said within an interview published on Thursday. Trudeau, talking with the French-language La Presse newspaper, also confirmed the budget deficit in the 2016/17 fiscal year could be larger than the $10 ...

VANCOUVER — Taseko Mines Ltd. (TSX: TKO) is suing the federal government in B.C. Top court and seeking unspecified compensation for any 2014 decision that blocked development of a proposed $1.5 billion gold and copper deposit. The Vancouver-based company claims the government and it is agents – including the environment minister at that time – failed to meet their legal ...

Justice Edward Belobaba from the Ontario Superior Court on Friday approved a $17-million settlement in a securities class action lawsuit brought against gold miner Agnico-Eagle Mines Ltd. and three of their executives. Before signing off on the settlement, he expressed concern that judges might not be putting proposed settlements through enough scrutiny.  “The judicial approval of class action settlements, especially ...

CALGARY C TransCanada Corp. said Thursday more layoffs are expected because the energy sector grapples with plunging oil prices, after confirming it let go 10 per cent of workforce in the fourth quarter. The Calgary-based pipeline company let go staff in November, but did not provide numbers until Thursday’s earnings call to discuss fourth-quarter results. Chief financial officer Don Marchand ...