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Global oil markets could “drown in oversupply,” sending prices even lower as demand growth slows and Iran revives exports using the end of sanctions, according to the International Energy Agency. The IEA trimmed 2016 estimates for global oil demand as China’s economic expansion weakens forecasts for supplies away from Organization of Petroleum Exporting Countries. While non-OPEC supply is set to ...

Potash Corp. of Saskatchewan Inc.’s decision to seal its New Brunswick operations reflects the fact that potash demand hasn’t met the fertilizer industry’s hopes for the greater a part of ten years. The move effectively nullifies a $2 billion investment which was first approved in 2007, and can lead to as much as 430 job cuts.  The New Brunswick operations ...

DETROIT – Forget Tesla’s electric vehicles and Google’s self-driving cars – a little-known company called Local Motors Inc. really wants to function as the disruptor that turns the auto industry on its head. As Detroit readies for auto show, Las Vegas’ CES might have already stole the spotlight CES really stuck it towards the Detroit auto show when GM leader ...

Brookfield Asset Management Inc., Canada’s largest alternative asset manager, made an unsolicited offer to acquire U.S. shopping-mall owner Rouse Properties Inc. for around US$657 million. Brookfield, which already owns about a third of Rouse, said hello would pay US$17 a share for the remainder within an all-cash transaction, according to a statement Tuesday. The offer is 26 percent a lot ...

Canadian miners working abroad just aren’t giving up. Why a global in turmoil is still parking its cash in Canada – lots of cash Our economy is struggling yet Canada’s government bonds were the very best performers this season among major developed economies. What gives? Despite a horrendous bear market in commodities, ongoing political risks and serious struggles to boost ...

BURNABY, B.C. C The nation’s Energy Board got an earful Tuesday around the first day of hearings into Kinder Morgan Canada Ltd.’s intend to expand its Trans Mountain pipeline network towards the West Coast. Amid protests and marches outside, an NEB panel was told its process is “out-dated,” it does not have the authority to see whether First Nations have ...

BURNABY, B.C. C The nation’s Energy Board should suspend its overview of the Trans Mountain pipeline until Pm Justin Trudeau reforms the nation’s regulator, a lawyer for the City of Burnaby said Wednesday. “You don’t have the legal right to speak in the interest from the citizens of Burnaby,” the city’s lawyer Gregory McDade told the NEB panel. Burnaby is ...

The Canadian dollar rallied, snapping a record losing streak, as the nation’s central bank kept rates of interest unchanged in the face of sinking oil prices. The loonie rose from the cheapest level since 2003 as the Bank of Canada held its benchmark at 0.5 per cent and said stronger U.S. demand, a weaker currency and last year’s rate cuts ...