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CALGARY – Crescent Point Energy Corp., the largest oil producer in Saskatchewan, cut its dividend and pared back its spending plans Wednesday because it took a $589 million charge caused by the collapse in oil prices. The company took the impairment charge on its assets because of the plunge in oil prices and bleak forecasts for future prices. The charge pushed ...

The Bank of Canada today announced that it is maintaining its target for that overnight rate at 1/2 percent. The financial institution Rates are correspondingly 3/4 percent and the deposit rate is 1/4 per cent. The global economy is progressing largely because the Bank anticipated in the January Monetary Policy Report (MPR). Financial market volatility, reflecting heightened concerns about economic ...

If they didn’t realize it before, investors around the globe have quickly found that collapsing oil prices negatively impact sectors beyond energy, and far of this pain is being felt within the infrastructure, equipment and services spaces. These segments from the market benefited immensely from surging development in unconventional resources plays such as the Alberta Montney and Texas Eagle Ford, ...

Mark Bristow, the chief executive of African miner Randgold Resources Ltd., has been an outspoken critic of his gold industry peers for years. He blames them, with lots of justification, for wasting the best gold bull market ever by not generating any real value per share. He said the value of the industry’s impairments is worth a lot more than ...

Shares of Chipotle Mexican Grill Inc fell more than 6 per cent in morning trading on Wednesday, each day after the popular burrito chain operator said hello would temporarily shut a Massachusetts restaurant after four employees fell sick. Chipotle is attempting to repair its reputation following a number of food-safety incidents, including two E.Coli outbreaks that sickened about 50 people ...

The inability to diversify our energy markets is jeopardizing Canada’s prosperity. Quebec’s application to have an injunction on the Energy East pipeline, First Ministers’ divided thoughts about a national carbon tax and Leonardo DiCaprio’s Academy Award confusion of a Chinook with global warming would be the latest sundry developments impinging on this critical problem. Pipeline construction is stymied by politics ...

MONTREAL – Transat AT posted a loss in the latest quarter, including the Christmas holiday period, despite higher revenue because the weak Canadian dollar hurt its results. The travel company said the loonie’s weakness from the U.S. dollar led to higher immediate and ongoing expenses that weren’t completely offset by lower fuel prices or more average prices for its services. ...

Legendary mining entrepreneur and gold bug Rob McEwen hasn’t made his prediction secret: he thinks gold will go to US$5,000 an ounce, and probably a lot higher. But meanwhile, he thinks investors aren’t paying full attention to the truth that gold is on a pretty outstanding run right now. The issue, to put it simply, is currency. “People have just ...