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 ...
Read More »Chipotle Mexican Grill Inc’s shares drop after it closes Massachusetts restaurant where four employees fell ill
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 ...
Read More »Joe Oliver: How Justin Trudeau can avoid a historic energy blunder
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 ...
Read More »Transat AT posts Q1 loss despite higher revenue as weak loonie pushes up costs
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. ...
Read More »PDAC 2016: McEwen urges investors not to be ‘fooled’ by U.S. dollar gold price
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 ...
Read More »Bubble fears spread beyond housing bears as Vancouver condo building smashes records
OTTAWA – Demand for condominiums is soaring in big cities like Toronto and Vancouver, prompting some analysts to worry about a potential bubble. Simultaneously, crude-producing provinces like Alberta are in a slump. Millionaire boomers decamp Vancouver pocketing housing windfalls as city becomes a ‘commodity’ The West Coast’s retirees are cashing out as an influx of foreign demand pushes up housing ...
Read More »New guidelines for corporate boards aim to prevent shareholder confrontations, proxy battles
A blue-chip roster of Canadian corporate directors and investors has crafted a roadmap laying out how boards should build relationships their investors before unhappiness with the way a clients are being run leads to confrontation. Against a backdrop of rising investor activism and proxy battles, the Institute of Corporate Directors is presenting six key recommendations Tuesday in a paper compiled by an ICD ...
Read More »Jack M. Mintz: Canada has created a jungle of costly carbon policies
In the name of the environment, governments across Canada are effectively blocking pipeline infrastructure, coal production, fracking, LNG plants and more, through endless process requirements or outright bans. Much of these regulatory restrictions limit manufacture of natural resources with significant regional income losses specifically for British Columbia, Alberta, Saskatchewan and 2 Atlantic provinces. But why stop at reining in upstream ...
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