The Saudis might have to go public, OPEC’s out of balance, the U.S. is suddenly a global exporter, and shale drillers are trying to find lifelines from investors as banks abandon them. Oil rally fuelled by OPEC noise, just ‘bulls clutching at straws’ Citibank analysts had a succinct warning concerning the rally: Oil bulls are “clutching at straws,” i was ...

The parallels between your situations are very striking. What’s decidedly different may be the manner in which the scenarios – two about-to-be-maturing issues of rate-reset preferred shares – unfolded. Prior to the announcements the 2 preferreds – like most other pref issues – were trading in a deep discount for their issue price and also to their maturity value. Following ...

VANCOUVER — HSBC Bank Canada says it had a loss in its fourth quarter and it is 12-month profit was about one-third less than in 2014, mainly due to increased provisions for purchasers within the energy sector. The bank’s profit was $414 million for the Twelve months ended Dec. 31, including a $38 million reduction in your fourth quarter. That’s ...

Barrick Gold Corp, the world’s largest gold miner, estimated spending of approximately US$2 billion if it decides to proceed with projects in Nevada and Peru. Barrick, releasing updated pre-feasibility and feasibility studies around the projects, also said on Monday it would redeem up to US$750 million of notes to help cut debt by at least US$2 billion this year. The ...

MISSISSAUGA, Ont. – Second Cup ended last year using its first positive same-store sales quarter since 2012. Same-store sales for locations open a minimum of a year were up 0.2 per cent in the fourth quarter – the very first time Second Cup has already established positive same-store sales in 14 quarters returning to early 2013. The chain of coffee ...

HOUSTON – Canadian oilsands growth is likely to come to a “standstill” after the projects being built seriously stream as heightened environmental concerns, insufficient pipeline access and policy changes slow investment, warned the International Energy Agency. As oilsands punished, tanker lots of cheap Saudi oil sail into Canadian ports daily Claudia Cattaneo: ‘Where is the political outrage over oil imports ...

Teck Resources Ltd.’s stock price is on an incredible run. It’s up more than 80 per cent because the company reported earnings on Feb. 11, and most 150 per cent since bottoming out in mid-January. Copper costs are up only modestly in that period. National Bank analyst Shane Nagle thinks enough is sufficient. He downgraded the stock to underperform from ...

HOUSTON – Now, Saudi Oil Minister Ali Al-Naimi will for the first time face the sufferers of his decision to keep oil pumps flowing despite a global glut: U.S. shale oil producers can not survive the worst price crash in years. While soaring U.S. shale output due to the hydraulic fracturing revolution contributed to oversupply, many blame the 70-percent price ...