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Finance & Capital Management

  • 'Immense amount of pain' predicted for Canadian oilfield services sector

    Canada's oilfield services sector is in for “an immense amount of pain'' over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC.Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn.“There is no way to sugarcoat it.

  • Canadian retail sales fell 10% in March, April expected to be worse

    Statistics Canada says retail sales in Canada posted their biggest monthly decline on record in March and warned that the drop for April will eclipse that loss.The agency says retail sales fell 10.0% to $47.1 billion in March as non-essential businesses began to shut their doors mid-month due to the pandemic.The drop was in line with economists' expectations of 10 per cent, according to financial markets data firm Refinitiv.Statistics Canada also says a preliminary estimate for April indicates a 15.6% drop for the first full month of the pandemic.The March decline came as sales plunged at motor vehicle and parts dealers, clothing and clothing accessories stores and gasoline stations, while sales at grocery stores soared.Excluding motor vehicle and parts dealers, retail sales were down 0.4% for the month.

  • A clear set of guiding principles help Alimentation Couche-Tard navigate COVID-19 crisis

    In a statement outlining its business stance in the wake of COVID-19, Alimentation Couche-Tard says it is adhering to a clear set of guiding principles as its business navigates the COVID-19 outbreak.“During these troubled times, Couche-Tard is committed to being part of the solution in the communities where we work and live.

  • Retail tenants hopeful over federal relief plan, but landlords reluctant to join

    Bill Pratt hasn't paid some $70,000 in rent for his restaurants in Atlantic Canada since April after having to shutter operations due to the COVID-19 pandemic and experiencing a “critical” sales drop.

  • Conagra provides bonuses to front-line staff

    Conagra Brands is to provide an additional US$7 million in cash bonuses to eligible employees at each of the company's 50 production and distribution facilities across the U.S., Mexico and Canada.To date, the company has committed more than US$13 million in special bonuses for front-line employees working during the pandemic."On behalf of the senior management team, I'd like to extend my deepest appreciation and thanks to our employees for their refuse-to-lose attitude in continuing to work safely and effectively to deliver our products to customers, consumers and our communities during this unprecedented time," Sean Connolly, president and chief executive officer at Conagra Brands, said in a release.

  • PepsiCo Canada outlines community support efforts

    As COVID-19 reduces access to food and other essential goods for Canadians, PepsiCo Canada and the company’s philanthropic arm, The PepsiCo Foundation, is launching a number of community-based initiatives.With COVID-19 wreaking havoc everywhere, the devastation looms large on the country's food banks, where stocks are down and demand is way up.

  • Federal government earmarking $77M to keep food processing industry safe

    Prime Minister Justin Trudeau announced May 5 more than $77 million to help keep workers in the food-processing industry safe.The news comes as a Cargill meat-packing plant in High River, Alta., south of Calgary, reopened Monday after a two-week shutdown due to a COVID-19 outbreak.

  • Canal route brings Alberta crude to Eastern Canada

    Canada is the world’s fourth-largest exporter of oil and the third-largest repository of proven reserves of which 96% come from Alberta’s oil sands.
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  • 7-Eleven partners with CP ALL to open franchise stores in Cambodia

    7‑Eleven  has signed a master franchise agreement with CP ALL to develop and operate 7‑Eleven stores in Cambodia.

  • Imperial Oil reports $188M loss as COVID-19 hits workers, slows work schedule

    Imperial Oil Ltd.
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