Finance & Capital Management

Quebec and federal officials announced an investment in a biofuel production facility that will use non-recyclable residual materials, diverting those items from landfills while reducing greenhouse gases in the province.The Varennes Carbon Recyling project using technology developed by Enerkem is valued at $875 million, including $687 million to construct the plant in Varennes, Que., southeast of Montreal.Premier Francois Legault joined several cabinet colleagues and federal Liberal government ministers as part of the announcement in Montreal.Enerkem said the plant will produce 125,000 litres of biofuel and renewable chemicals made from nearly 200,000 tonnes of non-recyclable residual materials and wood waste.“Basically, we're taking non-recyclable feedstock or things that you wouldn't put in your recycling bin that (end up) in the landfill,” said Dominque Boies, CEO of Enerkem.“The idea is to use this material, which would create methane emissions .

Nestlé, the world's biggest food company, is laying out a global roadmap to achieve net zero greenhouse gas (GHG) emissions and plans to spend US$3.6 billion to achieve its goals.

Parkland Corporation has announced it has entered into a series of transactions to acquire the assets of two U.S.-based fuel distributors.The company reported last week that it is working to acquire Story Distributing Company and its affiliates.

Walmart Canada announced new cash bonuses for its workers on Friday, saying the “appreciation bonus payment” recognizes their ongoing dedication during the pandemic.The move follows similar announcements made by other companies in recent weeks and could put pressure on more retailers to offer so-called hero pay to essential workers as the second wave of COVID-19 worsens.Walmart said more than 85,000 employees will receive the additional payment on Dec.

The Saskatchewan government is reviving an emergency grant program for small businesses that have been hit by restrictions aimed at stemming the spread of COVID-19.

Cost-cutting and layoffs continue in Canada’s oil and gas sector.

Sobeys says it is bringing back pay premiums for staff in locations where COVID-19 lockdowns are in effect.

Alimentation Couche-Tard Inc.'s profits increased from last year in the three months ending Oct.