Finance & Capital Management

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.

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.