OPEC+ Accelerates Oil Output Increase to 411,000 BPD for May
OPEC+ countries unexpectedly voted on April 3 to speed up their oil production plan, boosting output by 411,000 barrels per day (bpd) in May, a big change from their initial 135,000 bpd increase proposal. The group cited “continuing healthy market fundamentals and the positive market outlook” as reasons for the accelerated production increase. However, the […]
Rogers Sells Minority Interest In Wireless Network To Blackstone Funds For $7 Billion
Rogers Communications (TSX: RCI.b) has sold off a minority stake in its wireless division in exchange for a $7.0 billion equity investment. The transaction has seen the major Canadian telecom operator sell the interest to a number of funds in a transaction led by Blackstone. Participants, which include CPP Investments, PSP Investments, British Columbia Investment […]
Alamos Gold Sells Off Quartz Mountain Gold Project For $21 Million, Equity Interest
Alamos Gold (TSX: AGI) has agreed to sell off one of its non-core assets to Q-Gold Resources (TSXV: QGR) as the company looks to monetize certain of its assets. The transaction will see Q-Gold acquire the Quartz Mountain Gold project in Oregon. Consideration for the project is said to consist of $21 million in cash […]
Brookfield To Acquire Colonial Pipeline In Deal Valued At $9 Billion Enterprise Value
Brookfield Infrastructure Partners (TSX: BIP.un) has reached an agreement to acquire Colonial Enterprises alongside institutional partners, who’s assets include the Colonial Pipeline. The transaction will see Brookfield acquire the operations for an enterprise value of $9 billion, which equates to 9x EBITDA. Colonial amounts to the largest refined products system in the US, with its […]
Sponsored · Selkirk Copper Mines
Manufacturing Layoffs Erupt Amid Mounting Tariff Pressures
Recent announcements from automakers and appliance manufacturers point to a hard-hitting consequence of the new tariffs. Chrysler-parent Stellantis revealed plans to temporarily lay off 900 workers across Michigan and Indiana, attributing the decision to the idling of plants in Mexico and Canada in response to the latest tariff-related pressures. Meanwhile, Whirlpool Corporation has also joined […]
Time’s Up for Elon: Trump Confidants Reveal Musk’s Imminent Departure
President Donald Trump’s inner circle has confirmed that Elon Musk is set to step away from his role in the federal government. Although Trump has publicly praised Musk, calling him “a patriot” and “a friend of mine,” insiders say that both men have agreed it is time for the Tesla and SpaceX billionaire to return […]
Brookfield Nears Colonial Pipeline Deal As Canada’s Carney Maintains Pipeline Restrictions
Canadian Prime Minister Mark Carney has rejected calls to repeal controversial pipeline legislation even as Brookfield Asset Management (NYSE: BN), a firm he formerly chaired, approaches a $9 billion-plus acquisition of Colonial Pipeline, the largest US fuel transportation system, sources told Reuters. “We do not plan to repeal Bill C-69,” Carney said Tuesday at a […]
Canadian Gas Prices Drop After Government Scraps Carbon Tax
Canadian gasoline prices have fallen sharply after Prime Minister Mark Carney’s government eliminated a consumer carbon tax that had been in place since 2019, with the national average dropping by more than 11 cents per litre in just three days. Data from fuel market tracker GasBuddy showed the national average for gasoline decreased from 155 […]
Sponsored · PTX Metals Inc.
Carney Rules Out Supply Management in US Trade Talks
Canadian Prime Minister Mark Carney said this week that supply management would not be part of trade negotiations with the United States, following his first call with US President Donald Trump since becoming Liberal leader. “We will never have discussions with respect to supply management, it’s off the table,” Carney told reporters in Montreal, reiterating […]
Treasury Sanctions Russian Firms for Houthi Ties, Drops Putin Associate’s Wife from Blacklist
The United States has imposed sanctions on three Russian companies for their alleged role in a network supplying goods to Yemen’s Houthi rebels, while quietly removing the wife of a Russian billionaire with close ties to President Vladimir Putin from its sanctions list. The Treasury Department’s Office of Foreign Assets Control added Edison, Kolibri Group, […]