(Reuters) - TransCanada Corp's decision this week to scrap its $12 billion Energy East pipeline and delays to other export pipeline projects look set to increase producers' reliance on costly crude-by-rail to bring barrels to market.
The Pipeline Association said that the project's cancellation was evidence of how a lack of clarity and an unclear decision-making process regarding pipeline projects are challenging the energy sector’s ability to be competitive in the world market
Canada’s economy is expected to grow 3.2% this year, beating the U.S. forecast of 2.1%
In what Airbnb is calling a first in Canada, the service will automatically collect and remit a 3.5% tax on bookings
Statistics Canada reports growth data on Thursday that will confirm the nation’s economy has entered rarefied territory.
Canada's economy added 11,000 jobs last month, in line with what economists had been expecting.
Real gross domestic product (GDP) grew 0.6% in May, as 14 of 20 industrial sectors increased. This was the seventh consecutive monthly increase. Goods-producing industries rose 1.6%, led by mining, quarrying, and oil and gas extraction, more specifically non-conventional oil extraction. Service-producing industries were up 0.2%, led by finance and insurance services.
This module provides a concise summary of selected Canadian economic events, as well as international and financial market developments.
Canada's merchandise trade deficit with the world reached $1.1 billion in May, up from a $552 million deficit in April. Imports rose 2.4% to $49.8 billion, led by an increase in aircraft imports. Exports were up 1.3% to $48.7 billion on account of higher unwrought gold exports.