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Canadian Oil Industry’s Losses to Stretch Into Third Year, think-tank Predicts

OTTAWA—Canada’s oil extraction industry will have to ride through $21 billion in losses before it returns to profitability some time in 2017, according to the latest estimate from the Conference Board of Canada. The Ottawa-based think-tank says the industry is headed for a $10-billion loss this year after a record-setting $11-billion loss last year, the first time on record it …

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Broadview Hotel Prepares to Strip Off Its Veil

It’s the full-frontal makeover of a landmark that’s been teasing east-end residents for months. This week the scaffolding and construction mesh finally get ripped off the restored red Romanesque Revival facade of the Broadview Hotel, formerly Jilly’s strip club. As the lights go up on the northwest corner of Queen St. East and Broadview Ave. on Wednesday, the veil comes …

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Trudeau Replaces Pipeline Uncertainty With Carbon Price Uncertainty

By announcing a hefty price on carbon, Prime Minister Justin Trudeau seems to be moving closer to finally approving an oil export pipeline. But he is also creating a new problem: His targeted minimum price on carbon emissions is so high, how it will be implemented so unclear, he’s replacing pipeline uncertainty with carbon price uncertainty — hardly the recipe …

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Coworking Spaces Free Small Businesses From Office Troubleshooting

A broken printer is the kind of mundane problem that can sap the energy of the most motivated entrepreneur. But tech troubleshooting isn’t in the job description of financial consultant Shannon Simmons. Even though she runs her own small business, she doesn’t worry about a lot of administrative duties that might otherwise fall on her shoulders. Her company, The New …

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Bearish Credit Suisse Forecasts Bank of Canada Rate Cut, Weak Loonie

Forecasts for a Bank of Canada interest-rate cut this year are building. Credit Suisse Group AG joined Citigroup Inc. and HSBC Holdings Plc in forecasting easier monetary policy, possibly as early as next month, amid sluggish Canadian growth and slower-than-expected inflation. The Swiss bank has penciled in a quarter-point cut to the central bank’s 0.5 per cent overnight target rate …

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Man Who Wrote Popular Oscar Mayer Wiener Jingle Dies

CHICAGO—The man who got generations of hotdog lovers humming along to the Oscar Mayer Wiener song has died. Richard Trentlage died Sept. 21 in Libertyville, Illinois, at 87, according to an obituary posted online by a northern Illinois funeral home. With the words, “Oh, I wish I were an Oscar Mayer wiener,” Trentlage helped solidify the company’s hotdogs as a …

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TSX, New York Markets Close Modestly Lower; Loonie Sees Tiny Gain

North American stock markets closed modestly in the red as positive economic data south of the border increased the odds that the U.S. Federal Reserve will hike interest rates before the end of the year. In Toronto, the S&P/TSX composite index was down 36.82 points at 14,689.04. The Dow Jones industrial average fell 54.30 points to 18,253.85, while the S&P …

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Unproven Competitiveness of Upstream Assets Would Hamper Rumoured Petronas Sale: Analyst

CALGARY • The Malaysian company rumoured to be seeking buyers for its Pacific NorthWest LNG project could struggle to offload its upstream natural gas assets due to the still-unproven competitiveness its operations, one analyst says. Rumours have been circulating that Petroliam Nasional Berhad, or Petronas, is looking for a way out of its massive investment in Canada’s nascent LNG space …

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BlackBerry Still a Big Hit in Indonesia

BlackBerry Ltd. may have decided to stop making its iconic handsets, but that doesn’t mean the gadgets will disappear, especially in places where they’re still popular. Case in point: an Indonesian wireless company is already hatching plans to introduce its own version of the keyboard-equipped smartphone for those who can’t live without the device. PT Tiphone Mobile Indonesia Tbk, an …

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Cost-cutting Helps Costco’s Bottom Line

Costco Wholesale Corp. reported fourth-quarter earnings that beat analysts’ estimates, even as falling grocery prices cut into its sales growth. Profit amounted to $1.77 (U.S.) a share in the period, which ended Aug. 28, the Issaquah, Washington-based company said in a statement. Analysts had estimated $1.73 a share, according to data compiled by Bloomberg. Costco has been working to control …

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