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Saskatchewan projecting $292M deficit; province blames wildfires, low oil prices

REGINA — Saskatchewan is forecasting a $292-million deficit this year mainly due to low oil prices and the cost of fighting wildfires that forced thousands of people from their homes this summer.

Finance Minister Kevin Doherty announced the red ink Monday in the province’s first-quarter report for the 2015-16 fiscal year.

Energy demands meet competing supply options as premiers, governors gather

ST. JOHN’S, N.L. — New England’s growing need for more affordable, cleaner electricity met competing Canadian solutions as eastern governors and premiers gathered Monday.

Quebec Premier Philippe Couillard quoted one of his predecessors, Robert Bourassa, as he summed up the dilemma for the six governors attending the annual conference of regional leaders in St. John’s, N.L.

CPP contributions offset small loss on investments in busy deal-making quarter

TORONTO — The CPP Fund had a small investment loss after costs in the first quarter of the 2016 financial year but the retirement fund’s assets increased by $4 billion overall because of contributions from the Canada Pension Plan.

The Canada Pension Plan Investment Board says the CPP Fund had $268.6 billion of net assets as of June 30, up from $264.6 billion a year earlier.

Rail versus Pipe: new Fraser Institute report says pipelines safer than rail

CALGARY — TransCanada (TSX:TRP) is pointing to a new study on how pipeline safety stacks up against rail to show why two of its controversial projects should be built.

According to the report by the Fraser Institute released Thursday, the rate of incidents or accidents per million barrels of transported crude is 4.5 times higher for rail than for pipelines.

Kraft Heinz slashing 2,500 jobs in Canada and U.S. as part of cost-cutting plan

NEW YORK — Kraft Heinz says it is cutting about 2,500 jobs in the U.S. and Canada as part of its plan to slash costs after the food companies combined.

Spokesman Michael Mullen says the affected workers were to be notified in person. About 700 of the cuts were coming in Northfield, Illinois, where Kraft had been headquartered.