You are here

Business

Company executive blames decade-old oil leak on ‘act of God’

BATON ROUGE, La. A decade-old oil leak that could last for another century was caused by an “act of God” during a hurricane in the Gulf of Mexico, the president of the company responsible said Wednesday.

Taylor Energy President William Pecue told a gathering of industry experts and environmental advocates in Baton Rouge that the company cares “very deeply” about the environment.

CP Rail accuses rivals of colluding to fight merger with Norfolk Southern

MONTREAL Canadian Pacific Railway has asked the U.S. Department of Justice to get involved in its battle to acquire Norfolk Southern.

The Calgary-based railway wants U.S. antitrust authorities to conduct a review of what it alleges is an illegal co-ordinated effort by major U.S. railroads to block industry consolidation, including its proposed takeover of the Virginia rail company.

Nearly a third of millennials “not at all knowledgeable” about RRSP savings: poll

OTTAWA Nearly a third of young Canadians admit they are “not at all knowledgeable” about retirement savings plans, according to a survey done for TD Bank.

The report also suggested that a large proportion of those aged 18 to 33 are uninformed about what registered retirement savings plans can and cannot be used for.

Shaw selling media division

CALGARY—Shaw Communications is selling its media division to Corus Entertainment for $2.65 billion—a deal that will help fund the telecom company’s purchase of Wind Mobile.

Shaw Media includes the Global Television network and 19 specialty channels, including HGTV Canada, Food Network Canada, and Showcase—formerly part of the Canwest business group before it was split up.

CPPIB enters joint venture to buy U.S. student housing properties for US$1.4B

TORONTO The Canada Pension Plan Investment Board has entered into a joint venture to purchase student housing properties in the United States for a total of US$1.4 billion.

The deal would see CPPIB and global investment firm GIC each own a 47.5 per cent stake in University House Communities Group.

A vegan revolution? Taste testing the next generation of fake meats, vegan mayonnaise

CONCORD, N.H. How far have vegan alternatives come to tasting like the real thing? Not far enough, according to a panel that tasted some options for The Associated Press.

“Noxious” and “kind of not natural” were among the reactions to some of the meatless alternatives being pushed by a new generation of vegan food makers that want to revolutionize the way Americans eat.