Inflation remained cool last month at 1.3 per cent as stubbornly low energy prices continued to weigh down the annual rate, Statistics Canada said Friday.
The latest rumour surrounding the development of Apple’s electric car, which Elon Musk has called an “open secret,” is that the tech giant may be in talks with Canadian automotive supply giant Magna to build its designs.
This comes on the heels of Handelsblatt, a German newspaper, reporting that the tech company has abandoned talks with BMW and Daimler over questions of ownership.
Canadian Pacific Railway Ltd. raised its dividend and launched a share buyback program on Wednesday, rewarding investors in the wake of the failed takeover bid for Virginia-based Norfolk Southern Corp.
Calgary-based CP said it will raise the quarterly dividend to 50 cents from 35 cents, and repurchase as many as 7 million shares or 5 per cent of its shares.
Silver futures rallied to their highest level in more than 10 months on Tuesday, and gold futures traded at a one week high, with the U.S. dollar-denominated metals getting a boost from weaker greenback.
Silver for May delivery advanced 71.7 cents, or 4.4%, to $16.97 an ounce on Comex. Prices haven’t traded at a level this high since late June and haven’t settled around this level late May.
Oil prices have dropped sharply after a meeting of oil producers failed to agree an output freeze.
Brent crude fell 7% at one point before recovering some ground. In afternoon trade it fell 3.4% to $41.70 a barrel.
The meeting in Qatar was attended by most members of oil producers' group Opec, including Saudi Arabia, but not Iran.
Canada’s oil patch is expected to cut even further to the bone this year, capping the worst two-year period for spending in almost seven decades. The new forecast from the Canadian Association of Petroleum Producers came today, with an “urgent” call for new rules and a warning that “times are tough” amid the oil shock.
