Twitter Login/Register With: It’s no secret that the fashion industry is a major contributor to climate change. In fact, in April it was reported that the fashion industry’s carbon impact is bigger than the airline industry’s.In light of this, many environmentally-conscious consumers are looking for other options. They’re looking for brands that offer fashionable styles with minimal environmental effects, without breaking the bank.Enter Leafii, a start-up that makes leather-like wallets and bags out of leaves. Yes, you read that right — leaves. “Materials that are abundant, natural and highly regenerative are repurposed into something useful without hiding what they are but rather, showcasing their intricate patterns and natural variations,” their website reads. Leafii Advertisement Facebook LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement Advertisement
Advertisement Twitter Advertisement Advertisement Claude Joli-Coeur is seen in a 2014 handout image. The National Film Board of Canada has postponed the release of its next strategic plan amid an ongoing dispute between its commissioner, Joli-Coeur, and a group of directors about the institution’s spending priorities.THE CANADIAN PRESS/HO-National Film Board, Panneton-Valcourt, *MANDATORY CREDIT* Login/Register With: TORONTO — The National Film Board of Canada has postponed the release of its next strategic plan amid an ongoing dispute between its commissioner, Claude Joli-Coeur, and a group of directors about the institution’s spending priorities.The NFB tells The Canadian Press the strategic plan, which typically outlines its goals for a period of five years, was originally scheduled to be released July 15 but will now likely come out in the fall so the institution “can consult further with stakeholders.” LEAVE A REPLY Cancel replyLog in to leave a comment A group of more than 250 freelance directors known as ONF/NFB Creation say they hope this means Joli-Coeur will address the concerns they’ve raised for over two years about the film board’s budget expenditures and workplace culture.“Out of that we hope will come proper representation, a proper exchange and a process of rebuilding the film board, which severely needs it,” Montreal-based filmmaker Philippe Baylaucq, an ONF/NFB Creation spokesman, said in a phone interview.The Canadian Press requested an interview with Joli-Coeur this week but an NFB representative said he “won’t be doing any further interviews at this stage,” noting “his priority for the moment is to re-engage stakeholders in a constructive dialogue.”Last month, when Joli-Coeur was reappointed government film commissioner and chair of the NFB for another three years, ONF/NFB Creation expressed dismay, noting “the National film Board is in crisis.”In a statement, the ONF/NFB Creation alleged the film board’s production funding has decreased since 2002, and that spending on non-filmmaker salaries and institutional, legal and human resources services has increased.The group acknowledges the NFB has faced steep budget cuts from the federal government since the 1990s but argues there’s too much administrative bloat and not enough money being put into filmmaking.ONF/NFB Creation also wants the film board to provide more transparency regarding its expenditures and take more input from creators in its decision-making.The group is also calling for the NFB roles of film commissioner and chair of the board of trustees to be separated so there can be “proper oversight of NFB management.”Joli-Coeur denied the expenditure claims in a recent interview with The Canadian Press, noting the NFB’s number of productions is increasing and insisting he has “a lot of consideration for the creators.”He pointed to its annual report of 2017-2018, which shows that 50 per cent of the approximately $72-million budget went to production last year.Joli-Coeur also said the NFB’s next annual report shows that this year, out of a budget of $67 million, roughly 50 per cent went to production.ONF/NFB Creation claims the NFB numbers Joli-Coeur refers to are enlarged because they include in-house spending.Using documents they say were acquired through an Access to Information request as well as input from producers, the group says “external production” spending — that is, money put toward NFB creators who are freelanced — has actually gone down.ONF/NFB Creation also says the number of productions appears large because it includes many projects that are short in length and don’t require a lot of time to make.The group would like to see more money put into projects that are more in-depth and have a longer production time to allow creators to develop special techniques.“When I see what’s happening, it really hurts me, because I’m passionate about that place,” said Vancouver filmmaker David Fine, a longtime film board collaborator whose 2018 NFB animated short “Animal Behaviour,” made with Alison Snowden, got an Oscar nomination.“It’s not like us filmmakers want to undermine the NFB. We feel a deep passion about what it should be and how it should support filmmaking and artists and how it’s become somewhat top-heavy, and in a lot of ways, run by managers that have little relation to filmmaking experience.”In an interview after his reappointment was announced in late June, Joli-Coeur said he disagrees with the way the ONF/NFB Creation has culled its financial information, noting “at the end of the day we should just use the audited financial reports.”The two sides appeared to have reached an impasse until Tuesday, when Joli-Coeur and upper management held three meetings with NFB staff in Montreal to talk about the dispute, said Baylaucq.“The meeting on Tuesday was an historic meeting,” said Baylaucq, who was at the first two gatherings.“I’ve never heard NFB staff speak so openly and courageously to the people that can terminate their contracts. I was really impressed. Essentially people were saying the workload and the administer bloat has to stop and we need to be more efficient and we need to have creators by our side.”Meanwhile, an inauguration of the NFB’s new Montreal building originally scheduled for November has been pushed to February 2020. The NFB says it’s because the theatre and public space for screenings, activities and special events will not be ready in 2019. However, NFB staff and creators will move to the new building in September as planned.By Victoria Ahearn ~ The Canadian Press Facebook
By Kenneth JacksonAPTN National NewsSaskatoon police are investigating a claim that a man was taken on a starlight tour by officers resulting in him being hospitalized.A police news release said dispatchers received a call from a woman at approximately 1:40 a.m. saying a 19-year-old man had been driven outside of city limits and forced to walk home.The alleged starlight tour was said to have happened Monday evening.A starlight tour is when police pick up an individual and drop them off outside of town forcing them to walk back. It’s particularly dangerous in frigid temperatures. The temperature overnight in Saskatoon reached below -30 C.But alleged victim Drayton Bull told APTN National News he doesn’t remember much of what happened, including if he was in the back of a cruiser.Bull said he was at the casino to have a couple beers and then went to his brothers for a couple more. He was “highly intoxicated” and left to go to his dad’s house.He doesn’t remember what time he left but remembers waking up outside of his father’s at about 10:30 p.m.What happened between then is what’s in question.Bull said when he left his brother’s he remembers a police car going by “really slow” and trying to hide so they wouldn’t take him to the drunk tank.He then blacked out and came to again. He then remembers a man in black pants behind him. He blacked out again and was running on trails he jogs in the summer. The next thing he remembers is waking up outside of his dad’s home. His step-mom called Saskatoon police claiming they had driven Bull outside of town.“I am hoping (my memory) will come back in the next couple of days,” said Bull.Bull was taken to hospital and treated for a concussion. He also has a large sore on his head.Police said they take allegations of starlight tours seriously.Police said all patrol cars are equipped with GPS tracking devices but none of their cars came up as being outside city limits during the alleged time.As of Jan. 1 police vehicles also have audio and video technology. The systems are activated when the back door is opened, or when the siren is activated.The GPS was a recommendation made at the inquiry looking into the death of Neil Stonechild. Stonechild, 17, was taken on a starlight tour in November 1990 by Saskatoon police. He died as a result.Police also said Bull was not a subject of a police computer check, either nationally or locally, during the alleged time frame.Police said they will check the in-car camera once they speak to him.This allegation comes about a week after a man in Brandon, Manitoba wrote on Facebook that he was taken on a starlight tour only to recant the statement hours later.APTN National News spoke to Jay Moosetail and he said police threatened to do it and roughed him up a bit but he was just mad and made it up. Moosetail was leaving a house party and waiting for a cab when approached by police.He was adamant Brandon police called him a “dirty Indian” and said “Idle No More mother****er” before firstname.lastname@example.org@afixedaddress
APTN National NewsThe architects responsible for crafting modern day treaties are gathering this week in Gatineau.They’re coming together to not only celebrate their accomplishments of the past 40 years but also plan to chart a path forward for full treaty implementation.APTN National News reporter Nancy Pince has the story.
APTN National NewsInukshuks can be found along roads and rivers across the country.But for the Inuit they hold a special meaning.APTN’s Ossie Michelin has this story of some Labrador youth learning about that part of their history.
APTN National NewsThe largest spawning ground for pink salmon in on the Fraser River in the British Columbia interior.Now, just a few years after a dramatic crash in the fish stocks, the spill from a waste tailings pond may put the salmon in jeopardy.APTN’s Rob Smith has more.
APTN National NewsFirst Nation, Metis and Inuit women in Ontario’s north are getting a boost for job opportunities in the mining sector.It’s an industry that traditionally attracted men.But interest in a program designed to train Aboriginal women is helping to change that.APTN’s Annette Francis reports.
Matt Thordarson APTN National NewsDowntown Winnipeg is about to become more inviting and welcoming for Indigenous people.It’s gets a bad rep but some are now trying to reverse that trend.It’s an initiative that was launched by the downtown businesses and the Aboriginal peoples advisory committee.
HALF MOON BAY, Calif. – Fisherman Jake Bunch leans over the side of the fishing boat “Sadie K,” spears his catch, and reels it aboard: an abandoned crab pot, dangling one limp lasagna noodle of kelp and dozens of feet of rope, just the kind of fishing gear that has been snaring an increasing number of whales off U.S. coasts.Confirmed counts of humpbacks, blue and other endangered or threatened species of whale entangled by the ropes, buoys and anchors of fishing gear hit a record 50 on the East Coast last year, and tied the record on the West Coast at 48, according to the National Oceanic and Atmospheric Administration. The accidental entanglements can gouge whales’ flesh and mouth, weaken the animals, drown them, or kill them painfully, over months.This year, Bunch is one of small number of commercial fishermen out of Half Moon Bay, south of San Francisco, and five other ports up and down California who headed to sea again after the West Coast’s Dungeness crab season ended this summer.The California fishermen are part of a new effort using their cellphones’ GPS and new software pinpointing areas where lost or abandoned crabbing gear has been spotted. They retrieve the gear for a payment — at Half Moon Bay, it’s $65 per pot —before the fishing ropes can snag a whale.Especially stormy weather this year has meant more wayward crabbing gear than usual, Bunch said recently on a grey late-summer morning at sea.“Makes it all the more important to pick it up,” he says.Bunch spots the algae-blackened buoy of his first derelict crab pot of the day just after a humpback surfaces near the Sadie K.Leaning out the window of his boat’s cabin, Bunch uses his phone to snap a picture of the spot, capturing its location via the GPS setting. Then he hauls in the crab pot, the size and shape of a giant truck tire, and removes the owner’s tag inside that California mandates. He tosses the lone live crab inside the pot back into the water — it’s the off-season.The crab gear goes back to Bunch’s port, which charges the original owners $100 for returning the lost gear — a bargain, compared to the $250 a new pot costs.California fishermen and port officials working with the Nature Conservancy environmental group developed the program, designed to be affordable and easy enough for ports to manage on their own.West Coast fishermen annually lose thousands of pots for Dungeness crabs, which are a staple of Thanksgiving dinners and community crab feeds across California.Dungeness bring in tens of millions of dollars in revenue in a good year. But they also are the single-largest identifiable source of fishing gear entangling whales on the West Coast. Crab pots and the lines can get carried away by waves or by vessels that accidentally snag them. Sometimes fishermen abandon their pots or lose them.On the East Coast, meanwhile, lobster traps and gillnets are among the culprits in whale entanglements.On both coasts, fishermen and others regularly join missions to cut free whales found tangled in gear. Last July, a Canadian fisherman was killed while rescuing an Atlantic right whale snagged by lines.Clearly, “taking gear off the whales is not the solution to the problem. At all,” said Justin Viezbicke, who tracks West Coast entanglements for NOAA federal fisheries. The answer is “prevent these things from happening in the future.”Off the West Coast, changes in ocean temperatures in recent years mean fishermen and whales increasingly have found themselves in the same waters.The surge in whale entanglements has fueled tensions in California between commercial fishing operators eager to show they are trying to tackle the problems and some conservationists.Some environmental groups say the state should put in place more mandatory protection measures, such as blocking fishermen from especially important waters for whales.One group, the Center for Biological Diversity, filed notice this summer that it plans to sue California for allegedly not doing enough to keep the Dungeness crab fishery from killing protected whale species.“We’ve been hearing for years now from both the state of California and fishermen that they care about the problem and want to address it,” said Kristen Monsell, a staff attorney for the Center for Biological Diversity.“But nothing has changed other than more whales are getting tangled off our coast and dying painful, tragic deaths,” Monsell said.On this morning, Bunch quickly reels in nine derelict crab pots in fewer than two hours.Back at Half Moon Bay port, Lisa Damrosch, executive director of the local seafood marketing association, has taken in about 450 recovered crab pots so far this year, stacking them behind a fence to return them to their owners before the crucial holiday season for Dungeness crab.“No one wants to entangle a single whale,” Damrosch said. But “the best fishermen in the world are going to lose a pot.”
CALGARY – Plentiful cheap natural gas is no guarantee that a Canadian LNG export industry will develop, says an executive with Progress Energy Canada, a division of Malaysia’s state-owned Petronas which cancelled its $36-billion Pacific NorthWest LNG project in July.The decision was difficult to make but “headwinds were too great” for the partnership to green light the West Coast megaproject, said Dennis Lawrence, vice-president of production for Progress, during a panel discussion at the Calgary Energy Roundtable on Wednesday.Lawrence said delays meant the project missed its opportunity to enter the global LNG market when it had a good chance to thrive.“We think it may be a bit of a wake-up call to us as an industry, to governments, to regulators within Canada that time is actually of utmost importance on these projects, that delays and long regulatory timelines can ultimately have an impact on whether projects go ahead or not,” he said.Lawrence said the consortium’s research showed that its northeastern B.C. Montney gas wells would be competitive with natural gas produced in the northeastern U.S. and it is now focused on developing access to those North American markets.Divergent opinions expressed at the conference reflect the uncertain status of Canada’s LNG industry, with nearly two dozen projects proposed and only one — the relatively tiny Woodfibre LNG — approved for construction by its owners.Andy Calitz, CEO of the $40-billion LNG Canada project led by Royal Dutch Shell PLC, said he remains optimistic about the industry’s prospects despite lower global LNG prices and growing competition.He said he believes Canada’s low-cost gas and relatively closer location to Asia makes it competitive with other countries vying to sell liquefied natural gas around the world. But he conceded the higher cost to build liquefaction facilities and pipelines in British Columbia will affect an investment decision expected next year.“The market to import LNG is now growing to 260 million tonnes per year in 38 countries…. There is a market out there,” he said, noting China’s new appetite for gas to replace coal and growing demand from countries such as India, Indonesia and Thailand.Deteriorating world prices blamed by the Pacific NorthWest LNG partners were also cited by developers of the $28-billion Aurora LNG project when it was cancelled in September.“We’re actually very pessimistic,” said panellist Dave Tulk, a partner with consulting company Gas Processing Management Inc., adding neither the industry nor governments are working together to come up with a “master plan” for the industry.“The challenges that (LNG Canada) has to get over in terms of pipelines, to dig a 670-kilometre pipeline, go through two mountain ranges, to get all that in place without the full support of the federal and provincial governments and industry, we just think that’s going to be a difficult challenge,” he said.In a separate presentation, David Hill, executive vice-president of exploration and business development for Encana Corp. (TSX:ECA), said he was surprised at how quickly American competitors were able to establish an LNG exporting industry ahead of Canada.He said Encana, which produces half of its oil and gas in Canada and half in the U.S., is already seeing lower gas prices north of the border due to American shale gas competition but it is hopeful that new demand from the Canadian oilsands and petrochemical industries will support domestic gas markets and Encana investment decisions in future.Follow @HealingSlowly on Twitter.
TORONTO – The woman helming the top job at Ontario’s securities watchdog has had her term extended for three years by the Ontario Ministry of Finance.Maureen Jensen’s two-year term as chair and CEO of the Ontario Securities Commission was set to expire in February 2018, but will now end in February 2021.Charles Sousa, Ontario Minister of Finance, says Jensen has worked tirelessly to improve women’s representation on boards, enhance whistleblower protection, and advance the Ontario government’s push toward a co-operative capital markets regulator.Jensen said in October that it might be time to strengthen its measures to get more women on boards after little progress.The OSC does not have the authority to impose a specific target or quota for gender diversity.But Jensen said the regulator is looking at options such as requiring companies to set a target and disclose progress in meeting it.
HALIFAX – The independent review of Nova Scotia’s forestry practices has been extended by two months.Announced Aug. 30, the review headed by University of King’s College president Bill Lahey was originally due next Wednesday, but is now expected to be completed by the end of April.Natural Resources Minister Margaret Miller says Lahey requested the extension because more work is required to complete the report.Lahey has said he’s been given a broad mandate, including the ability to examine clear cutting.The controversial practice drew public attention in 2016 when the Liberal government said it was backing away from a previously stated goal of reducing the practice on Crown land by 50 per cent.About 90 per cent of wood harvested in Nova Scotia is clear cut, according to federal figures.The province says the review is to provide recommendations that balance long-term environmental, social and economic interests in managing the forests.The review was first promised prior to last spring’s provincial election and became a key part of the Liberals’ environmental platform.
WASHINGTON – The U.S. government’s international broadcasting agency says it will discipline employees responsible for a television report on philanthropist George Soros that violated its professional ethics and standards.The U.S. Agency for Global Media says that those who produced the report would be placed on administrative leave pending an investigation into “apparent misconduct” and may face disciplinary measures, including firing depending on the results of the probe.The report on Soros aired in May on Spanish-language Radio Television Marti network, which broadcasts to Cuba.It described him as a “Jewish multi-millionaire” influencing nations through nongovernment groups. It referenced the conservative organization Judicial Watch as believing he was undermining democracies.Recently, Soros has been accused without evidence by right-wing commentators and politicians of funding migrants heading to the U.S. from Central America.___This story has been corrected to say the TV Marti report referenced Judicial Watch, not quoted the organization.
Federal safety officials plan to question representatives from engine maker CFM International and Boeing about the fatal accident on a Southwest Airlines jet this year.The National Transportation Safety Board hearing Wednesday in Washington, D.C., is expected to last several hours.The board is still investigating the April 17 accident, in which an engine fan blade broke and debris hit the plane, killing a woman who was blown partly out a broken window. Pilots landed the crippled plane safely in Philadelphia.Investigators are focusing on the design and inspection of engine fan blades. After the accident, CFM recommended more advanced and frequent blade inspections, and regulators made those changes mandatory.They will also look into the design of the engine housing, which is supposed to prevent pieces from breaking loose.The Associated Press
Companies in this story: (TSX:CFP)The Canadian Press VANCOUVER — Canfor Corp. has signed a deal to buy a 70 per cent stake in Swedish sawmill company Vida Group for about $580 million.Under the agreement, the current owners of Vida will retain a 30 per cent interest and continue to manage the day-to-day business.The privately held company has nine sawmills in southern Sweden with an annual production capacity of 1.1 billion board feet.Vida also has nine value-added facilities that include premium packaging, modular housing, industrial products and energy.Canfor says it expects to be able to finance the acquisition with cash and liquidity on hand, but will complete an extension and expansion of its existing operating and term loan facilities.The deal is expected to close in the first quarter of next year.
NEW YORK — CBS is pledging $20 million in support of 18 organizations dedicated to eliminating sexual harassment in the workplace as the network tries to recover from the scandal that led to the ouster of its top executive, Les Moonves.CBS said Friday that the money will go toward helping the organizations expand their work and “ties into the company’s ongoing commitment to strengthening its own workplace culture.”The money is coming out of Moonves’ $120 million severance package. Whether Moonves will receive the remaining balance of that money hinges on the outcome of an investigation into his conduct.In a joint statement, the 18 organizations praised the donations as a significant step while also calling on CBS to disclose the results of the Moonves investigation.The Associated Press
TORONTO — Canada’s trailblazing move to legalize cannabis for recreational use, which sparked an entirely new industry and had wide-ranging implications for nearly every facet of society, has been voted The Canadian Press Business News Story of the Year.The term “disruption” in business has become so overused that it has become an empty cliche, but it is warranted in the case of pot legalization, said Andrew Meeson, deputy business editor at the Toronto Star.“It’s hard to think of an area in Canada that hasn’t been shaken up: not just commerce (from criminal act to booming startup to takeover target in the blink of an eye), but also policing, health care, justice, politics. Even culture (just ask Tommy Chong),” he said.“If that doesn’t make it the business story of the year, I don’t know what would.”In an annual poll of the country’s newsrooms conducted by The Canadian Press, business editors and reporters across the country chose cannabis legalization in a landslide, with 60 per cent of the votes cast.The terse negotiations between Canada, U.S. and Mexico towards a new North American Free Trade Agreement was a distant second with 30 per cent of votes.Canada’s pipeline conundrum, with the Trans Mountain pipeline expansion now in limbo after a court overturned its regulatory approval in August and a U.S. court throwing out the Keystone XL pipeline’s presidential permit in November, came in third out of eight possible candidates with 10 per cent of the vote.“Pipelines would have won, hands down if it weren’t for the creation of an entirely new industry in Canada,” said David Blair, a business columnist with CBC Radio. “Rarely, if ever, do journalists get to cover the opening of a new market, especially one that is as controversial as cannabis.”The world was watching when the country made history with the first legal sale of non-medicinal pot just after midnight on Oct. 17 in Newfoundland and Labrador, due to its time zone being 30 minutes ahead of the rest of Canada.It marked the beginning of what the New York Times dubbed Canada’s “national experiment,” and the culmination of months, if not years, of preparation by legislators and law enforcement officials at all levels and in each province, territory, and municipality.While Oct. 17 represented an extension from the initial target set for July, and licensed producers ramped up production in the lead-up, long lines of customers were met with widespread product shortages online and in the relatively few bricks-and-mortar stores that were ready on day one.Still, many Canadians were simply elated to be able to buy government-sanctioned pot after nearly 100 years of prohibition.“My new dealer is the prime minister!” said Canadian fiddler and pop star Ashley MacIsaac, who in 2001 had been arrested for possession in Saskatchewan.But cannabis mania had been bubbling for months before legalization, with retail investors rushing to invest in the latest pot company to list its stock. Cannabis company valuations in the lead up to Oct. 17 soared and some of the banks’ online direct investment platforms were bombarded with unprecedented trading volumes.At one point producer Tilray Inc.’s stock on the Nasdaq exchange in September hit a peak of US$300, giving the Nanaimo, B.C.-company a market value higher than established Canadian conglomerates such as Loblaw Companies Ltd. and Rogers Communications Inc.Pot will be cited for years to come as many Canadians’ first experiences with investing, said Pete Evans, senior business writer for CBC News.“Cannabis mania deserves some credit — and maybe blame — for ushering an entire new generation of primarily young people into making their first stock market investments ever,” he said.A flurry of merger and acquisition activity in the sector, even before legalization, fuelled investor interest as well.Aurora Cannabis Inc. was on an acquisition spree this year, buying rival CanniMed Therapeutics for $1.1 billion after a terse takeover battle and later MedReleaf for $3.2 billion.Alcohol giant Constellation Brands in August announced it was upping its investment in pot producer Canopy Growth Corp. — in the largest strategic investment in the pot space to date — to increase its ownership stake to 38 per cent. The Corona beer-producer also received warrants that, if exercised, would up its stake to more than 50 per cent.And earlier this month, Big Tobacco came calling, as the number of countries that legalized cannabis for medical use continues to grow.Marlboro maker Altria Group Inc. said it planned to invest $2.4 billion in pot producer Cronos Group Inc. for 45-per-cent ownership, with an option to increase that stake in the future.The Altria-Cronos deal gave the overall sector a slight lift, but pot stocks have largely come off their highs after legalization as reality set in and concerns mounted about lofty valuations.Canadian marijuana companies have found themselves in the crosshairs of short-sellers, as well.Aphria Inc. earlier this month saw its stock value more than cut in half over three days after two short-sellers targeted the Leamington, Ont.-based cannabis producer with a raft of allegations, including that its recent international acquisitions were “largely worthless.” Aphria has called the allegations “inaccurate and misleading” and is confident in the deal in question, but has appointed an independent committee to review their claims.Meanwhile, recreational pot supply shortages continue to linger. Several cannabis producers in part blamed supply chain issues for contributing to the shortage and have said they are aiming to increase their production, but it will likely take more time fresh product to hit the market.Quebec’s cannabis corporation stores continue to be closed from Monday to Wednesday as a result. And in Ontario, where the only legal way for residents to buy adult-use pot is through the government-run online portal, the provincial government said it will hand out a limited number of retail licenses due to the shortages.The Ontario government initially said it would not cap the number of licenses, but now says it will only be able to issue 25 licenses by April via a lottery system. This deals a blow to a slew of companies who have been putting down deposits to secure prime real estate locations in the country’s most populous province in anticipation of obtaining a license.“Seemingly overnight, activity that always existed on the margins of society has come into the centre,” said Evans.“It’s been fascinating to watch the growing pains that have ensued… It will be interesting to see in the coming months and years how and if the reality lives up to expectations for the industry.” Armina Ligaya, The Canadian Press
JERUSALEM — The Bank of Israel’s new governor says the country’s financial stability should not be taken for granted in a period of “numerous changes in financial markets.”Amir Yaron took office Monday following several weeks of volatility in Israeli and international markets. At a ceremony in the presence of Israel’s president, prime minister and other dignitaries, Yaron says his immediate challenge is “the normalization of monetary policy.” He says he views the interest rate as “the main and most effective tool” for directing such policy.The University of Pennsylvania business school professor is an Israeli national who has taught banking and finance at the Wharton School since 2009. He replaces outgoing Bank of Israel Governor Karnit Flug, who recently concluded her five-year term.The Associated Press
Companies in this story: (TSX:CP)The Canadian Press CALGARY — Canadian Pacific Railway Ltd. says Unifor members have ratified a four-year labour agreement covering about 1,200 employees responsible for maintaining rail cars and locomotives.The two sides reached a tentative agreement for Unifor Local 101R in early December. The previous contract is set to expire Dec. 31.Details of the agreement haven’t been disclosed but Unifor national president Jerry Dias said on Dec. 2 that the union had been able to push for significant gains.
CALGARY — Suncor Energy Inc. says its upstream production in the last three months of 2018 hit a quarterly record.Canada’s largest integrated oil and gas company says production averaged 831,000 barrels of oil equivalent per day, up 12 per cent from the third quarter.Oilsands operations produced approximately 433,000 barrels per day in the quarter, while total production from exploration and production was 90,000 boe/d.In its outlook, Suncor maintained its December production guidance for 2019 that forecast production growth of 10 per cent even after production cuts imposed by the Alberta government.The province announced mandatory production curtailments for the industry this year in a bid to reduce a glut of oil and help boost low prices.Suncor’s full fourth-quarter results will be issued Feb. 5.The Canadian Press