business
General Motors says it will spend $691 million on St. Catharines, Ont., engine plant
General Motors says it will spend $691 million on its St. Catharines Propulsion Plant to support production of its latest V-8 engines for full-sized trucks and SUVs. Source link
Toronto resale tickets for World Cup no longer on FIFA site following new price cap rule
FIFA’s marketplace for resale World Cup tickets no longer has seats listed for Toronto matches after a new price cap came into effect last week. The Ontario legislation bans people and platforms from reselling seats to events in the province for more than face value. Source link
U.A.E. leaving OPEC amid Middle East energy supply crunch
The loss of the U.A.E., a longstanding OPEC member, could weaken the group which has usually sought to show a united front — despite internal disagreements over a range of issues from geopolitics to production quotas. Source link
Canada is getting a sovereign wealth fund. What are they and how might this one work?
Sovereign wealth funds are usually started with extra money that governments then use to invest. But the Canada Strong Fund will differ from wealth funds in some other countries, and there are plenty of details that still need to be sorted out. Source link
Shell invests $22 billion in Canada's oilpatch and more deals could be coming
After selling off a large chunk of its Canadian assets nearly a decade ago, U.K.-based energy giant Shell is now expanding its operations in Alberta and British Columbia by acquiring Calgary-based ARC Resources for $22 billion. Source link
Rogers offering buyouts to about 10,000 employees as it aims to cut spending
Telecommunications, media and sports giant Rogers Communications Inc. confirmed to CBC News on Monday that it is offering voluntary buyouts to about 10,000 eligible employees. Source link
Shell to buy ARC Resources in deal valued at $22B including debt
Oil giant Shell is acquiring Canadian energy company ARC Resources in a stock-and-cash deal valued at $22 billion, including assumed debt. Source link
Oil producers to begin unveiling profits and spending plans
Canadian oil producers will provide a first glimpse this week at how the spike in energy prices is boosting their bottom line and what they intend to do with the bumper profits. Source link
Alberta Energy Regulator orders MAGA Energy to suspend operations over ‘failure to meet its commitments’
The Alberta Energy Regulator has ordered oil and gas firm MAGA Energy Ltd. to suspend its operations over unresolved environmental concerns and non-compliance issues, including unpaid taxes. Source link
Ticketmaster delists Ontario resale tickets after omnibus budget bill passed
Ticketmaster Canada is delisting resale tickets that customers have posted for Ontario events as it prepares to comply with incoming provincial legislation. Source link