Money

U.S. discounter Target Corp. is closing its money-losing stores in Canada after almost two troubled years here. The Minneapolis-based retailer said on Thursday it filed an application for protection under the Companies’ Creditors Arrangement Act with the Ontario Superior Court of Justice in Toronto. The U.S. based retail company currently has 133 Canadian locations and 17,600 employees across the country. …

Canadian Natural Resources Ltd. halted expansion plans at a major oil sands project and slashed $2.4-billion from its 2015 budget to cope with plunging crude prices.

Dutch multinational oil and gas giant Royal Dutch Shell plc says it will reduce its 3,000 workforce at its Albian Sands mining project in northern Alberta by between 5% and 10%, i.e. up to 300 jobs, making it the first major energy firm to lay off workers in Canada’s oil patch.

The loonie lost more of its lustre Friday amid a strengthening U.S. greenback and weak crude prices. The Canadian dollar was down 1.04 cents at 85.16 cents US at midday on the first trading day of 2015.

Canada Pension Plan (CPP) benefits will increase by 1.8% in 2015, Employment and Social Development Canada announced Monday.

Private equity firm GI Partners will buy Canadian health care technology company Logibec Inc. from the investment arm of the Ontario Municipal Employees’ Retirement System, GI Partners said Friday.

A big drop in gasoline prices slowed Canada’s annual pace of inflation in November, reversing a spike the previous month and providing the Bank of Canada with plenty of reason to keep interest rates firmly in neutral.

The European Parliament passed by just 12 votes controversial fuel quality rules that do not penalise imports of polluting tar sands oil from Canada.

The International Energy Agency (IEA) has said that the price of Brent crude dropped below 63 dollars a barrel, its lowest price since July 2009.

Home prices in Canada declined by 0.3% in November versus October, according to the Teranet-National Bank Composite House Price Index published on Friday. It was the first month to post a fall in one year. Prices were down in November over the previous month in eight of 11 major centres surveyed, ranging from the decline of 1.6 per cent in …

Uber receives venture funding that puts its valuation higher than $40 billion, which would make the startup the 11th most valuable tech company in Silicon Valley based on market capitalizations. Co-founder and CEO Travis Kalanick disclosed in a blog post that Uber had scored $1.2 billion from unnamed investors that would go toward making “substantial investments, particularly in the Asia …