By Commodity News Service Canada
WINNIPEG, May 8 (CNS) – Profits are down at WestJet. The
Canadian air-carrier reported a first-quarter profit of C$37.2
million, down from the C$46.7 million it earned last year.
Rising fuel costs were cited as one of the reasons for the
decline.
Energy giant Shell has announced it’s selling all of its
shares in Canadian Natural Resources for C$$4.3 billion. The
company says it is making the move to pay down debt and
concentrate more fully on cleaner natural gas. Shell still
retains a 10 per cent stake in the Athabasca Oil Sands Project.
A merger between Ontario-based Hydro One and Avista Corp.
has been approved by the regulator. The deal is worth C$6.7
billion and will see Hydro One acquiring the U.S. energy
company. The deal is expected to be finalized in the second half
of 2018. It still must receive the go-ahead from the Committee
on Foreign Investment, which is based in the U.S.
