A credible climate policy will help ease the opposition to pipelines and force energy companies to invest in innovative ways to reduce costly greenhouse gas emissions
Specialty chemicals company Lanxess and Saudi Aramco, the state-owned oil company of the Kingdom of Saudi Arabia, today signed an agreement to establish a synthetic rubber joint venture. Lanxess and Aramco Overseas Company, a subsidiary of Saudi Aramco, will each hold a 50 per cent stake in the €2.75 billion venture, with Saudi Aramco paying approximately €1.2 billion in cash for its 50 per cent share after deducting debt and other financial liabilities.
Ontario’s provincial government filed documents with regulators for an initial public offering of Hydro One Inc. in what’s expected to be Canada’s largest IPO in 16 years. Greg Bonnell reports.
Wall Street fell sharply on Friday after the Federal Reserve’s decision to keep interest rates near zero fueled concerns about global growth, muddying the outlook for stocks. The TSX was also firmly in negative territory. Apart from the state of the world economy, the Fed cited financial market volatility and sluggish inflation at home in its decision on Thursday, while leaving the door open for a modest policy tightening later this year.