The Daily Chase: Canada sheds 30,600 jobs in July; Energy giants swim in cash
BNN Bloomberg
Canada’s labour market just delivered another surprise: a net 30,600 jobs were shed last month, according to Statistics Canada.
SUNCOR DOING DEALS, RAKING IN CASH
There’s no special dividend like what Canadian Natural dished out yesterday, but there’s no shortage of cash flowing into Suncor Energy’s coffers. Its adjusted funds from operations more than doubled to $5.3 billion in the second quarter, and its operating profit trounced expectations as commodity prices and output climbed. And while most of the focus in the earnings release commentary was about improving safety protocols, Suncor also squeezed in some M&A news — announcing it reached a deal to sell its Norway assets for $410 million, and saying it’s shopping around its entire U.K. portfolio. We’ve got BMO’s Randy Ollenberger lined up for reaction at 11:30 a.m. EDT.
AT LEAST CANOPY HAS BIOSTEEL
