Tim Hortons, Telus reinstate support for Hockey Canada following scandal
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Two sponsors who previously pulled support for Hockey Canada when it was embroiled in scandal last year say they are backing the organization once more.
Fast food chain Tim Hortons and telecommunications firm Telus Corp. say they have reinstated their support for Hockey Canada which they withdrew when the organization was accused of mishandling sexual assault complaints.
Tims spokesperson Michael Oliveira says the chain made it clear it would only reinstate funding for Canada’s men’s teams when they regained the confidence of Canadians.
He says Tims reinstated its support because it appears Hockey Canada has made substantial progress toward that goal under new leadership.
Oil tankers are crossing the Strait of Hormuz and Iran’s actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration’s position that the war should be over in weeks, not months.
Canada’s annual inflation rate slowed in February to 1.8 per cent, but many economists believe the new Statistics Canada data may be the dip before a spike driven by oil prices and the war in Iran.
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Canadian and U.S. stock markets gained ground on Wednesday as oil prices fell and tech stocks rose on both sides of the border.
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Member countries of the International Energy Agency could release more oil into the market later “as and if needed” after they have already agreed the largest-ever reserve release, Executive Director Fatih Birol said on Monday.
Oil prices are down, and stocks are up Monday, though such moves have been quick to reverse since the war in Iran began.
Statistics Canada says the annual rate of inflation dipped below two per cent in February as the end of last year’s federal “tax holiday” helped take some steam out of the yearly price comparisons.
Middle Eastern sovereign wealth funds and state-backed companies are unlikely to scale back renewable energy investments in Africa despite disruptions from the Iran war, analysts say, given the strong long-term economic and strategic reasons driving such funding.
Crude oil stayed above US$100 a barrel on Monday and Gulf countries reported more attacks by Iran as the war entered its third week, while share prices were mixed.