AGP Executive Report
Last update: 9 hours agoEnergy Investment: Blackstone and Canadian pension funds agreed to invest US$3.1 billion for a 49.9% stake in the Mitsubishi unit holding part of LNG Canada, as the project plans to double export capacity. Corporate Results: International Petroleum Corp. reported average Q3 production of about 44,000 barrels of oil equivalent a day and restarted share buybacks, repurchasing 1.1 million shares. Its Blackrod project is ramping up toward a 2027 production target. Industrial Financing: De Havilland Canada secured C$2.5 billion in government-backed financing to double DHC-515 waterbomber production. Economic Outlook: Canada’s GDP was flat in August, with early September data pointing to a contraction. The slowdown has raised doubts about another Bank of Canada rate hike in December. Investor Caution: CPP Investments’ credit chief warned of “bubble-like” exuberance in AI financing and said the fund is taking a more selective approach. Business Shift: Australia’s Humm Group plans to sell or wind down its underperforming Canadian operation, despite stronger lending volumes across the wider group. Trade Infrastructure: Ottawa designated the Port of Vancouver’s C$5.9-billion Roberts Bank Terminal 2 expansion a project of national interest, aiming to speed up a major increase in container capacity.
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