UPDATE 1-Rio Tinto, Eramet and LG Energy seek to develop lithium extraction tech for Chile

Reuters
US stands to lose Canadian natural gas when LNG Canada terminal starts up
The start-up of LNG Canada, the country's first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where demand for the fuel is record high, companies said. Shell-led LNG Canada has begun testing its C$40-billion British Columbia terminal ahead of commercial operations starting in mid-2025. The terminal will process up to 2 billion cubic feet per day (bcfd), representing 11% of current Canadian gas output.
CBC
Frustrated shoppers boycott Loblaw stores for month of May
Canadians frustrated with rising groceries prices have pledged to boycott Loblaw-owned stores for the month of May. On the same day it was set to begin, Canada's largest grocer reported a nearly 10 per cent increase in profits.
The Canadian Press
Loblaw boycott organizer says she met with CEO to talk about grocery prices
One of the organizers of a month-long boycott of Loblaw-owned stores says she met with the grocer's president and CEO Per Bank on Thursday afternoon. Emily Johnson, who started the Reddit page that led to the boycott, said she shared shoppers' concerns and questions with Bank, a European retail executive who took on the top role about months ago. "Obviously, the boycott is still on," said Johnson. But she said she's "confident in the fact that we got an audience, we have their attention, and the
Global News
Weight-loss drug Wegovy available in Canada starting May 6
The makers of Ozempic say their weight-loss drug Wegovy will be available to Canadians as of Monday, May 6. Joe Scarpelli has this story and more in Health Matters for May 2, 2024.
Bloomberg
World’s Most Important Oil Price Transformed by Adding US Crude
(Bloomberg) -- After years of skepticism, criticism and trader furore, the world’s most important oil price is working better than ever thanks to an infusion of crude from west Texas.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies on Upbeat Forecast, Record-Setting BuybackTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesTrump Auditions VP Picks Before Wealthy Donors in Palm
Reuters Videos
EVs are getting smarter and cheaper in China
STORY: Light-up emojis. Music for pedestrians outside. In China, electric carmakers are offering up luxury tech – without the luxury price tag – in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as $20,000 – less than half the cost of the average new car in the U.S. Analysts say that poses a big challenge for foreign heavyweights like Tesla and Volkswagen. This is the Nammi – on display here at the Beijing auto show. It’s made by state-owned automaker Dongfeng and sells for under $10,000. That’s around the same as BYD’s Seagull EV – China’s fourth best-selling electric vehicle. The market is also crowded with electric and plug-in vehicles that splash luxury technology. Xpeng is planning to offer an EV with high-level self-driving features – for under $21,000. Analysts say the price of specialized components like sensors needed for self-driving and screens for onboard entertainment has tumbled. That's making competition in the world’s largest auto market all the more fierce… And chipping away at the halo that once hung over foreign brands. That’s according to an outlook from McKinsey analysts released in March. Take Zeekr, for instance. It's the carmaker with those emojis. Here’s its Shanghai head of design, Javier-Garcia Gallardo: “When we see the differences between our product launch in China versus our product launch in Europe and, you know, the technical details are as important as the design and the brand. And this integration of technology is essential for the Chinese customer.” Still, German automakers say they’re not backing down. Here’s Mercedes-Benz CEO Ola Kallenius: “We have a dedicated digital tech team here all the way down to providing things like in the new E-Class, you can sing karaoke. Maybe you don't have that feature in Germany. Maybe you should. But here, customers love it.” Mercedes, as well as Volkswagen, both told Reuters they’re working to deliver those so-called “wow effects” for Chinese buyers.
Reuters
Canadian Natural Resources considering major expansion of Horizon oil sands mine
(Reuters) -Canada's largest oil and gas producer Canadian Natural Resources is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday. President Scott Stauth said the company is considering a 195,000 barrel-per-day (bpd) expansion at its Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Previously the company said it could add 75,000 bpd of bitumen, but Stauth said Canadian Natural had been able to enhance engineering and scale up the processes.
The Canadian Press
Pipeline operator TC Energy sees natural gas deliveries rise as power demand booms
CALGARY — Canadian pipeline operator TC Energy Corp. achieved record deliveries on its natural gas pipeline systems in the first quarter, thanks to booming North American electricity demand. The Calgary-based company said Friday its comparable earnings from its Canada, U.S. and Mexico natural gas segments amounted to $2.37 billion in the first three months of 2024, up from $2.18 billion in the same period of 2023. The company said deliveries on its NGTL system, which transports natural gas from
The Canadian Press
Canadian Natural Resources sees path to hike Horizon oilsands output by 76 per cent
CALGARY — Canadian Natural Resources Ltd. said it believes the output of its Horizon oilsands mine could be increased by 195,000 barrels per day of synthetic crude oil, a 76 per cent hike from the mine's current capacity of approximately 255,000 barrels per day. The company, which is Canada's largest oil and gas producer by market capitalization, said the potential increase is a "long-term" opportunity that would depend on a number of conditions including government support for carbon capture an
Reuters
Ahead of Xi visit, Chinese share of French EV market slumps
PARIS (Reuters) -French government efforts to slow an influx of Chinese-made electric vehicles are bearing fruit, industry data show, highlighting one of the most sensitive trade issues when China's president visits next week. A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone of contention when President Emmanuel Macron hosts his Chinese counterpart for a state visit on Monday. France did not wait for a European Union decision on implementing tariffs, instead redesigning its cash bonus scheme in December to exclude the purchase of models made in China, which had rapidly gained market share.
Bloomberg
Huawei Lab Barred by US FCC as Part of Crackdown on China
The US Federal Communications Commission is barring a Huawei Technologies Co. laboratory from approving telecommunications gear for use in the US. The regulator is also proposing similar moves against other providers including Chinese companies. Peter Elstrom reports on Bloomberg Television.
The Canadian Press
Latest national emissions report shows signs of progress toward Canada's 2030 goal
OTTAWA — Canada's latest greenhouse-gas emissions report shows the country making progress toward meeting its next target in 2030, but there is still a very long way to go. The 2022 report published today shows that across the board, Canada added 708 million tonnes of greenhouse gases that year. That is 53 million tonnes lower than in 2005, or about one-sixth of what has to be cut to hit the 2030 goal. Oilsands production and road transportation are among the biggest contributors and have shown
Reuters
Canadian miner Hudbay sees BHP's bid for Anglo boosting copper assets
The CEO of Canadian miner Hudbay Minerals said BHP Group's $39 billion offer for Anglo American has increased the valuation of copper assets and could underscore companies' willingness to pay a premium to buy existing copper mines. Hudbay expects to launch a formal sale process for a minority stake in its Arizona Copper World project in the United States later this year after already holding talks with companies. BHP offered to buy Anglo last week, though Anglo rejected the proposal that would create the world's biggest copper miner, saying it undervalues the company.
Associated Press
Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett
Everyone knows Warren Buffett 's successor won't be able to match the legendary investor, but Berkshire Hathaway 's board remains confident Greg Abel is the right guy to one day lead the conglomerate into the future. Longtime Berkshire board member Ron Olson told investors gathered Thursday at a conference two days ahead of the company's annual shareholders meeting that Abel understands all the fundamental principles that guided Buffett, like letting Berkshire's companies largely run themselves.
Reuters
UPDATE 1-Ahead of Xi visit, Chinese share of French EV market slumps
French government efforts to slow an influx of Chinese-made electric vehicles are bearing fruit, industry data show, highlighting one of the most sensitive trade issues when China's president visits next week. A surge in imports of Chinese electric cars into Europe has triggered EU tariff threats, which are expected to be a bone of contention when President Emmanuel Macron hosts his Chinese counterpart for a state visit on Monday. France did not wait for a European Union decision on implementing tariffs, instead redesigning its cash bonus scheme in December to exclude the purchase of models made in China, which had rapidly gained market share.
Bloomberg
Fading War Risks Push Oil to Biggest Weekly Drop Since February
(Bloomberg) -- Oil posted its biggest weekly decline since February on signs of easing geopolitical risks in the Middle East, while traders continued to weigh the outlook for interest-rate cuts. Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies Most in 18 Months on Upbeat Forecast, BuybackEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventTrump Auditions VP Picks Before Wealthy Donors in Palm BeachTurkey Confirms All Trade Halt With Is
Yahoo Finance
Big Tech's AI spending spree comes with a catch
Big Tech aims to harvest new markets with these new spending sprees. But you'll have to trust the companies the investment is worth it.
Reuters
UPDATE 2-Pipeline operator TC Energy's results beat on higher energy demand
TC Energy beat first-quarter profit estimates on Friday as strong energy demand boosted the pipeline operator's transport volumes of oil and gas. Crude demand in the U.S., the largest importer of Canada's oil and gas, rose in the first quarter according to the U.S. Energy Information Administration, benefiting Canadian energy firms. Total earnings from TC Energy's pipeline segments came in at C$2.27 billion ($1.66 billion), compared with C$2.17 billion last year, largely on an income jump of 80% in its liquids pipeline.
Reuters
CNH Industrial cuts 2024 profit target as farm equipment demand slumps
CNH Industrial cut its annual profit forecast and warned of steeper declines in farming equipment sales on Thursday, as a global agriculture downturn squeezes demand for its tractors and combines. Dwindling farm incomes as crop prices moderate and higher borrowing costs are forcing a rethink on big-ticket purchases, setting up for a murky demand backdrop for heavy equipment makers. CNH projected an 11% to 15% drop in agriculture segment sales for the year, compared with its previous expectation of 8% to 12% decline.
Bloomberg
Macquarie Profit Misses Estimates as Commodities Unit Weighs
(Bloomberg) -- Macquarie Group Ltd.’s earnings missed estimates as a plunge in profit from its commodities and global markets business dragged on the Australian firm’s performance.Most Read from BloombergSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineApple Rallies on Upbeat Forecast, Record-Setting BuybackTurkey Confirms All Trade Halt With Israel Over War in GazaHuawei Secretly Backs US Research, Awarding Millions in PrizesTrump Auditions VP Picks Before Wealthy Donors in Palm Be

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UPDATE 1-Rio Tinto, Eramet and LG Energy seek to develop lithium extraction tech for Chile

Latest Stories

US stands to lose Canadian natural gas when LNG Canada terminal starts up

Frustrated shoppers boycott Loblaw stores for month of May

Loblaw boycott organizer says she met with CEO to talk about grocery prices

Weight-loss drug Wegovy available in Canada starting May 6

World’s Most Important Oil Price Transformed by Adding US Crude

EVs are getting smarter and cheaper in China

Canadian Natural Resources considering major expansion of Horizon oil sands mine

Pipeline operator TC Energy sees natural gas deliveries rise as power demand booms

Canadian Natural Resources sees path to hike Horizon oilsands output by 76 per cent

Ahead of Xi visit, Chinese share of French EV market slumps

Huawei Lab Barred by US FCC as Part of Crackdown on China

Latest national emissions report shows signs of progress toward Canada's 2030 goal

Canadian miner Hudbay sees BHP's bid for Anglo boosting copper assets

Berkshire Hathaway board feels sure Greg Abel is the man to eventually replace Warren Buffett

UPDATE 1-Ahead of Xi visit, Chinese share of French EV market slumps

Fading War Risks Push Oil to Biggest Weekly Drop Since February

Big Tech's AI spending spree comes with a catch

UPDATE 2-Pipeline operator TC Energy's results beat on higher energy demand

CNH Industrial cuts 2024 profit target as farm equipment demand slumps

Macquarie Profit Misses Estimates as Commodities Unit Weighs