Imperial Oil is closing its refinery in Eastrern Passage and converting it into a marine terminal. The company said it could not find a buyer for its facility to continue operating as a refinery.
TORONTO -- The Toronto stock market was lower Wednesday as traders hoped the U.S. Federal Reserve will shed some light on what it intends to do about curbing some of its economic stimulus.
Statoil says it has discovered light, high-quality oil in the Flemish Pass basin 500 kilometres northeast of St. John's, raising hopes for an as-yet-untapped part of the Newfoundland offshore.
TORONTO - The Canadian dollar was slightly higher Wednesday ahead of the mid-afternoon release of the U.S. Federal Reserve's latest policy statement and economic projections.
The following is the text of Canada's wholesale trade report for April from Statistics Canada. Wholesale sales rose 0.2% in April to $49.0 billion, mainly as a result of higher sales in the computer and communications equipment and supplies industry.