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Kenney announces new law clamping down on protestors – Edmonton Journal

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On the eve of the Throne Speech and in the wake of Teck’s decision to pull out of its Frontier Mine project, Premier Jason Kenney announced legislation targeting protesters who disrupt vital infrastructure networks.

Kenney blamed Teck’s withdrawal on Sunday in part on the “appearance of anarchy” caused by nationwide protests in support of Wet’suwet’en heridetary chiefs who are opposed to the CoastalGas Link project in northern B.C.

“This decision was taken in large part because of regulatory uncertainty and endless delays created by the national government, as well as the general atmosphere of lawlessness that we have seen take hold of parts of our country and much of our economic infrastructure in the past three weeks,” said Kenney in a speech to caucus, government staff, invitees and media on Monday.

The first bill of the spring session will be the Critical Infrastructure Defense Act, creating new “stiff penalties for anyone who riots on or seeks to impair critical economic infrastructure,” Kenney said.

The government will table the legislation, otherwise known as Bill 1, on Tuesday.

Kenney said he had spoken to “major” investors who have cancelled, frozen and suspended major investments in the economy because of the rail blockades.

The Court of Queen’s Bench granted a province-wide, 30-day injunction last week after protesters blocked CN tracks east of Edmonton. Police can be called to serve and enforce that order. In Ontario, police enforced an injunction Monday, dismantling the blockade near Belleville, Ont., that began on Feb. 6 and halted freight and passenger rail service across much of the country.

Kenney targeted “urban green left zealots,” saying they were trying to appropriate protests and condemning Indigenous people to poverty. The Coastal GasLink project, which is supported by all 20 elected First Nation chiefs along the pipeline’s route, is expected to create 2,000 to 2,500 jobs during its four-year construction period.

Kenney also promised a “citizen-initiative” referendum law in the coming days that will allow citizens to put issues that are important to them on the ballot, although he added that the government would prevent frivolous abuse of the process.

Although Teck CEO Don Lindsay criticized the lack of a regulatory framework and cited investor uncertainty in his letter to the federal government Sunday, Kenney said the province can reconcile a potential referendum over national unity issues.

“When I talk about tensions on national unity, I’m not advocating that, I’m describing a reality that exists in this province and other parts of Canada. And I think it would be grossly irresponsible for political leaders to ignore that reality,” he said.

The Bill 1 announcement came on the heels of the Alberta Court of Appeal’s decision Monday afternoon, which ruled in favour of Alberta’s legal challenge and declared the federal carbon tax unconstitutional.

When asked how killing the carbon tax would make investing in Canada more attractive to companies like Teck, Kenney said the province’s Technology Innovation and Emissions Reduction (TIER) Regulation is a better solution than the federal carbon tax because it focuses on big emitters and scientific solutions.

He also reiterated that Teck did not flag environmental frameworks as a problem until its decision was made public on Sunday.

‘Let’s resolve those issues’: Mikisew Chief

Chief Archie Waquan of the Mikisew First Nation, who had announced the community’s support for the Teck project on Friday, said he was disappointed in the company’s decision on Monday.

“I feel badly about it,” he said, noting that it took 10 years of work to come to an agreement.

Hurting the economy is not the best way to protest, but clamping down on protestors might be “too strong” of an approach, he said, adding that talking with Indigenous communities is the only way to practical solutions.

“Let’s resolve those issues that are affecting First Nations — let’s get it going — and then you’ll never have any of those blockades in the future,” he said.


NDP Leader, Rachel Notley, answers question about Teck’s application withdraw from the Frontier oilsands mine during a news conference on costs being downloaded onto municipalities by the government, with NDP Municipal Affairs Critic, Joe Ceci (back) in Edmonton, February 24, 2020. Ed Kaiser/Postmedia

‘He’s scrambling’: Notley

Opposition NDP leader Rachel Notley said Monday that Teck’s decision is the direct result of Premier Jason Kenney’s “combative” political approach.

International investors are looking for a predictable regulatory framework on greenhouse gas emissions, but instead are seeing Kenney demonize anyone with any concerns about climate change, alienating investors and leaving Albertans behind, Notley said.

The blockades are the result of longstanding matters that need to be addressed across the country, and confounding the issue of protests, emissions regulation and investment is dishonest, she said.

“He’s scrambling, and it’s cheap issues management,” said Notley.

Kenney has fought against the environmental frameworks that investors want and mischaracterized international banking heads and fund managers as “urban green radicals,” she said.

“He is essentially promoting the continued investor uncertainty that created this problem in the first place,” she said.

It is already illegal to blockade railways, and police have the jurisdiction to arrest trespassers, she said when asked about how effective Kenney’s upcoming first bill will be.

“It comes down to what the deterrent element is, and how it’s constructed,” she said.

lijohnson@postmedia.com

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TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

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CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

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BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

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BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

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Canada Goose reports Q2 revenue down from year ago, trims full-year guidance

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TORONTO – Canada Goose Holdings Inc. trimmed its financial guidance as it reported its second-quarter revenue fell compared with a year ago.

The luxury clothing company says revenue for the quarter ended Sept. 29 totalled $267.8 million, down from $281.1 million in the same quarter last year.

Net income attributable to shareholders amounted to $5.4 million or six cents per diluted share, up from $3.9 million or four cents per diluted share a year earlier.

On an adjusted basis, Canada Goose says it earned five cents per diluted share in its latest quarter compared with an adjusted profit of 16 cents per diluted share a year earlier.

In its outlook, Canada Goose says it now expects total revenue for its full financial year to show a low-single-digit percentage decrease to low-single-digit percentage increase compared with earlier guidance for a low-single-digit increase.

It also says it now expects its adjusted net income per diluted share to show a mid-single-digit percentage increase compared with earlier guidance for a percentage increase in the mid-teens.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:GOOS)

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