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Trans Mountain Pipeline restarts after three-week pause due to B.C. floods – Globalnews.ca

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The Trans Mountain Pipeline has restarted “safely,” said the company, after a three-week pause due to safety risks posed by widespread flooding in B.C.

On Sunday, Trans Mountain confirmed it has completed “all necessary assessments, repairs, and construction of protective earthworks” needed to turn the taps back on.

“As part of this process Trans Mountain will monitor the line on the ground, by air and through our technology systems operated by our control centre,” it said on its website.

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B.C. gas supply: Trans Mountain Pipeline plans to restart Sunday

The pipeline was shut down as a precaution on Nov. 14, amid record-breaking rainfall that caused catastrophic flooding and mudslides across southern B.C.

It was the first of four major storms to strike the province last month.

Trans Mountain said Saturday there’s no evidence of “serious damage” to the pipeline, or the release of any product in the aftermath of the extreme weather.


Click to play video: 'B.C.’s fight for fuel: Trans Mountain hopes to restart pipeline at reduced capacity in days'



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B.C.’s fight for fuel: Trans Mountain hopes to restart pipeline at reduced capacity in days


B.C.’s fight for fuel: Trans Mountain hopes to restart pipeline at reduced capacity in days – Nov 26, 2021

The 1,150-kilometre Trans Mountain Pipeline ships roughly 300,000 barrels of oil per day to terminals in B.C. from Edmonton. It also supplies fuel to Washington.

With the pipeline shut down, the B.C. government issued an emergency order on Nov. 19 limiting consumers in storm-stricken parts of the province to 30 litres of gasoline in a single fill-up.

On Nov. 29, it extended gas-rationing to Dec. 14. The fuel conservation measures apply to residents of the Lower Mainland to Hope, Sea to Sky, Sunshine Coast, Gulf Islands and Vancouver Island.

Essential vehicles remain exempt.

© 2021 Global News, a division of Corus Entertainment Inc.

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Apple grabs record China market share as Q4 sales surge-research

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Apple Inc achieved its highest-ever market share in China in the fourth quarter, when it was the top-selling vendor there for the first time in six years, research firm Counterpoint Research reported on Wednesday.

The milestone coincided with the release of the iPhone 13, and amid otherwise stagnant demand for handsets as chief rival Huawei Technologies Co Ltd’s [HWT.UL] market share declined.

Apple’s smartphone market share reached 23%, a record for the brand. Its unit sales volume grew 32% year-on-year in the quarter, while total smartphone sales in China fell 9%, according to Counterpoint.

Counterpoint analyst Mengmeng Zhang cited a lower starting price in China and the impact of U.S. sanctions against Huawei, Apple’s main competitor in the high-end segment, as factors.

Apple last ranked as China’s top-selling smartphone brand in late 2015, just after the company launched its iPhone 6, which attracted Chinese consumers with their large screens.

In 2021 as a whole, Apple ranked as China’s third best-selling smartphone brand with 16% of the market.

Vivo and Oppo, two Android handset brands under the privately-owned BBK Electronics, ranked first and second with 22% and 21% respectively.

Year on year, Apple’s unit sales rose 47% while Huawei’s tumbled 68%. Overall smartphone sales in China fell 2%, according to Counterpoint.

Lengthening upgrade cycles have presented an ongoing dilemma for Chinese smartphone brands looking to maintain growth at home, as consumers delay purchasing new devices.

A global chip and component shortage has meanwhile rattled the entire electronics industry, affecting pricing and margins for all hardware makers.

(Reporting by Josh Horwitz, Editing by Louise Heavens and John Stonestreet)

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Gold price remains down following 11.9% rise in U.S. new home sales – Kitco NEWS

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(Kitco News) – The gold market remains under pressure but is seeing little movement following stronger than expected U.S. new home sales numbers.

New home sales increased 11.9% to a seasonally adjusted annual rate of 811,000 units last month, the Commerce Department said on Thursday. The sales data came in much stronger than expected as consensus forecasts expected a sales rate of 759,000 homes.

The report also noted that sales are down 14% compared to December 2020.

The gold market is not seeing much reaction to the latest housing data. Spot gold futures last traded at $1,836.98 an ounce, down 0.60% on the day.

According to some market analysts, gold is seeing little reaction to the latest economic data as traders prepare for the Federal Reserve’s latest monetary policy decision, which comes out in the afternoon. The U.S. central bank is expected to lay the groundwork for a rate hike in March.

Economists are closely watching the U.S. housing market. This sector could start to cool as rising interest rates will push mortgages higher.

Looking at some of the components of the latest housing report, the median sales price of new houses sold in December 2021 was $377,700. Meanwhile, the average sales price was $457,300. 

Looking at inventory levels, the report said that the supply of new homes sale as of the end of December totaled 403,000 homes, representing a 6-months supply.

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TD Bank to add 2,000 technology roles in 2022, expanding workforce by 2%

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Toronto-Dominion Bank said on Wednesday it plans to hire more than 2,000 people to fill technology roles this year as it seeks to expand capabilities in engineering, automation, artificial engineering, cloud technology and cybersecurity.

The hiring plans would expand TD’s 89,658-strong workforce by about 2.2%, based on its fourth-quarter financial statement.

Canadian banks have poured capital into growing technological capabilities in recent years while shrinking headcounts, particularly as the COVID-19 pandemic turbocharged demand for online banking services.

But TD’s growth plans come at a time when other industries are also boosting their digital capabilities and demand for technology talent is already red-hot. Canada’s digital economy is likely to account for about 11% of all employment by 2025, triggering demand for an additional 250,000 jobs, the Information and Communications Technology Council said in an August report https://www.ictc-ctic.ca/ictc-labour-market-outlook-additional-demand-digital-talent-reach-250000-2025.

That puts an even bigger spotlight on the bank’s expenses after they rose 7% in fiscal 2021, driven in large part by variable employee compensation. The bank does not have a specific target for expense growth and will prioritize important projects that will drive growth, executives said on its fourth-quarter earnings call last month.

“Technology is now closer to our customers than ever before,” said Greg Keeley, senior executive vice president for platforms and technology at TD. “It is undeniably an incredibly competitive landscape as financial services compete with Big Tech and Fintech for top talent in the industry.”

 

(Reporting by Nichola Saminather; Editing by Will Dunham)

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