A major Canadian rail company is shutting down trans-continental train services amid blockades protesting a pipeline in British Columbia.
CN Rail says it will be forced to shut down its eastern network, which will effectively stop all cross-country freight trains.
The stoppage will also affect passenger trains nationwide, which use CN tracks.
More than 150 routes had been cancelled previously amid protests against the Coastal GasLink pipeline.
Blockades against the proposed pipeline, which Prime Minister Justin Trudeau’s government says invigorate natural gas exports in British Columbia, began last week.
Its route cuts through indigenous Canadian land.
JJ Ruest, CN’s chief executive, called the train stoppage a “regrettable” situation, but said the cancellations were due to circumstances “beyond our control”.
“Our shutdown will be progressive and methodical to ensure that we are well set up for recovery, which will come when the illegal blockades end completely,” Mr Ruest said.
Some 5 million Canadian commuters use the intercity passenger services of Via Rail on tracks mostly owned by CN. Thousands have already been forced to find alternative means of travel.
CN said the stoppage may also lead to temporary layoffs.
Prime Minister Justin Trudeau has written to the indigenous leaders at the heart of the rail blockade, and promised to send ministers to help reach an agreement.
“As you know, our government has been clear that there is no more important relationship to me and to Canada than the one with Indigenous peoples,” Mr Trudeau wrote.
What is the issue?
The Coastal GasLink pipeline is a 670km (416 miles) pipeline that would ship natural gas from north-eastern part of the province to the coast.
The C$6bn ($4.5bn, £4bn) project in a remote part of the province about a day’s drive from Vancouver has been in the works since 2012.
Some 28% of the pipeline route passes through Wet’suwet’en lands.
Coastal GasLink said it has reached deals with 20 elected indigenous councils along the route to move ahead with construction, including some Wet’suwet’en councils.
But Wet’suwet’en chiefs oppose it and say they, not the community’s elected officials, hold authority over traditional lands. They have warned that the project will cause pollution and endanger wildlife.
For years, protesters have erected camps have been erected along the proposed pipeline route to prevent access to construction sites.
In February, police enforced a court injunction and cleared the camps, arresting people in the process.
Meanwhile, other blockades have been erected across the country in solidarity, disrupting rail lines and ports.
ST. JOHN’S, N.L. – Suncor Energy has been fined $90,000 after pleading guilty to two charges stemming from a worker injury in 2019 aboard its production vessel in an oilfield off the coast of Newfoundland.
In a news release Thursday, the province’s offshore oil regular said the company must also give $20,000 to the College of the North Atlantic’s health and safety management program.
The Canada-Newfoundland and Labrador Offshore Petroleum Board says Calgary-based Suncor pleaded guilty on Sept. 5 for failing to ensure the safety of its employees and failing to ensure its employees wore a safety harness attached to a lifeline while inside a confined space.
The board says a worker fell 7.6 metres from a safety ladder while testing for hydrogen sulfide in a ballast tank on the floating production and storage vessel in the Terra Nova offshore oilfield.
An agreed statement of facts says two emergency response workers then went into the tank to tend to the fallen man, and they were not wearing gas masks.
Suncor Energy is the majority owner of the Terra Nova oilfield, and it reported net earnings of $1.57 billion in the second quarter of this year.
This report by The Canadian Press was first published Sept. 17, 2024.
Toronto-Dominion Bank has named new co-heads of its U.S. commercial banking business.
TD says Andy Bregenzer and Jill Gateman will jointly lead the operations.
The bank says the appointments follow the announcement earlier this year of Chris Giamo’s retirement.
Bregenzer will focus on leading all aspects of the regional commercial bank, including small business.
Gateman will lead TD’s national commercial banking effort in the U.S., including middle market, sponsor-backed finance and TD’s other specialty lending lines of business.
TD, which is working to resolve investigations into failures in its anti-money laundering program in the U.S., announced last week that chief executive Bharat Masrani would retire next year and be replaced by Raymond Chun.
This report by The Canadian Press was first published Sept. 26, 2024.
MONTREAL – Lightspeed Commerce Inc. says it is conducting a review of its business and operations including talks relating to a range of potential strategic alternatives.
The Montreal-based payments technology company made the comments after reports concerning a potential transaction involving the company.
Lightspeed says it periodically undertakes a review of its business and operations with a view of realizing its full potential.
A strategic review is often seen by investors as a prelude to a sale by a company.
Lightspeed says its board of directors is committed to acting in the best interests of the company and its stakeholders.
Company founder Dax Dasilva returned to the role of chief executive officer earlier this year and has been working to return the company to profitability.
This report by The Canadian Press was first published Sept. 26, 2024.
