WestJet drops out of talks with government on pandemic aid cbc.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbc.ca Daily Mail and Mail on Sunday newspapers.
One year after the official declaration of a global pandemic, the wait is over for
Air Canada(TSX:AC). The federal government unveiled a financial support package for the beleaguered airline company. Negotiations with other airlines on possible aid agreements are ongoing.
The discussions leading to the deal were tortuous more than smooth. According to Finance Minister Chrystia Freeland, the breakthrough is overdue because the government wanted a good deal, not just any deal. Still, all is well that ends well. Freeland credits Deputy Finance Minister Michael Sabia for his role as lead negotiator.
The $5.9 billion-dollar deal
The Air Canada package is worth $5.9 billion, a combination of secured and unsecured credit facilities, plus a 6% equity stake for the federal government. The latter will purchase $500 million worth of the airline stock. Some industry observers weren’t surprised that the deal includes public participation in equity.
The Daily Chase: Texas freeze roils energy markets; stocks set to extend run Oil pumping jacks, also known as nodding donkeys in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020. The flaring coronavirus outbreak will be a key issue for OPEC+ when it meets at the end of the month to decide on whether to delay a planned easing of cuts early next year. Photographer: Andrey Rudakov/Bloomberg , Bloomberg
West Texas Intermediate crude oil has traded as high as US$60.95 and New York gasoline futures have spiked almost 6 per cent as a Texas winter blast wreaks havoc with energy infrastructure. As of 6 a.m. ET this morning, almost 4 million customers were without power in the state, according to poweroutage.us. Meanwhile, itâs been estimated that at least 1 million barrels in daily oil production has been shut down as the cold snap stings shale production in the United St
The Daily Chase: Reddit s stock frenzy continues; IMF boosts global outlook VIDEO SIGN OUT
The speculative frenzy surrounding BlackBerry and GameStop appears poised to extend into another day, with shares of both jumping again in pre-market trading as the frenzy on Reddit overwhelms Wall Street. Even that social networkâs co-founder is getting in on the action. Weâve heard from market professionals, and those who track them closely, that segments of the market are âliving in different universesâ and that itâs going to âcome to a very bad endâ for those who are pumping gains entirely detached from fundamentals. But when? And whatâs a more conservative retail investor to do? Weâll explore those and other question surrounding this mania today.