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iPolitics By iPolitics. Published on May 5, 2021 11:17am
The Lead
Pandora, the world’s biggest jeweller, announced on Tuesday that it will no longer use mined diamonds in its products. The Danish company said that moving forward it will exclusively be using diamonds created in labs.
Growing concerns related to the mining industry’s environmental and human rights practices have led to increased demand for alternatives to mined diamonds. Pandora stressed that lab-grown diamonds have identical chemical characteristics and will also make diamond jewellery more affordable in the future.
“They are as much a symbol of innovation and progress as they are of enduring beauty and stand as a testament to our ongoing and ambitious sustainability agenda,” said Pandora CEO Alexander Lacik in a statement. “Diamonds are not only forever, but for everyone.”
Financial Results
In the first quarter of 2021, PHX Energy reported improved adjusted EBITDA as a percentage of revenue and earnings from continuing operations despite the ongoing effects of the COVID-19 pandemic. For the three-month period ended March 31, 2021, the Corporation achieved adjusted EBITDA from continuing operations of $14.5 million, 21 percent of revenue, compared to $19.3 million, 19 percent of revenue, in the corresponding 2020-period. Earnings from continuing operations in the three-month period ended March 31, 2021 increased to $5.3 million from a loss of $2.2 million in the 2020-quarter. The sustained cost discipline initiatives from the prior year and the positive impact of government grants contributed to the improved profitability and earnings in the first quarter of 2021. This improved profitability in the first quarter of 2021, however, was affected by the cash-settled share-based payments expense of $2.6 million compared to a recovery of $3.4 million in the
The
S&P/TSX Composite Index was up 163 points in mid-morning trading on May 3. This is a nice start for Canadian stocks after a choppy finish to the previous month. Today, I want to look at three TSX stocks that are worth buying for Canadians that have some extra cash on hand. Let’s dive in.
Why this energy stock is worth nabbing today
In late February, I’d discussed why investors should target energy stocks, as oil and gas prices were on the rise. The spot price of Western Canadian Select (WCS) is trading above $50/barrel compared to under $20/barrel this time last year.
iPolitics By iPolitics. Published on May 4, 2021 12:39pm
The Lead
The federal government will take over the environmental assessment (EA) of the proposed Highway 413 project in Ontario, Environment and Climate Change Minister Jonathan Wilkinson announced Monday, in response to the pleas of several environmental groups to do so. Highway 413, also known as the GTA West corridor, would extend 59 km west of Toronto.
“The Impact Assessment Agency of Canada and other federal departments have identified clear areas of federal concern related to this project,” Wilkinson said in a statement. “My decision is based on their finding that this project may cause adverse direct or incidental effects on federally listed species at risk, and the uncertainty that officials have brought to my attention … whether those effects can be mitigated through project design or existing mechanisms.”