Energy & Commodities

SNC Lavalin ‘appalled and surprised’ as Codelco cancels $260m contract

Posted by Noah Zivitz

on Tuesday, 26 March 2019 13:42

SNC-Lavalin Group Inc. is blasting Codelco’s decision to pull the plug on a $260 million contract that was at the root of two recent profit warnings.

The embattled Canadian construction giant confirmed late Monday night that it had received official notice of the termination, saying it was “appalled and surprised” by the Chilean state-owned miner’s decision.

“We believe that this termination is unwarranted and in breach of good faith agreements reached by…Click here for full article.

The Countries with the Most Monstrous Corporate Debt

Posted by Wolf Richter

on Monday, 25 March 2019 10:16

US corporate debt, excluding debt by banks – so “nonfinancial” corporate debt – has surged in recent years by all measures and to such an extent that it was featured prominently in the Fed’s Financial Stability Report, in terms of what might trigger the next financial crisis. The Fed is counting total nonfinancial business debts, which include the debts of businesses that are not incorporated. It found about $17 trillion…Click here for full article.

Shocking Stat

Posted by Michael Campbell

on Sunday, 24 March 2019 9:19

Two beauties are featured this week. One shocked the sports world and the other’s about the astounding increase in pipelines in the US compared to Canada.

$100 Billion In Economic Activity Stalled or Lost

Posted by Michael Campbell

on Saturday, 23 March 2019 12:15

Opponents of Kinder Morgan or the Coastal Gaslink and the Kinder Morgan expansion don’t care if the economy loses $100 billion or a $10 trillion or how much government revenues suffer in derailing the oil and gas industry – but the rest of us should.

MedMen Receives $250M Investment From Gotham Green Partners

Posted by Alex Oleinic

on Friday, 22 March 2019 12:34

Medmen Enterprises Inc MMNFF 4.41% remains an attractive company to institutional investors. On Friday, the company signed an agreement for a convertible credit facility of up to $250 million from Gotham Green Partners.

MedMen’s subsidiary, MM CAN USA, Inc. will issue convertible senior secured notes totaling up to $250 million on a private placement basis. The notes will be issued in three tranches. The initial tranche will total $100 million, while the other two will be equally split into $75 million each and will be issuable at the option of MedMen, subject to…Click here for full article.