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A worker sorts out packages at a delivery company warehouse to be delivered to customers during "Singles’ Day" — the world’s biggest 24-hour shopping event — in Beijing on Monday. Good Morning! This just in, Canadian tech giant OpenText is buying cloud security company Carbonite Inc in a deal valued at about US$1.42 billion. That’s a 78% premium to Carbonite’s closing stock price on Sept. 5. Check here for more on this shortly. The Keystone oil pipeline has returned to service much to the relief of the Canadian oil industry. The pipeline has been shut since Oct. 30 when a drop in pressure was detected and more than 9,000 barrels of oil leaked out. Keystone, which pumps 590,000 barrels a day or 17% of Alberta’s monthly output, is a crucial artery for getting Canadian oil to the United States. Outages from leaking pipelines have posed another headwind to Canada’s oilpatch, along with fears about global demand and the lack of pipelines, says CIBC Capital Markets. While optimism about U.S., China trade relations have supported global oil prices, Canadian oil prices (WCS) have fallen to their weakest this year, and the spread between WTI and WCS has grown to its […]
