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QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
FB   168.83 (+1.98%)
MSFT   163.49 (-1.08%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
NVDA   259.03 (-3.49%)
BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
F   4.71 (+3.97%)
NFLX   372.28 (-2.02%)
BAC   22.14 (+3.51%)
GILD   74.67 (-3.94%)
DIS   101.24 (+1.67%)
PRI   88.06 (+1.11%)
S&P 500   2,659.41 (-0.16%)
DOW   22,653.86 (-0.12%)
QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
FB   168.83 (+1.98%)
MSFT   163.49 (-1.08%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
NVDA   259.03 (-3.49%)
BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
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GILD   74.67 (-3.94%)
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QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
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MSFT   163.49 (-1.08%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
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BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
F   4.71 (+3.97%)
NFLX   372.28 (-2.02%)
BAC   22.14 (+3.51%)
GILD   74.67 (-3.94%)
DIS   101.24 (+1.67%)
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Teck pulls application to build Alberta oil sands mine

Posted on Sunday, February 23rd, 2020 By Rob Gillies, Associated Press

TORONTO (AP) — A Canadian company said Sunday that it has withdrawn its application to the federal government to approve a huge open-pit oil sands mine in Alberta.

Teck Resources Ltd.'s chief executive, Don Lindsay, said investors and customers increasingly want jurisdictions to have a framework in place that reconciles resource development and climate change. He said that ``does not yet exist here today.''

Teck said it not longer is seeking approval for its Frontier mining project and will write down its cost.

The $20.6 billion Canadian (US$15.5 billion) project would have created an estimated 7,000 construction jobs, 2,500 operating jobs and about $12 billion Canadian (US$9 billion) in federal income and capital taxes. But it was also expected to produce about 4 million tonnes of greenhouse gas emissions annually over 40 years.

Low oil prices and environmental concerns made construction unlikely.

Alberta Premier Jason Kenney said in a statement he was gravely disappointed.

Prime Minister Justin Trudeau's government had until the end of the month to make its decision on whether to approve the project.

Last week, author Alice Munro and dozens of other Nobel Prize winners urged Trudeau to reject the project, calling fossil-fuel expansion an affront to the climate emergency and incompatible with Canada's pledge to reduce greenhouse gas emissions.

The withdrawal comes as barricades put by indigenous protesters are blocking rail service across Canada. Demonstrators have set up blockades in British Columbia, Ontario, Alberta and Quebec in solidarity with opponents of the Coastal GasLink pipeline project that crosses the traditional territory of the Wet'suwet'en First Nation in northwestern British Columbia.

Companies Mentioned in This Article

CompanyCurrent PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Teck Resources (TECK.B)C$11.69+8.7%1.71%-10.81BuyC$25.27

13 Stocks Institutional Investors Won't Stop Buying

University endowments, pension funds, sovereign wealth funds, hedge funds and other institutional investors have recently been pouring money into a a group of 13 elite stocks.

These institutional investors don't get easily swayed by hot stocks that are popular with retail investors. You probably won't see a Tesla or a SnapChat in this group, because institutional investors know that these "popular kid" stocks almost always aren't great investments. However, you will find some incredibly solid companies on this list backed by real earnings and real fundamentals.

In order to identify these stocks, we had to comb through every 13D and 13F filing that institutional investors have filed with the SEC in the last quarter. After reviewing more than 5,000 filings, we have identified 13 companies that institutional investors have been buying left. Big money investors are pouring hundreds of millions of dollars into these stocks.

View the "13 Stocks Institutional Investors Won't Stop Buying".

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