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Search resuls for: "Alberta Investment Management Corp"


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TORONTO, Nov 1 (Reuters) - Canadian Finance Minister Chrystia Freeland will seek to challenge Alberta Premier Danielle Smith's plan to pull her province out of the Canada Pension Plan (CPP), in a meeting with provincial and territorial counterparts on Friday. A nationwide pension scheme called CPP that took contributions from paychecks began in the late 1960s. CPP Investments - an entity to manage its assets - was created in 1997 by the Canada Pension Plan Investment Board Act. AIMCo has not been considered a vehicle for a new Alberta pension plan. If Alberta walks away with more than 22.5% of assets, CPP contributions from everywhere else in the country would have to increase, Tombe estimates.
Persons: Chrystia Freeland, Danielle Smith's, Justin Trudeau, Pierre Poilievre, paychecks, AIMCo, SMITH, Smith, Patrik Marier, Trevor Tombe, Tombe, Maiya Keidan, Deepa Babington Organizations: TORONTO, Canadian Finance, Canada, Conservative Party, CPP Investments, Plan Investment, Investments, Alberta Investment Management Corp, Concordia University, University of Calgary, British Columbia, Thomson Locations: Quebec, Alberta, Ottawa, ALBERTA, Western, Ontario
Feb 1 (Reuters) - North American pipeline operator TC Energy Corp (TRP.TO) on Wednesday raised its cost estimate more than expected for completing its troubled Coastal GasLink project, sending share prices sharply lower. The company attributed the cost increase to a labor shortage, poor work by contractors and adverse weather. TC is looking to sell C$5 billion worth of assets this year to raise funds to repay debt and pay for projects including Coastal. TC Energy raised its overall 2023 capital expenditure outlook to C$11.5 billion-C$12 billion from C$9.5 billion earlier, partly due to Coastal's higher costs. An impairment will be recognized to TC Energy's equity investment in Coastal in its fourth-quarter results scheduled for Feb. 14, the company said.
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