3 of the best UK tech stocks I’m buying for 2021

first_imgSimply click below to discover how you can take advantage of this. Roland Head | Saturday, 12th December, 2020 | More on: FDM MONY SGE Enter Your Email Address I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Roland Head owns shares of FDM Group and Moneysupermarket.com. The Motley Fool UK has recommended Moneysupermarket.com and Sage Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.center_img This year has seen a massive rally in UK tech stocks, with some mirroring the big gains seen in the US market.I’m not keen on paying over the odds for my shares, so I’ve been hunting for bargain UK tech stocks that still look cheap enough to offer the potential for big gains. I’ve unearthed three tech stocks I want to own.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Too cheap to ignore?Shares in price comparison website Moneysupermarket.com Group (LSE: MONY) have lagged the market this year, due to a pandemic-related slowdown in sales. However, although earnings are expected to slump in 2020, analysts expect a strong recovery in 2021.Is that realistic? I think so. The main areas where Moneysupermarket has suffered this year have been travel insurance and personal finance. No one has been travelling outside the UK and banks have been cutting bank on new loans, due to concerns about the economy.I expect both of these headwinds to ease by next summer. Meanwhile, the firm is targeting growth opportunities such as mortgage lending and providing its services to commercial partners, such as banks.Looking ahead, MONY shares trade on around 16 times 2021 forecast earnings, with a dividend yield of 4.6%. Moneysupermarket has no debt and delivers profits margins of about 30%. I think this UK tech stock is too cheap and I’ve been buying it for my portfolio.I’d back owner managementIT services group FDM Holdings (LSE: FDM) provides business and technical experts to work on client sites. These are called ‘Mounties’ by the firm. To give you an idea of scale, the company had 3,721 Mounties placed with clients at the end of September.One of the things I like about this business is it’s run by owner management. CEO Rod Flavell and chief operating office Sheila Flavell own around 15% of the business between them. That gives them a collective stake worth around £170m. I reckon they should be motivated to deliver strong shareholder returns.FDM is a profitable business too. The group’s operating profit margin has averaged more than 18% in recent years and cash generation is good. Although last year’s dividend was cut, analysts expect a payout of 34p per share this year, giving a useful 3.3% yield.Broker forecasts suggest a return to earnings growth in 2021. I’m happy to keep holding and buying FDM shares.The next UK tech stock I’ll buy?The final company I want to look at is FTSE 100 accounting software group Sage (LSE: SGE). It disappointed investors recently when it warned profits could dip in 2021.Sage’s share price has fallen more than 15% over the last month. That’s left the shares trading at a level last seen when the stock market crashed in March.I think this negative sentiment has gone too far. Sage is continuing to make good progress converting customers to its cloud-based subscription services. This is limiting growth today. But, in future years, I expect the firm’s recurring revenue to support reliable, growing profits.The company is also increasing its spending on new products and services. For a tech business, I generally see that as a good thing. Anyone who doesn’t innovate gets left behind.Sage has a long track record of high profit margins and strong shareholder returns. I’m hoping to use the current lull to add some Sage stock to spice up my portfolio. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images 3 of the best UK tech stocks I’m buying for 2021 See all posts by Roland Head Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!last_img read more

TransCanada to apply for Environmental Certificate on proposed Coastal GasLink Pipeline

first_imgThe proposal includes the installation of permanent facilities such as compressor stations at up to eight locations and and a meter station at up to three locations. As part of construction ancillary sites like access roads, temporary bridges, storage areas for equipment and pipe, and construction camps for workers will need to be built.It would initially have the capacity to flow approximately two to three billion cubic feet of natural gas per day. With further expansion, it could deliver up to approximately 5.0 billion cubic feet per day.Once regulatory approvals have been received construction on the proposed project would begin in 2015 or 2016 and be commissioned by the end of the decade.- Advertisement –last_img

Klopp warns Liverpool to respect Porto

first_img0Shares0000Jurgen Klopp insists Liverpool won’t understimate Porto © AFP / Christof STACHELONDON, United Kingdom, Mar 15 – Jurgen Klopp insists Liverpool won’t underestimate Porto after being handed a Champions League quarter-final clash with the Portuguese underdogs in Friday’s draw.Klopp’s side will go into the Porto tie as heavy favourites to advance to a semi-final showdown against Barcelona or Manchester United. Liverpool crushed Porto 5-0 on aggregate in the Champions League last 16 just last season, scoring all five goals in the away leg before a goalless draw in the return at Anfield.“What can I say? It’s Porto and we’ve played there already and we know how good we had to be last year,” Klopp told Liverpool’s website.“The result in the end was a strange one; it was very good for us, of course, but it was a strange one. In the second leg, we saw the character of Porto and the quality they have.”With United taking on Barca and Tottenham facing Manchester City in the other quarter-finals, Liverpool got what looks the easiest draw of the four Premier League teams.But Reds boss Klopp is determined to ensure his side give Porto respect when they arrive on Merseyside for the first leg next month.“I could not be further away from thinking it’s the best draw because it isn’t,” he said.It is just the draw, it’s the opponent we have to prepare for and that’s all we will be thinking about from when we start preparing for the game.”Liverpool are hoping to go one better than last season when they were beaten by Real Madrid in the Champions League final.They are also competing for the club’s first domestic league title since 1990, setting up a potentially glorious end to the season.But Klopp isn’t looking that far ahead and has warned his players that Porto will be desperate to avenge last year’s thrashing.“100 per cent (it could give them extra motivation). Porto were not on my wish list, but now they are our opponent, it is how it is and we have to play them,” he said.“The first thing you have to do is make sure everybody respects the opponent the right way –- and we will do that 100 per cent. We will know about the quality of Porto and then we have to play the game.”0Shares0000(Visited 1 times, 1 visits today)last_img read more

49ers’ Raheem Mostert on journey from scary injury to star RB: ‘I look at it as a blessing’

first_imgSANTA CLARA — This time last year, Raheem Mostert was bandaged up, arm slung in a healing position. Two metal plates and 16 screws mended the bones in his right forearm, snapped clean on a rushing attempt in a Week 9 game against the Raiders.Mostert’s arm went limp and swelled, but adrenaline overcame pain until the fire subsided that night. That’s when Mostert started to feel both the physical discomfort and an emotional realization. In his short career, the track star-turned-running back was …last_img

Astronomers Missed Half the Visible Universe

first_img(Visited 40 times, 1 visits today)FacebookTwitterPinterestSave分享0 Dark matter still has “no explanation whatsoever,” and meanwhile, half of the real stars in the universe have been hiding in plain sight.Like government accountants saying “Whoops” at finding twice as much debt in their books as thought, astronomers have stumbled upon a whole population of stars that may outnumber all the known stars in the universe.  Stars flung out from galaxies constitute a “mystery sea of stars,” Science Daily says.  A Caltech rocket instrument surprised astronomers with a glow they think comes from these wanderers:Using an experiment carried into space on a NASA suborbital rocket, astronomers have detected a diffuse cosmic glow that appears to represent more light than that produced by known galaxies in the universe. The discovery suggests that many such previously undetected stars permeate what had been thought to be dark spaces between galaxies, forming an interconnected sea of stars.While it’s always delightful to learn something new about space, it’s also embarrassing to find half of visible reality undiscovered till now.  “Measuring such large fluctuations surprised us, but we carried out many tests to show the results are reliable,” the study leader confessed.  The discovery means that part of the glow does not come from the first galaxies after the big bang, but is more recent:Initially some researchers proposed that this light came from the very first galaxies to form and ignite stars after the Big Bang. Others, however, have argued the light originated from stars stripped from galaxies in more recent times. CIBER was designed to help settle the debate.Fluctuations in the glow appear to be too bright to be from the first galaxies.  The light, furthermore, is too bluish:In short, Zemcov says, “although we designed our experiment to search for emission from first stars and galaxies, that explanation doesn’t fit our data very well. The best interpretation is that we are seeing light from stars outside of galaxies but in the same dark matter halos. The stars have been stripped from their parent galaxies by gravitational interactions — which we know happens from images of interacting galaxies — and flung out to large distances.“It will take more work to be sure, but that’s the best explanation they have for now.  S. H. Moseley titled his write-up of the paper in Science Magazine, “The other half of the universe?”  This may represent a case where astronomers were fooled by cosmic steganography:The history of astronomy has largely been concerned with the study of discrete objects: planets, stars, and galaxies. From such observations, we have discovered the nature and evolutionary histories of these objects. It is natural to ask whether these studies provide a comprehensive picture of the evolution of the universe, or whether large numbers of objects too faint to detect individually or intrinsically diffuse sources may be present. On page 732 of this issue, Zemcov et al. (1) present results from a study of near-infrared background light that reveal that as many as half of all stars have been stripped from galaxies in their many collisions and mergers over the history of the universe. At galactic distances, the stars are faint but can be detected in ensemble through the spatial variations in sky brightness caused by their spatial distributions. It is remarkable that such a major component of the universe could have been hiding in plain sight as an infrared background between the stars and galaxies.Although this diffuse glow is not the same as the cosmic microwave background (CMB), “The existence of such a population of sources complicates the measurement of the fluctuations from the early universe,”  Moseley says, suggesting that the BICEP team may have more worries to deal with (see 9/25/14).  So here is something majorly new after decades of the Hubble Space Telescope and other high-tech instruments scanning the skies at all wavelengths.  Moseley’s astonishment is as palpable as a bang: “It should not be easy to hide half the stars in the universe!”Mysteries and Dark SecretsThat’s not the only surprise.  Astronomers are dealing with these additional mysteries announced recently:“Mystery over monster cosmic cloud” (BBC News).  Astronomers are debating “a cosmic confrontation between a huge gas cloud and the black hole at the centre of our galaxy.”  Is it a merger?  Why should we be so lucky to see it happen?Quasar puzzle (Nature): “An infrared census of accreting supermassive black holes across a wide range of cosmic times indicates that the canonical understanding of how these luminous objects form and evolve may need to be adjusted.”“First ultraluminous pulsar: NuSTAR discovers impossibly bright dead star” (PhysOrg): A compact powerhouse with the energy of 10 million suns is not a black hole, but a pulsar.  This pulsar “takes the top prize in the weirdness category.““The mystery of pulsar rarity at the center of our galaxy” (PhysOrg):  Where are they?  “With so many stars, astronomers estimate that there should be hundreds of dead ones. But to date, scientists have found only a single young pulsar at the galactic center where there should be as many as 50.”  It seems really suspect to pose this ad hoc rescue device: “Maybe those pulsars are absent because dark matter, which is plentiful in the galactic center, gloms onto the pulsars, accumulating until the pulsars become so dense they collapse into a black hole.”  See next story.“Universe is older than it looks” (PhysOrg): Can a star be older than the universe? Explaining a “Methuselah star” requires tweaks to dark matter and dark energy theories, but “Dark energy and dark matter are, as have been discussed widely, controversial physical phenomena for which we have absolutely no explanation whatsoever,” the article whimpers.“Hungry black hole eats faster than thought possible” (PhysOrg):  Step aside, Takeru Kobayashi: a black hole 12 million light-years away “is ingesting a weight equivalent to 100 billion billion hot dogs every minute.““Dark matter: Out with the WIMPs, in with the SIMPs?” (Science Magazine and PhysOrg): Now that Weakly Interacting Massive Particles appear to be figments of astronomers’ dreams (10/06/14), how about “Strongly Interacting Massive Particles”?  Are these like Homer SIMPSon?   “Like cops tracking the wrong person, physicists seeking to identify dark matter—the mysterious stuff whose gravity appears to bind the galaxies—may have been stalking the wrong particle.” Is anyone paying attention to the Keystone Cosmologists any more?  Science Daily shows how to spin-doctor an embarrassing fact into an aura of triumphal progress.Antimatter Imbalance: Stuff Happens (Science Daily): There should be equal amounts of matter and antimatter from a big bang, but there’s almost no antimatter found.  “Something must have happened to cause extra CP violation and, thus, form the universe as we know it,” Sheldon Stone, a “Distinguished Professor,” says in a tad undistinguished manner.Epic Fail: maybe it wasn’t the Higgs (PhysOrg): That particle that won its discoverers a Nobel Prize may not have been the Higgs boson, a Denmark physicist says.The revolution devours itself (Science Daily): Dark energy is swallowing up the dark matter, astronomers claim.Now that we all have increased confidence in the ability of astronomers and cosmologists to tell us how things came to be, we can rest assured that the “hard sciences” of physics, chemistry and astronomy are the best examples of solid science in the world (see, for example a confident story in Science Daily).  Relativity and quantum mechanics are the pillars of modern physics.  What could possibly go wrong?“New math and quantum mechanics: Fluid mechanics suggests alternative to quantum orthodoxy” (MIT via Science Daily): The famed “Copenhagen interpretation of quantum mechanics has stood the test of time for decades, but MIT astronomers think an older, discarded interpretation, the “pilot-wave theory,” deserves a second look.“Why a Physics Revolution Might Be on Its Way” (Live Science): The field of physics “may be turned on its head soon,” a “renowned physicist” Nima Arkani-Hamed thinks.  Why?For one, he said, the tried and true physics of relativity and quantum mechanics don’t get along well. The problem is that in some sense, the principles behind these theories seem to be impossible when physicists dig a little deeper into them, Arkani-Hamed said. Scientists run into a lot of problems when they try to apply these theories to the entirety of space and time.The two ideas are also incredibly constraining, and they make it challenging for physicists to think outside the box and develop new ideas and theories, Arkani-Hamed said.Like Murphy said, there’s never enough time to do it right the first time, but there’s always time to do it over.  At least today’s scientists aren’t as bad as the chemists who lied, prevaricated, and made up fictional “elements” back in the day (“Chemists behaving badly,” Nature).  Are they?We just thought you would like to know how trustworthy the modern culture’s purveyors of wisdom and truth can be. For some probing questions about cosmologist’s claims, with some clever unmasking of scientific pretensions, see  David Berlinski’s 2009 essay “The State of the Matter” The Deniable Darwin and Other Essays.With far too few pulsars out there, it might be worthwhile to “think outside the box” of billions of years.  In any case, think about the above headlines next time some compromising creationist praises the big bang theory, and tells you that Biblical interpretation must be built on the unimpeachable foundation of secular science.last_img read more

eBook focus at Cape Town Book Fair

first_imgArchbishop Emeritus Desmond Tutu was a guest speaker at the 2010 event. The 2012 Cape Town Book Fair will attract more visitors than ever before, with 50 000 expected to walk through the doors.(Images: Cape Town Book Fair) MEDIA CONTACTS • Brian Wafawarowa  Executive director  Publishing Association of South Africa  +27 21 762 7159 RELATED ARTICLES • Young writer to publish 18th book • Crime lit in SA – a new phenomenon • Local author gets top sci-fi award • JM Coetzee archive heads to US • SA pupils win World Literary QuizShamin ChibbaWith books increasingly published in both paper and digital formats, the South African publishing industry will have to develop new business models in order to take advantage of the transition.This is just one of the issues that leaders in the book publishing industry will be discussing at this year’s sixth Cape Town Book Fair, taking place for the first time in its new biennial format.The event runs from 15 to 17 June at the Cape Town International Convention Centre (CTICC), just three days after the city hosts the 29th International Publishers Association congress.According to the executive director of the Publishing Association of South Africa, Brian Wafawarowa, the fair will give exhibitors the chance to network with one another and also with the public.“It will allow traders to exchange knowledge and give the public an insight into the industry,” he said.         Some 200 publishers from countries in Africa and the Arab world, and developing nations such as India and China, will showcase their books to an expected 50 000 visitors.Companies will be launching new titles, profiling their authors and selling books at discount prices.“Authors will sign books and hold presentations,” said Wafawarowa.As well as the transition to digital, industry leaders will also discuss new business models that have to be developed because of the advent of the ebook, as well as the issue of access to books.The first morning is free to trade visitors who have preregistered before 1 June 2012. It is open to the public from 2pm and will run until 10pm.Small publishers benefitThe exhibition was a yearly affair but has since changed to a biennial event after the publishing industry asked organisers to remain in line with their production capacity.“They wanted it to be every two years because by then they would have a substantial number of books to display,” said Wafawarowa.He said this exhibition works well for small local publishers that do not have the exposure their larger counterparts receive at the London, Bologna or Frankfurt book fairs.“Some are hardly known in this country and they get good exposure here.”To add a snazzier feel to the event, organisers have unveiled an eye-catching new logo, which shows a stack of books arranged in the shape of Table Mountain.They have also partnered with Thebe Special Projects, Conferences and Events which will help enhance the quality of the event and the experience of exhibitors.First African IPA Congress everThe IPA Congress will be held in Africa for the first time in the organisation’s 116-year history.Between 12 and 14 June, the congress will take place at the CTICC with the theme Publishing for a new era.The event attracts between 600 and 1 000 professionals and policy makers from around the world, as well as representatives of Unesco, Microsoft and other leading publishers.Delegates will discuss literature’s migration to the digital format, intellectual property laws, the threats of state publishing, and how the slow recovery from the current economic recession affects the publishing industry.Wafawarowa said the decision to bring the congress to South Africa was based on the growing strength of the country’s publishing industry.“Though South Africa is a small market our contribution to literature is significant.”It had taken more than a century for the congress to come to Africa because the continent makes up less than 3% of the world’s book output.However, Wafawarowa said that events such as the fifth IPA Copyright Symposium that took place in Accra, Ghana, in 2002 might have convinced the IPA to bring the congress to Cape Town.last_img read more

The Suit makes waves in Canada

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Smithsonian Institute installs NoDAPL marker

first_imgDennis WardAPTN NewsA pole that sat near the banks of the Cannonball River in North Dakota and was at the epicentre of the battle between water protectors, and the government approved Dakota Access pipeline is now on display at the Smithsonian Institute in Washington, D.C.The 3-metre tall mile-marker stood as a symbol of how people had come from near and far to demonstrate against the pipeline. On January 29, as law enforcement and government continued to threaten to clear out the main camp, the marker was strapped to the top of a car and driven by a group of water protectors from North Dakota to Washington.“It was important to get the mile marker pole out of the camp so that it would not be destroyed by DAPL bulldozers” said Bryanna Patinka.Patinka, who is from upstate New York, was one of those who drove the marker to Washington D.C. to hand over to the Smithsonian Institute.“We wanted to make sure that it was preserved for future generations.”Konwenni Jacobs was also worried about the marker.“The rumours about the camp being raided were floating around and I believe the museum showed an interest in having the mile marker pole to preserve it for the future,” she said.Jacobs, drove from her home in Kahnawake Mohawk Territory, and met the rest of the pole removal crew in Onondaga.From there, they drove straight to Standing Rock, rotating drivers.“It took hours to dig the pole out of the frozen ground,” she said. “A cradle was made to support the pole on top of the truck. The pole was wrapped up good for the drive and we again drove straight to DC.“It was a very intense, fast paced trip.”The pole was installed installed at the Smithsonian’s National Museum of the American Indian in an exhibit called Nation to Nation: Treaties Between the United States and American Indian Nations.Patinka said the drive to D.C was “nerve-wracking” worried that it would fall off the top of the vehicle it was tied too.“When we dropped off the pole it was bittersweet,” she said. “I was happy the pole was being preserved but worried that it would never be displayed.“I’m pleased that the marking pole is being taken care of and is now part of an exhibit.According to Kevin Grover, director of the museum, there were issues at hand in North Dakota that couldn’t be ignored.“When more than 12,000 activists and hundreds of Native Nations assembled in North Dakota during 2016 to protest the Dakota Access Pipeline, treaties were at the heart of the issue” Grover said in a news release.“As the largest gathering of Native Americans in protest, it was truly a historic event and one that should be address in the National Museum of the American Indian.”The museum acknowledged that hundreds of hand-made signs nailed to the post point toward the water protector’s city, state, American Indian Nation, or foreign country and indicate its distance in miles or meters.Points of origin include the small city of Fort Buffalo 50 yards away, the closest, to Sápmi in the Arctic, home of the Sami indigenous peoples, 3,913 miles away.”The mile-marker will be on view until the exhibition closes in 2021.Contact Dennis here: [email protected]last_img read more

BCs attorney general calls Alberta fuelrestriction bill a bluff

first_imgVICTORIA – British Columbia’s attorney general says Alberta’s proposed fuel restriction law is a politically motivated “bluff” that will result in an immediate lawsuit from his province and likely lawsuits from oil companies.David Eby said government legal experts looked at the legislation Alberta tabled Monday and concluded it’s unconstitutional, against the law and designed to not be enacted.“Clearly the legislation is a bluff,” Eby said Tuesday. “They don’t intend to use it. If they did try to use it we would be in court immediately seeking an injunction to stop them from using it, but we would probably have to get in line behind oil companies that would be concerned about contracts that they have with companies in B.C. to deliver product.”Alberta’s proposed legislation and B.C.’s response are the latest manoeuvres in the escalating dispute over the $7.4 billion Trans Mountain pipeline expansion that runs from Edmonton to Burnaby, B.C. The federal and Alberta governments support the project, while B.C. opposes it, saying it is defending its coast from a potentially catastrophic oil products spill.So far, about 200 people have been arrested at a construction zone near the pipeline’s terminal site in Burnaby for allegedly breaking a court injunction keeping protesters away.Indigenous leaders and local Vancouver-area politicians have also warned of increasing civil unrest as people from across Canada mount anti-pipeline protests.Eby said he believed the Alberta legislation was intended to never be adopted, but if Alberta Premier Rachel Notley’s government does pass the law, then B.C. will immediately launch court action.“We think they are very unlikely to use this, given the analysis, and we think they know it, and it is a bill for political purposes only,” Eby said in the legislature Tuesday during question period.Notley said the legislation sends the message that Alberta is prepared to defend its resources.It would direct pipeline companies, truckers and rail operators on how much oil product they ship and when. Violators would face fines of up to $1 million a day for individuals and $10 million a day for corporations.Saskatchewan Premier Scott Moe said Tuesday his province will support Alberta in the fight over the Trans Mountain pipeline expansion by introducing its own legislation on oil exports.He said his government will bring in a bill in the coming days that could result in less oil moving to British Columbia. Moe said he wants the Saskatchewan legislation passed shortly so it can work in tandem with Alberta’s proposed bill.In Quebec, the Opposition Parti Quebecois offered Tuesday to help B.C.The PQ said it will send Premier John Horgan’s minority New Democrat government a bill it tabled in 2014 amid the controversy surrounding the Energy East project. The bill affirmed the predominance of Quebec’s environmental laws and the exclusive jurisdiction of the province in such matters.Quebec’s Liberal government threw its support to Horgan in an opinion piece published last Saturday that said Ottawa would harm federal-provincial relations by making a unilateral decision on the project without B.C.’s blessing.The Canadian Association of Petroleum Producers called the Alberta bill a “very strong tool” it hoped was not needed.B.C. Opposition Liberal jobs critic Jas Johal said the province must end the escalating dispute before gas prices increase sharply in Metro Vancouver.“Without Alberta’s energy, B.C.’s economy would come to a standstill,” he said. “The B.C. Premier (John Horgan) created this crisis, will he fix this mess before gas prices hit $2 a litre?”Gasoline prices in Metro Vancouver are currently hovering around $1.55 a litre.Kinder Morgan, the U.S.-based pipeline builder, announced earlier this month that it was pulling back on spending for the project and gave Prime Minister Justin Trudeau’s government until May 31 to give a clear signal the project will proceed.Trudeau, Notley and Horgan met Sunday in Ottawa to discuss the pipeline, but remain deadlocked. Trudeau repeated the federal government’s commitment to ensure the project is completed, saying his government will hold private, financial talks with Kinder Morgan.Eby said the B.C. government is expecting to announce shortly that it has filed a reference case to the courts to determine if it has jurisdiction over the pipeline in the province.Companies in this story: (TSX:KML)last_img read more

Judge awards Dow Chemical USD106 billion in damages against Nova Chemicals

first_imgEDMONTON – A judge has awarded Dow Chemical Canada $1.06 billion in damages against Nova Chemicals Corporation in a dispute over a massive ethylene plant in central Alberta.The dispute centred around the operation of a production facility in Joffre known as E3.E3 started operating in 2000 as a joint venture, with Nova running the facility.Dow Canada alleged breach of contract over the E3 joint venture agreements, claimed that Nova took part of the ethylene and other products that belonged to Dow and failed to run the facility at full production.Nova said it faced an ethane shortage and ran the facility as full as it could subject to mechanical issues that constrained production.Justice Barbara Romaine of Alberta Court of Queen’s Bench ruled in favour of Dow and against a counterclaim filed by Nova in a case that included claims and counterclaims for damages between 2001 to 2012.“Dow has established these facts and has proved on a balance of probabilities that Nova has breached the joint venture agreements both as Operator and as Co-owner and has converted some of the ethane that Dow was entitled to from E3,” Romaine wrote in a lengthy redacted judgment released Wednesday.“I also grant Dow a declaration that the conduct of Nova as Operator constitutes Wilful Misconduct and Gross Negligence.”Romaine said Dow established that there was no ethane shortage, that Nova always had enough ethane to fill E3 and had the ability and freedom to acquire additional ethane.She also said Dow showed that Nova failed to operate E3 to maximize production and that the facility had more capacity than Nova submitted at trial.The court assessed damages against Nova amount to approximately $1.06 billion USD, but must be converted into Canadian dollars.Jenn Nanz, a spokeswoman for Nova Chemicals, said the corporation will appeal within 30 days.“While this decision is extremely disappointing, it has no impact on our announced growth plans,” Nanz said in an email.“Nova Chemicals is confidently moving forward with: Corunna cracker expansion and AST2 in the Sarnia-Lambton region (and a) joint venture with Total and Borealis in the U.S. Gulf Coast, which closed on May 23.”Officials at Dow Chemical Canada were not immediately available for comment.Ethylene is the building block for a range of chemicals from plastics to antifreeze solutions and solvents.(Companies in this story: TSX:NCX)last_img read more