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Alberta

Reports: Flames closing in on signing UFA forward Nazem Kadri

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The Calgary Flames are closing in on a deal to sign unrestricted free agent Nazem Kadri, according to multiple media reports.

Sportsnet reported the deal is for seven years at US$7 million per season.

The Flames, according to Sportsnet and TSN, are moving forward Sean Monahan to the Montreal Canadiens to create salary cap space for Kadri’s contract. Details of that trade have not been released.

The 32-year-old Kadri was one of the biggest names available in free agency after an All-Star season with Colorado that ended with the Avalanche winning the Stanley Cup.

Kadri had 87 points (28 goals, 59 assists) in 71 games for the Avalanche in 2021-22.

He added 15 points (seven goals, eight assists) in 16 playoff games, including the overtime winner in Game 4 of the Stanley Cup final against Tampa Bay. That was his return to action after being injured in Game 3 of the Western Conference final after being hit from behind by Edmonton forward Evander Kane.

Kadri’s signing would be the latest chapter of a chaotic off-season for the Flames.

Calgary lost leading scorer and Hart Trophy candidate Johnny Gaudreau to the Columbus Blue Jackets early in free agency, then was informed that star forward Matt Tkachuk would not sign a contract extension after the upcoming season.

The Flames dealt Tkachuk to Florida for a package that included forward Jonathan Huberdeau, who had 115 points last season, and defenceman Mackenzie Weegar.

The Flames then locked up Huberdeau long-term with an eight-year, US$84-million contract extension.

Monahan, selected sixth overall by the Flames in the 2013 NHL Entry Draft, has played nine seasons in Calgary. The three-time 30-goal scorer tallied just eight goals and 15 assists for 23 points in 65 games last season.

This report by The Canadian Press was first published Aug. 18, 222.

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Alberta

U.S. senators call for trade crackdown on Canada over dairy quotas, digital policies

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WASHINGTON — A pair of senior U.S. senators is urging the Biden administration to get tough with Canada for “flouting” obligations to its North American trade partners. 

Democrat Sen. Ron Wyden of Oregon and Republican Sen. Mike Crapo lay out their concerns in a letter to U.S. Trade Representative Katherine Tai. 

The letter says American dairy producers still aren’t getting the access to the Canadian market they’re entitled to under the U.S.-Mexico-Canada Agreement. 

It also describes Canada’s planned digital services tax as discriminatory and raises similar concerns about new legislation to regulate online streaming and news. 

All three, the senators say, would give preferential treatment to Canadian content and deny U.S. tech companies fair access to the market north of the border. 

The letter comes after meetings this week in San Diego between U.S., Canadian and Mexican trade emissaries, as well as the North American Leaders’ Summit in Mexico City earlier this month. 

The USMCA, referred to in Canada as CUSMA, has been at the centre of a number of bilateral and trilateral disputes since it went into effect in the summer of 2020. 

“Three years later, it is disappointing that Canada and Mexico have failed to come into full compliance with the agreement — and, in some cases, have flouted their obligations,” the senators write. 

“USTR must take decisive action to ensure full compliance with the agreement and with dispute settlement panel findings. It is critical to ensure that every chapter of USMCA is fully and timely enforced.”

Canada and Mexico have their own issues with how the U.S. is interpreting the deal, which was signed in 2018 after protracted trilateral efforts to replace NAFTA. 

As the Mexico City summit wrapped up, a dispute panel ruled against the U.S. over how it interprets the rules that determine the origin of core automotive components. 

It remains unclear whether the U.S. plans to comply with that decision.   

This report by The Canadian Press was first published Jan. 27, 2023. 

The Canadian Press

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Alberta

TotalEnergies EP Canada ups stake in Fort Hills oilsands project

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Calgary – TotalEnergies EP Canada Ltd. says it is increasing its ownership in the Fort Hills oilsands project by acquiring part of Teck Resources Ltd.’s stake in the mine.

Teck announced last year that it would sell its 21.3 per cent stake in Fort Hills to Suncor Energy Inc., the third partner in the project, for about $1 billion.

However, TotalEnergies EP Canada says it has exercised its pre-emption right to acquire an additional 6.65 per cent in the project from Teck for $312 million.

The deal brings the company’s stake in Fort Hills to 31.23 per cent. Suncor will own the rest.

French company TotalEnergies announced in September 2022 its plan to exit the Canadian oilsands by spinning off TotalEnergies EP Canada in 2023.

It says the acquisition of an additional interest in Fort Hills helps build TotalEnergies EP Canada for the future.

This report by The Canadian Press was first published Jan. 27, 2023.

Companies in this story: (TSX:TECK.B, TSX:SU)

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