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Ontario is urging the federal government to amend proposed electricity regulations after an analysis by the province’s system operator concluded the rules would mean $35 billion in additional costs by 2050. A new analysis by the Independent Electricity System Operator looking at upcoming regulations around restrictions on emissions from electricity generation found that Ontario would have to add twice as much new generation as it is already planning, which is “not feasible” in that time frame.But if the province were to somehow do so, building enough new electricity generation to make up for restrictions on natural gas would add $35 billion in costs by 2050, increasing residential bills by $132 to $168 per year starting in 2033, the IESO said.Ontario Energy Minister Stephen Lecce has writt...

The ongoing Canada Post strike is having a significant impact on Canadian businesses during the busy holiday shopping season, costing firms at least $76.6 million per day, according to the Canadian Federation of Independent Business. After 17 days of a nationwide Canada Post strike, small- and medium sized businesses have lost out on an estimated $765 million in earnings, CFIB said in a statement on Monday.If the strike continues, it will have cost the sector more than $1 billion by Wednesday, the group warned.More than 55,000 Canada Post workers went on strike on Nov. 15, halting mail and parcel services across the country. Some post offices have also been shuttered amid the job action.There are calls from some, including CFIB, urging the federal government to step in to end the labour di...

President Joe Biden pardoned his son, Hunter, sparing the younger Biden a possible prison sentence for federal felony gun and tax convictions and reversing his past promises not to use the extraordinary powers of the presidency for the benefit of his family. The Democratic president had previously said he would not pardon his son or commute his sentence after convictions in the two cases in Delaware and California. The move on Sunday night comes weeks before Hunter Biden was set to receive his punishment after his trial conviction in the gun case and guilty plea on tax charges, and less than two months before President-elect Donald Trump is set to return to the White House.It caps a long-running legal saga for the younger Biden, who publicly disclosed he was under federal investigation in ...