Coastal GasLink, owned by TC Energy Corp., has been fined $340,000 by the B.C. Environmental Assessment Office for failing to implement effective erosion and sediment control measures during the construction of its pipeline. The fines were a result of inspections conducted earlier this year, before Coastal GasLink signed a compliance agreement to address these issues. Erosion and sediment control problems have persistently plagued the project, leading to a temporary halt in construction on a 20-kilometre section of the pipeline. Despite these setbacks, Coastal GasLink is nearly 95% complete and expected to be mechanically complete by the end of the year. The pipeline, spanning across northern British Columbia, will transport natural gas to the LNG Canada processing and export facility in Kitimat. In other news, the Canadian and U.S. markets experienced significant declines following the U.S. Federal Reserve’s recent rate decision, with losses in base metal and technology stocks contributing to the drop. IA Financial Corp. has also announced job cuts in its capital markets business, ending its institutional activities. The company will focus on other services such as financial advice and asset management. Furthermore, Ontario Premier Doug Ford has reversed his plan to develop the protected Greenbelt lands for housing and has announced that he will not make any future changes to the Greenbelt. Lastly, a report commissioned by the Alberta government suggests that if the province were to exit the Canada Pension Plan and establish its own pension plan, it would be entitled to over 50% of the CPP’s assets. Finance Minister Nate Horner believes that an Alberta Pension Plan would be more beneficial for the province, giving residents the choice to participate and potentially saving them billions in the first year.
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