Alberta winds back oil limits, Goldcorp CEO to depart post-merger, and more top news

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Oil production limits announced by Alberta Premier Rachel Notley in December are being wound back following warnings from producers that the measure would lead to job losses. Alberta cut production in January by 325,000 barrels a day, but on Wednesday announced that production in February and March would increase by 75,000 barrels a day. The curtailment policy affects 28 producers. The production cuts were intended to address persistently low crude prices. ? Here’s what people are saying.

Goldcorp chief executive David Garofalo will step down from the Vancouver-based company once it completes its merger with Colorado-based Newmont Mining Corp. The US$10 billion merger — announced January 14 — will create the world’s largest gold miner. The new company, Newmont Goldcorp, will be run by Newmont CEO Gary Goldberg. Garofalo’s  severance package should top $10 million, according to The Globe and Mail, thanks to Goldcorp stock awards. ? Here’s what people are saying.

Facebook has posted a record quarterly profit, showing that despite recent controversies, advertisers continue to be drawn to the social media giant. CEO Mark Zuckerberg used the fourth-quarter earnings announcement to say the company has turned a corner and is building new products in 2019. Over the past 18 months “building new experiences wasn’t a priority,” he said. Facebook’s stock rose nearly 12% to about $168 in after-hours trading.? Here’s what people are saying.

Boeing hit $100 billion annual revenue, delivering 806 planes in 2018, and expecting to deliver nearly 900 in 2019. Despite supply chain delays for 737 Max model engines and U.S.-China trade tensions, the plane maker expects a jump in deliveries of its 787 and 737 models this year. Boeing is expected to make a decision this quarter on whether to begin building an all-new 797 model aircraft, which would be smaller than its 787 wide-body jet.? Here’s what people are saying.

Host network CBS is charging a record $5.25 million for a 30-second ad during this year's Super Bowl. Last year advertisers spent $408 million on in-game Super Bowl air time, says The Wall Street Journal — not counting the $1-5 million extra for production costs per ad. About 100 million people are expected to watch the Super Bowl this year, which takes place in Atlanta. Automotive companies and alcoholic beverages were the biggest ad spenders this year. ? Here’s what people are saying.

Idea of the Day: The success of any company is inextricably linked to the sustainability of the world around us, says Laxman Narasimhan, CEO of PepsiCo Latin America and Europe Sub-Saharan Africa.

“The private sector has a responsibility to act and our experience shows that the effort is more than worth it.”

What's your take on today’s stories? Share your thoughts in the comments.  

— Carmel Melouney  and Jessica Hartogs