16-year-old boy fatally shot outside Scarborough plaza identified
Police have identified a teenage boy who was fatally shot in Scarborough’s L’Amoreaux neighbourhood on Saturday afternoon.
Total pay for BP's CEO more than doubled to US$12 million last year, the energy giant said Friday, as soaring energy costs allowed oil and gas companies to rake in record profits while squeezing households and small businesses.
London-based BP's disclosure came a day after rival Shell reported a similar multimillion-dollar pay package for its top executive on the heels of both companies posting their highest-ever annual earnings last month.
BP said in its annual report that CEO Bernard Looney was paid a total of 10 million pounds (US$12 million) in 2022, up from 4.5 million pounds the previous year. Looney's pay package includes a cash bonus of 2.4 million pounds and 6 million pounds in bonus company stock.
BP reported in February that its profit doubled to US$28 billion as Russia's invasion of Ukraine sent oil and gas prices soaring.
Fat profits at fossil fuel giants and big salaries for top executives have spurred demands for the companies to do more to shield consumers from high energy costs that have fuelled decades-high inflation and ratcheted up utility bills.
Activist groups such as Global Witness and some opposition lawmakers in Britain have called for expanding taxes on the windfall profits of energy companies and taxing bonuses.
It's a "twisted irony" that a wealthy minority got even richer "precisely because bills have been so unaffordable for the majority," said Jonathan Noronha-Gant, a senior campaigner at Global Witness.
Britain's Liberal Democrat party on Thursday called for a one-off "bonanza bonus" tax for energy company executives after Shell reported that then-CEO Ben van Beurden's pay package jumped by half in 2022, to nearly US$12 million, thanks to a record $40 billion annual profit.
The proposed tax is similar to a levy on bankers' bonuses that the U.K. government imposed in 2009-10 amid the fallout of the global financial crisis.
"It is outrageous that oil and gas bosses are raking in millions in bonuses while families struggle to heat their homes," party leader Ed Davey said. "Whether it is executive bonuses or soaring profits, the money being made out of Putin's illegal war should be helping struggling families not oil and gas barons."
The BP committee that sets executive pay said it has "carefully sought to moderate outcomes" and its decisions "reflect a sensible approach."
Police have identified a teenage boy who was fatally shot in Scarborough’s L’Amoreaux neighbourhood on Saturday afternoon.
Joe Alwyn is speaking publicly for the first time about the end of his years-long relationship with Taylor Swift.
210,000 pounds of food was delivered to the Ottawa Food Bank on Saturday, the largest donation in its 40-year history.
Part of Highway 400 was closed on Sunday after an Ontario Northland bus caught on fire.
Your father's diet before you were born could have played a role in your health, a new study has found.
Prince William on Sunday shared a photograph showing him as a child with his father, King Charles III, to mark Father’s Day in the United Kingdom this year.
Federal NDP Leader Jagmeet Singh says he is 'even more alarmed than before' after reading the un-redacted report alleging there are MPs and senators who are participating to some degree in foreign interference efforts.
As Canadians continue to struggle with the extremely high cost of buying a home in some of the country’s major urban centres, a new global report is underscoring just how expensive some of those markets are.
On a day that a local state of emergency was declared in Calgary, city residents answered a request from the mayor and emergency officials to use less water.
The thunderstorm that hit Ottawa Thursday evening was accompanied by heavy rain and lightning that struck a house in Orléans.
Canadian and U.S. ironworkers shook hands across the border as the Gordie Howe bridge deck officially becomes an international crossing.
Age may be just a number to George Steciuk, but it’s just one of many that add up to one inspirational athlete.
It has taken more than 100 years, but Almonte’s forgotten soldier, George B. Monterville has had his name etched back into history.
For Father's Day, CP24.com and CTVNewsToronto.ca reached out to local politicians, community advocates, and other prominent figures in the city to ask them to share what important lesson they have learned from their dads.
Fancy Pokket owner Mike Timani has decided to create a 220-foot long flat bread to celebrate its 35th anniversary.
If certain goals that are in the Paris Climate Accord aren't met, the existence of polar bears in the Hudson Bay may come to an end.
In an attempt to invite one of the most popular recording artists in the world to the land of living skies – the City of Swift Current has offered to rename itself in honour of Taylor Swift.
More than a dozen dogs arrived by Cargojet early Thursday morning to the People for Animal Wellbeing Shelter to find a permanent place to call home in New Brunswick.