TransCanada Corp., Canada's second-largest pipeline company, reported a quarterly loss as it recorded a CA$2.9 billion after-tax impairment charge related to the proposed Keystone XL pipeline.
The company reported a net loss attributable to shareholders of CA$2.46 billion (US$1.76 billion), or CA$3.47 per share, in the fourth quarter ended Dec. 31, 2015, from a profit of CA$458 million, or 65 Canadian cents per share, a year earlier.
U.S. President Barack Obama rejected the proposed Keystone XL oil pipeline from Canada in November 2015, in a victory for environmentalists who campaigned against the project for more than seven years. ($1 = 1.3962 Canadian dollars)
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