OTTAWA, Dec 13 (Reuters) – The ratio of Canadian household
debt to income edged up to a record high in the third quarter
but the pace of growth almost halved, which might calm
policymakers fretting about high personal debt levels.
The ratio hit 163.7 percent in the third quarter from 163.1
percent in the second quarter, Statistics Canada said on Friday.
The ratio increased by 0.34 percent from the second quarter
after advancing by 0.65 percent in the second quarter over the
OTTAWA, Dec 11 (Reuters) – Canada’s postal service will
phase out urban home delivery within five years and hike the
cost of postage stamps to try to stem soaring losses, the post
office said on Wednesday.
Canada Post, like the U.S. Postal Service, is suffering as
customers switch to digital communications. In August it said it
was on track to run short of cash by the middle of 2014 unless
major changes were made.
OTTAWA, Dec 6 (Reuters) – Canada added 21,600 jobs in
November, the third consecutive month of modest gains, and the
unemployment rate stayed at a nearly five-year low of 6.9
percent, Statistics Canada said on Friday.
The increase, greater than the 12,000 new jobs predicted by
market analysts, is unlikely to put pressure on the Bank of
Canada to raise rates.
OTTAWA, Dec 4 (Reuters) – Canada unexpectedly posted its
first trade surplus in 22 months in October but the surprise
news was less upbeat than it looked at first, given that both
imports and exports fell.
Statistics Canada said on Wednesday the October surplus was
C$75 million ($70.1 million), the first since the C$2.43 billion
posted in December 2011. Analysts had been expecting a shortfall
of C$730 million.
OTTAWA, Nov 28 (Reuters) – Canada is not ready to unveil
already long-delayed rules on curbing greenhouse gas emissions
from the Alberta oil sands, the environment minister said on
Thursday in comments that could boost U.S. resistance to the
proposed Keystone XL pipeline.
The right-leaning Conservative government, which has close
ties to the energy-rich western province of Alberta, has
repeatedly delayed the release of proposed regulations to tackle
soaring emissions from the oil and gas sector.
OTTAWA, Nov 28 (Reuters) – Canada allowed the U.S. National
Security Agency to conduct widespread surveillance during the
2010 Group of 20 summit in Toronto, according to a Canadian
Broadcasting Corp report that cited documents from former NSA
contractor Edward Snowden.
The report is the latest potential embarrassment for the NSA
as a result of Snowden’s leaks. He has already revealed the
agency spied on close allies such as Germany and Brazil,
prompting heated diplomatic spats with Washington.
OTTAWA, Nov 26 (Reuters) – The government in Canada, where
47 people died in a tanker train disaster in July, is doing a
bad job of overseeing rail safety, an official watchdog said on
The damning report, from Auditor-General Michael Ferguson,
revealed a series of problems at the federal transport ministry,
which is supposed to check that the 31 railways it oversees have
effective safety management systems.
OTTAWA, Nov 26 (Reuters) – In the latest blow to Canada’s
crisis-hit military procurement process, the country’s official
spending watchdog said on Tuesday the government has
underestimated how much a multibillion-dollar naval shipbuilding
plan will cost.
As a result, said Auditor-General Michael Ferguson, Canada
would either have to make do with fewer ships or settle for
vessels with fewer capabilities than initially planned.
OTTAWA, Nov 26 (Reuters) – Lax controls by border agents and
police mean Canada is allowing dangerous people to enter the
country, posing a risk to security and safety, a report from an
official watchdog said on Tuesday.
The report by Canadian Auditor-General Michael Ferguson
could cause concern in the United States, where some officials
have expressed concern in the past that Canada could be the
launch pad for an attack on its southern neighbor.
OTTAWA, Nov 22 (Reuters) – Tame Canadian inflation figures
on Friday lent support to the central bank’s stance of keeping
interest rates ultra-low, but surprisingly upbeat retail sales
data signaled pockets of economic vitality.
Statistics Canada said annual inflation in October dipped
below the Bank of Canada’s target range, dropping to a
five-month low of 0.7 percent from 1.1 percent in September.
Analysts had expected a rate of 0.9 percent.