OTTAWA (Reuters) – The investor that has struck a tentative $4.7 billion deal to take smartphone maker BlackBerry Ltd private is aggressively touting his group’s Canadian status to avoid the government reviews of foreign takeovers that have plagued recent attempts to buy Canadian companies.
The $9 a share proposal, from an as-yet unidentified consortium led by Canadian investment guru Prem Watsa’s Fairfax Financial Holdings, was announced on Monday. That was the first working day after BlackBerry shares dived after the company warned of an almost billion-dollar quarterly loss and announced it was laying off more than a third of its workers.
OTTAWA, Sept 17 (Reuters) – Canadian manufacturing sales
jumped a much greater-than-expected 1.7 percent in July from
June, a sign the economy is recovering after disruptions caused
by floods in Alberta and a work stoppage in Quebec.
Analysts had predicted sales would rise 0.5 percent from
June. The month-on-month increase was the largest since the 3.5
percent leap in February, Statistics Canada said on Tuesday.
OTTAWA, Sept 13 (Reuters) – The ratio of household debt to
income in Canada hit a record high in the second quarter,
although the pace of growth slowed from the same period in 2012,
Statistics Canada said on Friday.
The federal government and the Bank of Canada have expressed
concern that Canadians are taking on too much debt – in
particular cheap mortgages – at a time when interest rates are
at near record lows. Officials fret that when rates go up
eventually, some consumers could find themselves in trouble.
OTTAWA (Reuters) – A runaway train that blew up in a Quebec town, killing 47 people, was hauling a more flammable, gasoline-like fuel than the crude oil it was supposed to be carrying, raising questions about how accurately dangerous goods are identified on North American railroads, Canadian investigators said on Wednesday.
In an update on its probe into the July 6 disaster, Canada’s Transportation Safety Board (TSB) urged U.S. and Canadian regulators to better document the transport of dangerous goods, and said it is also looking at the safety of the rail cars that are used to move oil. The TSB can recommend changes but not impose them.
OTTAWA (Reuters) – Canadian investigators probing a train disaster that killed 47 people in Lac-Megantic, Quebec, urged U.S. and Canadian regulators on Wednesday to review the processes for transporting or importing dangerous goods to ensure proper documentation.
The Transportation Safety Board (TSB), which does not have the power to impose changes, said in a release that test results showed the crude being transported in tank cars that crashed into Lac-Megantic were not accurately documented and had a lower flash point, explaining in part why it ignited so quickly.
The Canadian province of Quebec will not allow public servants to wear Muslim headscarves, Jewish skullcaps or other obvious religious symbols under a new charter unveiled on Tuesday that is designed to cement a secular society.
(Reuters) – The Canadian province of Quebec won’t let public servants wear Moslem headscarves, Jewish skullcaps or other obvious religious symbols under a new charter unveiled on Tuesday that is designed to cement a secular society.
The pro-independence government of the predominantly French-speaking province says its Charter of Quebec Values will help create a distinct identity for its 7.5 million people.
OTTAWA, Sept 9 (Reuters) – Canadian Finance Minister Jim
Flaherty canceled plans on Monday to increase a payroll tax in
a break for small businesses hurting from lingering economic
uncertainty, but the move is not expected to provide a big lift
to growth or jobs.
The employment insurance (EI) premium paid by both employers
and workers will be frozen at 2013 levels for 2014 and will not
be allowed to surpass that rate in 2015 and 2016, Flaherty said,
instead of rising every year as outlined in the government’s
OTTAWA, Sept 9 (Reuters) – Canada’s housing market, which
once caused concern about possible overheating, has evolved in a
satisfactory way, Finance Minister Jim Flaherty said on Monday.
Canada did not suffer a U.S.-style housing crash during the
world economic downturn. Though its housing market slowed in
2012 after new rules were put in place, the market has since
built up steam, prompting a debate as to whether it has managed
a soft landing or is due for a crash.
OTTAWA, Sept 4 (Reuters) – Canada’s trade deficit more than doubled to C$931
million ($887 million) in July, reflecting deep-seated exporter challenges such
as uncertain foreign markets and a strong Canadian dollar.
The deficit, the 19th in a row, was far greater than the C$350 million
shortfall forecast by analysts. Statistics Canada, which issued the data on
Wednesday, revised June’s deficit to C$460 million from an initial C$469