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Sep 9, 2013

Flaherty comfortable with Canada’s housing situation, his health

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.

Sep 4, 2013

Canada July trade deficit jumps as imports climb, exports fall

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
million.

Aug 28, 2013

Canada seeks plan from postal service to stem big losses

OTTAWA, Aug 28 (Reuters) – The large losses being racking up
by Canada’s postal service are of great concern to the
government and it wants to see Canada Post’s plans for stemming
them, an official said on Wednesday.

Canada Post reported a loss on Tuesday of C$104 million ($99
million) for the second quarter of 2013 and said it was on track
to run short of cash by the middle of next year.

Aug 28, 2013

Canada worried by postal service losses, asks for recovery plan

OTTAWA, Aug 28 (Reuters) – The large losses being racking up
by Canada’s postal service are of great concern to the
government and it wants to see Canada Post’s plans for stemming
them, an official said on Wednesday.

Canada Post reported a loss on Tuesday of C$104 million ($99
million) for the second quarter of 2013 and said it was on track
to run short of cash by the middle of next year.

Aug 23, 2013

Canada’s inflation rate edges up, little rate pressure seen

OTTAWA, Aug 23 (Reuters) – Canada’s annual inflation rate
edged up to 1.3 percent in July from 1.2 percent in June,
underlining how little pressure the Bank of Canada is under to
increase rates, Statistics Canada data indicated on Friday.

Analysts had expected the rate to hit 1.4 percent. Although
the July rate was the highest since the 1.3 percent recorded in
July 2012, it was well below the Bank of Canada’s 2.0 percent
target.

Aug 22, 2013

Canada Senate urges minimum insurance levels for railways

OTTAWA, Aug 22 (Reuters) – Canada should force railways to
take out enough insurance to ensure they can cover damage caused
by major incidents, the Canadian Senate said on Thursday in a
report issued after last month’s train disaster in Quebec, which
killed 47 people.

The recommendation was one of 13 in a report by the Senate’s
energy, environment and natural resources committee on
transporting oil and gas by pipeline, rail and tanker. The
Senate is Canada’s unelected upper house of Parliament.

Aug 21, 2013

Canada’s Flaherty says gov’t on track to balance books by 2015-16

WAKEFIELD, Quebec, Aug 21 (Reuters) – Canada is on track to
balance its budget by 2015-16 and the Conservative government
anticipates no major shift in policy or new spending cuts to
achieve that goal, Finance Minister Jim Flaherty said on
Wednesday.

“We will do what it takes to balance the budget in 2015-16,
not for the sake of balancing the budget, but to put Canada in a
position of strength so we can react adequately to any sort of
economic pressure that comes from outside our country,” Flaherty
said on the sidelines of a policy retreat in Wakefield, Quebec.

Aug 20, 2013

Senator Cruz may have to wait eight months to stop being Canadian

OTTAWA (Reuters) – Senator Ted Cruz, who recently discovered that he is likely a Canadian, must win security clearance from Canada’s spy agency, fill in a four-page form and then wait up to eight months to sever his ties to America’s northern neighbor.

Cruz, a Texas Republican who has fueled speculation that he may run for president in 2016, was born in Canada, which would in virtually all cases automatically entitle him to citizenship. On Monday he offered to renounce that citizenship in the event that he has it.

Aug 13, 2013

Canada to shut down rail firm involved in Quebec town disaster

OTTAWA (Reuters) – Canada will shut down the rail operator whose tanker train blew up in a Quebec town last month, killing 47 people, because the firm does not have enough insurance to pay clean-up costs and other damages, a government regulator said on Tuesday.

The Canadian Transportation Agency said it would suspend the operating license of Montreal, Maine and Atlantic Railway (MMA) and its Canadian subsidiary from August 20, to give the two firms “time to arrange for the orderly cessation of their operations in Canada.”

Aug 6, 2013

Canada June trade gap shrinks, exporters still struggling

OTTAWA, Aug 6 (Reuters) – Canada’s trade deficit in June
shrank as exports grew more than twice as fast as imports but
the shortfall for the first half of the year was the second
highest on record, reflecting the serious challenges exporters
face.

The trade deficit – the 18th in a row – dropped to C$469
million ($451 million) from a revised C$781 million in May,
Statistics Canada said on Tuesday. Analysts had predicted a
deficit of C$500 million.

    • About David

      "I have been the National Political Correspondent in Canada for Reuters since 1999, focussing on politics, defence (in particular Canada's role in the Afghan War) and the environment. I won the award for Reuters Treasury scoop in 2009 for my work at the G20 summit. From 1995 to 1999 I worked in London, mainly covering foreign affairs, and from 1989 to 1995 I was stationed in Moscow where I covered the collapse of the Soviet Union and the many conflicts this helped trigger."
      Joined Reuters:
      1987
      Languages:
      English, French, Russian
      Awards:
      Treasury scoop of the year 2009
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