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.
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
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.
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
“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.
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.
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.”
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
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.
OTTAWA, July 23 (Reuters) – Canada beefed up its safety
standards for railways on Tuesday, reacting to the Quebec train
disaster earlier this month, and said that two “qualified
persons” must run any train that hauls dangerous goods.
In an emergency directive, most of which takes effect
immediately, the Transport Department also said that trains
carrying dangerous goods must not be left unattended on a main
OTTAWA, July 23 (Reuters) – Canadian retail sales in May
jumped by 1.9 percent from April to hit a record high, a clear
sign that second-quarter growth could be significantly stronger
The advance – far greater than the 0.4 percent growth
predicted by analysts – was the largest rise since the 2.8
percent month-on-month leap recorded in March 2010, Statistics
Canada said on Tuesday.
OTTAWA, July 15 (Reuters) – Canadian Prime Minister Stephen
Harper brought new, younger faces into his cabinet on Monday
after an expenses scandal dented his Conservative government’s
popularity, but he kept senior players such as Finance Minister
Jim Flaherty in place.
“He’s the best minister in the G7. We’ve got to keep that
going. The economy remains a priority,” said Harper spokeswoman
Julie Vaux of the decision to keep Flaherty, 63, in a job that
gives him a crucial role in managing the economy.