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Sep 5, 2014

Gloomy Canada jobs report shows economy still not at full speed

OTTAWA, Sept 5 (Reuters) – The Canadian economy unexpectedly
lost 11,000 jobs in August from July, and the number of
private-sector employees fell sharply in another sign that the
economy is still struggling to regain full speed.

Statistics Canada said on Friday that the unemployment rate
had remained at 7.0 percent. Analysts had forecast that 10,000
positions would be added after the gain of 41,700 jobs in July.

Sep 4, 2014

Canada July trade surplus jumps to near six-year high

OTTAWA, Sept 4 (Reuters) – Canada’s trade surplus in July
jumped to a near six-year high of C$2.58 billion ($2.37 billion)
in another sign the long-battered export sector could be on its
way to a lasting recovery.

Market analysts had expected a surplus of C$1.20 billion.
Statistics Canada, which released the data on Thursday, revised
June’s surplus down to C$1.83 billion from an initial C$1.86
billion.

Sep 3, 2014

Bank of Canada stays neutral, frets over household debt

OTTAWA, Sept 3 (Reuters) – The Bank of Canada reiterated its
explicitly neutral stance and kept its overnight interest rate
at 1 percent on Wednesday, but highlighted new concern over the
overstretched household sector.

“Overall, the risks to the outlook for inflation remain
roughly balanced, while the risks associated with household
imbalances have not diminished,” it stated.

Sep 2, 2014

Canada, China quietly hold top-level meeting on strained ties

OTTAWA (Reuters) – Senior officials from Canada and China met quietly in Ottawa last week to discuss relations that have deteriorated so badly that they could threaten Prime Minister Stephen Harper’s planned visit to China in November.

Canada sees China as an important trading partner and in early 2012 Harper went to Beijing to pitch the idea of Canada as a potential oil supplier. The closeness of the ties are in question after two high-profile incidents.

Aug 28, 2014

Canada blocking NATO pledge for more defence spending -sources

OTTAWA (Reuters) – NATO wants all 28 member states at a summit next week to commit to boost their defence spending, but Canada opposes the move, straining ties inside the alliance, two sources told Reuters on Thursday.

The sources, both familiar with negotiations on the issue, said NATO officials were pushing for a joint pledge to increase spending to two percent of gross domestic product within 10 years. The NATO summit will be held in Wales on Sept. 4-5.

Aug 15, 2014

Healthy Canada jobs, factory data spur optimism on economy

OTTAWA, Aug 15 (Reuters) – Canada reported unexpectedly
healthy jobs and manufacturing sales data on Friday, boosting
market optimism that the sluggish economy might finally be
starting to accelerate.

Despite a recovery in the United States, Canada’s main
trading partner, the Canadian economy has been creating few jobs
and has been operating well below full capacity.

Aug 15, 2014

Canada created revised 41,700 jobs in July, much more than expected

OTTAWA, Aug 15 (Reuters) – Canada created 41,700 jobs in
July, considerably more than expected, and the unemployment rate
dropped to 7.0 percent from 7.1 percent in June, according to
revised data Friday from Statistics Canada.

Market analysts had forecast a gain of 20,000 jobs.

Statscan initially reported a week ago that just 200 new
positions were created in July, but withdrew the data, citing
processing errors.

Aug 12, 2014

Canada finance minister says wants tax cuts in next budget

WAKEFIELD, Quebec, Aug 12 (Reuters) – Canadian Finance
Minister Joe Oliver said on Tuesday he wanted to cut personal
taxes further in next year’s budget, while also expressing
concern about what he called a still fragile global economy.

The Conservative government, which relied on large budget
deficits to help Canada avoid the worst of the recession,
projects it will have a surplus of C$6.4 billion in the 2015/16
fiscal year.

Aug 11, 2014

Top Canada finance ministry official Boivin to join BlackRock

OTTAWA, Aug 11 (Reuters) – Top Canadian finance ministry
official Jean Boivin will join the London office of BlackRock
Inc, the world’s largest money manager, the firm said on
Monday.

Boivin, seen as a contender to head the Bank of Canada one
day, is the second most powerful official at the ministry.
Reuters broke the news last week that he would be leaving his
post on Aug. 29.

Aug 8, 2014

Top Canada finance official quits for private-sector job

OTTAWA, Aug 8 (Reuters) – Jean Boivin, the Canadian Finance
Ministry’s second most powerful official and a man seen as a
potential candidate to head the Bank of Canada one day, is
leaving to take a job in the private sector, the ministry said
on Friday.

Boivin will leave on Aug. 29, a spokesman said, saying he
had no further details. Two-well placed sources earlier told
Reuters that ministry staff were told last week about Boivin’s
impending departure.

    • 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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