Randall's Feed
Feb 19, 2014

Canada raises C$5.27 billion in wireless sale; Quebecor goes national

OTTAWA/TORONTO (Reuters) – Canadian telecom companies paid a record C$5.27 billion ($4.78 billion) in an auction to secure licenses for prime airwaves, the federal government said on Wednesday, as a new national challenger looks set to emerge from Quebec.

The biggest national players – Rogers Communications, BCE Inc’s Bell, and Telus Corp – grabbed the lion’s share of the 700 megahertz spectrum, on which they plan to build more powerful wireless network.

Feb 14, 2014

Canada plans 2015 tax breaks but mum on income-split pledge

OTTAWA/NORTH VANCOUVER, British Columbia, Feb 14 (Reuters) -
C anada’s Conservative government will deliver tax relief to
families when it balances the budget in 2015, Finance Minister
Jim Flaherty said on Friday, but he wouldn’t confirm whether it
will stick to a controversial pledge on “income splitting”.

The Conservatives pledged in 2011 that once the budget is
balanced they would let couples with children reduce taxes by
sharing their income for tax purposes, similar to U.S. rules
whereby couples get a lower tax bracket when they file jointly.

Feb 14, 2014

General Dynamics Canada wins Saudi deal worth up to $13 billion

OTTAWA/WASHINGTON (Reuters) – U.S. weapons maker General Dynamics Corp (GD.N: Quote, Profile, Research, Stock Buzz) has won a contract worth up to $13 billion for its Canadian division to build light-armored vehicles for Saudi Arabia, in what Ottawa said was the largest advanced manufacturing export win in Canadian history.

General Dynamics said on Friday the 14-year contract for military and commercial vehicles and training and support services has a value of $10 billion, but could be worth about $13 billion if all options were exercised.

Feb 14, 2014

Aerospace drop pulls down Canada factory sales in December

OTTAWA, Feb 14 (Reuters) – A decline in the volatile
aerospace sector led Canadian factory sales to a 0.9 percent
fall in value in December from the month before, lending weight
to the view that the economy may have shrunk modestly in the
last month of the year.

The Statistics Canada data on Friday also showed that the
volume of sales fell by an even greater 1.9 percent in December,
the biggest fall in 12 months.

Feb 12, 2014

Canada signals may help Chrysler on Ontario plant investment

OTTAWA/TORONTO, Feb 12 (Reuters) – Finance Minister Jim
Flaherty, freshly armed with C$500 million ($455 million) to
subsidize Canada’s auto sector, signaled on Wednesday the
federal government might offer substantial cash to keep Chrysler
Group from closing an Ontario minivan plant.

Fiat SpA Chief Executive Sergio Marchionne said
last month that Chrysler could scrap an upgrade of the Windsor,
Ontario, plant and move production and jobs elsewhere if
government fails to come through with financial incentives.

Feb 11, 2014

Canadian budget boosts subsidies for auto industry

OTTAWA (Reuters) – The Canadian government sharply increased auto industry subsidies in its annual budget on Tuesday as it seeks to arrest the decline in the country’s share of North American car manufacturing.

The new money comes after the Chrysler Group asked for government assistance for its minivan plant in Windsor, Ontario, threatening to move if the government did not come up with major new support.

Feb 7, 2014

Bank of Canada says unworried by retail’s role in disinflation

OTTAWA, Feb 7 (Reuters) – The Bank of Canada signaled a
willingness on Friday to ignore the role intense retail
competition plays in keeping Canada’s inflation rate low, saying
that for monetary policy purposes this is “good disinflation”
and likely transitory.

Tiff Macklem said in his final scheduled public speech as
the central bank’s senior deputy governor that the bank believes
chronically weak inflation in Canada reflects both increased
competition by retailers and excess slack in the economy, with
only the latter considered “bad”.

Feb 7, 2014

Canada Jan. employment bounces, dampening rate cut talk

OTTAWA, Feb 7 (Reuters) – The Canadian economy in January
recouped 29,400 of the 44,000 jobs lost in December, and the
unemployment rate fell to 7.0 percent from 7.2 percent,
diminishing talk of a possible interest rate cut by the central
bank.

Statistics Canada said on Friday that full-time positions
rose by an estimated 50,500, the largest such increase since
May. However, 28,300 of the new jobs were in self-employment,
which usually is less secure and carries fewer benefits.

Feb 7, 2014

Canada Jan. employment bounces, dampening rate cut talk

OTTAWA, Feb 7 (Reuters) – The Canadian economy in January
recouped 29,400 of the 44,000 jobs lost in December, and the
unemployment rate fell to 7.0 percent from 7.2 percent,
diminishing talk of a possible interest rate cut by the central
bank.

Statistics Canada said on Friday that full-time positions
rose by an estimated 50,500, the largest such increase since
May. However, 28,300 of the new jobs were in self-employment,
which usually is less secure and carries fewer benefits.

Feb 6, 2014

Canada’s trade deficit biggest in a year in December

OTTAWA/TORONTO (Reuters) – Canada’s trade deficit jumped to the highest level in a year in December, a government report showed on Thursday, the latest in a series of disappointing economic figures that are expected to keep the Bank of Canada from raising interest rates this year.

Separate data that showed a rebound in the pace of purchasing activity in January offset some of the initial gloom generated by the trade report and helped the Canadian dollar regain some ground after an early fall.