Randall's Feed
Mar 21, 2013

Canada plans limits on the use of portfolio mortgage insurance

OTTAWA, March 21 (Reuters) – The Canadian government intends to introduce some limits on the use of mortgage insurance, a move it hopes will increase market discipline in residential lending and reduce taxpayer exposure to the housing sector.

The changes, announced in the federal budget on Thursday, will not have a direct effect on consumers wanting to take out mortgages. But it could cause banks to raise their rates or limit their lending.

Mar 19, 2013

Canada budget to focus on infrastructure, manufacturers, skills

OTTAWA, March 19 (Reuters) – Canada’s 2013-14 budget will
focus on infrastructure, helping manufacturers, and better
aligning training with the skills employers need, Finance
Minister Jim Flaherty said on Tuesday.

“As we put the final touches on this year’s plan, it is
important to note that jobs and the economy remain our
government’s top priority,” Flaherty wrote in a letter to the
caucus of the governing Conservative Party ahead of Thursday’s
budget release.

Mar 18, 2013

Canada cautious on liberalizing foreign investment

OTTAWA, March 18 (Reuters) – Canada will be cautious about
liberalizing foreign investment rules for sensitive economic
sectors because it’s very hard to reverse a decision once it’s
been made, Industry Minister Christian Paradis said in an
interview on Monday, meanwhile insisting that Canada remains
open to foreign investment.

“When you decide to go with these kinds of reforms, you
cannot ratchet down after that. You can ratchet up but not
down,” said Paradis, who is the government minister responsible
for foreign investment rules.

Mar 18, 2013

Canada cautious on foreign investment changes – minister

OTTAWA, March 18 (Reuters) – Canada remains open to foreign
investment but will be cautious about liberalizing rules for
sensitive sectors since such decisions tend to be irreversible,
Industry Minister Christian Paradis said on Monday.

“When you decide to go with these kinds of reforms, you
cannot ratchet down after that. You can ratchet up but not
down,” Paradis told Reuters in an interview in his office.

Mar 16, 2013
via FaithWorld

Now-secular Quebec symbolizes challenge facing Pope Francis

Photo

(Saint Vital Church in Lambton, Quebec, 1 April 2010/Fdesjardins)

Just 60 years ago the Roman Catholic Church held such sway in the Canadian province of Quebec that Protestant evangelists were jailed for refusing to stop preaching in the street.

A key challenge facing Pope Francis is the increasing secularization of Western society, and few places demonstrate this issue more than Quebec, where the Church’s influence is a shadow of the near-absolute power its held before the 1960s.

Mar 13, 2013

Air Canada wins extension on cap on special pension payments

OTTAWA, March 12 (Reuters) – Air Canada won a
seven-year extension on Tuesday of the cap on special payments
to erase its sizeable pension fund deficit, but will have to
make higher payments than it originally requested and abide by
certain conditions.

Finance Minister Jim Flaherty said the airline, which had
sought to limit its special payments to C$150 million ($145.6
million) a year for 10 years, will have to pay a
total of C$1.4 billion over seven years, or an average of C$200
million a year, with a minimum of C$150 million a year.

Mar 7, 2013

Canada sets Nov 19 auction for prime wireless spectrum

OTTAWA, March 7 (Reuters) – The Canadian government said on
Thursday it would start the process of auctioning prime wireless
spectrum on Nov 19, setting the date as it announced plans to
extend rules on roaming and cell-tower sharing to help stimulate
wireless competition.

It confirmed its intention, announced last March, to use the
auction of prime 700 MHz spectrum to assure at least four
competitors in each region of the country, limiting the
incumbents to three of four prime blocks in each area.

Mar 6, 2013

Bank of Canada softens stance, rate hike still on horizon

OTTAWA, March 6 (Reuters) – The Bank of Canada softened its
stance on the need for interest rate hikes on Wednesday, saying
it will likely hold its benchmark rate steady for “a period of
time” but that its next move would still probably be a hike
rather than a cut.

The central bank held its overnight lending target unchanged
at 1.0 percent, where it has been since September 2010. It had
been signaling for several months that it intends to raise the
rate, but in January said such a move was “less imminent” and on
Wednesday took another step back.

Mar 4, 2013
via FaithWorld

Canada’s Cardinal Marc Ouellet suggests others may be better for pope

Photo

(Pope Benedict XVI (R) is greeted by Cardinal Marc Ouellet, Archbishop of Quebec and Primate of Canada during a meeting with seminarians outside St. Pantaleon Church in Cologne, Germany, in this August 19, 2005 file photo. REUTERS/Pier Paolo Cito)

Canadian Cardinal Marc Ouellet, one of the leading candidates to succeed Pope Benedict, suggested in an interview with Canada’s national broadcaster that other candidates for pope might do a better job.

Mar 1, 2013

Canada may cut spending more to tackle deficit-Flaherty

OTTAWA, March 1 (Reuters) – Slow Canadian economic growth
means the government will have lower revenues than initially
forecast in drawing up the next budget and some ministries may
need to cut spending further, Finance Minister Jim Flaherty said
on Friday.

He said he continues to plan to eliminate the federal
government’s relatively small deficit by 2015 in spite of the
bigger obstacles.