Randall's Feed
Jun 30, 2014

Tepid April economic growth could extend Bank of Canada caution

OTTAWA, June 30 (Reuters) – Lower oil and gas output caused
Canada’s economic growth to come in lower than expected at 0.1
percent in April, according to Statistics Canada data on Monday,
extending a tepid performance that economists said could
reinforce central bank caution.

It matched March’s rise and undershot market expectations of
0.2 percent growth. However, taken to a second decimal point,
growth was actually 0.14 percent. Excluding oil and gas
extraction, it was a more respectable 0.19 percent.

Jun 27, 2014

Canada court rules against Wal-Mart over Quebec store closure

OTTAWA/TORONTO, June 27 (Reuters) – Wal-Mart Stores Inc
violated Quebec’s labor code when it closed a store in
the province that had become one of the first in Canada to
successfully unionize, the Supreme Court of Canada ruled on
Friday.

The ruling was a rebuke to the world’s largest retailer,
though its impact on unionization efforts at other Quebec and
Canadian stores may be limited. The decision took issue with the
timing of the 2005 closure, but it did not address the company’s
right to shut operations.

Jun 26, 2014

Canada’s aboriginals score big win in land title case

OTTAWA, June 26 (Reuters) – Aboriginal peoples in the
province of British Columbia can stake a broad claim to their
traditional territories due to a landmark victory at the Supreme
Court of Canada, a decision that natural resource companies had
warned would create investor uncertainty.

Thursday’s ruling marked the first time the Supreme Court
has recognized aboriginal title to a specific piece of land, and
is expected to have predominant application in resource-rich
Pacific Coast province, where there are unresolved land claims.

Jun 20, 2014

Canada curbs use of temporary foreign workers by restaurants

OTTAWA, June 20 (Reuters) – Restaurants operated by
McDonald’s Corp and others in Canada will face tough
restrictions on bringing in temporary foreign workers under
reforms announced by the government on Friday to address an
outcry over perceived abuses of the system.

Employment Minister Jason Kenney introduced the changes
after news reports said that foreign workers had displaced
Canadians working at some McDonald’s outlets. The subsequent
backlash had spurred the government to suspend a program under
which restaurants could bring in any number of temporary foreign
workers.

Jun 20, 2014

Bank of Canada under pressure as inflation at 27-month high

OTTAWA, June 20 (Reuters) – The Bank of Canada came under
pressure on Friday to stop fretting about low inflation after
unexpectedly sharp price gains pushed the rate above the central
bank’s target, making it more likely the next move in interest
rates will be higher.

Statistics Canada reported the annual inflation rate hit a
27-month high of 2.3 percent in May from 2.0 percent in April.
Core inflation, which excludes some volatile items like
gasoline, rose to 1.7 percent, the highest since July 2012, from
1.4 percent in April.

Jun 20, 2014

Canada’s inflation hits 27-month high; central bank under pressure

OTTAWA, June 20 (Reuters) – Costlier energy unexpectedly
pushed Canada’s annual inflation rate to a 27-month high of 2.3
percent in May from 2.0 percent in April, while a rise in the
core rate also put pressure on the Bank of Canada to tone down
its low-inflation concerns.

Statistics Canada reported on Friday that core inflation
jumped to 1.7 percent, the highest since July 2012, from 1.4
percent in April. The median forecasts in a Reuters survey of
economists were for 2.1 percent inflation overall and 1.5
percent for core, which strips out volatile elements.

Jun 19, 2014

Canada household debt/income ratio continues to edge lower

OTTAWA, June 19 (Reuters) – The ratio of Canadian household
debt to income edged down further in the first quarter from the
record high it hit last year, buttressing policymakers’
expectations that a soft landing is in store for the housing
market and family indebtedness.

Statistics Canada reported on Thursday a ratio of 163.2
percent in the first quarter. The ratio reached a record high of
164.1 percent in the third quarter of last year, and dipped to
163.9 percent in the fourth quarter.

Jun 18, 2014

Pipeline go-ahead raises risks for Canada’s Conservatives

OTTAWA/VANCOUVER (Reuters) – Its decision to approve development of the controversial Northern Gateway oil pipeline could cost Canada’s governing Conservatives critical support in British Columbia, where they will need a strong showing in the 2015 election to secure another majority in Parliament.

Prime Minister Stephen Harper’s Conservatives have lots to lose in the Pacific Coast province, where they have 21 of its 36 seats in the House of Commons. As well as the seats they hold, they are banking on picking up some of six new seats, in Vancouver’s suburbs and elsewhere, that British Columbia will get for next year’s election.

Jun 18, 2014

Canada approves Enbridge pipeline to West Coast

VANCOUVER/OTTAWA, June 17 (Reuters) – The Canadian
government approved the construction of Enbridge Inc’s
Northern Gateway pipeline on Tuesday, setting the stage for a
barrage of lawsuits and demonstrations by environmental and
aboriginal groups opposed to the project.

Natural Resources Minister Greg Rickford announced the
decision in a statement that was widely expected. He said
approval of the proposed pipeline, which would link Alberta’s
oil sands with a Pacific port, was contingent on Enbridge
meeting more than 200 conditions set out by a regulatory panel.

Jun 16, 2014

Canada economists less worried by low inflation than central bank

OTTAWA, June 16 (Reuters) – Canadian economists are not too
concerned about low inflation, Finance Minister Joe Oliver said
after meeting several of them on Monday, sending a different
message than the one sounded recently by Bank of Canada Governor
Stephen Poloz.

Overall inflation rose to the central bank’s 2 percent
target in April, but Poloz said last week that underlying
inflation is still at a low 1.2 percent, which leaves Canada
“vulnerable to a downside shock at any time”.