OTTAWA, Sept 22 (Reuters) – The Canadian government is
looking at extending the insurance burden for crude-by-rail
disasters beyond just railways and is weighing the idea of
special fund similar to one once set up for maritime oil spills,
a government official said.
The potential policy move comes over a year after a runaway
oil train exploded last July in Lac-Mégantic, Quebec, leveling
the heart of the town and killing 47 people. The cleanup and
reconstruction bill, now being covered by governments, is
expected to be at least C$400 million ($360 million).
OTTAWA/LONDON, Sept 18 (Reuters) – Canada, one of the
harshest critics of Russia’s involvement in Ukraine, this week
quietly cancelled sanctions against Expobank and RosEnergoBank,
two small Russian banks on which it imposed the measures earlier
The cancellations were put into effect at the same time as
new sanctions were announced by Foreign Affairs Minister John
Baird on Tuesday, including adding Russia’s Sberbank
to the list, but his news release made no mention of lifting the
measures against Expobank and RosEnergoBank.
OTTAWA (Reuters) – Canada has finally ratified a foreign investment protection agreement with China after a two-year delay in a step that may help ease tensions between the two countries and smooth the way for a possible visit to China by Prime Minister Stephen Harper.
International Trade Minister Ed Fast announced the ratification on Friday and said the agreement, designed to give investors greater legal certainty, would come into effect on Oct. 1. It was signed in September 2012.
OTTAWA (Reuters) – Canadian politicians who almost saw their country torn apart by an independence referendum in 1995 say pro-union British leaders have been slow to learn lessons from that campaign but can still take steps to win the vote Scotland will hold on Sept. 18.
In a campaign with striking similarities to the Scottish vote, the predominantly French-speaking province of Quebec came within a whisker of deciding to split up Canada in the 1995 referendum, which saw support for separatism spike in the final week.
OTTAWA, Sept 12 (Reuters) – Canada’s closely watched ratio
of household debt to income rebounded to 163.6 percent in the
second quarter from 163.1 percent in the first, following a
pattern which typically sees a second-quarter rise, Statistics
Canada indicated on Friday.
The ratio, which is not seasonally adjusted, typically
declines in the first quarter as households pay off Christmas
purchases and hold off buying homes till the spring and summer;
it therefore usually goes up in the second quarter.
OTTAWA, Sept 11 (Reuters) – Canadian Finance Minister Joe
Oliver on Thursday will announce a rebate for small businesses
on their employment insurance premiums in an effort to boost
hiring, a government official said.
Employment insurance premiums will be frozen until 2017, at
which time they will be cut for everybody, but small businesses
will get a “very significant rebate” on the premiums they pay,
effective Jan. 1, 2015, said the official, speaking on condition
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.
OTTAWA/WASHINGTON (Reuters) – Canada is likely to choose between two major U.S. firms when it buys a new fleet of jet fighters, excluding two European competitors, according to a source with direct knowledge of the matter.
The source, who spoke on the condition of anonymity, said Lockheed Martin Corp’s F-35 stealth fighter and Boeing Co’s F-18 E/F Super Hornet were deemed more suitable for the variety of tasks the military has laid out.
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.
OTTAWA, Aug 29 (Reuters) – Strong consumer spending and a
jump in exports helped the Canadian economy bounce back from a
weather-restrained first quarter, with annualized growth of 3.1
percent in the second quarter after a downwardly revised 0.9
percent in the first.
The Statistics Canada data on Friday showed gross domestic
product growing at its fastest pace since the third quarter of
2011, beating the Bank of Canada’s July forecast of 2.5 percent
and exceeding market expectations of 2.7 percent.