Randall's Feed
Aug 21, 2013

Ottawa watching BlackBerry carefully, wishes firm well

OTTAWA (Reuters) – The Canadian government is watching smartphone maker BlackBerry Ltd carefully as it explores options including sale of the company but will not comment on its affairs, Industry Minister James Moore said on Wednesday.

Loss-making BlackBerry, which has bled market share to Apple’s iPhone and phones using Google’s Android operating system, said last week it was weighing options that could include an outright sale.

Aug 14, 2013

Birch Hill lobbies Canada on investment in wireless carriers

OTTAWA, Aug 14 (Reuters) – Birch Hill Equity Partners Inc, a
Canadian private equity fund, has registered to lobby Ottawa
over investment in wireless carriers, lending credence to the
idea it wants to buy two small wireless firms and elbow aside a
possible move into the Canadian market by Verizon Communications

Sources have tipped Birch Hill as a possible bidder for
controlling stakes in small players Wind Mobile and Mobilicity,
two newcomers in the market, with financial help from market
leader Rogers Communications Inc..

Jul 31, 2013

Canada GDP rises 0.2 pct in May, 2nd quarter looks soft

OTTAWA, July 31 (Reuters) – The Canadian economy grew by 0.2
percent in May from April, according to Statistics Canada data
on Wednesday, below forecasts and dampening expectations for the
second quarter.

The fifth consecutive monthly increase beat the 0.1 percent
rate registered in April, but the median forecast in a Reuters
survey was for 0.3 percent growth, ahead of what is expected to
be a poor June reading due to floods and a Quebec labor strike.

Jul 20, 2013

BoC’s Poloz: Not inclined to keep rates low for longer

MOSCOW, July 20 (Reuters) – All the talk of economic
weakness during the G20 talks in Moscow does not make the Bank
of Canada more inclined to keep rates low for longer than it had
otherwise planned, Governor Stephen Poloz said on Saturday.

Poloz also came to the defence of the U.S. Federal Reserve,
stating that Chairman Ben Bernanke’s description of plans
eventually to taper its bond buying was carefully communicated,
as asked for in Saturday’s communiqué of finance ministers and
central bankers of the Group of 20 leading economies.

Jul 17, 2013

Bank of Canada lays out conditions for steady rates

OTTAWA, July 17 (Reuters) – The Bank of Canada pledged on
Wednesday to keep its benchmark interest rate on hold as long as
there is economic slack, weak inflation and households are
managing debt carefully, but it also made it clear its next rate
move will likely be a hike.

The central bank’s first policy decision under new chief
Stephen Poloz, who took over in June, delivered roughly the same
message as those made under his predecessor, Mark Carney, over
the past year: that it is just a matter of time before borrowing
costs start to rise.

Jul 15, 2013

Canadian prime minister brings in new-look team after scandal

OTTAWA, July 15 (Reuters) – Canadian Prime Minister Stephen
Harper brought new, younger faces into his cabinet on Monday
after an expenses scandal dented his Conservative government’s
popularity, but he kept senior players such as Finance Minister
Jim Flaherty in place.

“He’s the best minister in the G7. We’ve got to keep that
going. The economy remains a priority,” said Harper spokeswoman
Julie Vaux of the decision to keep Flaherty, 63, in a job that
gives him a crucial role in managing the economy.

Jul 11, 2013

Deadly Quebec train crash to be fertile ground for lawsuits

OTTAWA/NEW YORK (Reuters) – As investigators try to piece together how a parked oil freight train broke free and demolished the heart of a small Quebec town last weekend, a barrage of litigation could soon be hitting everyone from the U.S. rail company to the Canadian government.

The key questions that will have to be answered in the coming weeks and months include whether any cases filed will be heard in Canada or the United States, which parties were most negligent and how liability for the crash is spread among them. Canadian authorities have launched an investigation and say they are looking into possible criminal negligence.

Jul 8, 2013

Bank of Canada survey finds businesses still wary

OTTAWA, July 8 (Reuters) – Canadian businesses expect higher
sales growth and more investment and employment in the year
ahead, helped by improving U.S. demand, but they remain wary
given the sluggish economy, a Bank of Canada poll showed on

The survey of senior managers, taken from May 21 to June 13,
showed the balance of opinion on past sales had turned modestly
positive and the future sales outlook was also somewhat
positive, though less so than a quarter earlier.

Jun 13, 2013

Cooling Canada’s housing market will take time -central bank

OTTAWA, June 13 (Reuters) – Canada’s housing market is
stabilizing after the heated conditions of the past several
years but progress will be slow, the Bank of Canada said on
Thursday as it also warned that record-high household debt
levels would persist through this year.

The bank added in a semi-annual report that the risks to the
economy posed by debt and the housing market remain unchanged at
“elevated”, even though the situation appears to have improved
over the past six months.

Jun 10, 2013

Barclays fires back, says hostility to banks unhealthy

MONTREAL (Reuters) – Barclays PLC (BARC.L: Quote, Profile, Research, Stock Buzz) Chairman David Walker hit back on Monday against what he said has become the “political and media industry” of badmouthing banks and bankers, and insisted on banks’ vital role in a free-market economy.

“The persistence of hostility to banks and bankers, much more marked in Europe than elsewhere, is in my view seriously unhealthy,” he told the economic Conference of Montreal.