OTTAWA, Dec 17 (Reuters) – Bank of Canada Governor Mark
Carney did not breach conflict of interest policy by vacationing
at the home of a Liberal Party lawmaker, his chief spokesman
said on Monday, following a report that the visit occurred while
the opposition party was seeking to recruit him.
Carney, who will become the Bank of England governor in
July, finds himself at the center of controversy after the Globe
and Mail newspaper reported new details on Saturday about the
Liberals’ efforts earlier this year to woo him into running for
leadership of the third-place political party.
OTTAWA, Dec 17 (Reuters) – The Bank of Canada’s general
counsel has determined that Governor Mark Carney did not engage
in a conflict of interest when he and his family stayed at the
home of Liberal legislator and finance critic Scott Brison,
Carney spokesman Jeremy Harrison said on Monday.
Harrison confirmed that Carney and his family stayed at a
home owned by Brison in Nova Scotia during part of their summer
vacation this year, news that was revealed in a Globe and Mail
story on Saturday on Liberal attempts to get Carney to run for
leader of the party. Harrison said Carney and Brison have been
personal friends for about a decade.
OTTAWA, Dec 14 (Reuters) – Canada’s Supreme Court on Friday
upheld an anti-terrorism law enacted after the Sept. 11, 2001,
attacks on the United States, ruling unanimously that those who
choose to engage in terrorism must “pay a very heavy price.”
The law’s constitutionality was challenged by Mohammad Momin
Khawaja, convicted in Canada of terrorism for involvement with a
British group that had plotted unsuccessfully to set off bombs
OTTAWA, Dec 13 (Reuters) – Canada’s broadcast regulator does
not have the authority to impose a value-for-signal plan under
which television broadcasters would charge cable and satellite
firms for their programming, the Supreme Court of Canada ruled
The industry regulator, the Canadian Radio-television and
Telecommunications Commission, had in 2010 accepted the
broadcasters’ arguments that local stations needed new money to
stay viable. Before imposing a fee system on cable companies, it
asked the courts to verify that it had the right to do so and
the Supreme Court ruled on Thursday that it did not.
OTTAWA, Dec 5 (Reuters) – Canada will announce eagerly
awaited guidelines to clarify its rules for approving foreign
investments “fairly soon,” Finance Minister Jim Flaherty said on
Wednesday, as suspense builds around the government’s reviews of
two bids for Canadian energy producers.
The Conservative government has promised for two months that
it would issue the guidelines soon and that it planned to do so
at about the same time as it announces its decisions on takeover
proposals by Chinese and Malaysian bidders.
OTTAWA, Dec 4 (Reuters) – The Bank of Canada held interest
rates steady on Tuesday and said it would likely need to hike
rates “over time”, repeating the formula it used in October
despite weaker-than-expected growth, soft inflation and worries
about the U.S. fiscal cliff.
“Over time, some modest withdrawal of monetary policy
stimulus will likely be required, consistent with achieving the
2 percent inflation target,” the bank said in a statement, using
language identical to its Oct. 23 rate announcement.
OTTAWA, Nov 30 (Reuters) – A Canadian cabinet figure known
to have reservations about CNOOC Ltd’s bid to buy
Nexen Inc on Friday underscored Prime Minister
Stephen Harper’s concerns about takeover bids by foreign
Immigration Minister Jason Kenney said Harper had stressed
the importance of preserving Canadian values, such as human
rights, in dealing with China. But Kenney, a Harper confidante,
conceded a foreign investment agreement that Ottawa recently
reached with China provided much-needed reciprocity.
OTTAWA, Nov 29 (Reuters) – A Malaysian minister flew to
Canada to discuss with federal officials the bid by Malaysian
state-owned oil company Petronas for Progress Energy
Resources Corp after Canada initially turned it down,
Canadian Industry Minister Christian Paradis said on Thursday.
Idris Jala, a minister without portfolio in the cabinet of
Malaysian Prime Minister Najib Razak, met Deputy Industry
Minister John Knubley and discussed the bid with Canadian
officials after Paradis’ rejection of it on Oct.
OTTAWA, Nov 28 (Reuters) – Canada said on Wednesday it would
decide soon on two big foreign takeover bids for domestic energy
companies, despite possible delays in approval by U.S.
“We intend obviously to take decisions on a couple of
particular matters along with some more general guidance to the
marketplace. We intend to do that in the near future and that’s
all I’ll say about that,” Prime Minister Stephen Harper said.
OTTAWA, Nov 27 (Reuters) – With deadlines fast approaching,
Canada is still weighing two proposed foreign takeovers of
domestic energy companies, but a top minister offered no clues
on Tuesday as to when or how the government would announce the
hotly debated decisions.
The government says it will unveil new policy guidelines on
foreign investment at about the same time it announces verdicts
on the proposed takeovers: A bid by China’s CNOOC Ltd
for Nexen Inc and a bid by Malaysia’s Petronas
for Progress Energy Resources Corp.