Randall's Feed
Feb 11, 2014

Canadian budget boosts subsidies for auto industry

OTTAWA (Reuters) – The Canadian government sharply increased auto industry subsidies in its annual budget on Tuesday as it seeks to arrest the decline in the country’s share of North American car manufacturing.

The new money comes after the Chrysler Group asked for government assistance for its minivan plant in Windsor, Ontario, threatening to move if the government did not come up with major new support.

Feb 7, 2014

Bank of Canada says unworried by retail’s role in disinflation

OTTAWA, Feb 7 (Reuters) – The Bank of Canada signaled a
willingness on Friday to ignore the role intense retail
competition plays in keeping Canada’s inflation rate low, saying
that for monetary policy purposes this is “good disinflation”
and likely transitory.

Tiff Macklem said in his final scheduled public speech as
the central bank’s senior deputy governor that the bank believes
chronically weak inflation in Canada reflects both increased
competition by retailers and excess slack in the economy, with
only the latter considered “bad”.

Feb 7, 2014

Canada Jan. employment bounces, dampening rate cut talk

OTTAWA, Feb 7 (Reuters) – The Canadian economy in January
recouped 29,400 of the 44,000 jobs lost in December, and the
unemployment rate fell to 7.0 percent from 7.2 percent,
diminishing talk of a possible interest rate cut by the central
bank.

Statistics Canada said on Friday that full-time positions
rose by an estimated 50,500, the largest such increase since
May. However, 28,300 of the new jobs were in self-employment,
which usually is less secure and carries fewer benefits.

Feb 7, 2014

Canada Jan. employment bounces, dampening rate cut talk

OTTAWA, Feb 7 (Reuters) – The Canadian economy in January
recouped 29,400 of the 44,000 jobs lost in December, and the
unemployment rate fell to 7.0 percent from 7.2 percent,
diminishing talk of a possible interest rate cut by the central
bank.

Statistics Canada said on Friday that full-time positions
rose by an estimated 50,500, the largest such increase since
May. However, 28,300 of the new jobs were in self-employment,
which usually is less secure and carries fewer benefits.

Feb 6, 2014

Canada’s trade deficit biggest in a year in December

OTTAWA/TORONTO (Reuters) – Canada’s trade deficit jumped to the highest level in a year in December, a government report showed on Thursday, the latest in a series of disappointing economic figures that are expected to keep the Bank of Canada from raising interest rates this year.

Separate data that showed a rebound in the pace of purchasing activity in January offset some of the initial gloom generated by the trade report and helped the Canadian dollar regain some ground after an early fall.

Feb 6, 2014

Canada seeks to cut down on passports of convenience

OTTAWA (Reuters) – Canada will toughen citizenship rules to prevent foreigners from picking up Canadian passports of convenience without spending much time in the country, part of a sweeping package of reforms under legislation introduced on Thursday.

Canada remains one of countries most open to immigration and plans to attract about 250,000 a year, in part because it needs workers to make up for a low birth rate. But the new rules would try to prevent abuse of the citizenship process.

Feb 6, 2014

Record imports boost Canada Dec trade gap

OTTAWA, Feb 6 (Reuters) – Canada’s trade deficit in December
jumped to the highest level since November 2012, C$1.66 billion
($1.49 billion), almost C$1 billion more than expected, with
imports hitting a record level despite a drop in import volumes.

Statistics Canada on Thursday also made a major revision of
the November gap to C$1.53 billion from an originally reported
C$940 million. Analysts surveyed by Reuters had, on average,
expected the deficit to fall to C$700 million in December.

Feb 5, 2014

Canada revamps military procurement policy after controversies

OTTAWA, Feb 5 (Reuters) – Canada will change the way it buys
military equipment, the government said Wednesday, as it tries
to provide more benefits to local companies and include
safeguards to avoid fiascos such as its aborted plan to buy F-35
fighter jets.

“It’s no secret that businesses in Canada have been telling
us that defense procurement needs to be fixed,” Public Works
Diane Finley said in a speech to representatives of the defense
industry.

Feb 4, 2014

Canada senator, ex-senator charged with fraud on expenses

OTTAWA (Reuters) – Canadian police laid fraud charges against a senator and a former senator on Tuesday following an expenses scandal that has rocked the country’s unelected Senate and tainted the Conservative government of Prime Minister Stephen Harper.

The fraud and breach-of-trust charges were laid by the Royal Canadian Mounted Police against Mac Harb, a Liberal appointee who resigned from the Senate in August, and Patrick Brazeau, who was expelled from the Conservative caucus last year and then suspended from the Senate because of what were deemed to be inappropriate expense claims.

Feb 4, 2014

Canada senator, ex-senator charged with fraud in expenses scandal

OTTAWA, Feb 4 (Reuters) – Canadian police laid fraud charges
against a senator and a former senator on Tuesday following an
expenses scandal that has rocked the country’s unelected Senate
and tainted the Conservative government of Prime Minister
Stephen Harper.

The fraud and breach-of-trust charges were laid by the Royal
Canadian Mounted Police against Mac Harb, a Liberal appointee
who resigned from the Senate in August, and Patrick Brazeau, who
was expelled from the Conservative caucus last year and then
suspended from the Senate because of what were deemed to be
inappropriate expense claims.