TORONTO, Jan 23 (Reuters) – Canada’s growth outlook dimmed
over the last quarter, a Reuters poll showed on Wednesday, with
soft export demand, a strong currency, and a cooling housing
market combining to weaken economic expectations.
Economists now expect Canada’s economy to expand just 1.8
percent this year, down from the 2.0 percent rate predicted in
the previous poll published Oct. 11.
TORONTO, Dec 17 (Reuters) – Financial investment company
Urbana Corp said on Monday it is seeking to acquire up
to 49 percent of CNSX Markets Inc, the operator of Canadian
National Stock Exchange.
Urbana said on Monday it bought a 20 percent stake in CNSX
for C$1.6 million ($1.63 million).
TORONTO (Reuters) – The Bank of Canada’s Mark Carney mused about priorities in reply to a question about the lessons he would take to his next job in London, but said he would only discuss Britain’s needs when he talks to a House of Commons committee next year.
Asked about lessons he would take to his next position, as the head of the Bank of England, Carney stressed the importance of speedy, transparent action to address potential flashpoints.
TORONTO, Dec 11 (Reuters) – The Bank of Canada may need to
raise interest rates higher than would be normal in order to
curb household debt, although its talk of higher rates has
already encouraged more prudent borrowing, Governor Mark Carney
said on Tuesday.
In his first speech since being appointed as the next Bank
of England governor, Carney repeated the bank’s mildly hawkish
line on the likelihood of a modest withdrawal of stimulus
measures. That stance, maintained since April, has made Canada’s
central bank an outlier among the central banks of developed
TORONTO, Dec 11 (Reuters) – Canadian employers have a
brighter outlook for adding jobs in the new year, with
transportation and public utility companies the most bullish,
but a cautious mood on the economy still prevails, according to
a survey released on Tuesday.
In a quarterly survey of more than 1,900 Canadian employers
by staffing firm Manpower Inc, a net 13 percent expected
to add new jobs in the first quarter of 2013.
TORONTO, Dec 6 (Reuters) – Purchasing activity in Canada
unexpectedly fell in November, according to Ivey Purchasing
Managers Index data released on Thursday, the latest report to
suggest economic weakness has carried into the fourth quarter.
The seasonally adjusted index fell to 47.5 in November from
58.3 in October. Analysts polled by Reuters had expected an
adjusted reading of 58.6.
TORONTO, Dec 3 (Reuters) – Canadian regulators said on
Monday Ernst & Young had conducted improper audits of
Sino-Forest Corp in the years before fraud allegations brought
down its client, and the accounting firm said it reached a
settlement in a class-action suit by Sino shareholders.
Dimitri Lascaris, a partner at Siskinds LLP and co-lead
counsel for the investor class action, said he believes the
auditor settlement, at C$117 million ($118 million), was the
biggest of its kind in Canadian history.
TORONTO, Nov 16 (Reuters) – The Canadian dollar notched a
modest gain against the U.S. currency on Friday after touching a
3-1/2-month low earlier in the session, bolstered by a White
House meeting on the “fiscal cliff” that congressional leaders
said was constructive.
Democrats and Republicans emerged from a meeting with
President Barack Obama on Friday vowing to find common ground on
taxes and spending that would allow them to head off a looming
“fiscal cliff” that could push the economy back into
TORONTO, Nov 16 (Reuters) – The Canadian dollar pared losses
against the U.S. dollar on Friday after touching a 3/12 month
low late in the morning, following a White House meeting on the
“fiscal cliff” that congressional leaders said was constructive.
Top Republicans emerged from a meeting at the White House on
Friday saying they are prepared to agree to additional revenue
to avert harsh automatic year-end tax increases and spending
cuts, as long as there are also reductions in spending.
TORONTO, Nov 16 (Reuters) – The Canadian dollar strengthened
to near parity with the U.S. dollar on Friday ahead of a meeting
between U.S. President Barack Obama and congressional leaders to
discuss the U.S. fiscal crisis.
Market sentiment was slightly more hopeful that the United
States would be able to defuse the “fiscal cliff” crisis
following a Wall Street Journal report that said White House
officials were in advanced internal discussions that could
indicate increased flexibility on reaching a deal with