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Recession confirmed as Canada’s GDP shrank in 2nd quarter
Recession confirmed as Canada’s GDP shrank in 2nd quarter Canada’s economy expanded in June but declined by 0.1 per cent for the second quarter as a whole, meeting the bar of what is legally defined as a recession. The economy expanded by 0.5 per cent in June, Statistics Canada said. But that slight monthly uptick wasn’t enough […]
GDP figures from Statistics Canada expected to show second-quarter contraction
GDP figures from Statistics Canada expected to show second-quarter contraction Lower loonie expected to boost economy in third quarter Economists say data out this week is likely to show that Canada slipped into a technical recession in the second quarter, but the contraction should be short-lived. “A number of positive elements are coming through,” said TD […]
Alberta has lost 35,000 oilpatch jobs, petroleum producers say
Alberta has lost 35,000 oilpatch jobs, petroleum producers say With cuts more likely to come in the fall. Less than a year ago, Alberta was still complaining of a labour shortage. Schools couldn’t find bus drivers, job vacancy rates were the highest in the country. It’s no secret that the situation has changed. The Canadian Association of […]
2 days of gains push oil up 17%, TSX up 3.6%
2 days of gains push oil up 17%, TSX up 3.6% Global stocks calmer after a week of volatility set off by doubts about China’s growth After a week with wild swings in the values of stocks and commodities, oil futures ended up gaining 17 per cent in two days and the TSX was up […]
RCMP planning mass arrests at pipeline protest camp, northern B.C chiefs fear
RCMP planning mass arrests at pipeline protest camp, northern B.C chiefs fear RCMP say they are just working to keep the peace A dispute over energy projects and aboriginal rights is heating up at a pipeline protest camp in northern B.C. where First Nations leaders fear police are planning mass arrests. Since 2009, Wet’suwet’en people, […]
Canada’s economy: 5 reasons not to panic
Canada’s economy: 5 reasons not to panic Cheap gas, solid hiring and a strong housing market help Canadians weather the financial storm A recent spate of frightening economic headlines paints a dire picture of the economy, but an examination of some basic gauges of Canadians’ financial health demonstrates it’s not all doom and gloom. TSX, Dow charge higher as […]
Federal election campaign’s phoney debate over deficits: Chris Hall
Federal election campaign’s phoney debate over deficits: Chris Hall Answers on how parties plan to pay for campaign promises may not come for weeks yet This federal election is supposed to be about the economy, an opportunity for voters to determine which party is offering the best plan to create jobs, open new markets for […]
Senate Reports Offer Insight into Future Tory Privacy, CBC Policies
Senate Reports Offer Insight into Future Tory Privacy, CBC Policies While Duffy trial ruled the news, our upper house released several new documents. The trial of Senator Mike Duffy featured several notable revelations last week about the inner workings of the Prime Minister’s Office. One of the most important was found in a 2013 memo […]
Fracking triggered 2014 earthquake in northeastern B.C.
Fracking triggered 2014 earthquake in northeastern B.C. Quake one of world’s largest ever triggered by hydraulic fracturing Fracking triggered a 4.4-magnitude earthquake in northeastern B.C. last year, CBC News has learned, making it one of world’s largest earthquakes ever triggered by the controversial process. B.C.’s Oil and Gas Commission confirmed the cause of the earthquake in an email statement to CBC this […]
Enjoy Canada’s low dollar while you can: Don Pittis
Enjoy Canada’s low dollar while you can: Don Pittis There’s not much you can do about the low loonie, so just look on the bright side The low Canadian dollar is hurting John Stiles at Calgary-based Planet Foods. His company distributes natural foods and healthy snacks across Canada. The cost of his U.S. imports is […]
China’s market woes could be chance to ‘reset’ Canadian economy
China’s market woes could be chance to ‘reset’ Canadian economy Canada should ‘rely less on commodity growth and put the emphasis on other sectors,’ analyst says China’s staggering economic growth has been, in many ways, a boon for Canada. Put simply, China need lots of the things we have to offer like wood, metals, and […]
China share plunge drives selling in Asian, European markets
China share plunge drives selling in Asian, European markets Benchmark Shanghai Composite Index is down 38 per cent from its June 12 peak World stock markets plunged on Monday after China’s main index sank 8.5 per cent — its biggest drop since the early days of the global financial crisis — amid deepening fears over […]
Document raises questions about Harper retirement policies
Document raises questions about Harper retirement policies Finance Canada review of Canada’s retirement system says Canada scores poorly among OECD countries Canada scores poorly among developed countries in providing public pensions to seniors, according to an internal analysis of retirement income by the federal government. And voluntary tax-free savings accounts or TFSAs, introduced by the […]
TSX and Dow plunge again on fears of China-led slowdown
TSX and Dow plunge again on fears of China-led slowdown Dow in correction territory as investors hit ‘sell’ button North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling. The main benchmark index of […]
Big oil that’s making a killing: Don Pittis
Big oil that’s making a killing: Don Pittis Don’t weep for the “downstream” part of the oil business, it’s booming In business lore there is no better advice than “buy low, sell high.” As markets keep hitting new lows, that’s pretty hard for the average investor these days, but in parts of the oil business, it’s exactly […]
