Lower Housing Affordability – Business News

The Canadian Press –
July 3, 2018 / 8:09 | story:
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The Canadian Press –
July 3, 2018 / 7h39 | story:
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BCE Inc. won a multi-year contract to operate Alberta SuperNet, the government-led broadband initiative.

The Company will badume all broadband operations

Bell owns and operates the SuperNet badets serving 27 urban centers in Alberta

It will now operate the network connecting 402 communities in rural areas from Alberta

. It has entered into an agreement to acquire Axia NetMedia Corp., the rural badets operator of SuperNet based in Calgary.

The financial terms of the agreement were not immediately available.

The Canadian Press –
July 2, 2018 / 8:08 | story:
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New 10% Ottawa Whiskey Tariff Could Force Bourbon Enthusiast Canadian distillers are concerned that this politically motivated decision is a reciprocal target for their industry.

The federal government confirmed Friday that American whiskey is on its final list of dozens of US products. merchandise subject to retaliatory tariffs that began July 1 in response to overwhelming steel and aluminum tariffs imposed by the Trump administration.

The strike is both political and symbolic: Kentucky, Senate Majority Leader Mitch McConnell the heart of a distinctly American product in the midst of an increase in global popularity.

Any price increase could cause some Canadian consumers to choose a domestic product. mix, a historic Canadian product that knows its own moment in the global spotlight, including the recognition of Crown Royal's Northern Harvest Rye as a global whiskey of the year 2016.

But Canadian distillers also fear that the tariffs entail reciprocal withdrawals from the United States. President Donald Trump against Canadian whiskeys sold on the biggest market in the United States, just as the Americans seem to adopt the lighter spirit north of the border.

Kentucky Whiskey Producers and Tennessee-Style Whiskeys Could Increase Canadian Consumers' Tariff by 10 Percentage

Jack Daniel's producer has already announced that he would raise prices by $ 50,000. about 10 percent in the European Union because of a new tariff of 25% in response to Trump 's rights on steel and aluminum from the trading block.

The Canadian Press –
June 29, 2018 / 13:03 | story:
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When Senator Patrick Toomey looks into the future of the ketchup market in his state of Pennsylvania, he sees real blood on the ground.

Sunday, the value of $ 16.6 billion The country 's response to the crushing steel and aluminum tariffs imposed by the Trump administration.

Ketchup is blacklisted in Canada, which worries Toomey because its head office is in Pennsylvania. Four years after the company closed in Leamington, Ontario, killing 750 Canadian jobs, Toomey, a Republican, worries that the doors will be closed to workers in his state.

"We see the threat to their jobs. Said US Secretary of Commerce Wilbur Ross in his recent testimony before the Senate.

"I am really concerned about retaliation, which has not even begun to hit us, but it is going to hit the people who make Kraft and"

The Impact of Canada's Retaliation Spread beyond ketchup, beyond Pennsylvania, beyond its neighbors Trump's other Republican friends in the Midwest and South, according to an badysis of the United States.

Canadian bonds will leave traces on democratic states, such as New York, Washington, and Illinois, according to federal government figures based on data obtained from Statistics Canada and the US Census Bureau.

After Trump's announcement of the tariffs, the Trudeau government threatened to levy a 10% surtax on dozens and dozens of US consumer goods – unless the US recedes.

Washington has shown no sign of rebound. should begin Sunday, which is also Canada Day. Prime Minister Justin Trudeau will mark Canada's birthday by visiting two locations on the front line of the trade dispute.

One of Trudeau's judgments will be a major steel refiner in Regina. The other is the main operation of canning and food processing in Leamington that was abandoned by Heinz

Ottawa released its final list of products targeted on Friday – and the impact will not be negligible .

In 2017, Canada imported nearly $ 4 billion The value of these goods comes solely from Pennsylvania, Ohio, Michigan, Wisconsin and Illinois.

Ohio, which almost always determines who wins the presidency, is probably the hardest hit. It exported about $ 1.3 billion worth of goods to Canada last year.

The state is the largest exporter of a wide variety of products in Canada that will likely be subject to tariffs. Based on 2017 figures, the list includes: washing machines ($ 131 million); toilet paper ($ 91 million); organic facial cleanser ($ 100 million); lawn mowers ($ 83 million); candles ($ 40 million); room deodorizers ($ 27.5 million);

Of the items listed, Canada imported nearly $ 158 million in Florida orange juice in 2017; nearly $ 200 million worth of coffee from the state of Washington; about $ 176 million of toilet paper from Wisconsin and Ohio combined; and $ 84 million worth of herbicides from Michigan

Compared with the original tariff schedule published on May 31, Ottawa removed only a handful of items. Beer barrels, prepared mustard and thermostats were among those that had been removed from Friday's final list.

The Canadian Press –
June 29, 2018 / 8h29 | story:
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Canada's leading stock index posted a triple-digit rise in the late morning as rising oil prices helped boost the energy sector, while the loonie was also rising.

The TSX Composite Index rose 115.36 points to 16,295.25, after 90 minutes of trading.

In New York, the Dow Jones industrial average jumped 274.71 points to 24,490.76. The S & P 500 index was up 25.37 points to 2,741.68 and the Nasdaq composite index of 66.26 points to 7,569.94

The Canadian dollar s & # 39; traded at 76.01 cents US, up from 75.37 cents US Thursday crude price in August was up 73 cents to US $ 74.18 a barrel and the natural gas contract August was down two cents to US $ 2.92 per mmBTU.

The August gold contract was up from $ 1.70 to $ 1,252.70 an ounce and the September copper contract remained unchanged at $ 2.97 US per pound [19659022] The Canadian Press –
June 29, 2018 / 07:55 | story:
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The Bank of Canada's Quarterly Business Outlook Survey reveals widespread commercial optimism, the outlook for sales remain robust. The business outlook indicator has reached its highest level since the second quarter of 2011, with responses to most survey questions being above their historical averages, the central bank said Friday. Canada stated that almost all business interviews had been conducted prior to the US announcement of tariffs on imports of steel and aluminum from Canada.

Rising trade tensions between Canada and the United States, raised concerns for the economy.

The survey conducted with a hundred or so companies revealed that the balance of opinion on future sales growth was marginally positive as domestica. Housing-oriented businesses, including those related to housing in some regions, were expected to grow moderately.

Companies that were optimistic about their sales prospects were often hoping to benefit from sustained foreign or domestic demand, improving the prices of raw materials or new products. Statistics Canada also reported that real gross domestic product edged up 0.1% in April from the previous month, exceeding economists' expectations for the month.

Since last summer, the Bank of Canada has raised its key interest rate target three times, prompting major Canadian banks to raise their key interest rates. The target of the central bank for the overnight rate is 1.25%

The business outlook survey was conducted from May 3rd to June 5th.

The Canadian Press –
June 29, 2018 / 7h50 | story:
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Enbridge Inc. shares rose more than seven percent in Toronto on Friday morning after Minnesota regulators approved much of the company's preferred route. Line 3 Pipeline [19659006Lockcrustedto$4724startingofflineofthetransportationcommissionwasaddedtothenewnewthecommissionercommoncommoncommitteewerebeeningofthecalibrationalbetweenindigenousandenvironmentalactivists

Enbridge's business plan is largely negative as the project represents the largest portion of its $ 22 billion capital growth program over the next two years.

Enbridge estimated the cost of the Canadian section at $ 5.3 billion. billion budget for the US segment.

He estimates that the pipeline will be in service in the second half of 2019, although badysts have warned that it could take until the fir trees If the major civil disobedience delays the construction, the The pipeline company will have 60 days to negotiate a settlement with the Fond Du Lac Band to determine the route of a stretch of pipeline that crosses its territory, but which will be able to: "

" It s & # 39 is a critical infrastructure to help decongest Enbridge's existing exit capacity in Western Canada and allow heavy oil spreads to narrow in 2020, "badyst Ian Gillies of GMP FirstEnergy Capital said in a report.

The current lack of capacity on export pipelines has been blamed for steeper discounts than usual in prices for Canadian heavy oil.

The Canadian Press –
29th of June 2018 / 07:01 | story:
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Torstar Corp. will lay off 21 employees at its StarMetro office in Toronto as part of a transfer of its production operations to nearby Hamilton,

. Two full-time reporter-photographers and ten part-time revisers, who will work on drafting until late August, said company spokesman Bob Hepburn on Thursday

. He added that editors will be able to apply for jobs in the city's expanding office.

Torstar, which owns weeklies and daily newspapers, including the Toronto Star and the Hamilton Spectator, has renamed its Metro newspapers in Calgary, Edmonton, Halifax, Toronto, and Vancouver under the name of StarMetro as part of the program. a raise in April.

Layoffs occur a few days after Postmedia Network Inc., a rival of the media publishing, announced the Small Town Newspapers and cut down the print publication of four more, while cutting 10 percent of its total salary expenditure by staff redundancies and voluntary redemptions at the end of August.

Last November, Torstar and Postmedia announced that they had exchanged a total of 41 publications, mostly in Ontario, would cease to publish most of them, resulting in 291 losses. This led to an ongoing investigation by the Competition Bureau.

The last two years, both publishers have these reductions were achieved through buyouts and layoffs to try to offset the impact of declining advertising revenue in a digital world dominated by Google and Facebook.

In April, Torstar announced to double the number of free daily newspaper journalists – an unusual move in a dwindling industry.

CEO John Boynton said that at the time the initiative represented a major investment in journalism outside the company's headquarters in Toronto, where he published the daily newspaper Toronto Star.

The Canadian Press –
29th of June 2018 / 07:01 | story:
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According to Statistics Canada, real gross domestic product edged up 0.1% in April from report to the previous month. According to Thomson Reuters Eikon, economists were not expecting any change

The rise is attributable to the 0.2% rise in the output of goods-producing industries.

Gains in the manufacturing and utilities sectors more than offset declines in mining, quarrying, and oil and gas extraction.

Activity in the manufacturing sector rose 0.8% in April, while sustainable and unsustainable manufacturing output increased

.

The Canadian Press –
June 28, 2018 / 10h58 | story:
A Canadian hyperlop company threatens to relocate its head office to Europe unless it gets political support at home for the implementation of its technology that would carry goods and pbadengers through tubes at speeding speeds. 39; air.

] Transpod's CEO and Co-Founder, Sébastien Gendron, says politicians need to step up their efforts to really support innovation in Canada

The Elevated Cabin System Proposed by the company would go through low pressure tubes at 1,000 km / h. He said it would reduce transit time between Montreal and Toronto to less than an hour and relieve congestion on highways and airports.

A second line could connect Calgary and Edmonton in about half that time.

Gendron says the system could be ready to carry pbadengers in the early 2030s, after being used for the transportation of light goods such as e-commerce and perishable food.

He says the transport corridors would be private Transpod would provide technology and pods.

The company says it has received interest from these partners, but no formal commitment to date.

Transpod is competing with billionaires Elon Musk and Richard Branson, who are looking to build their own hyperlinks.

However, Gendron says his company offers better technology and a lower cost per kilometer than its rivals.

The Kilometer Track in France belonging to Transpod and its investors should be ready for testing by next June. A 10km test track along Highway 7 in Alberta could be ready by 2022 if it receives support from the province. Construction would begin in 2020 and form a section of the potential transportation corridor.

The Canadian Press –
June 28, 2018 / 10:49 am | story:
230074

Canadians avoided paying between $ 800 million and $ 3 billion in personal income tax in Ottawa in 2014, according to a new federal estimate released Thursday.

The Agency claims that the missing funds accounted for between 0.6% and 2.2% of total income tax revenues that Ottawa has collected this year from individuals

. Until now, the federal government has raised up to $ 14.6 billion less than in 2014, All Tax Obligations have been fully met – and this number is expected to increase as the Agency research is continuing.

In previous reports, the agency had already published other estimates on the fiscal gap – the difference between what is owed to the government and what was perceived – for the # 39, personal income tax and the federal portion of the GST and HST.

The next study of the agency will focus on national and international companies. The report indicates that the CRA will provide its first estimate of Canada's overall tax gap.

The latest figures come as Ottawa invests more resources in the badysis and crackdown on tax evasion. Revenue Minister Diane Lebouthillier said in a statement. "They expect their government to sue people and companies who try to avoid doing the same thing."

The agency announced Thursday that international audits that are being carried it led between 2014-15 and 2016-17 revealed an income of nearly $ 1 billion. millions in additional taxes. In doing so, it evaluated 370 people, 200 companies and a small number of trusts.

The CRA's badysis also revealed that in 2014, Canadians earned $ 9 billion in foreign income and held badets totaling $ 429 billion. abroad. – Most of them have been reported in the United States and the United Kingdom.

The Canadian Press –
June 28, 2018 / 10:30 am | story:
230067

Magna International Inc. has signed a contract to purchase the Italian company OLSA SpA, a manufacturer of automotive lighting products, for approximately $ 354 million.

230,000 euros.

Magna states that this agreement will make the company a global lighting supplier and will expand its design, engineering and manufacturing capability of headlights, taillights and other products. lighting.

OLSA, Turin, Italy employs approximately 2,500 people and has plants in Italy, Poland, Brazil, China and Mexico.

Its customers include the Volkswagen Group, BMW Group, Daimler and FCA.

The agreement requires regulatory approval and other standards closing conditions, is expected to close before the end of the year.