- Joined
- Sep 2, 2007
- Messages
- 12,690
What`s Behind the Curtain?
Canada
2008-12
Online Edition
CA Economic Fundamentals 2008-12
Canada
2008-12
Online Edition
CA Economic Fundamentals 2008-12
CA Economic Fundamentals 2008-12
- Thread starter joeiannuzzi
- Start date
- Joined
- Sep 2, 2007
- Messages
- 12,690
Gloomy economy won`t stop shoppers
Despite mounting doom and gloom about the Canadian economy, the majority of consumers are not dramatically reining in spending, with three-quarters reporting they are still parting with money as they search for bargains.
A clear majority also agree consumers should cast aside nervousness and spend money to revive the faltering economy, suggests a survey conducted for Canwest News Service and Global National.
http://www.vancouversun.com/news/todays-pa...6076/story.html
Despite mounting doom and gloom about the Canadian economy, the majority of consumers are not dramatically reining in spending, with three-quarters reporting they are still parting with money as they search for bargains.
A clear majority also agree consumers should cast aside nervousness and spend money to revive the faltering economy, suggests a survey conducted for Canwest News Service and Global National.
http://www.vancouversun.com/news/todays-pa...6076/story.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Opposition leaders agree to govern by coalition
OTTAWA - Canada`s three opposition leaders signed an historic agreement Monday to topple the government of Prime Minister Stephen Harper at the first opportunity, likely next Monday, and promised a series of "bold steps" to combat the economic crisis.
Harper has but one chance to stop them. He can prorogue Parliament this week -- essentially shutting it down until he and his party can return to the House of Commons early in the new year with a budget.
http://www.canada.com/edmontonjournal/news...8c-ca6e3f594abf
OTTAWA - Canada`s three opposition leaders signed an historic agreement Monday to topple the government of Prime Minister Stephen Harper at the first opportunity, likely next Monday, and promised a series of "bold steps" to combat the economic crisis.
Harper has but one chance to stop them. He can prorogue Parliament this week -- essentially shutting it down until he and his party can return to the House of Commons early in the new year with a budget.
http://www.canada.com/edmontonjournal/news...8c-ca6e3f594abf
- Joined
- Sep 2, 2007
- Messages
- 12,690
Hold on to your hats
A left-of-centre coalition government, including the NDP in key cabinet posts, could have consequences for Alberta similar to the National Energy Program and shoot the loonie out of the sky, says a Calgary petroleum analyst. "This is as bad, if not worse, than when the Liberals introduced the National Energy Program," said Peter Linder, principal owner of DeltaOne Capital Partners.
http://calsun.canoe.ca/Business/2008/12/02/7604111-sun.html
A left-of-centre coalition government, including the NDP in key cabinet posts, could have consequences for Alberta similar to the National Energy Program and shoot the loonie out of the sky, says a Calgary petroleum analyst. "This is as bad, if not worse, than when the Liberals introduced the National Energy Program," said Peter Linder, principal owner of DeltaOne Capital Partners.
http://calsun.canoe.ca/Business/2008/12/02/7604111-sun.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Scotiabank pulls back on lending
TORONTO (CNS) -- Bank of Nova Scotia is pulling back on lending to consumers and warning investors to brace for softer earnings next year as the economy slides into recession.
The third-largest bank in the country provided the clearest signal yet of any major Canadian financial institution that it is reining in offers of loans to customers for big-ticket items such as homes.
http://www.canada.com/saskatoonstarphoenix...56-4f296bda53c3
TORONTO (CNS) -- Bank of Nova Scotia is pulling back on lending to consumers and warning investors to brace for softer earnings next year as the economy slides into recession.
The third-largest bank in the country provided the clearest signal yet of any major Canadian financial institution that it is reining in offers of loans to customers for big-ticket items such as homes.
http://www.canada.com/saskatoonstarphoenix...56-4f296bda53c3
- Joined
- Sep 2, 2007
- Messages
- 12,690
PM expected to suspend Parliament
OTTAWA -- To save his job and his government, Prime Minister Stephen Harper is expected to suspend Parliament this week while his party blitzes the country with a public-relations campaign aimed at discrediting the notion of a Liberal-led coalition government propped up by the separatist Bloc Québécois.
The Conservative party began airing radio ads yesterday while ministers and other Tory representatives were appearing on as many all-news television channels and talk-radio programs as they could to push their party`s message that they will not, in the words of one of Harper`s senior advisers, "allow a new radical government without the people`s consent."
http://www.canada.com/victoriatimescolonis...5f-8828087b85b9
OTTAWA -- To save his job and his government, Prime Minister Stephen Harper is expected to suspend Parliament this week while his party blitzes the country with a public-relations campaign aimed at discrediting the notion of a Liberal-led coalition government propped up by the separatist Bloc Québécois.
The Conservative party began airing radio ads yesterday while ministers and other Tory representatives were appearing on as many all-news television channels and talk-radio programs as they could to push their party`s message that they will not, in the words of one of Harper`s senior advisers, "allow a new radical government without the people`s consent."
http://www.canada.com/victoriatimescolonis...5f-8828087b85b9
- Joined
- Sep 2, 2007
- Messages
- 12,690
Recession threat slows home sales: ReMax
Some 440,000 homes are expected to change hands in Canada this year, according to a new housing forecast by ReMax.
The realtor says that total would represent a decrease of 15 per cent from record levels reached in 2007.
ReMax says Canadian housing values are expected to hover at $300,000 for the year, a three per cent drop from last year`s historic peak.
http://www.torontosun.com/money/2008/12/03/7617381.html
Some 440,000 homes are expected to change hands in Canada this year, according to a new housing forecast by ReMax.
The realtor says that total would represent a decrease of 15 per cent from record levels reached in 2007.
ReMax says Canadian housing values are expected to hover at $300,000 for the year, a three per cent drop from last year`s historic peak.
http://www.torontosun.com/money/2008/12/03/7617381.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Brazil, Egypt hot spots for investments
NEW YORK - Brazil, Egypt, Mexico and China remain some of the best places for property investments as the global financial crisis drags on, according to real estate mogul Sam Zell.
Those countries have a shortage of affordable housing and infrastructures that support foreign investment, said Mr. Zell, chairman of Equity Group Investments LLC.
http://www.nationalpost.com/todays_paper/s...html?id=1029197
NEW YORK - Brazil, Egypt, Mexico and China remain some of the best places for property investments as the global financial crisis drags on, according to real estate mogul Sam Zell.
Those countries have a shortage of affordable housing and infrastructures that support foreign investment, said Mr. Zell, chairman of Equity Group Investments LLC.
http://www.nationalpost.com/todays_paper/s...html?id=1029197
- Joined
- Sep 2, 2007
- Messages
- 12,690
A political pause
OTTAWA -- Prime Minister Stephen Harper did his best Thursday to douse a political fire that threatened to consume his young government, inviting his opponents to give him advice on a new federal budget minutes after he won a request to have Parliament suspended until Jan. 26.
"The opposition criticism is that we have to focus on the economy immediately," Harper said. "Today`s decision will give us an opportunity ... to focus on the economy and to work together."
http://www.leaderpost.com/news/todays-pape...5349/story.html
OTTAWA -- Prime Minister Stephen Harper did his best Thursday to douse a political fire that threatened to consume his young government, inviting his opponents to give him advice on a new federal budget minutes after he won a request to have Parliament suspended until Jan. 26.
"The opposition criticism is that we have to focus on the economy immediately," Harper said. "Today`s decision will give us an opportunity ... to focus on the economy and to work together."
http://www.leaderpost.com/news/todays-pape...5349/story.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Canadian economic outlook deteriorates
OTTAWA -- The shift from commodity boom to bust will shrink the Canadian economy, incomes and tax revenues, resulting in recession and government deficits, TD Bank warned in a report Thursday.
The warning was issued amid a further plunge in prices for oil and other commodities, and a flood of disappointing news of soaring consumer bankruptcies, plunging business activity and falling building construction intentions.
http://www.leaderpost.com/Business/Canadia...5370/story.html
OTTAWA -- The shift from commodity boom to bust will shrink the Canadian economy, incomes and tax revenues, resulting in recession and government deficits, TD Bank warned in a report Thursday.
The warning was issued amid a further plunge in prices for oil and other commodities, and a flood of disappointing news of soaring consumer bankruptcies, plunging business activity and falling building construction intentions.
http://www.leaderpost.com/Business/Canadia...5370/story.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
CIBC curbs credit card lending
Canadian Imperial Bank of Commerce will continue tightening credit card lending and is forecasting "slower demand" for mortgages, noting the fading economy will likely spur a bigger rise in personal bankruptcies in 2009.
Canada`s fifth-largest bank – reeling from the credit crunch – provided that outlook yesterday as it posted a 51 per cent decline in its fourth-quarter profit and a big full-year loss.
http://www.thestar.com/Business/article/548718
Canadian Imperial Bank of Commerce will continue tightening credit card lending and is forecasting "slower demand" for mortgages, noting the fading economy will likely spur a bigger rise in personal bankruptcies in 2009.
Canada`s fifth-largest bank – reeling from the credit crunch – provided that outlook yesterday as it posted a 51 per cent decline in its fourth-quarter profit and a big full-year loss.
http://www.thestar.com/Business/article/548718
- Joined
- Sep 2, 2007
- Messages
- 12,690
East and west deeply divided: poll
OTTAWA - The struggle for power in the House of Commons has sparked divisions between Canadians in the east and west about the prospect of a coalition forming a government with the support of the Bloc Quebecois, according to a new poll.
http://www.nationalpost.com/todays_paper/s...html?id=1033827
OTTAWA - The struggle for power in the House of Commons has sparked divisions between Canadians in the east and west about the prospect of a coalition forming a government with the support of the Bloc Quebecois, according to a new poll.
http://www.nationalpost.com/todays_paper/s...html?id=1033827
- Joined
- Sep 2, 2007
- Messages
- 12,690
Liberals mobilizing to dump Dion
OTTAWA — A movement to dump Stéphane Dion immediately has mushroomed within Liberal ranks, with former deputy prime minister John Manley calling for him to resign, and Grits from nearly every faction of the party exploring ways to pressure him to leave as early as next week. Meanwhile, Michael Ignatieff, the front-runner to replace Mr. Dion, said the party is exploring ways to accelerate the choice of a new leader.
In an opinion piece published in The Globe and Mail Saturday, Mr. Manley calls for Mr. Dion to resign immediately so that a new leader can be chosen before Christmas.
http://www.theglobeandmail.com/servlet/sto...y/politics/home
OTTAWA — A movement to dump Stéphane Dion immediately has mushroomed within Liberal ranks, with former deputy prime minister John Manley calling for him to resign, and Grits from nearly every faction of the party exploring ways to pressure him to leave as early as next week. Meanwhile, Michael Ignatieff, the front-runner to replace Mr. Dion, said the party is exploring ways to accelerate the choice of a new leader.
In an opinion piece published in The Globe and Mail Saturday, Mr. Manley calls for Mr. Dion to resign immediately so that a new leader can be chosen before Christmas.
http://www.theglobeandmail.com/servlet/sto...y/politics/home
- Joined
- Sep 2, 2007
- Messages
- 12,690
Sinking loonie `will hurt`
VANCOUVER -- Canadians can expect higher consumer prices and more expensive international vacations next year with a dollar that could easily dip below 75 cents US, Central 1 Credit Union chief economist Helmut Pastrick said yesterday.
His comments came after the dollar briefly fell below 77 cents US before rebounding and gaining 0.44 cents on the day to close at 78.68 cents US.
http://www.timescolonist.com/Business/Sink...1579/story.html
VANCOUVER -- Canadians can expect higher consumer prices and more expensive international vacations next year with a dollar that could easily dip below 75 cents US, Central 1 Credit Union chief economist Helmut Pastrick said yesterday.
His comments came after the dollar briefly fell below 77 cents US before rebounding and gaining 0.44 cents on the day to close at 78.68 cents US.
http://www.timescolonist.com/Business/Sink...1579/story.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Positive perspective to real estate downturn in report
Warning: the following article contains positive information from an independent third party.
http://www.yourhome.ca/homes/article/548033
Warning: the following article contains positive information from an independent third party.
http://www.yourhome.ca/homes/article/548033
- Joined
- Sep 2, 2007
- Messages
- 12,690
Risk of U.S.-style housing meltdown remote in Canada: RBC
Canada`s housing sector is entering what RBC Economics calls a "cyclical downtown," but says the risk of a U.S.-style meltdown is remote.
RBC senior economist Robert Hogue says many factors that triggered the U.S. housing collapse are either absent or of much lower significance in Canada.
He says the housing market is expected to hold up even as a sluggish economy threatens income growth and erodes consumer confidence.
http://www.edmontonsun.com/Business/News/2...08/7669621.html
Canada`s housing sector is entering what RBC Economics calls a "cyclical downtown," but says the risk of a U.S.-style meltdown is remote.
RBC senior economist Robert Hogue says many factors that triggered the U.S. housing collapse are either absent or of much lower significance in Canada.
He says the housing market is expected to hold up even as a sluggish economy threatens income growth and erodes consumer confidence.
http://www.edmontonsun.com/Business/News/2...08/7669621.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
Housing starts topple as demand eases: CMHC
Canadian housing starts fell to 172,000 at a seasonally adjusted annual rate last month, down from 211,800 in October, Canada Mortgage and Housing Corp. reported Monday.
The rate of urban starts decreased 21.6 per cent month-over-month to 144,800 in November, with declines in all parts of the country as volatile multiple starts tumbled 29.1 per cent to 81,700 while single-family starts eased 9.0 per cent to 63,100.
http://www.yourhome.ca/homes/article/550141
Canadian housing starts fell to 172,000 at a seasonally adjusted annual rate last month, down from 211,800 in October, Canada Mortgage and Housing Corp. reported Monday.
The rate of urban starts decreased 21.6 per cent month-over-month to 144,800 in November, with declines in all parts of the country as volatile multiple starts tumbled 29.1 per cent to 81,700 while single-family starts eased 9.0 per cent to 63,100.
http://www.yourhome.ca/homes/article/550141
- Joined
- Sep 2, 2007
- Messages
- 12,690
Embattled Dion to resign Liberal leadership
Liberal leader Stéphane Dion plans to step down as early as today to pave the way for a permanent successor who could head a coalition government or lead the party into a federal election early next year if the Harper government is defeated.
As word of Mr. Dion`s resignation was leaked to reporters, a fierce battle was under way between the top rivals for his job -- Toronto MPs Michael Ignatieff and Bob Rae -- about how the party will go about replacing him.
http://www.ottawacitizen.com/news/todays-p...6616/story.html
Liberal leader Stéphane Dion plans to step down as early as today to pave the way for a permanent successor who could head a coalition government or lead the party into a federal election early next year if the Harper government is defeated.
As word of Mr. Dion`s resignation was leaked to reporters, a fierce battle was under way between the top rivals for his job -- Toronto MPs Michael Ignatieff and Bob Rae -- about how the party will go about replacing him.
http://www.ottawacitizen.com/news/todays-p...6616/story.html
- Joined
- Sep 2, 2007
- Messages
- 12,690
WestJet says aloha to Hawaii partnership
Airlines - Island hop, anyone?
WestJet Airlines Ltd. has partnered with Kona, Hawaii based Mokulele airlines, an inter-island airline that operates 85 daily departures to seven cities in Hawaii.
Announced Monday, the partnership, will enhance service for inter-island travellers and allows flyers greater access and convenience in connecting to the islands Mokulele serves, WestJet said.
http://www.canada.com/calgaryherald/news/c...0c-6ccb1fd1ca69
Airlines - Island hop, anyone?
WestJet Airlines Ltd. has partnered with Kona, Hawaii based Mokulele airlines, an inter-island airline that operates 85 daily departures to seven cities in Hawaii.
Announced Monday, the partnership, will enhance service for inter-island travellers and allows flyers greater access and convenience in connecting to the islands Mokulele serves, WestJet said.
http://www.canada.com/calgaryherald/news/c...0c-6ccb1fd1ca69
- Joined
- Sep 2, 2007
- Messages
- 12,690
Bank of Canada cuts rates to 50-year low
The Bank of Canada surprised markets Tuesday with a deeper-than-expected 75-basis-point cut to its benchmark-lending rate, to 1.5% or a 50-year low, as it warned that Canada is entering a recession and global economic conditions are deteriorating at a deeper rate than anticipated.
http://www.nationalpost.com/todays_paper/s...html?id=1051659
The Bank of Canada surprised markets Tuesday with a deeper-than-expected 75-basis-point cut to its benchmark-lending rate, to 1.5% or a 50-year low, as it warned that Canada is entering a recession and global economic conditions are deteriorating at a deeper rate than anticipated.
http://www.nationalpost.com/todays_paper/s...html?id=1051659