A by-the-numbers look at what 5G wireless could mean for Canada’s economy

A by-the-numbers look at what 5G wireless could mean for Canada’s economy
OTTAWA — A study commissioned by the Canadian Wireless Telecommunications Association lays out the potential benefits from the deployment of powerful, ultra-fast 5G wireless networks. A look at the findings in the Accenture report, by the numbers: $40 billion: Estimated economic growth from the adoption of 5G technology by 2026. $26 billion: Amount estimated to be spent on 5G network infrastructure... Read More

Better prices and new pipelines expected to drive higher Canadian crude output

Better prices and new pipelines expected to drive higher Canadian crude output
CALGARY — The Canadian Energy Research Institute says a pipeline capacity gap that is impeding the movement of Western Canada’s crude to market will close by 2021 and there will be surplus capacity from about 2022 until 2030. In a forecast based on financial modelling, the Calgary-based think-tank calls for the Enbridge Line 3 and Trans Mountain expansion pipelines to... Read More

US housing starts jumped 5 pct. in May off Midwest building

US housing starts jumped 5 pct. in May off Midwest building
WASHINGTON — A surge of construction in the Midwest drove U.S. housing starts up 5 per cent in May from the prior month. The Commerce Department says that housing starts rose to a seasonally adjusted annual rate of 1.35 million, the strongest pace since July 2007. All of May’s construction gains came from a 62 per centjump in the Midwest, while building slumped... Read More

Canada can end dairy trade dispute with U.S. by ending pricing irritant: Saputo

Canada can end dairy trade dispute with U.S. by ending pricing irritant: Saputo
MONTREAL — Canada can preserve its dairy supply management system and resolve its trade dispute with the United States over dairy subsidies by ending its domestic milk ingredient pricing system, the head of Canada’s largest dairy processor said Monday. Despite U.S. President Donald Trump’s tweets denouncing Canada’s supply management system, dairy farmers across the border aren’t petitioning to get rid of... Read More

South Korea joins Japan in halting Canadian wheat imports after GMO plants found

South Korea joins Japan in halting Canadian wheat imports after GMO plants found
CALGARY — South Korea has joined Japan in suspending trade in Canadian wheat following the discovery of genetically modified plants in southern Alberta. Global Affairs spokesman Jesse Wilson says it’s standard protocol in both countries to temporarily close markets in such cases. The Canadian Food Inspection Agency said last week that it tested plants that survived spraying for weeds and found... Read More

Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week
TORONTO — Five things to watch for in the Canadian business world in the coming week: Reading the BoC tea leaves Deputy Bank of Canada governor Lynn Patterson will speak before the Investment Industry Association of Canada on interest-rate benchmarks on Monday. The central bank has raised its key interest rate target three times since last summer and is expected... Read More

Ontario will scrap cap and trade, challenge Ottawa’s carbon tax: Doug Ford

Ontario will scrap cap and trade, challenge Ottawa’s carbon tax: Doug Ford
TORONTO — Doug Ford said Friday he will scrap Ontario’s cap-and-trade system and fight a federal carbon tax as soon as his Progressive Conservative cabinet is sworn in later this month because the measures hurt families and do nothing for the environment. To that end, the incoming premier said he will give notice of Ontario’s withdrawal from the carbon pricing market it shares with Quebec and California when he takes office on June 29. Ford, whose... Read More

Japan halts wheat imports after genetically modified wheat found in Alberta

Japan halts wheat imports after genetically modified wheat found in Alberta
CALGARY — The Canadian government is trying to reassure Japan and other trading partners that genetically modified wheat found in southern Alberta is limited to a few plants growing along a remote access road and has not been detected in the wider supply. Japan has temporarily halted imports of Canadian wheat as it reviews the tests that Canadian officials have already done,... Read More

CREA cuts home sales forecast, May sales down 16.2% compared with year ago

CREA cuts home sales forecast, May sales down 16.2% compared with year ago
OTTAWA — The Canadian Real Estate Association is lowering its national home sales forecast for this year due to weaker sales in B.C. and Ontario. The industry association which represents about 100,000 real estate agents across Canada said Friday it now expects home sales this year to fall 11 per cent compared with a year ago to 459,900 units this... Read More