TORONTO — Five things to watch for in the Canadian business world in the coming week:
Valeant headed to court
Valeant Pharmaceuticals International Inc. is scheduled to appear in U.S. court alongside activist investor Bill Ackman’s Pershing Square on Tuesday to discuss the proposed settlement in an insider trading lawsuit. Pershing Square and Valeant decided in late 2017 to pay $290 million to settle a lawsuit that accused them of insider trading before bidding for Allergan Plc.
Rates on the rise?
The Bank of Canada will reveal on Wednesday its decision whether or not to raise the trend-setting interest rate for a third time since last summer. Expectations for another rate hike increased last week after the bank’s most recent business outlook survey revealed that Canadian companies were planning to boost investment and hire more workers.
Senior economists from Scotiabank, RBC and TD Bank will meet in Ottawa on Tuesday to share their economic outlook for 2018. Recent BoC data suggests businesses are under the tightest capacity pressures since before the Great Recession, and U.S. tax reforms have boosted the outlook for a number of Canadian industries, including banks, insurance companies, and other organizations that earn a high share of their revenues in the U.S.
Stop that train, I wanna get off
CP Rail releases fourth-quarter and year-end results on Wednesday after markets close. Analysts have highlighted Canadian railways as particularly vulnerable to negative effects stemming from the potential dismantling of the North American Free Trade Agreement, as roughly 30 per cent of the railways’ revenues are derived from cross-border trade.
Trouble on the tarmac
Passenger rights advocate Gabor Lukacs will appear on Monday in a Nova Scotia court on behalf of a woman who claims she was denied boarding a flight with her three young children, dog and mother because it was oversold. Airlines are under increasing scrutiny over treatment of their passengers as video footage circulates on social media depicting poor treatment and even physical violence at the hands of airline staff and airport security.
The Canadian Press