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: Bank of Canada speech Bank of Canada senior deputy governor Carolyn Wilkins will give a speech Tuesday to the International Finance Club of Montreal on safeguarding the financial system. Last week, the central bank’s chief operating officer Filipe Dinis called for greater collaboration between... Read More

CREA: national home sales up 12.9 per cent in October compared with last year

CREA: national home sales up 12.9 per cent in October compared with last year
OTTAWA — The Canadian Real Estate Association says the number of home sales was up 12.9 per cent nationally in October compared with the same month last year. It says sales activity last month was almost the same as for September, but up almost 20 per cent from a six-year low reached in February. Home sales are still about seven per cent below the heights... Read More

PBO forecasts slower growth and deeper federal deficits

PBO forecasts slower growth and deeper federal deficits
OTTAWA — Parliament’s budget watchdog is warning of rougher economic waters ahead that will likely send the federal budget deeper into deficit. In a new report this morning, the parliamentary budget office downgrades the country’s economic outlook compared to its projections from June, citing weaker exports because of trade disputes and protectionism. Also factored into the downward economic outlook are spending cuts by... Read More

Saskatchewan plans to open new trade offices as part of plan to grow province

Saskatchewan plans to open new trade offices as part of plan to grow province
SASKATOON — The Saskatchewan government is announcing plans to open trade offices in Japan, India and Singapore. The province hopes doing so will strengthen trade relationships and increase the shipment of exports. The trade offices are part of Premier Scott Moe’s plan to increase the province’s population to 1.4 million by 2030 from the current 1.1 million. Growing the province was highlighted as a priority... Read More

Drilling association forecasts almost no growth in 2020 oilpatch activity

Drilling association forecasts almost no growth in 2020 oilpatch activity
CALGARY — The association that represents Canadian drilling companies is forecasting a minuscule improvement in drilling activity in 2020. The Canadian Association of Oilwell Drilling Contractors says it expects a total of nine more wells to be drilled next year, taking the total number to 4,905. The stand-pat forecast is more positive than one released two weeks ago by the Petroleum Services Association of... Read More

Rona’s ‘truly Canadian,’ ‘proudly Canadian’ signs inaccurate, Ad Standards says

Rona’s ‘truly Canadian,’ ‘proudly Canadian’ signs inaccurate, Ad Standards says
TORONTO — Ad Standards says Rona Inc.’s “truly Canadian” and “proudly Canadian” store signs are inaccurate since the company has been acquired by a U.S. firm. The advertising industry’s self-regulatory body says it received two complaints about the accuracy of the large outdoor signs located on some of the home improvement stores. In May 2016, North Carolina-based Lowe’s Companies Inc. acquired... Read More

Imperial ‘scurrying’ to ramp up crude by rail but uninterested in rail contracts

Imperial ‘scurrying’ to ramp up crude by rail but uninterested in rail contracts
CALGARY — Imperial Oil Ltd. is “scurrying” to quickly ramp up crude-by-rail shipments from its Edmonton terminal to take advantage of improved profitability caused by the Keystone pipeline spill in North Dakota, CEO Rich Kruger said Tuesday. But the company has little interest in buying $3.7 billion in rail contracts the provincial government is trying to unload because the market is too volatile to count... Read More

Canadian insolvencies increase 8.4 per cent over past 12 months to September

Canadian insolvencies increase 8.4 per cent over past 12 months to September
TORONTO — The Office of the Superintendent of Bankruptcy says the number of Canadian insolvencies increased 8.4 per cent over the past 12 months to September. The number of consumer insolvencies (bankruptcies and proposals) increased to 8.5 per cent compared with the same period a year earlier, while business insolvencies grew by 4.1 per cent. The mining, oil and gas... Read More

Alberta alters rules on oil production limits to spur more conventional drilling

Alberta alters rules on oil production limits to spur more conventional drilling
EDMONTON — Alberta is adjusting its rules on oil production limits to give companies incentive to drill more conventional wells. Energy Minister Sonya Savage says that starting immediately any oil produced from a new well will not be subject to the limits. The province expects the change will spur producers to drill hundreds of new wells and that each well will create about 145 jobs.... Read More

CHMC reports annual pace of housing starts slowed to 201,973 in October

CHMC reports annual pace of housing starts slowed to 201,973 in October
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts fell in October as the pace of new construction of apartment, townhouse, condo and other types of multiple-unit housing projects slowed. The national housing agency says the seasonally adjusted annual rate of housing starts last month slowed to 201,973 units in October compared with 221,135 in September. Economists... Read More