Italy, China sign memorandum deepening economic ties

Italy, China sign memorandum deepening economic ties
ROME — Italy signed a memorandum of understanding with China on Saturday in support of Beijing’s “Belt and Road” initiative, which aims to weave a network of ports, bridges and power plants linking China with Africa, Europe and beyond. Premier Giuseppe Conte and Chinese President Xi Jinping shook hands during a ceremony in Rome after 29 separate protocols of the... Read More

Chinese importers have stopped buying Canadian canola seed: Industry group

Chinese importers have stopped buying Canadian canola seed: Industry group
Canola seed exporters report Chinese companies — one of their major markets — have stopped buying their product, according to an industry group. The ongoing trade dispute that started earlier this month when China revoked the permit of a major Canadian exporter is also causing woes for canola farmers, grappling with lower prices and delayed shipments. Canola seed exporters have told the... Read More

Export slump deepens for American whiskey producers

Export slump deepens for American whiskey producers
LOUISVILLE, Ky. — American whiskey producers are suffering a worsening hangover from the Trump administration’s trade disputes. Overall exports of bourbon, Tennessee whiskey and rye whiskey fell 11 per cent during the second half of 2018 compared to the prior-year period, as the impact of tariffs started to be felt, the Distilled Spirits Council said in a report Thursday. The... Read More

Carbon tax, oil and gas investment dominate Day 2 of Alberta campaign

Carbon tax, oil and gas investment dominate Day 2 of Alberta campaign
LETHBRIDGE, Alta. — The leader of Alberta’s United Conservatives spent his second day on the campaign trail attacking the NDP government’s carbon tax. Jason Kenney reiterated his vow to make repealing the tax his government’s first order of business if he is elected premier on April 16. Speaking at an iron works company in Lethbridge, Kenney said nixing the tax... Read More

SNC-Lavalin CEO says employees will move to foreign rivals if it is debarred

SNC-Lavalin CEO says employees will move to foreign rivals if it is debarred
TORONTO — SNC-Lavalin’s local employees will be forced to work for foreign competitors if the embattled engineering firm is barred from bidding on federal contracts, diminishing its role as rare Canadian global champion, the company’s CEO said Wednesday. “There would be a reduction with us but these are talented folks. They’ll get a job,” Neil Bruce said in an interview with The Canadian Press.... Read More

Finance minister defends Liberal budget measures as sales effort gets underway

Finance minister defends Liberal budget measures as sales effort gets underway
TORONTO — Federal Finance Minister Bill Morneau kicked off his post-budget sales effort Wednesday, defending his Liberal government’s strategy of investing in consumer confidence and deflecting suggestions that it could lead to higher home prices in overheated urban markets. The budget Morneau tabled Tuesday in the House of Commons, his last before Canadian voters go to the polls this fall, showcased several... Read More

Stock options to be taxed more like regular income under new federal budget

Stock options to be taxed more like regular income under new federal budget
OTTAWA — Executives at big established companies who get paid with large stock grants will owe more in tax under changes promised in the new federal budget. Under the current rules, employee stock option benefits are taxed at half the normal rate of personal income — the same rate as capital gains. The plan announced in the federal budget Tuesday... Read More

Budget 2019: Five things to watch for in the Liberals’ final fiscal blueprint

Budget 2019: Five things to watch for in the Liberals’ final fiscal blueprint
OTTAWA — Finance Minister Bill Morneau will release the Trudeau government’s final budget of its mandate Tuesday, just seven months before the next federal election. Here are some things to watch for: A boost to skills training The government says it wants to help workers adapt to the rapidly changing needs of the modern workforce. The budget is expected to announce measures to help Canadians cover... Read More

Quebec government doesn’t rule out buying SNC-Lavalin shares, Legault says

Quebec government doesn’t rule out buying SNC-Lavalin shares, Legault says
BROMONT, Que. — Quebec Premier Francois Legault says his government isn’t ruling out buying shares in SNC-Lavalin in order to prevent the company from being sold or dismantled. Legault said Friday that all options are currently on the table when it comes to saving the troubled Montreal-based engineering giant and the thousands of jobs it provides. The province’s pension fund manager already has a... Read More

Media industry anxious for news in budget on federal plan to support journalism

Media industry anxious for news in budget on federal plan to support journalism
OTTAWA — The Trudeau government is due to deliver an update to its plan to support journalism in next week’s budget but Ottawa’s recent silence on the file has stoked concerns in the media industry that a lifeline is taking too long to arrive. Last fall, the federal Liberals announced new tax credits and incentives, worth $595 million over the next five years, to support the struggling news industry.... Read More