Friday , May 25 2018
Breaking News


Uber Says Sales And Value Revved In First Quarter


Canada:Uber on Wednesday said its revenue revved in the first quarter of this year and that its value climbed to $62 billion in a new funding round. Uber said its net revenue in the quarter was $2.5 billion — up 67 percent from the same period a year earlier — on sales that climbed 55 percent to $11.3 billion. “We ... Read More »

Eurozone economy outlook dims as sentiment weakens: Survey


Brussels:The pace of growth of eurozone business activity continued to slow in May, as companies became less optimistic about the state of the economy in Europe, a key survey showed on Wednesday. Data monitoring company IHS Markit also flagged strong slowdowns in France and Germany, though employment growth in the 19-country single Currency bloc remained robust. The purchasing managers’ index ... Read More »

CANADA STOCKS-TSX futures drop as oil prices slip

stock falls

Futures for Canada’s main stock index were lower on Wednesday as oil prices dropped on expectations that OPEC may increase crude output to cover any supply shortages from Venezuela and Iran. June futures on the S&P TSX index were down 0.44 percent at 7:15 a.m. ET. Canada’s main stock index edged lower on Tuesday, breaking its longest winning run in ... Read More »

EU Fears Offer To US Not Enough To End Trade Row


Brussels,:The EU’s own top trade official warned Tuesday that the bloc’s last-ditch bid to persuade US President Donald Trump to back off stiff tariffs on metals imports from Europe fell short of expectations in Washington. Trade Commissioner Cecilia Malmstrom spoke ahead of talks of the EU’s 28 trade ministers to discuss an attempt to woo the US away from punishing ... Read More »

Ryanair Profits Up 10% Despite Cancellations Crisis


London,:Irish budget carrier Ryanair said Monday its net profit had risen 10 percent in 2017-2018 despite the cancellation of thousands of flights due to rostering problems. Spurred by an increase in passengers, net profit soared to 1.45 billion euros ($1.7 billion), a statement said, adding that it expected the figure to fall to between 1.25 and 1.35 billion euros in ... Read More »

MPs to lobby U.S. counterparts on impact of Trump tax in Canada

australia tax

Canada: Thousands of Canadian residents with corporations facing massive U.S. tax bills because of Trump’s tax reform The plight of thousands of Canadian residents facing massive bills as a result of U.S. President Donald Trump’s tax reform, will be on the agenda when a committee of MPs and senators heads to Washington this week. Liberal MP Wayne Easter, co-chair of ... Read More »

Sterling falls amid EU customs union speculation


LONDON: The British pound slipped versus the dollar and fell against the euro on Friday as worries about whether Britain would stay in the European Union’s customs union after Brexit weighed on the currency. Prime Minister Theresa May said on Thursday Britain would leave the EU customs union after Brexit but a source said London was considering a backstop plan ... Read More »

Halifax International Airport Authority and Destination Canada Sign Partnership Agreement


Canada : HALIFAX, May 15, 2018 /CNW/ – Today, Halifax International Airport Authority (HIAA) and Destination Canada signed a marketing partnership agreement during the annual Rendez-vous Canada travel trade show, being held this week at the new Halifax Convention Centre in Halifax, Nova Scotia. The objective of this partnership is to promote visitation from France to Atlantic Canada, aligning the ... Read More »

Year-long pay squeeze comes to an end


Canada : Wages rose at an annual rate of 2.9% in the three months to March, faster than inflation for the first time in more than a year, official figures show. Over the same three-month period, the inflation rate was 2.7%. Inflation started to overtake wages in February last year, squeezing incomes. The Office for National Statistics (ONS) also said ... Read More »

Apple-Samsung patent battle revived in California court

Customs Court adjourns case filed against mobile phone smuggler copy

Canada : Apple and Samsung are facing each other in a California court for a third trial involving the same set of five patents. Apple was originally awarded $1.05bn (£772m) in 2012 after a jury found the South Korean firm had infringed several of the iPhone’s innovations. That sum was reduced to about $400m after the first retrial and other ... Read More »

Canadian economy lost 1,100 jobs in April, but jobless rate holds steady at 5.8%


Canada : Canada’s job market was essentially unchanged in April, as the economy shed 1,100 jobs, but the unemployment rate held steady at 5.8 per cent — tied for its lowest level in 40 years. Statistics Canada reported Friday that goods-producing industries lost almost 16,000 jobs during the month, but the service sector added almost 15,000 to offset that. Economists ... Read More »

‘Cooperation is complementary’

新华社记者 谢环驰 摄

Canada: China and Canada should enhance practical cooperation in areas such as energy, resources, technological innovation and aviation, President Xi Jinping said on Tuesday. China will continue to support domestic companies investing in Canada, and it also welcomes Canadian companies to collaborate on the Belt and Road Initiative, Xi said in a meeting with Canadian Prime Minister Justin Trudeau at ... Read More »

TransCanada unit slashes payout by 35% in wake of U.S. tax change

australia tax

Canada: A publicly-traded unit of TransCanada Corp. has slashed its distribution by 35 per cent in the wake of changes to U.S. pipeline tax policy. TC Pipelines (TCP.N) cut the payout after an American court ruled the Federal Energy Regulatory Commission was unable to prove it could prevent energy infrastructure companies from double-dipping on a tax break. Both TransCanada and ... Read More »

Scotiabank raises 5-year fixed mortgage rate, following peers


TORONTO — Scotiabank has joined its Big Five banking peers in raising its benchmark fixed-rate mortgage rate. Canada’s third-biggest lender raised the posted rate for a five-year fixed-rate mortgage from 5.14 per cent to 5.34 per cent, effective Tuesday, while also increasing the posted rates for other terms. Late last month, TD Bank was the first of the Big Five ... Read More »

Canadians pay some of the highest wireless prices in the world — but report says they’re worth it


Canada: Canadians pay some of the highest prices in the industrialized world for cellphone plans, but a new report argues there are good reasons for it. Published by the Montreal Economic Institute (MEI), a pro-free-market think-tank, the report takes aim at a 2017 wireless price-comparison study, commissioned by the federal government and completed by consulting firm Nordicity. The annual report ... Read More »

Interest high in Indigenous pipeline course


Canada: CALGARY – Gerald Scott’s perspective has shifted since he spent 10 days on the Standing Rock Sioux reservation in North Dakota which — until early last year — was the site of months of high-profile protests against the Dakota Access oil pipeline. Scott, who is from the Swan Lake First Nation in Manitoba, wanted to take a stand against ... Read More »

Canadian business should not ignore the Arab world’s potential


OTTAWA: In 2017, Canadian exports to the Middle East were $5.7-billion and imports were $6.3-billion. While not insignificant, these figures are tiny in comparison to Canada’s overall trade, at just 1 per cent. In sharp contrast, in the same year, Canada’s exports to the United States alone were $415-billion and imports were $288-billion, constituting 76 per cent and 51 per ... Read More »

Canada Urged To Introduce Digital Tax Nexus Rules


OTTAWA: The Canadian Parliament’s international trade committee has recommended that the federal Government tax products supplied to Canadian consumers by online platforms. The Committee said that the Government should “apply sales taxes on tangible and intangible products that are sold in Canada and by foreign sellers, including when such sales occur using an e-commerce platform.” The Committee’s report contained references ... Read More »

Canada further strengthens trade enforcement to protect steel and aluminum workers and industries


OTTAWA:  The Prime Minister, Justin Trudeau, today announced increased funding for the Canada Border Services Agency (CBSA) and Global Affairs Canada to further strengthen Canada’s trade enforcement. This further bolsters Canada’s efforts to prevent transshipment and diversion of unfairly priced foreign steel and aluminum into the North American market. While Canada already has strong and effective enforcement, we are taking these additional steps to ensure our workers and industries ... Read More »

Canada sees progress on Nafta auto rules steel tariffs loom


OTTAWA: Canadian foreign minister Chrystia Freeland said on Wednesday that good progress has been made at the Nafta trade talks on the key issue of auto rules, though the threat of proposed US steel and aluminum tariffs coming into force next week clouded the mood. Ms Freeland, US trade representative Robert Lighthizer and Mexican economy minister Ildefonso Guajardo met for ... Read More »