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  • 10 Sep 2019 12:40 | Anonymous

    Canada recorded one of its best months of job gains on record in August, a surprising show of strength by a labor market that has relentlessly powered the nation’s expansion.

    The economy added 81,100 jobs last month, Statistics Canada said Friday in Ottawa, versus expectations for a gain of about 20,000. It’s the seventh largest monthly gain in records going back to 1976. Canada has now added 471,300 jobs over the past 12 months, the most in a year since 2003.

    Friday’s jobs report will only reaffirm expectations at the Bank of Canada that the nation’s economy has developed a certain amount of resilience to global trade headwinds, giving the central bank ammunition to buck the global easing trend. For one, the gain in August should ease worries about the extent of any slowdown in the second half of this year.

    “If the Bank of Canada was on the fence about cutting rates in October, today’s jobs numbers might be one further push towards standing pat,” Avery Shenfeld, chief economist at CIBC World Markets, said in a note to investors.

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  • 04 Sep 2019 09:43 | Anonymous

    Canada’s trade deficit widened more than expected as energy shipments abroad declined for a second month, a sign recent export strength could be fading.

    The nation’s merchandise trade gap hit C$1.12 billion ($840,000 million) in July, Statistics Canada said Wednesday from Ottawa. Economists surveyed by Bloomberg were expecting a deficit of C$350 million.

    Exports fell 0.9%, led lower by a 6.7% decline in energy shipments. Crude oil exports pulled back 7.7%. And stripping away price effects, exports edged down 0.1% on the month.

    While economic growth in Canada led the Group of Seven in the second quarter, the expansion was driven primarily by a rebound in oil exports after a half year of dismal growth. Rising global uncertainty amid the escalating trade war between the U.S. and China threatens the northern nation’s export prospects, a topic likely to be addressed by the Bank of Canada at its rate decision later Wednesday morning.

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  • 30 Aug 2019 14:59 | Anonymous

    Sausages, ketchup and mustard, plastic plates — all essential ingredients for Americans tending to their grills this Labor Day weekend. Soon they’ll be 15% more expensive to import from China.

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  • 30 Aug 2019 14:48 | Anonymous

    India’s waning consumption and a deteriorating global environment deepened a slowdown in Asia’s third-largest economy, nudging its government into action to supplement the central bank’s monetary stimulus.

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  • 21 Aug 2019 09:59 | Anonymous

    President Donald Trump on Tuesday described the prospect of the US falling into recession as "irrelevant" and defended his decision to wage a trade war with China.

    During a White House visit by Romanian President Klaus Iohannis, Trump was asked about concerns that his trade war with China was dragging down the US economy.

    "Somebody had to take China on," Trump replied. "And it's about time, whether it's good for our country, or bad for our country short term.

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  • 12 Aug 2019 12:03 | Anonymous

    Facebook Inc. is participating in a $125 million fundraising for an Indian startup that is aiming to bring more commerce to social networks like, well, Facebook.

    Meesho, based in Bangalore, is what’s known in the tech industry as a social commerce startup, allowing people to build connections online and then sell through services such as Facebook and its WhatsApp and Instagram services. The funding round was led by South Africa’s Naspers Ltd. and also included Sequoia, Shunwei Capital, Venture Highway and Arun Sarin, the former chief executive officer of Vodafone Group Plc.

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  • 09 Aug 2019 15:06 | Anonymous

    Here’s an item on President Donald Trump’s trade agenda that relies on Democrats’ help that’s progressing surprisingly well: his new Nafta, dubbed the U.S.-Mexico-Canada Agreement.

    The key ingredient so far? His day-to-day outbursts against the opposition are far removed from the process, people involved in the talks say.

    After weeks of discussions between Trade Representative Robert Lighthizer and lawmakers, negotiators last week put pen to paper and are now working full steam to get to a resolution on issues that House Speaker Nancy Pelosi and her caucus want changed before the agreement could come up for a vote.

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  • 08 Aug 2019 12:35 | Anonymous

    Mitchell Cohen writes policy papers and show tunes about affordable housing. He wears a pork pie hat, favors fleece over pinstripes and is easy to tear up when talking about local “empowerment.”

    He’s also president of The Daniels Corp., one of Canada’s biggest developers. 

    The closely held firm has built about 30,000 homes around Toronto, a quarter of which were sold below-market prices. It’s also a lead developer in the transformation of Regent Park, one of North America’s biggest social-housing makeovers -- and the subject of Cohen’s musicals.

    Being an affordable housing advocate and a big-time developer may not be a contradiction for Cohen. But he said governments are going to have to nudge more companies into action to tackle the growing affordability crisis.

    “Without the government engagement, the private sector is not going to create affordable housing,” said the 68 year old in an interview at Bloomberg‘s Toronto office.

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  • 02 Aug 2019 21:03 | Anonymous

    Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.

    Beijing pledged to respond if the U.S. insists on adding extra tariffs to the remainder of Chinese imports, as President Donald Trump’s abrupt escalation of the trade war between the world’s largest economies sent stocks tumbling across three continents.

    Trump announced Thursday that he would impose a 10% tariff on a further $300 billion in Chinese imports, a move set to hit American consumers more directly than his other tariffs so far. The new duties, which Trump said could go “much higher,” will be imposed beginning Sept. 1 on a long list of goods expected to include smart-phones, laptop computers and children’s clothing.

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  • 26 Jul 2019 11:51 | Anonymous

    Canadians are starting to see a pickup in their wages, a positive sign for the domestic economy amid growing global uncertainty.

    Average weekly earnings for Canadian workers rose 3.4% in May from a year earlier to C$1,031 ($784), the fastest pace of growth since February 2018, Statistics Canada said Thursday in Ottawa. The Survey of Employment, Payrolls and Hours also showed firms added 32,600 jobs on the month, the most since January.

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