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Tag Archives: Canada

Bank of Canada willing to resort to below-zero interest rate in face of major economic crisis, Poloz says

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TORONTO — The Bank of Canada would be willing to cut its benchmark interest rate to below zero per cent if the country is faced with a major economic shock, says Stephen Poloz, governor of the Bank of Canada. People in Sweden are hiding cash in their microwaves because of …

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Canada’s top 10 pension funds tripled in size since 2003, with assets worth over $1.1 trillion: study

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TORONTO — Canada’s biggest 10 public pension funds now manage assets worth more than $1.1 trillion, having tripled in size since 2003, according to a study published by the Boston Consulting Group on Thursday. The funds have expanded rapidly in recent years, pursuing a strategy of directly investing in assets …

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Canada’s challenge is how to make money selling the world’s cheapest oil — but it can be done

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CALGARY — Rock bottom oil prices could be the single biggest challenge facing Canada’s economy in 2016. Never mind $35 a barrel, Canada’s oil is selling for closer to $20 As oil crashes through $35 in New York today, Alberta, which produces the world’s cheapest oil at the highest cost, …

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EU court backs airlines, including Air Canada, reversing fine over air freight price fixing

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Air France-KLM and 10 other airlines, including Air Canada, have won a challenge against a near 800 million-euro (US$1.2-billion) fine for fixing air freight charges, with Europe’s second highest court saying on Wednesday that it found the EU decision contradictory. The European Commission in a 2010 finding said that 11 …

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Trade war with U.S. likely averted, but Canada keeps retaliation on the table

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A looming trade war between Canada and the U.S. over meat labelling moved closer to resolution Wednesday, but Ottawa is keeping the threat of retaliation on the table until there’s a full surrender south of the border. Two Liberal cabinet ministers refused to withdraw the threat of retaliation following the …

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U.S. real estate firm reaches into Canada: Savills Studley acquires Real Facilities

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One of the large U.S. real estate firms focusing solely on tenants is moving into the Canadian market. Savills Studley is set to announce Monday that it has acquired Toronto-based Real Facilities for an undisclosed amount. The new Toronto office will continue to provide tenant representation, transaction management, capital markets, project …

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Butter shortage forces Canada’s dairy commission to import 8.8-million pounds of butter as cream supply dries up

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During the recent debate over Canada signing the Trans-Pacific Partnership trade agreement, the dairy industry here rolled out a public relations campaign aimed at fighting to keep out imported products and convincing Canadians to cherish instead the bounty of milk, cream and butter that come from our home and native …

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Brain drain threatens Canada’s dominance in artificial intelligence: ‘We are losing our top talent’

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With a tech industry one-third the size of California’s, Canada has confounded expectations by becoming a leader in the booming market for artificial intelligence. Pioneering technologies developed in Canadian labs can be found in Facebook’s facial recognition algorithms, Google’s Photos app, smartphone voice recognition and even Japanese robots. Now Canada …

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Transport Canada eyes more safety tests for Volkswagen amid emissions scandal

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OTTAWA — The federal government has plans to increase the number of Volkswagen vehicles it runs through safety tests in light of an ongoing scandal into their cars being designed to cheat on emissions tests. While there have been no major safety issues with Volkswagens in the last seven years, …

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Canada faces future of ‘stranded assets’ in Trudeau’s low-carbon policy pursuit

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OTTAWA — When star NDP candidate Linda McQuaig mused during the opening days of the federal election campaign that some of Alberta’s oil wealth would have to “stay in the ground” in order to meet Canada’s climate change targets, the remark was treated as a scandalous revelation by her political …

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