Canadian Economic News
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Building Permits Drop -2.9%
Alberta and Ontario see gains in Non-residential building which means places that create jobs. Look in the stats for towns and cities as another tool for your property gold mine score card
http://www.statcan.ca/Daily/English/080306/d080306a.htm
Regards,
Alberta and Ontario see gains in Non-residential building which means places that create jobs. Look in the stats for towns and cities as another tool for your property gold mine score card
http://www.statcan.ca/Daily/English/080306/d080306a.htm
Regards,
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Carney Signals More Rate Cuts to Boost Canada`s Economic Growth
Mark Carney, who used his first decision as Bank of Canada governor to cut interest rates half a point yesterday, may follow with quarter-point moves at his next two meetings amid a slump in exports, a Bloomberg survey shows. Carney highlighted an ``intensifying`` export slump caused by a slowing U.S. economy and a high Canadian dollar, in explaining the country`s biggest easing since 2001. The central bank`s statement also said more ``stimulus`` is probably needed to prop up the world`s eighth-largest economy and keep inflation from sliding below its 2 percent target.
http://www.bloomberg.com/apps/news?pid=206...mp;refer=canada
Mark Carney, who used his first decision as Bank of Canada governor to cut interest rates half a point yesterday, may follow with quarter-point moves at his next two meetings amid a slump in exports, a Bloomberg survey shows. Carney highlighted an ``intensifying`` export slump caused by a slowing U.S. economy and a high Canadian dollar, in explaining the country`s biggest easing since 2001. The central bank`s statement also said more ``stimulus`` is probably needed to prop up the world`s eighth-largest economy and keep inflation from sliding below its 2 percent target.
http://www.bloomberg.com/apps/news?pid=206...mp;refer=canada
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International scheme victimizes 2,500 investors
More than 2,500 investors across Canada may be victims in an international investment scheme that offered guaranteed commissions and high annual returns of 87.5 per cent, say regulators in British Columbia and Manitoba.
The B.C. and Manitoba securities commissions launched investigations Wednesday into an offshore financial company called Gold-Quest International.
http://www.canada.com/vancouversun/news/bu...3b-41f76cd3505e
More than 2,500 investors across Canada may be victims in an international investment scheme that offered guaranteed commissions and high annual returns of 87.5 per cent, say regulators in British Columbia and Manitoba.
The B.C. and Manitoba securities commissions launched investigations Wednesday into an offshore financial company called Gold-Quest International.
http://www.canada.com/vancouversun/news/bu...3b-41f76cd3505e
Canada adds 43k new jobs
Ontario adds 46k new jobs with just over 39k being full time employment.
Maybe I should have put this in the Ontario section but has stats for everywhere else as well.
http://www.statcan.ca/english/Subjects/Labour/LFS/lfs-en.htm
Ontario adds 46k new jobs with just over 39k being full time employment.
Maybe I should have put this in the Ontario section but has stats for everywhere else as well.
http://www.statcan.ca/english/Subjects/Labour/LFS/lfs-en.htm
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Canadians have dim view of new lightbulbs
OTTAWA -- The federal government`s plan to phase out incandescent light bulbs isn`t such a bright idea, according to Canadians who wrote to the federal Environment Department.
Environmentalists think the plan to ban the energy-sucking incandescent bulbs by 2012 makes perfect sense.
But in 33 pages of feedback on the plan from Canadians to the federal government, people were almost unanimous in panning the initiative. They didn`t like being forced to make the change, argued the new bulbs wouldn`t fit their lamp shades, worried about more mercury being released into the environment, and said they had major health concerns.
http://www.canada.com/reginaleaderpost/new...8b-25413a3b9f84
OTTAWA -- The federal government`s plan to phase out incandescent light bulbs isn`t such a bright idea, according to Canadians who wrote to the federal Environment Department.
Environmentalists think the plan to ban the energy-sucking incandescent bulbs by 2012 makes perfect sense.
But in 33 pages of feedback on the plan from Canadians to the federal government, people were almost unanimous in panning the initiative. They didn`t like being forced to make the change, argued the new bulbs wouldn`t fit their lamp shades, worried about more mercury being released into the environment, and said they had major health concerns.
http://www.canada.com/reginaleaderpost/new...8b-25413a3b9f84
Canadian Housing starts up. Numbers in BC, ON Quebec looking good with starts falling in the prairie provinces.
http://www.economicnews.ca/login.php?page=...nomic%20Reports
http://www.economicnews.ca/login.php?page=...nomic%20Reports
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Rising metal prices defy economic outlook
While stock markets plunge in 2008, the physical building blocks of economic growth -- metals such as copper and aluminium -- have defied fears of bad times ahead for the world economy by jumping up to 30 per cent.
Investors seeking profits as other parts of the economy suffer have poured money into the sector, and now some analysts believe speculative fervour has overcome fundamental logic.
http://www.canada.com/calgaryherald/news/c...24-e84fa25aace1
While stock markets plunge in 2008, the physical building blocks of economic growth -- metals such as copper and aluminium -- have defied fears of bad times ahead for the world economy by jumping up to 30 per cent.
Investors seeking profits as other parts of the economy suffer have poured money into the sector, and now some analysts believe speculative fervour has overcome fundamental logic.
http://www.canada.com/calgaryherald/news/c...24-e84fa25aace1
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Gold sets record on dollar, futures hit $1,000
LONDON (Reuters) - Spot gold prices hit an all-time peak in Europe on Thursday as a dollar slump and inflation fears prompted investors to look for safe-haven assets.
Spot gold rose as high as $999.90 an ounce and was at $991.00/991.80 at 2:15 p.m EDT (1815 GMT), compared with $981.90/982.70 late in New York on Wednesday.
This sparked buying of U.S. gold futures, which extended a record-breaking advance across the $1,000-an-ounce threshold. Analysts said spot prices could soon reach that level as well.
http://www.canada.com/edmontonjournal/news...ef2&k=38573
I included this article because the world is losing faith in the US dollar and investors are looking for a safe haven to place their money. In uncertain times, hard assets (i.e. things you can touch) outperform paper assets (stocks, bonds, mutual funds). Generally speaking, the worldwide trend is towards hard assets such as gold, silver, uranium, oil and real estate.
LONDON (Reuters) - Spot gold prices hit an all-time peak in Europe on Thursday as a dollar slump and inflation fears prompted investors to look for safe-haven assets.
Spot gold rose as high as $999.90 an ounce and was at $991.00/991.80 at 2:15 p.m EDT (1815 GMT), compared with $981.90/982.70 late in New York on Wednesday.
This sparked buying of U.S. gold futures, which extended a record-breaking advance across the $1,000-an-ounce threshold. Analysts said spot prices could soon reach that level as well.
http://www.canada.com/edmontonjournal/news...ef2&k=38573
I included this article because the world is losing faith in the US dollar and investors are looking for a safe haven to place their money. In uncertain times, hard assets (i.e. things you can touch) outperform paper assets (stocks, bonds, mutual funds). Generally speaking, the worldwide trend is towards hard assets such as gold, silver, uranium, oil and real estate.
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The taxman`s view of your business loss
I still recall the talk I had with my son four years ago after he punched his sister. You see, he was five years old at the time, she was four, and he had just returned from his Taekwondo class. After the incident, I explained to my son that we were going to take him out of Taekwondo if he was going to use it on his sister. "But Dad," he replied, "that wasn`t my Taekwondo punch, it was a regular punch." In his mind, there was a subtle difference between the two.
Subtle differences can create confusion, or grey areas, when it comes to tax planning. There can be, for example, a subtle difference between a business and a hobby. If you`re thinking of reporting "business" activity on your tax return this year, and you`re expecting to report a loss, understand the taxman`s viewpoint first.
http://www.theglobeandmail.com/servlet/sto...mnsBlogs/?query=
I still recall the talk I had with my son four years ago after he punched his sister. You see, he was five years old at the time, she was four, and he had just returned from his Taekwondo class. After the incident, I explained to my son that we were going to take him out of Taekwondo if he was going to use it on his sister. "But Dad," he replied, "that wasn`t my Taekwondo punch, it was a regular punch." In his mind, there was a subtle difference between the two.
Subtle differences can create confusion, or grey areas, when it comes to tax planning. There can be, for example, a subtle difference between a business and a hobby. If you`re thinking of reporting "business" activity on your tax return this year, and you`re expecting to report a loss, understand the taxman`s viewpoint first.
http://www.theglobeandmail.com/servlet/sto...mnsBlogs/?query=
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Inflation slows in February
OTTAWA - The rate of inflation slowed further in February to its lowest level in six months, due to less pressure from gasoline prices.
Consumer prices rose at a yearly pace of 1.8 per cent in February, compared with a rise of 2.2 per cent in January, Statistics Canada said on Tuesday.
Gasoline prices climbed 17.1 per cent in February compared with a year earlier, down from the 12-month increase of 20.9 per cent in January.
http://www.canada.com/vancouversun/news/st...f1b&k=96975
OTTAWA - The rate of inflation slowed further in February to its lowest level in six months, due to less pressure from gasoline prices.
Consumer prices rose at a yearly pace of 1.8 per cent in February, compared with a rise of 2.2 per cent in January, Statistics Canada said on Tuesday.
Gasoline prices climbed 17.1 per cent in February compared with a year earlier, down from the 12-month increase of 20.9 per cent in January.
http://www.canada.com/vancouversun/news/st...f1b&k=96975
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Paying off mortgage priority for new homeowners
CALGARY - A report released today by Canada Mortgage and Housing Corporation shows that 78 per cent of Canadians who recently purchased a new home intend to pay off their mortgage as quickly as possible, and many have already taken steps toward that goal.
http://www.canada.com/calgaryherald/news/s...88f&k=51311
CALGARY - A report released today by Canada Mortgage and Housing Corporation shows that 78 per cent of Canadians who recently purchased a new home intend to pay off their mortgage as quickly as possible, and many have already taken steps toward that goal.
http://www.canada.com/calgaryherald/news/s...88f&k=51311
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What is a REIT anyhow?
REITs are like those books that everybody quotes but nobody has read. So, let`s just say that a Real Estate Investment Trust (REIT) is like a mutual fund that deals only in real estate investments. You put your money in a common pool with which properties are bought, sold and moved in and out by a fund manager. As an owner of shares in the REIT, you will get a proportional profit as share value appreciates.
http://www.canada.com/vancouversun/news/st...cb-a55d649c03a8
REITs are like those books that everybody quotes but nobody has read. So, let`s just say that a Real Estate Investment Trust (REIT) is like a mutual fund that deals only in real estate investments. You put your money in a common pool with which properties are bought, sold and moved in and out by a fund manager. As an owner of shares in the REIT, you will get a proportional profit as share value appreciates.
http://www.canada.com/vancouversun/news/st...cb-a55d649c03a8
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Giving money away can buy happiness, research finds
Money can buy happiness, according to a study by University of B.C. psychologist Elizabeth Dunn. Even spending $5 in the right way can make you happier.
But people usually get it wrong when they try.
Dunn had always been nagged by the notion that money can`t buy happiness. Reliable research across the developed world finds that once a person`s basic needs are being met, surging incomes are only marginally related to happiness. A wealthy nation is not necessarily a happy nation.
http://www.canada.com/vancouversun/news/st...97-698952dff040
Money can buy happiness, according to a study by University of B.C. psychologist Elizabeth Dunn. Even spending $5 in the right way can make you happier.
But people usually get it wrong when they try.
Dunn had always been nagged by the notion that money can`t buy happiness. Reliable research across the developed world finds that once a person`s basic needs are being met, surging incomes are only marginally related to happiness. A wealthy nation is not necessarily a happy nation.
http://www.canada.com/vancouversun/news/st...97-698952dff040
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Tax man chases scammers -- and the`victims`
My editor breathlessly relayed the news: This could be my big chance to expose the Canada Revenue Agency doing something right!
I was intrigued. This would be quite a change-of-pace from the taxpayer abuse columns I`ve been writing of late.
What triggered this enthusiasm was a news release noting that more than 300 CRA investigators have conducted 50 raids across Western Canada in the last week in a crackdown on RRSP and investment fraud.
http://www.canada.com/vancouversun/news/bu...5bce3c9&p=1
My editor breathlessly relayed the news: This could be my big chance to expose the Canada Revenue Agency doing something right!
I was intrigued. This would be quite a change-of-pace from the taxpayer abuse columns I`ve been writing of late.
What triggered this enthusiasm was a news release noting that more than 300 CRA investigators have conducted 50 raids across Western Canada in the last week in a crackdown on RRSP and investment fraud.
http://www.canada.com/vancouversun/news/bu...5bce3c9&p=1
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Just what is wealth management?
Investors work, save and invest to achieve their goals. But how conversant are they with the real meaning of wealth management?
I`m reminded of the song Follow the Yellow Brick Road from the classic 1939 children`s movie Wizard of Oz. A timeless line from it goes, "Becoz of the wonderful things he does." Our oldest must have watched the movie at least 200 times.
Well, investors may face a host of roads. The lack of time is a frequent gripe when it comes to managing personal wealth effectively. It also requires extensive expertise in a variety of areas and the ability to stitch them together.
http://www.canada.com/vancouversun/news/bu...458072b&p=1
Investors work, save and invest to achieve their goals. But how conversant are they with the real meaning of wealth management?
I`m reminded of the song Follow the Yellow Brick Road from the classic 1939 children`s movie Wizard of Oz. A timeless line from it goes, "Becoz of the wonderful things he does." Our oldest must have watched the movie at least 200 times.
Well, investors may face a host of roads. The lack of time is a frequent gripe when it comes to managing personal wealth effectively. It also requires extensive expertise in a variety of areas and the ability to stitch them together.
http://www.canada.com/vancouversun/news/bu...458072b&p=1
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Canada on brink of water crisis, official says
The country is on the brink of a freshwater crisis and if we don`t start to take action the economy will suffer, according to the chairman of the Canadian Partnership Initiative of the UN Water for Life Decade.
But Canadians, it seems, are blissfully unaware. According to an RBC poll out this week 80 per cent of Canadians are "confident" that Canada has enough fresh water to meet the country`s long-term needs and two-thirds of respondents don`t think there is a water shortage problem at all.
http://www.canada.com/vancouversun/news/bu...c9-ea27930ed623
The country is on the brink of a freshwater crisis and if we don`t start to take action the economy will suffer, according to the chairman of the Canadian Partnership Initiative of the UN Water for Life Decade.
But Canadians, it seems, are blissfully unaware. According to an RBC poll out this week 80 per cent of Canadians are "confident" that Canada has enough fresh water to meet the country`s long-term needs and two-thirds of respondents don`t think there is a water shortage problem at all.
http://www.canada.com/vancouversun/news/bu...c9-ea27930ed623
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Mutual fund tax slips may show big capital gains
Are you waiting for more tax slips to finish your 2007 income tax return? Note that March 31 is the deadline for mutual funds (and income trusts) to mail out T3 slips.
Many investors will be understandably annoyed by rather large capital gains distributions shown on their T3 tax slips. How can there be capital gains to distribute when the equity mutual fund unit price has dropped in recent months?
http://www.canada.com/saskatoonstarphoenix...d4-b6a32fb02691
Are you waiting for more tax slips to finish your 2007 income tax return? Note that March 31 is the deadline for mutual funds (and income trusts) to mail out T3 slips.
Many investors will be understandably annoyed by rather large capital gains distributions shown on their T3 tax slips. How can there be capital gains to distribute when the equity mutual fund unit price has dropped in recent months?
http://www.canada.com/saskatoonstarphoenix...d4-b6a32fb02691
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Tax expert has a word for giving for profit: `Scam`
Canadian tax experts warn taxpayers to steer clear of charity donation programs that earn a profit for the donor.
So-called tax shelter gifting arrangements
undermine federal and provincial charitable tax credit provisions and hurt the charities they are supposed to be aiding, tax experts say.
http://www.canada.com/edmontonjournal/news...46-8509f010b419
Canadian tax experts warn taxpayers to steer clear of charity donation programs that earn a profit for the donor.
So-called tax shelter gifting arrangements
undermine federal and provincial charitable tax credit provisions and hurt the charities they are supposed to be aiding, tax experts say.
http://www.canada.com/edmontonjournal/news...46-8509f010b419
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Climate change to hike insurance premiums
Get ready to pay more on your insurance premiums. And you can thank poor weather for that as well.
Canadian insurers are warning that climate change is forcing them to re-examine their coverage policies as costs spiral upward from floods, wind storms and other natural phenomena.
http://www.canada.com/calgaryherald/news/s...c1-7fb66501f18b
Get ready to pay more on your insurance premiums. And you can thank poor weather for that as well.
Canadian insurers are warning that climate change is forcing them to re-examine their coverage policies as costs spiral upward from floods, wind storms and other natural phenomena.
http://www.canada.com/calgaryherald/news/s...c1-7fb66501f18b