Canadian businesses to pull back on spending this year

February 28, 2013 under Useful Articles
Theophilos Argitis, Bloomberg News | Feb 27, 2013 10:25 AM ET Canadian investment spending will increase this year at the slowest pace since the 2009 recession, as mining companies curb expenditures and the oil and gas industry cools, a government survey projects. Spending on construction, machinery and equipment will increase 1.7% to $398.2 billion in 2013, following a 7.2% rise in 2012, Statistics Canada said i
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‘I’m afraid of a condo crash’: Canadian real estate investors fret as housing blitz winds down

February 27, 2013 under Useful Articles
Jacqueline Thorpe, Theophilos Argitis and Katia Dmitrieva, Bloomberg News |Feb 27, 2013 10:41 AM ET | Last Updated: Feb 27, 2013 11:35 AM ET Herbert Crockett called Cairo, Geneva and New Delhi home in his four decades as a human resources executive with the World Health Organization. The Prince Edward Island native invested closer to his roots in 2005. With Toronto on the verge of what turned into a colossal bui
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B.C. sees $30-billion LNG windfall – but hurdles are high

February 27, 2013 under Useful Articles
NATHAN VANDERKLIPPE, VANCOUVER — The Globe and Mail - Published Wednesday, Feb. 27 2013, 5:00 AM EST, Last updated Wednesday, Feb. 27 2013, 6:42 AM EST The British Columbia government is promising its fledgling natural gas export industry that an estimated $30-billion in new taxes will not drive companies out of a business they have yet to build. But an analysis by a U.S. economic firm suggests that lique
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CMHC seeking to hide foreclosure information from home buyers

February 27, 2013 under Useful Articles
Garry Marr | Feb 27, 2013 6:00 AM ET | Last Updated: Feb 27, 2013 11:05 AM ET Canada Mortgage and Housing Corp. has been asking realtors for months to keep consumers in the dark about whether the properties it sells are part of a foreclosure, according to a document obtained by The Financial Post. The move, said to be part of CMHC national policy, upset Quebec realtors who refused to play ball, worried about a
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Canada’s big banks line up for earnings season

February 26, 2013 under Useful Articles
John Greenwood | Feb 25, 2013 3:25 PM ET | Last Updated: Feb 25, 2013 8:35 PM ET After an epic spending spree, Canadians are finally putting away their wallets, depriving the banks of a profit wellspring of historic proportions. There is growing anxiety that the pain will show up in first-quarter earnings season that kicks off Tuesday. So far, lenders have taken up the slack of declining loan demand and paper-t
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Home costs take slightly smaller bite of household budget, but Vancouver still least affordable market

February 26, 2013 under Useful Articles
Canadian Press | Feb 25, 2013 8:05 AM ET | Last Updated: Feb 25, 2013 11:22 AM ET TORONTO — A new report says the cost of home ownership in most major Canadian markets was down slightly in the last three months of 2012 but notes that pressure on household budgets remains somewhat above the historical average. “Home ownership costs came down for a second consecutive quarter as a share of household income tha
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Moody’s cuts UK’s coveted top-notch credit rating as economy seen struggling for years

February 25, 2013 under Useful Articles
Daniel Bases, Reuters | Feb 22, 2013 5:37 PM ET | Last Updated: Feb 22, 2013 7:33 PM ET NEW YORK — Moody’s Investors Service on Friday cut the United Kingdom’s credit rating to Aa1 from Aaa, citing weakness in the nation’s medium-term growth outlook that it now expects to extend for a number of years. This is the first of the major credit rating agencies to knock the UK off of its top rating. Moody’s
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Canadian economy gets double blow on inflation, retail trade

February 25, 2013 under Useful Articles
KEVIN CARMICHAEL The Globe and Mail - Published Friday, Feb. 22 2013, 8:45 AM EST, Last updated Friday, Feb. 22 2013, 6:54 PM EST Canada’s economy slowed to stall speed at the end of 2012, putting pressure on the Bank of Canada to extend a period of ultra-low interest rates that already has been locked in for more than two years. Retail sales plunged 2.1 per cent in December, Statistics Canada said Friday,
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Eurozone downturn and deficits to persist, Commission says

February 25, 2013 under Useful Articles
22 February 2013 Last updated at 08:38 ET - BBC © 2013 The eurozone recession will persist into 2013, the European Commission has conceded in its latest forecast. Governments face an uphill battle to rein in their overspending, with Spain, France and Portugal all failing to cut their deficits to agreed targets. Spain’s deficit, at 10.2% of GDP in 2012, was well above its 6.3% target, and would stay above
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Home building slump forecast in latest sign of faltering economy

February 25, 2013 under Home Buyer Resources
Canadian Press | Feb 22, 2013 10:48 AM ET | Last Updated: Feb 22, 2013 1:29 PM ET OTTAWA — Canada Mortgage and Housing Corp. says total annual housing starts are expected to be lower in 2013 compared with last year. CMHC says moderate economic and employment growth in the second half of 2012 have led to more modest housing demand this year. It says employment and economic growth will likely gain momentum late
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