Friday , December 3 2021

Markets rise as oil rises – Business News



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Canada's main stock index climbed higher in the morning trade, which increased by the energy sector, favored by higher oil prices.

The S & P / TSX composite index increased 77.21 points at 14.494.10.

In New York, Dow Jones's industry average reached 180.44 points at 23 856.08. The S & P 500 index was 19.45 points at 2,565.61, while the Nasdaq composite material was 46.54 points at 6.830.45.

The Canadian dollar was traded for 74.52 cents US compared to an average of 74.33 cents US on Tuesday.

The raw contract in February was $ 1.56 at $ 48.16 per barrel and the January-Natural Gas Agreement was 25.8 cents at 3.58 USD per mmBTU.

The gold contract in February was up 5 US dollars per US $ 1,258.60 per ounce and March copper contract increased 2.40 cents at 2.69 US dollars per pound.

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December 19, 2018 / 7:00 | Story:
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Nearly two dozen consumer, privacy and public health groups urge US regulatory authorities to investigate whether children are being threatened with fraudulent apps in Google's smartphone apps store running on their Android software.

The 102-page complaint filed Wednesday with the Federal Trade Commission claims that the Google Play Store is hurting children by allowing privacy-violated apps, containing adult content or containing manipulative advertising in a portion of their Playstore intended for children.

The discussion about FTC action is led by two groups, a commercial childhood campaign and the Digital Democracy Center, which has previously attacked Google's strategy for children. In April, they asked the FTC to crack down on Google's YouTube Video Page for alleged violations of children's privacy on the Internet.

Twenty other groups, including consumer action, public citizens and the US Public Interest Research Group, joined the latest complaint.

Google issued a statement stating its commitment to protecting children while online – one of the reasons the company says it prohibits targeted advertising for children under 13.

"We take these questions very seriously and continue to work hard to remove content inappropriate to children from our platform," said Google.

More than 2 billion units worldwide are powered by Google's software, with a significant number used by minors. The complaint focuses on alleged misunderstanding according to US laws and regulations.

The attempt to push the FTC to open an investigation is in the midst of an intensified adversity against Google, Facebook and other companies that make the most of their money by using their free services to track people's interests and places of residence and then mining that information to sell ads aimed at them.

Anxiety has raised the congressional language skills that elaborate tougher regulations to limit the power of the technology industry and limit its ability to compile digital documents about those people who are increasingly dependent on their services.


December 19, 2018 / 5:47 am | Story:
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UPDATE 5:47 AM

The Canadian inflation rate fell sharply last month to 1.7 percent, as the increase in pressure from higher gasoline prices declined.

Statistics Canada's latest inflation number was the weakest year's increase since January 2018 – and significantly cooler than the 2.4 percent reading in October.

Economists had expected an increase of 1.8 percent, according to Thomson Reuters Eikon.

Statistics Finland says pump prices dropped by 5.4 percent compared with a year ago due to a decline in global oil prices. Excluding gasoline, inflation should have increased 1.9 percent.

The average of the Agency's three core inflation, which releases more volatile items like gas prices, fell to 1.9 percent last month from two percent in October. All three core readings are now 1.9 percent – below the ideal target for two percent of the bank in Canada.

The central bank is paying close attention to core inflation before its interest rate decision. The weaker treatment is likely to add the argument that Governor Stephen Poloz leaves his reference rate unchanged at next month's policy meeting.

The bank can raise its trend rate as a way to keep inflation too high.


ORIGINAL 5:30 a.m.

Statistics Finland says that the consumer price index in November increased by 1.7 percent compared with a year ago.

The move was compared with an increase of 2.4 percent in October.

Economists had expected an increase of 1.8 percent, according to Thomson Reuters Eikon.

More will come.

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December 18, 2018 / 8:54 pm | Story:
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A Nova Scotia subsidiary has ordered fishermen to stop blocking survey vessels hired by a pulp mill, in a decision following protests, claiming that they opposed the company's plans to pump outflow into the Northumberland Strait.

The temporary ban, justified by Justis Denise Boudreau in the Supreme Court of Nova Scotia, was recently in an increasingly tense conflict over a proposal from Northern Pulp to dump over 62 million liters per day of treated waste in the rich fishing grounds.

The company, a subsidiary of Paper Excellence, has said that the outflow will comply with federal regulations for emissions, but opponents there is a lack of solid scientific evidence of how the waste will affect the long-term health of lucrative lobster and crab fish.

Northern Pulp plans to return to court on January 29th to seek a long-term ban.

Allan MacCarthy, one of the fishermen ordered to stop blocking the company's seismic ship, said outside court that he would follow the order. However, he referred to the decision as just "a skirmish" in his industry's long-term battle with Northern Pulp.

Hours earlier demonstrated the protests outside the town hall: "All I want for Christmas is no pipeline."

Fishermen and members of Pictou Landing First Nation said they will renew their efforts to stop the pipeline from continuing.

Warren Francis, a 49-year-old fisherman and member of Pictou Landing First Nation, said other protests come.

"I do not think it will stop us. My first nation has to get up. There are others who are willing to do the same as these guys have done," said Francis, referring to the three fishermen appearing in court.

When a small group of pro-pipeline protesters arrived at the scene, the police had to intervene when the two sides met in a farm in front of the town hall.

Ben Chisholm, a 65-year-old Pipefitter Union Union business agent, said he came to support the operations, as millions of dollars in economic activity could get lost if the mill was closed.

"There is more support to keep the mill open and clean it than it is to close it," he said in an interview.

In his decision, Boudreau said that while the fishermen are entitled to "legal protests" they are not entitled to prevent the survey vessels from doing their job.

"Legal protest does not include the description of what has been put forward in the evidence," she said in her decision.

She also agreed with the company that the issue is an important issue, as the survey vessels must do their work before winter ice creates a delay that lasts until spring.

The Nova Scotia government has undertaken to stop the flow of wastewater into the heavily polluted boat harbor lagoon by January 31, 2020. The lagoon is located next to Pictou Landing First Nation.

The lagoon has been referred by a liberal minister as one of Canada's worst examples of "environmentalism".

Boudreau cited evidence presented by Northern Pulp's lawyer Harvey Morrison, of video films showing blockades of the seismic ships.

"They have described events as harassment," Boudreau told the court.

"In October and November 2018 the difficulties became accentuated, the difficulties became more aggressive."

She also noted evidence of threats made both on the water and in social media.

One of the affairs of Northern Pulp claims that at one point the fishermen shouted at the survey vessel that "20 boats would kill" the seismic boat's employees.

The claims have not been proved in court.

The referee also said that she agreed to stop the blockade being "urgent" and there was evidence of a serious economic impact if the plant was eventually closed due to the actions of the fishermen.

"I accept, at least temporarily, it could be harm here that would be irreparable," she said.

An affidavit sent by Bruce Chapman, Bruce Chapman, says that if the plant was closed, it would mean termination of 277 employees, while 40 related workers and forest workers would lose their jobs.

Chapman said there would be no work for the approximately 600 employees of contractors who harvest wood to the mill.

In addition, affidavit says that the mill supplies about 40 percent of the logs used by large sawmills in central and eastern Nova Scotia. In addition, the mill buys almost all wood chips produced by the major sawmills in the province.


December 18, 2018 / 12:40 | Story:
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Tech entrepreneur Elon Musk is set to reveal a subway tunnel that can move people faster than subways.

Musk is also planning to show off the autonomous cars that will carry people through the test tunnel, which runs about 2 miles below the streets of Hawthorne, California, Musk's SpaceX headquarters. He is also planning to reveal lifts as he says will bring the users own cars from street level to tunnel.

Tuesday's reveal comes almost two years to the day since Musk announced on Twitter that "traffic drives me nuts" and he "was going to build a tunnel drill and just start digging".

"I'm actually going to do this," he added in response to initial skepticism.

Then The Boring Company began to swallow the child intentionally. Since the announcement, Musk has revealed a handful of pictures and video clips of the tunnel's progress.

The tunnel, intended to be a "proof of concept", is used to help Musk and The Boring Company to conduct research and development for a broader system in traffic-related Los Angeles and beyond.

One, known as Dugout Loop, would take Los Angeles baseball fans to Dodger Stadium from one of three subway stations. Another would take travelers from downtown Chicago to the O & Hare International Airport. Both projects are in the environmental impact phase.

Boring Company canceled its plans for another test tunnel on Los Angeles west side last month after a neighboring coalition left a trial that expressed concern about traffic and disturbances from trucks that removed dirt during the boring process.

Musk has described a system where vehicles would sink through tunnels in tunnels and move on power-driven platforms known as skates. Up to 16 pedestrians and cyclists can embark on autonomous vehicles that also go skating as fast as 150 km / h.


December 18, 2018 / 11:36 | Story:
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Another gloomy forecast for B.C. housing market, one day after the Canadian real estate company predicted home sales continues to dip next year.

The Central One Credit Union, which provides services to more than 300 credit unions across Canada, says in its housing forecast for 2018-2021 that B.C. experienced a "mild provincial housing residency" this year.

The report points to the federal government's hypothesis test, higher interest rates and different regional policy measures for the decline, and predicts "rising but subdued sales" in the next three years, with little movement in median home prices.

Bryan Yu, Central 1 Deputy Chief Economist, says builders have noted the change and the result is a sharp drop in housing start since September, especially in urban areas.

He says begins in B.C. is expected to fall to approximately 32,000 units in each of the next two years after nearly 40,000 units were under construction this year and 43,500 in 2017.

But the update also predicts positive housing outlook in some areas, including Vancouver Island, where senior citizens burn the market and in northern B.C. where demand increases with a liquid natural gas project and associated pipelines.

As workforce appears on the LNG Canada project of $ 40 billion in Kitimat, Central 1 says that housing markets in the north are expected to surpass those in southern B.C. which was the hardest hit this year.

"Sales in BCC's combined metro markets in Vancouver, Abbotsford-Mission, Kelowna and Victoria are 40 percent lower compared to the end of 2017, under the leadership of the markets in Lower Mainland," said Yu in a press release.

The report shows annual resale trading transactions declined 17 percent in 2018 and median retail prices fell 2 percent to 520,000 dollars.

"Gone are the days of rapid price increase," says Yu.

Negative growth in housing investment will go on the wider B.C. economy, but the central 1 update says that the effect should be diverted by current consumer demand in terms of the lowest unemployment in Canada, high vacancies, payroll gains and population growth.


December 18, 2018 / 10:23 | Story:
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More than a third of Canadian exporters say they have been adversely affected by steel and aluminum tariffs that affect trade with Canada and the United States, according to a study by Export Development Canada.

The Ottawa-based crown company said Tuesday that among companies claiming that they suffered from these tariffs, 19 percent have in turn raised prices and 18 percent have found alternative markets and suppliers.

And while the US-Mexico and Canada-USMCA agreement, or USMCA, has slight uncertainty, the findings of the federal government's latest survey show that exporters' confidence has endure broader global trade tensions like those between the US and China, "said Peter Hall, chief economist at EDC.

Exporters' expectations have now come back to earth, said Hall.

"Now we face potentially much more serious global protectionist measures … A conflict between China and the United States where there are some very concrete tariffs in place that are global trade inhibitors," he said in an interview.

The federal agency's half-year survey showed that overall trade confidence fell to 73.8 percent, which dropped from 76.5 percent on the previous questionnaire six months earlier when the spirits of exporters arose from strong economic activity despite North America's commercial concerns.

In September, Canada, the United States and Mexico finally reached an agreement to replace the North American Free Trade Agreement, which ended with uncertainty months. Strong US steel and aluminum tariffs hit Canada and Mexico during the strained negotiations remain.

Meanwhile, the US and China's trade war had risen until the two economic superpowers reached a brutality earlier this month. However, the arrest of a top Chinese technology manager in Vancouver at the request of US authorities can counter this oppression.

The federal agency, which supports export-oriented companies, conducted a telephone survey of 1000 small, medium and large Canadian exporters from 23 to 13 November, and found that the signature of USMCA had a remarkable impact on their investment plans.

With a deal, about 41 percent of the companies surveyed now reached that they have increased or considered increased investment – more than twice as many companies from six months before when a continental trade agreement was still in limbo.

The percentage of companies saying that the delayed plans due to trade negotiations have decreased to 35 percent, from 57 percent of the six months previously investigated.

But 34 percent of the investigated exporters said they were adversely affected by steel and aluminum tariffs, more than expected by EDC, Hall said.


December 18, 2018 / 7:59 am | Story:
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Amazon says it plans to create 600 new tech jobs in Toronto.

The online retailer says that the job will be in areas such as software development, machine learning and cloud computing.

The message comes as Amazon expands its office in Toronto center core.

The city was on short list to host the company's highly sought after other headquarters, but eventually lost to New York City and Arlington, Va.

If the Toronto region had won that bid, it had landed 50,000 Amazon jobs.

Amazon says it currently has more than 800 corporate executives in Toronto.


18 Dec, 2018 / 7:24 am | Story:
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Statistics Canada says manufacturing sales dropped 0.1 percent in October to $ 58.2 billion, a weaker report than expected economy.

The decline came as sales in the wood product and industry in the primary metal decreased, partly offset by higher sales in the food industry.

Economists had expected an increase of 0.4 percent, according to Thomson Reuters Eikon.

In total, sales fell in seven of 21 trace sectors, representing 40.5 percent of the manufacturing sector.

Sales of durable goods fell by 0.9 percent to $ 30.0 billion while sales of non-durables rose 0.7 percent to $ 28.3 billion.

Revenues increased by 0.2 percent in constant dollars, indicating a higher volume of goods sold.


18 Dec, 2018 / 6:47 am | Story:
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Marijuana Company Tilray Canada Ltd. has signed a new agreement to collaborate with Sandoz AG, part of Novartis pharmaceutical group.

The companies say they will work together to increase the availability of high quality medical cannabis products worldwide.

They say it's the development of an existing alliance between Tilray and Sandoz Canada. Financial terms were not disclosed.

Under the new agreement, Sandoz can support Tilray's commercialization of non-smokeless and non-combustible medical cannabis products and work together to develop new products.

They can also work together to educate doctors and doctors on medicinal cannabis products.

Tilray Canada is a subsidiary of Tilray Inc., which is listed on the Nasdaq Stock Exchange and operates in Australia, New Zealand, Germany, Latin America, Portugal and Canada.


December 18, 2018 / 5:46 am | Story:
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Canada has the world's fifth largest artificial intelligence, but is still far from closing gender segregation within the sector, according to new World Economic Forum rankings.

The international organization used LinkedIn data to find the size of Canada's AI employees behind the United States, India, Germany and Switzerland, but hit dozens of countries, including France, Spain, Singapore and Sweden.

However, the Forum found as part of its annual ranking of gender differences that women only represent 24 percent of Canada's AI labor force and 22 percent of the world's AI employees.

The Forum said that the lack of women in Canada and the global AI pool is worrying as it means that technology is developing without versatile talent, which "limits its innovation and inclusive capacity".

Low integration of women in AI talent poles, says it, is an "importantly missed opportunity in a professional domain where there is already insufficient supply of sufficiently qualified work". If not addressed soon, the forum warned that the gap could be broadened further.

Sarah Kaplan, Head of the University of Toronto Institute for Gender and Economy, said that Canada needs to do more to develop the diversity of AI labor because technology has the potential to replace many human processes and decisions.

"If we do not have a versatile workforce working in AI, we risk not only consolidating existing prejudices but actually reinforcing them and leading to really negative results for the most vulnerable people in our society," she said.

Despite the country's successes in the AI, Wallis said that Canada should still be better at scaling its technology and focusing on women's enrollment in technology-related courses.

Apart from notices about AI labor, the forum also revealed Monday that Canada ranked 16 in its annual gender gap ranking.

It marked the second year as Canada was placed 16th in the international organization's list, which measures economic, pedagogical, health and political differences experienced between men and women in more than 100 countries around the world.

Iceland, Norway, Sweden and Finland took the best spots, but Canada was ranked across Latvia, Bulgaria, South Africa, Switzerland and dozens of other countries.

In terms of wage evolution, Canada ranked 50, behind the United States, Germany, Thailand, Uganda and Ukraine.

The World Economic Forum said this year that the global gender layer was closed slightly after enlargement for the first time in a decade last year.

The organization estimates that it will take 108 years to close the gender gap between politics, work, health and education, but 202 years to close gender differences in the workplace.


17 Dec, 2018 / 4:13 pm | Story:
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The Liberals will publish the draft text on their long-paid Air Passenger Identification of Rights on Saturday and launch a 60-day public consultation for any final changes. Here are six things to know about the rules.

  • For major airlines, compensation for delays and cancellations is based on how many hours you arrive at your destination – as long as the causes of the delay were within the airline's control and not related to security issues. All figures, when completed, will increase with inflation.

For delays between three and six hours, the compensation is $ 400. Between six and nine hours, $ 700. And over nine hours is $ 1000.

Compensation rules are different for smaller or low cost airlines, especially for airlines serving north. Passengers can get $ 150 for delays in three to six hours. Payments go to $ 250 for delays between six and nine hours and $ 500 for delays of nine plus hours.

  • If you are denied boarding, a similar sliding payment scale applies. If you encounter a flight and the subsequent delay hits six hours you can get $ 900. Delays between six and nine hours correspond to a $ 1 800 payment. And over nine hours is $ 2400. But unlike delays or redundancies, an airline would have to pay cash, for example, on site.
  • The bag lost or damaged? Liberals want to require airlines to pay up to $ 2100 in compensation – rules already in an International Travel Convention. The proposed regulations would also require airlines to refund any luggage charges.
  • The rules would require airlines to provide food, water, air conditioning and use of bathrooms during tarmac delays, but do not require a flight to relieve passengers until a delay reaches three hours – or 90 minutes more than one senate committee is recommended. However, the limit of three hours can get a 45-minute extension if the flight is likely to start during that period.
  • Airlines will also need to have children close to their parents, eliminating the need for parents to pay an additional fee for choice of location. The rules give the airlines a little space based on age. Children under five must sit immediately next to their parents. Children five to eleven must be in the same row, separated by no more than one seat. Children 12 and 13 can not be separated by more than one line.
  • Violations of the rules may cost airlines up to $ 25,000 in fines. For example, if the airlines do not communicate quickly and easily what happens to your flight, or immediately not redirected to an airplane, they will be penalized.

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