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ShiyuandCristina SC

Canada's organic food certification system like 'an extortion racket,' report says | Ca... - 2 views

news.nationalpost.com/...n-extortion-racket-report-says

Commodities and Resources organic food

shared by ShiyuandCristina SC on 27 Nov 12 - No Cached
  • Annual organic agricultural sales in Canada exceed $2.6-billion, by recent estimates, with supermarket chains joining alternative stores in stocking an ever-widening array of organic-labelled products.
  • Canada’s legislated organic certification process is an invitation for fraud and abuse, the report argues, with consumers paying an often hefty premium for a designation that requires no proof.
  • In response to the organic industry’s growth, Canada enacted a labelling requirement: Since 2009, products making an organic claim must be certified by an agency accredited by the Canada Food Inspection Agency (CFIA).
  • ...6 more annotations...
  • The organic certification industry’s “dirty little secret,” they write, is that “organic crops and livestock are not tested in Canada before they are certified, thus making organic certification essentially meaningless.”
  • The CFIA said organic products are subject to its regular chemical residue monitoring program, along with all other food products. The federal agency, itself, does not provide certification, but rather accredits private businesses to do it. Most are for-profit businesses.
  • “There are a large number of consumers who have misperceptions of what organic means, attaching to it things that generally aren’t true,” Mr. Campbell said in an interview.
  • The analysis did find organic food was 30% less likely to contain trace levels of pesticides, with the researchers saying it was uncommon for any food in the U.S., organic or conventional, to have unsafe levels.
  • But the Frontier Centre authors say that without proof, organic authenticity should be questioned. When large amounts of money are involved, they say, such things as honour systems and the like cannot be relied upon.
  • “The certification bodies are responsible for verifying that organic operators are producing organic products in accordance with Canada’s organic standard,” the CFIA said in a written response.
  • ShiyuandCristina SC on 28 Nov 12
     
    1. Is it fair and better for organic food "businesses" to undergo their own inspections or should the government be responsible for our food safety? 2.The market failure mentioned in this article is an informature market failure. The definition of an informature market failure is when one side of the market has more information than the other. What are some visible solutions to this market failure?
  • ...2 more comments...
  • Aron Joshua Tolentino on 29 Nov 12
     
    1.) It is not fair for organic food businesses to inspect their own goods. By doing that, it will create bias in the inspection results. The government specifically the Canadian Food Inspection Agency (CFIA) should be regulating the quality of every type of food that can be consumed by human beings. This minimizes bias in the results. 2.) There should be an open relationship within the market the sets the equality information in the market. Technically, trade should be fair, no secrets are valid. If they do not comply with this, law suits can be filed. E.g. fraud, copy right, etc.
  • Dyena Huynh on 30 Nov 12
     
    1. No i don't think it's fair that only the businesses themselves inspect themselves because in doing so, you'd assume that your products are good and therefore put less effort in inspecting them. The government should has some responsibility in inspecting the food because they need to make sure it's safe for people to eat, if they aren't careful with the things they're letting people consume they will run into a lot of health problems. More health problems mean more money to be used. 2. A visible solution to this market failure is to share information so this way it's fair for everyone.
  • Valentina Padure on 14 Dec 12
     
    * It is not fair for organic food companies to inspect their own products since they will obviously never reveal anything bad that could potentially damage the company. It would be like a student marking his own quiz or test, they would do anything they could to benefit their mark. This is why governments should be responsible for our food safety. * A visible solution would be that companies must to share all the information they are aware of with the consumers.
  • Samson Luong on 17 Dec 12
     
    1. It would not be the best idea for businesses to inspect their own food because there is a high possible margin of bias and committing unethical acts such as labeling their foods safe when they aren't are likely to occur. The government should be responsible because they would inspect each business in the same manner without bias and utilize the same procedures, ensuring fair inspections. 2. Visible solutions to this market failure would include sharing product information and inspection information to all producers and consumers.
Cristina Raileanu

Consumer Debt - 6 views

1) again this question is an individual decision, I personally would cut back on my weekly spendings on luxuries, and be happy with, especially if I have something particular I am saving for. Also,...

started by Artur Dyachenko on 27 Nov 12 2 follow-ups, last by Cristina Raileanu on 07 Dec 12
S C

Government finance suyang netan - 6 views

http://www.shawconnect.ca/NewsArticle/Money/6442516329_182/Cost_of_Canada_F-35_jets_to_soar,_Ottawa_eyes_alternatives_CTV_network/story.aspx Q1 How would buying these expensive jets affect the Can...

Government finance

started by S C on 12 Dec 12 no follow-up yet
burmangabriel

Fiscal cliff: Obama, Boehner trade proposals - 1 views

www.abc15.com/...-obama-boehner-trade-proposals

Gabriel Ami trade proposals obama cliff

shared by burmangabriel on 12 Dec 12 - No Cached
  • prevent economy-damaging tax increases on the middle class at year's end, conferring by phone after a secretive exchange of proposals.
  • to reduce his initial demand for $1.6 trillion in higher tax revenue over a decade to $1.4 trillion
  • The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff," he said, declaring that Obama had yet to identify specific cuts to government benefit programs that as part of an agreement that also would raise federal tax revenue
  • ...14 more annotations...
  • attempts to avert a "fiscal cliff," across-the-board tax increases and cuts in defense and domestic programs that economists say could send the economy into recession
  • numerous proposals Obama has made to cut spending, including recommendations to cull $340 billion from Medicare over a decade and an additional $250 billion from other government benefit programs
  • Republicans "sent the White House a counteroffer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs
  • a deal to prevent damage to the economy,
  • Republicans struggle with Obama's demands to raise taxes, but Reid has privately told his rank and file they could soon be feeling the same distress if discussions grow serious on cuts to benefit programs
  • we need to strengthen Social Security, we need to strengthen Medicare for future generations, the current path is not sustainable because we've got an aging population and health care costs are shooting up so quickly
  • Republicans want to curtail annual cost-of-living benefits for Social Security and other government benefits, as well as raise the age of eligibility for Medicare from 65 to 67 beginning at some point in the future
  • president seems to think that if all he talks about are taxes, and that's all reporters write about, somehow the rest of us will magically forget that government spending is completely out of control and that he himself has been insisting on balance,
  • Obama's plan would raise $1.6 trillion in revenue over 10 years, in part by raising tax rates on incomes over $200,000 for individuals and $250,000 for couples. He has recommended $400 billion in spending cuts over a decade.
  • seeking extension of the Social Security payroll tax cut due to expire on Jan. 1, a continuation in long-term unemployment benefits and steps to help hard-pressed homeowners and doctors who treat Medicare patients
  • Obama last year signed legislation to cut more than $1 trillion from government programs over a decade, and was proposing $600 billion in additional savings from benefit programs.
  • health care law that Obama signed into law showed savings of $100 billion. Much or all of that funding came from Medicare, even though Obama's aides insisted during his successful campaign for re-election that he had not made any cuts in that program
  • Boehner's plan, in addition to calling for $800 billion in new revenue, envisions $600 billion in savings over a decade from Medicare, Medicaid and other government health programs as well as $300 billion from other benefit programs and another $300 billion from other domestic programs.
  • It would trim annual increases in Social Security payments to beneficiaries, and it calls for gradually raising the eligibility age for Medicare from 65 to 67, beginning in a decade
  • burmangabriel on 12 Dec 12
     
    1) Which proposal do you think is better? More cuts or more taxes 2) Do you think that going off the "cliff" is less detrimental than picking the other parties proposal?
  • Aron Joshua Tolentino on 14 Dec 12
     
    1.) More taxes because people in the lower bracket income won't get affected as much. Thus, not further hardening their way of life. 2.) No. they believe the measures negatively affect them. It would affect defense spending, domestic spending and taxes negatively. All the citizens of america will get affected. No exceptions.
  • Samson Luong on 17 Dec 12
     
    1. I believe more taxes would benefit the economy more because it would be geared more towards the higher income earners that have the foundation to deal with the taxes opposed to the lower incomes earners that already struggle. 2. Not exactly because going off the "cliff" affects several important factors such as federal tax, boarder tax, domestic spending, etc. Thus, it would seem that going off the "cliff" serves the economy and citizens more negatively than siding with the other parties' proposal.
S C

Youth unemployment: a serious problem in Canada - Yahoo! Finance Canada - 1 views

ca.finance.yahoo.com/...-problem-canada-182837006.html

youth unemployment canada yahoofinance

shared by S C on 16 Jan 13 - No Cached
  • Canadian job market is faring well unless you're a student seeking well-paying summer work or a graduate
  • Canada's total jobless rate currently sits at an acceptable 7.4 per cent. But for those in the 15- to 24-age bracket, the unemployment figure is much higher: 14.7 per cent.
  • Typically, youth unemployment is double that of the national average
  • ...24 more annotations...
  • the obstacles youth must overcome to finding gainful employment — be it temporary summer work or a permanent position — has never been more daunting.
  • the youth are always the hardest hit and they take the longest time to get out from under the recession impact on employment.
  • There's just not enough (jobs) to go around. So if students aren't out there early and aggressively they won't get one
  • f you've graduated (from college or university) and you want to start paying off your (student loan) debt and get on with your life, it's very difficult to do that on a part-time job."
  • "There's a lot of part-time activity happening but i
  • Parents would've expected their 20-something children to be independent but they're just not able to do that
  • "Hopefully, both parents are working and they're able to stay at home but for a lot of young people that's just not possible."
  • in big cities like Toronto, there are more youth seeking out homeless shelters
  • Job experience tends to be the biggest hurdle for the 15- to 24-year-old age group when it comes to impressing an employer.
  • "There are a lot of youth that are still demanding that they get paid for entry-level work assignments. I think that that is a bad choice for youth.
  • The first couple of jobs they do by way of an unpaid intern gives them a leg up," Parker says.
  • Many of those unpaid intern programs end up as full-time, paying careers for them and every major employer across the country has dedicated unpaid intern programs.
  • Work experience is absolutely critical. No matter what you graduated with, if you don't have real work experience you're going to have a challenge."
  • Meanwhile, there's little help coming from provincial and the federal government these days it seems. Austerity budgets at the both government levels are seeing civil servants laid off.
  • there's no encouragement at this point by the federal government for the private sector to do job creation (for youth).
  • What you study can be the difference
  • If young people choose to go the route of college, they can get excellent job skills and they have a higher placement rate directly from college into work.
  • current and future post-secondary students need to take a hard look at what their course of study is and whether or not it'll lead to employment upon graduation.
  • "When I talk to high school teachers and guidance councillors about the kind of programs being offered to youth talk about 'what's your dream job?' versus educating kids on what jobs will be available to them," she says.
  • Know how to sell yourself
  • the secret to landing a job is in knowing how to sell oneself.
  • "You have to be as competitive as someone who's been in the job market for 10 years," she says. "You've got to know how to do a job search, how to write a résumé, and you need to convince the employer that even though you haven't done a job before that you're a quick-learner and you're creative."
  • *Target respected employers that best matches your skill set
  • *Offer to do free summer work for the sake of gaining experience and don't be picky about what's offered *When applying to post-secondary institutions, choose schools that provide intern programs *Be knowledgeable about where employment demand will be in the future and ensure your skills are also in demand
  • S C on 16 Jan 13
     
    Youth unemployment is high because of little or no job experience, type of major isn't in demand, and not knowing how to sell oneself, which causes problems like 20 year old people living with their parents
S C

10 Things You Need To Do While You're Unemployed - Forbes - 1 views

www.forbes.com/...d-to-do-while-youre-unemployed

unemployed forbes what to do

shared by S C on 16 Jan 13 - No Cached
  • zimbello If you can accomplish the writers list you don’t need corporate. Corporate needs you. Put your skills to work for yourself…far more rewarding. Glen Loock Read the article and loved what it says, “Rely on yourself”. This is a new time and it requires a change in our thought pattern. All ten are great ways gai [...] Philippe Scheimann These are indeed 10 excellent points. I would actually expand in the point of ‘start a professional blog’ by actually ‘establish your presence on the Inter [...] Henry Cameron Chang Great article with a great message. This has been something I’ve been telling people for a long time. Fredick Anquandah Interesting piece of advice there…Thanks for that on ma way to the first step and hope it gets me there… Laura Ede I agree – taking a temporary/contract role is an option that job hunters should consider. After spending 10 years in the Public Sector I was made redundant [...] Susan Keefe Unfortunately, I find myself among the unemployed so articles such as this have consumed a good deal of my time lately. These are great tips, especially fo [...] 20 comments, 12 called-out Comment Now Follow Comments Following Comments Unfollow Comments Comment Now Follow Comments Following Comments Unfollow Comments 2.9k 1.2k 888 gigya_share_button_li
  • vast majority of employers are sympathetic to such circumstances.
  • More than 40% of unemployed job seekers have been out of work for six months or longer
  • ...10 more annotations...
  • But this doesn’t mean you can sit around and wait for a sympathetic employer to offer you work.
  • The key is to get people to see your work and to see what you’re capable of doing
  • “The worry is that employers may think job seekers are losing some of their skills because they haven’t been utilizing them. By volunteering, taking temporary work, or signing up for a class that develops your professional tool kit, you show employers that you’ve made the most of your time and will be ready on day one
  • Take a temporary or contract assignment
  • If you fill the gaps with activities and experience that illustrate how you are still developing your skill sets, the overwhelming majority of employers will look past your unemployment and focus on what you can bring to their team
  • If you do a great job, even if it’s for a temporary job, whoever hired you is more likely to recommend you for a permanent position
  • You never stop learning in your career, so the more technical competence you have, the better
  • showing that you are serious about your work and that you take initiative.” Another advantage to taking a class: It’s a great networking opportunity.
  • When you volunteer for something, you are telling potential employers something about you as a person
  • When companies are hiring, they are looking not only for people who can get the job done but also for people with character and integrity
  • S C on 16 Jan 13
     
    Many employers understand that the recession may worsen some parts of the resume, but they are sympathetic and some ways to better your chances are to take temporary assignments, take a class and volunteer when unemployed
S C

10 Things You Need To Do While You're Unemployed - Forbes - 0 views

www.forbes.com/...2

unemployed forbes what do to

shared by S C on 16 Jan 13 - No Cached
  • Start your own business.
  • If you have the means to do it, it’s a great résumé booster and a wonderful marketing tool.
  • you can
  • ...11 more annotations...
  • work part-time or full-time depending on whether or not you are able to land a job working for someone else
  • You are also going to learn skills that are transferrable if you do end up working for someone else again.”
  • information technology, engineering, health care, sales, and customer service are among the top areas for hiring nationwide
  • include specific words from the job posting
  • A résumé handed to the hiring manager directly from someone within the company is more likely to get noticed
  • t’s important to take that extra step to let the employer know you’re interested, and make sure you always send a thank you after an interview
  • set you apart from the pool of candidates
  • most employers use electronic scanning devices to screen and rank candidates
  • candidates who show up at an interview with ideas demonstrate that they are passionate, knowledgeable, and excited about the opportunity.
  • tailor your résumé for each position you apply for
  • These types of activities tell the employer that the job seeker is serious about their career development and made the most of their time off
  • S C on 16 Jan 13
     
    The key to getting hired is to make sure employers know you've been using your time and that you're serious about getting the job. It's also important to know how employers hire and build more connections to increase your chances.
S C

Advice from my mom about job hunting | Penelope Trunk Blog - 1 views

blog.penelopetrunk.com/...-from-my-mom-about-job-hunting

advice job hunting

shared by S C on 16 Jan 13 - No Cached
  • there was one resume that was so good, but the guy was too high level for what I needed
  • Then I thought to myself, he’ll definitely get a job soon, and I’d like to have HIS job, so I should send my resume to his company right now.
  • Love, Mom
  • S C on 16 Jan 13
     
    If you know a company will have a vacancy soon, send them your resume!
S C

5 Things to do when you're unemployed. Hint: It's not job hunting. | Penelope Trunk Blog - 0 views

blog.penelopetrunk.com/...loyed-hint-its-not-job-hunting

things to do unemployed job hunting

shared by S C on 16 Jan 13 - No Cached
  • the interview question: What happened at your last job?Here's the answer you should always give: “I left to do x.” And you fill in for x
  • what you should be really focusing on when you are unemployed: Learning and growing
  • Because this is what you are going to talk about in job interviews
  • ...13 more annotations...
  • when you talk about why you left the last company, you spin it in a positive light by talking about how you are excited about doing what you are doing. Your interview should include you telling a good story about focused personal growth, and no one will get stuck on why you left your last job
  • During one stint of unemployment, I worked for free for my boyfriend's company for a couple of hours a day. That way I didn't actually have a gap in my resume; a resume doesn't show part-time or full-time and it doesn't show pay or no pay
  • ocus on ambition and execution and not so much on work per se
  • The company that never got out of your parent's basement can sit on your resume as professionally as a stint in the Fortune 500. It's all about how you write the bullet points: talk about accomplishments and learning
  • Put your ideas out into the world and connect with people that way. This is why you want to be hired, right? For your ideas. So show them.
  • Blogging is a great way to keep up in your industry, network without looking desperate
  • Do you have a company idea? Try it now. During unemployment. There's nothing stopping you.
  • whether or not your company does well, you'll be able to talk about it in an interview as a huge learning moment
  • The reason that people who blog have great careers is that bloggers are always thinking about issues in their industry. Show that side of yourself to people. Blogging takes a lot of time, sure. Bu you have a lot of time. So use it.
  • High performers practice for interviews
  • Practice talking about yourself with everyone
  • So now you know what you're aiming for, but you need to talk about it with everyone — parties, at the gym, on the phone with friends. When they ask how you're doing, talk about what you're doing like you are in the job interview.
  • What's important to remember here is that no one can tell you what experience you can gain and what you can't. You don't need a job in order to learn cool stuff and be on cool projects. You control what you do with your time and you can make it useful. Talk about that. There is no reason to talk about why the last job didn't work when you can talk about the great things that leaving opened up to you
  • S C on 16 Jan 13
     
    Job hunting for 8 hours a day isn't the ideal way to get rehired. Instead, focus on spinning a positive light on negative questions your next interviewer might ask. For example, when asked why you left your last job, quickly get to why you're interested the one you'er applying for.
lebiez piranaj

For richer, for poorer | The Economist - 1 views

www.economist.com/21564414

gini coefficient disparities inequality income distribution

shared by lebiez piranaj on 16 Jan 13 - No Cached
  • the share of national income going to the richest 1% of Americans has doubled since 1980
  • rise in disparities all along the income distribution
  • best-known way of measuring inequality is the Gini coefficient
  • ...15 more annotations...
  • global inequality has started to fall even as inequality within many countries has risen
  • inequality rises in the early stages of industrialisation as people leave the land
  • inequality has been on the rise for three decades
  • people at the bottom and even in the middle of the income distribution are falling behind not just in relative but also in absolute terms
  • Too often high-tax welfare states turned out to be inefficient and unsustainable
  • Europe France’s new president, François Hollande, wants a top income-tax rate of 75%
  • The mainstream consensus has long been that a growing economy raises all boats
  • of the tendencies that are harmful to sound economics, the most seductive and…poisonous is to focus on questions of distribution
  • Some societies are more concerned about equality of opportunity
  • The unstable history of Latin America, long the continent with the biggest income gaps, suggests that countries run by entrenched wealthy elites do not do very well
  • America’s presidential election is largely being fought over questions such as whether taxes should rise at the top
  • a big driver of today’s income distributions is government policy
  • a lot of today’s inequality is inefficient
  • reflects market and government failures that also reduce growth
  • it is about attacking cronyism and investing in the young
  • lebiez piranaj on 16 Jan 13
     
    The article talks about how inequality may have decreased worldwide but it is increasing more and more in specific countries, Canada has fairly high inequality and there are propositions to tax the rich or redistribute income using other strategies. 
Cristina Raileanu

Bank of Canada's Tiff Macklem warns on soft economic momentum | Economy | News | Financ... - 0 views

business.financialpost.com/...n-housing-market-consumer-debt

economy

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • “The strength and durability of the pick-up in growth through 2013 and beyond will depend critically on how successful we are in regearing our growth to exports, investment and innovation.”
  • Bank of Canada senior deputy governor Tiff Macklem said Thursday the economy is expected to pick up this year, but sounded a note of caution amid a soft housing market and weak export demand.
Cristina Raileanu

Paying down debt Canadians' main focus in 2013: poll - The Globe and Mail - 1 views

www.theglobeandmail.com/...article6841809

down paying debt

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • Managing day-to-day spending/budgeting came in third, selected by eight per cent of respondents and down from 14 per cent last year.
  • 45-64 named retirement planning as their top financial priority, which fell to just 12 per cent among that age group in this year’s survey.
  • “Even small contributions today can make it easier in future years to reach your retirement savings goals,”
  • ...1 more annotation...
  • debt management increased as a priority for that age group to 18 per cent from 14 per cent.
Cristina Raileanu

Canadian consumer debt climbs to record levels in 2012 | CTV News - 0 views

www.ctvnews.ca/...ecord-levels-in-2012-1.1093975

canadian consumer record debt levels

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • That's about the level reached in the United States before the financial crisis.
  • the household debt to income ratio stood at 164.6 per cent,
  • navigated through the risks so far, but the time has come to pay off your bills before that happens.
  • ...1 more annotation...
  • The Bank of Canada is expected to keep its key rate on hold for now, giving Canadians a window to start reducing their debts before costs start to rise.
Cristina Raileanu

Raising Interest Rates? Canada's Impending Household Debt Crisis | Global Research - 0 views

www.globalresearch.ca/...5318278

crisis canada consumer debt

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • If the bank feels you can pay $2,000 a month on a mortgage, then you generally qualify for the loan, if you have the right credit record and collateral.
  • It is worth noting here that the money your bank loans for a mortgage is created out of thin air at the push of a button. They do not lend the money of their depositors for this.
  • interest charges are built into just about every product and service available. Higher interest rates means businesses would have to charge more to recover their loan costs.
  • ...3 more annotations...
  • For an extreme example of what can happen one only has to turn back the clock to the 1980s, when 20% interest rates destroyed many businesses and individual lives;
  • it is the average consumer that is blamed for the problems created by the so-called experts.
  • one could take each aforementioned quote by the experts, reword it to mean the exact opposite, and thereby have a better understanding of the situation.
Cristina Raileanu

Canada's dirty economic secret: we're as indebted as the rest of you | Colin Horgan | C... - 0 views

www.guardian.co.uk/...ada-dirty-economic-secret-debt

canada consumer debt

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • is acknowledged to have weathered the economic storm better than any other major western economy, bank bailouts have been avoided, sustained growth has returned,"
  • "highest credit rating in the world,
  • Canada learned some sound policy lessons from its own financial and economic meltdowns in the latter decades of the 20th century, a lot of us are now personally up to our eyeballs.
  • ...3 more annotations...
  • Canadian "household debt as a percentage of disposable income has risen by almost 60 percentage points to 165% today,"
  • The bulk of this rise in debt – 66%, or $636 bn – has been in the form of mortgage debt, putting Canadians in an uncomfortable neighbourhood
  • between Spain and the United States in the ranking of household mortgage debt,"
Cristina Raileanu

Toronto stock market advances, commodities rise | CP24.com - 0 views

www.cp24.com/...ces-commodities-rise-1.1108337

commodities rise canada

shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • es for higher demand pushed up commodity prices. Strong demand for commodities from
  • Gold prices also climbed with the February contract up $22.50 to US$1,678 an ounce, pushing the gold sector ahead about 2.2 per cent. Goldcorp Inc. (TSX:G) climbed $1.26 to C$36.68 while Iamgold Inc. (TSX:IMG) gained 20 cents to $10.73.
  • The energy sector was ahead 0.44 per cent while the February crude contract gained 72 cents to US$93.82 after earlier hitting a three-month high of US$94.70 a barrel. Prices also got a boost from a report that Saudi Arabia cut its crude production by nearly five per cent last month to the lowest level in 19 months.
  • ...4 more annotations...
  • Suncor Energy (TSX:SU) was 31 cents higher at C$33.58 while Canadian Natural Resources (TSX:CNQ) advanced 51 cents to $26.69.
  • The information technology sector gained 1.4 per cent with Research In Motion Ltd. (TSX:RIM) ahead 39 cents to $11.79.
  • In Canada, Astral Media Inc. (TSX:ACM.A) said Thursday that its first-quarter profit was $59.6 million or $1.05 per share, beating analyst estimates. Revenue rose to $274.5 million, which was about $3 million below analyst estimates but higher than a year before. The company has a friendly deal with BCE Inc. (TSX:BCE), which is seeking regulatory approval to buy Astral for about $3.38 billion. Astral edged up 31 cents to $47.21.
  • Canadian pharmaceutical chain Jean Coutu Group (TSX:PJC.A) on Thursday reported stronger sales and a quarterly profit that beat analyst estimates by a penny per share.
S C

CBC News - Unemployment statistics - 1 views

www.cbc.ca/...unemployment-stats

cbc news unemployment statistics

shared by S C on 16 Jan 13 - No Cached
  • Canada's unemployment rate decreased to 7.1 per cent in December
  • S C on 16 Jan 13
     
    CBC's unemployment statistics for Canada and maybe US
faseehthemoonman

Bank of Canada warns of rate increase, flags debt concerns - The Globe and Mail - 1 views

www.theglobeandmail.com/...article4630682

globe mail bank canada rate increase consumer

shared by faseehthemoonman on 16 Jan 13 - No Cached
  • The Bank of Canada has laid out a clearer path for interest rates, pushing back the timing of an eventual increase
  • Bank of Canada’s benchmark rate from its current setting of 1 per cent.
  • 167 per cent
  • ...4 more annotations...
  • Households need to slow their borrowing on their own, or else the Bank of Canada will give them reason to do so
  • anada’s gross domestic product grew at annual rates of 1.8 and 1.9
  • Since April, the Bank of Canada had been talking about a potential rate increase in the context of an “economic expansion” that failed to achieve
  • forecast for economic growth this year to 2.2 per cent from 2.1 per cent
ShiyuandCristina SC

Rich-poor gap could spark financial crisis in Canada: Report | Money | Toronto Sun - 1 views

www.torontosun.com/...ancial-crisis-in-canada-report

income inequality gap canada shiyu luo

shared by ShiyuandCristina SC on 14 Jan 13 - No Cached
  • The gap between the rich and the poor in Canada is getting wider and could eventually lead to an economic collapse, according to a new report by a left-wing think-tank.
  • Income for middle-class Canadians has remained stagnate since the 1980s, while the income of the richest 1% has increased dramatically
  • When the rising savings of the rich are parked in the financial markets, but everyone else falls deeper into debt, a house of cards is created, producing the kind of economic instability that led to the 1929 financial sector crash and the market meltdown of 2008."
  • ...1 more annotation...
  • As a result, Canada's income inequality has reached a level not seen since the 1920s, says Canadian Centre for Policy Alternatives.
  • ShiyuandCristina SC on 14 Jan 13
     
    The problems created by income inequality in Canada could possibly lead to a financial crisis. 
S C

Canadian consumer debt level reaches record high | Debt | Personal Finance | Financial ... - 4 views

business.financialpost.com/...ing-more-debt-than-ever-before

canadian debt consumer

shared by S C on 15 Jan 13 - No Cached
  • In the July-September period, households borrowed $27.3-billion, $18.4-billion of that in mortgages, while consumer credit levels increased by $7-billion to $474-billion.
  • “Given the prospects that interest rates will eventually rise, households must cool their spending and borrowing further.”
  • household debt to annual disposable income reached a new high at 164.6%
  • Nikita Klyuev on 17 Jan 13
     
    The new report shows household debt to annual disposable income reached a new high at 164.6%, from 163.3% the previous quarter. In the July-September period, households borrowed $27.3-billion, $18.4-billion of that in mortgages, while consumer credit levels increased by $7-billion to $474-billion. As well, household net worth rose 1% to $197,800 in the July-September period, mostly due to gains in holdings in stocks, including mutual funds, and increased value of pension assets.
  • Rohan Zahur on 17 Jan 13
     
    On a national accounting level, Canada's net worth increased by more than $9-billion in the third quarter to $6.8-trillion. That translates to $194,100 per person.
  • S C on 18 Jan 13
     
    Canadians are taking on more debt than ever before, approaching US debt levels just prior to the housing market crash.
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