Westleaf Cannabis closes on $20 million in financing

Company plans to open 20 to 30 retail stores under the banner Prairie Records over the next 12 to 24 months

Westleaf Cannabis closes on $20 million in financingCalgary-based Westleaf Cannabis has received strong validation of its innovative approach in the Canadian cannabis industry with the recent closing of $20 million in financing, including a $2.9-million strategic investment from Tilray Inc. Westleaf plans to open 20 to 30 retail stores over the next 12 to 24 months, subject to securing real estate, finalizing…

Canadian propane production expected to climb

A new report says the industry is expected to support close to 21,000 jobs annually across the country

Canadian propane production expected to climbPropane production in Canada is expected to increase by more than 20 per cent over the next seven years, according to a new report released on Friday by the Conference Board of Canada. The report, Fuelled Up: An Updated Overview and Outlook of Canada's Propane Market and Industry, said the industry accounted for $3.5 billion…

Oil production cut to take 2.2% out of Alberta’s GDP in 2019

The move is also bound to have implications for Canada’s economy: Conference Board of Canada

Oil production cut to take 2.2% out of Alberta’s GDP in 2019The Alberta government’s unprecedented move to cut back oil production in the province starting next year is “a desperate measure to alleviate bottlenecks and bolster prices,” says a commentary by the Conference Board of Canada. “Whether there’s a payoff will be hard to determine and will depend on whose opinion you ask on this complex…

Capital expenditures in Canadian oil patch plunge 58% from 2014

ATB report blames the decline on the completion of major projects and the dramatic oil price differential

Capital expenditures in Canadian oil patch plunge 58% from 2014The news from the oil patch continues to raise concerns across Alberta and Canada. The latest is the revelation that capital expenditure in the oil patch, a driving force of the national and provincial economies, is falling again. ATB Financial’s Economics & Research Team on Thursday released data from Statistics Canada indicating that there were “whispers…

Lower crude oil exports lead to jump in trade deficit

Crude oil export prices were down 15.4% in October, the strongest monthly decrease since February 2016: StatsCan

Lower crude oil exports lead to jump in trade deficitCanada’s merchandise trade deficit with the world widened from $891 million in September to $1.2 billion in October, according to Statistics Canada. The federal agency said on Thursday that the country’s exports were down 1.2 per cent in October, principally on lower exports of crude oil. Imports were down 0.6 per cent, mainly due to…

Interprovincial trade barriers are a national embarrassment

Studies suggest these constraints cost the Canadian economy up to $130 billion a year. But we can change that

Interprovincial trade barriers are a national embarrassmentBy Sen. Jane Cordy and Sen. Diane Bellemare Canada’s framework for interprovincial trade is patchy at best. While Canada has signed on to free trade agreements with countries around the world, there are significant barriers to the free flow of goods and services within our own borders. Studies have suggested that these interprovincial trade constraints…

Alberta cuts oil production in face of price differential

‘Every Albertan owns the energy resources in the ground and we have a duty to defend those resources,’ says Premier Notley

Alberta cuts oil production in face of price differentialAlberta Premier Rachel Notley announced on Sunday that the province is mandating a short-term reduction in oil production in response to the historically high oil price differential. The provincial government says that differential is costing the national economy more than $80 million a day. Production of raw crude oil and bitumen will be reduced by…

Time to rethink the federal transfers system

Atlantic Canada enjoys a level of public spending that far outreaches that of the provinces that contribute most to equalization payments

Time to rethink the federal transfers systemIt is time for a fundamental course change by Atlantic Canadians with respect to equalization and other regional subsidies. I recently made a presentation to independent senators in Ottawa on this subject in which I said that Canada’s regional subsidies were ineffective. We've had a half-century of remarkably large subsidies to Quebec and Atlantic Canada,…

Employment in Canada shifts away from full-time jobs

And the share of employees belonging to a union declined from 38% to 28%: StatsCan

Employment in Canada shifts away from full-time jobsA report out Friday by Statistics Canada indicates a shifting trend in the country’s labour landscape. “Since the early 1980s, total employment has shifted away from full-time jobs. The share of all employees aged 17 to 64 working full-time declined from 87 per cent in 1981 to 84 per cent in 2018. But while full-time…

Canadian economy slows in the third quarter

Strength in mining and petroleum refineries boosted growth in the third quarter: StatsCan

Canadian economy slows in the third quarterCanada's real gross domestic product (GDP) grew 0.5 per cent in the third quarter, following a 0.7 per cent increase in the second quarter. Expressed as an annualized rate, real GDP was up 2.0 per cent in the third quarter, according to Statistics Canada. In comparison, real GDP in the United States grew 3.5 per…
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