So much for stimulation by tax cuts

Posted by & filed under Canadian Economy, Taxation.

Description:  According to the theory, the massive US tax cuts of last year were supposed to get the tech companies hiring lots of workers. But according to the Financial Times of London, five large American tech firms, including Apple and Alphabet, spent $115 billion on share buybacks. This could be setting up the companies for… Read more »

That sinking feeling

Posted by & filed under Canadian Economy.

Description:  The Canadian economy took a jobs hit in August. The unemployment rate climbed to 6 per cent with a net job loss of 51,600 on the month. Losses in the part-time sector seemed to be a big factor in the decline. Alberta moved up in jobs while Ontario slipped backwards. In New Brunswick, a… Read more »

On the border

Posted by & filed under Canadian Economy.

Description:  The past week has seen story after story on the trade talks between Canada and the United States. This all follows the US and Mexico coming to terms on a trade deal. Will Canada be left on the sidelines in the North American Free Trade Agreement? What will this mean for Canadian consumers? One… Read more »

50/50

Posted by & filed under Canadian Economy.

Description: Canadians appear to be split down the middle regarding who is right regarding the pipeline dispute between Alberta and British Columbia. When BC’s government threatened to slow down the progress on the Kinder-Morgan pipeline by launching additional study on environmental impacts, Alberta struck back with threats to block British Columbia’s wine sales in Alberta… Read more »

Phones drop inflation

Posted by & filed under Accounting Principles, Canadian Economy.

Description: Canada’s inflation rate was down to 1.9% in December. One big factor appears to be a slow down in gasoline price increases. Another was a short price war on cellphone plans sparked by Shaw cutting consumer costs on some of its offerings. When other large carriers followed suit, consumers benefitted, as long as they… Read more »

Up go the interest rates

Posted by & filed under Canadian Economy, Student life.

Description: The major banks in Canada have raised their interest rates following the Bank of Canada’s third recent increase in its lending rate to 1.25%. With positive economic growth and healthy employment levels, the Bank of Canada believed it was a suitable time to raise rates. Lurking in the background, however, is the possibility of… Read more »

Still looking to cut that deficit

Posted by & filed under Advanced Accounting, Canadian Economy.

Description: The deficit is still here. And Canada’s Finance Minister, Bill Morneau, says it will be for the foreseeable future. Morneau is projecting a deficit of slightly less than $20 billion for the Canadian government for the 2017-18 fiscal year. He is forecasting the deficit will continue to decline over the next several years, despite… Read more »

RBC goes AI

Posted by & filed under Accounting Careers, Canadian Economy.

Description: Last week this blog noted how Montreal is moving ahead with the aerospace industry. This week, Montreal is in the spotlight again. RBC is investing in an AI (artificial intelligence) laboratory in Montreal, building on its business efforts with this technology in Edmonton and Toronto. Date: November 21, 2017 Source: ctvnews.ca Link: http://montreal.ctvnews.ca/rbc-looks-to-get-smart-with-montreal-artificial-intelligence-lab-1.3687375 Discussion… Read more »

. . . With electric trucks!

Posted by & filed under Canadian Economy, Sustainable Development.

Description: In the same week Loblaws  announced that it was starting up a delivery service for online orders, it also surprised us with another future looking move by stating an intention to purchase Tesla’s electric trucks. The trucks are expected to hit the road in 2019 and will help move the giant grocer ahead in… Read more »