Scotia trims forecast for Canadian GDP growth

first_img Keywords Economic forecasts James Langton Stagflation is U.S. economists’ biggest fear, SIFMA says Share this article and your comments with peers on social media Economists at Bank of Nova Scotia have reduced their latest forecast for gross domestic product (GDP) growth for Canada, citing the impact of lower oil prices. In a new report, Scotia indicates that it now expects GDP growth of 1.9% in 2015 and 2.0% in 2016. It says that the weaker outlook reflects “the continuing slump in crude oil prices and accelerated investment cutbacks in the energy sector.” OECD raises outlook for Canadian economic growth this yearcenter_img Facebook LinkedIn Twitter Related news Non-energy exports should benefit from stronger U.S. demand and a weaker loonie, Scotia says. “However, sluggish employment and wage gains are expected to restrain consumer spending and housing activity, particularly in oil-producing regions,” it notes. The firm has also lowered its GDP forecast for the U.S. to 3.1% this year, and 2.9% in 2016. “Industrial activity remains supported by solid domestic sales, but has lost some recent momentum alongside reduced energy-related investments, weak global growth and persistent U.S. dollar strength,” it notes. Globally, the economy is “still having difficulty generating increased traction,” Scotia observes; adding, “The inability to generate sustained and stronger growth around the world attests to the persistent drag associated with chronic public and private sector debt burdens, the slow progress in implementing structural economic reforms in many countries, the increased oversight and regulatory measures imposed on the financial sector, as well as the large number of geopolitical stress points.” Scotia is now looking for global economic momentum to start gaining strength next year, bolstered by the resilient U.S. economy, the positive impact on consumers worldwide of lower oil prices, the continued decline in inflation and borrowing costs around the world, currency-led adjustments, and the mounting pressure on governments to expand infrastructure investment and bolster demand. Editor’s note: For an outlook on how Canada’s provinces and territories will fare in the year ahead, see Report on the Nation in the February 2015 issue of Investment Executive. Economy lost 68,000 jobs in Maylast_img read more

Canadian environment minister pushes for zero-emission car plan tied to U.S.

first_img advertisement RELATED RELATED TAGSFlexElectric CarsElectric VehiclesNew VehiclesFlex COMMENTSSHARE YOUR THOUGHTS Canada has failed to meet any of its previous greenhouse gas targets, but despite this, the government still wishes to hit net zero emissions by 2050. In 2017, Canada claimed all new vehicles sold would be zero emissions starting in 2040, and Prime Minister Trudeau recently said the tax on carbon would raise from CDN$30 a tonne to CDN$170 by 2030. See More Videos We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Feature Story Motor Mouth: Is Quebec’s plan to ban gas-powered cars just a (tail)pipe dream?by David Booth | November 20, 2020 Canada’s environment minister and the incoming Biden administration in the United States have both agreed that zero emissions vehicles need to be deployed faster, and that deeper environmental ties between the two countries could more quickly result in a North American ban on new gasoline-powered passenger cars and trucks.According to Reuters, Environment Minister Jonathan Wilkinson said talks with Washington would cover “what the European countries and Quebec and British Columbia have done, which is to put a date at which they will no longer allow the sale of internal combustion engines,” he said.British Columbia, Quebec, and California all require a portion of new vehicle sales to be zero-emissions, and with the exception of B.C., will outright ban the sale of new gasoline-powered passenger cars and trucks starting in 2035. center_img Trending in Canada The Rolls-Royce Boat Tail may be the most expensive new car ever ‹ Previous Next › President-Elect Joe Biden announced earlier this year he would implement a climate plan to provide incentives for automakers for producing zero-emissions vehicles. “I think we can collectively come up with mechanisms that will help both countries make progress on climate change,” Wilkinson said. PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | virtual panelPlayThese spy shots get us an early glimpse of some future models | Trending Videos First Look: 2022 Lexus NX The sport-cute’s looks have been softened, but its powertrains and infotainment offerings have been sharpenedlast_img read more

Monday Scramble: Deal with it

first_imgJustin Rose rallies, Dustin Johnson collapses, Tiger Woods makes the rounds, a high-schooler gets edged out by a bylaw and more in this week’s edition of Monday Scramble: Rose left China with the trophy, but this will be remembered as the one that got away from Johnson. The world No. 1 started the final round of the WGC-HSBC Champions with a seemingly insurmountable six-shot lead, then spent the afternoon proving why the word “seemingly” has to be interjected into the sentence. Johnson picked a bad time to have perhaps his worst round of the year, failing to make a single birdie after notching 22 over the first 54 holes. It added up to a two-shot win for Rose, who entered the final round admittedly playing for second place. A few hours on the paddleboard back home in Florida should help DJ put to bed any lingering regrets about his final-round woes amid blustery conditions, but it was certainly a surprising result for the American fans who went to bed Saturday night expecting to wake up to news of a Johnson coronation. 1. But let’s not shortchange Rose, who put up a closing 67 on a difficult day when no one else in the top 10 managed to break 70. The Englishman was a hard-luck runner-up at the Masters earlier this year, and he appeared to be closing in on his first winless year since 2009. But he remained patient amid Johnson’s surprising collapse, and managed to take advantage when the slimmest of opportunities presented itself. It’s his first win since a gold medal was placed around his neck at the Rio Olympics, and his first PGA Tour victory since the 2015 Zurich Classic of New Orleans. 2. As an Englishman born in South Africa who currently resides in the Bahamas, it should come as no surprise that Rose possesses a global resume. He has won tournaments on every continent except Antarctica and has lifted trophies in 10 different countries: China, England, South Africa, Australia, Brazil, Scotland, Hong Kong, Japan, Turkey and the U.S. 3. Rose came from eight shots back to begin the final round, the third largest comeback in Tour history. The only players to erase larger deficits on the final day? Paul Lawrie, who was 11 shots back at The Open in 1999 and Stewart Cink, who blew past Ted Purdy at the RBC Heritage in 2004 from nine shots off the pace. 4. To put Johnson’s stunning demise in perspective, this was just the seventh time in his career that he didn’t record at least a single birdie or better, and the first such round since June. Johnson was in position to become the first player to ever win three WGC events in a calendar year, and he was hoping to extend his active streak of seasons with at least one win to 11. It turns out both will have to wait until at least 2018. 5. Johnson’s Sunday melt took a little bit of heat off of Brooks Koepka’s rough patch during the third round. Playing alongside Johnson in the final group and holding a share of the lead, Koepka made a quad on the par-5 eighth hole en route to dropping well off the pace. He ended up alongside Johnson in second place at 12 under. Earlier in the week, Koepka estimated that he and Johnson had hung out together for 14 of the 21 days following the Presidents Cup, talking about anything but golf. Neither will likely look to dwell on how things ended this week in China. 6. For a guy who hasn’t played competitively in months, Tiger Woods sure found a way to be relevant in the news cycle this past week. First there was the “stinger” social media post, which drove speculation about his possible return to a new high. Then there was an appearance at Game 2 of the World Series in Los Angeles, followed by his guilty plea Friday to reckless driving charges stemming from a May DUI arrest. That’s a full week, and it yielded Woods a solid chunk of the news cycle while many of the game’s best played overnight in Asia. 7. Amid all the appearances, the question remains whether or not Woods will decide to tee it up two months from now at the Hero World Challenge. The tournament made the unconventional move of announcing 16 of its 18 players earlier this month, perhaps paving the way for Woods to take one of two remaining sponsor exemptions should he so choose. It amounts to a far-fetched scenario for anyone who listened to Woods at the Presidents Cup, when he acknowledged the possibility of never again playing competitively. The themes from Woods and agent Mark Steinberg have been to take it slow following back fusion surgery in April. But with each passing social media swing video, the lure of a return in the controlled environment of the Bahamas may be too tempting to pass up. 8. One person who seems confident about Woods’ return is former swing coach Hank Haney. Haney hasn’t worked with Woods since 2010, but the two were together for six major wins. Haney explained on SiriusXM PGA Tour Radio that he expects Woods to tee it up at Albany, even though his most recent return to competition lasted only seven rounds before back issues flared up that led to another surgery. “They’re going to toy with everybody, because it’s just what they do. But he’s playing at the Hero World Challenge,” Haney said. “He’s not going to wait until February to play again.” 9. In an era of 20-somethings dominating the LPGA tour, Cristie Kerr continues to turn back the clock. Kerr won her 20th career title at the Sime Darby LPGA Malaysia over the weekend, becoming the first player to win over the age of 40 since Catriona Matthew back in 2011. She did so with a 35-foot bomb on the final green, and with yet another trophy on her shelf she trails only Annika Sorenstam and Karrie Webb on the LPGA’s all-time money list. “Yes, I’m 40,” Kerr told reporters. “And a winner.” And clearly still with plenty left in the tank. 10. Kudos to the USGA for taking the top event in women’s golf to one of the most iconic courses in the country. Pebble Beach will host the 2023 U.S. Women’s Open, creating a Northern California double-dip with The Olympic Club hosting in 2021. It’ll be the first time the top women in the game play a major on the scenic oceanside layout, and it’s about time they were afforded the opportunity. Pebble will also host the men in 2027, creating a 10-year run of blueblood venues that means a possible return to a course like Chambers Bay or Erin Hills will have to wait until at least 2028. When is a win not a win? The riddle was answered this week with the plight of high-schooler Emily Nash, who dusted a field of boys at a regional competition only to be denied both the first-place trophy and a deserving spot at the state tournament. The Massachusetts Interscholastic Athletic Association dug its heels in while clinging to an arcane bylaw that insists girls can compete in boys’ events, but that their scores can only count for the team portion – not the individual race. The subsequent social media firestorm had pros from both genders weighing in with support for Nash, while LPGA stars crafted a video tribute to Nash under the hashtag #EmilyWon. It’s an unfortunate situation, and one that should have been easily resolved. Hopefully the resulting controversy ensures a similar scenario won’t play out in the future. This week’s award winners …  In the Winner’s Circle: Ryan Armour, who earned his first Tour win at age 41 at the Sanderson Farms Championship. Armour has bounced between the PGA and circuits for a decade and had only one prior top-10 finish since 2008. Making the Most of It: Scott Strohmeyer. After surviving a pre-qualifier and winning a Monday qualifier with a holed bunker shot, Strohmeyer tied for fourth in his first career Tour start. The top-10 finish earns him a spot this week in Las Vegas. Taking Notice: Chesson Hadley, who was a runner-up in Mississippi and came away impressed with the aerial display from Strohmeyer over the weekend: Thanks for Stopping By: Shugo Imahira, who was disqualified from the WGC-HSBC Champions because he apparently saw an incorrect starting time and failed to show up for his 10:35 a.m. start to Round 3. But in the no-cut, limited-field event, he still went home with $43,000 in (unofficial) prize money. On the Mend: John Daly, who had to abruptly withdraw from the same event after re-injuring his knee in an on-course fall. Hopefully the two-time major champ can come back stronger in 2018, as he remains an asset for the tour. Wash, Rinse, Repeat: Bernhard Langer, who won a PGA Tour Champions playoff event for the second straight week. We ran out of superlatives long ago for the ageless German, who is now just nine wins shy of Hale Irwin’s all-time mark on the over-50 circuit. Back in the Saddle: Paul Casey, who will reportedly reinstate his European Tour membership for 2018. Suddenly, the European chances of winning back the Ryder Cup next fall at Paris seem decidedly better with the Englishman back in the fold. Blown Fantasy Pick of the Week: Hideki Matsuyama. A return to the site of his seven-shot romp from a year ago wasn’t enough to snap the Japanese phenom out of his months-long slide, as he tied for 50th and never broke par. Sigh.last_img read more

Communications platform

first_imgHARDWARE and software to integrate broad-band and internet-protocol communications networks have been developed for the transport industry by Neumann Elektronik of Mülheim an der Ruhr. Neumann’s new Multifunctional Digital Communications system (MDK) was unveiled in September at the InnoTrans 2000 show in Berlin.MDK will allow operators to manage all communications links in and out of integrated control centres, including safety-critical GSM-R radio data links, voice communications, ISDN and fax. It can also handle CCTV links to and from stations or depots, and automated passenger information announcements. Running on standard PC-based hardware, the software includes real-time system management and fault diagnosis with remote intervention functions.Neumann Elektronik GmbH, GermanyReader Enquiry Number 149last_img read more

Farmington may change zoning rules for vape shops

first_img Reported by With the practice of vaping a “growing problem” among local youth, Farmington city council members on Monday talked about how to better control the businesses that sell e-cigarettes and related products.Public Safety Director Frank Demers said that, while federal law prohibits selling those items to minors, state laws are still in the works. A teen is caught vaping on school property, for instance, would have only broken Farmington Public Schools rules.“The only enforcement action he can take is school administrative,” Demers said.Council members all supported a proposed ban on selling vape products to minors. However, Mayor Steven Schneemann asked about going a step further. He wondered whether the city could restrict vape shop marketing that is targeted to kids. In particular, he mentioned a downtown vape shop’s large front window sign advertising candy.City attorney Thomas Schultz said while the city could defend a ban on sales to minors, he was less certain about going beyond that. He also cited recent court rulings about signage as evidence that “free speech rules are getting tougher.”“We’re going to come to you with a sign ordinance that basically says you can have two square feet of area on the sign, and you can say anything you want on it,” Schultz said.Instead, he suggested that officials consider designating vape shops as regulated businesses, in the same way the city treats adult-oriented businesses.“Then you may have the authority to look at the signs you have in your window and things like that,” he said. “When a business comes through a special land use process, you can attach conditions to that.”Officials took no action; draft ordinances are expected on future agendas. admin Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)last_img read more

WV spikers chip in for Generika

first_img[/av_textblock][/av_one_full] [av_one_full first min_height=” vertical_alignment=” space=” custom_margin=” margin=’0px’ padding=’0px’ border=” border_color=” radius=’0px’ background_color=” src=” background_position=’top left’ background_repeat=’no-repeat’ animation=”][av_heading heading=’WV spikers chip in for Generika’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]BY ADRIAN STEWART CO[/av_heading][av_textblock size=” font_color=” color=”]Thursday, June 8, 2017[/av_textblock][av_image src=’’ attachment=’108291′ attachment_size=’full’ align=’center’ styling=” hover=” link=” target=” caption=’yes’ font_size=” appearance=’on-hover’ overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ animation=’no-animation’]Generika-Ayala Life Savers’ Genevieve Casugod slams the ball over the defense of Cocolife Asset Managers’ Erika Alkuino at the start of 2017 Philippine Superliga All-Filipino Conference at San Juan Arena on June 6. PSL[/av_image] [av_textblock size=” font_color=” color=”]MANILA – Generika-Ayala Life Savers relied on its Western Visayas trio to score a 25-14, 23-25, 25-15, 25-14 win over Cocolife Asset Managers at the start of the 2017 Philippine Superliga All-Filipino Conference at San Juan Arena.Ilongga Fiola Ceballos and Negrenses Patty Jane Orendain and Genevieve Casugod each scored 12 points to lead the way for Life Savers, which joined Foton Tornadoes on top of the standings, 1-0, after the Tuesday night victory.Tornadoes did not need much production from its veterans Jaja Santiago, Ennajie Laure and Maika Ortiz to score a 25-21, 25-16, 25-17 sweep over newcomer Cherrylume Iron Lady Warriors in the first game.“This is just a short tournament, a little more than one month to be exact. Every game is very important,” said Life Savers head coach Francis Vicente. “We are eyeing to barge into the top two of our pool.”Life Savers immediately jumped to an early 16-10 lead in the opening set behind hits from Ceballos, Orendain and Angeli Araneta. The lead later grew to double figures following errors from Asset Managers.After dropping the second set, Life Savers had a strong start in the third set as it erected a 16-5 advantage. Conversions from Araneta and Casugod allowed Life Savers to widen the lead further and take a 2-1 set lead.It was almost the same story for Life Savers in the fourth set as it opened an 18-10 advantage on hits by Orendain and Ceballos. Errors by Asset Managers down the stretch allowed Life Savers to easily win the match.Michelle Gumabao top-scored with 12 points — on 10 attacks, one block and a service ace — while Jeanette Villareal had seven points for Asset Managers, which looks to bounce back against Iron Lady Warriors tonight./PNlast_img read more