The Canadian government unveiled the plans to develop that connects Quebec City and Toronto, which is being hailed as a landmark move. The ambitious project can completely revolutionize intercity transit through Canada’s most densely populated corridor, promising immense economic and environmental benefits.
ºìÌÒÊÓƵ Blog - By Tag: canada
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Canada is the largest foreign supplier of crude oil to the U.S., exporting over barrels per day, which is more than half of total U.S. oil imports. If that supply suddenly disappeared, it wouldn’t just be a problem for North America; the implications of this would be prominent throughout the global energy market.
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Canada’s home-building industry, once marked by economic growth, is currently facing a series of challenges. The cost of building a home has skyrocketed as many of the factors involved in home building have increased. A few include high borrowing costs, rising construction expenses, a slowing buyer market, and several other challenges.
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The British Columbia Maritime Employers Association has locked out more than 700 supervisors at ports throughout British Columbia. At the same time, a strike at the Port of Montreal, the biggest port in eastern Canada, continues to cause problems. The has already led to partial closures, affecting 40% of the port’s container traffic. Shipping delays could quickly add up, potentially disrupting important international shipments and creating significant economic challenges for global businesses and consumers.
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“Clean beauty” has become more than just a trend. Consumers demand transparency, sustainability, and natural ingredients in their beauty products, so the industry has been racing to keep up. But behind the allure of “clean beauty” lies a complex web of supply chain problems and the threat of . Creating beauty products that are truly clean is far from simple, as many brands and business owners are discovering.
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Japanese products have been brought to the U.S. As 7-Eleven CEO Ryuichi Isaka stated, the was to “change (their) business model from one that relies on gasoline and cigarettes to one in which customers choose us based on (their) products.”
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With climate change exacerbating inclement weather and environmental norms across the globe, experts predict an increase of as much as degrees Fahrenheit in global temperatures by the end of the century. To help quell the rapidly rising temperatures, initiatives are pouring of dollars into new worldwide.
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Last week, the U.S. Securities and Exchange Commission, or SEC, authorized a new crypto product that could revolutionize the market. The SEC has approved applications to offer exchange-traded funds, or EFTs, to the market. More than billion dollars worth of ETFs were bought and sold during the first day of trading, showing the potential market in the future.
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During the mid-1970s, gained popularity among both men and women in Europe and North America. 50 years later, they're coming back in style.
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Europe is one of the most prominent travel destinations in the world, holding when viewing the Global and Regional tourism results. Their vast history, stunning views and elaborate architecture are some of the reasons Europe’s tourism is so high. However, the future of international travel will change in 2024 as the European Union (EU) requires travelers from the United States and sixty other countries to apply for authorization through the (ETIAS).
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Bubble tea, also known as “boba” or “boba tea,” has been making around the world, transcending borders and significantly impacting global businesses and trade. With its of traditional tea flavors, brown sugar-sweetness, an occasional caffeine kick, and chewy tapioca pearls- its claim to fame-, bubble tea’s journey from small teahouse delicacy to international stardom is a testament to innovation, cultural exchange, and the beverage’s irresistible charm.
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Reflecting on the past couple of months, many headlines have emphasized the hyperinflation businesses and individuals are feeling around the world; however, many analysts have questioned if these price hikes are inflation or "". Headlines across Canada specifically are calling out grocery store chains for of their goods. With rising inflation, the majority of companies are steadily losing profit with the exception of that are reporting high profits.
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You have most likely watched a show or movie on at one point or another. Whether it was borrowing a friend’s account or purchasing the subscription for a month and then getting roped into another, streaming services have become ubiquitous. Netflix has released multiple hit shows and classics to date yet is now the in the S&P 500. It is down year to date. What happened?
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Since the beginning of February, some Canadians have been deep into a series of protests called the "Freedom Convoy." This protest is led by truckers in response to from the Canadian government, which says that you must have a COVID-19 vaccine to cross the United States-Canadian border. Hundreds of trucks and truckers have participated in this protest. They began their blockade at the that links Canada to the United States and has since spread out into the surrounding areas. In an act of rebellion, the trucks have been honking their horns for hours on end. Canadian citizens living near the protests grew increasingly frustrated, which led to Prime Minister Trudeau invoking the , which allows the Canadian federal government to have temporary powers to do whatever may be necessary to stop the protests. The enactment of the Emergencies Act has led to arrests and decreased protests. Additionally, those who engage in the protests now run the risk of having their by their banks, which could prevent some people from paying their own bail after being arrested for charges related to the protests.
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The Olympics is one of the few events where people from all over the world gather together. People are competing for their home country while achieving individual accomplishments and record-breaking scores. It is a time of gathering and celebration. However, in order to make this event possible, the host country has to plan years in advance. Sports venues, athletes' accommodations, and transportation improvements are all necessary to prepare for the crowds. The venues, in particular, have received criticism over the past several decades. From the economy perspective, their creation costs are high with a low utility after the event. From the social perspective, millions of people were in order to make space for the constructions.
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As rides out the spiking of the Omicron variant, hopeful to see some type of stabilization from it, many have chosen to close their borders to people and businesses for a few weeks to avoid overwhelming hospitals. We’re seeing tighter restrictions and harder borders than we’re used to outside of the COVID-19 Pandemic world. As more variants continue to rise, it would be a good idea to look into how border closings affect businesses, customers, and how you may prepare your business for another possible closure.
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There is a new saying in the French Canadian province of Quebec: “No vax, pay tax.” Quebec plans to impose a “significant”on all unvaccinated residents, due to their health system deteriorating after the most recent surge of the COVID-19.
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Food, everyone eats it. It is a nutritious substance that helps maintain life and growth. What started as hunting in gathering turned into strolling through a grocery store, and paying a price for food. This year, world food prices have risen for the in a row according to the United Nations Food Agency. The price for food is at an all time high and is continuously rising.
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The housing market is an unforeseen casualty amidst the COVID-19 pandemic. According to the Bank for International Settlements (BIS), the . In the United States, Canada, Europe, New Zealand, and South Korea, the housing markets are seeing a surge in price growth, in some areas reaching price overvaluation of more than . More specifically, global house prices are nowhigher than their level immediately after the financial crisis and up in advanced economies. The even warned that real estate is “significantly overpriced” in June 2021, along with discussing the growing household debt repayment burden. In the rest of this blog, we will go over the reasons for the increased pricing, how countries and global institutions respond to them, and the actions different countries have taken to lower the costs.
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The Coronavirus pandemic has greatly modified every aspect of modern life for over a year now. The entertainment industry has had to change in many ways to adapt to the inability to perform in-person. A previous ºìÌÒÊÓƵ blog covered how the music industry has seen a massive drop in revenue, especially since up to 80% of a musician's revenue is gained during live concerts. How have other versions of live entertainment held up during the last year, and what are they planning on doing going forward?
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As the United States welcomes President Joe Biden, he has begun at a quick pace changing policies and reforming some government-related issues. One of them was the oil industry's reformation, concerning the United States' large oil infrastructure, but a huge gain for environmentalists across our globe.
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The coronavirus pandemic is seeing a large and hopeful light moving forward: the vaccine. Each country is putting together different plans to face the COVID-19 pandemic head on. Canada, the United Kingdom, and the United States are among the first countries to start distributing the vaccines with varying methods. Canada and the UK are both identifying priority groups and using their national healthcare to healthcare workers and to the elderly. The United States has taken a , allowing every state to define its own priority groups and how they will distribute the vaccines. The COVID-19 vaccine has been highly anticipated but has created new, unforeseen problems due to distribution and transportation. A few unexpected companies have risen up to match the challenges of distribution, storage, and space requirements.
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In current times, convenience has become a huge factor when consumers are scouring the market for goods and services. People want groceries to be delivered to their doorstep, entertainment at the click of a button, and two-day shipping as often as possible. Subscriptions are one area of convenience shopping that has gained popularity in the last decade. Netflix, Disney+, Hulu, and HBO dominate the television market. More and more often, we are seeing families cancel cable in favor of one or multiple of these television providers, many of which are offered at a lower monthly rate. These services also present a wide variety of shows and movies, making them more enticing to customers than traditional television.
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Early into the new year, waves of protests have emerged in Canada. Indigenous have begun to organize demonstrations to object the construction of a 670-kilometer pipeline (the Coastal GasLink pipeline) that passes through indigenous lands. One native group that opposes the project is known as the Wet'suwet'en, located out of British Columbia. The Wet'suwet'en did alternate routes to Coastal Gaslink, but the routes were rejected in favor of a path that was more technically viable and minimized environmental impact. Coastal Gaslink to have consulted with Aboriginal groups in the process of planning the route.
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As climate change increasingly becomes a bigger issue, investors and companies are looking for ways to minimize their environmental impact with regards to greenhouse-gas emissions. such as Aviva Investors and Aegon Asset Management are encouraging restaurants and food companies to reduce their carbon footprint and redefine their supply chain to be more environmentally friendly. Especially in the United States, this is a controversial period for this issue. Analysts are expecting climate change to be a key issue in the . It will be a tough negotiating point between all parties involved.
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Global mining companies have taken a beating in the past decade in one of the industry’s longest bear markets. The tracks the stock performance of 39 metals and mining companies across 23 developed nations and serves as a proxy for the overall global metals and mining industry. This index fell 18% in 2018 closing the year out 55 percentage points lower than its 2008 peak.
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The technology industry is made up of skilled workers from all over the world, and the success of this industry largely relies on the ability to share and develop different ideas. When countries enforce strict immigration laws, or prevent travel in and out of the country, it hinders the technology industry. This is pertinent considering the possible changes in immigration laws in the United States under the Trump administration which may include reducing visas, increasing deportation, and focusing efforts on what used to be considered sanctuary cities. Multiple technology companies have expressed complaints with these , including Microsoft, Amazon, Google, and Apple.
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Canada appears to be taking the brunt of political and economic uncertainty occurring in North America. A potential renegotiation of NAFTA, US tax cuts, and a weakening oil and gas industry are leaving investors wary of future economic growth in Canada. This speculation appears to be a reality for , who forecasted an average annual growth of 1.7% between now and until 2022. This is a rapid change of events for the country, who saw 3.7% economic growth in the past year and the jobless rate hitting a record low.
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This is the second post in a five-part blog series focused on the consumer products industry.
Adaptability, innovation, and differentiation are three important qualities consumer product (CP) companies must uphold in order to be successful in the ever-changing global market. The North American market upholds these ideas well through adapting technological improvements and having a good feel for the market climate. In turn with these abilities, the countries also work well with .
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The United States is Canada’s trading partner, and Canada is America’s . However, to what extent does the amount of trade between these two nations span? The Great Lakes Region is composed of the two Canadian provinces of Ontario and Quebec, and the eight states of Michigan, New York, Ohio, Pennsylvania, Minnesota, Wisconsin, Illinois, and Indiana. The Gross Domestic Product of the Great Lakes Region is , which means that if the region were a country, it would be the third largest economy right behind the United States and China. of bilateral trade is generated in the Great Lakes Region each year, and there is a highly integrated supply chain in order to sustain such a massive amount of exports and imports.
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The first round of NAFTA renegotiations between the United States, Canada, and Mexico concluded in Washington this past Sunday. Trade representatives from each country began to lay out their goals for a probable update of NAFTA policy. The 24-year-old trade bloc, which was established to eliminate barriers among its three trade partners, has garnered intense backlash in recent years. According to data from the Bureau of Labor Statistics, . In addition, NAFTA has caused Mexico to lose 1.3 million farm jobs due to removed tariffs that rendered Mexican farmers effectively noncompetitive.
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Contrary to many people's beliefs, cannabis can be useful as a . These are just a few of the reasons citizens have been speaking out to their governments worldwide about the legalization of medical marijuana.
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On April 26, United States President Donald Trump announced plans to "re-negotiate" the terms of the North American Free Trade Agreement (NAFTA) with Canada and Mexico. As related in a , the administration had intended to completely withdraw the U.S. from the trade deal, but was dissuaded from doing following conversations with Canadian Prime Minister Justin Trudeau and Mexican President Peña Nieto. At present, NAFTA stands in its current form, although the U.S. has explicitly stated its desire for major changes to the trade deal. The situation is predictive of a potentially volatile future for NAFTA and trade relations between the U.S., Canada, and Mexico.
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is the world's 12th largest coal producer, contributing close to 10% of greenhouse gas emissions overall. However, Canada plans to fully phase out coal power by the year 2030. Canada's largest province, Ontario, phased out coal power in 2014, so the remaining four provinces that still use coal-fired electricity will be the next in line.
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In North America, there are currently . According to a senior central bank official, the will not respond mechanically to any future move by the U.S. Federal Reserve to raise interest rates. Deputy Governor Timothy Lane spoke to an audience in Waterloo, Ontario and stated that “tighter monetary policy in the U.S. would lead to higher market interest rates globally, producing a tightening effect for Canada.”
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Valeant Pharmaceuticals International Inc., a corporation based in , is currently in talks to sell Salix Pharmaceuticals Ltd., a company that manufactures gastrointestinal drugs. Valeant originally acquired Salix in March 2015 for $14.5 billion. The purchase was part of a growth strategy of buying businesses with reputable products and cutting their research costs to maximize profits. However, Valeant lost much stock value over the past year due to unethical business activities, including . Recently, the company undertook major efforts to change its leadership, settle its legal suits, pay off its debts, and re-establish growth. ; just this week, news of the potential sale increased Valeant's stock by 34%. While prospective clients have been mostly kept anonymous, 's Takeda Phamaceutical Co. Ltd. has expressed public interest.
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For the past five years the and have been negotiating the terms of a comprehensive free trade agreement. The Comprehensive Economic and Trade Agreement, or CETA, would , leading some experts to predict an . CETA was in its final form, with a , but the deal was blocked at the last minute by Wallonia, the French speaking region of .
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In efforts to dominating the global , has made tremendous attempts to promote mining overseas. With increased international mining initiatives, many Canadian corporations have been fueling their resources to expand globally. According to the Huffington Post,
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Chaos flooded the streets of Berlin. 80,000 protesters gathered, while up to , to express their strong opposition to the proposed Transatlantic Trade and Investment Partnership (TTIP) between the and the . In 2013, the EU and the US began negotiating a trade deal, hoping to create the The proposed deal promises to lower tariffs, and hopes to promote economic growth overseas. Protesters fear the deal will lead to an increase in outsourcing and unemployment, as it favors industrialized processes over non-GMO privatized food production. This prioritization would likely cost thousands of jobs and could potentially compromise food safety and employment standards.
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On July 11, Prime Minister Justin Trudeau, President Petro Poroshenko, and Ukrainian Prime Minister Volodymyr Groysman together . The agreement, signed in Kiev, is meant to further improve market access between the two countries, settle trade conditions, create jobs, and cement their status as allies. The Canadian government has been a fervent supporter of Ukraine ever since the nation's first clashes with , which left Ukraine in war-torn, economically faltering conditions. Talks for CUFTA between the two countries had been going for months before final negotiations wrapped up last year. Now, signifies Canada's continued support of Ukraine in the face of its struggles.
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On Wednesday, President Barack Obama, Prime Minister Justin Trudeau, and President Enrique Peña Nieto will . The meeting, commonly referred to as the Three Amigos Summit, has gathered almost every year since 2005 to discuss strategic cooperation and important economic issues. This year's meeting in particular will prove to be of high significance. The primary objective of the 2016 Summit is to develop clean power plans for each country in the continued combat against climate change. However, recent political developments may cast a shadow over this year's talks.
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Wildfires in have halted oil production, causing oil to drop for the , making this the longest stretch of declining oil in over a month. were halted due to the continuous wildfires over the course of May. has taken many shifts in directions, which has caused these fires to be more difficult to contain. However, stated on May 20th that conditions were improving and mandatory evacuations orders for seven oil-sands worker camps have been lifted, and operations are underway again.
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Through a trade relationship that generated $ 1.2 billion exports in 2013, Canada is the largest importer of food and agricultural products. Michigan’s geographical location in combination with the strong trade partnership between the United States and Canada helps facilitate Michigan food and agriculture exports to Canada.
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Oil prices , and hit a five and a half year low on Monday. Many analysts are projecting that the price of oil is only going to continue to decrease in the near future. This drop in oil prices is having a drastic effect in a multitude of sectors of the economy, all across the world. What is causing oil prices, which have continually risen in the past decade, to suddenly crash? There is not a single source of this crash, but rather a plurality of causes.
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For the first fiscal quarter of 2014, . Although the U.S. markets picked up after a rough winter, GDP growth is still set to decline by 0.5% according to the Globe and Mail. Meanwhile, saw GDP growth of 1.7% in the first quarter, and although this is down from 2.9% in the previous quarter, GDP growth is still healthier than that of the U.S.
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On February 19th, President Barack Obama flew to to meet with Mexican president Enrique Peña Nieto and prime minister Stephen Harper, approximately twenty years after the three nations had signed . The goal of the Toluca summit was to attempt to reduce trade frictions and come to agreement on trade conflicts between these countries. Issues discussed included Obama's trade executive order, the controversial Keystone XL oil pipeline, the "trusted traveler" program, updating NAFTA, and the Trans-Pacific Partnership.
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The Trans-Pacific Partnership, or TPP, is a trade agreement between twelve countries, including , , , , , , and . This agreement, if ratified, would eliminate almost all trade barriers between these twelve countries, uniting them in the largest free-trade zone in world history. The problem is, it doesn't seem to be getting approved anytime soon; talks that occurred just last week in ended with . As the partnership has been undergoing negotiation talks for years, it is wondered how much longer it will take for the countries to cooperate on certain final issues and establish the partnership.
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As the world becomes increasingly globalized, workers from around the world are experiencing increased opportunities to work abroad. This is exactly what is occurring in . As the province of Alberta continues to boom economically, Canadian companies are in need of a labor supply. With too few Canadians to fill the extra jobs needed, Canadian firms have begun recruiting internationally. The international recruiting strategy has been very successful as from the and . This development in Canada is a testament to the many benefits of international business.
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, the third largest economy entity in the euro zone, is facing difficulties on its way to economic recovery and is seeking help from a governor. Taking the term from Sir Mervyn King, Mark Carney became the new governor of the with hopes of bringing a breath of fresh air to the British economy. Before entering Carney’s time in charge, let’s take a glance at the British economy and predict the future trends under Carney’s lead.
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For the most part, my pennies spend most of their time collecting dust in either the bottom of my wallet or in the cup holders in my car. Apparently , among other countries like Australia, Brazil and Sweden, has had enough with the cumbersome coins as well. As of February of 2013, , considering the cost of manufacturing them is even more than the worth of the penny. Should the and the . follow in Canada’s footsteps and eliminate the penny?
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Latin America, a region once , has seen a drastic shift in spending and consumption trends in the past decade. This shift of consumption has been due to multiple factors, particularly the economic boom and declining poverty of the region. In the past decade, 50 million people in Latin America have joined the middle class according to a .
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because of global warming and a drought in the Corn Belt region of the . Climate change and the resulting increase in temperatures in the last 50 years have extended the growing season in Canada’s Prairie Provinces approximately two weeks. The Prairie Provinces: Alberta, Saskatchewan, and Manitoba have long been big producers of wheat, but are now beginning to incorporate and in some cases completely switch to corn. This is due to a decrease in corn supply in the drought-ridden Midwest region of the United States, high demand for the crop, and the fact that corn has a higher yield than wheat on a per acre basis.
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In an effort to develop closer trade ties with China, Canadian Prime Minister Stephen Harper met with Chinese Prime Minister Wen Jiabao in Beijing last week. Canada’s goal is to continue to in hopes of decreasing its reliance on trade with the United States. This goal especially relates to the oil industry and Canada’s effort to overcome the increasing environmental regulations being imposed by the United States. Canada sees China as a solid alternative for trade because of its vast market size and high demand for foreign oil.
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Forbes has just released its list of "Best Countries for Business" and this year has reached the top. Canada jumped up from last year’s number 4 spot to claim the top spot on the list. Countries were ranked based on “property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.” Through a variety of reliable sources, Forbes was able to evaluate based on these characteristics and rank the countries in order of business attractiveness.
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A new by KPMG is claiming that the clean technology sector is a strong force in the economy of several Canadian provinces, including British Columbia. The report says that clean tech firms will directly generate over $2.5 billion for the economy in 2011, not including other economic benefits created by these companies. This is a 57% increase from 2008. The growth is not expected to slow either; KPMG has stated that the sector will grow 16.5% to 8,400 employees in 2011.
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A new by Aon Consulting determined that Toronto is the most desirable city in the world for to recruit and hire employees. The research included 90 cities world-wide, and compared cities based on demographics, education, government regulations, and employment practices.
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Spanning across the Detroit River just over a mile long between Detroit, and Windsor, Ontario, the eighty-one years old Ambassador Bridge is the busiest commercial border crossing in . It's also .
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The global recession caused many companies to delay any expansion goals and to stay away from risky proposals. , for example are still risk-averse, however their concerns about future growth is making start considering expansion again. Some . companies are taking steps into international expansion into .
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As the continues, it is important to understand the nuances of the Free Trade Agreement (NAFTA) which make the implementation of NAFTA’s goals possible. One of the largest barriers to getting the agreement passed, and which still creates issues today are the legal issues surrounding the agreement, as well as how it deals with the differing legal systems of each of the countries involved.
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Why should a small business enter the Canadian and Mexican market? There are a plethora of opportunities in both countries. From a perspective, they are the largest foreign investor in and the most popular destination for Canadian investment. The U.S. exports to Canada exceed their exports to the entire European Union. isn't far behind with the second largest market in the world for U.S. exports. In 2007, U.S. and Mexico two-way trade exceeded one billion dollars a day. I will briefly discuss both the challenges, potential, and strategies for entering both the Canadian and the Mexican market.
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An integral part of the Trade North America Conference are sessions about the North American Free Trade Agreement (NAFTA). It is essential to be educated about NAFTA in order to be able to expand your business in .
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The Trade North America Conference, happening in Detroit this week, is a great opportunity for the Midwest regional business community to learn about today’s trade climate. Underscoring the importance of the event, Undersecretary of Commerce, and former Governor of Michigan, will be speaking. The focus of the conference is to equip businesspeople with information which will enhance their ability to successfully export products to Canada and Mexico.
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What do you do when your cell phone company changes its prices in the middle of your two year contract? If you terminate your contract, you will be charged and you cannot simply say "no" to the changes. Some companies promise fixed rates while the contract lasts; however, in many countries in the world, companies have a policy of "prices are subject to change". The reason why a cell phone company would decide to raise prices is in the hope to make a bigger profit - you either pay the high price or you pay the charge to cancel. However, this is where they go wrong.
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Check out this ranking of the top MBA programs outside the US, from . Just in case you're curious, here are the contenders:
- Queen's University, in
- IE Business School, in
- INSEAD, in
- University of Western Ontario, in
- London Business School, in the
- ESADE, in
- IMD, in
- University of Toronto, in
- IESE, in
- Oxford University, in the
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Passport requirements have been a complicated issue for travelers in
These new regulations will have a tremendous economic effect on the involved nations.
Tourism in