Why Canada’s economy was so ‘ugly’ in the second quarter

The Canadian economy shrank 1.6 per cent in the second quarter, with Alberta’s wildfires taking much of the blame for the poorest quarterly performance since the Great Recession. Statistics Canada said Wednesday real gross domestic product declined by an annualized 1.6 per cent from April to June, slightly more than the 1.5 per cent economists had expected. That was the largest quarterly decline since the second quarter of 2009, when the country was grappling with the fallout from the global financial crisis.“We knew for the past four months that today’s GDP report was going to be ugly, and it delivered with a capital U,” BMO chief economist Douglas Porter wrote in a note. The decline was much worse than the 1-per-cent contraction the Bank of Canada had predicted in its June monetary policy report.The story behind the headline number was largely due to the 16.7 per cent annualized drop in exports, …

Canadians relieved, says Trudeau, after professor released from Iran

In a sign of easing tensions between Ottawa and Iran, ailing 65-year-old Montreal professor Homa Hoodfar was released from Tehran’s Evin prison and allowed to fly back to Canada, through Oman.“I would … like to recognize the co-operation of those Iranian authorities who facilitated her release and repatriation,” said a statement from Prime Minister Justin Trudeau, welcoming her freedom. “They understand that cases like these impede more productive relations.”He said that “Canadians are relieved that Dr. Hoodfar has been released from jail and will soon be reunited with her family, friends, and colleagues.”Kaveh Ehsani, a DePaul University assistant professor in Chicago, and supporter of Hoodfar, confirmed that “Homa is indeed released and out of Iran,” but added that the family called for privacy before making further statements.Hoodfar, a retired Concordia University professor, was first detained and interrogated in March, released on bail and rearrested in June, …

Set-top box crackdown will chill Canada's tech innovation: Geist

The ability to record television programs is a feature that most consumers take for granted today, but when the Sony Betamax was first introduced in the 1970s, it revolutionized television and sparked high-profile lawsuits by the major Hollywood studios who wanted to block its availability. The battle between Universal Studios and Sony ultimately made its way to the U.S. Supreme Court, which ruled that Sony was not liable for contributing to copyright infringement since its product had substantial non-infringing uses.The battle between established players and distributors of disruptive technologies has since played out many times in courtrooms and legislatures around the world. From the introduction of the portable MP3 player (which the recording industry tried to stop in a 1999 case) to disputes over the availability of virtual private network services, judges and policy makers often return to the U.S. Supreme Court’s recognition that stopping the distribution …

Central Ontario Canadian Association of Family Enterprise Forum: Family business needs support

The morning sun is barely cascading off the paned glass of Toronto’s Metro Convention Centre, yet across the road in CBC’s Glenn Gould Studio excited handshakes and coffee jitters ping pong between a growing group of well-dressed men and women.

The crowd is a unique bunch – there are lawyers and bankers, a menswear industrialist, and two coffee-making brothers.

But the one facet tying each entrepreneur, wealth manager, and solicitor in the room together is family enterprise.

Everyone is here for the third bi-annual Central Ontario’s Canadian Association of Family Enterprise (CAFE) Forum – a series of short talks by individuals involved in family businesses.

“Every business is unique but there are threads that run through successful family businesses that lead to multi generational success,” says Emma Ramos, Managing Director of CAFE Central Ontario. She adds that the point of the forum is to draw the family business community …

Canadian figure skating star Patrick Chan comfortable without coach

Two months before competing in his first international event of the season, Canadian figure skater Patrick Chan still isn’t ready to name a new coach.That suits him just fine.Chan, a three-time World Champion who’s been without a coach since Kathy Johnson announced her resignation last week, said Wednesday at a Skate Canada high performance camp that he’s comfortable working alone — at least for now.“I think it’s refreshing,” said the Toronto skater said following a practice session at the Hershey Centre.“I’ve spent a lot of time working with a coach and it’s nice to just step back and skate on my own and be in a good environment.”Chan had moved his training base from Colorado to Michigan during the summer of 2013 to work with Johnson at the Detroit Skating Club.The two had planned to relocate to Vancouver this summer …

Is Canada a world leader on climate change?: Olive

Will the world follow Canada’s example in fighting climate change? It should, according to the editorial board of Bloomberg News.Prime Minister Justin Trudeau ruffled feathers last week by giving the provinces and territories two years to sharply cut carbon emissions to achieve targets to which Canada committed itself at last year’s global-warming conference in Paris. Fortunately, even those Canadian jurisdictions at odds with Trudeau seemingly acting by fiat last week have impressive CO2-emission reduction schemes underway. Ottawa has no desire to interfere with those. The PM does realize that nothing big is achieved without a deadline. In its editorial, “Canada Sets the Trend on Climate,” Bloomberg said Trudeau’s approach (a) signals to the world Canada is serious about meeting its Paris obligations, (b) shows that even a fossil-fuel producing jurisdiction can summon the will to tax carbon, and (c) is revenue neutral, not a tax …

Retired RCMP officer, businessman and optometrist identified as victims in crash that killed Prentice

The plane carrying former Alberta premier Jim Prentice and three others crashed only eight minutes after take off, killing all on board, the Transportation Safety Board said Saturday. 
The TSB said the Cessna Citation disappeared from radar at 9:40 p.m. PT on Thursday, only 11 kilometres north of Kelowna Airport.
“Initial examination suggests the aircraft was destroyed from high deceleration forces after a vertical descent,” said Beverley Harvey, the TSB investigator-in-charge.
“There were no emergency or distress calls made,” she said.

Overview of Cessna Citation wreckage showing landing gear (TSB)

The plane, which was built in 1974, was not equipped with a cockpit voice recorder or a flight data recorder, Harvey said, adding that it was not a requirement.
She said investigators would review any electronic components that could give them clues as to the cause of the crash.
Five investigators are currently at the site, and the full investigation will take …

Canada’s 2018 FIFA World Cup hopes end

VANCOUVER—Canada’s last-dash hopes of qualifying for the 2018 FIFA World Cup in Russia have ended.Cyle Larin, Nikolas Ledgerwood and David Edgar all scored for the Canadian men’s soccer team on Tuesday night in a 3-1 victory over visiting El Salvador. But a 0-0 draw between Honduras and Mexico — also played Tuesday — meant Canada finished third in Group A of CONCACAF qualifying.The Canadians entered their match with El Salvador needing the win, but it also needed to overcome a five-goal differential and for Honduras to lose outright to Mexico. Honduras earned a point in its draw.Mexico …
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How well did Team Canada really do? We show you, in graphics

RIO DE JANEIRO—With 22 medals, including four gold, and heartwarming and heartbreaking performances off the podium, the Rio Olympics arguably have been Canada’s best Summer Games.In the bigger picture, things worked out well for the Canadians. But break the medal count down a little, take a closer look, and it’s clear some sports delivered far more than expected while others posted some disappointing results.“There’s definitely going to be a review across the board of all sports federations as to where they viewed their performance,” chef de mission Curt Harnett said Sunday, as the Rio Olympics …
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Canada has consensus U.S. lacks on key issues: Hébert

MONTREAL—Looking back on the year since voters handed Justin Trudeau a majority mandate it is impossible to overstate the contrast between post-election Canada and the pre-election United States.Much, of course, has already been said about Trudeau’s knack for connecting with people, his relative youth for a government leader, his enduring popularity at home and his rock star debut on the international scene.But notwithstanding the stardust that sticks to the prime minister, the contrast is more than skin-deep. It is based on a high level of consensus that transcends party lines.Canada increasingly stands out for not …
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