Cannabis sales set to surpass alcohol profits after Canada legalises it next year

It could kick-start Canada’s economy (Picture: Metro.co.uk)Canada is set to legalise cannabis next year – sparking a multi-billion dollar industry that will overtake alcohol sales, a new study suggests.
The decision could kick-start the economy and eclipse the combined sales of beer, wine and spirits, according to the report from consulting firm Deloitte.
Distasteful Halloween costume mocks Kim Kardashian’s robbery ordeal
It could soon be worth $22.6 billion (£13.8 billion) and presents a ‘bold new landscape for Canadian businesses and governments alike’.
Mark Whitmore, vice-chair of Deloitte, told The Star: ‘There hasn’t been anything like this — and granted it wasn’t legislated — but you think of the dot-com flurry, it has that kind of feel to it.’
The report, titled Recreational Marijuana: Insights and Opportunities, concludes that Prime Minister Justin Trudeau’s legalisation of marijuana copuld provide the economy with a shot in the arm.
The industry …

Election isolation for US students in Canada

Like millions of other Americans, Charlotte Wong Labow tuned in to watch Hillary Clinton take on Donald Trump during the first presidential debate. But while the 19-year-old University of Toronto student was in good company globally, in her dorm room in Ontario she felt all alone. “I was so fired up while watching it, and after watching it I just wanted to be with Americans,” the Boston-area native said. Charlotte is one of an estimated 661,000 Americans living north of the border who is eligible to vote in the upcoming election, according to a study conducted by the Federal Voting Assistance …
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WORLD NEWS SCHEDULE AT 2100 GMT/5 PM ET

Editor: James Dalgleish + 1 646 223 6200Picture Desk: Singapore + 65 6870 3775Graphics queries: + 65 6870 3595(All times GMT/ET)TOP STORIES
Clinton campaign urges FBI to detail new developments in
email caseDAYTONA BEACH, Fla./GOLDEN, Colo. – Democrat Hillary
Clinton’s top aides lash out at FBI Director James Comey for
igniting a new controversy over a long-running private email
investigation less than two weeks before the presidential
election, saying there was no evidence of wrongdoing and
accusing him of spreading “innuendo.” (USA-ELECTION/ (UPDATE 1,
PIX), by Roberta Rampton and Steve Holland, moved, 619 words)+ See also:- USA-ELECTION/POLL, by Maurice Tamman, moved, 765 words- USA-ELECTION/WEINER (FACTBOX), by Jonathan …
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With 2-1 win over Maple Leafs, Canadians earn their seventh straight victory

Another big goal from Shea Weber and another strong start by Carey Price has kept the Montreal Canadiens winning streak alive.Weber scored on a third-period power play and Price made 37 saves as the Canadiens extended their streak to seven games with a 2-1 victory over the Toronto Maple Leafs on Saturday night.

“We struggled early in the game but we just seemed to come up with the timely one again,” said Weber, who has four goals in his first nine games as a Canadien, three of them by using his booming shot from the point on the power play.“ …
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Three-time world champ Patrick Chan golden at Skate Canada International

MISSISSAUGA, Ont. — Patrick Chan knows he needs the big jumps to keep pace with the world’s best skaters.But on one night at least, it was his artistry and overall skating skills that earned him the Skate Canada International title.Chan was debuting an ambitious program that included three quadruple jumps, he landed the first, but fell on the second, and turned the third into a triple and held on to win with 266.95 points.He fell on a quad Salchow, a jump he learned recently.”Good that I committed to it and rotated it. That was one of my fears …
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Patrick Chan golden at Skate Canada


MISSISSAUGA, Ont. — Canada’s Patrick Chan overcame a fall to win Skate Canada International on Saturday.


The three-time world champion from Toronto was debuting an ambitious new program that included three quad jumps.


He landed the first, but fell on the second, and turned the third into a triple, but helped by his high artistic marks, held on to win with 266.95 points.


Yuzuru Hanyu of Japan was second, while Kevin Reynolds of Coquitlam, B.C., took third.


Canada’s Meagan Duhamel and Eric Radford won the pairs title, while Kaetlyn Osmond was second in women’s singles.


Duhamel, from Lively, Ont., and Radford, …
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Canada has no plans for now to further cool housing

By Alastair Sharp

TORONTO (Reuters) – Canada is not considering further action to rein in the housing market at this time, the country’s finance minister said on Friday, even as he underscored that he will remain focused on ensuring that lenders behave prudently.

Earlier this month, the government tightened mortgage rules and closed a loophole on home sales, the second time it has acted in the last year to cool a market that some fear has become too hot.

“We will continue to be vigilant in monitoring the market,” Finance Minister Bill Morneau told reporters following a speech. “We have no further action under consideration in terms of housing.”

Morneau said it was too soon to judge the impact of the most recent changes on the housing market, but added that the government was monitoring the response. Some economists have suggested the tighter rules could dampen housing activity and weigh …
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EU and Canada to sign trade pact after Belgians strike key deal

By Robert-Jan Bartunek
| BRUSSELS

Canada and the European Union will sign a landmark free trade deal on Sunday after a series of key votes in Belgian regional assemblies on Friday ended opposition that had threatened to destroy the entire agreement.Soon after the final Belgian vote, European Council president Donald Tusk called Canadian Prime Minister Justin Trudeau and invited him to Brussels for the signing ceremony, which is scheduled for noon local time (1000 GMT).”The Canada-EU Summit will be Sunday. Great news and I’m looking forward to being there,” Trudeau said on Twitter.The Comprehensive Economic and Trade Agreement (CETA), which backers say will boost bilateral trade by 20 percent, appeared to be in trouble after Belgium’s French-speaking Wallonia region raised a series of late objections.All 28 EU governments back CETA but Belgium’s central government had been prevented from giving consent because it needed approval from sub-federal authorities.After Belgian politicians …
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Fitch Affirms Canadian Imperial Bank of Commerce at 'AA-/F1+'; Outlook Stable

(The following statement was released by the rating agency)
NEW YORK, October 28 (Fitch) Fitch Ratings has affirmed Canadian
Imperial Bank
of Commerce’s (CIBC) long- and short-term Issuer Default Ratings
(IDRs) at ‘AA-‘
and ‘F1+’, respectively. The Rating Outlook remains Stable.
This rating action follows Fitch’s periodic review of the
Canadian Banks Peer
Group, which includes Canadian Imperial Bank of Commerce (CIBC),
Bank of
Montreal (CIBC), Bank of Nova Scotia (BNS), Caisse Centrale
DesJardins (CCD),
National Bank of Canada (NBC), Royal Bank of Canada (RBC) and
Toronto-Dominion
Bank (TD).
Company-specific rating rationales for the other banks are
published separately.
For further discussion of the Canadian Banks sector, please
refer to the special
report titled ‘Canadian Bank Peer Review’ to be published
shortly.
Recently, the Ministry of Finance has announced important
changes to the housing
finance system in Canada. These entail the introduction of a
lender risk sharing
policy, tighter requirements …

Fitch Affirms Royal Bank of Canada's Ratings at 'AA' and 'F1+'; Outlook Remains Negative

(The following statement was released by the rating agency)
CHICAGO, October 28 (Fitch) Fitch Ratings has affirmed Royal
Bank of Canada’s
(RY) Long- and Short-term Issuer Default Ratings (IDRs) at ‘AA’
and ‘F1+’,
respectively. The Rating Outlook remains Negative.
This rating action follows Fitch’s periodic review of the
Canadian Banks Peer
Group, which includes: Bank of Montreal (BMO), Bank of Nova
Scotia (BNS),
Canadian Imperial Bank of Commerce (CIBC), Caisse Centrale
Desjardins (CCD),
National Bank of Canada (NBC), Royal Bank of Canada (RBC) and
Toronto-Dominion
Bank (TD).
Company specific rating rationales for the other banks will be
published
separately. For further discussion of the Canadian Banks sector,
please refer to
the special report titled ‘Canadian Bank Peer Review’ at
www.fitchratings.com.
Recently, the Ministry of Finance has announced important
changes to the housing
finance system in Canada. These entail the introduction of a
lender risk sharing
policy, tighter requirements …