#Vancouver, #British Columbia, #B.C., #Amazon, #JustinTrudeau, #techhub, #NorthAmerica, #Seattle
Vancouver, Apr 30 (Canadian-Media): Seattle-based technology giant Amazon has announced plans to bring 1,000 new high tech jobs to Vancouver, British Columbia (B.C.) by 2020, media reports said.
Last November, Amazon had reportedly confirmed plans to open another downtown site on Dunsmuir Street in 2020.
In Vancouver's bid to host Amazon's proposed new corporate base, HQ2, last year, the city was considered as the best value option with the best location.
Vancouver's proximity to Seattle (United States) the company's second North American base was another advantageous
The West Coast city failed to make the short list of cities; Toronto was the only Canadian city to make the first cut.
The new jobs will reportedly focus on e-commerce technology, cloud computing and machine learning.
With the revamped site expected to open by 2022, staff will be moved out of the city's old Canada Post building on West Georgia Street.
A statement said the space will be redeveloped, but the architecture will be preserved as a heritage initiative.
"Canadians share your passion for invention and your commitment to excellence, and that's why we are excited to see Amazon grow here in Vancouver," said Canada's Prime Minister Justin Trudeau who was present there for the announcement at the future Amazon site on Monday morning.
Alexandre Gagnon, Amazon's vice-president for Canadian operations was also present during the announcement and he said the announcement was a "milestone" for the company.
Currently out of 6,000 people employed for Amazon across Canada, 1,000 of them are reportedly based in Vancouver at several sites, including the company's Telus Garden location on Georgia St. downtown, which opened in 2015.
Vancouver, Apr 30 (Canadian-Media): Prime Minister Justin Trudeau announced Monday Amazon's plan to expand its Vancouver tech hub by adding 3,000 new jobs by 2022 , media reports said.
Last November, Amazon confirmed plans to open another downtown site on Dunsmuir Street in 2020.
In the bid put by Vancouver to host Amazon's proposed new corporate base, HQ2, last year, the city considered as the best value option with the best location, with its proximity to Seattle for what would be the company's second North American base.
The West Coast city ultimately failed to make the short list of cities; Toronto was the only Canadian city to make the first cut.
Its new tech hub with focus on e-commerce technology, cloud computing and machine learning reportedly will be at the old Canada Post building at 349 West Georgia Street.
A revamped site expected to open by 2022 would habitate the staff from city's old Canada Post building on West Georgia Street.
It was reportedly stated that the space will be redeveloped, but the architecture will be preserved as a heritage initiative.
"Canadians share your passion for invention and your commitment to excellence, and that's why we are excited to see Amazon grow here in Vancouver," said Trudeau who along with Alexandre Gagnon, Amazon's vice-president for Canadian operations was present at the announcement of the future Amazon site on Monday morning.
About 1,000 people in Vancouver at several sites were already employed by Amazon and Gagnon said the announcement was a "milestone" for the company.
Currently, around 6,000 people for Amazon across Canada, with 1,000 of them based in Vancouver at several sites, including the company's Telus Garden location on Georgia St. downtown, which opened in 2015.
Marlos C. Machado, former PhD intern at IBM research had tweeted,
'That's great news for the AI community in Canada! Amazon is expanding its Vancouver tech hub with a new headquarters! Edmonton lost the competition for those headquarters but I'm glad it ended up in Canada.'
(Reporting by Asha Bajaj)
#Vancouver, #Victoria, #BritishColumbia, #B.C., #DanMcTeague
Vancouver (B.C.), Apr 30 (Canadian-Media): Gas prices continue to break records as prices hit 160.9 cents for a litre in Vancouver, British Columbia (B.C.), media reports said.
Many drivers woke up Sunday morning to learn that the pump price jumped a full cent overnight Saturday.
Vancouver now reportedly has the highest gas prices of any major city in North America, with Victoria in second place.
Gas prices in Masset B.C. increased by five cents per litre overnight Saturday to 173.3 cents per litre.
Jump in prices were reportedly attributed to the weak Canadian dollar and two gas refineries being under maintenance.
It is predicted that by Wednesday gas prices would rise to 161.9 cents per litre in Vancouver.
Gas prices often also rise in the summer as people drive more to take trips and according to reports prices then could go as high as $1.65 per litre.
On Sunday, drivers around Vancouver vented on social media about the prices.
Some Metro Vancouver drivers were shocked as gas prices broke an all-time record Sunday.
“The 1.619 represents the single largest price point ever paid at any gas station, or any regional gas station across North America in the history of fuel.” Dan McTeague with GasBuddy.com said.
“That beats the all-time record that was established in Los Angeles back in 2008. So now Vancouver has stolen that title and it looks like these high prices are here to stay,”
“There’s a likelihood that we could hit 1.65 sometime just after the May long weekend.”
He says multiple factors have affected prices, but admitted blocking the Trans Mountain pipeline expansion is not helping the situation.
#Air Canada, #AirCanada'scostperavailableseatmile, #CASM, #CalinRovinescu, #BenjaminSmith
Ottawa, Apr 30 (Canadian-Media): Air Canada’s increased capacity and passenger traffic resulted in the growth in revenue compared with last year, media reports said.
Air Canada also reported a smaller-than-expected loss in its first quarter as its revenue
#JustinTrudeau; #honoratydegree; #EconomicClubofNewYork; #SolveatMITconference; #Boston, #U.S.
Ottawa, Apr 27 (Canadian-Media): Canada's Prime Minister Justin Trudeau will accept an honorary doctor of laws degree from New York University during his three-day trip to the United States (U.S.) next month.
"We live in a time of tremendous change and face challenges global in scale. Finding solutions shaped across borders, involving every generation, is imperative," Trudeau said in a statement. "I look forward to visiting the United States to speak with graduates and those at the forefront of innovation to look at what we can, and must, do to build a better tomorrow for future generations."
Trudeau would reportedly speak to graduates at the New York University's 186th commencement ceremony, and will address the Economic Club of New York to promote investment in Canada.
During May 16-18 visit to Boston, Trudeau will reportedly highlight the strong economic partnership between the United States and Canada and the importance of working together to find solutions to global challenges.
Economic Club of New York/Facebook
In Boston, Trudeau will also take part in the 'Solve at MIT conference'.
The conference would be attended by a group of more than 300 leaders from businesses, foundations, non-profit organizations, government, academia and the media and would discuss possible solutions to issues related to health, education, infrastructure, energy and food supply.
(Reporting by Asha Bajaj)
#CityofToronto, #Moody'sInvestorsService, #JohnTory, #GaryCrawford, #JoeFarag
Toronto, Apr 23 (Canadian-Media): City of Toronto Media Relations has issued News release today to reaffirm City of Toronto's Aa1 credit from , media reports said.
City of Toronto's credit rating of Aa1 with a stable outlook was reaffirmed by the international bond credit rating firm Moody's Investors Service (MIS), which reflects Moody's assessment of the macroeconomic and funding linkages between the Province of Ontario and its regional and local governments and government-related issuers.
MIS is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name and provides international financial research on bonds issued by commercial and government entities.
The City's strong credit ratings are also a reflection of its consistently positive operating results, relatively high liquidity/cash reserves, low debt burden as well as conservative debt policies.
The City of Toronto's AA/AA+ credit ratings are backed by the most diversified economy in Canada and a broad and stable tax base.
"Toronto continues to be a solid investment in global markets," said Toronto Mayor John Tory. "The City is on stable financial footing thanks to the good work of this City Council and our professional City staff. Over the last four budgets, we have limited property tax increases to at or below the rate of inflation while investing in important services that our residents expect and key initiatives that keep life in Toronto affordable."
"Toronto's economic size, diversity, and vitality provide for an increasing degree of fiscal independence from the Province and have ensured that the City's credit rating remains strong," said Councillor Gary Crawford (Ward 36 Scarborough Southwest), Chair of the Budget Committee. "I'm proud to be part of the steady leadership of Mayor Tory's administration that has produced four balanced budgets and maintained our City's excellent credit rating."
"The City of Toronto is recognized as an important participant in global financial markets," said Interim Chief Financial Officer Joe Farag. "Maintaining a high quality credit rating will enable the City to continue to borrow at a lower cost and offer its debt to a wider market."
#Canada'sInflationrate, #StatisticsCanada, #DougPorter, #BankofCanada
Ottawa, Apr 20 (IBNS): Canada's Inflation rate, highest since year ending in March 2014, is at 2.3 percent, in part because of higher gasoline prices, media reports said.
Seven of the eight components tracked by the data agency rose in March, Statistics Canada reported today.
Clothing and footwear were exception, which got 0.1 percent cheaper in the previous 12 months.
Gasoline prices were 17.1 percent higher in March than they were a year earlier.
" Pump prices were up 2.9 per cent in the month," Bank of Montreal economist Doug Porter noted after the numbers came out, "and they are on track to rise another five per cent or so in the current month."
The country's overall inflation rate, leaving gasoline out of the numbers, would have been 1.8 percent.
The country's inflation data is scrutinized by the Bank of Canada when it considers interest-rate decisions and inflation rate is now right in the range that the bank targets.
(Reporting by Asha Bajaj)
#Nunavut, #Canada, #tobacco, #StatisticsCanada, #DanielYoung
Ottawa, Apr 16 (IBNS): There had been a decline in Tobacco's sale in Nunavut an year after a new tax was introduced in Nunavut, media reports said.
Increase in cost of one pack of cigarettes was by about one dollar after the introduction of the tax in March of 2017.
Taxes on loose tobacco and chewing tobacco increased by 20 cents a gram.
10 months following introduction of taxes in Nunavut, its tobacco sales declined two percent year-over-year.
Sales of loose tobacco declined by 29 percent, and chewing tobacco sales declined 15 percent.
"We take it as a good news story," said Daniel Young, the director of fiscal policy for the territorial government.
"The more people that we can prevent from starting to smoke, the more smokers we can encourage to smoke less, is great."
Nunavut records Canada's highest smoking rates is found in Nunavut, estimated at 62 percent in 2014 Statistics Canada data.
In 2016, an estimated nine out of 10 pregnant women in the territory smoke, according to a territorial government representative.
Anti-smoking rules, said Young caused the decline in sales of tobacco and added despite declines in sales, the government was able to collect an extra $3 million in revenue due to the tax.
(Reporting by Asha Bajaj)
#Quebec, #Ontario, #Alberta, #BritishColumbia #Canada, #marijuana, #HydropothecaryCorp,, #HealthCanada, #AccesstoCannabisforMedicalPurposesRegulation, #Saskatchewan
Ottawa, Apr 12 (Canadian-Media): Six companies including: Hydropothecary Corp, Canopy Growth and Aphria Inc, MedReleaf Corp, Aurora Cannabis and private equity firm Privateer Holdings-backed Tilray Canada have signed agreements with Quebec’s liquor board to supply the province with marijuana when Canada legalizes its recreational use this year, the companies said in separate statements on Wednesday, media reports said.
As much as 62,000 kg (136,687 pounds) of marijuana in total would be supplied by these companies to the province in the first year.
Most of the agreements are for at least three years.
The Hydropothecary Corporation, licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulation and is an authorized producer and distributor of medical cannabis.
Hydropothecary, the biggest supplier, with a five-year agreement, has agreed to the sales of 100,000 kg in the first three years.
Hydropothecary creates award-winning innovative, easy to use and easy to understand products.
Hydropothecary is rapidly increasing its production capacity in the lead-up to recreational adult-use cannabis.
Expansion plans will result in a total of 1.3 million sq. ft. of production space, producing 108,000 kg of dried cannabis per year, making Hydropothecary one of the largest producers in the country.
Hydropothecary, headquartered in Quebec, is one of the lowest-cost producers in the country.
The province plans to open 20 government-run stores upon legalization.
Final vote on legalizing marijuana is set on June 7 by Canada’s senate,
The sales marijuana are expected to start in the fall.
Provinces, including Quebec and Ontario, plan to open government-run stores.
Other provinces such as Alberta and Saskatchewan will open private ones.
British Columbia plans to have both government-run stores and private ones.
(Reporting by Asha Bajaj)
#NewfoundlandandLabrador, #TomOsborne, #LarryShort, #NalcorEnergy
N.L., Mar 27 (Canadian-Media): Newfoundland and Labrador (N.L.)'s theme of this year's budget is "building for our future," but Finance Minister Tom Osborne has pointed out the province is projecting a deficit of $683 million for the 2018 fiscal year, media reports said..
"Our goal is to manage through this tough phase," Osborne said in his budget speech, delivered in the House of Assembly last week.
Inspite of being optimistic and its continued plan to balance the books within four years the situation reportedly looked bleak for 2018.
For the books to be balanced in four years time, the government reportedly expects to spend $450 million less in 2022 than it has projected to spend this year.
2018 budget reportedly has no big new spending, taxes or cuts but other details are lacking.
A $683-million shortfall is projected in 2018-19.
In a year's time, the province will have an estimated net debt of $15.5 billion on the books — nearly double the level of a decade ago.
"It's a nothingburger.- financial analyst Larry Short"It's a nothingburger," said St. John's financial analyst Larry Short, who attended pre-budget briefings with CBC journalists.
Short said the Liberals were deferring the toughest decisions needed to balance the books for years to come.
The 2018 budget speech did not contain any mention of layoffs to come, although Osborne did note that 795 positions in government departments have been eliminated over the past two years to maintain service delivery and protect a vulnerable economy.
The province will instead focus on voluntary retirements in the bureaucracy to reduce its salary tab.
In the longer term, Osborne said, the province will continue to look for savings by reducing discretionary spending, and working with management and unions to address issues as overtime and sick leave.
The government also reportedly plans to consolidate its vehicle fleet under one department, which will result in the reduction of the number of vehicles by 10 percent.
There will also be a move toward making it easier to access government services online.
The 15 percent tax on automobile insurance will be cut by two percent on Jan. 1, 2019, and will see further one percent reductions in each of the next three years. In 2022, the auto insurance tax rate will be 10 percent.
The move only affects automobiles; home insurance will remain at 15 percent.
And a new search and rescue volunteer tax credit will be introduced for first responders in 2019.
There were also plans to spend $619.7 million on infrastructure.
And nearly $34 million has been set aside to fund the public inquiry into Muskrat Falls over the next two years.
The province will spend $724 million to Nalcor Energy this year, an investment that will support the completion of the troubled hydro megaproject.
(Reporting by Asha Bajaj)