12/04/09

10 Second Headlines of the Week 04-Dec-2009

Alberta’s budget update (New prices for fiscal year)

  • A one dollar change in the price of oil represents $143 million, and a 10 cent change in natural gas represents a $126 million.
  • A one cent rise in exchange rates = $221 million loss to the treasury.

U.S. businesses with less than 50 employees cut another 68,000 workers in November.

  • Small companies have collectively shed 2 million workers over the last 12 months of the 5.3 million in total that were lost this year.
  • Small companies employ about half of America’s non-government workers and generate the majority of new jobs.

China warns of possible gold bubble.

  • Vice-governor at the People’s Bank of China, said “We must watch out for bubbles forming on certain assets, and be careful in those areas.”
  • Gold hit record highs at $1227.55 (U.S.) in Europe on Wednesday.

Chinese Manufacturing grew in November at the fastest pace in five years.

Bank earnings – All Solid.

  • Exceeded expectations – CIBC, BMO
  • Met expectations – Royal Bank, TD Bank, Canadian Western Bank, and National Bank.

Canadian employers added more than five times as many jobs as expected in November.

  • Employment rose by 79,100 in November.
  • The jobless rate fell to 8.5 percent from October’s 8.6 percent. (Click Here)

U.S unemployment rate dropped in a surprised move dropped to 10% from 10.2% in November. (Click Here)