It is the VETERAN, not the preacher,
who has given us freedom of religion.
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NORTH AMERICAN EMPLOYMENT
- Canada added 13,200 jobs in October. Full time increased 16,000 and part-time declined 3,000. Canadian unemployment rate was unchanged at 6.9%.
- The largest provincial gain was Quebec at 34,000.
- Alberta’s unemployment rate rose to 4.4% vs 4.3% M/M.
- US added 204,000 new jobs in October, much better than the 125,000 expected.
- Private sector added 212,000 while governments cut 8,000. Sectors with the most gains were leisure and hospitality, professional and business services, and retail.
- The unemployment rate rose to 7.3% vs 7.2% MOM.
WESTERN CANADIAN ENERGY
- Alberta and BC announced a framework agreement where BC will not share Alberta’s royalty revenues; they will negotiate directly with the oil and gas industry. Both provinces will support BC’s conditions including world-leading oil-spill response, clean-up systems and aboriginal consultations.
- Canada’s oil industry greenhouse gas emissions were up 21% from 2008 to 2012 as more oil was produced from the oil sands, according to the Canadian Association of Petroleum Producers.
- British-based BG Group and Malaysia’s Petronas are holding preliminary talks to build a shared natural gas pipeline in BC.
- Western Canadian Select discount was as high as $42 this week.
- European Central Bank cut interest rates by 25 bps to 0.5% in a surprise move.
S&P cut France’s sovereign credit rating by one notch to AA from AA+.
- Ukraine signed a $10 billion shale-gas production sharing agreement with Chevron, similar to the one signed with Shell in January.
- UK may hit foreign property owners with a new tax on capital gains.
- The Province of Alberta is reinvesting $50 million in Alberta’s post-secondary institutions.
- Ontario is considering new tax credit for corporations that invest in research and development, along with an added payroll tax that would punish companies that fail to spend on training, technology or equipment.
- Apple received as many as 5,542 information requests from US law enforcement agencies in the first half of 2013.
- US home ownership is not at the lowest rate in 13 years. Q3 2013 31.6% of millenials (born between 1977 and 1992) were living with their parents rather than moving on their own.
- China’s Premier Li Keqiang said China needs 7.2% growth to keep unemployment stable.