Wishing you a very happy Holiday Season! 10 Second Headlines will return on January 4, 2019
- Alberta’s 2018 potato production is now in excess 2.23 billion pounds, virtually the same as PEI.
- Alberta’s potato production grew by 132% over the past 20 years while PEI’s is down 18%
- Canada has the world’s 5th largest Artificial Intelligence work force behind US, India, Germany and Switzerland.
- Women make up 24% of Canada’s and 22% of the world’s AI work force
- 1/3rd of Canadian exporters say they have been negatively impacted by steel and aluminum tariffs; of these 19% have raised prices and 18% have found alternate markets and suppliers.
- Canada’s October GDP expanded at 0.3% M/M vs 0.2% expected.
- Canada’s November CPI declined to 1.7% Y/Y vs 1.8% expected (October was 2.4% Y/Y)
- Federal government has announced the proposed rules for edible cannabis, from candy to dried meats. A 60 day comment period now starts.
- Federal Reserve increased rates by 25 bps as expected. The 2019 US forecast: GDP 2.3% (vs 2.5% previous forecast), full employment and low inflation.
- Democrats will start Presidential Primary Debates in June 2019.
- Russia says: “chaotic US decision-making is complicating world affairs”.
- New York Governor Andrew Cuomo said that legalizing recreational marijuana will be one of his top legislative priorities for 2019.
- China, the world’s top importer, will start 2019 buying little or no crude oil from the US. This will not help China close the widening trade gap with the US.
- To overcome US sanctions, India will pay 5 Iranian banks for oil purchases. In turn Iran will use part of these deposits to purchase essential goods from India
- US Shale output is expected to offset any OPEC oil cuts. US is expected to increase daily production by 10% to an average of 11.8 million boe/d in 2019,
- Exxon Mobil cancelled plans for the $25 billion LNG terminal in Prince Rupert, BC.
- At least 15 LNG proposals in BC have been cancelled or stalled over the past 2 years.
- Facebook is developing a cryptocurrency that will let users transfer money in WhatsApp.
- China is increasing monetary and fiscal stimulus in 2019, including cuts to taxes and fees.
- Flights out of Gatwick Airport were cancelled after the airport was raided by miniature drones.
- Amazon mistakenly allowed an Alexa customer to listen to 1,700 audio files from a stranger together with his own audio files.
- LG plans to sell TV’s in 2019 that roll-up like posters and retract automatically at the push of a button.
- Saudi Arabia is cutting 2019 military spending by 12%, the 2nd straight annual reduction.