- Canada’s January GDP rose 0.3% vs 0.1% expected, the first increase in 3 months and the broadest expansion since May 2018.
- Average Canadian family will pay about $400 more for groceries (total for a family of 4 will be about $12,157) and roughly $150 more for dining out in 2019.
- Fruit and vegetables will increase 4 – 6%
- Meat and seafood are expected to decline 1-3%
- A First Nations group is putting together a bid to buy 51% of TransMountain Pipeline for $6.8 billion. All First Nations in Saskatchewan, Alberta and BC are being invited to participate.
- CRA says that a TFSA holder will be held responsible for any tax owing on income earned in a TFSA if the holder has been carrying on a business of day trading in the account.
- As of December 31, 2018, CRA has assessed approximately $114 million in taxes resulting from audits of TFSAs between 2009 and 2017
- Fiat Chrysler is reducing minivan output in Windsor, Ontario and cutting 1,500 jobs.
- WTI oil prices have increased 32.4% in Q1 2019, the largest quarterly price increase since 2009.
- American oil exports increased 70% in 2018 to just over 2 million boe/d and is expected to double again in the next few years. The US started exporting oil in late 2015.
- Over that past 4 weeks the US has exported 3 million boe/d
- IEA says global energy demand grew 2.3% in 2018 (double the average since 2010) and carbon emissions from energy grew 1.7%
- Global electricity demand rose 4% and was responsible for 50% of the growth in overall energy demand.
- Global natural gas use rose 4.6%, the most since 2010
- Demand for energy from renewable resources rose 4%
HOW 5G WILL TRANSFORM THE WAY WE LIVE AND WORK
- IHS Markit says 5G will drive an extra $12 trillion of annual sales in 2035 (about the size of China’s economy in 2018).
- Consumers will get faster mobile data, up to 100x quicker than 4G; movies downloaded in seconds.
- 125 billion devices expected to be linked to the ‘internet of things’ by 2030 vs 11 billion in 2018.
- Self-driving cars will not be possible without the speed and capacity of 5G
- One day you could order a house call from a self-driving mini-clinic for diagnostic tests and video-links with doctors.
- Computers will take over key parts of jobs.
- Populist and Authoritarian regimes now oversee 68% of G20 economic output.
- 50% of older Americans have nothing in retirement savings but 40% of those have a defined benefit plan. 29% had neither a pension nor any retirement savings.
- US Q4 GDP revised down to 2.2% M/M and 2.9% Y/Y.
- FAA needs $1.8 billion and 10,000 workers to handle aircraft approval on its own.
- EU is banning plastic plates, cutlery, and cups as of 2021.
- Facebook banned white nationalism and white separatism on its platforms.
- UPS began first regular commercial drone deliveries in the US, starting with medical supplies.
- Cloud computing now has $80.4 billion of total sales and infrastructure; Amazon has 32%.