- The Federal Election has been set for October 21st. The top 5 priorities for a competitive future as identified by the Edmonton and Calgary Chambers of Commerce are:
- Develop environment and climate policies that stimulate competition
- Expand market access and trade
- Create a globally competitive tax system
- Close the talent and skills gap
- Plan for our fiscal future
- Canada has 3 cities included in the top 10 annual ‘most livable’ rankings: Calgary, Vancouver and Toronto. Montreal is ranked at 20th of 140 cities.
- Q2 2019 Canadians used 8.1% of disposable income for non-mortgage debt and 6.8% for mortgage debt. For the 2nd consecutive quarter, as a % of disposable income, capital repayments (7.4%) lagged interest payments (7.5%).
- Average price for Alberta canola over for first 7 months of 2019 declined 10.6% Y/Y, wheat down 0.5%, cattle down 3.2%.
ENERGY AND THE ENVIRONMENT
- A 34 member group of governments and corporations said that they have 15 months to jump start reforms aimed at adapting to the changing environment.
- Their work indicates that a $1.8 trillion investment by 2030 in 5 categories (weather warning systems, infrastructure, dry-land farming, mangrove protection and water management) will yield $7.1 trillion in benefits.
- Climate Leadership Council (includes Janet Yellen, Exxon and other major oil, power and consumer products companies) are calling for a $40 tax per ton of carbon dioxide, increasing by 5% annually with proceeds rebated to American consumers.
- US briefly became the world’s No. 1 oil exporter in June, according to the IEA.
- August core CPI (excluding food and energy) rose to the highest rate in 11 years, up 2.4% Y/Y.
- President Trump said that he will consider an interim China deal but prefers a ‘whole deal’.
- China has exempted US pork and soybeans from higher tariffs
- US prosecutors have charged a Chinese professor with fraud for allegedly taking technology from a California company to benefit Huawei.
- Russia has quadrupled its gold reserves in the past decade; it is now valued at $109.5 billion.
- China removed limits for overseas investment in stocks and bonds.
- South Korea is filing a complaint with the World Trade Organization against Japan’s tighter controls of materials used to make smartphone chips and displays.