Nov. 22, 2019


  • Manulife Bank of Canada survey:
    • 2 in 5 indebted Canadians don’t expect to escape debt in their lifetimes.
    • 94% of respondents say the average household has too much debt
    • 67% of those in debt assume everyone else is as well
    • 45% say their spending is increasing faster than their income (vs 33% this spring)
      • 12% said their income is growing faster than spending
    • 55% reported considerable non-mortgage debt (vs 46% this spring)
    • 60% say they have credit cards carrying a balance (vs 48% this spring)
    • Q2 Total debt per consumer was $71,979 vs $57,500 Q2 2014
  • Sun Life Barometer survey:
    • 47% of working Canadians believe they are at risk of outliving their retirement savings
    • 23% of retired Canadians describe their lifestyle as frugal while 72% say their retirement is not what they were expecting
    • 75% do not have a financial plan
    • 44% expect to be employed full time at age 66
  • Canadian household savings rate (amount of disposable income left after spending) is 1.7% ($852 vs $3,500 in 2013), the lowest in 60 years.
  • Total Canadian mortgage debt is $1.5 trillion vs $994 billion in 2010.


  • 70% of breaches are not detected by the company themselves but by 3rd parties that experience the breach.
  • 90% of breaches are due to failure of a “people process”.
  • 70% of connected devices are not secure.
  • 1 in 4 companies have experienced a data breach (global average 28%)
  • Most exposed sectors are health care, financial services, manufacturing, technology, retail
  • Data most targeted by cyber criminals is IP followed by customer data
  • Average global cost is $148/record, $3.9 million/organization


  • CN Rail strike entered its 4th day on Friday with “no substantive progress”
    • 3200 unionized employees are on strike with demands focusing on working conditions, including fatigue and rest breaks
    • Quebec Premier Francois Legault is warning that the province is in danger of running out of propane within 5 days, putting heating supplies for health-care institutions, seniors’ homes and farmers at risk. Usage has already been rationed.
    • Premier’s across Canada are asking the federal government to end the strike
  • International Maritime Organization (IMO) 0.5% sulfur emissions cap will be enforced worldwide starting January 1, 2020
    • This will be one of the most dramatic fuel regulation changes ever implemented; over 90% of global trade happens on our oceans
    • The 15 largest ships in the world produce more sulfur emissions than all of the world’s cars combined.
    • Global fleet of commercial ships exceeds 39,000
    • Rising fuel costs means rising freight rates, with the majority of costs passed on to consumers
    • In a full compliance scenario, the total impact to consumer wallets in 2020 could be around US$240 billion
  • US imports from Vietnam have increased 34.9% while imports from China have declined 13.4% (Q1-Q3 2019 vs Q1-Q3 2018).
  • G20 economies have added 28 new trade barriers between May and October 2019 covering trade worth approximately $460.4 billion.