Business and Economy
Five things to watch for in the Canadian business world in the coming week
(Photo: Konrad Karlsson/Flickr)
TORONTO – Five things to watch this week in Canadian business:
Electrifying Event: Quebec’s premier and representatives from the automotive industry will speak at the 29th World Electric Vehicle Symposium in Montreal. The three-day event comes on the heels of an announcement by German automaker Volkswagen that it plans to ramp up offerings of electric vehicles as it fights to bounce back from a scandal over diesel cars rigged to cheat on emissions tests.
Retirement Planning: The Canada Pension Plan is expected to be a hot topic for the country’s federal, provincial and territorial finance ministers when they meet in Vancouver on Monday. Federal Finance Minister Bill Morneau has said he wants to see a deal to expand the CPP completed by the end of the year, but talks are now in high gear in hopes of reaching a preliminary agreement much sooner.
By The Numbers: Statistics Canada releases monthly data for April next week, including wholesale trade and travel between Canada and other countries on Monday, and retail trade on Wednesday. Bank of Canada governor Stephen Poloz said last week the country’s economy is finally making progress.
BlackBerry Blues: The Canadian smartphone company meets its shareholders in Waterloo, Ont., on Wednesday, and the next morning releases results for its fiscal first quarter. Analysts are expecting another loss.
Oil Comeback: Penn West Petroleum meet shareholders on Thursday in Calgary. Once on the brink of bankruptcy, the company’s stock soared last week after it agreed to sell its Viking assets to Teine Energy Ltd. for $975 million. The deal should help reduce Penn West’s heavy debt load by more than $600 million.
