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| Carney's choice: Keep them guessing
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JEREMY TOROBIN AND BARRIE McKENNA
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Thursday, September 09, 2010
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Mark Carney is keeping all of his options open as he weighs a firmer Canadian recovery against the extreme uncertainty in the global economy.The Bank of Canada Governor, still the only Group of Seven central banker to raise interest rates this year, is optimistic about the domestic outlook and seemingly unfazed by slower-than-expected growth in the second quarter. But weighing on his mind is the sputtering rebound in the United States.
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| NORTHERN RICHES
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BARRIE McKENNA
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Monday, August 23, 2010
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Imagine you're scanning a map of Canada. Where would you find the country's biggest income earners?Maybe Toronto (think bankers and brokers), Vancouver (lumber barons and Asian investors), Waterloo, Ont. (Jim Balsillie and Co.) or even Ottawa (land of the six-figure bureaucrats)? Wrong.
FULL STORY
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| GM IPO sets stage to cut government ties
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BARRIE McKENNA AND DAVID MILSTEAD
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Thursday, August 19, 2010
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General Motors Co. has started out on the long road back to independence, filing registration papers that clear the way for the U.S., Canadian and Ontario governments to unload their majority stake in the auto maker.
FULL STORY
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| Double vision
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Barrie McKenna
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Monday, August 16, 2010
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Think of two solitudes - and, no, we're not talking about French and English Canada.At this uncertain point in the global recovery, economists are now divided into two camps about Canada's prospects. In one scenario, Canada is an economic oasis in a global desert of gloom. Here, the recession is a fading memory; jobs are relatively plentiful, consumers are spending and business is humming.
FULL STORY
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| Flaherty expects GM to list on TSX
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BARRIE MCKENNA
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Saturday, August 14, 2010
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General Motors Co. is poised for another comeback - this time, on the Toronto Stock Exchange.Federal Finance Minister Jim Flaherty said Friday he expects GM to list its shares in Canada when the rebounding auto maker moves to escape Canadian and U.S. government control with a stock sale expected to be worth as much as $16-billion (U.S.).
FULL STORY
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| GM selects new chief in gearing up for IPO
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BARRIE McKENNA
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Friday, August 13, 2010
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General Motors Co. is getting its fourth chief executive officer in 18 months as the suddenly profitable auto maker continues its dramatic return from near-extinction and prepares to sell itself back to investors in a stock deal worth as much as $16-billion (U.S.).
FULL STORY
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| Research bureau slow to declare slump over
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BARRIE McKENNA
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Thursday, August 12, 2010
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Newsflash: the recession isn't over.More than 2 1/2 years after the worst recession since the Great Depression began, the official arbiter of U.S. business cycles still isn't prepared to declare the slump over.
FULL STORY
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| Canada expected to follow U.S. as economy slows
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BARRIE McKENNA
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Monday, July 19, 2010
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The mighty U.S. economy is slowing again, and with it Canada's chances of escaping the global downdraft.A sudden plunge Friday in a closely watched index of consumer confidence is the latest clue the recovery has stalled in the U.S., Canada's neighbour and largest trading partner.
FULL STORY
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| Foreign investors feel the love for Canada
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BARRIE McKENNA
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Thursday, July 15, 2010
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It turns out that foreign investors' love affair with Canada is more than a fling. It's evolving into a long-term, committed relationship.A move into Canadian stocks and bonds that began last year is part of a permanent shift in the way foreigners see the country, Warren Lovely, government strategist at CIBC World Markets Inc. in Toronto, concluded in a report released Wednesday.
FULL STORY
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| Trade jump highlights economic growth
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BARRIE McKENNA
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Wednesday, July 14, 2010
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Canada's trade economy is continuing to flourish in spite of the strong dollar and shaky U.S. recovery.Exports and imports rose sharply in May, a sign that the Canadian economy is continuing to bounce back strongly from the recession.
FULL STORY
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| Japan's reforms suffer setback
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ANDY HOFFMAN AND BARRIE McKENNA
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Tuesday, July 13, 2010
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The severe trouncing of Japan's ruling party in weekend elections is raising fears that political gridlock could derail economic reforms needed to curb the country's crushing debt-load and persistent deflation.
FULL STORY
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| The Fed's rebel
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BARRIE McKENNA
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Monday, July 12, 2010
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In Thomas Hoenig's view of the world, rock-bottom interest rates are like binge drinking. You can't avoid the hangover.Alas, his sobering view isn't shared by his nine colleagues on the U.S. Federal Reserve's powerful monetary policy committee. They all worry that the economy is still far too fragile; that even a hint of rate hikes now would kill the housing recovery and destabilize financial markets.
FULL STORY
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| Bear essentials
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SIMON AVERY AND BARRIE McKENNA
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Monday, July 12, 2010
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''The essence of the this-time-is-different syndrome is simple. It is rooted in the firmly held belief that financial crises are things that happen to other people in other countries at other times. The old rules of evaluation no longer apply. We are doing things better. We are smarter. We have learned from past mistakes.''
FULL STORY
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| Fed strikes worried tone on housing, Europe
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BARRIE McKENNA AND JEREMY TOROBIN
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Thursday, June 24, 2010
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Disinflation, high unemployment, tumbling housing sales and European debt woes.Grappling with stubborn headwinds facing the economic recovery, Ben Bernanke and his U.S. Federal Reserve colleagues voted again to keep priming the pump with record-low interest rates, holding the central bank's key rate at zero to 0.25 per cent.
FULL STORY
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| When the numbers mask good news
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BARRIE McKENNA
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Tuesday, June 22, 2010
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bmckenna@globeandmail.comSeasonally adjusted numbers are an economic staple. They help analysts to distinguish between changes that occur every year, and ones that have broader significance.Retail sales and employment spike every Christmas. Employment and housing starts go up in the warm months and down in winter. People travel more in the summer.
FULL STORY
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| 'ON THE VERGE OF SYSTEM FAILURE'
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BARRIE McKENNA
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Saturday, June 19, 2010
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bmckenna@globeandmail.comArnella Sims has seen a lot in her 34 years as a Los Angeles County court reporter, but nothing like this.Case files piling up by the thousands, phones ringing off the hook, forced midweek courthouse closings and occasional brawls as frustrated citizens queue for hours to pay parking fines.
FULL STORY
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| G20 leaders singing different regulatory tunes
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BARRIE McKENNA
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Friday, May 28, 2010
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At the Group of 20's inaugural meeting in Pittsburgh last September, all the talk was about harmonization and the co-ordinated action needed to prevent another financial crisis.But as G20 leaders prepare to meet in Toronto next month, countries are taking different, and sometimes conflicting, paths to regulatory reform.
FULL STORY
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| 'Fear and loathing' in North America
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BARRIE McKENNA
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Wednesday, May 26, 2010
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Europe's ever-mounting strife is sparking new fears that the region's fiscal troubles will wash up on North America's shores and swamp the economic recovery.Persistent worries that Greece, Spain and other European countries may default on their debts has sent investors scurrying to safety, pushing the U.S. dollar up, U.S. Treasury bill yields down and stocks to their lowest levels in months.
FULL STORY
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| Vaunted U.S. aim of ending too-big-to-fail could miss target
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BARRIE McKENNA
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Tuesday, May 25, 2010
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bmckenna@globeandmail.comAt the heart of the pending overhaul of U.S. financial regulation is the notion that some banks are simply too vital to let fail. You can't let major banks go bust because their problems would cascade through the rest of the financial system. The legislation's backers like to say it ends too-big-to-fail.
FULL STORY
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| HOUSING
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BARRIE McKENNA
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Tuesday, May 25, 2010
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A spate of housing reports this week offers clues to whether the U.S. housing recovery is for real.Existing home sales shot up 7.6 per cent in April to an annual rate of 5.8 million - the fastest pace since November of last year, the U.S. National Association of Realtors reported Monday.
FULL STORY
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| SEC goes on the hunt for 'flash crash' market culprit
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BARRIE McKENNA
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Friday, May 21, 2010
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The U.S. Securities and Exchange Commission wants to know if anyone broke the law during the $1-trillion (U.S.) May 6 ''flash crash.''SEC chairman Mary Schapiro vowed Thursday to ''take appropriate action'' if the agency's enforcement division uncovers violations of securities laws.
FULL STORY
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