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Found 12 results

  1. Building permits fall for third month Canwest News ServiceFebruary 5, 2009 9:01 AM OTTAWA—The value of Canadian building permits fell in December for a third straight month as a slowdown in the economy continued to temper construction activity in both residential and non-residential sectors. Statistic Canada said Thursday that municipalities issued $4.6 billion worth of permits during the month, a decline of 3.9 per cent from November. Residential permits were down 3.2 per cent to $2.6 billion in December, marking the ninth monthly drop in 2008. “Increases in multi-family permits in Ontario were not enough to offset the declines in single-family permits in Ontario, Alberta and British Columbia,”the federal agency said. The value non-residential permits fell 4.9 per cent to $2 billion, the third straight monthly decline. This drop was mainly in institutional permits in Alberta and commercial permits in British Columbia, the agency said. Construction permits declined in five provinces and all three territories in December, it said.
  2. CGI profit rises 10.5 per cent The Canadian Press January 27, 2009 at 11:27 AM EST MONTREAL — CGI Group Inc. has reported a 10.5 per cent profit increase in its latest quarter to $79.5-million as revenue rose 11.7 per cent from a year earlier to just over $1-billion. The 25,000-employee international information technology service provider said Tuesday that foreign exchange shifts boosted the top line by 7.4 per cent in its first quarter ended Dec. 31. Pre-tax earnings were up six per cent to $105.2-million. CGI recorded bookings of $775-million in the quarter, down from $1.13-billion a year earlier, while its operating profit margin slipped to 11.4 per cent from 11.8 per cent. The quarter's net income of $79.5-million, 26 cents per share, compared with $71.9-million or 22 cents per share a year earlier, when revenue was $895.4-million. The latest quarter's earnings adjusted for one-time items came in at 22 cents per share, in line with market expectations. The company said it plans to continue a stock buyback which in the past year cancelled 18.5 million shares at an average price of $10.68. CGI ended the quarter with $216-million in cash and $1.3-billion available in a credit line, which CEO Michael Roach said provides “the financial flexibility to execute our profitable growth strategy.” Desjardins Securities analyst Eric Bernofsky commented that investors will likely be concerned about the 31.7 per cent drop in bookings, but noted that year-ago business signings were unusually strong and there is quarter-to-quarter “lumpiness” in new contracts. On the bright side, Mr. Bernofsky wrote in a note, revenue from American clients grew 14.1 per cent on a constant-currency basis, which “should be viewed very positively in light of the current economic climate. As we had anticipated, higher work volumes from the government and health-care verticals contributed to the strong revenue growth.”
  3. http://montreal.ctv.ca/servlet/an/local/CTVNews/20090815/hockey_popularity_090815/20090815/?hub=MontrealHome
  4. http://www.montrealgazette.com/news/Crime+rate+continues+drop/3028197/story.html
  5. http://www.journaldemontreal.com/2015/05/14/concours-pour-rencontrer-u2-a-montreal--les-quebecois-non-admis Concours pour rencontrer U2 à Montréal: les Québécois non admis Bono vante les mérites du Québec – et surtout des fans québécois de U2 – dans une vidéo visant à présenter le concours. Visiblement, le chanteur de U2 ignorait que ceux-ci seraient inadmissibles au concours au moment de tourner le segment, puisqu’il parle directement aux fans montréalais du groupe. PHOTO D’ARCHIVES Bono vante les mérites du Québec – et surtout des fans québécois de U2 – dans une vidéo visant à présenter le concours. Visiblement, le chanteur de U2 ignorait que ceux-ci seraient inadmissibles au concours au moment de tourner le segment, puisqu’il parle directement aux fans montréalais du groupe. Marc-André Lemieux MARC-ANDRÉ LEMIEUX Jeudi, 14 mai 2015 16:33 MISE à JOUR Jeudi, 14 mai 2015 16:33 Que diriez-vous de rencontrer les membres de U2 après leur concert au Centre Bell le mois prochain? Ça tombe bien, Guy Laliberté organise justement un concours donnant la chance aux fans du groupe de remporter un tel prix. Le seul hic: les Québécois ne peuvent pas y participer. Le fondateur du Cirque du Soleil s’est associé à Prizeo, un site web hébergeant des concours de nature philanthropique, pour offrir la chance aux fidèles admirateurs de Bono et compagnie de gagner une journée avec leurs idoles, des billets VIP pour leur concert et une tournée des coulisses après coup. En prime, les heureux élus visiteront les quartiers généraux du Cirque du Soleil. Pour courir la chance de rafler cet énorme prix, rien de plus simple: faire un don de 5 $ (ou plus) à One Drop, la fondation de Guy Laliberté ayant pour mission d’assurer aux populations les plus démunies un meilleur accès à l’eau potable. Or, les Québécois sont exclus du concours en raison des lois en vigueur dans la Belle Province, nous confirme Pascal Chandonnet, directeur exécutif, marketing et communications chez One Drop. Il refuse toutefois d’entrer dans les détails concernant les points en litige. Des lois strictes Chose certaine, les règlements entourant la tenue de concours au Québec sont reconnus pour être stricts, note Jacques St-Amant, chargé de cours au département des sciences juridiques de l’UQAM. Les concours ayant lieu dans la Belle Province doivent respecter la Loi sur les loteries, les courses, les concours publicitaires et les appareils d’amusement, qui oblige entre autres les organisateurs à faire des dépôts de garantie, enregistrer leurs publicités, etc. Ces exigences entraînent bien entendu des coûts supplémentaires qui peuvent décourager certains organisateurs. En vigueur depuis 1978, ces lois visent à protéger le consommateur, notamment contre la fraude, précise M. St-Amant. L’exemple de One Drop et U2 n’est pas un cas isolé, ajoute M. St-Amant. Plusieurs concours sont fermés aux Québécois en raison des lois et règlements applicables. «Les formalités ne sont pas très lourdes, mais pour la plupart des compagnies, des organismes ou des groupes qui organisent ces concours, elles sont tout simplement de trop», déclare Jacques St-Amant, mentionnant au passage que Guy Laliberté et sa fondation One Drop avaient sans doute les «ressources nécessaires» pour se plier aux exigences légales du Québec s’ils l’avaient vraiment voulu. Mince consolation pour les fans québécois de U2 peinés par cette situation: les Québécois ne sont pas les seuls à être jugés inadmissibles. Les gens vivant à Cuba, en Iran, en Corée du Nord, en Irak, en Arabie saoudite, en Syrie et dans quelques autres pays reconnus comme étant répressifs sont aussi écartés. Bono salue ses fans québécois Ironie: Bono explique le concept du concours dans une vidéo sur Prizeo. Visiblement, le chanteur de U2 ignorait que nous serions *inadmissibles au concours au moment de tourner le segment, puisque pendant deux minutes, il parle directement aux fans montréalais du groupe, garnissant son discours de mots en français comme «la Belle Province» et «bonne chance». Il vante même les mérites du Québec, berceau du «Cirque du Soleil, Leonard Cohen et Arcade Fire». ♦ U2 donnera pas moins de quatre concerts au Centre Bell le mois prochain. Les spectacles des 12 et 13 juin affichent complet, mais quelques billets sont encore disponibles pour les 16 et 17 juin. sent via Tapatalk
  6. Almost 80,000 jobs lost in February: StatsCan By The Canadian Press OTTAWA - Non-farm payrolls lost 79,600 jobs in February, with manufacturing taking the worst hit, Statistics Canada reported Wednesday. The agency said those losses continue a slump that began last October and which has cost 296,000 jobs. The agency's survey of non-farm, payroll employment found the biggest February drop was in manufacturing, where 19,300 jobs were lost. Since October, 99,700 manufacturing jobs have disappeared, a loss of 6.1 per cent. That figure is three times the rate of decline of total payroll employment. Nearly a quarter of the manufacturing job losses came in the auto industry. The survey said the number of employees working in motor vehicle parts manufacturing has fallen by 13,300 since October, while motor vehicle and motor vehicle body manufacturing has dropped by 10,200. As of February, there were 111,500 employees in motor vehicle assembly and parts, down 65,000 or 37 per cent from the peak recorded in 2001. The auto slump has echoes in related industries. Payrolls in auto repair shops are down by 5,000 since October. Auto dealers have cut 4,200 jobs in the period, while parts dealers have 2,300 fewer workers. The construction sector lost 11,100 jobs in February. There were more modest declines other sectors, including non-Internet publishing (4,800), credit intermediaries and related activities (4,300) and truck transportation (4,200). But there were some job gains in health and education, including elementary and secondary schools, and community colleges and CEGEPs in Quebec. The February losses came in all provinces, but Quebec, Ontario, Alberta and British Columbia took the worst hits. Quebec lost 30,300 jobs in February, a 0.9 per cent drop. Ontario and Alberta each experienced a decline of 0.6 per cent, while British Columbia employment fell by 0.4 per cent. While Quebec experienced the largest monthly decline, both Ontario and British Columbia had the biggest drop between February 2008 and February 2009. Over the year, Ontario payrolls declined by 1.7 per cent or 97,800 jobs. The losses were mostly in manufacturing, with a 12.1 per cent drop of 94,000. In British Columbia, payroll employment was down 28,400 or 1.5 per cent in February compared with a year earlier. Much of this decline was linked to forestry and its related industries. Major communities in southwestern Ontario have all shown sharp losses and in March, Windsor had the highest unemployment rate of any large community in the country - 13.7 per cent. Average weekly earnings, including overtime, of payroll employees in February was $820.95, up 1.8 per from February 2008. This was slower than January's year-over-year increase of 2.4 per cent. From Yahoo news: http://ca.news.yahoo.com/s/capress/0...ness/jobs_lost
  7. Building booms across country HEATHER SCOFFIELD Globe and Mail Update June 5, 2008 at 9:10 AM EDT OTTAWA — Building permits in Canada soared in April, rising 14.5 per cent from March because of widespread residential and non-residential activity in all provinces, Statistics Canada said Thursday. The jump means contractors took out $6.4-billion worth of permits, the highest level since last October. “Canadian builder permits were on a tear in April,” Stewart Hall, market strategist for HSBC Canada, said in a note to clients. The gain surpassed economists' expectations by a long shot. They had been expecting a 0.5 per cent increase, after a drop of 4.5 per cent March. House under construction The Globe and Mail Building permits are a notoriously volatile economic indicator, and economists warned not to get too excited about the big monthly leap. The general trend for building permits in both the residential and non-residential sectors has been down since last summer, Statscan noted. Residential permits rose 13.4 per cent from a month earlier, mainly because of growth in multi-family units such as condominiums. Over the past five years, demand has gradually shifted away from more expensive single-family homes to more affordable multi-family buildings, Statscan said. In April, permits for multi-family units rose 19.1 per cent, while single family homes declined 0.6 per cent. “This report does suggest that some improvement in building activity may lie ahead for the Canadian housing sector,” said Millan Mulraine, economics strategist with TD Securities. “However, the fact that all of this increase came from the volatile multi-units component does suggest ... some give-back in the coming month.” In the non-residential sector, the value of permits rose 16.5 per cent from a month earlier, because of strong commercial intentions. Indeed, commercial permits rose 20.2 per cent, as interest in building hotels and retail outlets surged. Industrial permits rose 6.7 per cent, after a large drop in March, as Alberta manufacturing and primary industries regained some interest. Institutional building permits rose 13 per cent in the month, driven by projects for new medical buildings. “The non-residential sector continued to be positively affected by low office vacancy rates and a vigorous retail sector, despite a drop in corporate profits,” Statscan said. Regionally, all provinces saw gains in April, especially in Ontario, British Columbia, Alberta and Quebec, which all posted double-digit increases. Ontario saw the largest increase in dollar terms, with a $2.4-billion leap in the value of permits issued, or a jump of 12.5 per cent. Multi-family homes were the driving force. By city, the largest increase in dollars was in Toronto, again because of multi-family units. “While these gains suggest we will some new housing activity going forward, some of this growth is on the back of declines experienced at the beginning of the year,” said economists at Bank of Nova Scotia. “Thus, despite the fact that permits surged in April, the overall trend remains to the downside.” http://www.reportonbusiness.com/servlet/story/RTGAM.20080605.wbuildingpermits0506/BNStory/Business/home
  8. The housing boom may be over, but there's no bust in sight Jay Bryan, Canwest News Service Published: Tuesday, August 12, 2008 With housing demand weaker, price gains have already slowed sharply.Reuters fileWith housing demand weaker, price gains have already slowed sharply. Ever since last year, forecasters have been predicting that Canada's hot housing market was about to slow to a much more sedate pace. Well, it's happened. Except that sedate is hardly the word for the 14% plunge in construction activity that turned up Monday in the housing starts data for July. To many, this sharp drop will be downright alarming, raising fears that the catastrophic housing meltdown in the U.S. has now spread across the border. They can relax. Or at least most of them can. Maybe a little nervousness is appropriate for those who bought near the market's peak in one of Canada's very high-flying centres of real-estate inflation -- places like Calgary, Edmonton, Vancouver and Victoria. In these towns, warns BMO Capital Markets economist Sal Guatieri, soaring home prices so greatly outstripped income growth that it wouldn't be surprising if real-estate values had to drop significantly in order to restore affordability to the market. But in most of Canada, what we're seeing looks like a normal return to earth after a six-year-long real-estate boom. The frenetic construction and double-digit price gains of yesteryear couldn't last forever, so now we've entered the cooling-off phase. Economic forecasters think the outlook for most cities is for prices to stagnate, or maybe edge down a little, while the level of construction eases, but doesn't collapse. If this doesn't seem to fit with the outlook foreshadowed by July's big drop in construction activity, that's simply because you're reading the numbers too literally. No one month's statistics mean very much, especially if you take them at face value. When you look at a chart of housing starts over a period of many months, it looks like a mountain range, with soaring peaks and deep valleys. Most of this volatility is caused by builders of condominiums and other multiple-unit developments, where a few projects more or less can make the numbers skyrocket or plummet. That's why analysts take the single-family starts more seriously. They're a lot less volatile and, thus, a better indicator of where the market is really heading. In July, single-family housing starts fell by just 7%. As well, nearly all of July's decline was in Ontario -- "think Toronto condos," says BMO Capital Markets analyst Robert Kavcic. And exceptionally wet weather in Eastern Canada likely slowed construction, notes Millan Mulraine of TD Securities. Outside of Toronto, most big cities saw only modest changes in total activity. So what can we expect for the coming months? Continued slowing, most likely, but certainly no savage nationwide meltdown on the model of the U.S. Royal Bank economist Paul Ferley notes that in 2007, Canadian housing construction remained little changed from the banner year of 2006, even as U.S. activity plummeted 26%. He thinks Canada's housing starts will drop by only about 5% this year, compared with a 30% plunge south of the border. Mr. Ferley thinks that 2009 will finally bring a significant drop in Canadian activity, but nothing like the U.S. collapse, with starts down by about 15%. The brake on construction is the slowdown in sales that started months ago, with sales figures in each month this year down from the comparable period in 2007, Mr. Guatieri noted. It's quite likely that this will continue into next year, since the U.S. economic slowdown and the recent sharp decline in commodity prices are both beginning to bite in Canada, bringing declines in job creation. With housing demand weaker, price gains have already slowed sharply. With a 5.4% average gain over the past year, Montreal is doing a little better than the national average of 3.5%. Toronto is near average at 3.8%. The hardest-hit include mainly big Western cities, with Vancouver up 1.8%, Edmonton 1.6%, Calgary a mere 0.1% and Victoria down by 0.4%. But even if the boom is over, there's no national bust in sight. Without the severe financial excesses and fraud that devastated the U.S. mortgage market, undermined that country's banking system and brought soaring numbers of home foreclosures, Canada simply doesn't have the conditions to trigger a housing collapse.
  9. U.S. Economy: Retail Sales Drop in October by Most on Record By Shobhana Chandra and Bob Willis Nov. 14 (Bloomberg) -- Retail sales and prices of goods imported to the U.S. dropped by the most on record, signaling the economy may be in its worst slump in decades. Purchases fell 2.8 percent in October, the fourth straight decline, the Commerce Department said today in Washington. Labor Department figures showed import prices dropped 4.7 percent, pointing to a rising danger of deflation, and a private report said consumer confidence this month remained near the lowest level since 1980. ``The weakness in growth is intensifying and inflation pressures have evaporated,'' said James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut, who accurately projected the decline in sales. ``Deflation is a word that will be increasingly used over the coming months.'' Spending may continue to falter as mounting job losses, plunging stocks and falling home values leave household finances in tatters. Retailers from Best Buy Co. to J.C. Penney Co. are cutting profit forecasts ahead of the year-end holiday shopping season, when many stores do most of their business. Federal Reserve Chairman Ben S. Bernanke said at a conference today in Frankfurt that continuing strains in financial markets and recent economic data ``confirm that challenges remain.'' The Fed chief said central bankers worldwide ``stand ready to take additional steps'' as warranted. Economists surveyed by Bloomberg News predict the Fed will lower its benchmark interest rate to a record 0.5 percent by March from the current 1 percent. Policy makers next gather in Washington Dec. 16. Stocks, Treasuries Stocks fell and Treasuries rose. The Standard & Poor's 500 Stock Index dropped 1.8 percent to 894.09 at 10:11 a.m. in New York. Yields on benchmark 10-year notes fell to 3.75 percent from 3.85 percent late yesterday. The Reuters/University of Michigan preliminary index of consumer sentiment was 57.9 in November compared with 57.6 last month. The measure averaged 85.6 in 2007. Retail sales were expected to fall 2.1 percent, according to the median forecast of 73 economists in a Bloomberg News survey. Purchases in September were revised down to show a 1.3 percent decrease compared with an originally reported 1.2 percent drop. ``The September-October credit jolt to the economy is showing up in all of the numbers now,'' Ellen Zentner, a senior U.S. macroeconomist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York, said in a Bloomberg Television interview. ``We're expecting the worst recession, possibly, post-World War II.'' Worse Than Estimates Retailers have now logged the longest string of monthly declines since the Commerce Department's comparable data series began in 1992. Excluding automobiles, purchases decreased 2.2 percent, almost twice as much as the 1.2 percent decline anticipated and also the worst performance on record. Declines were broad based as furniture, electronics, clothing and department stores all showed loses. Demand at automobile dealerships and parts stores plunged 5.5 percent after falling 4.8 percent in September. Car sales are among the most affected as banks make it harder to borrow. Treasury Secretary Henry Paulson this week said the government will shift the focus of the second half of the $700 billion rescue plan from buying mortgage assets to unclogging consumer credit. President-elect Barack Obama and Democrats in Congress are under pressure to push through another stimulus plan even before the new administration takes over. Filling-station sales decreased 13 percent, also the most ever, in part reflecting a $1-per-gallon drop in the average cost of gasoline. Excluding gas, retail sales fell 1.5 percent. Gain at Restaurants Sales at furniture, electronics, clothing, sporting goods and department stores were also among the losers. Restaurants, grocery stores and a miscellaneous category were the only areas that showed a gain. ``Since mid-September, rapid, seismic changes in consumer behavior have created the most difficult climate we've ever seen,'' Brad Anderson, chief executive officer of Best Buy, said in a Nov. 12 statement. The Richfield, Minnesota-based electronics chain said sales in the four months through February 2009 will decline more than it previously estimated. Rival Circuit City Stores Inc. filed for bankruptcy protection this week. Macy's Inc., Target Corp. and Gap Inc. were among the chains that reported same-store sales dropped in October, while shoppers searching for discounts on groceries gave sales a lift at Wal- Mart Stores Inc., the world's largest retailer. Nordstrom yesterday cut its profit forecast for the third time this year. Worst Season J.C. Penney, the third-largest U.S. department-store company, today forecast earnings that trailed analysts' estimates and posted its fifth straight quarterly profit decline as shoppers cut spending on home goods and jewelry. Shoppers are pulling back as the labor market slumps. The unemployment rate jumped to 6.5 percent in October, the highest level since 1994. Employers cut more than a half million workers from payrolls in the past two months. The longest expansion in consumer spending on record ended last quarter, causing the economy to shrink at a 0.3 percent annual pace. The economic slump will intensify this quarter and persist into the first three months of 2009, making it the longest downturn since 1974-75, economists forecast in a Bloomberg survey conducted from Nov. 3 to Nov. 11. Excluding autos, gasoline and building materials, the retail group the government uses to calculate gross domestic product figures for consumer spending, sales decreased 0.5. The government uses data from other sources to calculate the contribution from the three categories excluded. To contact the reporter on this story: Shobhana Chandra in Washington [email protected]
  10. I hope Avenue, Tour des Canadiens and Icone go up. And then the rest can wait Softening market raises doubts over condo projects By Allison Lampert, THE GAZETTE January 9, 2013 8:11 PM 0 Story Photos ( 1 ) Softening market raises doubts over condo projects A number of properties are up for sale in Brossard, on Wednesday, Jan. 9, 2013. Photograph by: Dave Sidaway , The Gazette MONTREAL - There are condo projects like the Tour des Canadiens which will undoubtedly be built, with the only lingering question surrounding their final height. But a decline in new home construction in Greater Montreal last year is increasingly raising doubts over the viability of the record number of condo buildings announced for the region: this summer, the city’s Ville Marie borough identified projects with 3,000 units destined for downtown alone. “You talk to the different developers and they are all confident that their project will go forward,” said Carlos Leitao, chief economist at Laurentian Bank. “But I don’t think that all the projects will come to fruition. I would be extremely surprised to see presales advancing for every project so some of them will have to drop off.” In 2012, a more balanced resale market led new home construction to decline nine per cent in the Greater Montreal Area and analysts are expecting a further 12-per-cent drop in housing starts for the region in 2013, the Canada Mortgage and Housing Corp. said Wednesday. In December, the decline in housing starts, compared with the same month in 2011, was fuelled by a 65-per-cent drop in new home construction on Montreal Island. So even as the sold-out Tour des Canadiens near the Bell Centre is looking to add floors, the steep drop in new Montreal Island housing starts reflects the growing array of choices for buyers in the resale market. While Greater Montreal Real Estate Board data are not yet available for December, November resales tanked 19 per cent. Meanwhile, figures reported Tuesday by Royal LePage Real Estate Services showed condo inventory has shot up 30 per cent at the end of 2012, compared with a year earlier. Housing starts The numbers suggest Montreal’s current low interest rate-fuelled real estate boom peaked in 2011, even though demand still far exceeds historic norms. Compared with record-breaking 2011, new condo construction dropped six per cent to 11,880 units in 2012 — still the second highest year in Greater Montreal for condo building. To put that number in context, Greater Montreal developers were only building around 2,000 to 3,000 units a year before the last condo boom of the early 2000s that peaked with 10,000 units in 2004, explained CMHC analyst David L’Heureux. For the province of Quebec, new home construction dropped three per cent last year to 40,526 units above 2011, CMHC data show. Quebec and Nova Scotia were the only two provinces in Canada to report a decline in total housing starts for 2012. Nationally, housing starts declined for the fourth consecutive month in December, but remained well above sustainable levels, leading to further fears the economically important sector could be headed for a hard landing. The pace of housing starts slowed by a modest 1.7 per cent last month to 197,976 on an annual basis, the fourth drop in as many months. In a note, BMO economist Robert Kavcic said “2012 was a strong year for homebuilding in Canada, but it was distinctly a tale of two halves — we judge that 2013 will look more like the second half (cooling) than the first.” Read more: http://www.montrealgazette.com/business/Softening+market+raises+doubts+over+condo+projects/7797746/story.html#ixzz2HXfyW4rB
  11. The observatory of the John Hancock Centre in Chicago features a vertigo-inducing attraction: a tilting viewing platform that leans viewers out over a 94-storey drop. Look at the BBC video http://www.bbc.com/culture/story/20151123-is-this-the-worlds-most-terrifying-view
  12. Big Conference in Town Thu, 2007-07-26 15:30. Shuyee Lee 3700 conventioneers are descending on Montreal starting tomorrow for a four day meeting. And they'll be bringing their expense accounts with them - good news for the local economy. Volunteers wearing bright red polo shirts around the city will be welcoming delegates of the MPI - Meeting Professionals International - people who plan conventions, seminars and business meetings. It's the biggest MPI convention ever held, with 3700 delegates from around the world, generating as much as 100-million dollars in short and mid-term economic spinoffs if all goes well. Charles Lapointe head of Tourism Montreal says word of mouth can spread. "Oh, I had a good meeting in Montreal, maybe I should bring my group to that city because my delegates will like it." Lapointe is not too worried about the soaring loonie affecting business, saying the overall drop in U.S. tourists is only about 5 per cent and that's across the country.