Prep Business Report – CP

Source: The Canadian Press – Broadcast wire
Oct 6, 2015

Toronto’s stock market saw a triple-digit advance to begin the trading week amid continued optimism among traders that the U-S Federal Reserve won’t raise interest rates soon.

Toronto’s S-and-P / T-S-X index soared 212 points to close at 13,552.

In New York, the Dow Jones added 304 points to 16,776.

And the Nasdaq gained 73 points to 4,781.

In Tokyo this morning, the Nikkei index rose 180 points, to 18,186.

Hong Kong’s Hang Seng index slipped 22 points, to 21,831.

And our dollar is trading overseas this morning at 76.40 cents U-S — down one-100th of a cent from yesterday’s close of 76.41.

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(Markets)

Japan led Asian stocks higher today on hopes for new stimulus from its central bank.

Investors were also buoyed by the prospect that the U-S Federal Reserve will wait until next year to raise interest rates following Friday’s jobs report showed the American economy was creating fewer jobs.

Japan’s Nikkei index rose one per cent, while Hong Kong’s Hang Seng slipped by just 0.1 per cent.

Markets in mainland China are closed until Thursday.

An ambitious trade deal hammered out yesterday by Canada, the U-S, Japan and nine other Pacific Rim nations also provided a rosy background to the day’s trading in Asia.

However the Trans-Pacific Partnership won’t have much immediate market impact, given that it will likely take years for it to come into full effect. (Associated Press)

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(TPP-Next Moves)

Although a tentative Trans-Pacific Partnership trade deal has been reached, the work to secure it isn’t over.

The deal requires political approval — it must be ratified by the parliaments and lawmaking authorities of all 12 member countries.

Canada will be the first political testing-ground, since the agreement lands smack in the middle of a federal election campaign that could decide whether the proposed pact lives or dies.

The Harper government appears to have assured the long-term entrenchment of the supply-management sector, which is detested by free-market economists, but backed by every major political party.

Prime Minister Harper has promised new measures to attract auto investment and protect Canadian assembly operations.

C-T-V News reported Monday night that he’ll announce more than a billion dollars to help the industry during a visit Tuesday to Whitby, Ontario. (The Canadian Press)

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(TPP-Opportunity)

An economics expert is wondering just how many Canadian businesses will seek deals in Pacific Rim countries under the T-P-P, given that Canada’s largest trading partner is just a stone’s throw away.

Ian Lee of Ottawa’s Carleton University says it’s so easy for Canadian firms to just walk across the border.

He says up to three quarters of our foreign trade goes to the U-S, which shares similar business laws, language and culture.

But Jack Mintz, an economist from the University of Calgary, says Canadian firms are ready to take advantage of deals like the T-P-P. (The Canadian Press)

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(Lookahead)

StatsCan releases the Canadian international merchandise trade figures for August.

A town hall meeting will be held in Toronto to discuss Ontario Power Generation’s proposal to build an underground nuclear waste disposal facility in Kincardine, Ontario, a kilometre from the Lake Huron shore.

The Alberta royalty review panel holds a community input session in Edmonton.

Eighteen First Nations and environmental groups are in the Federal Court of Appeal in Vancouver, continuing with challenge of the federal government’s approval to the Enbridge Northern Gateway pipeline.

BC Securities Commission holds a Vancouver hearing into allegations that Rui (“Roy”) Figueiredo, the sole director of a rent-to-own real estate business, defrauded an investor of 81-thousand dollars. (The Canadian Press)

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(Gigabit Internet)

Get ready for gigbit Internet services — but it won’t be cheap.

Still, that hasn’t stopped Rogers, Bell and Telus from launching the high-priced and cutting-edge service that offers the ability to download at speeds of up to one gigabit per second.

Rogers yesterday became the latest carrier to offer preorders for its Ignite Gigabit packages, which will be available in certain areas of the country later this year.

It would cost around 150-dollars a month. (The Canadian Press)

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(Twitter-CEO)

Twitter has a new boss — and it’s an old boss.

Jack Dorsey is its C-E-O in the hopes that its once-spurned co-founder can hatch a plan to expand the short messaging service’s audience.

The hiring yesterday ends Twitter’s three-month search for a new leader and marks Dorsey’s second stint as C-E-O since he helped start the San Francisco company more than nine years ago with Evan Williams, Biz Stone and Noah Glass.

Twitter dumped Dorsey his first time around, but its board of directors is now convinced he has the maturity and expertise to fix the problems that have caused the company’s stock to lose nearly half its value in the past five months. (Associated Press)

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(Business Report by The Canadian Press)

(The Canadian Press)

INDEX: BUSINESS