Business News Advisory – CP

Source: The Canadian Press
Oct 6, 2015

TUESDAY, OCT. 6, 2015

BUSINESS NEWS ADVISORY

Here are the CP Business Department’s early plans for today. All times Eastern unless otherwise stated. Entries are subject to change as news develops. If you have any questions, please don’t hesitate to email Business Editor Lee-Anne Goodman at lee-anne.goodman?thecanadianpress.com, or the department at business?thecanadianpress.com. We can also be reached at 416-507-2138.

COVERING

Craig Wong in Ottawa will have more on the StatCan release on Canada’s trade deficit with the world increasing significantly in August

David Friend in Toronto will have a story on a Starbucks announcement

NEWS NOW

Trade deficit grows to $2.5 billion in August

Statcan-Trade

OTTAWA _ Statistics Canada says the country’s trade deficit with the world increased to $2.5 billion in August from $817 million in July. Exports fell 3.6 per cent in August, while imports edged up 0.2 per cent.

See also: US-Trade-Gap

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First Quantum to sell assets, reduce debt

First-Quantum

TORONTO _ First Quantum Minerals (TSX:FM) is seeking to slash outstanding debt by at least US$1 billion within six months as it scales back spending to offset low copper prices. The Vancouver-based company has also cut 644 people from its workforce, reduced salaries by up to 20 per cent and lowered the cost target for its flagship Cobre Panama project by seven per cent, to US$5.95 billion.

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Hike in rates would stress borrowers

BMO-Debt-Survey

OTTAWA _ Nearly one in six Canadians would not be able to handle a $500 increase in their monthly mortgage payments, a new survey from the Bank of Montreal suggests. According to the bank, 16 per cent of respondents said they would not be able to afford such an increase, while more than a quarter, or roughly 27 per cent, would need to review their budget. Moves Business and National. Guard against duplication.

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Canadian dollar, market futures lower

Dollar-Markets

TORONTO _ The Canadian dollar was lower and U.S. index futures were negative ahead of Tuesday’s North American stock market open. The loonie was down 0.18 of a cent at 76.23 cents US. Will be updated.

CALENDAR

OTTAWA _ Statistics Canada releases the Canadian international merchandise trade figures for August. (8:30 a.m. at www.statcan.gc.ca)

TORONTO _ The Fraser Institute releases a new study comparing and contrasting the changes in public and private school enrolment, by province, between 2000-01 to 2012-13. (5:30 a.m. at www.marketwired.com)

TORONTO _ Town hall meeting to discuss Ontario Power Generation’s proposal to build an underground nuclear waste disposal facility in Kincardine, Ont., about one kilometre from the Lake Huron shore. Among the attendees are Toronto Councillor Mike Layton, David Suzuki Foundation’s Dr. Faisal Moola, Sarnia Mayor Mike Bradley and Michigan Senator Phil Pavlov. (7 p.m. at Toronto City Hall, Council Chambers, 100 Queen St. W.)

EDMONTON _ The Alberta royalty review panel holds a community input session. (5:30 p.m. at TBA)

WINNIPEG _ Manitoba Finance Minister Greg Dewar holds pre-budget consultations. (7 p.m. at Valley Garden Community Centre, 218 Antrim Rd.)

x-VANCOUVER _ Eighteen First Nation and environmental groups are in the Federal Court of Appeal to challenge of the federal government’s approval to the Enbridge Northern Gateway pipeline. (9:30 a.m. at Federal Court of Appeal )

VANCOUVER _ BC Securities Commission holds a hearing into allegations that Rui (“Roy”) Figueiredo, the sole director of a rent-to-own real estate business, defrauded an investor of $81,000. (9 a.m. at BC Securities Commission, 1200 – 701 W. Georgia Street)

THE CANADIAN PRESS

INDEX: ADVISORIES BUSINESS