A new report calls for merging energy distribution companies
December 14th, 2012 | Comments (0)
A new report is recommending Ontario’s 80 local electricity distribution companies be consolidated. The expert panel says distribution could be more efficient with eight to 12 regional agencies. Panel Chair Murray Elston says the changes would also save 1.2 billion over 10 years and for regional utilities to upgrade their systems.
New rules for EI come into effect January 6, 2013
December 14th, 2012 | Comments (0)
Changes to the Employment Insurance System will be happening in the New Year. The Harper Government says as of January 6th, Canadians receiving EI will face tougher rules to keep their benefits. The government is hoping the new system will get jobless Canadians back into the workforce in a quicker fashion. Critics say seasonal workers will be hurt by the new rules.
Holiday shoppers are buying for themselves
December 14th, 2012 | Comments (0)
An interesting survey coming from CIBC, that shows many Canadians have bought things for themselves while out Christmas shopping for others. The Harris-Decima survey shows to date, the average Canadian has spent over $130 on un-budgeted purchases for themselves, with men spending more than woman. The survey also shows that the total amount spent so far on holiday shopping is $398 across the country with Atlantic Canada spending the most. CIBC analysts warn, spending money on yourself this time of year, can really add up, and throw your holiday budget off by a lot.
Auditor General says provincial taxes may not have to be paid back
December 12th, 2012 | Comments (1)
It appears some businesses that haven’t paid their provincial taxes won’t have to. The auditor general says the government plans to write off nearly1.5 billion dollars in unpaid taxes. Auditor General Jim McCarter says in his annual report that the province failed to act promptly and lacked the manpower to collect the money. The report found the province is owed about 2.4 billion dollars in taxes, mostly from businesses. But it says the province isn’t doing enough to collect the money.
Pickering now wants in on casino revenues
December 12th, 2012 | Comments (0)
The casino debate between Pickering, Ajax and Whitby is heating up. The province has identified the municipalities as a zone for a new casino. After initially opting out of the running, Pickering Mayor Dave Ryan says the city has changed its tune, in light of the ongoing discussion over the sharing of casino revenues. He says if Pickering does become a host community, they’re on record as saying it’s right that revenues are shared amongst the municipalities and Region. However, with the legislature prorogued and the leadership of the Liberal party in limbo, Ryan says it’s unclear what the future of gambling will be in Ontario.
Hiring outlook positive for first quarter of 2013
December 11th, 2012 | Comments (0)
It could be a good start to the year for people looking for work in transportation and public utility fields. In the latest Manpower Employment Outlook Survey of nearly 1900 Canadian employers, 13 percent say they plan to add jobs in the first quarter of 2013. That’s a slight increase over the previous quarter but down slightly from this time last year. Seven percent are anticipating cutbacks while 78 percent expect to maintain current staffing levels.
Ford recalls about 19,000 2013 Fusion over headlight issue
December 7th, 2012 | Comments (0)
Ford is issuing a second recall in a week for the Fusion. The company will be sending out notices to the owners of about 19,000 2013 model years to fix defective headlights. Reflectors in the low-beam lights can become hazy over time and reduce the brightness. It’s the sixth recall of a new Ford vehicle in the past five months. Ford will replace the headlights for free. Last week the automaker recalled new Fusions and Escape SUVs with 1.6-litre engines because they can overheat, leak fluids and catch fire.
Low interest rates may hurt the economy in the long run
December 7th, 2012 | Comments (0)
The low interest rates have been great for buying home and borrowing money but there is concern they will have a negative effect on the world’s financial system and economy. The Bank of Canada says there are problems for pension funds and insurance firms and the additional risk investors must take on.
Unemployment numbers for November released
December 7th, 2012 | Comments (0)
Unemployment numbers for Canada have been released with surprising results. 59,000 jobs were added in November dropping the unemployment rate to 7.2 percent. Economists had expected only 10,000 jobs to be added. In the States the unemployment rate was 7.9 percent in October. Their November numbers will be released Friday as well.
Auto sales numbers show good things for two of the big three
December 6th, 2012 | Comments (0)
While the other Big Three automakers made gains last month, General Motors saw year-over-year sales drop. According to Desrosiers Automotive, GM suffered a 3.2 percent drop in November sales, while Chrysler was up 4.7 percent and Ford rocketed up 7.4 percent. While they remain the top three Canadian automakers, all have lost market share over the past year. Honda and Toyota have been making inroads, with their year-to-date sales up more than 20 percent each.
Go Transit to raise fares Feb 1st
December 5th, 2012 | Comments (0)
Go Transit announced an across the board fare increase Wednesday that will see fares rise either 35,45,or 55 cents per ride on February 1st, 2013 depending on the distance of the trip. Fares between $4.50 and $5.80 will rise by 35 cents, fares between $5.81 and $7.35 by 45 cents, and for fares over $7.35, 55 cents will be added. Board members of Metrolinx, the company that operates Go Transit says the fare hike will go toward infrastructure and service improvements. The increase will be less for riders using GO Transits’ Presto Pass.
CP Rail announces job cuts
December 5th, 2012 | Comments (0)
Some 4500 jobs are being cut at CP Rail. The company is working on a major restructuring plan, as it tries to bring down operating costs. Officials say the reductions, which will happen by 2016, will come through job cuts, attrition and fewer contractors. Up to a third of the job losses are expected to come by the end of the year.