TORONTO – Five things to watch for in the Canadian business world in the coming week:
Notley goes to bat for Trans Mountain
Alberta Premier Rachel Notley kicks off a cross-country speaking tour on the importance of the Trans Mountain pipeline expansion on Monday in Toronto. The National Energy Board recently refused a request for a speedier hearing on allegations that the City of Burnaby is deliberately obstructing construction of the pipeline expansion by refusing to issue necessary permits.
Moment of truth for Keystone XL
The Nebraska Public Service Commission votes on Monday whether to approve the permit to allow construction of the Keystone XL pipeline, the last regulatory hurdle for the controversial project. The original Keystone pipeline leaked an estimated 795,000 litres of oil in South Dakota late last week, giving critics of the XL pipeline fresh ammunition to push for a no vote.
The bread is how much?George Weston Inc. and Metro Inc. are reporting quarterly results on Tuesday and Wednesday, respectively. The conference calls will present the first opportunity for investors to get some answers regarding allegations of price fixing on bread products, which is the subject of a criminal investigation by the Competition Bureau.
Trade data to shed light on real GDPStatistics Canada releases September figures for wholesale and retail trade, employment insurance and quarterly financial statistics for enterprises for the third quarter. CIBC economists expect softness in wholesale numbers and a rebound in retail, and are predicting a 1.7 per cent real GDP pace for Q3.
Sino-Forest lurches on
The Ontario Securities Commission holds a sanctions and costs hearing for Sino-Forest on Monday in Toronto. In July, the regulator ruled that the company and several of its top executives defrauded investors and mislead investigators by overstating the now defunct timber company’s assets and revenue.