Freeland touts need for grocery competition after Loblaw, Metro post higher profits

More competition is needed in Canada's grocery sector as consumers grapple with higher food prices, said Finance Minister Chrystia Freeland, after two of the country's largest grocers reported higher sales and profits in the most recent quarter.

Freeland said major changes need to be made to Canadian competition law in order to help stabilize food prices.

"We need to bring more competition into the Canadian economy, particularly in the grocery sector. We are prepared to use every tool in our toolbox, including tax policy, to make sure that prices stabilize."

Freeland said.

Loblaw reported a profit for the third quarter of $621 million, up from $556 million during the same quarter last year. Revenues for the quarter rose to $18.27 billion, up from $17.39 billion.

Meanwhile, Metro saw profit for its fourth quarter rise to $222.2 million, up from $168.7 million a year earlier, while sales were $5.07 billion, up from $4.43 billion last year.

#Freeland

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2 arrested after protesters surrounded Vancouver restaurant where Trudeau was dining

Vancouver police say an officer was injured after scuffles with protesters outside a restaurant in the city's Chinatown where the prime minister was dining on Tuesday night.

100 officers were deployed around 10 p.m. PT after protesters surrounded the restaurant. Police estimated 250 protesters were at the restaurant.

One officer was injured and taken to hospital for treatment after being punched in the face and having her eyes gouged. Police said they arrested a 27-year-old man from Coquitlam, B.C., in relation to the assault.

Officers also arrested a 34-year-old Vancouver man for obstructing police. He was later released from custody.

#Trudeau #BritishColumbia

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Poll suggests widespread dissatisfaction with Trudeau government

Almost two in three Canadians have a negative impression of Prime Minister Justin Trudeau and half want him to resign before the next election, a new survey suggests.

The Leger poll suggests widespread dissatisfaction with the Liberal government on everything from housing affordability and inflation to health care, government spending and climate change.

🔹Nationally, 30 per cent of respondents said they were satisfied with Trudeau's government, while 63 per cent said they were not.

🔹Half of Canadians surveyed said Trudeau should resign before the next election. One in four of those who identified as Liberal voters said he should quit. Only 28 per cent of all respondents said he should stay on.

🔹Almost three in four said it's time for a new prime minister because Trudeau's been in office too long, while two-thirds said they don't think he has a clear vision for the future.

#Trudeau

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💰Gold stolen from Toronto airport was not insured, Air Canada claims in denying responsibility

The cargo container stuffed with gold bars and millions in cash that was stolen from Toronto’s Pearson airport was not insured, according to Air Canada, as the airline denies responsibility for the shocking theft from its cargo facility.

The airline breaks its silence on the alarming theft — the cargo container of $20 million in gold and US$2 million in cash was taken shortly after it arrived on an Air Canada jet from Switzerland — in a statement of defence filed in court in response to a lawsuit by Brink’s, a secure transport company.

Air Canada denies allegations by Brink’s of lax security and negligence in allowing the cargo to be collected by an unknown and unauthorized person less than an hour after arriving at its warehouse on the periphery of the airport.

The airline alleges Brink’s shipped the cargo without declaring its value, without insurance, and without paying extra for additional security.

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Ethics commissioner investigating chair of federal green fund

The federal ethics commissioner has launched an investigation into the chair of the board of directors of a federal green fund after she participated in the approval of more than $200,000 in grants to a private firm she directed.

Ethics Commissioner said he will examine the conduct of Sustainable Development Technology Canada (SDTC) board chair Annette Verschuren.

Verschuren is also chair and chief executive officer of NRStor Inc., an energy storage firm. She confirmed to a parliamentary committee last week that as SDTC's chair, she participated in approving grants to NRStor totalling $217,000 in 2020 and 2021.

The grants were part of the federal green fund's efforts during the COVID-19 pandemic to send money to companies with existing funding arrangements with SDTC.

Verschuren has chaired the board of directors of Sustainable Development Technology Canada (SDTC) since 2019. She told committee that she receives an annual salary of $120,000 from NRStor in addition to her remuneration from SDTC.

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Drug investigation leads to largest cocaine and meth seizure in Toronto Police Service's history

Toronto police say an investigation into a drug trafficking network operating in the GTA has led to seven arrests and the “single largest seizure of crystal methamphetamine and powdered cocaine in the service’s history.”

Police said 551 kilograms of cocaine and 441 kilograms of crystal methamphetamine were seized as part of Project Finito, a 3.5-month investigation into a “major” drug importation and distribution network in the GTA.

During a news conference on Friday, Toronto police said the drugs had an estimated street value of $90 million.

#Ontario

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Carbon tax pause on home heating oil will cost federal government $755M: PBO

The federal government will forgo $755 million in carbon taxes from Atlantic Canadians over the course of its three-year pause on the heating oil tax, according to a new report from Ottawa’s spending watchdog.

That’s as it gives Ontario a $295-million reprieve, but hardly any break for the western provinces.

The Parliamentary Budget Officer has costed out the Trudeau government’s suspension of the carbon tax on home heating oil and doubling of the rural rebate.

While the temporary pause applies across the country, the new data show how the move clearly favours Atlantic Canada over elsewhere.

Nova Scotians are expected to benefit the most: roughly $372 million in carbon taxes now won’t be collected, while $185 million won’t be collected in Newfoundland and Labrador, $135 million in New Brunswick and $63 million in Prince Edward Island.

#energy

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Canadian-made fentanyl is an international problem, RCMP says

The head of the RCMP unit responsible for fighting organized crime says Canada is not just a significant producer of fentanyl — Canada exports it.

Mathieu Bertrand, chief superintendent of Serious and Organized Crime & Border Integrity at RCMP Federal Policing, said that while Canada has a problem with fentanyl imports, domestic production is what alarms police most at the moment.

Most of the 600-plus organized crime groups assessed by the RCMP's criminal intelligence branch are involved in the drug trade, Bertrand said.

Bertrand cited Australia and New Zealand as known destinations for Canada-made fentanyl. Some Asian countries supply key ingredients for Canadian-made fentanyl via shipments through South American countries or the United States, he said.

A law enforcement roundtable in 2021 noted a tenfold increase in precursor chemicals seized by the Canada Border Services Agency, and said that most of the chemicals come from China and Hong Kong.

The toxic drug crisis is killing an average of 21 people every day in Canada. Fentanyl is involved in the vast majority of those deaths.

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🇨🇦🇨🇴🇭🇹🇻🇪Canada launches new humanitarian migration pathway for Colombians, Haitians and Venezuelans

Amid the ongoing refugee crisis in the Americas, the federal government has announced the launch of a new humanitarian pathway for 11,000 Colombians, Haitians and Venezuelans to find residency in Canada.

Marc Miller, minister of immigration, refugees and citizenship, announced that this humanitarian pathway, which is now open for applications, will provide “permanent residence to Colombian, Haitian and Venezuelan foreign nationals.”

In order to qualify for the humanitarian pathway, the applicant must be affiliated with a Canadian citizen or permanent resident who agrees to support them and their family members for the first year of Canadian residency.

#immigration

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🇨🇦🇨🇳 Canada PM Trudeau says he hopes to meet China’s Xi one day once tensions defused

Canadian Prime Minister Justin Trudeau said he hoped to meet Chinese President Xi Jinping once the two sides had put in the work needed to repair badly strained bilateral ties.

Trudeau said he had “a good exchange” with Xi on the sidelines of the APEC summit and told the Chinese leader the two sides needed to try to create a constructive dialogue.

China and Canada have had poor relations for years amid disagreements over human rights and complaints by Ottawa about alleged Chinese interference in the last two elections.

#Canada #China

@asianomics

🪖Top general worries about maintaining Pacific fleet on current budget 'trajectory'

Canada's top soldier says the military's ability to keep funding a "persistent presence" of warships in the western Pacific is facing challenges on the current budget.

Gen. Wayne Eyre was speaking during the Halifax International Security Forum Saturday during a panel discussion focused on China's emergence as a military superpower.

The chief of defence staff said Canada currently has three frigates operating in the region on joint naval exercises with Japan and the United States. He noted, however, that those ships are reaching the end of their 30-year lifespan.

He also said he's concerned about keeping the country's maritime patrol aircraft flying, saying "serviceability" is below 50 per cent and they are in urgent need of replacement.

The comments from Eyre are just the latest concerns being expressed about what impact looming budget restraint at the Ministry of National Defence may have on the military.

The department is identifying “proposals for spending reductions” totaling more than $900 million over four years, while trying to minimize the impact on military readiness.

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🌱Canada planning $20-billion in subsidies for carbon capture, clean tech

Canada’s government will present legislation this month to start paying subsidies for carbon capture and net-zero energy projects, a source said.

A long delay in state support for carbon capture utilization and storage (CCUS) projects and for equipment used to produce low-carbon energy prompted industry lobbies to warn in September that some $50-billion worth of investments were at risk if the government did not act soon to provide some certainty for the sector.

Finance Minister Chrystia Freeland will announce the investment tax credit (ITC) funding when she presents the so-called Fall Economic Statement (FES) to parliament on Tuesday afternoon, the source added.

It will be included in the FES legislation to be sent to parliament later this month, the source said. Previous budget documents estimated all five of the ITC programs together would funnel an estimated $27-billion during their first five years in operation.

#energy

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🔋Concerns emerge over NextStar's plans to hire foreign workers for battery plant

NextStar Energy Inc.'s plans to bring foreign workers to help build a heavily subsidized battery plant in Windsor, Ont. has drawn concerns about why the jobs aren't going to Canadians.

Conservative Leader Pierre Poilievre said he is pushing for a full inquiry into the issue to find out how many workers the company plans to bring in from abroad. The plant is expected to receive upwards of $15 billion in publicly funded incentives.

Trudeau gives $15 billion of your tax dollars for a company to hire 1600 temporary foreign workers. Your money. Foreign jobs.

Poilievre wrote on X.

NextStar Energy is a joint venture between automaker Stellantis and South Korea's LG.

#Poilievre #Ontario #energy

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Canada's inflation rate cools to 3.1% but the cost of living keeps going up

Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting.

Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago.

If gasoline is stripped out of the numbers, the inflation rate would have been 3.6 per cent in October. That's slightly lower than the 3.7 per cent non-gasoline inflation rate clocked the month before.

Food prices increased at a 5.4 per cent pace over the past year. While that's still higher than the overall inflation rate, it's down from the 5.8 per cent annual pace seen in September.

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🇨🇦🇨🇳Michael Spavor blames fellow prisoner Kovrig for Chinese detention, alleges he was used for intelligence gathering

One of the two Canadians jailed by China for nearly three years in a case that was at the heart of a diplomatic crisis is seeking a multimillion-dollar settlement from Ottawa alleging he was detained because he unwittingly provided intelligence on North Korea to Canada and allied spy services.

Michael Spavor alleges that the deception was conducted by fellow Canadian prisoner Michael Kovrig, and it was intelligence work by the latter that led to both men’s incarceration by Chinese authorities.

China arrested Mr. Spavor and Mr. Kovrig in December, 2018, on allegations of espionage in the aftermath of Canada’s detention of Huawei chief financial officer Meng Wanzhou on a U.S. extradition warrant.

Their arrest caused a major diplomatic incident between Canada and China that was ultimately resolved with their release in September 2021.

#China

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🏠 Kids of homeowners twice as likely to own real estate in Canada

Adult children of homeowners were more than twice as likely to own a home as those of non-homeowners, according to a study by Statistics Canada based on 2021 data.

More than 17 per cent owned homes, compared with about eight per cent for the adult children of non-homeowners. Among adults whose parents owned multiple properties, the homeownership rate was almost 24 per cent.

While home prices have come down, it hasn’t been enough to offset higher mortgage costs and affordability has actually worsened. The Bank of Canada’s own housing affordability index is now near the highest level since 1990.

#housing

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🇨🇦🇺🇸🇨🇳 Canadian parliamentary delegation visits US Congress to discuss China policies

Members of a special Canadian parliamentary committee on China met with their US counterparts for the first time last week, signaling closer alignment of the two legislatures’ approaches towards Beijing.

Seven members from Canada’s top four political parties met with a bipartisan group of representatives from the US House select committee on China, as well as with members of other House and Senate committees.

Ken Hardie, chair of the Canadian group, suggested that the US and Canada could coordinate on responses to Beijing’s alleged attempts to target the Chinese diaspora and influence education in both countries.

#Canada #USA #China

@asianomics

🇨🇦🇱🇻🪖Canada's Leopard 2 tanks arrive in Latvia to bolster growing NATO mission

The Canadian Armed Forces has completed its promised deployment of 15 Leopard 2 battle tanks to Latvia in an effort to create a combat-ready NATO brigade in Eastern Europe.

The squadron of Leopard 2 tanks arrived in Latvia on Nov. 10 along with a detachment of support personnel and equipment, a Department of National Defence spokesperson confirmed Tuesday. The planned deployment was announced in June.

In July, Prime Minister Justin Trudeau visited Latvia, where he committed $2.6 billion to renewing and expanding the Canadian Forces mission to Central and Eastern Europe over the next three years.

#NATO #Latvia

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⚡️🇨🇦🇺🇸Explosion on US-Canada border

An incident involving a car entering the US from Canada via the Rainbow Bridge in Niagara Falls has shut access in both directions.

#US

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