Industry Headlines in the Spotlight

Competition Bureau to put the spotlight on the internet industry

The federal competition watchdog says he wants to “shine a light” on Canada’s broadband internet providers with the public’s comments on a market that is predominantly served by traditional phone and cable companies.

“There are few products more vital to Canada’s economic future than broadband. We want to shine a light on potential competitive issues in a sector at the heart of our daily lives,” Commissioner of Competition John Pecman said in a recent statement.

More than 550 companies offer alternatives to traditional telephone and cable companies however, 2016 data showed that only 13 per cent of Canada’s retail internet subscriptions were with the alternatives.  So, the bureau says it’s exploring ways to make the broadband internet sector more competitive, including a change to regulations, easier switches between providers and more informed consumer choice.

Representatives of two Canadian consumer advocacy groups said they hoped that the bureau’s study will lead to lower prices.

Recreational home sales ‘robust’ in Canada heading into summer

If you are looking for a place to get away to this summer be prepared to spend more on that new summer home by the water, cottage at the lake, camp or cabin in the woods this season.

While home values and sales activity in Canada’s largest urban markets have softened, demand for recreational properties remains robust in most regions, believe it or not the average price of a recreational home in Canada is expected to rise 5.8 per cent to $467,764 by the end of September, according to a new survey by Royal LePage. 

Retiring baby boomers and gen-Xers are driving up recreational home prices as they look for retirement and secondary homes to raise children.

 

The news comes after data released from real estate boards in Toronto and Vancouver showed that home sales in those cities fell last month. The Greater Toronto Area saw a drop of more than 22 percent compared to a year ago, while Metro Vancouver experienced a decline of more than 35 per cent in the same time period.

But about 42 per cent of the advisers surveyed by Royal LePage said they thought recreational housing sales would increase in their region by the end of cottage season this year, compared to the same period last year.

Canadian economy looks to be doing fine

With all the negative comments in the media about the state of the Canadian economy, you might think we were in trouble however, that is not what the actual numbers are telling us.

As most fear the impacts President Donald Trump’s “make America great again” will have on the Canadian economy, Canadian exports hit new highs. Despite fear of a collapse in construction jobs and business anxiety over rising minimum wages, Canada’s unemployment rate continues to stick at 40-year lows.

A poll of those economists by the financial news service Bloomberg shows they expect to see unemployment stayed at that low level of 5.8 per cent while the economy cranked out another 22,000 jobs.

Trudeau’s marijuana mess

Prime Minister Trudeau’s legacy legislation legalizing weed is going to happen, but the stakes are high, but the fact that this is a transformative initiative isn’t really in doubt even with meddling senators, confusing laws and troubling new health research. 

Trudeau’s marijuana reforms are undeniably bold and a done deal, leaving the provinces to figure out the details and set guidelines on regulating sales. “Ottawa has just very conveniently said, ‘We’ll legalize cannabis, you provinces figure out how to do it,’ ” says Blaine Pedersen, the growth, enterprise and trade minister in Manitoba’s Conservative government.

Legalizing pot is a defining element in Trudeau’s persona, too. He announced his intention in B.C. in the summer of 2013—his first major policy pledge as Liberal leader. “Tax it, regulate,” he said then and is doing now as leader.