As Canada economy continues to grows, there are more things happening in the business world that continues to boost the economy. In the upcoming week, there five developments the canadian business world will be on the look out for.
With the current age of technology, electronics have become a major part of the business world hence the Quebec’s premier and representatives from the automotive industry will be taking the stage at the 29th World Electric Vehicle Symposium in Montreal. This event comes to light as the German automaker Volkswagen announces its plans to make higher sales of electric vehicles. The announcement came after the dispute that took place over diesel cars rigged to cheat on emissions tests.
One of the hot issues to look out for during the course of the week is that of the announcemnet of changes to the Canada Pension Plan. The country’s federal, provincial and territorial finance ministers will be meeting in Vancouver on Monday to hold the talks. It is the expectation of the Federal Finance Minister Bill Morneau to see that the expansion of the CPP deal is accomplished by the end this year but it is has been proposed that the deal might end at an earlier date.
The monthly data of April along with the wholesale trade and travel data between Canada and other countries will be released by the Statistics Canada on Monday. The retail trade data will be made available on Wednesday. Last week the Bank of Canada governor expressed satisfaction about the rate at which the economy is growing.
Although the Canadian smartphone company will hold a meeting on Wednesday with its shareholders in Waterloo, Ont, to release its first quarter fiscal year data, there is no hope for having profits. The company is once again facing losses but there is still room for improvement.
With massive debts to contend with, Penn West Petroleum is to meet with its shareholders on Thursday in Calgary. The company is trying to bounce back into business with its stocks improving last week after it took the decision of selling its Viking assets to Teine Energy Ltd. for $975million. The trade will help Penn West pay off some of its debt while boosting business in the process. Penn West has a debt of over $600million.