Somehow Canada is more stylish than the United States
He kept his rating as underperform after cutting it on June 12 and continues to see downside risk of 3.5 percent to 5.5 percent. MTS Allstreams consolidated results will be hit by about C$35 million in one-time charges as part of the transaction, he said. As such, valuations for Allstream need to be scaled lower, Shine said. Montreal-based BCE Inc. (BCE) rose 0.4 percent to C$43.79, Rogers Communications Inc. (RCI/B) of Toronto climbed 0.5 percent to C$44.90 and Vancouvers Telus Corp. (T) advanced 0.7 percent to C$34.03. Goldberg said the decision may undermine Manitoba Telecoms ability to finance its acquisition of new spectrum at a planned auction next year and Allstreams ability to raise funding for operations. Sufficient Funds There are a lot of questions that start with whether MTS will have sufficient funds to bid in the auction, Goldberg said. The government has tried to boost competition in the Canadian mobile-phone industry for years by taking measures such as making it more difficult for BCE, Rogers and Telus to make acquisitions and buy spectrum. Last year, Canada lifted restrictions on foreign investment in the sector for companies with less than 10 percent of market share by revenue and announced it would also limit how much spectrum the three main incumbents could buy. The government has become more vigilant about the security of the nations telecommunications networks, and is considering new rules on foreign wireless suppliers deemed security risks, amid concerns about equipment provided by companies including Huawei Technologies Co., Chinas biggest phone-equipment maker, a person familiar with the matter said in March. Comprehensive Undertakings Canadian Trade Minister Ed Fast said the same month that Huawei had been banned from bidding on government telecommunications contracts. MTS Allstream said in December it had won a contract to provide Internet services to as many as 850 federal government sites across the country.
Those, and the shiny graphics on the shoulder, make these so-called sweaters look like T-shirt jerseys designed by Ed Hardy. Nike also cant get enough of arm stripes, which oddly appear only on the left arms of Team Canadas jerseys. Thats a good look if youre in a 1920s totalitarian army, but not so much when youre trying to score goals against Finland. Its not all bad, however. At least Nike used a Canadian symbol the maple leaf as the dominant image on its two main jerseys. It looks great and is immediately identifiable. These look how Canadian hockey sweaters should. Contrast that with the U.S. jerseys that have what appears to be a cartoon-version of a K-Swiss logo on theirs. The black alternate jersey has received the most scorn, but Im digging it. The Olympics are all about tradition and history.
Canada Dollar Falls to Four-Week Low on U.S. Government Shutdown
Canada plans to sell C$2.7 billion ($2.6 billion) of three-year bonds tomorrow, according to the Bank of Canada. The securities mature in February 2017. Canadas trade deficit widened even as exports to the U.S. that reached the highest since the end of 2011. The August deficit increased to C$1.31 billion and Julys shortfall was raised to C$1.19 billion from an initial C$931 million, Statistics Canada said today in Ottawa. The deficit exceeded all 20 economist forecasts in a Bloomberg survey that had a median estimate of C$700 million. Economic Data Canada housing starts increased 5.3 percent to 193,637 units at a seasonally adjusted annual pace in September, up from 184,000 the month before, Ottawa-based Canada Mortgage & Housing Corp. said on its website. That compared with economists forecast of 185,000, according to the median of 21 responses to a Bloomberg News survey. Weve been in a very tight range, Camilla Sutton , head of currency strategy at Bank of Nova Scotia, said by phone from Toronto. Housing starts were a little stronger than expected, but they didnt really change the overall trend. The focus is on the U.S. government shutdown and how it relates to Fed policy and growth outlook. The Canadian dollar has lost 2.4 percent this year against nine developed-market peers tracked by the Bloomberg Correlation-Weighted Index. The U.S.