Financial Post
Wednesday, August 15, 2007
" While market turmoil and fallout from the subprime-mortgage crisis have fuelled worries about the health of Canada's largest trading partner, the effects on consumers in this country's economy are less clear.
"Any time the biggest economy in the world feels the pinch, the rest of the world economy feels it as well," said David Wolf, Canadian economist at Merrill Lynch. "Many Canadian consumers work at producing goods and services that U.S. consumers buy or use and if the U.S. consumer is less willing to spend, it can affect [Canadian businesses and products] but any impact would likely be minimal.
" We have a 33-year low on the unemployment rate and the U.S. does not.
We are seeing acceleration in wages and the U.S. has not.
Canada's housing market is in great shape, in contrast to the U.S.
It's like apples and oranges right now." "
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Thursday, August 16, 2007
Wal-Mart reports wary shoppers 'Continue To Be Under Pressure Economically'
As seen in Finnancial Post Wednesday, August 15, 2007
Hollie Shaw
" North American markets were slammed again yesterday on signs the American consumer -- perhaps the biggest driver of recent economic expansion in both the United States and Canada -- is getting much more cautious about spending.
Wal-Mart announced second-quarter profit below analysts' expectations and trimmed its earnings forecast. Shoppers remained conservative amid higher gasoline prices and housing costs.
"U.S. consumers continue to be under difficult pressure economically," said H. Lee Scott, Wal-Mart chief executive. "The top concerns among our customers are economic, money and finances, the increase in the cost of living, and gas prices."
Hollie Shaw
" North American markets were slammed again yesterday on signs the American consumer -- perhaps the biggest driver of recent economic expansion in both the United States and Canada -- is getting much more cautious about spending.
Wal-Mart announced second-quarter profit below analysts' expectations and trimmed its earnings forecast. Shoppers remained conservative amid higher gasoline prices and housing costs.
"U.S. consumers continue to be under difficult pressure economically," said H. Lee Scott, Wal-Mart chief executive. "The top concerns among our customers are economic, money and finances, the increase in the cost of living, and gas prices."
Consumer spending, which makes up about 70% of the U.S. economy, slowed to a 1.3% annual growth rate in the second quarter, the weakest since 2005 "
Technology Partners forms $300M life science fund
As seen in the Silicon Valley / San Jose Business Journal
- July 31, 2007
Technology Partners said Tuesday it formed a $300 million fund that will be equally directed toward cleantech and life science companies.
Palo Alto-based Technology Partners said Fund VIII follows the same strategy the firm used in previous investments.
Technology Partners said its cleantech investments primarily focus on energy technology, water technology and advanced materials. In life sciences, it looks for opportunities in neuroscience and lifestyle therapies in areas ranging from aesthetics to obesity to women's health.
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Saturday, August 11, 2007
In Pictures: World's Best Low-Cost Carriers
As reported in Forbes August 10, 2007
Lauren Kerensky
Low-cost carriers are knocking big-name airlines out of the sky with longer routes, improved services and rock-bottom prices
View Slide Show
Low-cost carriers are knocking big-name airlines out of the sky with longer routes, improved services and rock-bottom prices
View Slide Show
World's Best Low-Cost Airlines
As reported in Forbes August 10, 2007 World's Best Low-Cost Carriers
Lauren Kerensky Low-cost carriers are knocking big-name airlines out of the sky with longer routes, improved services and rock-bottom prices.
Tuesday, August 7, 2007
2007 drilling forecast nearly 25 per cent
More tough times ahead for drillers
Wet weather, low gas prices blamed
As seen in the Calgary Herald
Friday, July 27, 2007
" The clouds got darker for Canada's drilling services sector Thursday after a leading industry group slashed its 2007 drilling forecast nearly 25 per cent -- and the country's biggest driller reported a dramatic drop in second quarter earnings.
The Canadian Petroleum Services Association (PSAC) now expects 17,650 wells will be drilled in 2007 from last year's record count of 23,306.
Alberta is expected to experience a 27 per cent drop, while gas-dominated British Columbia is expected to fall 42 per cent.
In New York, oil closed at $74.95 US a barrel while natural gas finished at $5.94.
After a prolonged spring break-up, Canadian service outfits are already feeling the pain of what industry insiders say is shaping up to be the worst drilling year in a decade.
Wet weather and high levels of uncertainty stemming from falling natural gas prices combined to produce some of the lowest activity levels in 10 years, Precision said.
Precision, which operates about a third of all rigs in Canada, has seen its bottom line deteriorate as the big natural gas producers -- EnCana Corp., Canadian Natural Resources Ltd. and Talisman Energy Inc. -- cut back spending in response to higher costs and lower commodity prices.
"As a result we do not see a material increase in rig count until the tail end of 2008," it said.
According to the Canadian Association of Oilwell Drilling Contractors, 42 per cent of 885 available units were working this week, down from 73 per cent at this time last year.
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