Report: up to 24K federal public service jobs could be cut
David MacDonald is a senior economist with the Canadian Centre for Policy Alternatives. He discusses how the federal job cuts could affect the economy.
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CTV News
6 minutes ago
- CTV News
‘Something pretty special': N.S. cider appellation is a first in Canada
The Nova Scotia Cider Association has launched Canada's first cider appellation called 'Red Sky.' Poet Comeau, the owner of Lake City Cider and president of the Nova Scotia Cider Association, said the cider showcases the high quality of apples grown in the province. 'I think it's just about looking at what we have here in Nova Scotia and realizing that it's something pretty special,' said Comeau in an interview with CTV's Todd Battis on Friday. 'Red sky at night, sailors' delight. Red sky in the morning, sailors take warning. It's just that connection to where we are and how unique Nova Scotia is.' Comeau said a cider can only be recognized as a 'Red Sky' if it meets certain standards. 'There's quality control, there's a blank tasting and you need to submit samples for the blind tasting to get though the qualifications. There are even things around sugar levels, acid levels, and you need to have a blend of apples and not one particular type.' There are currently nine qualifying ciders available across the province, said Comeau, with all of them being available at the NSLC around the end of August for a short period of time. Reducing interprovincial trade barriers With provinces changing rules around importing and exporting alcohol across the country, Comeau said it's important that Canadian products are being consumed by Canadians. 'I think that the best products that are made in Canada should be enjoyed by Canadians,' she said. 'It's going to take a little bit of time and reworking just because we are used to the way things used to work, but I think the idea about reducing some of those barriers is really about getting great products across Canada.' Comeau said ciders are different from other products as apples cannot grow in every climate. 'Apples don't grow everywhere. I think it makes our product a little more unique. It does create opportunities and markets where maybe they don't have cideries. I think a great way to promote something like 'Red Sky' is with that restaurant experience and pairing it with food and enjoying it with others.' For more Nova Scotia news, visit our dedicated provincial page
Globe and Mail
36 minutes ago
- Globe and Mail
Amber Kanwar's Weekly Setup: Big tests are coming for the markets
My husband got taken down by a nasty summer bug but has reintegrated into the family. He stayed in the guest room to avoid infecting me and the kids. He passed his time watching TV and having meals delivered. I'm glad he is back in the fold, but I would be lying if I didn't admit there is a small part of me that thought about licking one of his spoons to get a few days alone in a quiet room. This is not the week to call in sick with huge catalysts on deck. Here are the five things to watch: Magnificent week: With the S&P 500 sitting atop a record high, the resilience of the Magnificent 7 (also at a record) will be the next test for the markets. Four of the seven companies report this week, including Meta Platforms Inc. META-Q, Microsoft Corp. MSFT-Q, Apple Inc. AAPL-Q and Inc. AMZN-Q They represent a combined US$14-trillion in value. The big question for all of them will be how much each company is spending on AI. Although for Apple, it will be more like, 'Have you heard of AI?' Apple is the second-worst-performing Mag7 after Tesla Inc. TSLA-Q, down about 14 per cent so far in 2025. The reason Apple is in the dog house is because it lacks a clear AI strategy, according to Needham senior analyst Laura Martin. She said 'calls to replace Tim Cook as Apple CEO are getting louder every quarter that Apple doesn't lay out a comprehensive GenAI strategy.' After Alphabet Inc. GOOGL-Q surprised investors with a US$85-billion spending plan, there is a good chance the others follow suit. Is it any wonder that Nvidia Corp. NVDA-Q is back at a record high and the best-performing Magnificent 7 in 2025? Decisions, decisions: If mega-cap earnings weren't enough, the Bank of Canada and U.S. Federal Reserve are delivering interest-rate announcements on Wednesday. The BoC is expected to keep rates on hold at 2.75 per cent for a third time in a row. Core inflation, which is hanging around 3 per cent, and the oddly robust jobs data from earlier this month make it an easy bet that the BoC will hold. It is also an easy bet that the Federal Reserve won't cut this month, although U.S. President Donald Trump may think otherwise after meeting with Fed Chair Jerome Powell this week on a tour of the central bank's renovations. Mr. Trump said Mr. Powell congratulated him on a strong economy, which he took to mean that rate cuts are coming. Watch for dissenters on the decision; those are the ones auditioning for Mr. Powell's job when his term expires next year. Hold your breath: In the past three months, UnitedHealth Group Inc. UNH-N has slashed its profit forecast, announced that its CEO is leaving, then suspended its profit forecast altogether and endured a 50-per-cent drop in the value of its shares. And just last week, it confirmed that it is the subject of a Department of Justice investigation into its Medicare practices. Talk about a season to forget. The embattled health insurer is set to report quarterly results Tuesday morning as its stock languishes at the lowest level in five years. However, that now means it sports a low-teens multiple. Before you let that lure you in, like yours truly, value investor Michael McCloskey, founder and president of GreensKeeper Asset Management, said on my podcast this week that this has the markings of a value trap. 'When you see the suggestion that maybe they're playing games with Medicare, it's the cockroach theory,' he said. 'I might be totally wrong, but when I see that, I tend to stay away.' Flying close to the sun: Bombardier Inc. BBD-B-T reports this week and talk about a comeback story. The stock is up 1,400 per cent over the past five years compared with just 100 per cent for the TSX over that time. It went from a universally unloved stock with high debt levels to a Bay Street favourite with a new investment-grade debt rating. Its transformation into a business-jet company has paid off big time. But some analysts say the setup from here gets harder. TD Cowen analyst Tim James downgraded the stock last week on the runup and says it has a bad habit of falling on earnings days regardless of the results. '[The] recent share-price strength may heighten Q2 hurdle for driving further short-term upside,' said Mr. James in a note downgrading the stock from buy to hold. Hot commodity: MEG Energy Corp. MEG-T reports results Thursday after the close. The energy producer is subject to a hostile bid from Strathcona but reports last week suggest Cenovus is preparing a rival bid. The company will likely be tight lipped about what it can say, but analysts and investors may pry to see where the companies are in the process and how many other bidders have kicked the tires. In the Money with Amber Kanwar brings you actionable insights from top portfolio managers and business leaders. New episodes out Tuesdays and Thursdays. Subscribe now!
CBC
an hour ago
- CBC
Canadian targeted by Hong Kong arrest warrant decries Beijing's 'tyranny'
The Canadian government is condemning new arrest warrants issued by Hong Kong for activists based overseas, including in Canada. Canadian Victor Ho, who is among those named in the warrants, sees it as the latest example of 'transnational repression by the Communist government in China,' and says he's not afraid to be targeted.
