Economy grows more than expected in January

The Canadian economy grew by a better-than-expected 0.5 per cent in January, rebounding from December's weather-induced shrinkage.

Many economists were expecting to see growth of between 0.3 and 0.4 per cent, even though January had a few of its own nasty weather surprises. GDP fell 0.5 per cent in December. 

Manufacturing, mining and oil and gas extraction, retail and construction led January's turnaround, Statistics Canada said. Agriculture, forestry and utilities were the only sectors to register month-over-month declines.

Manufacturing's rebound was particularly robust, growing by 2.0 per cent in January — fully reversing December's 1.9 per cent slide.

But some analysts noted that higher GDP did not translate into more jobs on Canadian payrolls.  

"Although output bounced back to even, this rising tide did not lift workers' boats," said Erin Weir, an economist with the United Steelworkers union.

Weir pointed out that Statistics Canada also reported today that employers cut the number of employees on their Canadian payrolls by 7,000 between December and January. 

 In a separate report, Statistics Canada said wage growth was at its highest level in 16 months. Average weekly earnings, including overtime, were up 3.0 per cent year-over-year in January, led by Alberta's 5.1 per cent gain.

"While no one would mistake growth for being robust, it does look sturdy enough to top the economy's two per cent potential growth rate this year," said BMO Capital markets chief economist Douglas Porter in a morning commentary. "The uptick in wages is an added bonus for the outlook."   

For the year as a whole, StatsCan said GDP was 2.5 per cent higher than the previous January.  

22.40 | 0 komentar | Read More

What do new BlackBerry phones, desktop BBM mean for the company?

(Geoff Robins/Canadian Press)

Join tech analyst Carmi Levy and CBC Kitchener-Waterloo online host Andrea Bellemare in a noon live chat on Monday, March 31 about what's next for smartphone maker BlackBerry.

BlackBerry posted a $423 million US loss for the fourth quarter of fiscal 2014 on Friday even as the company told Reuters it was looking to target business executives with high-end keyboard phones and was considering bringing the BBM app to desktop. 

Revenue for the smartphone maker over the three-month period fell to $976 million — a 64 per cent decline from $2.68 billion a year earlier.

Despite its struggles, CEO John Chen told CBC's Amanda Lang, host of The Lang & O'Leary Exchange in an interview that he has "no interest" in selling the company any time soon, which he says has a lot of value.

"I think the shareholder will not be as rewarded by selling at this point because our full value hasn't been realized," he said.

Chen has also said that the company has designed at least three different handsets as they work to bring phones to market that will appeal to government workers and business users.

The company is also considering bringing the BlackBerry Messenger service app to desktop users, a move aimed at corporate users and transition group chats from computers to phones.

Many are pinning their hopes for the company on Chen, but could these moves be enough to change BlackBerry's fortunes? 

We'll discuss those questions and more at a noon live chat on Monday, March 31.

• Scroll down to the bottom of the chat and enter your name in the name box, text in the larger box below. When you are ready to send your comment, press enter.
• You can also sign in with your Twitter or Facebook accounts, using the buttons at the bottom of the chat.
• Remember all comments are pre-moderated and any obscene comments, or comments that attack other users, won't appear in the chat. Please be patient if your comment doesn't appear immediately. 

MOBILE USERS CLICK HERE

 

22.40 | 0 komentar | Read More

Cheapest house in Vancouver on sale today, listed at $600K

Only in Vancouver would a $600,000 house be considered a deal, but in a city of million-dollar homes, a 100-year-old blue house on Clark Drive stands out.

The home, listed for $599,000, is the cheapest listing in the city right now. (CBC)

The 1,951-square-foot, three-bedroom, detached house at 2622 Clark Dr. is set to go officially on the market today. It's been listed at $599,000.

"It's very rare, and that's why all the excitement," said RE/MAX realtor Mary Cleaver during an open house on the weekend.

The 1911 house sits on only a half lot and looks out on a busy street, but the old house has plenty of character and was built to last.

"I believe this house was, potentially, saved because it is on a different kind of lot, one that isn't necessarily appealing to builders. So this has been a lovely family home for 100 years and, if well taken care of, could house a family 100 years from today," she said.

Click on the video icon at the top of this story to see more images shot outside and inside the home.

This 100-year-old house on a half lot at Clark Drive near 10th Avenue in Vancouver goes on sale today. (CBC)

22.40 | 0 komentar | Read More

Cost to mail a letter soars 35% today

The cost of mailing a first-class letter within Canada went up to 85 cents today — a 35 per cent jump from the 63 cents it cost yesterday.

But the 85-cent rate is only available if stamps are purchased in a pack. If you want to buy just one stamp, it will cost $1.

Permanent stamps, which are marked with a "p" instead of a specific price, can still be used even though they were bought at the lower price.

A Canada Post employee delivers mail in Ottawa. Canada Post is hiking the cost of postage stamps to try to stem soaring losses. (Chris Wattie/Reuters)

Canada Post gave notice of the big price hike in December as part of a plan to reduce ongoing and deepening losses.

At the same time, it also revealed plans to phase out door-to-door mail delivery to the one-third of Canadian homes that still receive it. 

By switching to a system where mail receivers will go to community mailboxes (CMBs) to retrieve their letters, the mail service hopes to save hundreds of millions of dollars per year.

"With the increasing use of digital communication and the historic decline of letter mail volumes, Canada Post has begun to post significant financial losses," the corporation said in a December news release.

"If left unchecked, continued losses would soon jeopardize its financial self-sufficiency and become a significant burden on taxpayers and customers."

A Conference Board of Canada study last year predicted that if nothing were done to rein in costs, Canada Post would be posting losses of $1 billion annually by 2020.

But the Crown corporation's plan to eliminate its red ink by dramatically hiking stamp costs has angered many users, including the Canadian Federation of Independent Business, which represents more than 100,000 small and medium-sized businesses.

A survey the CFIB carried out last October found that almost 40 per cent of its members send at least 50 pieces of letter mail a month.

22.40 | 0 komentar | Read More

Toyota workers in Cambridge, Woodstock to vote on joining Unifor

Workers at Toyota's Ontario plants in Cambridge and Woodstock will vote next week on whether to join Unifor, which would make them the first unionized Toyota plants in North America.

Unifor says it filed has an application with the Ontario Labour Relations Board to become the bargaining agent for the more than 6,500 employees at the two plants.

Past attempts at unionizing workers the two plants have been unsuccessful.

On CBC's The Morning Edition Feb. 20, Unifor's director of organizing John Aman said he believed this vote would go through largely because times have changed. 

"There's a lot of uncertainty today in the economy, and there's a lot of pressure put on all workers, union and non-union," he said.

"People have told us this [Toyota] is a good place to work, but over the years they've seen a digression of their benefits, their working conditions, and they want to have a voice in their future job security."

Unifor was created in 2013 by the merger of the Canadian Auto Workers union and the Communications, Energy and Paperworkers union. It currently represents more than 300,000 members in 20 different economic sectors.

22.40 | 0 komentar | Read More

BlackBerry CEO John Chen on his turnaround strategy

John Chen has an enviable track record as a turnaround specialist for troubled tech companies. But the 58-year-old Hong Kong native knew he'd really have his work cut out for him when he assumed the role of CEO at BlackBerry, one of Canada's most iconic tech companies. That was five short months ago.

BlackBerry was in desperate shape at the time, shedding customers and losing billions as more aggressive and nimble smartphone companies helped themselves to a market share that was at one time so solid, it seemed to be a BlackBerry birthright. 

But how to engineer the turnaround? How even to stop the hemorrhaging?

In a wide-ranging and revealing interview with Amanda Lang, host of The Lang & O'Leary Exchange, Chen spelled out the rationale behind his customer-first repair strategy. 

To that end, Chen did a lot of listening to his core customers – the long-neglected business market (what's often referred to as the enterprise market). He tried to find out what they don't like and what they do. "If the customer likes it, it's the right thing to do," he says — a phrase that amounts to Chen's turnaround tagline. Discussions like that persuaded him to bring back some much-loved but abandoned features.

"I knew we'd have to stabilize the company and show some level of confidence," Chen says. "And the only way to do that is to tell your customers that you're here to stay; we're very focused on delivering better products, better services, going forward." 

'If the customer likes it, it's the right thing to do'- BlackBerry CEO John Chen

Chen knew his enterprise users were starting to worry.  Not to worry, was Chen's message back. "We're here to stay and there's a future plan of good technology and services."

But the CEO says his company's more than 60 million mobile subscribers aren't being forgotten in the rush.  "I don't want anybody to think that BlackBerry is walking away from the mass market. But in order to repair the company, especially on the financial side of the equation, I need to focus on the enterprise customer first."

Some analysts have speculated that Chen's cleanup, his aggressive cost-cutting, seems designed to pretty up BlackBerry's balance sheet for a possible sale. Maybe down the road, in "a number of years... ages... decades...", he told Lang, but not now, he insists.

"I have no interest in selling the company," Chen said. "Not at this point. I think the company has a lot of value. I'm interested in unlocking that value. I think the shareholder will not be as rewarded by selling at this point because our full value hasn't been realized."

Just watch us, seems to be Chen's message to the shareholders, the customers, the competitors, and especially the doubters.

Is it working? Chen thinks the doubters are starting to come around. "People are [saying]...maybe there's a chance it'll come back. All I ask for is that, to give us the opportunity to execute."

22.40 | 0 komentar | Read More

BlackBerry loses $423M in last quarter as revenue plunges

BlackBerry reported a steep drop in revenue and a widening loss as sales of its smartphones continue to slide.

The smartphone maker says it lost $423 million US in the fourth quarter of fiscal 2014, as revenue for the three-month period fell to $976 million — a 64 per cent decline from $2.68 billion a year earlier.

It's the first time since late 2007 that the company's quarterly revenue has dipped below $1 billion.

The smartphone maker said the loss amounted to 80 cents a share compared with a profit of $98 million or 19 cents per share a year ago.

But excluding several one-time items, BlackBerry said it had an adjusted loss from continuing operations of $42 million or eight cents per share for the quarter. That beat analyst expectations, which called for a per share loss of 57 cents.

Struggling smartphone maker BlackBerry said Friday that it lost $423 million in the fourth quarter. (Mark Blinch/Reuters)

At the start of trading on the Nasdaq, BlackBerry shares were up 3.6 per cent to $9.38 US, a 33 cent jump.

The smartphone maker reported $6.8 billion in revenue for the fiscal year, down 38 per cent from $11.1 billion in the previous year.

'[It's] very important that the market knows that we're here and we want to fight."'- John Chen, BlackBerry CEO

However, the company said its margins grew to 43 per cent, an increase from 34 per cent in the third quarter.

But sales of phones continued to slide. The company sold 3.4 million smartphones to customers in the fourth quarter, and of those 2.3 million phones were BlackBerry 7 devices, not the company's newer Z10, Z30 and Q10 devices.

BlackBerry sold just 1.1 million of its newer devices, lower than analyst expectations of 1.3 million.

Bold move

As a result of this, chief executive John Chen said in a conference call with investors that the company will restart production of the BlackBerry Bold, one of the company's most popular phones.

The phone, first introduced in 2011, will be re-released as "The Classic".

He says the devices will be aimed at "true BlackBerry loyalists", will be on sale by the end of the year, and will stay on sale as long as there's demand for it.

Since taking over the company's top job in November, Chen has been trying to boost the company's services and software divisions, reducing its reliance on selling phones.

Earlier this week, the company revealed its plan to make money using its BBM chat service, using advertising, sponsored promotions, and a new BBM Store that will sell digital goods.

The revenue breakdown for the quarter included about 37 per cent from hardware, 56 per cent for services and seven per cent for software and other revenue.

Looking to break even

In its outlook, BlackBerry says it is targeting break even cash flow results by the end of its 2015 financial year — next March. Over the past quarter, the company's cash reserves shrank by $500 million.

At the beginning of March, the company says, it had $2.7 billion US in cash on its books, down from $3.2 billion at the end of November.

Earlier this month, BlackBerry announced it would sell the majority of its Canadian real estate, which should bring a temporary cash infusion in June, when the sale is expected to close.

Faced with mounting losses and high costs, the company cut 4,500 jobs in September — 40 per cent of its workforce.

In November, Chen took over and quickly implemented a two-year turnaround plan.

In an interview with Amanda Lang on CBC's The Lang & O'Leary Exchange, Chen says he's committed to the turnaround.

"I hope you see that in the last few months, we've been very focused on trying to tell our story, talking to the press, doing media interviews," Chen said.

"Normally I shouldn't be doing this. But I figure this is very important that the market knows that we're here and we want to fight."

The full interview will run Friday at 7 p.m. ET on The Lang & O'Leary Exchange on CBC News Network.

In the conference call, Chen said the plan is on track, and may even be ahead of schedule. Use of cash for operational costs are down 30 per cent in the past quarter alone.

"The guy is on the move fast," said Colin Gillis, an analyst at BGC Partners. "He can control expenses, but you can't magically make revenue happen."

22.40 | 0 komentar | Read More

Mark Carney wanted orbiting Chris Hadfield at $5 polymer note unveil

Remember the Bank of Canada's unveiling event for the $5 and $10 polymer bank notes? The one where Canada's first commander of the International Space Station, Chris Hadfield, was beamed in live — floating $5 note and all?

New documents obtained by CBC News under the Access to Information Act reveal the decision to beam Hadfield in came from the very top of the Bank of Canada chain of command — then-governor Mark Carney himself. Carney was in his final months in the role before heading off to take the helm of the Bank of England.

"In recent conversations with the governor, he said that he would like to have Chris Hadfield's participation at the event. I believe you are of the same opinion," communications chief Jill Vardy wrote in an email dated Feb. 26, 2013.

"Remember that Hadfield has a $5 note in space and will be taping a short segment for us that was to be used for the issue event (not the unveil)."

At this point in time, both Hadfield and the new $5 note, which carries a depiction of the Canadarm2, was already circling the Earth onboard the ISS. According to email correspondence among Bank of Canada staff, the original plan was to air a taped video of Hadfield during the issue ceremony in Ottawa, scheduled for fall 2013. 

Astronaut Chris Hadfield, left, presents Bank of Canada governor Stephen Poloz with the $5 bill he took into space at a ceremony to officially issue the new $5 polymer note, which features the robotic Canadarm2 and Dextre on Nov. 7, 2013, in Longueuil, Que. (Ryan Remiorz/The Canadian Press)

The April unveiling event — only a few months away as of the February email — was meant to be "low-key, in a local school or the Garden Court, with the governor and minister of finance only."

A responding email sent on the same day agreed to explore the suggestion.

A communications staff member said he liked the Hadfield ideas and had raised the live feed idea with a co-worker "the week before last, who advised it was impossible."

"If something has changed, then we should try this or the taping. Either seems like a very topical approach given all the exposure Hadfield has been getting," reads the email. 

A meeting between senior staff and Carney was then arranged for March 6. 

On March 7, an internal Canadian Space Agency email, contained within another set of documents CBC News previously reported on, shows the change of plans.

"The [Bank of Canada] VIP really wants a LIVE event with Chris," the note read. 

There was brief consideration of the potential risk involved with the satellite downlink, due to a spacecraft launch to the ISS that was taking place around the same time. But five days later, the space agency appeared to have worked out the kinks.

Along with the possibility of a space debut, Bank of Canada staff floated the idea of having the CEO of Via Rail debut the $10 bill from a train (the bill features a Via Rail train journeying through the Rocky Mountains). That idea ultimately wasn't picked up. 

'Journalists' questions not wanted

The documents also reveal that promotional planning for the $5 and $10 polymer notes began even earlier than the February 2012 mark last reported.

An internally sent email dated Aug. 12, 2011, from a Bank of Canada staff member said he received a call from a Canadian Space Agency employee Fabienne Lebranchu.

"She's calling because she's heard that the new $5 note will feature the Canadarm on it. She said Chris Hatfield [sic] will go on a space mission in 2012 and she would like to see if there's any way he could bring the new note (or a prototype, if it's not available yet) with him on the mission," reads the email.

Canadian Space Agency spokesperson Julie Simard told CBC News that Lebranchu was not the originator of the idea, but was merely co-ordinating with the bank to take care of "the logistic behind the official flying kits." 

"What is not reflected in the documents you have, are the discussions and meetings that took place in both organizations prior to that specific phone call," Simard said in an email. 

At any rate, the nearly two years' worth of planning culminated in a highly scripted unveiling, which went off mostly without a hitch, save for then-finance minister Jim Flaherty finishing his speech early and having to bide time before the link with Hadfield went live. The event also included three contingency plans in case the satellite link went awry. 

The planning was so carefully planned, in fact, that Bank of Canada communications staff caught one big no-no in a draft of the script for the event photo-op.

"Please don't use the word 'photojournalists' as is in the script. Say something like 'photographers and videographers are now invited to a photo op (details here)... a reminder that this is a photo op only — the minister and governor will not be taking media questions during the photo op,'" reads an email.

"It won't stop reporters from asking but it will at least draw the line. Jeremy and Kathleen will both be there and can give you the signal to shorten the photo op if it gets too unruly."

Live broadcast 'even better than pre-recorded clip'

When reached for comment, Carney's current spokesperson at the Bank of England directed CBC News to the Bank of Canada, which confirmed Carney's intervention in the plans.

"The governor and other senior officials felt the event would be more appealing to media if Commander Hadfield unveiled the note from space while he was there," spokesperson Alexandre Deslongchamps wrote in an email to CBC News.

"This presented a unique and unprecedented opportunity to showcase Canada's contributions to space exploration. Following that line of thinking, it became clear that having a live broadcast from space — were it possible — would be even better than a pre-recorded clip."

Deslongchamps noted that a pre-recorded clip "wouldn't have attracted the same media attention, even if it would still be innovative."

He said the goal was to maximize media coverage in a cost-effective way. As CBC News reported in January, the live feed from the International Space Station alone cost just over $9,000.

"The Bank of Canada was able to create a compelling event for media and Canadians in general, thereby reaching its goals."

22.40 | 0 komentar | Read More

'Zapper' in crosshairs as taxman targets high-tech tax evasion

The federal government is hoping that new rules will help fight the shadowy problem of electronic tax evasion in restaurants and retail stores across the country.

Software known as a "zapper" or phantomware allows businesses to erase or modify sales transaction records in electronic cash registers, which often run on commonly used operating systems like Microsoft Windows.

Zappers are usually housed on a USB key that can be plugged into the register while phantomware tends to be installed directly on sales terminal software.

Small enterprises, particularly restaurants, in Canada and many other countries have been known to use both types of technology to help skim cash from the register, robbing the government of tax revenue by making it appear they sold less than was actually the case.

The federal government is trying to crack down on the use of such software, saying that it "undermines the competitiveness of businesses that abide by the rules" and "offers an unfair advantage to those who fail to comply with Canada's tax laws."

New federal rules that came into force this January mean businesses or individuals caught using, developing or selling zappers can face a fine of between $5,000 and $1 million. A criminal conviction could result in a prison sentence of up to five years.

Growing problem

Electronic sales suppression has been a growing problem for more than a decade, according to a 2013 report by the Organization for Economic Co-operation and Development (OECD). Investigations are underway in a number of countries to determine whether sales-suppression software has become sophisticated enough to manipulate credit card and debit transactions as well as cash sales, the OECD says.

But it's hard to say just how prevalent the problem is or how much it's costing governments.

Restaurateurs in Quebec are required to connect their cash registers to a sales recording module like the one above. (Revenu Québec)

"Countries find it difficult to put a precise figure on what the risk is, because potentially, it is a very, very significant number," said Mark Johnson, a policy adviser with the OECD's centre for tax policy. "Every country the OECD knows of, where governments have thought, 'OK, we're going to look at whether or not this risk is present,' have ultimately found out that it is."

One of the largest legal cases in the United States involving electronic sales suppression centred on Talal Chahine, a restaurateur in Dearborn, Mich. In the mid-2000s, the U.S. Department of Justice accused Chahine of skimming more than $20 million US from his restaurant business using sales-suppression software. The money was allegedly transferred via cashier's cheques to Lebanon, where Chahine is believed to still be on the lam.

'Countries find it difficult to put a precise figure on what the risk is, because potentially, it is a very, very significant number.'- Mark Johnson, OECD policy analyst

Legal cases have cropped up north of the border as well. One of the earliest court cases took place in Quebec in 2000, when a judge granted an absolute discharge to Stephane Mercier, who had admitted to devising zapper software in the mid-1990s.

Mercier testified that he was employed at a restaurant at the time and that his bosses had asked him if it would be possible to create such a program. He said it took him less than two days to devise one and that he was paid $700 and given a dozen free meals for his trouble.

One of the most recent Canadian cases came to a close last year, when two restaurants pleaded guilty in a Manitoba court to hiding more than $150,000 in sales by using zappers. 

Search for solutions

Governments have tried a range of approaches in recent years to get a handle on the problem. In Portugal, software is now installed on sales terminals to encrypt data on transactions that helps to verify their authenticity. In Sweden, the government has passed strict rules governing which functions a sales terminal must have and which functions are forbidden.

In Quebec, the government made it mandatory in 2011 for most restaurants to outfit cash registers with so-called sales-recording modules, or "black boxes," which record data on sales transactions that businesses are then required to relay regularly to the provincial tax agency. The Quebec government says the black boxes helped generate $160 million in additional tax revenue in the first year.

Businesses have to pay for the devices, but the province has offered subsidies to help them cover the cost.

The Canadian Restaurant and Foodservices Association has criticized Quebec's approach, saying that it creates "ongoing costs and red tape for the province's restaurant owners, including the vast majority who are already complying with the law."

However, the province says the project has been so successful that it's being expanded. By 2015, Quebec bars will be required to install the devices, which the province says will help generate tens of millions of dollars more in tax revenue each year.

22.40 | 0 komentar | Read More

Real estate sales seem on hold ahead of Quebec election, agents say

The Quebec election has real estate agents on both sides of the Quebec-Ontario border agreeing on one thing: the market is on hold as home buyers await the outcome.

Realtors say a Parti Québécois majority on April 7 likely wouldn't result in the kind of mass exodus that followed the party's first election victory in 1976.

Thousands of Quebecers, mainly anglophones, fled the province after the Réné-Lévèsque-led PQ stunned the rest of Canada by surging to a majority win.

Libby Broady, a Montreal real estate broker, says the market is taking a wait-and-see attitude this time around.

"Everything seems to be on hold from the buyers' standpoint," the 69-year-old said in an interview. "The buyers are not jumping in and making offers."

'Everything seems to be on hold from the buyers' standpoint.'- Libby Broady, Montreal real estate broker

Broady, a real estate agent in Beaconsfield for 26 years, said the local market improved this past January and February after a slow 2013.

That momentum, according to Broady, stalled when the PQ called the election in the first week of March.

"We've had a complete drying up of sales since the announcement for the election and we have had a real slowdown in the number of visits to our listings," she said.

Few with plans to move

She stressed she is not seeing people wanting to sell their homes and move to nearby communities on the Ontario side of the border.

But that could change, she believes, if the PQ wins the election.

"Maybe if the PQ got in with a majority and started talking referendum again, then you would see a completely different scenario," Broady said.

"Then we might see people seriously wanting to list their homes and get out — but we're not at that point yet."

She suggested the elderly may be among the first to consider leaving Quebec if the PQ wins.

"It is the retirees who are fed up and they say it's time to leave," she said.

"I haven't seen a lot of them putting their houses on the market in order to leave, but maybe that will happen if the PQ gets in with a majority."

One realtor in Hawkesbury, west of the Quebec border, agreed with Broady that nothing is moving.

Lana Barnes said the problem seems to be that Quebecers — mainly those living on the western half of Montreal — cannot sell their homes.

She said jokingly she loves PQ leader Pauline Marois.

The four main parties in the race were represented at Thursday's debate by, from the left, Coalition Avenir Québec leader François Legault, Liberal Leader Philippe Couillard, Parti Québecois Leader Pauline Marois, and Françoise David of Québec Solidaire. (TVA)

"The more she flaps her yap, the better it is for my business because people keep coming here (to inquire)," said the former Montrealer, who left Quebec with her husband in 1979.

"We married 37 years ago when all the crap was happening in Quebec," said Barnes, 60.

"So we just said: 'Do we want to put our money into Quebec or do we want to put our money in Ontario?' and seeing as how we had the option, we chose and came to Ontario."

Hawkesbury, which is located on the Ottawa River, is less than a one-hour drive from Montreal.

Barnes said that since the PQ's minority victory in September 2012, inquiries from Quebec-based buyers have tripled — from two to six calls per week.

But real estate statistics provided to The Canadian Press indicate there was no significant increase in overall home sales in Hawkesbury in the months after the PQ's election.

A monthly sales report showed that 11 houses were sold in September 2012, 12 the month after and 11 in November. In 2013, sales in the Hawkesbury market peaked at 20 homes.

The report was provided by the Cornwall and District Real Estate Board.

The average sale price of a home in the Hawkesbury area at the time of the PQ election victory 18 months ago was $168,500. In February, just before the election call, it was $128,900.

Jackie Smith, a real estate agent in Lancaster, another Ontario town just across the Quebec border, agreed nothing will happen until after the election.

"We get the feeling that everybody who may be even thinking of moving is just sitting and waiting and reading the papers and watching TV and just seeing what happens," she said in an interview.

Smith, 68, has been selling homes in the Lancaster area since leaving Quebec in 1992.

"For all that time, we've had buyers from Quebec coming in, it ebbs and flows according to what party is in and what they're saying and doing," she noted.

Smith said people who settle in her area, which is made up of villages and rural properties, are concerned about the political situation, but are also looking for reasonably priced housing.

Jacques Perreault, president of the Cornwall and District Real Estate Board, pointed out the market is now being affected by the retirement of baby boomers.

He said retirees may want to sell their home in a large city and move to a smaller town because it would be more comfortable and less stressful.

No sense of panic after PQ win in 2012

Perreault, a Cornwall real estate agent for 12 years, added he's not sure Quebec's political situation would be the main reason for a move out of the province.

"I don't think it's an absolute thing that people are just leaving Quebec because it's so intolerable," he said. "I don't think it's reached that point but, certainly, it might help them make that decision."

Perreault, 57, also said he didn't sense a panic after the PQ was elected in 2012.

"I've always had clients from Quebec, I had a few last year...(but) was it due to the PQ? ... I can't nail it down," he said.

"I think we'll find out April 8 what will truly happen — depending on the election."

22.40 | 0 komentar | Read More

GM expands recall of small cars over ignition switch defects

General Motors Co is adding 971,000 cars to its global ignition switch recall, which began in February with 1.6 million vehicles and has been linked to a dozen deaths.

GM said the recall is being expanded to include versions of the Chevrolet Cobalt, Chevrolet HHR, Pontiac G5, Pontiac Solstice and Pontiac Sky made during model years 2008-2011.

Older versions of those cars, dating back to 2003, were recalled in February, along with the Saturn Ion.

GM said the newer models were equipped with a redesigned ignition switch, but that some of those cars might have been repaired with older replacement parts that may be faulty.

GM also is recalling all the replacement ignition switches that have been sent to U.S. aftermarket distributors, the spare parts market.

Reuters reported this week that it was still possible to purchase GM brand ignition switches manufactured by Delphi Automotive carrying the same parts number as the product at the centre of the February recall.

These switches may not be defective, but it is nearly impossible to tell unless they are taken apart or the manufacturing history is checked.

A GM spokesman said "we're not taking any chances" that some of the newer cars could have ignitions that could be switched from "run" to "accessory," shutting down the engine and disabling the cars' power steering, power brakes and airbags.

GM had said on Thursday that the replacement ignition switch it has ordered from Delphi to use in the earlier recall will bear a new part number that "eliminates any potential confusion about which part to use in the repair," according to a company spokesman.

The spokesman on Friday said GM decided to recall all the replacement parts currently in stock at U.S. parts distributors "out of an abundance of caution."

GM said Friday that no deaths or injuries have been linked to faulty ignition switches in the newer models that have been added to the recall.

22.40 | 0 komentar | Read More

BlackBerry loses $423M in last quarter as revenue plunges

BlackBerry reported a steep drop in revenue and a widening loss as sales of its smartphones continue to slide.

The smartphone maker says it lost $423 million US in the fourth quarter of fiscal 2014, as revenue for the three-month period fell to $976 million — a 64 per cent decline from $2.68 billion a year earlier.

It's the first time since late 2007 that the company's quarterly revenue has dipped below $1 billion.

The smartphone maker said the loss amounted to 80 cents a share compared with a profit of $98 million or 19 cents per share a year ago.

But excluding several one-time items, BlackBerry said it had an adjusted loss from continuing operations of $42 million or eight cents per share for the quarter. That beat analyst expectations, which called for a per share loss of 57 cents.

Struggling smartphone maker BlackBerry said Friday that it lost $423 million in the fourth quarter. (Mark Blinch/Reuters)

At the start of trading on the Nasdaq, BlackBerry shares were up 3.6 per cent to $9.38 US, a 33 cent jump.

The smartphone maker reported $6.8 billion in revenue for the fiscal year, down 38 per cent from $11.1 billion in the previous year.

'[It's] very important that the market knows that we're here and we want to fight."'- John Chen, BlackBerry CEO

However, the company said its margins grew to 43 per cent, an increase from 34 per cent in the third quarter.

But sales of phones continued to slide. The company sold 3.4 million smartphones to customers in the fourth quarter, and of those 2.3 million phones were BlackBerry 7 devices, not the company's newer Z10, Z30 and Q10 devices.

BlackBerry sold just 1.1 million of its newer devices, lower than analyst expectations of 1.3 million.

Bold move

As a result of this, chief executive John Chen said in a conference call with investors that the company will restart production of the BlackBerry Bold, one of the company's most popular phones.

The phone, first introduced in 2011, will be re-released as "The Classic".

He says the devices will be aimed at "true BlackBerry loyalists", will be on sale by the end of the year, and will stay on sale as long as there's demand for it.

Since taking over the company's top job in November, Chen has been trying to boost the company's services and software divisions, reducing its reliance on selling phones.

Earlier this week, the company revealed its plan to make money using its BBM chat service, using advertising, sponsored promotions, and a new BBM Store that will sell digital goods.

The revenue breakdown for the quarter included about 37 per cent from hardware, 56 per cent for services and seven per cent for software and other revenue.

Looking to break even

In its outlook, BlackBerry says it is targeting break even cash flow results by the end of its 2015 financial year — next March. Over the past quarter, the company's cash reserves shrank by $500 million.

At the beginning of March, the company says, it had $2.7 billion US in cash on its books, down from $3.2 billion at the end of November.

Earlier this month, BlackBerry announced it would sell the majority of its Canadian real estate, which should bring a temporary cash infusion in June, when the sale is expected to close.

Faced with mounting losses and high costs, the company cut 4,500 jobs in September — 40 per cent of its workforce.

In November, Chen took over and quickly implemented a two-year turnaround plan.

In an interview with Amanda Lang on CBC's The Lang & O'Leary Exchange, Chen says he's committed to the turnaround.

"I hope you see that in the last few months, we've been very focused on trying to tell our story, talking to the press, doing media interviews," Chen said.

"Normally I shouldn't be doing this. But I figure this is very important that the market knows that we're here and we want to fight."

The full interview will run Friday at 7 p.m. ET on The Lang & O'Leary Exchange on CBC News Network.

In the conference call, Chen said the plan is on track, and may even be ahead of schedule. Use of cash for operational costs are down 30 per cent in the past quarter alone.

"The guy is on the move fast," said Colin Gillis, an analyst at BGC Partners. "He can control expenses, but you can't magically make revenue happen."

22.40 | 0 komentar | Read More

Inuit gather in Iqaluit for pro-sealing, anti-Ellen #sealfie

Five-year-old Igimaq Williamson Bathory in his seal skin jacket. (CBC)

About 30 people at the Four Corners in downtown Iqaluit dressed in their best sealskin clothes to shoot a "#sealfie."

At the Oscars, DeGeneres' selfie with a throng of celebrities became the most retweeted photo of all time. The tech company Samsung, which made the phone DeGeneres used to snap the pic, donated millions of dollars to a charity of her choice.

DeGeneres chose the Humane Society of the United States, which does not support seal hunting.

The website for the Ellen DeGeneres show calls sealing "one of the most atrocious and inhumane acts against animals allowed by any government."  

Two-year-old Riley Savikataaq shows of a one-piece seal skin snowsuit made by his great-great grandmother. (Emily Ridlington/CBC)

​Alethea Arnaquq-Baril is an Iqaluit filmmaker.

She's taken up the cause to help raise awareness in the media about the seal hunt from the Inuit point of view.

Her message to DeGeneres: "That we're big fans and I think we're on the same page and if she just took a little bit of effort to understand where we're coming from she might realize that Inuit are the ultimate animal rights activists and environmentalists and we need to find some common ground."

Arnaquq-Baril posted a "seal-fie" of herself on her Facebook page, in an effort to bring positive attention to indigenous seal hunting.

The idea for the group #sealfie came from Iqaluit resident, Nancy Mike, who plays with the Iqaluit band, the Jerry Cans.

Susan Savikataaq answered the call and explains why she attended the event: "To show off this beautiful seal skin amauti."

22.40 | 0 komentar | Read More

BlackBerry CEO John Chen on his turnaround strategy

John Chen has an enviable track record as a turnaround specialist for troubled tech companies. But the 58-year-old Hong Kong native knew he'd really have his work cut out for him when he assumed the role of CEO at BlackBerry, one of Canada's most iconic tech companies. That was five short months ago.

BlackBerry was in desperate shape at the time, shedding customers and losing billions as more aggressive and nimble smartphone companies helped themselves to a market share that was at one time so solid, it seemed to be a BlackBerry birthright. 

But how to engineer the turnaround? How even to stop the hemorrhaging?

In a wide-ranging and revealing interview with Amanda Lang, host of The Lang & O'Leary Exchange, Chen spelled out the rationale behind his customer-first repair strategy. 

To that end, Chen did a lot of listening to his core customers – the long-neglected business market (what's often referred to as the enterprise market). He tried to find out what they don't like and what they do. "If the customer likes it, it's the right thing to do," he says — a phrase that amounts to Chen's turnaround tagline. Discussions like that persuaded him to bring back some much-loved but abandoned features.

"I knew we'd have to stabilize the company and show some level of confidence," Chen says. "And the only way to do that is to tell your customers that you're here to stay; we're very focused on delivering better products, better services, going forward." 

'If the customer likes it, it's the right thing to do'- BlackBerry CEO John Chen

Chen knew his enterprise users were starting to worry.  Not to worry, was Chen's message back. "We're here to stay and there's a future plan of good technology and services."

But the CEO says his company's more than 60 million mobile subscribers aren't being forgotten in the rush.  "I don't want anybody to think that BlackBerry is walking away from the mass market. But in order to repair the company, especially on the financial side of the equation, I need to focus on the enterprise customer first."

Some analysts have speculated that Chen's cleanup, his aggressive cost-cutting, seems designed to pretty up BlackBerry's balance sheet for a possible sale. Maybe down the road, in "a number of years... ages... decades...", he told Lang, but not now, he insists.

"I have no interest in selling the company," Chen said. "Not at this point. I think the company has a lot of value. I'm interested in unlocking that value. I think the shareholder will not be as rewarded by selling at this point because our full value hasn't been realized."

Just watch us, seems to be Chen's message to the shareholders, the customers, the competitors, and especially the doubters.

Is it working? Chen thinks the doubters are starting to come around. "People are [saying]...maybe there's a chance it'll come back. All I ask for is that, to give us the opportunity to execute."

22.40 | 0 komentar | Read More

Mark Carney wanted orbiting Chris Hadfield at $5 polymer note unveil

Remember the Bank of Canada's unveiling event for the $5 and $10 polymer bank notes? The one where Canada's first commander of the International Space Station, Chris Hadfield, was beamed in live — floating $5 note and all?

New documents obtained by CBC News under the Access to Information Act reveal the decision to beam Hadfield in came from the very top of the Bank of Canada chain of command — then-governor Mark Carney himself. Carney was in his final months in the role before heading off to take the helm of the Bank of England.

"In recent conversations with the governor, he said that he would like to have Chris Hadfield's participation at the event. I believe you are of the same opinion," communications chief Jill Vardy wrote in an email dated Feb. 26, 2013.

"Remember that Hadfield has a $5 note in space and will be taping a short segment for us that was to be used for the issue event (not the unveil)."

At this point in time, both Hadfield and the new $5 note, which carries a depiction of the Canadarm2, was already circling the Earth onboard the ISS. According to email correspondence among Bank of Canada staff, the original plan was to air a taped video of Hadfield during the issue ceremony in Ottawa, scheduled for fall 2013. 

Astronaut Chris Hadfield, left, presents Bank of Canada governor Stephen Poloz with the $5 bill he took into space at a ceremony to officially issue the new $5 polymer note, which features the robotic Canadarm2 and Dextre on Nov. 7, 2013, in Longueuil, Que. (Ryan Remiorz/The Canadian Press)

The April unveiling event — only a few months away as of the February email — was meant to be "low-key, in a local school or the Garden Court, with the governor and minister of finance only."

A responding email sent on the same day agreed to explore the suggestion.

A communications staff member said he liked the Hadfield ideas and had raised the live feed idea with a co-worker "the week before last, who advised it was impossible."

"If something has changed, then we should try this or the taping. Either seems like a very topical approach given all the exposure Hadfield has been getting," reads the email. 

A meeting between senior staff and Carney was then arranged for March 6. 

On March 7, an internal Canadian Space Agency email, contained within another set of documents CBC News previously reported on, shows the change of plans.

"The [Bank of Canada] VIP really wants a LIVE event with Chris," the note read. 

There was brief consideration of the potential risk involved with the satellite downlink, due to a spacecraft launch to the ISS that was taking place around the same time. But five days later, the space agency appeared to have worked out the kinks.

Along with the possibility of a space debut, Bank of Canada staff floated the idea of having the CEO of Via Rail debut the $10 bill from a train (the bill features a Via Rail train journeying through the Rocky Mountains). That idea ultimately wasn't picked up. 

'Journalists' questions not wanted

The documents also reveal that promotional planning for the $5 and $10 polymer notes began even earlier than the February 2012 mark last reported.

An internally sent email dated Aug. 12, 2011, from a Bank of Canada staff member said he received a call from a Canadian Space Agency employee Fabienne Lebranchu.

"She's calling because she's heard that the new $5 note will feature the Canadarm on it. She said Chris Hatfield [sic] will go on a space mission in 2012 and she would like to see if there's any way he could bring the new note (or a prototype, if it's not available yet) with him on the mission," reads the email.

Canadian Space Agency spokesperson Julie Simard told CBC News that Lebranchu was not the originator of the idea, but was merely co-ordinating with the bank to take care of "the logistic behind the official flying kits." 

"What is not reflected in the documents you have, are the discussions and meetings that took place in both organizations prior to that specific phone call," Simard said in an email. 

At any rate, the nearly two years' worth of planning culminated in a highly scripted unveiling, which went off mostly without a hitch, save for then-finance minister Jim Flaherty finishing his speech early and having to bide time before the link with Hadfield went live. The event also included three contingency plans in case the satellite link went awry. 

The planning was so carefully planned, in fact, that Bank of Canada communications staff caught one big no-no in a draft of the script for the event photo-op.

"Please don't use the word 'photojournalists' as is in the script. Say something like 'photographers and videographers are now invited to a photo op (details here)... a reminder that this is a photo op only — the minister and governor will not be taking media questions during the photo op,'" reads an email.

"It won't stop reporters from asking but it will at least draw the line. Jeremy and Kathleen will both be there and can give you the signal to shorten the photo op if it gets too unruly."

Live broadcast 'even better than pre-recorded clip'

When reached for comment, Carney's current spokesperson at the Bank of England directed CBC News to the Bank of Canada, which confirmed Carney's intervention in the plans.

"The governor and other senior officials felt the event would be more appealing to media if Commander Hadfield unveiled the note from space while he was there," spokesperson Alexandre Deslongchamps wrote in an email to CBC News.

"This presented a unique and unprecedented opportunity to showcase Canada's contributions to space exploration. Following that line of thinking, it became clear that having a live broadcast from space — were it possible — would be even better than a pre-recorded clip."

Deslongchamps noted that a pre-recorded clip "wouldn't have attracted the same media attention, even if it would still be innovative."

He said the goal was to maximize media coverage in a cost-effective way. As CBC News reported in January, the live feed from the International Space Station alone cost just over $9,000.

"The Bank of Canada was able to create a compelling event for media and Canadians in general, thereby reaching its goals."

22.40 | 0 komentar | Read More

Credit card fees 'civil conspiracy', class action lawsuit says

A class action lawsuit alleging Canada's major banks and credit card companies are engaged in a "civil conspiracy" involving credit card fees, has been certified by the B.C. Supreme Court, allowing it to proceed.

The class action lawsuit  was filed by a Vancouver furniture retailer Mary Watson, who alleges the fees charged by 12 separate financial institutions, including Visa, Mastercard and Canada's big banks, "unlawfully interfered with the economic interests of merchants."

'On one particular day I counted 31 lawyers attending on behalf of their respective clients.'-B.C. Supreme Court Justice Robert Baumann

The suit says merchants are forced to accept every Visa or MasterCard presented by customers — including premium cards — even though merchants are charged much higher fees for those premium cards.

At the same time, merchants are not allowed to charge more for accepting them.

The lawsuit alleges that merchants are forced to raise prices for all customers to cover the cost of transactions with premium cards — fees that cost Canadian merchants billions each year.

In the court documents, Watson says she is seeking to recover the fees that the credit card companies and banks "have collected illegally from merchants."

The card companies charge a fee of 1.5 to three per cent of the total amount of the transaction each time a credit card is used. That can mean $15 in fees paid by the merchant when a customer charges a $500 purchase. The fee paid by a merchant for a debit transaction, on the other hand, is about 12 cents.

This lawsuit echoes arguments made by the Competition Bureau of Canada late last year, when it moved to strike down the rules companies impose on merchants that accept their credit cards.

The bureau said it was concerned the rules prohibit merchants from encouraging lower-cost forms of payment, such as debit and cash.

In her lawsuit, Mary Watson alleges financial institutions prohibit merchants from opting out of higher end credit cards that charge them hefty fees to pay for the big incentives they offer consumers. (CBC)

Under the current agreement, merchants cannot offer lower prices for non-credit card transactions.

In his 91-page decision certifying the class action lawsuit, B.C. Supreme court Chief Justice Robert Bauman dismissed the banks' claim that Watson hadn't demonstrated a "genuine controversy."

Bauman noted there have been several legal proceedings over credit card fees in Europe, Australia and the U.S.

"There certainly can be said to be a genuine controversy engaging the alleged anti-competitiveness of the 'Network Rules,' he wrote. "Indeed one might suggest, not cynically that the strength of the genuineness of the controversy joined by a plaintiff rises in direct proportion to the length of the defendant's submissions in these matters."

"On one particular day I counted 31 lawyers attending on behalf of their respective clients."

Last year in the U.S., Visa, MasterCard and the banks settled a similar class action lawsuit for $7 billion in what was described as the largest class action settlement in U.S. history.

Some major U.S. retailers including Target Corp. and Macy's Inc. pulled out of the out-of-court settlement saying it didn't pay them enough. They argued they were owed, and could get even more.

22.40 | 0 komentar | Read More

Unpaid internship crackdown won't ease young jobseekers' suffering

For labour-rights crusaders seeking to protect Canadian youth from being exploited, it was a victory. For some unpaid keeners grateful for a chance to pad their resumes in a grim job market, it was a shame.

Either way, students say they'll continue to suffer even after Thursday's crackdown against unpaid internships by the Ontario Ministry of Labour — action that led to the shuttering of two internship programs at the popular Canadian magazines Toronto Life and The Walrus.

Unpaid internships in Ontario

There are a 6 conditions that must be met in order for an unpaid internship not to be in breach of Ontario's Employment Standards Act:

1. The training is similar to that which is given in a vocational school.
2. The training is for the benefit of the intern. You receive some benefit from the training, such as new knowledge or skills.
3. The employer derives little, if any, benefit from the activity of the intern while he or she is being trained.
4. Your training doesn't take someone else's job.
5. Your employer isn't promising you a job at the end of your training.
6. You have been told that you will not be paid for your time.

— Source: Ontario Ministry of Labour

"At the end of the day, it's we who lose," said Alex, a retail management student at Toronto's Ryerson University who didn't want his last name published because he is still applying for jobs in the fashion industry.

"Just saying 'We have to scrap [unpaid internship programs] right away,' that's acting on emotion. It doesn't help."

The 30-year-old has interned for free as an assistant to a tailor and also worked unpaid for six months helping to run the Canadian branch of a luxury Italian fashion house.

Both were valuable learning experiences for the aspiring supply chain manager.

"But the only reason I could take them was because I had supplementary income. I live with my family, so it wasn't like I wasn't getting any financial support," he said.

That's part of the problem with the unpaid internship structure, according to Andrew Langille, a labour lawyer who runs the workplace law website YouthandWork.com.

Raise glass ceiling

Langille hailed the ministry's announcement and pledge to launch an inspection "blitz" against other industries with unpaid internship programs. He said the internships raise another "glass ceiling."

He rejected arguments from those who say that the setup is fair because the worker and the company agree to the provision of free labour.

"People ask what's the harm?" Langille said. "Well, it cuts out people who can't afford to do unpaid internships; it can [favour] people based on their socioeconomic class. It erodes any notion of meritocracy."

Second-year business student John Liu said he was encouraged to see the ministry of labour taking action on the matter. But he said he expects things to remain bleak for the current generation desperate to enter the workforce.

Claire Seaborn, president of the Canadian Intern Association, which advocates against the exploitation of interns, poses with NDP MP Andrew Cash. Seaborn was one of six witnesses called to a House of Commons Standing Committee on Finance, where she was asked about unpaid internships. (Courtesy Andrew Attfield)

In his first year at York University, Liu, 19, worked once a week for six months at a Canadian brokerage firm, shadowing a company director and helping with filing and researching client portfolios.

"I still think ultimately, work is work, and in our day and age, there are no jobs," he said at a Ryerson campus café.

"Personally, I think if the work is good, unpaid is totally justified. It can be a very fair opportunity. My resume says 'internship.' Nobody ever asks me 'was it paid?' They just want to know what did you do?"

Lauren Chapman and Chelsea Kostrey, first-year fashion communications students at Ryerson, are required to log 400 internship hours over the course of their four-year program.  Both students have considered pursuing unpaid internships, but they worry about companies in their industry closing internship programs to avoid breaching labour rules that are now being enforced.

'It still sucks'

''Personally, I think if the work is good, unpaid is totally justified'- John Liu, second-year business student

"It still sucks. I just don't think the same amount of people will hire the same amount of people," Chapman said. "We want the experience in the industry, but now it's like it would just be a bonus if we could get paid."

That's become an accepted norm that Claire Seaborn, president of the Canadian Intern Association, is hoping will change. She's optimistic that Ontario's clampdown on violations against the province's Employment Standards Act could have a ripple effect.

"British Columbia's laws are already very strong. I'm cautiously optimistic they'll follow Ontario's lead and put some more enforcement into this," the 25-year-old University of Ottawa law student said.

John Liu, a 19-year-old business student, interned unpaid once a week for six months last year. He found the experience rewarding and said unpaid opportunities are sometimes necessary, particularly in a bleak youth labour market. (Matt Kwong/CBC)

Seaborn, who completed two unpaid internships herself, understands the concerns of young people desperate for any opportunity to get a foothold in the labour market.

"I can see why somebody would choose to take an unpaid internship, which is why we don't discourage them from taking them," she said. "We discourage the companies from offering them because the burden should be on the employers…to enforce the laws."

Rather than "stomping their feet" and all-out disbanding their internship programs, Seaborn said Toronto Life and The Walrus could simply satisfy the Employment Standards Act by offering minimum wage.

"How much does it really cost to pay five interns the minimum wage? It's not an expensive endeavour, if you wanted to do the math on how much senior staff make," she said.

Josh Mandryk, the 25-year-old co-chair of a Toronto organization called Students Against Unpaid Internship Scams, agrees that "proactive enforcement" could eventually change how companies structure their internship programs. Mandryk foresees more unpaid interns becoming emboldened to file grievances with the government to recoup wages they feel they deserve.

"I imagine some of these folks will be filing complaints now that this announcement has been made, and there's some good basis for it," Mandryk said.

The Ontario Ministry of Labour said in a statement Thursday that its inspections of magazine companies are ongoing, and that "pending any appeal, the workers involved have to be paid."

Full disclosure from CBC:

• CBC News has an unpaid internship program that runs for six weeks.
• Our program was established with the support of the Canadian Media Guild union.​
• Interns must be recommended by the journalism schools with which we have a relationship. Only a limited number of interns are considered and accepted.
• Internships are closely supervised and structured as a valuable learning opportunity.

22.40 | 0 komentar | Read More

BlackBerry loses $423 million in Q4 as revenue plunges

BlackBerry reported a steep drop in revenue and a widening loss as sales of its smartphones continue to slide.

The smartphone maker says it lost $423 million US in the fourth quarter of fiscal 2014, as revenue for the three-month period fell to $976 million — a 64 per cent decline from $2.68 billion a year earlier.

It's the first time since late 2007 that the company's quarterly revenue has dipped below $1 billion.

The smartphone maker said the loss amounted to 80 cents a share compared with a profit of $98 million or 19 cents per share a year ago.

But excluding several one-time items, BlackBerry said it had an adjusted loss from continuing operations of $42 million or eight cents per share for the quarter. That beat analyst expectations, which called for a per share loss of 57 cents.

At the start of trading on the Nasdaq, BlackBerry shares were up 3.6 per cent to $9.38 US, a 33 cent jump.

The smartphone maker reported $6.8 billion in revenue for the fiscal year, down 38 per cent from $11.1 billion in the previous year.

'[It's] very important that the market knows that we're here and we want to fight."'- John Chen, BlackBerry CEO

However, the company said its margins grew to 43 per cent, an increase from 34 per cent in the third quarter.

But sales of phones continued to slide. The company sold 3.4 million smartphones to customers in the fourth quarter, and of those 2.3 million phones were BlackBerry 7 devices, not the company's newer Z10, Z30 and Q10 devices.

BlackBerry sold just 1.1 million of its newer devices, lower than analyst expectations of 1.3 million.

Bold move

As a result of this, chief executive John Chen said in a conference call with investors that the company will restart production of the BlackBerry Bold, one of the company's most popular phones.

The phone, first introduced in 2011, will be re-released as "The Classic".

He says the devices will be aimed at "true BlackBerry loyalists", will be on sale by the end of the year, and will stay on sale as long as there's demand for it.

Since taking over the company's top job in November, Chen has been trying to boost the company's services and software divisions, reducing its reliance on selling phones.

Earlier this week, the company revealed its plan to make money using its BBM chat service, using advertising, sponsored promotions, and a new BBM Store that will sell digital goods.

The revenue breakdown for the quarter included about 37 per cent from hardware, 56 per cent for services and seven per cent for software and other revenue.

Looking to break even

In its outlook, BlackBerry says it is targeting break even cash flow results by the end of its 2015 financial year — next March. Over the past quarter, the company's cash reserves shrank by $500 million.

At the beginning of March, the company says, it had $2.7 billion US in cash on its books, down from $3.2 billion at the end of November.

Earlier this month, BlackBerry announced it would sell the majority of its Canadian real estate, which should bring a temporary cash infusion in June, when the sale is expected to close.

Faced with mounting losses and high costs, the company cut 4,500 jobs in September — 40 per cent of its workforce.

In November, Chen took over and quickly implemented a two-year turnaround plan.

In an interview with Amanda Lang on CBC's The Lang & O'Leary Exchange, Chen says he's committed to the turnaround.

"I hope you see that in the last few months, we've been very focused on trying to tell our story, talking to the press, doing media interviews," Chen said.

"Normally I shouldn't be doing this. But I figure this is very important that the market knows that we're here and we want to fight."

The full interview will run Friday at 7 p.m. ET on The Lang & O'Leary Exchange on CBC News Network.

In the conference call, Chen said the plan is on track, and may even be ahead of schedule. Use of cash for operational costs are down 30 per cent in the past quarter alone.

"The guy is on the move fast," said Colin Gillis, an analyst at BGC Partners. "He can control expenses, but you can't magically make revenue happen."

22.40 | 0 komentar | Read More

CP Rail boss Hunter Harrison blasts grain backlog legislation

Canadian Pacific Railway is blasting the federal government's attempt to legislate a solution to the grain transportation backlog as unfair and potentially harmful to the economy.

Legislation introduced this week will do nothing to boost capacity in the grain handling system and could even damage the Canadian rail transportation system, said Hunter Harrison, chief executive of Calgary-based CP in a statement on the company's website.  

"We are very concerned about the speed and lack of consultation by the government in making such significant changes to the rail transportation system that could result in unintended consequences for all stakeholders," Harrison said.

The Prairies had a record fall harvest last year, but much of it hasn't been shipped to market because of a transportation bottleneck, prompting farmers to demand Ottawa force the railways to move it faster.

Agriculture Minister Gerry Ritz tabled a bill Wednesday that would see the Canadian Grain Commission regulate how much a grain company pays a farmer if the company doesn't meet contracted delivery dates.

Harrison said it's easy to blame the railways, but it ignores the facts.

"Canada's grain handling system is just not built to handle this record amount of grain," he said, adding that an extremely cold winter has made the job even more challenging.

"Targeting the railways when our dedicated men and women are working 24/7 to recover from some of the harshest winter operating conditions ever seen, is not only ineffective but grossly unfair."

Ottawa is also amending what are called inter-switching limits from 30 kilometres to 160 kilometres in Alberta, Manitoba and Saskatchewan — adding more competition among railways to service grain elevators.

But Harrison warns that increasing inter-switching will harm Canadian competitiveness and put jobs at risk by transferring traffic to U.S. railroads and ports.

"We need to move away from reactionary legislative interventions that target unfairly one participant and potentially damage the Canadian economy.  Instead we should all focus on commercial solutions to maximize overall capacity in the grain supply chain," Harrison said. 

22.40 | 0 komentar | Read More

U.S. closes investigation into Tesla electric car fires

New

The Associated Press Posted: Mar 28, 2014 11:16 AM ET Last Updated: Mar 28, 2014 11:16 AM ET

The U.S. government's auto safety watchdog has closed an investigation into Tesla electric car battery fires after the company agreed to install more shields beneath the cars.

Tesla says the shields will prevent roadway debris from damaging batteries and possibly causing fires.

The company will retrofit Model S cars sold in the U.S. with the new shields. It has sold about 22,000 through February.

The National Highway Traffic Safety Administration says the shields and raising the ride height should reduce underbody damage and fire risk. Tesla says the action is not a recall.

The company says it will add an aluminum bar, a titanium plate and another piece of aluminum. The shields are designed to ward off the type of debris that caused fires in two cars last year.

22.40 | 0 komentar | Read More

BMO slashes 5-year mortgage rate to 2.99%

The Bank of Montreal is slashing its five-year fixed-rate mortgage to levels that caused former finance minister Jim Flaherty to express concerns last year. The bank says it will offer a five-year rate of 2.99 per cent, down from 3.49 per cent.

BMO is the first big bank to lower its key five-year rate below the three per cent threshold. In March 2013, BMO dropped its mortgage rate below that level, causing Flaherty to publicly address the bank, saying that he disapproved of the rate and discouraged other big banks from following its lead.

At the time, he said he believed in "responsible lending," and that he was concerned such low rates would work against his attempts to slow the momentum in the housing market.

Flaherty resigned from his role as finance minister in a surprise announcement last week. He was replaced by Joe Oliver.

"Our government has taken action in the past to reduce consumer indebtedness and the government's exposure to the housing market," Oliver said in an emailed statement. "I will continue to monitor the market closely.​"

BMO has slashed its five-year fixed-rate mortgage to below three per cent, levels that former finance minister Jim Flaherty had raised concerns about last year. (CBC)

BMO spokesman Paul Deegan in an emailed statement: "This rate change is driven solely by the fact that bond yields have fallen, and we are in what has traditionally been the busiest season for buying a home."

Longer-term mortgage rates tend to follow bond yields and those yields have been falling recently. The Bank of Canada benchmark five-year bond yield, for instance, was at 1.69 per cent on Wednesday. Just three months ago, the yield was 1.97 per cent.   

Other Canadian banks have also recently cut their rates. Toronto-Dominion Bank reduced its four-year fixed-rate mortgage to 2.97 per cent earlier this month, while Scotiabank lowered its rates across the board while issuing a four-year special rate at 2.94 per cent.

The move by BMO puts it in line with rates from Meridian Credit Union, which lowered its five-year fixed-rate mortgage to 2.99 per cent in February. Meridian is the largest credit union in Ontario.

Some mortgage brokers are also advertising five-year fixed rates below three per cent from other lenders.

These cuts to rates come on the heels of reports from RBC and the Conference Board of Canada saying that mortgage rates are set to rise this year.

22.40 | 0 komentar | Read More

IMF offers Ukraine $18B US in loans in bid to stem economic collapse

The International Monetary Fund on Thursday promised to loan between $14 billion US and $18 billion US to Ukraine's fledgling government, which is struggling to keep the country's economy afloat amid mounting debts.

Ukraine had faced three months of anti-government protest when President Viktor Yanukovych fled the country late February. Its economy teetering on collapse, Ukraine was pushed closer to the edge with Russia's takeover of the Crimean Peninsula and Moscow's multi-billion dollar bill for gas deliveries.

Prime Minister Arseny Yatsenyuk told the parliament on Thursday that the country is "on the brink of the economic and financial bankruptcy" and that its economy could drop 10 per cent this year unless urgent steps are taken.

But the reforms his new government agreed to in exchange for the loans will hit households hard. That could severely diminish the new government's popularity at a time when it is struggling to establish itself in Kyiv and has already lost territory to Russian forces.

Tymoshenko to run for president

Also on Thursday, former Ukrainian prime minister Yulia Tymoshenko, one of her country's most polarizing political figures, announced she will run for presidential elections set for May 25.

Tymoshenko, who was released from jail last month following the overthrow of Yanukovcyh, her long-time political rival, said she would stand to protect the unity of Ukraine.

Yulia Tymoshenko came to international prominence in the 2004-05 Orange Revolution, which culminated with the overturning of a widely criticized election that had given Viktor Yanukovcyh victory.

This will be her second attempt to secure the presidency. She narrowly lost to Yanukovcyh in 2010."I will be the candidate of Ukrainian unity," Tymoshenko said. "The west and centre of Ukraine has always voted for me, but I was born in the east, in Dnipropetrovsk."

Her renewed ascent to the forefront of public life marks the return of the most divisive figures in Ukraine's political scene. She is variously admired as an icon of democracy and detested as a self-promoting manipulator with a shady past.

With herb blond braids and telegenic smile, Tymoshenko came to international prominence in the 2004-05 Orange Revolution, which culminated with the overturning of a widely criticized election that had given Yanukovcyh victory.

A re-run of the election handed the presidency to her political ally Viktor Yushchenko, under whom she served as prime minister. Amid broad disappointment at that government's performance, Yanukovcyh was again elected in 2010.

Tymoshenko said that she would not squander voters' trust this time around.

"I will do everything to ensure that our second European revolution does not lead to distrust, depression and disappointment," she said. "I will everyday work to earn the trust that is afforded to me by the people."

Western support could reach $27B

Tymoshenko is the best known of an array of new candidates in a race left wide open by Ukraine's political upheaval, ranging from former heavyweight boxer Vitaliy Klitschko to politicians who have their political base in eastern provinces.

The election campaign is taking place against the backdrop of dismal economic conditions, Russia's annexation of Crimea and rumblings of discontent in the country's mainly Russian-speaking eastern provinces.

The IMF said on Thursday that Ukraine's recent economic policies have drastically slowed growth and brought foreign currency reserves to a "critically low level."

After two weeks of talks in Kyiv, the IMF said the precise amount would be determined once Ukrainian authorities offered more precision on their needs and it was clear what other aid the country would receive. It mentioned, however, that the "support from the broader international community" could be as high as $27 billion.

The IMF loan hinges on structural reforms that Ukraine has pledged to undertake. The IMF said the reforms will include maintaining a flexible exchange rate and reforming the energy sector to make it profitable, all of them potentially painful for the majority of the population.

Russia is raising natural gas prices for Ukraine, and the households in Ukraine should expect their gas bills to rise by 50 per cent in May, Ukrainian officials said.

22.40 | 0 komentar | Read More

Ontario, First Nations ink framework deal on Ring of Fire region

The Canadian Press Posted: Mar 27, 2014 8:30 AM ET Last Updated: Mar 27, 2014 8:30 AM ET

The Ontario government says the signing of a framework agreement with First Nations in the mineral-rich Ring of Fire region is an important "first step" that will ensure they benefit from the proposed mineral development.

The province says the plan with the nine Matawa-member First Nations allows the two sides to move forward with a negotiation process on a "community-based approach" to developing the mining project in northern Ontario.

It adds that the plan will allow the First Nations and province to jointly work on priorities including environmental monitoring, resource revenue sharing and infrastructure.

Noront Resources Ltd., which has a proposed Ring of Fire project, hailed the agreement as "essential" for allowing the massive resource development to move ahead swiftly.

The Ontario Chamber of Commerce says the Ring of Fire could generate $25 billion in new economic activity over the next 30 years, with $9.4 billion over the next decade alone, and billions funnelled to federal, Ontario and municipal governments.

Ontario's Liberal government has sparred with Ottawa over funding for infrastructure in the region after there was no mention of the Ring of Fire in the recent federal budget.

Comments on this story are moderated according to our Submission Guidelines. Comments are welcome while open. We reserve the right to close comments at any time.

Submission Policy

Note: The CBC does not necessarily endorse any of the views posted. By submitting your comments, you acknowledge that CBC has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that comments are moderated and published according to our submission guidelines.

22.40 | 0 komentar | Read More

Lululemon says it is 'humbled' by missteps, looks to grow

Lululemon says its profit held steady during the all-important holiday season. (Jonathan Hayward/The Canadian Press)

Lululemon Athletica Inc. said Thursday it had been humbled by recent missteps and would look to grow and strengthen going forward, after reporting steady profits for the fourth quarter.

"As we move into 2014, we are reflecting on our learnings with humility, and are entirely focused on our future," said chief executive Laurent Potdevin.

"2014 is an investment year with an emphasis on strengthening our foundation, reigniting our product engine, and accelerating sustainable and controlled global expansion."

The Vancouver-based company, which is known for its yoga wear, reported net income of $109.7 million in the 13 weeks ended Feb. 2, compared to profits of $109.4 million in the same period a year earlier, which included an additional week.

Revenue increased seven per cent to $521 million from $485.5 million.

Earnings per share was steady at 75 cents, beating analyst expectations of its revised guidance by three cents, according to data compiled by Thomson Reuters.

Lululemon unexpectedly lowered its fourth-quarter profit outlook in January, pulling back its diluted earnings per share forecast by seven cents to a range of 71 to 73 cents per share.

The company had warned that while it was on track to deliver on its sales and earnings guidance through December, it had seen traffic and sales trends "decelerate meaningfully" since the beginning of January.

In addition to headwinds facing all retailers, Lululemon has also had to grapple with the fallout of several specific setbacks, including its handling of a problem with its black Luon pants, the fabric of which was sometimes so thin that the pants were see-through. Even after the company moved to fix the problem, new complaints emerged about the quality and durability of the pricey workout gear.

Founder Chip Wilson also triggered severe backlash after suggesting to Bloomberg TV in November that Lululemon's yoga pants didn't fit well on some women. He later posted a video message online taking responsibility "for all that has occurred" and said he would step aside as chairman of the board but remain a director of the company.

Analysts have expressed concern over how long the company's troubles would last, and suggested the days of Lululemon being known as the stock that could do no wrong may be behind it.

But on Thursday, Potdevin emphasized the company's distinct culture and the value of its "technical beautiful product," saying it will leverage those strengths to improve its relationship to customers.

"The emotional connection that Lululemon creates is at the heart of what we stand for, and we are being relentless in our commitment to delivering a distinct and authentic experience that is unlike any other."

Going forward, Lululemon said it expected net revenue to be in the range of $377 million to $382 million for the first quarter of 2014, based on flat total combined comparable sales. Earnings per share are expected to be in the range of 31 cents to 33 cents.

For the 2014 financial year, the company said it expects net revenue to be in the range of $1.77 billion to $1.82 billion based, while diluted earnings per share are expected to be in the range of $1.80 to $1.90 for the full year.

Shares of the company were down four cents to $48.19 in premarket trading in New York.

22.40 | 0 komentar | Read More

U.S. Q4 growth revised higher

The U.S. economy grew at a 2.6 per cent annual rate in the October-December quarter, slightly more than previously estimated, as consumer spending rose at the fastest pace in three years.

The fourth-quarter growth rate was a bit stronger than the 2.4 per cent estimate made last month, the Commerce Department reported Thursday. The revision reflected stronger consumer spending, which rose at an annual rate of 3.3 per cent — its best quarterly pace since 2010.

Even with the upward revision, growth in the overall economy slowed from a 4.1 per cent pace in the July-September quarter. Analysts think growth has slowed even more in the current January-March period to around a 2 per cent annual rate. A harsh winter has disrupted factory production and kept people away from shopping malls.

But once warmer weather appears, analysts are looking for a rebound in economic activity with consumer spending expected to be helped by pent-up demand from purchases that were deferred during the bad weather.

Many economists are forecasting that growth for the entire year will hit three per cent. If that forecast proves accurate, it would make growth this year the strongest since 2005, two years before the nation plunged into the worst recession since the 1930s.

Since the recession ended in June 2009, the economy has struggled to gain momentum and the weak growth has made it harder for people who lost jobs during the downturn to find work.

The report Thursday on overall economic growth as measured by the gross domestic product was the government's third and final look at the fourth quarter GDP.

For all of 2013, the economy grew at a lacklustre 1.9 per cent after growth of 2.8 per cent in 2012. Growth was held back last year by higher federal taxes and government spending cuts enacted to combat soaring budget deficits. Economists estimate that the squeeze from the government subtracted about 1.5 percentage points from growth.

The upward revision in activity in the fourth quarter came in part from additional spending in such areas as health care. Spending on services increased by the most since the spring of 2005.

Business investments on structures and equipment grew at a 5.7 per cent annual rate, slower than previously estimated but still up from a 4.8 per cent increase in the third quarter.

The drag from cutbacks in government activity continued with government spending falling at a 5.2 per cent rate in the fourth quarter, reflecting reductions in defence and non-defence spending at the federal level. Spending by state and local governments was unchanged, an improvement from a previous estimate which showed state and local spending still falling.

Federal Reserve Chair Janet Yellen said after a Fed meeting last week that the central bank still expects the economy to strengthen this year, which would help put more people to work.

At that meeting, the Fed decided to reduce its monthly bond purchases by another $10 billion, the third such reduction since December. That puts the bond purchases, which are intended to keep long-term loan rates low to encourage spending and growth, at $55 billion.

Many economists think that as long as the economy keeps improving, the Fed will keep cutting the bond purchases by $10 billion at each meeting this year until ending the program entirely in December.

22.40 | 0 komentar | Read More

Lost smartphones usually probed for private data

The odds of having a lost cellphone returned are just a little better than 50/50, while the chances of it being probed by its finder are close to 100 per cent, according to the results of an experiment conducted in six Canadian cities.

Security software company Symantec dropped 10 phones each in Calgary, Halifax, Montreal, Ottawa, Toronto and Vancouver and waited to see if they would be returned.

Stefano Tiranardi, an information protection specialist with Symantec Canada, says he's disappointed by the results of the experiment.Each phone was preloaded with icons for phoney apps designed to tempt the finders into tapping on them. Tracking software recorded what they couldn't resist peeking at.

"I was surprised at the higher-than-expected numbers," Tiranardi says.

"Really, individuals who misplace a phone or have it stolen have absolutely no hope their private information will remain private."

'Really, individuals who misplace a phone or have it stolen have absolutely no hope their private information will remain private.'- Stefano Tiranardi, Symantec Canada

Of the 60 phones in the test, 55 per cent of them were picked up by someone who attempted to return the device.

Twenty-seven phones were grabbed and never returned — and they weren't even flashy high-end smartphones. Symantec used older Google Android phones for the experiment.

Among the questions that Symantec wanted to answer with the study was how persistent people would be in poking around a found phone.

The answer was very.

One phone dropped at a Calgary bus stop was found by an honourable person eager to return it. But while waiting to establish contact with the rightful owner, that person did some extensive snooping.

The phone was picked up just 25 minutes after being dropped and right away an app labelled Contacts and another with the name Social Networking were tapped. Nine minutes later, a HR Salaries app was opened.

Soon after, an email was sent to an address labelled as "Me" in the Contacts app with an offer to return the phone.

And the peeping continued.

About half an hour later, a Passwords app was accessed. Then, after another hour had passed, Social Networking and Online Banking apps were tapped.

A few days elapsed without the phone being used. When it was plugged in to recharge, several more apps were accessed and the following day, there was more digging into the contents of the phone.

That storyline wasn't unusual.

Ninety-three per cent of the phones were accessed in some way by the people who found them.

Social networking and corporate-related apps were tapped on about two-thirds of the phones, while passwords, photos and emails apps were launched on half of the devices. An online banking app was accessed on one in three phones.

While it appeared to researchers that seven per cent of the phones were not accessed in any way, that might not be the case.

Tiranardi says the tracking of taps was based on the phone's mobile data connection and it's likely that one of two scenarios played out.

It's possible the phones were taken to a lost and found and were turned off or remained untouched until their batteries died.

Or the SIM cards from the phones could have been yanked immediately after they were found, which would have cut off the signal back to the researchers.

"Somebody who picked it up could have figured, 'I'm selling this on eBay ... I'm going to go home, factory reset and try to wipe it and get rid of the phone,"' Tiranardi says.

Click the graphic below to enlarge it.

Here's what happened to Phone #32, which was "lost" in Calgary. It was one of 60 phones dropped off in six cities across Canada as part of the experiment. (Canadian Press)

22.40 | 0 komentar | Read More

Google Glass partners with Ray-Ban maker Luxottica

Luxottica, the maker of Ray-Ban sunglasses, has struck a deal to design, develop and distribute glasses based on Google's Internet-connected Glass eyewear, potentially bringing the new technology to a wider market.

Google Glass is a small stamp-sized screen attached to a pair of spectacle frames. It can record video, access email, and retrieve information from the web by connecting wirelessly to a user's cell phone.

Italy's Luxottica said on Tuesday its two major brands, Ray-Ban and Oakley, would be part of the deal, but gave no financial or other details.

"We believe that a strategic partnership with a leading player like Google is the ideal platform for developing a new way forward in our industry and answering the evolving needs of consumers on a global scale," Luxottica Chief Executive Officer Andrea Guerra said.

Guerra told la Repubblica newspaper that the new glasses would be ready to hit the market in 2015.

Google Glass unveiled its first sunglass and prescription frames options in January, including these "Classic" sunglass frames. (John Minchillo/Associated Press)

Many technology experts believe wearable computers such as Google Glass will be the next big market for consumer devices, and could mirror the way smartphones evolved from personal computers.

However, some express concern over issues such as privacy intrusion, data security and the safety of wearing internet-connected glasses while performing other tasks.

At 0805 GMT, Luxottica shares were up 3 percent at 40.15 euros, compared with a 0.9 percent rise in Italy's benchmark stock index.

22.40 | 0 komentar | Read More

Ukraine in talks with IMF for $15-20B loan package

Finance minister expects Ukraine's economy to shrink by 3 per cent this year

Thomson Reuters Posted: Mar 25, 2014 9:47 AM ET Last Updated: Mar 25, 2014 9:47 AM ET

Ukraine, its economy seriously weakened by months of political turmoil and mismanagement, is negotiating with the International Monetary Fund for a loan package of $15-20 billion, its finance minister said on Tuesday.

The minister, Oleksander Shlapak, speaking to reporters before a government meeting, said the ministry foresaw continued slowdown and stagnation in the economy with it contracting by 3 per cent in 2014.

Referring to talks now going on with the IMF, he said: "We are successfully heading towards concluding a programme. I think we shall receive (what we seek). This sum is from 15 to 20 billion dollars."

22.40 | 0 komentar | Read More

Vancouver port truckers strike endangering meat exports

B.C.'s meat producers say the container truckers strike at Port Metro Vancouver is killing export sales and they are worried they'll lose international clients for good if the strike does not end soon.

Roughly half of Canadian beef and pork products end up in Asian markets, but right now most of the export trade has been halted by the strike.            

Ron Davidson, the director of international trade at the Canadian Meat Council, says roughly $30 million of meat products move through the port every week.

"Meat processing is the largest food processing sector in Canada," says Davidson

But unless the dispute ends soon, he worries buyers in China, Japan and South Korea will simply find other suppliers.

"They have to keep their shelves or their factories stocked in their countries, and if we can't supply, they have no choice but to go elsewhere."

The B.C. government tabled back-to-work legislation aimed at about 250 unionized truckers on Monday, but Unifor spokesman Gavin McGarrigle says the union members will remain defiant even when that bill passes through the legislature.

"They don't have any money and if they'll get fines and can't pay the fines, they're prepared to risk jail time," said McGarrigle.

More than 1,000 non-unionized truck drivers first began the job action in late February. They were joined by the union on March 10. Both groups are demanding better wages and shorter wait times at the port.

Last week, the port threatened not to renew the licences of drivers who did not return to work immediately — and Port Metro Vancouver says container truck volumes have since rebounded to 40 per cent of normal operations.

22.40 | 0 komentar | Read More