Canada Stocks- Tsx Drops As U.s. Gridlock Drags On
Canada’s Minister of Labour urges vigilance during the launch of Fire Prevention Week
The focus of the market remained the U.S. government shutdown, which highlighted the political gridlock in Washington over the debt crisis and the uncertainty investors are facing as no immediate resolution seemed in sight. “Who knows what’s going to happen or how long it’s going to drag out,” said Sal Masionis, stockbroker at Brant Securities. “You just stay away and do nothing, and have a little cash on the side.” Investor confidence in Canada and the United States has taken a beating, he said, adding that the uncertainty could drag on until the end of the month. Volumes on the benchmark Canadian index were sluggish. About 56 million shares changed hands on Thursday at mid-morning, compared with an average daily volume of 304 million shares in September, according to market operator TMX Group. The Toronto Stock Exchange’s S&P/TSX composite index was down 49.74 points, or 0.39 percent, at 12,789.26. The TSX could lose ground before the end of the year due to the U.S. debt and budget troubles, Masionis said. Eight of the 10 main sectors on the index were in the red on Thursday. Suncor Energy Inc lost 1.1 percent to C$36.40 and had the biggest negative influence on the market.
We need to get the Canadian business community behind this and we are nowhere near that yet.” The scale of the problem facing those who see much of Canada’s future prosperity tied to trade with Asia could be seen in an Asia Pacific Foundation poll conducted earlier this year. The Angus Reid survey found that fewer Canadians regarded their country as part of the Asia Pacific region previously. Canadians also said that they saw less need to conclude free trade agreements with Asian countries than they had in the past. As an example of how Canada’s profile is diminishing, rather than rising, Paul Evans cited the fact that although trade with Asia has increased in recent years, as a percentage of overall trade it is half of what it was a decade ago. Canada has a much larger economy than Australia, but has not yet closed a trade agreement with any Asian country. Australia has eight of them. Parts of Australia are, of course, on Asia’s doorstep and its economic future is almost entirely dependent on trade with Asia. Canada, on the other hand, has a much more diversified economy and more diverse trade partners. “What has struck me when you talk with Australians is the fact that while they are far ahead of us, they are still unsure of their role and whether they are taking the right approaches,” said Edwards, who with Hampson has been studying ways Australia and Canada can co-operate in Asia. “If we as a country are tentative about Asia, we can take some heart from the fact that Australia feels the same way.” It is a cruel irony that one of the reasons that Canada makes a fairly big deal out of the annual Asia-Pacific Economic Cooperation summit, which starts in Bali, Indonesia, on Monday, is that it is the only Asian organization of which Canada is part. While the prime ministers of Australia and New Zealand will leave Bali for nearby Brunei, where they will join Barack Obama and Vladimir Putin for the arguably more significant Far East Summit run by the Association of South East Asian Nations, Harper will fly directly home. But all is far from lost.
For the First Time in Canada: Starbucks® to Offer Fairtrade Brewed and Espresso Beverages at Simon Fraser University
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Canada has ‘lot of catching up to do’ in Asia
“We apply very high standards to sourcing and purchasing all our coffee,” says Roger Aube , director of Licensed Stores for Starbucks Canada, “All our stores offer C.A.F.E. Practices verified espresso, and over 93% of our coffee is third-party certified or verified through C.A.F.E. Practices, Fairtrade or certified organic.” “SFU is extremely pleased with Starbucks’ commitment to providing more Fairtrade coffees to our campus community,” says Mark McLaughlin , Executive Director of Ancillary Services at SFU. “For the past year, SFU has been working alongside the University of British Columbia , Engineers Without Borders, and Fairtrade Vancouver to encourage major coffee companies to enhance their Fairtrade options for our students, and this is a step in the right direction.” Customer demand for Fairtrade certified coffees appears to be strongest on college and university campuses. Starbucks is uniquely positioned to meet this specific need, given its availability of Fairtrade certified coffees and its increased presence on college and university campuses across the country. There are no firm expansion plans to other universities or stores at the moment, although all stores already offer C.A.F.E. Practices verified espresso,and numerous universities and colleges across Canada already offer Starbucks Fairtrade certified brewed coffee. About Starbucks Corporation Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest-quality arabica coffee. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at www.Starbucks.ca . About Simon Fraser University Simon Fraser University is Canada’s top-ranked comprehensive university and one of the top 50 universities in the world under 50 years old. With campuses in Vancouver , Burnaby and Surrey, B.C. , SFU engages actively with the community in its research and teaching, delivers almost 150 programs to more than 30,000 students, and has more than 120,000 alumni in 130 countries. In 2012, SFU was designated as a Fairtrade Campus ( www.sfu.ca/fairtrade ). SOURCE Starbucks Coffee Canada Starbucks Coffee Canada (CNW Group/Starbucks Coffee Canada) Image with caption: “Simon Fraser University (CNW Group/Starbucks Coffee Canada)”.