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Canadians spend economy to 3.1 per cent annualized pace in second quarter

OTTAWA — With last winter’s harsh weather behind them, Canadians opened their warmed up wallets in the second quarter, spending the economy to an annual growth rate of 3.1 per cent, beating analyst expectations.

Statistics Canada said Friday the increase in the gross domestic product was the strongest pace in nearly three years and compared with a 4.2 per cent rise in GDP south of the border. READ

Brad Wall says time to scrap ’dumb’ trade rules as West launches review

The premiers of Canada’s three western provinces announced Thursday they’re going to review the remaining trade barriers between them as part of their New West Partnership. READ

Rogers and Shaw launch video-on-demand service called 'Shomi’

Two of Canada’s top telecommunications companies have teamed up to launch a subscription video-on-demand service they say can rival the current industry titan Netflix without cannibalizing their own cable and television-on-demand services. READ

Tim Hortons and Burger King to join forces to form a new company

Burger King and Tim Hortons are teaming up in a US$11-billion deal that will allow the fast food companies to grow in the U.S. and internationally, but promises no changes to Canadians’ morning coffee. READ

Tim Hortons, Burger King shares surge, traders anticipate tax friendly merger

Shares in Burger King and Tim Hortons have jumped dramatically on news the two fast-food companies are talking about joining forces, a move that could help the iconic coffee and doughnut chain improve its chances of expanding successfully in the U.S. READ

Oilsands, deepwater among riskiest energy plays in the world, report says

Some of the world’s costliest energy projects are in Alberta’s oilsands and some could be cancelled without higher oil prices, according to a new report by a financial think-tank that focuses on climate risk. READ

Whoops! Make that 42,000 July jobs, not 200, Statcan says in corrected report

The once-unimpeachable reputation of the country’s national number-cruncher suffered a body blow Friday when Statistics Canada was forced to issue a major correction to its flagship employment survey. READ

Confusing sanctions regime irks industry

Industry players say the tangle of lists that Canadian financial institutions rely on to sanction terrorists, tyrants and other troublemakers are confusing and often out of date. READ

New EI claims put on hold while Statistics Canada figures out jobs numbers

An error in the jobs report issued last week by Statistics Canada has resulted in a freeze on new employment insurance claims. A government official says the processing of new EI claims is being put on hold until the agency fixes the mistake. READ

Statistics Canada suggests it botched July jobs numbers, new figures to come

Statistics Canada says it made an error in formulating its July jobs numbers. READ

Finance minister talks of 'prudent’ spending, tax relief in pre-election budget

With a multi-billion dollar surplus just around the corner, federal Finance Minister Joe Oliver suggests the spending tap is about to be slowly turned back on in Ottawa — just in time for a general election. READ

Moscow ban on food imports is short-sighted, belligerent: industry minister

The federal industry minister says Moscow’s decision to close its borders to western agricultural imports is a short-sighted move that will hurt Russia most. READ

Canada sees drop in full-time jobs in July, 35,400 stop looking for work

Trouble in Canada’s anemic jobs market continued into July as a paltry 200 jobs were added during the month, falling spectacularly short of expectations. READ

Death knell sounding for unpaid internships? NDP MP says tide may be turning

Bell Mobility has at least temporarily scrapped a controversial program that recruits hundreds of interns each year to work without pay at the company, one of Canada’s largest and most profitable telecommunications firms. READ

Canada and EU free trade deal clears major hurdle with deal on final text

Negotiators working on Canada’s free trade deal with the European Union have finalized the long-awaited text of the agreement. READ

Free shipping may soon be the new normal as retail competition intensifies

When Walmart Canada introduced free shipping on all online purchases last year, it was a clear message to its rivals that it was gearing up for a fight. READ

IMF calls on Canada, others to raise carbon taxes, cut income taxes

The International Monetary Fund says Canada and other countries can improve their economies and environment by hiking energy taxes — while cutting them on people and capital. READ

WestJet readies to take on new low-cost rivals

WestJet Airlines is preparing for the arrival of new low-cost competitors including Southwest Airlines by taking steps to expand its regional service and add wide-body planes to its fleet to access new international routes. READ

Canadians grow pessimistic about economy

Canadians are becoming increasingly pessimistic about the economy and the availability of jobs — except those in the booming West — a new survey suggests. READ

Ottawa showing progress in drive to eliminate deficit

The federal government continues to show progress in its drive to eliminate the deficit by next year, the latest accounting from the Finance Department indicates. READ

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