Newspaper chain to be called Postmedia network
TORONTO — The company headed by National Post chief executive Paul Godfrey that is buying the Canwest newspapers will be called Postmedia Network Inc.
The new company will hold some of Canada’s largest daily newspapers including the National Post, Vancouver Sun, Calgary Herald and Ottawa Citizen.
“Postmedia Network reflects both where we have been and where we are going,” Godfrey said in a statement released Friday. “From the earliest days of information delivery via post, to the current online world of posting news and information as it happens and looking ahead to the continuous evolution of a post-media universe, our new name reflects both the strong legacy and the exciting future of media as we prepare to emerge as a new Canadian business.”
Last month, an Ontario Superior Court judge gave the green light for Canwest Global Communications Corp. to sell its newspaper division to a group of its creditors led by Godfrey.
Consumer confidence remains flat
TORONTO — Canadians, according to the June RBC Consumer Outlook Index, see some silver linings in the economic clouds, as well as continued stormy weather. The index suggests 67 per cent of Canadians believe the overall outlook for the economy is good — up from 54 per cent the last quarter. And 20 per cent said they were anxious about their jobs — down seven points from its height last November.
But looking ahead, only 55 per cent said they expected Canada’s economy to improve over the next year — down by two points from March. And 34 per cent said their ability to save money for things like retirement or education was slightly better than it was three months ago, a five point drop from last quarter. Overall, the index was flat at 108 points from last quarter.
Some 37 per cent said they have less money left over after paying their bills than they did three months ago (a decline of four points from March) and 20 per cent feared the situation will worsen over the next three months.
Interest rates remain a major issue, with 67 per cent of Canadians saying they are concerned about rising interest rates, and 84 per cent expecting rates to continue rising over the next six months.