Canadian Finance Minister Jim Flaherty will say in a budget today how he plans to cope with a weakening revenue outlook that is hampering efforts to eliminate the country’s deficit before the 2015 election.
Barrick Gold Corp. and Visa Canada Corp. are exploiting an exemption in ethics legislation to hire former Harper administration aides as lobbyists, triggering calls for increased regulation as Canadian lawmakers prepare to review the rules.
Alberta’s dependence on revenue from sales of discounted oil means the Aaa-rated province will miss its target of a balanced budget in the fiscal year ending March 2014 and could run a C$4 billion ($4 billion) deficit instead, according to Moody’s Investors Service.
China-based hackers looking to derail the $40 billion acquisition of the world’s largest potash producer by an Australian mining giant zeroed in on offices on Toronto’s Bay Street, home of the Canadian law firms handling the deal.
The government would be breaking the law by yielding to pressure from the opposition New Democratic Party to hold public hearings into Cnooc Ltd.’s takeover of Nexen Inc., Treasury Board President Tony Clement said.