The NEB headlines a busy week for business as Energy East hearings begin in Quebec,
1 Energy East
The National Energy Board resumes hearings into the proposed Energy East Pipeline on Monday in Quebec, where the project has stirred much outcry. Among the harshest critics of the pipeline is Montreal Mayor Denis Coderre, the first person scheduled to speak before the regulatory panel.
2 Little trouble in big China?
Prime Minister Justin Trudeau heads to Beijing beginning Tuesday for a weeklong visit to China, where concerns are rising that a dispute over canola could overshadow efforts to build economic ties. The Chinese government has given Canada until Thursday to cut the level of foreign material — such as other plants and weed seeds — found in canola exports to China. Canada’s canola industry says the squabble poses a threat to producers here.
3 Retail earnings
A smattering of retail industry earnings come out this week. Alimentation Couche-Tard, vying to become the largest convenience store operator in Canada and the U.S., reports Tuesday. Lululemon and Dollarama are out with their results Thursday.
4 Big banks
The last of Canada’s big banks will release their third-quarter results next week with Scotiabank reporting Tuesday and National Bank the following day. Profits are up for the banks that have reported so far, despite worries over bad loans to companies in the oilpatch. But one sector becoming of increasing concern? Real estate.
5 GDP
Statistics Canada releases GDP figures for the second quarter on Wednesday. All expectations are it will contain bad news as the three-month period from April to June encompasses the wildfires in Fort McMurray, which forced the suspension of several oilsands operations. In May, the economy registered an economic contraction of 0.6 per cent — its worst one-month showing since the recession seven years ago.