Ontario says it will punish any state that adopts ‘Buy American’

Ontario Premier Kathleen Wynne says the size of each punishment will be proportional to the size of the Buy American exclusion.Canadian Press/Sean Kilpatrick WASHINGTON — Ontario is about to introduce a bill allowing it to retaliate against any state that adopts Buy American provisions, then plans to start a national conversation with other provinces about …

Navigating the third leg of REIT valuations: the view from Echelon

The Bank of CanadaTHE CANADIAN PRESS/Adrian Wyld For the relatively new two-person team of real estate investment analysts at Echelon Wealth Partners, the third leg in the valuation of the issuers they cover has arrived, a time characterized by a larger focus on interest rates. And, according to Frederic Blondeau and Stephane Boire — both …

How Carillion’s board missed the company’s looming failure

Britain's corporate governance code has a fatal flaw, and the way it is applied may help to mask the errors and mismanagement that led to Carillion's collapse.James Beck/Bloomberg The post-mortem on U.K. construction giant Carillion Plc is now well underway with a U.K. parliamentary inquiry into the firm’s collapse holding hearings on Tuesday. One early …

Canadians love free trade, but that doesn’t mean they’re any good at it

Freight trains and oil tankers in a rail yard in Toronto. Non-energy exports fell last year in volume terms, and over the past decade any growth has been exclusively due to higher prices.James MacDonald/Bloomberg Canada’s economy went on a tear last year, but someone forgot to tell exporters. Trade figures released Tuesday show the sector …

Trump’s obsession with the U.S.’s trade deficit is about to get worse

How is Donald Trump's plan to correct the U.S. trade deficit working so far? It’s not.Mandel Ngan/AFP I will say this about President Donald Trump, the man provides lots of teaching moments, even if he is oblivious to the lessons himself. Take his obsession with the trade deficit. Most economists say the gap between imports …

Lululemon’s ‘thin’ explanation of CEO’s abrupt departure ‘bordering on inadequate,’ experts say

Laurent Potdevin, former Lululemon CEO, abruptly departed with little explanation from the company.Xaume Olleros/Bloomberg files Shareholder advocates and analysts are calling on Lululemon Athletica for more disclosure surrounding the abrupt departure of its chief executive who “fell short” of the Canadian athleisure company’s conduct standards. FAIR Canada executive director Frank Allen says Lululemon’s disclosure was …

Annoyed with Canada, U.S. trade czar floats idea of separate NAFTA deals, lawmaker says

U.S. Trade Representative Robert Lighthizer. WASHINGTON — The United States trade czar is expressing frustration with Canada in the NAFTA negotiations. That’s according to a U.S. lawmaker who attended a meeting with him today. Congressman Ron Kind says U.S. Trade Representative Robert Lighthizer is even talking about finishing NAFTA negotiations with Mexico first, then doing …

Lululemon’s surprise split with CEO said to involve employee relationship

Former Chief Executive Officer Laurent Potdevin Lululemon Athletica Inc.’s reasons for parting ways with Chief Executive Officer Laurent Potdevin included a relationship that he had with a subordinate, according to people familiar with the situation. The employee, who worked as a designer at the yogawear brand, resigned in 2014 but later came back as a …

Another Canadian pension fund chief heading to BlackRock

André BourbonnaisChristinne Muschi/Bloomberg For the second time in under two years, the head of a major Canadian pension plan is leaving to join New York-based investment firm BlackRock Alternative Investors. André Bourbonnais has stepped down as chief executive of PSP Investments, the $139-billion fund that invests retirement savings for the Public Service, the Canadian Armed …

Why Canada Goose is taking a market beating despite record earnings

Canada Goose, which began opening retail stores in 2016, frequently has had customer lineups outside of its locations.THE CANADIAN PRESS/Aaron Vincent Elkaim TORONTO — A double-digit jump in third-quarter sales and earnings didn’t prevent Canada Goose Holdings Inc. from taking a double-digit dive on the markets Thursday when the company maintained its forecast for 2018 …