7.19.13: Trådløs sektor 'blodbad' med mindre reglene endres, sier Telus CEO


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Lederen av en av Canadas store tre telefonselskaper advaret om at sektoren står overfor en "blodbad" med mindre regler som kan gi en amerikansk gigantisk fortrinnsbehandling i den kommende spektrumauksjonen, endres i de neste to månedene, rapporterer Finansiell post‘s Christine Dobby. Darren Entwistle, chief executive of Telus Corp., told the Finansiell post during an editorial board meeting Thursday that the government’s campaign to have at least four wireless carriers in a every market will lead to overspending by the incumbents, could leave one of them behind technology-wise, and even threaten investment in services for rural communities. The government plans to auction off wireless spectrum in the prized 700-megahertz frequency band in January but the deadline for deposits is September 17 and Mr. Entwistle is conducting a campaign to convince the public as well as government officials, opposition politicians and the unions representing telecom employees that the rules need to change before then. The radio airwaves at stake, which became available after the transition to digital television, are highly prized for their ability to travel long distances and easily penetrate buildings.

I slekt: Verinsons interesse for Canada 'utforskende' - Finansiell post

Forbrukerprisene hopper

Forbrukerpriser hentet fart i forrige måned, drevet av høyere kostnaden for bensin og biler, men det er usannsynlig å knuse Canadas monetære politikere noe nærmere en endring i rentenivået. Den årlige inflasjonen var 1.2% i juni, opp fra 0.7% forrige måned, men i tråd med økonomernes prognoser og tilsvarende nivået som sist ble observert i februar. Statistikk Canada på fredag ​​sa at konsumprisindeksen, som har vært på eller under 1% siden mars, ble presset høyere i juni av en prisstigning på pumper og høyere kostnader for personbiler. "Kanadisk inflasjon er tilbake over 1%, men leverte ingen overraskelser," sa Avery Shenfeld, sjeføkonom på CIBC World Markets.

I slekt: Sentralbanker pause før neste pengepolitiske trekk går - Finansiell post

Kina klipper kontroller på utlånsrenter for banker

Kina vil Fjern gulvet på utlånsrenter tilbys av nasjonens finansinstitusjoner ettersom økonomisk vekst forsinker og myndighetene presser frem med tiltak som gir bankene mer frihet til å stille låneutgifter. People's Bank of China vil også fjerne kapp på utlånsrenter tilbys av landlige kooperativer, samtidig som den opprettholder sin differensierte boliglånspolitikk, ifølge en uttalelse på nettsiden sin i dag. Handlingene er effektive i morgen. Fredagens kunngjøring bygger på løfter av premier Li Keqiang for å utvide rentenoverhaling, en utvikling som Verdensbanken sier må være en prioritet i reformen av det finansielle systemet. Kinas 1-års benchmark utlånsrente har blitt holdt på 6% siden den siste reduksjonen i juli 2012.

I slekt: Kina står overfor flere ulemper vekstrisiko, advarer IMF - Bloomberg

Motor City treffer skidene

Detroit på torsdag ble den største byen i amerikansk historie for å arkivere konkurs, as the state-appointed emergency manager filed for Chapter 9 protection. Kevin Orr, a bankruptcy expert, was hired by the state in March to lead Detroit out of a fiscal free-fall and made the filing Thursday in federal bankruptcy court. A number of factors — most notably steep population and tax base falls — have been blamed on Detroit’s tumble toward insolvency. Detroit lost a quarter-million residents between 2000 and 2010. A population that in the 1950s reached 1.8 million is struggling to stay above 700,000. Much of the middle-class and scores of businesses also have fled Detroit, taking their tax dollars with them. Orr was unable to convince a host of creditors, the city’s union and pension boards to take pennies on the dollar to help facilitate the city’s massive financial restructuring. Detroit’s budget deficit is believed to be more than US$380 million. Orr has said long-term debt was more than US$14 billion and could be between US$17 billion and US$20 billion.

I slekt: Billige Detroit hjem en dårlig avtale - for investorer og samfunnet - Reuters

Nord-Amerika energi en trussel mot Saudi-Arabia

My how the tables have turned. Saudi Arabia has been publicly skeptical of North America’s energy surge, men det er nå tydelige tegn på at økonomien er direkte rammet av utviklingen i Fort McMurray, Eagle Ford og Bakken, rapporterer Finansiell post‘s Yadullah Hussain. The massive oil sector of the Middle East’s largest economy shrank 6.3% in the first quarter of the year, its lowest reading since quarterly data was made available in 2010. Brent crude prices contracted 7% during the period while production was down nearly 8%. “North American and Iraqi supply additions represent the main risk to the Saudi oil sector,” wrote James Reeve and Andrew Gilmour, senior economists at Riyadh-based Samba Banking Group in a report. “Though output from these sources has been volatile, the general trend is clear and it seems to us that the market will struggle to absorb this additional crude without an offsetting adjustment in prices. Even then, there remains a chance that additional supply will cause prices to drop sharply, necessitating an offsetting cut in OPEC (i.e. Saudi) output.”

I slekt: OPEC holder oljeutgangsmål for 2013 - Finansiell post

Battle vev for TransCanada

Det kommer til å være en stygg kamp. Canadas største distributører av naturgass graver sine hæler mot TransCanada Corp.s plan om å sende Alberta crude til østkysten, warning the scheme could result in higher costs for their customers in Ontario and Quebec. As the Finansiell post‘s Peter Koven reports, the first drop of oil won’t flow through Energy East for years, but a group led by Spectra Energy-owned Union Gas Ltd., Gaz Métro and Enbridge Gas Distribution Inc. is accusing TransCanada, Canada’s No. 2 pipeline company, of abusing its market power as it begins to lay the groundwork for converting parts of its mainline natural gas system to carry oil. TransCanada, which has yet to formally apply for the switch, is moving fast to rejig the way gas customers use the pipeline after seeking commercial support from oil companies and refineries interested in shipping crude on the 14,000-kilometre system. “What’s going to happen if [TransCanada] succeeds the way it’s going right now is the gas industries in Quebec will suffer, and we cannot let that happen,” Patrick Cabana, vice-president, gas supply, procurement and regulatory affairs with Montreal-based Gaz Métro, said in an interview.

I slekt: Østgasleverandører protesterer mot TransCanadas hovedlinjeendringer - Finansiell post

RBC, TD-aksjer slo poster

There is nothing Canadian banks can do wrong – or at least that’s how investors perceive it. Shares of Royal Bank of Canada and Toronto-Dominion Bank hit record highs on Thursday, lifting an index of the country’s largest lenders. Royal Bank, Canada’s largest lender by assets, rose 1.5% to $64.78 in Toronto, a record high after taking into account stock splits, eclipsing the previous peak of $64.49 on Feb. 20, according to data compiled by Bloomberg. Toronto-Dominion, the second-largest bank, advanced 1.5% to $87.48, its highest in almost two years. The Toronto-based lender’s previous record closing price was $86.40 on March 30, 2011. Canadian banks are rising as the nation’s housing market defies predictions of a major slowdown. Canadian existing home sales rose 3.3% in June, almost matching the previous month’s gain that was the fastest in more than two years, according to Canadian Real Estate Association data. Canada’s four other large lenders also climbed, with the eight-company Standard & Poor’s/TSX Commercial Banks Index gaining 1.2%.

I slekt: Boligmanglingen gjør Canadas banker mer attraktive - Bloomberg

Bare i Canada, eh?

Seems Americans aren’t all that keen on double-doubles and tim-bits. Tim Hortons’ failure to catch on with consumers in the U.S., where the coffee and doughnut chain’s Canadian charm means little in a crowded fast-food market, is forårsaker økende uro blant sine aksjonærer. Aktivistiske investorer sier at $ 664 millioner amerikanske utvidelsen i løpet av det siste tiåret har vært bortkastet. På spill kan det være et tvunget tilfluktssted fra et marked som lover Oakville, Ontario-baserte selskapet potensiell vekst når den når metning hjemme. "De møter det punktet at de ikke vil kunne åpne flere butikker i Canada," sa Jim Danahy, daglig leder i Customer LAB, et Toronto-basert konsulentfirma, i et intervju. "De vet at langsiktig vekst kommer til å komme fra USA." Tim Hortons møtte nylig kritikk av sin amerikanske strategi fra aktivistiske investorer Highfields Capital Management LP i Boston og New York-baserte Scout Capital Management LLC, som holder 4% og 5% av selskapets aksjer, henholdsvis.

I slekt: Hedgefond oppfordrer Tim Hortons til å optimalisere kapitalstrukturen - Reuters

Windows-telefoner som røyker BlackBerrys?

Det ser ut til å være en ny vinner i løpet av tredje plass i den mobile plattformskriget. Googles Android og Apples IOS-operativsystem er fortsatt på topp, men det ser nå ut til at flere kunder er graviterende mot Windows Phone-plattformen as an alternative to BlackBerry. BlackBerry released its new mobile operating system, BlackBerry 10, early this year, but sales have been disappointing so far. In fact, BlackBerry only shipped 2.7 million BlackBerry 10 devices last quarter. Meanwhile, Nokia says it shipped 7.4 million of its Lumia smartphones, which run Microsoft’s Windows Phone operating system. That number was lower than analysts had expected, but still higher than what BlackBerry was able to pull off last quarter. Plus, Nokia isn’t the only company that makes Windows Phones. Samsung and HTC are two other big names in mobile that also make Windows Phone devices. However, unlike Samsung and HTC, Nokia does not make Android devices. Nokia’s bet is that Windows Phones are the next big thing and it’s pumping all its efforts into the platform.

I slekt: BlackBerry Z10 priser slashed i USA som bevis på svake salgsfeste, sier rapporten - Finansiell post

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