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TORONTO – Five things to watch this week in Canadian business:
Auto Talks: Unifor’s contract with the Detroit Three automakers expires Monday night. The union, which represents about 23,000 auto workers in Canada, has set its sights on General Motors as it tries to secure more production at the automaker’s plant in Oshawa, Ont.
Bank of Canada Speech: Bank of Canada governor Stephen Poloz will speak in Quebec City on Tuesday before the Association des economistes quebecois. Earlier this month, the central bank struck a cautionary note in keeping its key interest rate target at 0.5 per cent, acknowledging Canada’s relatively weak export sector.
Diamonds in the North: De Beers and Mountain Province Diamonds officially open the $1 billion Gahcho Kue diamond mine in the Northwest Territories on Tuesday. The opening comes at a time of increased volatility in the industry and follows the closure of De Beers’s Snap Lake diamond mine late last year.
The Economy: Another batch of economic data will be rolled out this week. On Wednesday, Statistics Canada releases wholesale trade figures for July. Two days later we’ll get inflation data for August.
Northern Gateway Deadline: The federal government has until Thursday to decide whether to appeal a ruling that quashes approval for the Northern Gateway Pipeline. It’s the first of several decisions on major energy projects that Prime Minister Justin Trudeau faces in the weeks ahead.
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