Canada Stocks Little Changed As Oil Producers, Blackberry Gain
Denver-based burrito chain Chipotle Mexican Grill Inc is one of the most well-known restaurant companies that uses organic ingredients and antibiotic-free meat when possible. “You see more and more companies trying to go that route,” said Steve West, a restaurant industry analyst at ITG, based in St. Louis. “We’ve seen hamburger chains in the past like Hardee’s and Jack In The Box realizing, ‘we can’t compete with McDonald’s and Burger King on this low-quality, cheap food – we’ve got to take it up a notch.'” Growth promotants help ranchers and feedlots raise more beef using less feed. The company has worked on its plan for 18 months, lining up suppliers in Canada, the United States and Australia. Senecal said A&W’s beef costs will climb, but it has no plans to raise burger prices. “I think we’ll get lots more customers and sell lots more burgers,” she said. But West said A&W will have to raise prices at some point to reflect its higher costs unless it’s willing to absorb a slimmer margin, which is unlikely. Canada is the world’s 11th biggest beef producer, according to U.S. Department of Agriculture data. The Canadian Cattlemen’s Association says all Canadian beef is “safe, wholesome and nutritious.” In a statement, it said Canadian ranchers have used growth promotants for more than four decades, and the products are approved by the country’s health department. “Science shows that the amount of hormone in a serving of meat from a treated animal is virtually indistinguishable from the amount of hormone in an untreated animal,” said CCA spokeswoman Gina Teel. The decision is aimed to satisfy a consumer preference, and A&W makes no claims that beef without added hormones or steroids is more healthy or nutritious, Senecal said.
Destabilizing Effect President Barack Obama said in a televised statement that Congresss failure to approve funding would have a destabilizing effect on the economy. Democrats and Republicans cant agree on the inclusion of funds for Obamas health-care law in the bill. Energy stocks added 0.1 percent as a group, as six of 10 industries in the S&P/TSX rose. Trading volume was 20 percent below the 30-day average. Trilogy Energy soared 11 percent to C$28.80 after reporting an operating update for its Montney and Duvernay oil projects. The company said unexpected plant outages reduced third-quarter volumes to about 31,000 barrels of oil equivalent per day, and anticipates levels returning to normal in the fourth quarter. Athabasca Oil Corp. (ATH) , which is seeking a joint-venture partner for its Duvernay holdings, jumped 9.3 percent to C$7.97, the most in seven weeks. BlackBerry Earnings BlackBerry added 0.7 percent to C$8.28, the first increase in six days. The smartphone maker reported more complete second-quarter earnings , including a loss of 47 cents a share from continuing operations and a 45 percent plunge in sales to $1.57 billion, after disclosing preliminary results on Sept. 20.
Canada PM Won’t Accept US Rejection of Keystone XL
The government is still in the early stages of consultations. Like Assads major suppliers Russia, China, North Korea, Iran were a holdout. This is embarrassing. Once again the Harper government has snubbed the UN for no good reason. As Oxfam America president Raymond Offenheiser put it, Over the long term the Arms Trade Treaty will change how countries engage in the arms trade by requiring exporters to take human rights seriously. There was a day when a Canadian government would be eager to advance such a vision rather than hang back. Canada isnt opposed to the treaty in principle. Along with the overwhelming majority of countries in the General Assembly we voted on April 2 to adopt it. That makes Ottawas failure on Wednesday to go the next step, join our key ally and 17 other countries, and formally sign on all the more regrettable. The Conservatives concern that the treaty may infringe on private gun ownership has been dismissed by Washington and laughed to scorn by arms experts. The Arms Trade Treaty, which covers everything from warships, combat aircraft and heavy artillery to assault rifles, is about naming and shaming governments that sell weapons to dictators, warlords and criminals. Its not about putting Alberta gun shops out of business. It requires countries like Canada, a modest arms exporter, to be a little choosier about their customers, and a little more open about sales. Exporters will have to carry out risk assessments to ensure that any given sale doesnt break a UN arms embargo, or enable war crimes, genocide, terrorism, piracy, attacks on civilians and other grave breaches of the Geneva Conventions. They will also have to report publicly on sales. The aim is to curb the uncontrolled flow of weapons and munitions to violent regimes, gunrunners, terrorists, organized crime and other bad actors.
Canada should sign UN Arms Trade Treaty: Editorial
The long-delayed project carrying oil from Canada’s oil sands needs approval from the U.S. State Department, and Harper’s remarks are some of his strongest to date. “My view is that you don’t take no for an answer,” Harper said. “We haven’t had that but if we were to get that it won’t be final. This won’t be final until it’s approved and we will keep pushing forward.” Harper, who made the remarks at a Canadian American Business Council event, said he’s been in regular contact with President Barack Obama. Harper said it will create 40,000 jobs in the U.S. “The logic behind this project is simply overwhelming,” the prime minister said. Harper said politics has cast doubt on whether the pipeline will be approved but said he’s optimistic it will be approved. “Ultimately, over time, bad politics make bad policy,” he said. “The president has always assured me that he will a make decision that’s in what he believes is in the best interests of the United States based on the facts. I think the facts are clear.” The Obama administration is considering whether to approve the pipeline, which would carry 800,000 barrels of oil a day from Alberta across six U.S. states to the Texas Gulf Coast. A decision late this year or early next year.