A lot of our attention this week will be fixed on Wednesday, when the Bank of Canada is widely expected to cut its key lending rate for the third time since June, and Alimentation Couche-Tard Inc. reports quarterly earnings amid recent news that it’s trying to buy the Japanese parent company of 7-Eleven. More on that below.The federal government approved a sharp spike in large corporate writeoffs last year, with 11 companies receiving $1.
The company is arguing it plays a critical role in supplying food and supplies in the event of natural disasters.Even as Seven & i has acknowledged that it has set up a special committee to examine the deal, doubts are already emerging that Couche-Tard’s friendly overture will be returned with a smile.
As Willis told me: “If Couche-Tard says anything in the call about being disciplined in their approach to acquisitions, they are signalling that they are prepared to walk.”through the summer, the only thing economists can’t seem to agree on is the size of the cut in store. Stephen Brown, a senior economist at Capital Economics, said signs the economy will continue to stagnate “leads us to think that we are now close to 50/50″ that the bank will cut by 25 or 50 basis points on Wednesday.The largest employer in Sault Ste. Marie is transforming its coal-fired production processes into a modern operation that emits far less carbon and other pollutants.
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