Premier Oil slows Sea Lion project to guard against falling oil prices

first_img Tom Beck Premier Oil slows Sea Lion project to guard against falling oil prices Share LONDON-based oil and gas exploration company Premier Oil yesterday announced plans to slow progress at its Sea Lion project in a bid to cut costs as protection from lowered oil prices.Premier Oil chief executive Tony Durrant said that new projects would be sanctioned “if they are robust at our long term-oil price” – currently less than $80 a barrel. The reduction will come from a reduced amount of wells drilled at the north and east part of the Sea Lion oil field. Currently, Premier expects to drill 10 firm exploration and appraisal wells over the next years, the first of which is expected to spud next month or January.The Sea Lion project kicked off development during November 2012 in the North Falkland Basin, south east of Argentina.Amid news of lowered oil prices, the company has also announced a 12.6 per cent increase in oil production, to 64,000 boepd, for the year’s first 10 months.Durrant commented: “[This year] has seen strong operational performance from Premier as we continue to deliver on the key targets communicated to investors earlier in the year.”Premier’s share price dipped by 1.62 per cent yesterday to close at 243.30p. Show Comments ▼ Thursday 13 November 2014 8:40 pm center_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoLoan Insurance WealthDolly Parton, 74, Takes off Makeup, Leaves Us With No WordsLoan Insurance WealthUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndo Tags: NULL whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orglast_img read more

Defence firm BAE expects improvement on last year as government orders rise

first_img whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the BAE SYSTEMS said it was making good progress in a statement released at yesterday’s annual general meeting, despite facing significant currency headwinds this year. The company said it expects earnings per share to be “marginally higher” than in 2014 with expectations of further naval and aircraft orders.BAE, like many defence firms, has faced increased pressure in recent years as governments cut back on military spending in the wake of the financial crisis. However, the UK’s biggest weapons and equipment firm has won significant contracts so far this year, including a £112m extension to its Typhoon deal and a £285m five year contract to supply night vision goggles. Despite this, the group’s significant exposure to the US dollar means it is prone to suffer from the recent exchange rate volatility. Last month the firm said it was looking to sell its US consultancy division.Ian King, chief executive, said: “Our business is making good progress in 2015. We continue to win new business, meet key milestones on our major programmes and develop technologies and skills that underpin our future success.” Express KCS whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndoForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesUndoComedyAbandoned Submarines Floating Around the WorldComedyUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoTotal PastAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongTotal PastUndocenter_img Defence firm BAE expects improvement on last year as government orders rise Thursday 7 May 2015 9:07 pm Show Comments ▼ Share Tags: NULLlast_img read more

Petition to FDA: Get the lead out of consumer hair dyes

first_img By Sheila Kaplan April 12, 2017 Reprints STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Unlock this article — and get additional analysis of the technologies disrupting health care — by subscribing to STAT+. First 30 days free. GET STARTED WASHINGTON — Back in 1980, when the Food and Drug Administration approved the use of lead acetate in hair dyes, little was known about the way skin absorbs toxic chemicals.The skin — and the scalp in particular — were considered tough barriers to break, and many public health officials believed that even if small amounts of lead got through, or were inhaled, it couldn’t really hurt anyone. What is it? Health Petition to FDA: Get the lead out of consumer hair dyes What’s included? Alissa Ambrose/STAT GET STARTED Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. Tags policySTAT+ Log In | Learn More last_img read more

Florida man tosses Thanksgiving turkey into pool to defrost

first_imgRELATEDTOPICS AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments Advertisement Cape Coral man tries to figure out meaning of his 25-year-old tattoos June 16, 2021 CLEARWATER, Fla. (WFLA) – A Clearwater man’s “family tradition” of defrosting a Thanksgiving turkey is getting a lot of attention on Facebook. Mark O’Donnell filmed a Facebook Live of his family plopping a 16-pound turkey into their swimming pool to defrost. He said the tradition has existed for 18 years. “We thaw our turkey in the pool,” he says in the video. “That’s what you do when you live in Florida, right?”O’Donnell said he checks several times for any leaks before tossing into the chlorinated pool. Florida man arrested for DUI after rear-ending truck in Dairy Queen drive-thru April 27, 2021 Florida man accused of scamming hotels after claiming to work in the rap industry March 17, 2021 AdvertisementTags: florida manThanksgiving AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Florida man accused of attacking family members with samurai sword April 30, 2021 Advertisementlast_img read more

Pat Critchley, Ciara Byrne, Gillian Wheeler, Jack Dooley and Portlaoise Panthers honoured at Basketball Ireland Annual Awards

first_img Pinterest Electric Picnic Electric Picnic TAGSBasketball IrelandCiara ByrneJack DooleyPat CritchleyPortlaoise Panthers Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival Pat Critchley, Ciara Byrne, Jack Dooley, Gillian Wheeler and Portlaoise Panthers are tasting more success this morning.The Basketball Ireland Annual Awards and President’s Lifetime Achievement Awards for the 2019/20 season have been announced today.The awards will be presented at the Hall of Fame and Annual Awards ceremony, which is currently due to be held on Saturday, May 30, at Croke Park.Please note this date is subject to change depending on Covid-19.In the Women’s Division One, Edel Thornton of Trinity Meteors has been named the Player of the Year, Ciara Byrne of Portlaoise Panthers has secured the Young Player of the Year award.And Ciara will not just pick up one award at the ceremony – she will also win a second.She has been awarded the Schools U-19 Girls Player of the Year following a hugely successful year with Scoil Chríost Rí, Portlaoise.Teammate Gillian Wheeler also tasted success as she was named U18 Female Player of the Year.Elsewhere, Portlaoise Panthers has been named the Area Board Club of the Year as their incredible rise through the game receives the recognition it deserves.Meanwhile, The President’s Lifetime Achievement Awards were also revealed today with Pat Critchley, Frank Cashman and Ann Diffney announced as this year’s recipients.While finally, Jack Dooley has been named as women’s underage coach of the year.Well done to all!BASKETBALL IRELAND ANNUAL AWARDS AND PRESIDENT’S LIFETIME ACHIEVEMENT AWARDS WINNERS 2019/20:PRESIDENT’S LIFETIME ACHIEVEMENT AWARDSPat CritchleyFrank CashmanAnn DiffneyNATIONAL LEAGUEMen’s Super League:Player of the Year: Delaney Blaylock (Belfast Star)Young Player of the Year: CJ Fulton (Belfast Star)Coach of the Year: Adrian Fulton (Belfast Star)Women’s Super League:Player of the Year: Shrita Parker (Ambassador UCC Glanmire)Young Player of the Year: Rachel Huijsdens (DCU Mercy)Coach of the Year: Mark Ingle (DCU Mercy)Men’s Division One:Player of the Year: Andre Nation (Tradehouse Central Ballincollig)Young Player of the Year: Dylan Corkery (Tradehouse Central Ballincollig)Coach of the Year: Kieran O’Sullivan (Tradehouse Central Ballincollig)Women’s Division One:Player of the Year: Edel Thornton (Trinity Meteors)Young Player of the Year: Ciara Byrne (Portlaoise Panthers)Coach of the Year: Vinny O’Keeffe (Trinity Meteors)IWAIrish Wheelchair Basketball Men’s Player of the Year: Derek Hegarty (Rebel Wheelers)Irish Wheelchair Basketball Women’s Player of the Year: Jodie Waite (Limerick Scorpions)REFEREES:NRC Referee of the Year: Stuart Joyce (CCBOA)Most Improved NRC Referee: Rachel Dudley (SERA)National League Referee of the Year: Niamh CallaghanYoung National League Referee of the Year: Sara GuebailiTABLE OFFICIALS:Table Official of the Year: Norma ThompsonTable Official of the Year: Aoife QuinnNBCC COLLEGESDivision 1 Female Collegiate Player of the Year: Edel Thornton (TCD)Division 1 Male Collegiate Player of the Year: Marko Tomic (DBS)Division 2 Female Collegiate Player of the Year: Morgan O’Donnell (GCD)Division 2 Male Collegiate Player of the Year: Farouq Raheem (TUD City Centre)Division 3 Female Collegiate Player of the Year: Aisling McCann (RCSI)Division 3 Male Collegiate Player of the Year: Lisle Blackbourn (RCSI)POST PRIMARY SCHOOLS:Tom Collins Award: PJ ReidyGirls A School of the Year: Scoil Chríost Rí, Portlaoise (Laois)Boys A School of the Year: Mercy Mounthawk, Tralee (Kerry)Girls B School of the Year: St Colmcille’s CS, Knocklyon (Dublin)Boys B School of the Year: Cnoc Mhuire, Granard (Longford)Girls C School of the Year: Sacred Heart School, Drogheda (Louth)Boys C School of the Year: Skibbereen Community School (Cork)Girls D School of the Year: Ballybay Community College (Monaghan)Boys D School of the Year: Castleblayney College (Monaghan)Female U19 Schools Player of the Year: Ciara Byrne (Scoil Chríost Rí, Portlaoise)Male U19 Schools Player of the Year: CJ Fulton (St Malachy’s College, Belfast)Female U16 Schools Player of the Year: Tania Salvado McCormack (Pobalscoil Inbhear Scéine, Kenmare)Male U16 Schools Player of the Year: Anthony Ezeonu (St Joseph’s College, The Bish, Galway)Girls School Coach of the Year: Niamh Ni Chearra, Virginia College (Cavan)Boys Schools Coach of the Year: Sean Daly, Malahide Community School (Dublin)PRIMARY SCHOOLS MINI BASKETBALL:Primary School of the Year: St John’s, LimerickAppreciation Award: Joe Doheny, CarlowAREA BOARDS:Area Board Club of the Year: Portlaoise PanthersU18 Male Player of the Year: CJ Fulton (Belfast Star)U18 Female Player of the Year: Gillian Wheeler (Portlaoise Panthers)U20 Male Player of the Year: Paul Kelly (Moycullen)U20 Female Player of the Year: Debbie Ogayemi (Waterford Wildcats)UNDERAGE COACHES:Men’s Underage Coach of the Year: Keith Daly (Neptune BC)Women’s Underage Coach of the Year: Jack Dooley (Portlaoise Panthers)SEE ALSO – On The Frontline: Laois nurse on what it is like working in a COVID-19 ward during Coronavirus pandemic By Alan Hartnett – 9th April 2020 News Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Twitter Home Sport Basketball Pat Critchley, Ciara Byrne, Gillian Wheeler, Jack Dooley and Portlaoise Panthers honoured… SportBasketball Pinterest WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHOR Pat Critchley, Ciara Byrne, Gillian Wheeler, Jack Dooley and Portlaoise Panthers honoured at Basketball Ireland Annual Awards Previous articleJOB VACANCY: People First Credit Union seeking to hire Risk Management OfficerNext articleStudying during Coronavirus: Scoil Chriost Ri student on prepping for state exams in a pandemic Alan HartnettStradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016. WhatsApp Facebook Facebook Electric Picnic organisers release statement following confirmation of new festival datelast_img read more

U.S. derivatives tax regime extended for two years

first_img MX seeks market makers for extended hours Related news The Investment Industry Association of Canada (IIAC) is hailing the decision by the U.S. Internal Revenue Service (IRS) to extend the transition period for certain tax rules for derivatives for another two years as a “significant win” for Canadian dealers. The Qualified Securities Lender (QSL) regime was set to expire on Jan. 1, and was to be replaced by new rules, known as the Qualified Derivatives Dealers (QDD) regime. However, the IRS decided to extend the existing rules through 2019. Calling all night owls: MX looks to fill expanded trading hours Facebook LinkedIn Twitter James Langton center_img The decision is a “significant win” for Canadian dealers as, the IIAC says in its Jan. 2 newsletter, adding the new QDD regime, “is not yet properly defined, which would have resulted in excessive withholding tax on securities lending transactions, a disproportionate compliance burden and potential disruption of business, if the new regime had gone into effect.” U.S. authorities now have another two years to finalize the QDD regime. In a submission to the IRS and the U.S. Treasury Department on Nov. 30, the IIAC called on the U.S. authorities to keep the existing QSL regime, or to at least delay the implementation of the planned new QDD regime. “After considering comments from participants in the securities lending market and the tax administration concerns of the IRS, particularly with respect to verification, the Treasury Dept. and the IRS have decided to extend the QSL regime … but only for payments made in calendar years 2018 and 2019,” the IRS says in its announcement. “During this period, the Treasury Dept. and the IRS intend to consider whether additional guidance is appropriate to address the particular circumstances of foreign lenders of U.S. dividend-paying stocks.” Keywords DerivativesCompanies Investment Industry Association of Canada CME Group pulls derivatives out of the Ether Share this article and your comments with peers on social medialast_img read more

ESMA tackles CCP conflicts of interest

first_img Keywords Conflicts of interest,  EuropeCompanies European Securities and Markets Authority Incentive conflicts, regulatory burdens on AMF agenda Facebook LinkedIn Twitter Related news New guidance on managing conflicts of interest at central counterparties (CCPs) aims to clarify how these organizations should prevent, or mitigate, the risks of conflicts of interest that may arise.The guidance, published Wednesday by the European Securities and Markets Authority (ESMA), stresses that CCPs should consider potential conflicts in various relationships — including between a CCP, broker dealers, and their clients — as well as possible conflicts with trading venues, related firms, data providers, payment and securities settlement systems, securities depositories, and trade repositories. IIROC sanctions rep over undisclosed real estate dealingscenter_img BFI investors plead for firm’s sale It also specifies the sorts of processes and procedures that should be established to address conflicts, including situations where a CCP is part of a larger group structure.Under European rules for market infrastructure firms, CCPs are required to implement organizational arrangements, and to adopt policies, to prevent potential conflicts of interest, and to resolve conflicts in cases where preventive measures are not adequate.ESMA’s guidance, which is intended to ensure a level playing field throughout the region, was developed following a public consultation. Share this article and your comments with peers on social media James Langton last_img read more

Retail trading practices face regulators’ scrutiny

first_img Regulators issue new reporting guidance on systems outages Share this article and your comments with peers on social media James Langton Securities regulators are once again examining a long-standing issue for brokers and investors—the prevalence of “internalization” in the Canadian equity trading landscape, and its impact on the fairness and efficiency of markets.In a joint consultation paper published Tuesday, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) said they’re seeking industry feedback on the issue of internalization, which generally refers to a broker acting as both buyer and seller on an order. Keywords Trading rules,  Electronic trading,  Alternative trading systems businessman documents smart phone digital tablet graph business diagram everythingpossible/123RF As retail trading jumps, SEC to rethink its rules Among other things, the regulators are looking for insight into how internalization impacts the market overall (weighed against the interests of individual clients and dealers); the conflicts of interest inherent in broker preferencing practices and their impact on liquidity, price discovery and market fairness; and the effects of increasing market segmentation for retail orders.“Much of the recent concern about increasing levels of dealer internalization is premised on the view that systems are being employed to segment and internalize predominantly retail orders, leaving significantly less opportunity for the broader market to trade with retail clients and potentially resulting in inferior execution results for market participants in aggregate,” the paper noted.“While there are a variety of competing interests, our underlying goal is to ensure the protection of investors, and to foster fair and efficient capital markets and confidence in capital markets,” the regulators said in the paper.There are no specific policy responses proposed in the paper, and the CSA and IIROC stressed they haven’t reached any conclusions about whether rule changes are needed.“We are seeking feedback to consider how current trading practices fit within our rule framework, offer investors protection, and support the evolution and functioning of a fair and efficient market,” said Louis Morisset, chair of the CSA and president and CEO of the Autorité des marchés financiers (AMF), in a release accompanying the regulators’ paper.The issue of internalization has existed for years in the Canadian equity market. In the days before the advent of alternative trading systems and widespread electronic trading, regulators worried about the role of the “upstairs market” in Canada.Now, in their paper, the CSA and IIROC are examining the phenomenon in the context of the modern Canadian equity market, which has multiple trading venues—including both dark and lit markets—offering a vast array of trading models. Comments on the paper are due by May 13. OSC seeks market structure expertise Related news Facebook LinkedIn Twitterlast_img read more

End-of-year tax tips for 2019

first_imgCanadian income tax form 123RF Facebook LinkedIn Twitter A transaction needs to take place on or before Dec. 27 in order for the trade to settle in 2019.RRSP contributions and withdrawalsClients must contribute to their RRSPs by March 2, 2020 in order to be able to deduct the amount on their 2019 tax returns. Contributions made earlier than the deadline — including on or before Dec. 31 — allow your client to maximize the benefit of tax-deferred growth within the plan.A client who turned 71 in 2019 has until Dec. 31 to make a final contribution to their RRSP before the plan must be converted into a RRIF or an annuity.If your client earned income in 2019 that would generate RRSP contribution room in 2020, they could make a one-time overcontribution to their RRSP before the end of the year. While your client will pay a 1% penalty, per month, on the excess contribution above the allowable overcontribution limit of $2,000, the new contribution room in 2020 will absorb the over-contribution amount. Your client can deduct the overcontributed amount on either their 2020 tax return or in a future year’s return, allowing them to shelter more of their money in the RRSP.Finally, if your client had a low level of income in 2019 and expects to be in a higher tax bracket in their retirement years, they might consider withdrawing from their RRSP before Dec. 31. Some or all of that withdrawal can be contributed into their TFSA if they have contribution room.RESP contributionsThe federal government provides a Canada Education Savings Grant (CESG) of up to 20% of the first $2,500 in contributions, per child, to a Registered Education Savings Plan (RESP) in a year. Unused CESG room may be carried forward until the year in which the child turns 17. The lifetime maximum CESG benefit is $7,200 per child.If your client hasn’t yet contributed to an RESP for 2019, doing so before Dec. 31 would allow them to take advantage of the tax-deferred growth in the plan.The government will provide up to $1,000 of CESG in a year when a client makes up unused CESG room. If your client has not been contributing enough to maximize the CESG, and their child is within seven years of turning 17, suggest that your client contribute to the RESP by Dec. 31.Charitable donationsDec. 31 is the last day your client can donate to a registered charity in order to claim a donation tax receipt on their 2019 tax return. The federal donation tax credit (DTC) is 15% on the first $200 of donations, and then 29% on donations above $200 (and to 33% to the extent taxable income is above the top bracket threshold of $210,371). There are also provincial donation tax credits available in addition to the federal DTC. Keywords Taxes,  Financial planning Share this article and your comments with peers on social media U.S. proposes tax of at least 15% on global corporate profits U.S. businesses may have to report crypto assets to IRScenter_img With the calendar about to turn over into a new tax year, now’s a good time to make sure that your clients are taking advantage of the tax-planning opportunities available. Here’s a handful of relatively easy tax wins to make sure your clients’ holidays are as happy as they can be:Timing of TFSA withdrawalsIf your clients will soon be withdrawing from their TFSAs to fund a purchase, advise them to do so before Dec. 31. Amounts withdrawn from a TFSA in a given year are added to contribution room for the following year. Thus, if your client withdraws $5,000 from a TFSA in December, $5,000 of contribution room is added to their room in Jan. 2020. Clients who delay withdrawing the funds from the account until January will have to wait until 2021 to regain that contribution room. Related news Tax-loss sellingYour client might consider selling a losing investment before Dec. 31 in order to use the resulting capital loss to offset capital gains earned in 2019.Unused net capital loss for the year can be carried back to offset capital gains in any of the previous three years, or carried forward indefinitely.  Rudy Mezzetta Government to reimburse self-employed workers who repaid CERBlast_img read more

Annual pace of inflation held steady in December

first_imgEnergy prices in December were up 5.5% compared with a year ago, while gasoline prices were up 7.4% compared with December 2018 when crude oil prices fell amid a global oversupply.Excluding gasoline, the consumer price index was up 2.0%, the smallest increase since November 2018.The year-over-year growth in fresh vegetable prices slowed to 1.5% in December compared with an increase of 7.1% in November.Statistics Canada said lettuce prices were down 5.0% compared with a year ago when prices rose due to an E. coli outbreak, which required the stock of romaine lettuce in the U.S. to be disposed of, limiting the supply and driving up prices for other kinds of lettuce.Prices for passenger vehicles in December also rose at a slower pace, rising 1.4% compared with a year ago, compared with a 2.9% increase in November.The average of Canada’s three measures for core inflation, which are considered better gauges of underlying price pressures, was 2.10% compared with a revised figure of 2.13% for November.The inflation report comes ahead of the Bank of Canada’s interest rate decision. The central bank is expected to keep its key interest rate target on hold at 1.75%.Statistics Canada also reported Wednesday that wholesale sales in Canada fell 1.2% to $63.2 billion in November, as five of the seven subsectors tracked moved lower.The motor vehicle and motor vehicle parts and accessories subsector posted the largest decrease in dollar terms as it fell 3.3% to $10.7 billion, the fourth consecutive monthly decline. Keywords Inflation,  Economic indicators,  Economic forecastsCompanies Statistics Canada The annual pace of inflation held steady in December as higher energy prices were offset in part by slower growth in the price of fresh vegetables.Statistics Canada said Wednesday the consumer price index in December was up 2.2% compared with a year ago, matching the year-over-year increase in November. Related news Share this article and your comments with peers on social media Another jump in prices tightens the squeeze on U.S. consumers Household debt-to-income ratio fell in first quarter: Statscan This picture says the development of economy, successful, and achievement iStock Stagflation is U.S. economists’ biggest fear, SIFMA says Facebook LinkedIn Twitter Canadian Press last_img read more