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Good news report from Canada
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6 September 2007
29 August was the 29th day of the second month of the 2nd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
29 August 2007
Bloomberg News - Canada Stocks Rebound, Led by Bombardier and Research In Motion (29 August 2007) Canadian stocks rose the most in 13 months, as Bombardier's better-than-expected earnings stoked optimism that the economy can weather the global credit crunch. The TSX Composite Index rose 225.25, or 1.7 per cent, to 13,490.12. Gauges of technology and industrial shares advanced 4 per cent and 2.6 per cent, respectively, the best gains among the TSX's 10 industry groups. Canada's second-biggest lender, Bank of Nova Scotia, led financial shares higher, after it yesterday followed Toronto-Dominion Bank and Royal Bank of Canada in reporting better-than-expected earnings. 'Right now the Canadian economy is doing well and you can see it in the numbers for all the banks,' said Ian Nakamoto, director of research at MacDougall, MacDougall, and MacTier in Toronto, which manages C$4.3 billion.
From a Reuters Canada report on this: Every sector of the benchmark index advanced in a broad-based rally, including the key materials group, which added 2.3%. Financials advanced 1.2%.
From a CBC News report on this: The materials, golds, industrials, and IT sectors were all up by better than two per cent. Mining rose by three per cent. Research in Motion, maker of the BlackBerry, led the IT sector higher.
The Globe and Mail - Confident executives dig deep (29 August 2007) Corporate insiders are already betting the worst is over, judging from the latest insider trading report from INK Research Corp. 'Corporate executives and directors have voted with their pocket books by snapping up stocks at a record pace,' said Henry Chan, co-founder and president of the Vancouver-based research firm. 'Insider sentiment readings for TSX stocks have moved to bullish from neutral.' INK's short-term sentiment indicator (based on the last 30 days) for the Toronto Stock Exchange is now at its highest level in its four-year history. The industrials and materials sectors made 'unambiguous turns in sentiment'. Mr. Chan said 'the upturn in sentiment among these economically sensitive areas of the market is particularly encouraging as it suggests that insiders are betting that a pullback in global growth is not in sight.'
Canadian Press - Canadian bank credit fears not quite as bad as investors expected (28 August 2007) Early investor fears that Canada's six big banks would be punished by credit woes south of the border were somewhat calmed on Wednesday as the last of them issued some form of detailed comment on whether they'd see any direct impact. The overall short-term exposure for the big banks appears to fall on the more optimistic end of expectations.
CBC News - Canadian M&A activity hits record (29 August 2007) Crosbie & Co., a Toronto-based investment bank, said Canadian firms were involved in C$202 billion worth of transactions between April and June. That shatters the previous quarterly record of C$88.8 billion set in the third quarter of 2006. Q2 deals would have set a record even if the BCE and Alcan deals, worth a total of C$88 billion, had been excluded. In the first six months of this year, Canadian companies bought more foreign firms than the other way around (278 versus 129). But foreign acquisitions of Canadian firms were much bigger in value (C$155 billion versus C$64.3 billion). The biggest foreign acquisition by a Canadian company in the second quarter was Thomson Corp.'s purchase of Reuters Group PLC for about C$19 billion. M&A (mergers and acquisitions) activity is expected to be affected by the sub-prime mortgage crisis, Walker said. 'The good news is that, so far, there appears to have been little visible impact on the real economy.'
From a Globe and Mail report on this: Crosbie had previously predicted 2007 would be a record year for M&A, a forecast they are still sticking with.
From a National Post report on this: Private equity figured in only four of the top 25 deals announced in the quarter.
From a Canadian Press report on this: There were 520 Q2 M&A deals. 'On the mega-deals segment, do expect things to slow down, but that's not the main part of the market,' said Rick Nathan, president of the Canadian Venture Capital Association. Nathan said there are hundreds of leveraged buyouts which occur when the founder of a C$100-million company retires. The natural buyer is the management team, which steps forward to make an offer.
Canadian Press on first quarter travel to and from Canada (29 August 2007) Canadians took about 3.7 million overnight trips to the U.S. in the first quarter, up 4.8 per cent from the same period in the previous year. Canadians also made nearly 2.5 million overnight visits abroad. That's a first-quarter record, up 11.4 per cent from the same quarter in 2006 when the previous record was set. The top three most visited overseas countries for Canadians were Mexico, the Dominican Republic, and Cuba. Over half a million overnight visits were made to Mexico, an increase of 24.6 per cent from the first quarter of 2006. Visits to the Dominican Republic and Cuba rose 34.1 per cent and 9.8 per cent respectively, with nearly 400,000 overnight visits to each country.
From a Statistics Canada report on this: Overall, travel to Central America rose 31.7%, while travel to the Caribbean increased 17.7% in the first quarter compared with the same period in 2006. Meanwhile, overseas tourists took an estimated 663,000 trips to Canada between January and March 2007, up 7.2% compared with the same period in 2006. Overseas visitors spent an estimated C$930 million in Canada, up 6.4% from the first quarter of 2006.
Statistics Canada on growth of travel to Canada in the second quarter (29 August 2007) Canada's international travel deficit (the difference between spending by Canadian residents abroad and spending by foreigners in Canada) slipped to an estimated C$1.7 billion in the second quarter. This was a decline of C$131 million from the first three months of 2007. The deficit dropped for the second consecutive quarter since the fourth quarter of 2006. The travel deficit with the United States dropped for the first time in a year in the second quarter of 2007. Travellers from the United States spent C$2.1 billion in Canada in the second quarter, up 4.4% from the previous quarter. American residents took 3.4 million overnight trips in the second quarter, up 3.7% from the first quarter. Travel from overseas countries is more popular than ever, as the two highest quarterly levels on record were reached in 2007. In the second quarter, over 1.1 million tourists from overseas countries visited Canada.
The Victoria Times Colonist - Ottawa gives millions for new trail along E&N (29 August 2007) A C$12-million cycling and pedestrian trail next to the E&N Railway was announced. The 17.5-kilometre trail will connect with the Galloping Goose and Lochside regional trails, and meet up with the proposed south end of the Trans Canada Trail that will extend over the Malahat. The new trail is expected to encourage more people to park their cars and cycle or walk to work from new trail access points in Esquimalt and View Royal. The federal government will contribute C$11.3 million, while the Capital Regional District is expected to provide the remaining C$700,000. A major hurdle was overcome when Canadian Pacific Railway handed over ownership of the 234-kilometre railway between Victoria and Courtenay to the Island Corridor Foundation, a partnership of First Nations and municipal governments along the E&N line. 'Now it will be significantly used as a community asset contributing to the wellness, health and joy of living in this part of the world,' View Royal Mayor Graham Hill said. Denise Blackwell, Capital Regional District chairwoman, called the news incredible. 'It adds to the livability and the environmental sustainability of the region.'
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
For further information on creating invincibility for your nation, please visit: www.globalgoodnews.com/invincibility.
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