WRLA News

Industry News

Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The profile for global economic growth has improved since the Bank released its January Monetary Policy Report (MPR). Europe is expected to emerge slowly from recession in the second half of 2012, although the risks around this outlook remain high. The profile for U.S. growth is slightly stronger, reflecting the balance of somewhat improved labour markets, financial conditions and confidence on the one hand, and emerging fiscal consolidation and ongoing household deleveraging on the other. Economic activity in emerging-market economies is expected to moderate to a still-robust pace over the projection horizon, supported by an easing of macroeconomic policies. Improved global economic prospects, supply disruptions and geopolitical risks have kept commodity prices elevated. In particular, the international price of oil has risen further and is now considerably higher than that received by Canadian producers. If sustained, these oil price developments could dampen the improvement in economic momentum.

Overall, economic momentum in Canada is slightly firmer than the Bank had expected in January. The external headwinds facing Canada have abated somewhat, with the U.S. recovery more resilient and financial conditions more supportive than previously anticipated. As a result, business and household confidence are improving faster than forecast in January. The Bank projects that private domestic demand will account for almost all of Canada’s economic growth over the projection horizon. Household spending is expected to remain high relative to GDP as households add to their debt burden, which remains the biggest domestic risk. Business investment is projected to remain robust, reflecting solid balance sheets, very favourable credit conditions, continuing strong terms of trade and heightened competitive pressures.

This complete press release is now available on the Bank of Canada’s website: click here

10-digit dialing is coming to Manitoba

Don’t forget to add the code! 10-digit dialing is coming to Manitoba - The countdown has already begun

Starting July 29, 2012, all local communications in Manitoba will need to be dialed using the area code and the telephone number. However, residents and businesses are encouraged to adopt this new dialing mode now, as telecommunications service providers operating in Manitoba are able to support 10-digit dialed calls.

To accommodate 10-digit dialing, various telephone functions and communications equipment will need reprogramming to include the area code to all numbers stored in autodialing devices. Make sure to also add the 204 area code to all local numbers listed in advertising (e.g.: websites and billboards), vehicle signage, databases, and other communication tools.

Starting July 29, local calls dialed with only seven digits will generally be intercepted by a network announcement before being connected. That is why it is important to adopt 10-digit dialing in advance, as the recorded announcement may disrupt data transmission.

Ten-digit local dialing and the addition of a new area code are forward-looking measures that will help the entire communications industry meet the continually growing demand for new services.

RONA Donates $100,000 to Reforest Canada's First Near-Urban National Park

RONA Donates $100,000 to Reforest Canada's First Near-Urban National Park Rouge Valley reforestation project kicks off partnership with David Suzuki Foundation

BOUCHERVILLE, QC, April 16, 2012 /CNW/ - RONA inc. announced today a commitment to reforest what will be Canada's first near-urban National Park - the Rouge Valley. The project is the first initiative of RONA's new partnership with the David Suzuki Foundation (DSF) that supports reforestation in urban areas across Canada. At the end of the partnership, RONA will have donated over $300,000 to these reforestation programs.

The partnership kicks off with tree planting events on May 5 and June 2 hosted by RONA and DSF in the Rouge Valley in Toronto. The Rouge Valley tree planting is open to the public and encourages consumers to help make their community healthy and green. Interested participants can sign up for Rouge Valley tree plantings at local RONA stores or at www.davidsuzuki.org/rouge.

"This partnership is part of our commitment to make sustainability a core tenet to our business. Sustainability guides our choices and governs the way we operate - from our products to our people to our local communities," said Robert Dutton, President and CEO of RONA. "Canadians want to make sustainable choices that limit their own environmental footprint, and we are proud to offer ways for them to do so - one tree at a time."

To read the complete article, please click here.

TIM-BR MART Holds Inaugural Emerging Leaders Summit

On March 26-28, TIM-BR MART held their inaugural Emerging Leaders Summit in Toronto, Ontario. Young leaders from across the country joined the summit to learn about leadership and create a peer group.

Young leaders, 35 years old and under, were invited to question the status quo, grow, and push their boundaries. The summit attracted energetic, enthusiastic leaders that will represent the next generation of TIM-BR MART leaders.

"Our younger generation wants to grow with TIM-BR MART, and TIM-BR MART wants to support them in their development," said Tim Urquhart, TIM-BR MART’s President & CEO. "These young leaders are the future of our group. This summit helped to provide the tools they will need to be successful independent entrepreneurs."

The summit kicked off with an Amazing Race that sent participants searching for clues at the top attractions in Toronto. The next day, the young leaders were in interactive workshops learning new skills and meeting new challenges. In addition to other projects, they worked in teams to implement lean activities and to create an innovative plan to improve efficiencies at their stores.

The next Emerging Leaders Summit will be presented in French, and will be held in conjunction with the Chalifour Expo in October.