TODAY ON PRESIDENTIAL ALMANAC** Canada, U.S. (Minimal to No Impact, @PrimeMinCanada, @TransCanada, @QuebecPCBoard, Acasta), Canada (Nearly Enough Relief, @CMPr, ~$4.6bn), U.S. (U.S. DOJ Has No Interest, @CanadianGov, @Commerce, @TransCanada, Canada, AMP)

Revamped ad spending as a key driver of consumer spending. The Canadian Retail Council of Canada (CRC), The Media, Entertainment and Broadcast Industries Association of Canada (MERIA), which represents ad agencies and media companies,…

TODAY ON PRESIDENTIAL ALMANAC** Canada, U.S. (Minimal to No Impact, @PrimeMinCanada, @TransCanada, @QuebecPCBoard, Acasta), Canada (Nearly Enough Relief, @CMPr, ~$4.6bn), U.S. (U.S. DOJ Has No Interest, @CanadianGov, @Commerce, @TransCanada, Canada, AMP)

Revamped ad spending as a key driver of consumer spending. The Canadian Retail Council of Canada (CRC), The Media, Entertainment and Broadcast Industries Association of Canada (MERIA), which represents ad agencies and media companies, Canadian Association of Advertising Agencies (CAAA), which represents the advertising industry, and the Canadian Society of Advertising Agencies (CSA) which represents Canadian ad agencies, are all set to meet with Canadian TV channels and streaming services, after heavy trimming in ad spending across several media companies. There is a good chance they will sign on to allocate more money to individual advertising categories. There has been concern that businesses had cut back on TV and ad spending, and as a result, less people are reading paper ads and the value of TV ads have plummeted as they continue to transition to digital platforms. The CRC has been pushing for a form of accountability for online advertising in the form of proving it improves sales. A BROADBAND draft. In an effort to attract investment into digital Canadian companies, the Canadian federal and provincial governments and the U.S. are set to unveil a new broadband Internet plan. The plan will likely detail how to get wireless service to Canadians and how to get services through to remote areas. Consumers who do not have access to internet service will find out how much it will cost and if it will be free. The U.S. government, led by the U.S. Federal Communications Commission and the Department of Commerce, has proposed nationalized online policies similar to Canada’s Internet framework. The Liberals have been in opposition to the plan saying the government should not intervene, but if the plan goes ahead, it could dramatically change the way digital players work in Canada and if foreign-based players are involved in the plan, it could be a surprise to the international tech industry. Keystone XL opposition. President Donald Trump tweeted last week about the need to build a Keystone XL pipeline. President Trump referenced two people in the media — a “60 Minutes” and a “Morning Joe” — he accuses of lying. Other senior Republicans have stated that the pipeline is still a very viable project. Progress is likely to continue as TransCanada Corp., owners of the pipeline, and its regulator of approvals work with Nebraska Gov. Pete Ricketts, who has put the pipeline on hold until Nebraska issues a new draft of approval for the project. The future of the project is in limbo after the U.S. Supreme Court blocked the project in March. Minimal disruption to dovish views on NAFTA. After Canadian Prime Minister Justin Trudeau defended a month-old ban on Canada Goose Parkas, President Trump responded saying he would be watching how the ban plays out. Rather than respond by issuing tough rhetoric, U.S. Commerce Secretary Wilbur Ross remarked that Canada had been taking a few vacations and that there has been no disruption in the supply chain. Richard Graham, CEO of Canucks for Economic Progress (CFEP), called the Canadian government’s response to the controversy over U.S. retail conditions “bland and muted.” The government said Canada would become more reliant on industries like aluminum and steel. However, the government said Canada would continue to work with the Americans on specific issues like NAFTA but added there has been no disruption in the supply chain. Pension plan relief. Pension plans are being rocked by low returns, actuarial testing, and growing regulations. Last month, the Alberta Teachers’ Pension Plan announced its plan to sell its $4.6 billion Acasta Capital portfolio. The Quebec Pension Plan Board announced a similar move in April. Ottawa is set to give pension plans a reprieve from its rules requiring more transparency about their credit losses, suggesting some of the rules are not working. In general, it is expected that any exemptions will be contained in the forthcoming Budget.

**CNS)

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