TORONTO – Five things to watch in Canadian business this week:
China missions: Premier Christy Clark of B.C. and Kathleen Wynne, her Ontario counterpart, both visit China next week as they try to foster stronger trade relationships with the Asian giant. Chinese leaders recently committed to doubling the size of the economy by 2020 from 2010 levels — and both premiers will be seeking to capitalize on those growth ambitions.
Earnings mania: It’s another big week for corporate earnings. Among companies reporting are SNC-Lavalin, Torstar, Quebecor, BCE, Telus, WestJet, Air Canada and TransCanada.
Hydro One IPO: Shares of Hydro One are expected to go on sale on the Toronto Stock Exchange on Thursday at $20.50 each. The Ontario government’s plan to sell 60 per cent of the transmission utility in the hopes of raising $1.66 billion from the sale of the shares has triggered waves of controversy. Wynne has said revenue the sale will generate is needed to fund transit and infrastructure projects, but the province’s budget watchdog has warned it could drive Ontario further into debt in the long run.
Jobs report: On Friday, Statistics Canada will release its eagerly anticipated labour force survey for October. At last check in September, the country’s unemployment rate was 7.1 per cent — the highest it’s been since February 2014 — despite the economy adding 12,000 jobs.
BlackBerry: BlackBerry releases its first device to run on the Android operating system on Friday, as the Waterloo, Ont.,-based company attempts to regain some of its dwindling share of the smartphone market. The BlackBerry Priv, named for its “privacy” features, could mark the company’s final phone if sales of the device fail to live up to expectations and lift its money-losing hardware business above the break-even point.