TORONTO – Five things to watch this week in Canadian business:
Pipeline talk: The National Energy Board kicks off hearings Monday into the proposed Energy East Pipeline project in Saint John, N.B. If the controversial pipeline proceeds, the port city would be the end of the line for the development, which would ship 1.1 million barrels of crude from Alberta and Saskatchewan for refining. Meanwhile, on Wednesday in Burnaby, B.C., the federal government’s panel reviewing the proposed expansion of the Trans Mountain Pipeline holds a public roundtable.
Valeant Pharmaceuticals: The Montreal-based pharma giant reports its second-quarter results on Tuesday. A year ago, the company’s stock had settled at a peak price of $346.32 on the Toronto Stock Exchange. Now it’s trading at about $30 a share.
There’s the beef: A three-day Canadian beef industry conference begins Tuesday in Calgary, bringing together industry representatives from across the country. Last month, Taiwan lifted its temporary ban on Canadian beef, removing a trade barrier imposed after an outbreak of mad cow disease in Alberta last year. A week earlier, Mexico lifted its decade-long ban on some cattle imports.
Hot housing: Statistics Canada releases the new housing price index for June on Thursday. Recent data suggests the Toronto housing market is getting even hotter while Vancouver is showing signs of cooling down just as a new tax on foreign ownership kicks in.
Earnings-o-rama: Among the companies reporting earnings this week are movie exhibitor chain Cineplex Inc. on Thursday, and grocery and pharmacy chain Metro Inc. and online gambling company Amaya on Friday.