TORONTO – Five things to watch this week in Canadian business:
Take a break: Fretting about returning to work Monday? Relax. It’s a holiday for most Canadians, including Bay Street traders. The Toronto Stock Exchange is closed.
Real estate tax: As of Tuesday, foreigners buying property in Vancouver will have to pay a 15 per cent tax. The B.C. government introduced the levy in an effort to cool down the city’s torrid real estate market — two months after saying it wasn’t in favour of it out of concerns it would deter investment from Asia. Concerns are now rising that foreign capital will migrate elsewhere, including Toronto.
Earnings, earnings, earnings: It’s another big week for earnings. Quarterly results are due from numerous corporate giants, including Molson, Saputo, Quebecor, SNC-Lavalin and Canadian Tire.
Bombardier: The Montreal-based manufacturer of planes and trains releases its second-quarter results Friday. Bombardier, which has been the focus of much public attention as it makes a push to sell its CSeries passenger jets, is still awaiting response from Ottawa for its request for federal funding.
Jobs: The monthly jobs report for July comes out Friday. The unemployment rate dipped in June to 6.8 per cent, but any enthusiasm was dampened due to several factors including a loss of jobs and the fact that fewer people were looking for work.