TORONTO – The federal government is giving Canada’s three largest wireless carriers two years to bring prices down by 25 per cent and is setting aside spectrum in an upcoming auction in order to further boost competition.
Industry Minister Navdeep Bains said Thursday that the incumbents Bell, Telus and Rogers must reduce prices for their wireless plans in the two- to six-gigabyte range by 25 per cent from where they were at the start of this year.
“Prices have come down in the top tier and bottom tier plans, but in the mid-tier, between the two and six gigabyte space, prices have not come down significantly, and we’re going to follow through on a campaign commitment to reduce prices,” said Bains.
The reductions would see two gigabyte plans fall to $37.50 from $50, while six gigabyte plans would fall to $45 from $60.
If incumbents don’t meet the targets, the government could take action on spectrum allocation or change its policy on whether smaller carriers could use the infrastructure of incumbents, said Bains. The government will also start rolling out quarterly reports to track the progress of the big telecoms in reaching the targets, with the first out in April.
Bell said policies that discourage investment put jobs and innovation at risk and that it’s “the worst time to jeopardize” the wireless industry as it prepares for major investments in 5G network.
Rogers said it operates in a highly competitive market that continues to deliver more affordability and value, and the company is always evolving its services to meet the needs of Canadians.
Telus said it was “extremely disappointing” that the pricing policy only targets the national carriers and that this was “yet another punitive action” by the federal government against the companies that have built Canada’s wireless infrastructure.
The government policy comes as a 2019 pricing report showed regional carriers had plans priced substantially lower than the big three carriers, though the wireless space in Canada has shifted substantially since much of the data was gathered last May.
One of the biggest changes is the shift by the big three to 10 gigabyte wireless plans with no overage penalties, which has helped lead to significant price reductions by the incumbents in numerous categories.
The report noted that between May and September last year, incumbent prices dropped by 30 per cent for two gigabyte plans and 24 per cent for five gigabyte plans.
Prices are already down by more than 25 per cent from the levels used by the Liberals in their campaign platform last fall, noted industry analyst Mark Goldberg.
“I think there was a missed opportunity for the government to declare victory, that prices have fallen by more than the 25 per cent that were in the Liberals’ campaign material.”
He said that while it’s not yet clear what kind of pressure the further reduction will put on companies, the policy puts pressure on infrastructure spending for the big three.
Bains, however, maintains that prices are still too high in the two- to six-gigabyte range that makes up about 40 per cent of subscriptions.
“Many Canadians fall within this range, and this is the area where we need to see prices going down,” he said.
He says that for the upcoming auction of 3500 MHz band wireless spectrum, the government will set aside 25 per cent of the 200 MHz on offer for smaller and regional competitors, where space allows, to further foster competition.
Big telcos have said these allocations for regional carriers drive up their costs, which they have to pass on to customers, but Bains said the set-aside was important.
“We want to make sure we create a level playing field for the regional players, and we believe this set-aside enables them to deploy 5G in a manner that allows them to compete in those key jurisdictions.”
The auction for the spectrum, which is capable of running 5G wireless technology that is up to 100 times faster than 4G systems, is scheduled for Dec. 15 this year.
This report by The Canadian Press was first published March 5, 2020.
Calling the passionate, the curious, and the creative: Staples Canada launches National Hiring Campaign
More than 1,000 associates to be hired across Canada in seasonal, part-time and full-time positions to help make Back to School simply amazing
Richmond Hill, ON, May 17, 2022 – Staples Canada, The Working and Learning Company, has launched a national hiring campaign to fill more than 1,000 positions in stores, supply chain, contact centres, sales teams, print and tech hubs, as well as corporate roles. All open roles are posted at careers.staples.ca with in-person and virtual interviews available at the different locations.
“The back to school season is the most exciting time of year for Staples associates – it’s a time where we get to connect with our customers to enable their success, and inspire them for months to come,” said Wanda Walkden, Chief Human Resources and Communications Officer, Staples Canada. “We’re invested in bringing in the best and brightest talent to inspire our customers and our communities, while also helping our associates further their own development and growth.”
Staples currently employs more than 11,000 associates across Canada within a variety of roles and locations. The company has presence in every province and the Northwest and Yukon territories. All locations are looking to fill a variety of roles.
Joining Staples comes with a number of benefits, which include:
· Associate support: Staples offers extensive wellness benefits that are designed to support the physical, mental and financial well-being of associates. These include an employee and family assistance program, retirement savings plans with an employer match, performance bonuses, associate discounts, and more.
· Diversity, Equity and Inclusion: Staples is committed to creating an inclusive and diverse work environment where each associate can bring their whole authentic self to work. Staples associates can join Business Resources Groups; groups that are by associates for associates and focus on various DE&I initiatives through partnerships, awareness and education.
· Learning and development opportunities: At Staples, learning and development is a priority for all associates, with many opportunities for cross-department training, and leadership development programs in place to aid professional growth.
- Educational support: Each year, scholarships are awarded through the Staples Canada Annual Academic Scholarship Program to associates or children of associates attending post-secondary education. The company also offers tuition reimbursement for full-time associates to further their education.
- Ability to make an impact: Each year, Staples associates partner with organizations like MAP, and take on local charitable giving initiatives including the School Supply Drive during back to school, as a continued commitment to communities across Canada.
All 300+ stores and Supply Chain, Contact Centres, Sales Teams, Print and Tech Hubs and, Corporate locations across Canada are participating in the national hiring campaign; visit careers.staples.ca to learn more and find the perfect job near you.
Staples Canada is The Working and Learning Company. With a focus on community, inspiration and services, the privately-owned company is committed to being a dynamic, inspiring partner to customers who visit its 300+ locations and staples.ca. The company has two brands that support business customers, Staples Preferred for small businesses and Staples Professional for medium to large-sized enterprises, as well as six co-working facilities in Toronto, Kelowna, Oakville and Ottawa under the banner Staples Studio. Staples Canada is a proud partner of MAP through its Even the Odds campaign, which aims to tackle inequities in communities across Canada and helps make a future that’s fair for everyone. Visit staples.ca for more information or get social with @StaplesCanada on Facebook, Twitter, Instagram and LinkedIn.
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Kathleen Stelmach, Staples Canada, 905-737-1147 Ext. 578, firstname.lastname@example.org
Noah Gomberg, Golin, 647-475-4721, NGomberg@golin.com
Gas prices set to drop in the GTA – CP24 Toronto's Breaking News
Drivers are set to get some relief at the pumps as gas prices are set to drop 13 cents per litre by Friday.
Average gas prices hit $209.9 per litre on Wednesday in southern Ontario, marking a new record high and a whopping 12-cent rise since last Friday.
However, President of Canadians for Affordable Energy Dan McTeague says prices are set to drop three cents to 206.9 per litre as of midnight and then 10 another 10 cents to 196.9 per litre by Friday.
McTeague said that the drop in prices is being driven by the unease of global markets over a potential recession.
Prices at the pumps have been elevated since late February due to fuel supply shortages amid Russia’s invasion of Ukraine and the international sanctions that have been imposed as a result of the war.
Natural Resources Canada said the average price for regular gasoline in Canada hit $2.06 per litre on Monday, with the most expensive price in Vancouver at $2.34 a litre.
On Wednesday, Statistics Canada reported that the annual inflation rate rose 6.8 per cent year-over year in April. The national agency added that Canadian drivers paid 36.3 per cent more for gas in April compared to a year ago.
-With files from The Canadian Press
Stock markets sell off as inflation fears settle in – CBC News
Stock markets were a sea of red on Wednesday as financial results from major retailers suggested they’re having a hard time dealing with stubbornly high inflation.
The S&P 500 was down by more than four per cent, its worst one-day showing since June 2020 as investors reacted to troubling signs that consumers are slowing their spending in the face of high prices.
Shares in Target shed more than 25 per cent of their value after the retailer said its profit was cut in half because of higher costs and supply chain problems. It was the worst day for Target’s shares since Black Monday in 1987, and it came a day after rival Walmart painted a similar picture the day before.
Walmart’s shares fell by more than 11 per cent on Tuesday and another seven per cent on Wednesday, after the retailer warned of lower profits to come due to higher costs for transportation and wages, as well as supply chain issues. Tuesday’s sell-off was also the biggest one-day plunge in Walmart shares since 1987.
That gloom coming from two cost-conscious retailers sparked investor fears that if they are having problems navigating high inflation, many others must be, too.
“The strength of the consumer will be tested as both Walmart and Target signal rising pricing pressures are not easing,” analyst Edward Moya with foreign exchange firm Oanda said.
The Dow Jones Industrial Average shed almost 1,200 points or more than three per cent and the technology focused Nasdaq lost more than 500 points or more than four per cent.
Since the start of the year, the Dow is down by 14 per cent, the S&P by 18 per cent and the Nasdaq by 28 per cent, data from Bloomberg shows.
“Stocks are crumbling after Wall Street worries about economic growth after hearing a chorus of concerns of higher prices that won’t be easing anytime soon,” Moya said.
Statistics Canada reported on Wednesday that the country’s inflation rate ticked upwards again last month, to a new 31-year high of 6.8 per cent.
While the Toronto Stock Exchange fared better than its U.S. counterparts, it wasn’t immune to the sell-off, losing 389 points, or about two per cent, to close as just over 20,100 points late in the trading day. The benchmark Canadian index has lost about seven per cent of its value since the start of the year, and has been mostly lower of late since topping out at over 22,000 points in April.
“It’s a really rough day out there for stock markets,” Colin Cieszynski, chief market strategist at SIA Wealth Management, said in an interview with CBC News.
“The retailers in particular are starting to get squeezed between rising costs and softening demand,” he said. “We’ve just been seeing a stampede for the exits across stock markets today.”
Tech shares hit hard
Technology shares, which soared earlier in the pandemic as the world went increasingly digital and online due to COVID-19 lockdowns, continue to get hammered.
Apple shares lost six per cent to trade at their lowest level since October. Amazon shares lost seven per cent and the shares are now trading where they were in April 2020. Netflix lost another seven per cent and now trade at their lowest level since 2018.
Canadian tech companies also sold off, with shares in e-commerce firm Shopify, payment processing company Lightspeed and BlackBerry all off by about three per cent.
Cieszynski said the sell-off in technology shares makes sense, because the sector “tends to benefit … when investors are feeling confident and when investors are willing to take on risk.”
“At a time when investors are are retrenching, turning away from risk and going more defensive, [technology] tends to underperform,” he said.
Bitcoin dips below $30,000
Bitcoin was no exception as the world’s largest cryptocurrency continued its plunge, losing another five per cent to trade below $30,000 US for the first time since 2021.
“The speculative cryptocurrency excesses of 2021 may mark a similar fate for risk assets, as when the internet bubble burst in 2000,” Bloomberg Intelligence analyst Mike McGlone said.
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