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A cold dismissal of Canada’s wireless carriers’ pleas

Ottawa has coldly dismissed an impassioned campaign by Canada’s big three cellphone carriers, who want the government to close what they say are loopholes in its wireless policy that could give a massive foreign competitor unfair advantages, reports the Financial Post‘s Christine Dobby. New Industry Minister James Moore updated his website Wednesday with a post on the government’s telecommunications policy indicating the Conservatives plan to “continue to stay the course by ensuring Canadians benefit from a competitive telecommunications industry.” “Our policy has been clear and remains unchanged: greater competition and liberalized investment has meant more choices at lower prices for Canadian families,” Mr. Moore wrote in the five-paragraph post at JamesMoore.org. Telus Corp., BCE Inc. and Rogers Communications Inc. have mounted a co-ordinated public campaign in recent weeks in a bid to convince Ottawa to change its policies around an upcoming auction for wireless spectrum. Their fear is that the rules as they stand will unduly favour U.S. giant Verizon Communications Inc., which is considering an entry to the Canadian wireless market.

Related: Ottawa’s stance on wireless policy unlikely to change despite lobbying efforts – Financial Post

Slow growth for Canada

Canada’s economy continued its slow pace of growth in May — and that drag is likely to worsen before an anticipated summer pickup, reports the Financial Post‘s Gordon Isfeld. Growth was limited to 0.2% during the month, Statistics Canada said Wednesday, supported by service industries like retail and wholesale trade but tempered by weaker oil and gas extraction activity. Nevertheless, May was at least stronger than the 0.1% gain in April and marked the fifth straight monthly increase in gross domestic product. Analysts had forecast growth of about 0.3% in May. RBC chief economist Craig Wright said the report was “a little softer than expected.” Still to come will be the impact on GDP of the Alberta floods and the construction strike in Quebec, he said. “The real issue is what are we going to see in June.” Craig Alexander, chief economist at TD Economics, said “everybody knows June is going to be a weak month. So, the July and August readings on GDP will provide “a better assessment of the trend in growth,” he said. Avery Shenfeld, chief economist at CIBC World Markets, added that “June will be a wildcard.”