Article content

Good morning!

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Posthaste: Why Canada’s no longer among world’s 10 most competitive economies, BMO's miss and what the MLSE did next Back to video

Canada is now the world’s 13th most competitive economy, Switzerland-based IMD Business School said in its annual rankings of 63 economies. It’s better than what Germany, Australia and the United Kingdom could muster, but it’s still a three-point drop from last year’s survey, and we can no longer boast of being among the world’s 10 most competitive economy. The IMDB complained that Canada’s educational system had “minimal capacity” to react to the rapidly-changing needs of high-growth sectors like technology, and also penalized it for its unattractive tax regime and “low competency of government” — Ouch!

Canadian Natural Resources Ltd. snapped up Devon Energy Inc.’s Canadian oil and gas assets for $3.8 billion, which likely fell short of at least one analyst’s expectations who had pegged their value at $9 billion.

No less than 25 economists believe Bank of Canada will maintain interest rates at its latest meeting at 10 a.m. ET in Ottawa. But if you are looking for heated debate and controversy, stay in the capital where Amazon and Microsoft executives will be grilled by the International Grand Committee on Big Data, Privacy and Democracy.