Prince Philip
Britain's Prince Philip to retire from royal duties
Prince Philip will retire from royal duties this fall, Buckingham Palace said Thursday. Philip, 95, made the decision himself with the full support of the Queen, Elizabeth II, the palace said in a statement. The royal, known as the Duke of Edinburgh, has suffered from heart disease and other ailments in recent years but has nonetheless maintained a vigorous public schedule.
Clark to target thermal coal even if softwood dispute is resolved
Even if the U.S. softwood lumber dispute is resolved, BC Liberal Leader Christy Clark says she wouldn't change her stance on thermal coal exports. After the U.S. said it would slap a roughly 20 per cent tax on Canadian softwood exports, Clark responded by bringing up thermal coal exports, most of which comes from the U.S. She is threatening to impose a $70-a-tonne tax on exports from B.C. ports, which would result in a major hit for producers since the going rate for thermal coal is $100-a-tonne. The plan has drawn ire from some in Alberta, since thermal coal is shipped from there to the B.C. coast. NDP Leader John Horgan, meanwhile, said his party wouldn't be bound by Clark's threats, but didn't say what measures, if any, he would look to implement.
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Census 2016: Canada's seniors outnumber its children
There are more seniors than children in Canada for the first time in census history. People aged 65 and older make up 16.9 per cent of the country's population, compared to 16.6 per cent for those under 15. If the trend keeps up, nearly 25 per cent of the country will be seniors come 2031, while children would still account for around 16 per cent. But while Canada does have an aging population, its share of seniors is still the lowest in the G7 outside the U.S. And the statistics vary by province: In Alberta, children make up 19.2 per cent of the population, compared to just 12.3 per cent for seniors. Those numbers are nearly flipped around in Atlantic Canada. The growing age gap is also set to pose a problem when it comes to tax revenue for governments: The working-age population fell to 66.5 per cent from 68.5 per cent in 2011.
China detains second Canadian despite plans for extradition pact
A Canadian citizen has been held against her will in China for more than 2½ months for being a follower of the Falun Gong spiritual movement, supporters say. Sun Qian, 51, was born in China and got her Canadian citizenship in 2007. The movement is banned in mainland China, and the Chinese embassy in Ottawa referred to Falun Gong as "an evil cult." It's the second high-profile case in the past few months of a Canadian being detained by the Chinese government. The news comes as the Trudeau government explores the possibility of an extradition treaty with Beijing, which would send alleged fugitives back to China. The country's courts and interrogation methods have been called into question by human rights groups.
Ottawa, provinces consider action against Purdue over opioid crisis
Ottawa and the provinces are considering the possibility of legal action against Purdue Pharma, the maker of OxyContin. The firm's pain pill played a role in triggering Canada's opioid crisis, and going to court would have the aim of recovering millions of dollars that governments have poured into treatment for people addicted to opioids. While there has yet to be any action from governments in Canada, Purdue and three company executives paid out hundreds of millions in the U.S. in 2007 to settle charges that they misbranded OxyContin as less addictive than other painkillers. The discussions among Ottawa and the provinces come after Purdue agreed to pay $20-million to settle a Canadian class-action lawsuit. The 2007 U.S. settlement was for $634.5-million (U.S.).
Home Capital's credit rating slashed again
Home Capital's credit rating has been cut again. Ratings agency DBRS lowered the company's rating from BB to CCC, which is considered one level away from likely default. Canada's biggest alternative mortgage lender decided earlier this week to postpone its quarterly financial results until May 11. The company is in the process of appointing new board members in the hopes of turning around investor confidence. Depositors, which Home Capital relies on to fund its mortgage loans, have been taking out their money. That's forced the firm to set up a line of credit as a temporary stopgap.
NHL PLAYOFF ROUNDUP
Oilers lose to Ducks in OT, Penguins best Capitals
In Edmonton, the Oilers coughed up a two-goal lead, falling behind 3-2, but tied the game late in the third to get it to overtime. However, in the extra period, the Ducks struck early, with Jakob Silfverberg scoring only 45 seconds in to tie the series at two games apiece, with the semi-final heading back to Anaheim for Game 5 Friday night. The Pittsburgh Penguins were without Sidney Crosby, but still managed to defeat the Washington Capitals 3-2 in Game 4 of their second-round playoff series in Pittsburgh Wednesday. Crosby was out with a concussion, suffered in Game 3 of the series. The Penguins now have a three-games-to-one lead on the Capitals.
THE LOOKAHEAD
Obamacare overhaul goes to vote
The U.S. Congress is finally set to vote on a health-care overhaul bill today. The legislation to overhaul Obamacare was put on the back-burner in late March after Donald Trump couldn't get enough Republicans to support it. This time, though, the GOP is convinced it has the votes needed to pass the bill.
MORNING MARKETS
Global stock markets were mixed Thursday with investors turning an eye to the coming presidential election in France. Signs that centrist Emmanuel Macron was heading for victory in the election and reassuring results from HSBC pushed European shares to a near two-year high. Tokyo's Nikkei was closed, but Hong Kong's Hang Seng lost less than 0.1 per cent, and the Shanghai composite slipped 0.3 per cent. In Europe, London's FTSE 100, Germany's DAX and the Paris CAC 40 were all stronger, at between 0.3 and 0.8 per cent by about 5:25 a.m. (ET). New York futures were also up. Oil prices fell for the fourth day in a row, nearing their lowest level since late March after data showed a lower-than-expected decline in U.S. inventories.
WHAT EVERYONE'S TALKING ABOUT
You can thank multiculturalism for Canada's strong population growth
"Seniors outnumber children in Canada for the first time in this country's history. The reason that gets all the attention is the aging of the baby boomers. The more important reason, which is generally ignored, is that Canada's fertility rate (the average number of children per mother) is 1.6, half a baby short of the 2.1 children needed to keep a population stable. Nonetheless, Canada's population grew by 5 per cent between 2011 and 2016, and will continue to grow in the coming decades, reaching 50 million by 2060, thanks to three decades of robust immigration. … Every day we must make the case for a more multicultural Canada. We must agree to do this together. The alternative is stagnation and decline." – John Ibbitson
Baseball, Blue Jays and the long journey into darkness
"Beyond languishing at the bottom of the Major League standings, [the Toronto Blue Jays'] play has become so challenging that, in Friday's game, Jose Bautista...tried to slap-bunt to get on base, winging the bat through the strike zone like a child waving a water noodle before watching the Jays lose 7-4 to the dull, faceless Rays of Tampa Bay. … It's a wonder that a team so good can perform so badly, but this is also something about baseball: psychologically and physically, it's a difficult and fragile sport. We know about the arm injuries and the slumps and the reason why baseball has so many fewer players in its hall of fame than other sports (i.e., it's hard to be great), but the game seems worse than others when it's played badly. … And yet, because they "do this every day," there's always tomorrow, and, really, you never know." – Dave Bidini, author of Baseballissimo and band member of Rheostatics
HEALTH PRIMER
Why this 68-year-old is running her 100th marathon
"It works for me: for my physical and mental health. It's cheaper than a divorce lawyer, and it keeps me from cleaning the bathroom or the oven. And it keeps me honest, in terms of what I eat. But now I really appreciate the community, the social side of it: the people that you meet through running, the friendships that you make, the bonding. I am always the oldest person in the group, and I think it's important, as you age, to not just mix with people of your own age. I like to keep connected with younger people and the future as they see it." – Jane Hodgson, who'll be running in the upcoming GoodLife Fitness Toronto Marathon
MOMENT IN TIME
Last penny leaves the Mint
May 4, 2012: "The humble one-cent circulation coin was a workhorse of Canadian commerce," then-finance minister Jim Flaherty said. But over time, the coin had become a "burden on Canada's balance sheet." Mounting costs of labour, metal and processing meant taxpayers got a 1.6 cent bill every time a shiny new penny was pressed – the only circulated coin to cost more than its face value. Savings from the penny's abolition were estimated at $11-million each year. On this day in 2012, Flaherty took to the manufacturing floor of the Royal Canadian Mint in Winnipeg and pushed the button to stamp one final cent. He pinched the tiny disk with white-gloved fingers to show onlookers, before it was sent on to the Currency Museum of the Bank of Canada. Consumers were urged to donate their own coppers to charity. – Jacqueline Nelson
Morning Update is written by Arik Ligeti.
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