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Squamish Nation’s proposal for a development in Vancouver has doubled in size
An artist rendering of part of the planned Squamish development.Supplied
The Senakw development, to be built on traditional Squamish land by the Burrard Bridge, now includes a plan for 6,000 units of mostly rental apartments in 11 towers. If approved by Squamish members, it would be one of the largest private First Nations investment projects in Canada.
Residents in the area have often opposed buildings of more than a few storeys. But the City of Vancouver would have little influence on this plan, because the Squamish land is not subject to local zoning or bylaws.
“The reasonable expectation my people have is they’ve seen this whole city built up around them with very little benefit. Now they are wanting us to go this far,” Squamish councillor Khelsilem said.
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On China: Staging scenes in Xinjiang; trade tensions with Canada; Huawei’s 5G tech
Chinese authorities are recruiting retirees, teachers and police officers to take part in staged scenes for foreign delegates as part of a bid to counter reports on its mass detentions of Muslims in Xinjiang. One woman says officials offered money to her 79-year-old father – who had stopped praying out of fear – in exchange for his attendance at a mosque that foreigners would be visiting.
A top Canadian trade official is in Shanghai this week as farmers urge progress on a rift between Ottawa and Beijing that has hurt agricultural exports. Steve Verheul, who led North American free-trade negotiations, is expected to discuss issues affecting the pork, beef, canola and soybean sectors during his China trip.
A verdict on Huawei and its 5G technology looms for the Trudeau government. As John Ibbitson writes, “there is no good decision available.” Beijing has detained two Canadians and an estimated million-plus in Xinjiang. But “without China’s cooperation, there can be no hope of combatting global warming, or eradicating extreme poverty, or preserving a rules-based trading system.”
Politics: Liberal cabinet murmurs; May’s resignation; Senate switches
The green economy and climate change will be of greater importance in Prime Minister Justin Trudeau’s new cabinet, sources say. And don’t be surprised to see plenty of movement in minister posts: While Bill Morneau is expected to remain on the finance file, there is talk of born-and-raised Albertan Chrystia Freeland taking on the Intergovernmental Affairs portfolio to address regional tensions.
Elizabeth May’s resignation as Green Party Leader after 13 years at the helm sets the stage for a successor, with a new leader to be selected next October. May will stay on as an MP and plans to run in the next federal election.
Eleven senators are forming a new group, a move some are hailing as the latest step toward a more independent Red Chamber. Members will not be expected to toe the line of a party or the group, but won’t have to shed party affiliations.
Energy: RBC and Saudi Aramco; Canadian crude prices
RBC is the lone Canadian bank helping to underwrite Saudi Aramco’s massive initial public offering expected to raise between US$20-billion to US$40-billion. The decision by RBC, which will be part of a second tier of banks after the likes of HSBC, indicates that oil isn’t affected by the breakdown in Saudi-Canadian diplomatic relations.
The discount on Canadian crude has reached its highest level in nearly a year after a Keystone pipeline spill forced the pipeline’s Alberta-based operator, TC Energy, to temporarily shut the line down. Keystone is one of the primary ways of moving heavy crude to U.S. refineries.
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ALSO ON OUR RADAR
A study on Canadian youth vaping: Provincial bans on e-cigarette sales to minors have slowed youth uptake, a study has found, but teen vaping still increased across the country. Researchers say a ban on flavoured products is needed to reduce vaping’s appeal.
Vancouver cryptocurrency platform in receivership: Einstein Exchange has been put into receivership by the Supreme Court of British Columbia after complaints of customers unable to access a total of roughly $16-million in funds.
MORNING MARKETS
World markets gain: World shares climbed back towards record highs on Tuesday, as hopes that Washington may roll back some of the tariffs it has imposed on Chinese imports rekindled optimism on the global economic outlook. Tokyo’s Nikkei climbed 1.8 per cent, while Hong Kong’s Hang Seng and the Shanghai Composite each gained 0.5 per cent. In Europe, London’s FTSE 100, Germany’s DAX and the Paris CAC 40 were up by between 0.1 and 0.4 per cent by about 5:15 a.m. ET. New York futures were up. The Canadian dollar was above 76 US cents.
WHAT EVERYONE’S TALKING ABOUT
Quebec’s values test is dangerous politics
Amira Elghawaby: “Quebec’s ‘values test’ on new immigrants, which begins Jan. 1, may seem harmless, but many racialized, immigrant community members don’t live happily ever after in Quebec – not when xenophobia and Islamophobia permeate people’s lives, often to devastating impact.” Amira Elghawaby is a writer and human-rights advocate based in Ottawa.
Donald Trump is a terrible person, but that’s not enough to stop him from being re-elected
Globe editorial: “What will matter is whether white, working-class voters in key states believe that a return to adult politics won’t also mean the return of their perceived disenfranchisement and economic isolation. It won’t be an easy sell, unfortunately.”
TODAY’S EDITORIAL CARTOON
(Brian Gable/The Globe and Mail)The Globe and Mail
LIVING BETTER
Stock markets are completely out of touch with reality. Here’s what investors should do next
In this piece, Gordon Pape says comments from the central banks in Canada and the U.S. should be putting investors on edge, despite positive numbers on the TSX and S&P 500.
Bank of Canada Governor Stephen Poloz recently warned of a potential “stagflationary scenario” as tariffs and trade restrictions hurt output.
Pape writes: “I am concerned that, sooner or later, the destructive trade policies of the U.S. administration are going to come back to haunt Americans. Canada may be hit even harder, if Mr. Poloz is right.”
Those concerned about a stock market setback could look at shifting assets from equities to fixed income options like bonds, he writes. But don’t try to time the market, and if you are comfortable with your investment plan, stay with it.
MOMENT IN TIME
First broadcast of CBC Radio’s official time signal
Canada's official time is tracked in this control room inside the National Research Council in Ottawa. (Daniel Gamache/National Research Council)Daniel Gamache/National Research Council
Nov. 5, 1939: In the predigital age, before we were surrounded by devices that keep and constantly display perfect time, cuckoo clocks and pocket watches had a habit of going astray, running fast or slow. So, to keep the country in sync, CBC Radio began broadcasting what would become its longest-running program. The National Research Council Time Signal consists of a series of 300-millisecond “pips,” six to 10 seconds before the hour, then silence, then a one-second tone to mark the top of the hour. It’s not Morse code and does not spell out anything, as many people mistakenly believe. But “the beginning of the long dash,” as the spoken introduction says, indicates the local time and time zone. Based on the NRC’s atomic clocks, which basically replace the pendulum and gears of grandfather clocks with the extremely consistent resonations of cesium atoms – making them accurate to within a few millionths of a second a year – the time signal has punctuated each day like a secular church bell for the past 80 years. – Massimo Commanducci
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