HUAWEI OVERTAKES APPLE, NOW HAS EYE ON SAMSUNG
CANADA’S ECONOMY ADDS RECORD AMOUNT OF JOBS IN APRIL
CANADA TO BAN ALL INDUSTRIAL ACTIVITIES INSIDE MARINE-PROTECTED AREAS BY 2020
ONEX LOOKS TO TAKE OFF WITH PURCHASE OF WESTJET
In the smartphone race Huawei Technolo- gies Co. has overtaken Apple Inc. to claim the No. 2 spot in the first quarter, moving a step closer to its ambition of displacing Samsung at the top of the podium. Huawei’s been steadily gaining on Apple and Samsung Electronics Co. with an increasing- ly high-end line-up of devices, particularly in its home market of China. Huawei should cling to the No. 2 spot over the rest of 2019, but as we head into 2020 we will be interested to see where the top three stand in the smartphone industry. As we have seen, a lot can happen by the time 2019 is all said and done.
Canada’s labour market delivered a surprise with its biggest one-month employment surge since the gov- ernment started collecting comparable data in 1976. Statistics Canada announced that the country added 106,500 net jobs in April, and the bulk of them were full time and in the private sector. The unexpected increase helped drop the unemploy- ment rate to 5.7 per cent last month, from 5.8 per cent in March. The labour market has seen strong employment numbers since mid-2016 and has remained a bright spot for an economy that has struggled in other areas.
Canada is banning industrial activities inside marine-protect- ed areas (MPAs), including offshore oil and gas development and bottom-trawl fishing, but the prohibition won’t automat- ically apply to activities in fisheries conservation areas desig- nated as marine refuges. The ban includes ocean mining and ocean dumping in MPAs, which are being created to help meet an international commitment to protect 10 per cent of Canada’s ocean and coastal areas by 2020. Fisheries and Oceans Canada (DFO) said that industrial activities banned inside MPAs may be allowed in marine refuges provided they go through an environmental assess- ment process.
WestJet, Canada’s second largest airline operator, is to be snapped up by Onex Corporation, the private equity and credit investor and manager, for $5 billion. Onex approached WestJet in March on this year with the buyout offer. After numerous meetings, the WestJet board of directors determined the deal was in the best interests of the company and recommended that shareholders vote in favour of the transaction. The deal will not be finalized until the shareholders vote to on the deal which is expected in July.
Canada has currently reached 8.2 per cent of the conserva- tion target.
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JUNE 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • JUNE 2019
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