Commodity prices set for significant rebound in 2016

While commodity prices fell 0.3% in February and 25% year-over-year, the second half of the month saw the beginning of a price rally that is expected to continue throughout 2016, according to Scotiabank’s commodity price index released March 29.

As China’s economy has become less of a concern and the U.S. dollar has grown weaker, the outlook for commodity prices has improved. In March, prices are expected to see a “significant” rally, according to the index, from a decade low.

Read the full article on BIV.com.

Vroom!

Another successful Impact company event at the <b>TBC Indoor Racing</b> to test out our recruiters’ driving skills! We are happy to report that no one was seriously injured, and we now have a better idea of who to watch out for on the road… Just kidding!

The five-year mining bear market is finally coming to an end?

Recent stock markets suggests an end to the mining bear market with the increase of gold and copper prices.

“I think it is possible that the worst is over,” Scotiabank commodities analyst Patricia Mohr said. “It doesn’t mean that prices generally are going to move up in a straight line.”

Mid-January appears to have been the bottom for mining stocks and key commodities like gold and copper. There was a run-up in metals the first week of March.

Mickey Fulp, who writes the Mercenary Geologist newsletter, said it was likely the result of New York-based hedge funds wagering on the market hitting bottom and moving back into commodities.

Gold prices are up 17% since mid-December, and copper, which hit a low of US$1.96 per pound on January 20, has since inched up to US$2.25 – a 15% increase.

Read the full article on BIV.com.

 

Vancouver ranks number one in world luxury real-estate market

Vancouver’s real estate has gained international attention and outranked Shanghai, San Francisco, and Monaco.

Out of 100 international real-estate markets, Vancouver ranks number one in the global luxury retail market.

U.K.–based consultants Frank Knight’s The Wealth Report evaluates the most desired property markets and ranks them on their Prime International Residential Index according to year-over-year growth.

Prices in Vancouver grew by 24.5 percent. The report credits the city’s performance to low supply and a weak Canadian dollar.

Vancouver’s rate was significantly ahead of the city in second place: Sydney, Australia, which had a 14.8 percent annual increase.

Read the full article on The Georgia Straight.

Accounting firm enters business law market

One of the largest accountancy firms has restructured its affiliated law firms, signalizing that accountancy firms are ready to go mainstream with their legal offering in Canada, supporting their clients with corporate reorganizations, mergers and acquisitions, and corporate secretarial services.

“That’s a big move, because none of the other big accountancy firms are doing business law in Canada. They have all spent the last 15 to 20 years out on the periphery doing tax and immigration law, and maybe a bit of trade law. Now EY is moving to the centre, which sets the stage for a big change in this country,” Cameron says. “Law firms should be afraid, very afraid. We’ve all been waiting for it, and now it seems like the accountants finally actually are making their move.”

Janice Wright, the co-founder of Toronto litigation boutique Wright Temelini LLP, says larger law firms in particular should take notice of EY’s branching out, since they are likely to be swimming in the same pool of potential clients. She says multinationals could find EY’s new offering especially attractive thanks to the prospect of a global “one-stop shop” for professional services.

Read the full article on Law Times.

Developer unveils plans for downtown Canada Post

This project is billed as “the largest heritage revitalization project in the city’s history”!

But even without specifics, the message was clear; the post office is here to stay. Its new owner, the B.C. Investment Management Corporation, which purchased the building from the federal government in 2013, plans to build four towers, between 11 and 19 stories, that will more than double the square footage of the complex from 600,000 square feet to 1.5 million square feet. Two of the towers, backing onto Dunsmuir Street, will be residential, with a mix of 650 market rental housing and 200 condominiums.
Designed and constructed between 1953 and 1958 as the West Coast depot for Canada Post, the complex has been cited as an exemplar of postwar modernist architecture and has become a rallying point for heritage activists, regularly making Heritage Vancouver’s Top 10 Endangered list.
Read the full article on BC Business.

B.C. gains 14,000 jobs in February, leads the country in employment growth

The construction sector leads B.C.’s employment growth gaining 34,000 positions in the month of February.

B.C. added 14,100 jobs in February, according to Statistics Canada data released March 11, keeping its unemployment rate steady at 6.6%, compared with 7.3% across Canada.

“B.C. has been the runaway job-growth leader over the past year at a strong 3% year-over-year, almost triple runner-up Ontario’s 1.1% rise,” said BMO chief economist Douglas Porter.

Porter pointed out that only three provinces in the country have seen job gains over the past year, with Quebec being the third (up 0.4%).

Read the full article at BIV.com.

UNBC helps B.C.’s wood building industry hit new heights

B.C. to build a 53 metre wooden building, 18 storeys tall, making it the tallest wooden structure in Canada.

As the world moves toward decarbonization, wood as a building material for highrises and even bridges is gaining in popularity because concrete and steel production generates a considerable amount of greenhouse gases. Moreover, wood sequesters carbon.

Read the full article on Business in Vancouver here.