financializer news A weblog highlighting financial topics making news in the international media.

grammar schools: When Cameron resigned as Witney MP – only a few weeks after insisting he planned to stay at least until 2020 – he muttered about not wanting to get in his successor way, according to The Guardian. The immediate speculation was that he was furious that his successor wanted to bring back grammar schools. But then, it is not quite clear which Conservative party is campaigning here: the pro-European, socially liberal party of David Cameron, or the inward-looking, xenophobic small-c conservative Brexiteering party of Theresa May. But there are plenty of grounds for supposing that there is a much more fundamental rift between himself and May. Former Liberal Democrat leader Nick Clegg, campaigning in Witney last week, said he thought Cameron would be mortified by the way his successor trashed his record. He told friends that he didn't want to be another Ted Heath, the party leader deposed in 1975 who sat on the Tory backbenches for 20 years – the embodiment of opposition to Margaret Thatcher. (news.financializer.com). As reported in the news.

growth: Key points:China GDP growth has been stable at 6.7pc for three straight quarters Retail sales and fixed asset investment improved Industrial production fell and missed expectations Over the quarter GDP growth rose 1.8 per cent, the same rate as the second quarter and up from 1.2 per cent in the first quarter, according to Australian Broadcasting Corporation. A National Bureau of Statistics spokesman said the property sector contributed 8 per cent to China January-September growth, according to Reuters. Map: China China economic growth has stabilised at 6.7 per cent in the third quarter, in line with market expectations. Other key monthly data for September from China National Bureau of Statistics were also largely in line with expectations, except for factory output which again disappointed. Industrial production was a substantial miss though, growing at 6.1 per cent, down from 6.3 per cent in the previous month. Fixed asset investment - which is a proxy for property and infrastructure spending - was up 8.2 per cent in the year to September, while retail sales came in at 10.7 per cent growth, a little stronger than August. (news.financializer.com). As reported in the news.

senate committee: However, the outlook for global growth continued to be subdued and downside risks remain across both advanced and emerging economies."Despite the global backdrop, Australia domestic outlook remains largely positive," Mr Fraser told a Senate committee in Canberra on Wednesday."While we are doing reasonably well, we are not guaranteed a strong future."Private investment remained the "missing link", as it is in economies elsewhere in the world, and continues to detract from growth as mining investment continues to fall, according to Nine News Australia. Treasury was alert to the downside risk of building activity declining more quickly than expected once a large construction pipeline was complete, especially in the high-rise apartment market, Mr Fraser said."Low wage growth along with falling exchange rate and low interest rates continue to support the transition in the economy towards the non-mining sector," Mr Fraser said. John Fraser believes the economic outlook is "largely positive" after completing 25 years of uninterrupted expansion. His comments came as the Westpac-Melbourne Institute leading index suggested the economy will expand at an annual rate around three per cent over the next three to nine months."It is the strongest growth since December 2013 and a clear positive for the near-term economic outlook," Westpac chief economist Bill Evans said. Labor force figures for September on Thursday are forecast to show the jobless rate ticking up to 5.7 per cent from 5.6 per cent in August with only a modest 15,000 rise in the number of people employed in the month expected.© AAP 2016Politics Send your photos, videos and stories to can remain anonymous. The economy grew at 3.3 per cent in the year to June. (news.financializer.com). As reported in the news.

atmosphere: The "Schiaparelli" lander, a trial-run for a Mars rover to follow, was meant to touch down at 1448 GMT, after separating from its mothership, the Trace Gas Orbiter , on Sunday, according to Nine News Australia. But contact with the paddling pool-sized lander was lost during its six-minute descent through the Red Planet thin, carbon dioxide-rich atmosphere."It clear these are not good signs," ESA operations head Paolo Ferri said at ground control in Darmstadt, Germany. "But we need more information" before declaring the operation failed. Europe and Russia celebrated placing a robot explorer into Mars orbit today, but ground controllers faced an anxious night searching for the tiny lander it had despatched to the Red Planet surface. Schiaparelli was Europe first attempt at a Mars landing since the British-built Beagle 2 was lost without trace 13 years ago . An update should be ready by 0800 GMT on Thursday, Ferri said. The TGO and Schiaparelli comprise phase one of the Exo Mars mission through which Europe and Russia seek to join the United States in probing the hostile Martian surface. On the upside, flight operations manager Michel Denis announced that the TGO itself, which is to sniff Mars' atmosphere for gases possibly excreted by molecular life forms, had correctly entered Red Planet orbit."It a good spacecraft in the right place, and we have a mission around Mars," he said. (news.financializer.com). As reported in the news.

tsx works: Members of the Toronto Stock Exchange and the Venture Exchange , which represents most of the North American mining investment community, have been on a roadshow in boardrooms across Australia, according to Australian Broadcasting Corporation. The TSX works in the senior equity market while the TSXV is a public venture capital marketplace for emerging companies. Related Story: Traditional commodities still needed to support 'lifestyle' metals Related Story: Diggers and Dealers hear 'death of mining greatly exaggerated'Related Story: Resolute Resources offers dividends in gold as local bullion price soars Map: Perth 6000 The uptick in the mining sector has global investors on the hunt for junior Australian miners and explorers with attractive prospects. Orlee Werthheim, a business development manager for the global mining sector, said both exchanges represented global capital options. "They not only attract Canadian investors, but also we have a large number of international investors, specifically from North America and Europe. "Forty per cent of daily trading volume on TSX actually comes from outside of Canada. "So far this year, 58 per cent of all global mining transactions by public companies were done on our markets." Ms Wertheim said junior miners and explorers were starting to see the benefits of investors being willing to take greater risks. "We're seeing mining starting to pick up again, so before companies were very much putting projects on hold, on care and maintenance, waiting to see what happen, but now more money has become available. "At the beginning of the year, most of the financing was for advanced projects but for the past number of months we've been seeing that trickle down to the junior companies. "Particularly in the precious metals space, gold and silver and as well, in lithium." Australian miner listed on the ASX and TSX West Africa Resources is an Australian gold explorer listed on both the ASX and the TSX. Managing director Richard Hyde said has witness the competition between Australian and Canadian investors and funds. "I've just got back from two conferences in Colorado, a precious metals conference in Beaver Creek and the Denver gold forum in Colorado Springs. Mr Hyde concedes it is more administration but says it gives the company, which has a gold project in Burkina Faso, exposure to more capital. "Their funds are just so much bigger," he said. "I've been on a trip to Vancouver, Toronto and New York. Rural news in your inbox Subscribe to get the national headlines of the day. "The Australian companies that were over there were definitely being courted by the North American brokers, they were obviously discussing dual listing. "I know some of the juniors who're in our space gold are considering it, because there access to more funds and generally speaking, when the markets are up, the North American company valuations are higher than the Australian valuations." West Africa Resources listed on the TSX as a 'back-door listing' to secure Canadian investment. (news.financializer.com). As reported in the news.

aaron p: Republican presidential nominee Donald Trump and Democratic presidential nominee Hillary Clinton speak during their presidential town hall debate at Washington University, Oct. 9, 2016, in St, according to MSNBC. Louis, Mo. Louis, Mo. Photo by Aaron P. Bernstein/Reuters In 2016, 'basic facts' are the subject of major disagreements 10/18/16 12:37 PM—Updated 10/18/16 01:45 PM By Steve Benen The Pew Research Center published an interesting report last week, noting more than 80% of Americans believe partisans not only disagree over plans and policies, but also disagree on 'basic facts.' This was, as the report noted, a widely held belief: Comparably large shares of registered voters who back Clinton and Trump say the two sides are unable to agree on basic facts. Pew findings were well timed. Ironically, one of the only areas of agreement between Democrats and Republicans is that the other side lives in its own reality. (news.financializer.com). As reported in the news.

australian growers: Oysters Australia president Bruce Zippel said with stocks running low, South Australian growers were struggling to keep up with demand. "You know there has been a lot of South Australian oysters sold over this winter, some growers are talking about record sales, just simply because of demand coming through winter and spring, and even in the late autumn. "That just simply came about because of the lack of oysters coming out of Tasmania, so I think at this moment, I think growers are reporting low levels of stock." He said South Australian producers were now under pressure to meet the supply shortfall. "At the moment there are buyers coming out of the woodwork everywhere, according to Australian Broadcasting Corporation. If you have a half decent oyster in South Australia, it is very easy to find a home for it. "We are starting to see a lot of worried buyers in the wholesale level of the oyster market, but there is nothing that we can do about that as we move forward." Coffin Bay oyster grower Joel Davies said when there has been a shortfall in the past they usually bring oysters in from other bays to contract fatten. An outbreak of Pacific Oyster Mortality Disease in Tasmania earlier this year is behind the production shortfall — with poor weather during the winter also a factor for Tasmanian producers. But he said this now can't happen. "People are holding on to their stock, so as a result of that the gaps are certainly going to come fairly thick and fast. "And everyone is trying to do their bit to try and get oysters on to everyone plates going into the best season around Christmas." Topics:rural, fishing-aquaculture, port-lincoln-5606 Contact Brooke Neindorf More stories from South Australia noindex (news.financializer.com). As reported in the news.

veronica simon: The outbreak of violence in the capital Juba last July created a humanitarian crisis in northern Uganda as thousands of South Sudanese sought refugee there, according to Deutsche Welle. For other refugees who have been living in Uganda for years and up to a decade, their hardships are a manifest of their struggle for self-reliance. Since the beginning of October, more than 2,500 refugees arrived in Uganda facing food shortages, inadequate shelter and land to grow crops. Veronica Simon, 40, from Nimule, arrived in July to the recently-built Pagarinya refugee settlement in Adjumani district, northern Uganda. More than 85 percent of the refugees in this recent influx are women and children. Inside the camp, the conditions are adverse. "We don't have enough food and blankets," said the mother of six. (news.financializer.com). As reported in the news.

bottom chart: The following intraday charts from Bespoke Investment Group show that stocks have been fading into the close more times than not, according to Market Watch. Source: Bespoke Investment Group Caption outside of wrapper for normal article images Stocks have been selling into the close lately. What used to be a trend of late-session buying—a trend that had emerged in the wake of the U.K. decision to exit from the European Union on June 23—has morphed into a pattern of selling. During the period dating from Aug. 16 to Oct. 17, in blue , the S&P 500 index SPX, +0.22% has given up its gains, rather than rallying toward the end of the session, demarcated in green. One is around 10:30-11 a.m. Read: Chart watcher: Stop comparing 2016 stock market to 1987 The bottom chart in the graphic drills down into those recent selloffs, pinpointing them to three periods in the day. (news.financializer.com). As reported in the news.

country: The country central bank released a report Monday noting that market analysts estimate Brazil GDP will decline 3.19 percent this year, chinanews.com reported, saying that if this happens the country will see negative economic growth for two consecutive years, according to Global Times China. Photo: IC Even with many attractions, Brazil has difficulties relying on tourism to boost its economy. (news.financializer.com). As reported in the news.

european union: The U.S. dollar was flat against the yen, though it saw a more pronounced move up against both the euro and the Swiss franc, according to Market Watch. The data out of the U.K. helped the pound rebound from recent weakness, though investors see the currency downtrend continuing amid ongoing concerns over the country impending exit from the European Union. The British pound rose sharply against the dollar Tuesday, boosted as a read on U.K. inflation reached its highest level in nearly two years. The pound GBPUSD, -0.0733% was at $1.2293 from $1.2189 late Monday, off its highs of the session, having reached $1.2326 earlier in the day. Annual inflation in August rose to 0.6%. This is some of the best data we've received in nearly two years, and while we're still below the Bank of England 2% inflation target, this suggests that inflation could be poised to go higher, said Naeem Aslam, chief market analyst at Think Forex. Against the euro GBPEUR, -0.1250% the pound was at €1.1201 from €1.1078, a move of 1.1%. The Office for National Statistics said consumer price inflation rose to 1% in the year though September, outstripping expectations for a rise of 0.8% in a Fact Set survey of analysts. (news.financializer.com). As reported in the news.

british menu: Oliver Peyton, who is a judge on the BBC Great British Menu, will remain with the catering company he co-founded in 2005 along with 260 staff, according to The Guardian. No redundancies are expected and it is believed that Sodexo will keep the brand. The business has been split in two, with French catering company Sodexo buying the firm remaining catering contracts while the Peyton family will take charge of its bakeries operation. Sodexo did not say how much it paid, but investors have sustained a considerable loss in the pre-pack administration, where a buyer is found before administration is triggered. Against the backdrop of an increasingly competitive marketplace, the board of Peyton and Byrne believed that the interests of staff and customers would be best served under the umbrella of a larger service provider, the fund said. The Business Growth Fund, which held an £8m majority stake in Peyton and Byrne, is understood to have recouped only a fraction of its investment in the pre-pack deal reached with administrators Deloitte late on Monday night. (news.financializer.com). As reported in the news.

clinton reputation: The Podesta emails blog Emails posted by Wiki Leaks reveal a buttoned-up campaign that analyzes nearly every decision, mirroring Clinton reputation as a methodical and tactical politician, according to CNN. And secret transcripts of Clinton paid speeches behind closed doors on Wall Street have failed to turn up any positions widely different than what she says in public. And it turns out, they're not much different than the external ones. John Podesta, Clinton Campaign Chairman, reads over notes on board Clinton plane at Westchester County Airport on September 27, 2016 in White Plains, New York. Republican nominee Donald Trump has seized on them to portray Clinton as a corrupt candidate. Wiki Leaks has been posting the hacked emails from Podesta almost daily for a little over one week. (news.financializer.com). As reported in the news.

european union: He has advised his US colleagues that the chances of "the populist candidate", Republican Donald Trump, winning the November election are higher than they think, according to Nine News Australia. However, he says he much more concerned about the French presidential election, due in April, because of the overwhelming opposition in France to the European Union."I would probably put that as potentially more market sensitive than the US presidential election," Mr Buckland said at a Citi investment conference in Sydney in Tuesday. Citi chief global equity strategist Robert Buckland says the outcome of the US election next month is highly unpredictable. Mr Buckland said a recent poll showed French sentiment was 60-40 against the European Union, compared to a 50-50 balance in the UK ahead of the Brexit vote."That could be potentially explosive if we have a candidate campaigning, which I suspect we will do, in France in favour of leaving the EU," Mr Buckland added."Now remember it much much more complicated if France leaves than if the UK did because France is a member of the eurozone currency group."Mr Buckland also said he was on "bubble alert", as global shares were in an old bull market but the next big price correction, or bear market, was not yet imminent. Click here for more information. He warned that historically bull markets, like the current one that began in 2009, were prone to bubbles after seven years."I just don't see enough boxes being ticked to tell me that the next sell-off, whenever that happens, is the beginning of the next profound 60 per cent bear market, as opposed to a chance to get in ," Mr Buckland said.© AAP 2016Europe Send your photos, videos and stories to can remain anonymous. (news.financializer.com). As reported in the news.

march: May has announced that she will trigger the article 50 mechanism by the end of March, starting a two-year departure process, according to Xinhua China. Members of Parliament from across the political spectrum in the Houses of Parliament want to be involved in the decision-making. Meanwhile, a new poll by You Gov has revealed that more than half of the British public say the decision should be made by Prime Minister Theresa May. In the High Court a group of individuals are seeking a judgement to force May to hand the decision making to politicians. Wright cited the principle that governments use the royal prerogative in such cases. At the hearing Monday, Attorney General Jeremy Wright said parliament consent is not required for May to start the Brexit process. (news.financializer.com). As reported in the news.

media: Created especially for Simmons by the sports media giant, Grantland was on borrowed time the minute its editor-in-chief was effectively sacked after doubling down in his criticism of NFL commissioner Roger Goodell, also commonly known as the media empire most important client, according to The Guardian. Don Lane and delayed telecasts: the life of an NFL fan in 1980s Australia Ashley Browne Read more Media critics would soon feast on Grantland abrupt closure, but Curtis learned the website fate as he stood in the maternity ward of a hospital celebrating the birth of his daughter Stella. The way former Grantlander Bryan Curtis tells it, it was a pretty simple equation: one day the site founder and most popular writer Bill Simmons was an employee of ESPN, the next day he wasn't. Check your email, read a text from Simmons' short-lived replacement editor Chis Connelly. It pretty much as simple as that. ESPN created Grantland for Bill and when Bill no longer worked for ESPN there was no Grantland, says Curtis, who is in Melbourne for the Sports Writers Festival. (news.financializer.com). As reported in the news.

income-seeking investors: There has been a pullback for the S&P 500 utilities and telecommunications industries after price-to-earnings valuations rose to very high levels: Fact Set Caption outside of wrapper for normal article images But the trend has still been up, with the utilities sector returning 10.2% so far in 2016, in line with the telecommunications sector 10.1% return, according to Market Watch. The benchmark S&P 500 has returned 6.2% . The big theme for large-cap U.S. stocks this year has been the flight to yield and to lower volatility, as income-seeking investors have fewer options in the seemingly eternal low-interest-rate environment. So we've identified six possible value dividend stocks in the S&P 500 Index SPX, +0.22% The companies pass some screens for quality — more on that below — yet their shares have declined this year. So we thought it would be useful to look at which dividend stocks have not risen this year, and then apply a few screening filters to narrow a list of companies for further research and possible investment. Starting with the S&P 500, 106 stocks had dividend yields of at least 3% as of Dec. 31, 2015, according to Fact Set. You might be asking: Why buy a stock that is down for the year The answer: Value-fund managers do it all the time, as potential gains might be higher than for stocks that have already been bid up. (news.financializer.com). As reported in the news.

kabu.com securities: The firm started offering the reward as part of its effort to encourage workers to stay in good health, according to The Japan Times. The virtual currency, stored in a smartphone app, can be used at neighboring restaurants. The project involves group company Kabu.com Securities Co. Bank of Tokyo-Mitsubishi UFJ, another unit of Mitsubishi UFJ, is considering introducing a similar system. It is also provided as a reward for walking, proportionally, for the distance walked. Using location information acquired via smartphones, employees are automatically logged entering and leaving their places of work, with OOIRI virtual currency, issued by Kabu.com Securities, being credited to those who do less overtime. (news.financializer.com). As reported in the news.

points: The CSI 300 Index of the biggest companies traded in Shanghai and Shenzhen rose 1.33 percent to close at 3,321.33 points, according to Global Times China. The Chi Next Index, which tracks the country NASDAQ-style board for growth enterprises, rose 1.40 percent to close at 2,198.14 points. The benchmark Shanghai Composite Index grew 1.40 percent to close at 3,083.88 points, while the Shenzhen Component Index finished the day 1.37 percent higher at 10,797.02 points. About 2,500 stocks rose, while only about 100 stocks fell. Construction projects and brokerage stocks outperformed the market. Almost all sectors rose. (news.financializer.com). As reported in the news.

specialty communications: In all for the September quarter, the company posted a profit of $253.8 million, or $1.06 a share, up from $239.3 million, or 97 cents a share, last year, according to Market Watch. Revenue rose 2.3% to $3.79 billion. The marketing and communications firm said it saw organic revenue grow across all four fundamental businesses, bringing the total global organic increase to 3.2%. Advertising -- which has led results in recent quarters -- rose 3.6%, public relations climbed 4.4%, specialty communications grew 6.2% and customer relationship management edged 1.6% higher. Foreign exchange rates shaved 1.3% off the top line. Omnicom shares, inactive premarket, have risen 9.5% so far this year. Analysts polled by Thomson Reuters had projected earnings of $1.04 a share on $3.8 billion in revenue. (news.financializer.com). As reported in the news.

stock market: The Fukuoka-based firm, known as JR Kyushu, starts trading on the Tokyo Stock Exchange next Tuesday after an IPO set to raise ¥416 billion, according to The Japan Times. JR Kyushu, the world third-largest IPO so far this year, is part of Prime Minister Shinzo Abe efforts to encourage citizens to invest some of their ¥1,700 trillion household savings in the stock market. The rail operator changed hands at ¥2,800 and ¥2,850 a share on Tuesday, a gain of as much as 9.6 percent compared with its initial public offering price of ¥2,600 set Monday, the traders said, asking not to be identified because of company policy. Shares of Line Corp., Japan second-largest IPO in 2016, also jumped in the gray market before starting trading on the Tokyo Stock Exchange, where they closed up 32 percent on their first day. The railway operator will not get any money from the offering. Japan is selling all 160 million shares held by the Japan Railway Construction, Transport and Technology Agency, which fully owns JR Kyushu. (news.financializer.com). As reported in the news.

people: Operation Ronin' saw more than 50 search warrants executed which led to a string of charges laid against 27 people — including trafficking controlled drugs, unauthorised possession of firearms and receiving stolen property, according to Australian Broadcasting Corporation. Sergeant Mark Steel from ACT Policing Crime Targeting Team said a further 15 people were still being investigated. "ACT Policing commenced Operation Ronin to target the link between property offending and the trafficking of illicit drugs ... that predominantly methylamphetamine, commonly known as ice," he said. "Property was seized including five kilograms of illicit drugs, $200,000 in Australian currency, over 20 firearms, half-a-million dollars in stolen property. "Investigations are ongoing, I would expect in the coming months that more people will be put before court." Detective Acting Superintendent Marcus Boorman said there was a well-established link between property crime and drug offences. "The drug trafficking environment does rely on the exchange of stolen property," he said. "Operation Ronin did target a number of what we would call criminal syndicates, so they were organised, however I can't go into specifics as the matters are currently before the courts. "It because of the information supplied to police by the community that we've achieved these significant results." Topics:crime, law-crime-and-justice, canberra-2600, act, australia More stories from Australian Capital Territory noindex Photo: ACT Policing Marcus Boorman says criminal syndicates were targeted in the operation. (news.financializer.com). As reported in the news.

pound: Burberry chief financial officer Carol Fairweather said the drop in the value of the pound had been so significant that tourists coming to the UK were splashing out, with its new satchel-style Bridle bag, the cheapest version of which starts at £1,200, among its current bestsellers, according to The Guardian. The Chinese are very much part of that, but all tourists are up in this quarter, the US as well, she said. The British company said a 30% surge in domestic sales helped counteract weaker performances in important overseas markets such as Hong Kong and a steep fall in orders from department store buyers, particularly in the US. The trench-coat maker said its full-year profits would also receive a £125m boost from the devaluation of sterling as about 80% of its sales are overseas. They are clearly influenced by foreign exchange rates movements but they are also really responding to everything they are seeing in the stores. Despite headline-grabbing initiatives such as making the clothes in last month London fashion week show instantly available online, dreamt up by its chief executive, Christopher Bailey, Burberry is grappling with an industry-wide slowdown. The update did not cheer investors, with Burberry shares ending the day as the biggest faller in the FTSE 100, down more than 7%. The stock was knocked by the decision by Bank of America Merrill Lynch, one of the company house brokers, to cut its rating from buy to neutral , noting that company share price had enjoyed a strong run after hitting a 14-month high on Friday. (news.financializer.com). As reported in the news.

rebel-held parts: According to Defence Minister Sergei Shoigu, the halt in the strikes should help pave way for militants to leave the eastern rebel-held parts of the contested city, according to The Toronto Star. Both Russian and Syrian air raids on Aleppo were suspended on 10 a.m. By Vladimir Isachenkov And Bassem Mroue Associated Press Tues., Oct. 18, 2016 MOSCOW—Russian and Syrian warplanes on Tuesday halted their airstrikes on Syria besieged city of Aleppo in preparation for a temporary pause in the military push that Moscow has announced for later in the week, the Russian defence minister said. Tuesday, Shoigu said. Moscow on Monday announced a humanitarian pause between 8 a.m. and 4 p.m. He described the suspension as a precursor for the opening of humanitarian corridors. (news.financializer.com). As reported in the news.

sentiment reports: However, sentiment reports from business and reports of retail activity have shown little adverse effect recently, according to Xinhua China. But the report warns it is still too early to celebrate the Brexit success, as data from both the post-referendum and the annual Autumn Statement on economic policy expected next month still need to be analyzed. The EY ITEM Club report says the economy "has not fallen off a cliff since the Brexit vote," and commentators have been suggesting that this shows fears about the UK leaving the EU were "overstated." The Brexit vote on June 23 was predicted by many analysts to lead to economic turmoil. So the prevailing mood at this moment, according to the report, is still one of "wait and see." But an economic downturn has been forecast by some, including Peter Spencer, chief economic adviser at EY ITEM Club, who said domestic demand would slow "dramatically" next year, leaving the UK "totally dependent upon exports for growth." He forecast GDP growth to slow from 1.9 percent this year to 0.9 percent next year before picking up to 1.5 percent in 2018. "Brexit is going to take its toll of this economy," said Spencer. The pound has fallen against foreign currencies, notably the euro and the U.S. dollar. He also warned that real problems could occur in exchange rates. "The consumer market is strong, the labor market is strong but the real problem is that low pound -- which is going to mean higher inflation next year which is going to squeeze the consumer," said Spencer. (news.financializer.com). As reported in the news.

wednesday announcement: By Sunny Freeman Business Reporter Tues., Oct. 18, 2016 Canada manufacturing sector brought in a surprising $51.1 billion in August sales — another piece of data signalling a Bank of Canada rate change at Wednesday announcement is unlikely, according to The Toronto Star. Statistics Canada reported a 0.9-per-cent increase in August manufacturing sales on Tuesday. In August, Canadian the food manufacturing sector pumped out a record high of $8.6 billion in sales. It was a surprise to economists, who had expected a jump one-third the size, about 0.3 per cent, according to Thomson Reuters. The rise in output was broad-based, with sales up in 15 of 21 industries, or 69 per cent of the sector. The increase in the volume of sales was even bigger, at 1.2 per cent. (news.financializer.com). As reported in the news.