The Great Lakes need a new maritime strategy — and fast

/
The Great Lakes need a new maritime strategy — and fast

Untapped economic potential and environmental concerns are the driving forces behind a new maritime strategy for the Great Lakes, the first of its kind.

“In order to remain competitive in today’s global markets, we need to improve and expand the Great Lakes-St. Lawrence maritime transportation system,” Premier Kathleen Wynne said when she announced the strategy along with Michigan Gov. Rick Snyder on June 15.

The Great Lakes regional economy was worth US$5.8 trillion in 2015 and would be the third largest economy in the world if it were a country, according to a recent BMO report. “The economic importance of the region can’t be overstated,” it says.

But not enough is being done to promote maritime transport in the region, says the Conference of Great Lakes and St. Lawrence Governors and Premiers, the organization that produced the maritime strategy. The conference brings together the leaders from Ontario, Quebec, Illinois, Indiana, Michigan, Minnesota, New York, Ohio, Pennsylvania and Wisconsin.

Read More

How the Windstream Energy case affects Canada’s trade future

/
How the Windstream Energy case affects Canada’s trade future

If a U.S. wind-power company has its way, the federal government could end up footing the bill for part of a costly and controversial Ontario energy initiative. The case could renew the conversation around international business conflicts at a time when two major trade pacts are awaiting ratification in Canada.

Windstream Energy, based in New York state, won a contract in 2010 to build 100 offshore wind turbines near Kingston. But less than a year later, the Ontario government halted all offshore wind-power development, claiming it needed more time to study the potential risks of such projects.

The company says the provincial government acted in “an arbitrary and political manner.” Rather than pursuing its case with the province however, Windstream is demanding $475 million from the federal government under a provision of the North American Free Trade Agreement that allows companies to sue Canada over government measures that interfere with investments.

Read More

Canadian companies have a big new ally in the fight against cyber crime

/
Canadian companies have a big new ally in the fight against cyber crime

Businesses in Canada will soon have a new network to guard against cyber crime, which is costing them more than $3 billion a year.

Nine major Canadian companies, including the big telcos and some of the Big Five banks, along with the Canadian Council of Chief Executives on Friday announced they are forming the Canadian Cyber Threat Exchange (CCTX), a non-profit organization that will allow firms to share information amongst themselves, government and research institutes about cyber attacks.

Read More