Winnipeg Free Press Newspaper Archives Aug 29 2015, Page 44

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Winnipeg Free Press (Newspaper) - August 29, 2015, Winnipeg, Manitoba C M Y K PAGE B7 SATURDAY, AUGUST 29, 2015 B 7 Building the Chartered Professional Accountant designation in Manitoba. Congratulations to the 44 Manitoba CA students who successfully completed the 2015 Uniform Evaluation ( UFE), one of the world’s most challenging professional entrance exams. This was the last offering of the UFE as we transition to the new CPA Professional Education Program. Completion of the demanding education, experience and examination requirements to obtain a professional accounting designation signifies highly regarded competence in one of the most demanding professional business disciplines. Professional accountants bring financial expertise, strategic thinking, business insight and leadership to every organization. With renowned expertise and rigorous professional standards, they are relied upon as trusted business professionals and advisors. The successful candidates for 2015 are: Canada’s Chartered Professional Accountants deliver the expertise today’s businesses need. The unification of Canada’s accounting bodies creates a single CPA profession supporting more than 190,000 globally respected business and accounting leaders. CPAmb. ca Mirza Faraz BAIG Paolo BALLERAS Curtis BATTEN Jewanjot BHULLAR Kayla BLACK Rodolfo CAPISTRANO Florencio CIRIO Corilyn CZEZOWSKI Amy DAVIDSON Geoffrey DAVISON Breanne DELANEY Angela DUONG Tyler ELLIOTT Jerni GAPAS Marisol GIL REYES Satwant GILL Daniel GOLINSKI Emelia GROBLER Daniel HAMILTON Daniel HANNA Kyle HEMENWAY Peter HONG Shi ( Jason) HUANG Sabrina KAUK Patrick KELLY Andrew KRALJEVIC Laura LAGACE Alexander LEVINE Qianying LIN Michael MARK Chukwunonso MOLOKWU Nickolay ORBAK Neil PALACKDHARRY- SINGH Sean PIERCE Bunthan PRAK Darren PUN Dillon QUANG Rufaro SANGARWE Fernan SEGOVIA Emina TANKOVIC Mark TOMIAK Jordan ULRICH Joshua VLASVELD Di ( Tony) ZHANG 204- 942- 6026 1- 888- 942- 6026 info@ firstpeoplesfund. ca Supporting the Manitoba First Nations business community with low cost capital for viable business starts, expansions and acquisitions 102 - 1075 Portage Ave. Winnipeg, Manitoba R3G 0R8 WE HAVE MOVED TO IS NOW: RIGHT NEXT TO THE PERIMETER AND PORTAGE! 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But now, after losing four rounds at the World Trade Organization, the U. S. is seeking arbitration on just how much Canada can levy in punitive tariffs on a wide range of imported goods ranging from meats and wines to communion wafers and office furniture. Quantifying how much damage has been done is more complex than determining whether the labelling law distorts trade. Canada and Mexico want to impose tariffs worth US$ 3.8 billion. The U. S. is suggesting a more appropriate figure is US$ 43.22 million for Canada and US$ 47.55 million for Mexico — or about 2.4 per cent of their claims. The rather gaping discrepancy comes down to the different methods each side used to quantify the damage and a difference of opinion over whether damages include the alleged price- depressing effect on this side of the border. The United States Trade Representative argues — with some validity — the level of damage can’t be calculated solely on price changes and trade flows, as Canada has proposed, because there are a host of other factors that influenced markets during the time COOL has been in force. There was a recession, which influenced people’s buying habits. There is also an ongoing downward trend in beef consumption, egged on in part by record high prices. There were weather shocks such as the 2012 drought, rising feed- grain prices and disease outbreaks such as porcine epidemic diarrhea virus that killed off millions of baby pigs, to name a few. The U. S. also says Canada’s claim of export revenue losses of US$ 1.61 billion is unrealistically high considering Canada’s total export value for affected livestock in 2014 was US$ 1.744 billion. In other words, “ Canada claims the value of its exports would increase 92 per cent if the United States came into compliance. Mexico makes similar claims,” the USTR says, noting that seemingly ignores the needs of Canada’s own domestic processing needs. “ On its face, neither the Canadian or Mexico’s estimate of trade effects appear to be based on the market realities of trade in the North American livestock and meat markets,” it says. Canada is also claiming compensation for domestic price suppression, which the USTR says are not sanctionable under the WTO. It says the rules, as well as precedents set under previous rulings, base sanctions on the value of lost trade, not the effect on domestic prices. Although the House of Representatives has already passed a bill to repeal the law, the U. S. Senate is currently considering a bill that would establish a voluntary COOL scheme. Proponents of the voluntary law say times changed in the food business since COOL was first made into law. Consumers are much more vocal about their right to know where their food is coming from and how it has been produced and handled. As a result, more companies are opting for a fully traceable value chain as part of marketing strategy, which would be hard to challenge under trade law. “ Unless the arbitrator completely throws out the argument made by the U. S., it would appear that the final level of damages will come in well below the $ 3.8 billion Canada and Mexico are asking for,” write Harwood Schaffer and Daryll Ray, economists with the University of Tennessee, in an analysis of the dispute. After years and millions of dollars in legal fees, Canada’s victory in the COOL fight may prove to be a hollow one indeed. Laura Rance is editor of the Manitoba Co- operator. She can be reached at 204- 792– 4382 or by email: laura@ fbcpublishing. com Labelling- law fight far from finished LAURA RANCE RURAL REVIVAL U. S. seeks to limit Canadian damage claims CONFIDENCE among Manitoba’s small businesses has dropped to its lowest level in more than a half- decade, according to a new survey by the Canadian Federation of Independent Business ( CFIB). The federation said in its latest monthly Business Barometer Index report released Thursday Manitoba’s small- business optimism index fell to 53.8 in August from 58.2 in July. That’s the lowest level since June 2010 and well below the five- year average of 63.8. It’s also more than three points below the national average of 56.7. “ Manitoba’s small- business confidence has dropped 11 points in just two months. Clearly, Manitoba’s job creators are having a rough summer,” said Elliot Sims, CFIB director of provincial affairs for Manitoba. “ The latest plunge continues the long- term decline in Manitoba optimism levels that has been ongoing since mid- 2014.” The survey also found only 11 per cent of the businesses surveyed said they expect to add more full- time workers in the next three months. “ That’s also at the lowest level we’ve seem since about this time in 2012,” Sims said. It’s also only one percentage point higher than the number of businesses that said they expect to reduce their number of full- time workers over the next few months. On a more encouraging note, 44 per cent of the respondents said their businesses are in good shape, which is in line with the long- term average. Sims said it’s hard to pinpoint exactly why confidence levels here are so low. But he suspects the weakening global economy and plummeting oil prices are contributing to the malaise. “ We’re going to feel the trickle- down effect here.” The fact the Manitoba government didn’t increase the personal tax exemption in its last budget also likely didn’t help, he added, because it effectively means middle- class families will be paying more in income taxes this year. The federation said Manitoba was one of seven provinces to experience a decline in confidence levels this month. Small- business confidence drops B_ 07_ Aug- 29- 15_ FP_ 01. indd B7 8/ 28/ 15 7: 56: 24 PM

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