MONTREAL — The merger between European railway manufacturers hasn’t ended with Alstom and Siemens, and could eventually see other players such as Bombardier joining the fold, France’s finance minister said Wednesday.Testifying before France’s economic affairs committee, Bruno Le Maire described the Franco-German railway merger as inevitable as the industry consolidates in an attempt to compete with Chinese state-owned CRRC.Pressed by the committee, Le Maire opened the door to Siemens-Alstom integrating with other players present in Europe.“I am convinced that this consolidation will integrate, at the appropriate time, Bombardier (Transportation) and the Spanish manufacturer (CAF),” he said.“My belief is that we will have an industrial overhaul in all sectors that will be much faster than we think.”The minister agreed, however, that this could raise “competition” issues since Berlin-based Bombardier Transportation has large operations in Germany and France.Bombardier (TSX:BBD.B) and Quebec’s Caisse de depot, which owns 30 per cent of Bombardier Transportation, declined to comment on Le Maire’s comments.The alliance between Siemens and Alstom announced last week would create a railway manufacturing giant with 62,300 employees in more than 30 countries. The Paris-headquartered company is expected to generate US$18 billion of annual revenues, twice as much as Bombardier’s railway division.The merger could harm Bombardier Transportation — which was reportedly in talks with Siemens earlier this year — even though some analysts believe the company could continue to do well without a partner.“In a sector where there are three powers, it is better to be one of the two (first) powers,” added Le Maire.“I prefer to be in the position of Alstom allied with Siemens rather than being in that of Bombardier today.”

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first_imgOTTAWA – Canada Mortgage and Housing Corp. says the country’s housing markets remain “highly vulnerable” with evidence of moderate overvaluation and price acceleration.Markets in Toronto, Hamilton, Vancouver, Victoria and Saskatoon are highly vulnerable, the national housing agency said in its quarterly housing market assessment on Thursday.CMHC’s housing market assessment gauges the overall level of risk by evaluating four problematic conditions: overheating, price acceleration, overvaluation and overbuilding.“For Canada, the housing market remains at a high degree of vulnerability,” said Bob Dugan, CMHC’s chief economist on a call with reporters.This comes after the Canadian Real Estate Association’s latest figures showed that the number of homes sold in September climbed for the second month in a row.Earlier this year, home sales across the country saw a slowdown, led by Toronto, after the Ontario government introduced measures aimed at cooling the market. Sales in September were down almost 12 per cent from the record set in March before Ontario announced its housing plan.CMHC noted Thursday that despite the recent easing in Toronto’s resale market, it detected moderate evidence of price acceleration with strong growth in home prices among all housing types.Vancouver’s housing market remained highly vulnerable, CMHC added, with evidence of moderate overheating and price acceleration, and strong overvaluation.Calgary and Edmonton also saw stronger overvaluation, due to rising inventory of complete and unsold homes, Dugan added, noting that vacancy rates in both cities have signalled overbuilding for several quarters.In its housing market outlook, which was also released Thursday, CMHC says that after a boost this year, housing starts are expected to decline by 2019, but remain close to the average level from the last five years.Sales in the existing-homes market are also expected to decline relative to the record level set in 2016, while price growth is expected to slow, CMHC says.“High house prices particularly for single-family homes and rising mortgage rates will bring about some cooling in the pace of housing market activity,” said Dugan.last_img

first_imgNorthern GrooveFest is a one day of fantastic local music at the Stonebridge Hotel, presented by Petron Cellular on Saturday, April 21, 2018.This year the show will feature bands from all over the B.C. Peace including local musician Adam Winn who made the top 100 in the CBC Searchlight contest and Scarlet Sway who made the top 10 ten in that same contest.The show will feature eight local bands from all over the B.C. Peace on one stage: Mostly MayerAdam Winn and BandAirik ClarkSalt and WaterTravis the FarmerRose Prairie RomanceScarlet SwayThe Montney CouleesAnd moreMusicians and bands will play throughout the evening, back to back, which means no stopping the music for at least 5 hours straight!The lineup for the event was created from an overwhelming number of expressions of interest received earlier this year.Tickets are now on sale at or in person at Systems Sound Source.  Tickets are only $25 in advance or $35 at the door. You can also reserve a table of 8 for $30 a ticket.last_img

Almost 10,000 cases and over 400 deaths due to cholera have now been reported in Zimbabwe since the current outbreak of the disease began in August, according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA).Nearly 500 new cases and 23 additional deaths have been reported since yesterday, with the largest increase in cases found in Budiriro and Beitbridge in the country”s south.The UN continues to support the Government respond to the outbreak through water deliveries, education programmes, procurement of medical supplies and constructing latrines.OCHA noted that more health professionals are needed to respond, given the scale of the outbreak, and that poor hygiene awareness and solid waste removal are propelling the increase in cholera infections.Cases of the illness – an acute intestinal infection caused by contaminated food or water – have also been reported in neighbouring Botswana and South Africa, and the health ministries of these two countries and of Zimbabwe have been working with the UN World Health Organization (WHO) to address the spread.WHO and its partners are responding to cases and supporting treatment centres in 26 districts, and the agency has airlifted emergency supplies from its Dubai warehouse.The agency has identified several areas where there are gaps, including detection, response organization and surveillance.It is also planning to dispatch a team – comprising epidemiologists and water and sanitation specialists, among others – to investigate and respond to the outbreak.For its part, the UN Children”s Fund (UNICEF) has over 50 staff dedicated solely to tackling Zimbabwe”s cholera outbreak. The agency is working closely with authorities and along with its partners, has asked for $9 million as part of the UN Consolidated Appeal to address water and sanitation issues. 28 November 2008Almost 10,000 cases and over 400 deaths due to cholera have now been reported in Zimbabwe since the current outbreak of the disease began in August, according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA).

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