Five things to watch for in the Canadian business world in the coming week + MORE May 10th

BEIJING, China – China’s central bank said Sunday that it is cutting interest rates for the third time in six months to boost the country’s sluggish economy.
Citing “downward economic pressures,” the People’s Bank of China said it would cut the rate on a one-year loan by commercial banks by 0.25 percentage point to 5.10 per cent. The interest rate paid on a one-year deposit was lowered by 0.25 point to 2.25 per cent.
Rates were also cut on Nov. 22 and then again on March 1. The new rates take effect Monday.
The cuts follow reports that trade in April shrank more than expected and that factory employment was weak.
Beijing has introduced a string of tax reductions and other measures aimed at propping up growth.
The latest cuts are expected to reduce financial costs for state companies and are a signal to state-owned banks to boost lending.
The world’s second-largest economy grew 7.4 per cent last year, the lowest growth in more than two decades. The economic slowdown is expected to persist…

TORONTO – Here are five things to look for in Canadian business this week:
AGMs in the oilpatch: Encana Corp., once a natural gas focused firm that’s been getting oilier over the past year or two, reports its first-quarter results and holds its annual meeting on Tuesday. It spent billions last year to acquire Texas oil assets just before crude prices started their steep descent. Western Canadian crude producer Penn West Petroleum Ltd. also holds its shareholder meeting Wednesday following a tumultuous few years — from a major management shakeup to an accounting scandal and the ongoing pain from low crude prices. Last month, Penn West posted a first-quarter net loss of $248 million.
Canadian Pacific Railway: The Calgary-based railway, with a vast North American network, holds its annual general meeting Thursday. Shareholders will likely be eager to hear what Hunter Harrison, the company’s straight-talking, Memphis-born CEO, has to say about safety measures for oil trains and the outlook for crude-by-rail in the downturn…

Photo Illustration by Sarah MacKinnon and Richard Redditt
Summer is coming and, with it, the return of such glorious Canadian traditions as the opening of the cottage and the closing of the ears to the words of our politicians. Before we tune out, let’s check in with where the parties stand, as the October election approaches.
Both the Liberals and NDP are trying to woo middle-class Canadians with lots of steamy talk about tax rates, income inequality and stock-option loopholes. Lately we’ve been witness to a Hollywood montage’s worth of grand gestures of economic seduction, including Liberal Leader Justin Trudeau’s pledge to raise taxes on big earners. It’s just like The Notebook, but with more PowerPoint charts.
The Conservatives, meanwhile, continue to lead in most polls. But there are hurdles that are destined to confront any party seeking a fourth term in office.
For one, the opposition is certain to portray the government as tired and out of touch. For another, after almost a decade, it gets tricky to explain why you haven’t already done all the things you’re promising to do if you win again…