Federal deficit through first eight months of fiscal year totals $9.1 billion + MORE Jan 27th

CALGARY _ Crude-by-rail shippers are being asked to sign multi-year, take-or-pay contracts that guarantee minimum volumes before Canadian Pacific Railway will assign locomotives and crews to help move a backlog of oilsands crude out of Western Canada.
The railway wants its customers to have significant “skin in the game” before it commits to the costs involved in scaling up its oil-shipping capacity, chief financial officer Nadeem Velani told a CIBC World Markets conference webcast from Whistler, B.C., on Friday.
“What we’re looking for, short-term, is to build in some commitments with customers to either commit a certain level of volumes or, you know, have a take-or-pay arrangement where they would pay damages if they didn’t meet those volumes,” he said.
While reporting its fourth-quarter results last week, CEO Keith Creel said CP Rail would only reluctantly add crude-by-rail volumes, fearing the business will end suddenly when new pipelines come on stream as early as 2020 because pipeline transport is generally less expensive…

All signs point to print media getting a much-needed financial assist from the federal government in the next budget.

OTTAWA _ The federal government’s deficit for the first eight months of the current fiscal year was smaller than a year earlier as revenue growth outpaced increases in spending.
According to the latest fiscal monitor, Ottawa rang up a deficit of $9.1 billion for the period from April to November, compared with a shortfall of $12.7 billion in the same months of the previous fiscal year.
The monthly report says revenues were up $8.8 billion, or 4.8 per cent, as an increase in tax revenues was partially offset by a decrease in employment insurance premium revenues.
Program spending increased up $5.8 billion, or 3.2 per cent, reflecting increases in major transfers to persons and other levels of government and direct program expenses.
Public debt charges were down $500 million, or 3.0 per cent, largely due to a lower average effective interest rate.
The government’s fall economic update projected a spending shortfall of $18.4 billion for the financial year ending March 31, down from the $25…

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MONTREAL _ Bombardier Inc. won a resounding victory Friday when the U.S. International Trade Commission eliminated nearly 300 per cent in duties on its C Series commercial jet by unanimously voting against a petition filed by Boeing Co.
Commissioners voted 4-0 that Boeing didn’t suffer harm from prospective imports of C Series planes.
“Today’s decision is a victory for innovation, competition, and the rule of law,” the Montreal-based manufacturer said in a news release moments after the vote was announced.
The decision was a surprise for some observers who expected the commission would side with Boeing even though they believed the company sustained no harm. Even one government official said it wouldn’t be surprised by a loss.
The decision caused Bombardier’s stock to shoot up to its highest level in three years. Shares gained nearly 15 per cent to $3.52 after the ruling.
Bombardier also called it a victory for U.S. airlines and the American travelling public…