KeatsConnelly Cross-Border Weekly Best of the Web 2015-12-11

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week brings a heavy dose of Canadian economic news including a piece on Moody’s expectations for Canada in 2016, then a bleak outlook for oil prices and, finally, an article discussing the slow-down in Canadian tourists to the United States.

Moody’s sticks with ‘negative’ outlook for Canadian banks in 2016 (www.theglobeandmail.com) – Moody’s Investors Service is sticking with its “negative” outlook for Canadian banks in 2016, pointing to challenges emanating from the struggling Canadian economy and a changing regulatory framework in the financial sector – even as the big banks continue to diversify abroad. In its outlook, the credit rating agency pointed to Canada’s high household debt, the vulnerability of consumers with credit card balances and auto loans in a deteriorating economy, and the possibility that the federal government will create a so-called bail-in regime to protect taxpayers if banks fail…

Oil Prices Could Drop to $20 a Barrel Next Year (www.fortune.com) – Oil prices could drop to as low as $20 per barrel next year, according to both an Organization of Petroleum Exporting Countries (OPEC) minister and a Goldman Sachs analyst. Venezuelan Oil Minister Eulogio del Pino said that OPEC could not enter a price war and needed to find a way to stabilize the oil market. “OPEC has to do something very soon … We don’t agree with the position that says the market some way is going to dictate the price of crude oil. We don’t agree with that position of Saudi Arabia,” del Pino said on the sidelines of the Gas Exporting Countries Forum (GECF) Summit in Tehran on Sunday, as reported by Reuters…

Where have all the Canadian tourists gone? Weak dollar keeps them from visiting the U.S. (www.financialpost.com) – Around this time of year, Joel and Lorraine Leydier usually make their annual drive from their home in a small town east of Toronto to Myrtle Beach, South Carolina, where they love watching the beach from the balcony of their hotel, shopping and listening to music at The Carolina Opry. But this year, they’re staying in Canada due to the weak dollar, and other Canadians are doing the same. Visits by the United States’ largest supply of international visitors are forecast to be down by eight per cent this year and another one per cent next year. By comparison, overall international visits to the United States are expected to be up a half per cent this year and up more than 2.5 per cent next year…

Come back in next week for more interesting news and articles. Enjoy your weekend!

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