denfromoakvillemilton
Senior Member
Winnpeg, Calgary, Edmonton were all the same size. Winnipeg dropped the ball IMO. Calgary will reach 2.2 million people soon I think but thats it.
For Alberta's oil sands to remain cost effective the price of oil must remain high. As i said earlier, should the price of oil hit the 90s level you will see Alberta's economy get hit hard. It's happened before and for anyone to think it can't happen again is ridiculous.
Saudi and several other oil reserves around the world have a cost advantage on Alberta.
Speak to many in the know and they'll tell you the biggest mistake Alberta has done is rely too heavily on oil revenue and not diversify its economy.
this can't be said for the Eastern Provinces...
What do you mean by this? Are you referring to the Atlantic provinces. Because Newfoundland is doing fine despite its government mismanaging everything and anything. And Halifax is set to boom with the navy contracts. PEI is too small to really matter truth be told. It's more of Canada's vacation province. And New Brunswick is moving along fine.
Canada’s financial capital is on track to become one of the largest global banking centers—overtaking London in the number of banking jobs by 2017, according to Moody’s Analytics.
Toronto’s financial district—known as Bay Street after the thoroughfare that cuts through its middle—has 320,000 financial -services jobs to London’s 400,000. But Toronto is expected to add about 100,000 banking jobs between now and 2020, while London is expected to lose a further 30,000 jobs over the same period, on top of the 60,000 positions lost in London during the first two years of the recent financial crisis.
http://www.gfmag.com/archives/146-january-2012/11539-toronto-to-overtake-london-as-a-hub-for-bankers.html#axzz1n61wtlOV
Canada’s financial capital is on track to become one of the largest global banking centers—overtaking London in the number of banking jobs by 2017, according to Moody’s Analytics.
Toronto’s financial district—known as Bay Street after the thoroughfare that cuts through its middle—has 320,000 financial -services jobs to London’s 400,000. But Toronto is expected to add about 100,000 banking jobs between now and 2020, while London is expected to lose a further 30,000 jobs over the same period, on top of the 60,000 positions lost in London during the first two years of the recent financial crisis.
Good. Some Good News for Toronto.
Canadian banks are too timid. No Canadian bank is truly international so far and they are way too conservative (possibly due to right regulation).
Calgary will plateau in importance within 30 years and then decline. Sorry but their power and importance is mostly derived from an outdated and finite technology and resource.
Those numbers seem wildly off base. CIBC, BMO, TD, Scotia and RBC all combined have fewer than 320,000 employees across the entire world.
EDIT: Also, London only claims to have 325,000 financial sector jobs. I think someone at Moody's has confused jobs in downtown Toronto with financial sector jobs in downtown Toronto. So the 10 people behind the counter at Subway in BCE place are counting as financial sector jobs. I would love to be proved wrong, but these numbers sound bizarre.
EDIT 2: I shoud add that this is especially odd to here this week when BMO and McLean Budden laid off a lot of very experienced and well paid staff and RBC was put on credit review for a downgrade and rumours are swirling they are going to gut the Dexia staff when they take over. It has been a very bad week on Bay Street.
I think it was about "financial services", not just banks. Insurance companies such as Manulife, Canada Life should count, as do pension funds, asset management firms. There are many other independent boutique firms outside the big 5 banks, right?
For sure it includes all of those, I just can't wrap my head around there being 300,000 people at those firms in Toronto. I wonder if they are really talking about the GTA and the references to Bay Street are just for editorial flare. I also don't like these results if they include retail banking as Toronto is oversaturated with bank branches. Other cities I have travelled to don't have anywhere near the number that we do. TD must have 30 branches within a 10 minute walk of King and Bay.
What financial firms are still up in NYCC these days? I know Teacher's, Invesco, Franklin and Transamerica are there. Anyone else? Aviva appears to have relocated to Scarborough.