/Posthaste: Canada ranks eighth best place to retire, iPhone 11 crowds go missing and nothing cuts oil demand like war

Posthaste: Canada ranks eighth best place to retire, iPhone 11 crowds go missing and nothing cuts oil demand like war

Good morning!

Apple’s iPhone 11 went on sale today, but where are the crowds? Remember when thousands of enthusiasts would camp out in lines around the world waiting to get the latest device. Not any more. According to reports, only a few dozen customers were in line at the Shanghai and Beijing stores this morning. Mind you that may be because more sales have moved online. Pre-sales of the iPhone 11, priced between US$699 and US$1,099, started last week and one Chinese e-commerce site told Reuters that day-one sales on the 11 were up 480% compared to sales of the iPhone XR last year. Still Apple’s performance on this latest offering is being closely watched as the company loses ground to cheaper rivals.

Canada moved up one spot to eighth place in a global ranking of the best places to retire on the planet. The Natixis 2019 Global Retirement Index ranked Canada higher in finances and material well-being, but found that despite improvements in employment and income equality, Canadians are less happy. Threats to retirement include the growing ratio of retirees to active workers, which puts pressure on government services, the tax burden and low interest rates. Canada did get good grades for health with improvements to life expectancy, health expenditure and the proportion of healthcare expenses covered by insurance. So who is beating us on the global ranking? Iceland took top spot, followed by Switzerland, Norway, Ireland, New Zealand, Sweden and Denmark. The U.K. ranks 17th and the United States 18th.

Nothing cuts the amount of oil the world is guzzling like a war. That’s energy economist Peter Tertzakian’s observation as storm clouds once again gather in the Middle East. Six million barrels a day disappeared from oil markets last week after an attack on a Saudi refinery. The last time that happened was 1979 when the Iranian revolution was followed by the Iran, Iraq war. Over the next six years, oil consumption fell 8%. Tertzakian makes the point that environmental concern has not proved as powerful an issue to the public as gas shortages and a spike in prices. Stay tuned.

Here’s what’s you need to know this morning:

  • Parties in SNC-Lavalin case hash out future court date ahead of trial in Montreal
  • Apple iPhone goes on sale in stores
  • Premiers Doug Ford and Jason Kenney will be in Columbus for the 2019 North American Strategy for Competitiveness Continental Reunion where they will meet with business leaders and politicians
  • Liberal Leader Justin Trudeau, makes a policy announcement in Toronto
  • Conservative Leader Andrew Scheer makes an announcement in Saint John, NB
  • Green Leader Elizabeth May makes an announcement on transport infrastructure in Calgary
  • People’s Party of Canada Leader Maxime Bernier participates in an all-candidate media event in Sainte-Marie De Beauce, Que.
  • Today’s Data: Canadian retail sales

They might be small, but they are mighty when it comes to trade. Statistics show that most exporters in Canada are small or medium-sized businesses. The value of goods exported by these companies has grown since 2015 by 12% to $215 billion — 30% of Canada’s overall exports — as smaller companies choosing to export increased 2.5%. They are also big drivers of employment. Small and mid-sized companies provide 70% of Canadian jobs.

— Please send your news, comments and stories to [email protected]. — Pamela Heaven @pamheaven

With files from The Canadian Press, Thomson Reuters and Bloomberg


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