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  • Charting a path to $15/hour for all BC workers November 22, 2017
    In our submission to the BC Fair Wages Commission, the CCPA-BC highlighted the urgency for British Columbia to adopt a $15 minimum wage by March 2019. Read the submission. BC’s current minimum wage is a poverty-level wage. Low-wage workers need a significant boost to their income and they have been waiting a long time. Over 400,000 […]
    Canadian Centre for Policy Alternatives
  • CCPA-BC joins community, First Nation, environmental groups in call for public inquiry into fracking November 5, 2017
    Today the CCPA's BC Office joined with 16 other community, First Nation and environmental organizations to call for a full public inquiry into fracking in Britsh Columbia. The call on the new BC government is to broaden a promise first made by the NDP during the lead-up to the spring provincial election, and comes on […]
    Canadian Centre for Policy Alternatives
  • Income gap persists for racialized people, recent immigrants, Indigenous people in Canada October 27, 2017
    In the Toronto Star, CCPA-Ontario senior economist Sheila Block digs into the latest Census release to reveal the persistent income gap between racialized people, recent immigrants, Indigenous people, and the rest of Canada.
    Canadian Centre for Policy Alternatives
  • CCPA in Europe for CETA speaking tour October 17, 2017
    On September 21, Canada and the European Union announced that the Comprehensive Economic and Trade Agreement (CETA), a controversial NAFTA-plus free trade deal initiated by the Harper government and signed by Prime Minister Trudeau in 2016, was now provisionally in force. In Europe, however, more than 20 countries have yet to officially ratify the deal, […]
    Canadian Centre for Policy Alternatives
  • Twelve year study of an inner-city neighbourhood October 12, 2017
    What does twelve years of community organizing look like for a North End Winnipeg neighbourhood?  Jessica Leigh survey's those years with the Dufferin community from a community development lens.  Read full report.
    Canadian Centre for Policy Alternatives
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M&A 2012

We knew that the takeover of Nexen by CNOOC was big but I at least didn’t realize how big it was till I saw the Wall Street Journal’s list (Jan.2, 2013) of the 25 biggest M&A deals world-wide in 2012 where it ranked 5th and was the largest deal made by a Chinese company.

Canada made the list one more time with the takeover of Viterra by Glencore International of Switzerland (actually Anglo-Swiss) in the 25th spot. Viterra has its origins – as Canadian as they get – in the wheat pools and coops of western Caada. Prairie farmers were notoriously distrustful of the Winnipeg Grain Exchange and of commodity traders in general. So its ironic, and just a bit sad, that Glencore is a multinational commodity trading company – and mining company, which is pretty problematic these days – and is said to be the world’s largest commodity trader, no less. Also in 2012, in the 2nd largest M&A, Glencore acquired another Swiss multinational mining company, Xstrata, in what was called the biggest mining takeover ever.

While presumably of slight interest and consequence to Investment Canada, Glencore indeed has a chequered history. It was created in 1994 by billionaire commodity trader Marc Rich “who was charged with tax evasion and illegal dealings with Iran, but pardoned by Bill Clinton in 2001” as he left office. Glencore is “now owned and runh by Marc Rich’s secretive inner circle of ‘lieutenants’.” (Wikopedia)

RepRisk, a business service that advises stakeholders on the environmental and social risks associated with individual companies, lists on is website “The Most Controversial Mining Companies of 2011.” In a race no-one should want to win, Glencore is ranked 3rd in the world, beating out Canada’s own Barrick Gold in 8th place.

So goes the relentless march of monopoly capital with all its baggage and collateral damage, cannibalizing Canada in the process.

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