Canada GDP grows slowly at 1.8 per cent in 4th quarter of 2011

The growth was in line with what economists had predicted. Although consumer spending and business investment was stronger foreign trade slowed. The strong dollar and economic slowdowns especially in Europe no doubt contributed to this result.

The third quarter growth rate was stronger at 4.2 per cent according to Statistics Canada. In the fourth quarter export growth declined from 16 per cent to 4.6 per cent while imports rose 2.2. per cent.

Manufacturers are struggling with a high Canadian dollar and also weak demand. However energy companies such as Enbridge are doing well as the demand for energy increases. For much more see this Bloomberg article.

Canada is the world's tenth largest economy. In the first half of this year the growth rate is predicted to be under two percent according to the central bank's forecast. Global financial problems and weaker demand are the main causes of the slower growth.

Montreal-based company SNC-Lavalin suffers stock decline after questionable payments surface

The Quebec-based company has started an investigation into payments of 35 million dollars in payments on construction projects that are questionable. There is speculation that the payments may be tied to projects that the company had in Libya under the Gadaffi regime.' The payments are said to be undocumented!

After the news the company's stock fell over 20 per cent in value. This is the largest drop in the stock since 1992. Analysts worried that the company reported it was investigating certain other contracts as well.

The head of SNC's construction division has already resigned after his close relations with one of Gadaffi's sons was revealed. The firm suffered 23 million ins losses on Libyan projects once the rebellion forced them to close down. For much more on SNC-Lavalin and its Libyan problems see the full article.