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Small businesses in Alberta haven’t been this pessimistic in years, lobby group says

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Small businesses in Alberta haven’t been this pessimistic in years, according to an industry lobby group who says the oil-price differential is largely to blame — even if prices for Canadian crude have recently recovered.

The Canadian Federation of Independent Business says confidence among its Alberta members plunged in December and January, according to a monthly survey it conducts.

Prices for Western Canadian Select also plunged in late 2018, reaching a low point in late November, and CFIB chief economist Ted Mallett believes that’s related to the sudden shift in business sentiment.

« Because it’s in such recent memory, I think that’s why you saw a decline in optimism happen so quickly this time, » he said.

The CFIB’s « business barometer index » for Alberta plunged more that 15 points over December and January, falling to a level of 37.5 on a scale of zero to 100.

The index measures how CFIB members feel about the future.

Mallett said a score of zero would represent « perfect pessimism » (meaning every member surveyed expects things will be worse for their business in one year’s time) while a score of 100 would represent « perfect optimism. »

A score of 60 or more is usually associated with a growing economy, Mallett said.

The plunge over the last two months marks the sharpest decline in Alberta since the oil crash of late 2014, when the price for crude on world markets was cut roughly in half in a span of six months.

The CFIB’s ‘business barometer’ results for Alberta (in blue) and Canada (in red) over the past decade. (Canadian Federation of Independent Business)

Mallett said the massive oil-price differential that developed in late 2018 had a similar impact.

« The price for Western Canadian Select vis-à-vis WTI caused some big problems and concerns with businesses in the province, » he said.

« A large shift in the economics of oil-and-gas pricing has a big effect on other businesses all the way down the line. »

In an effort to close the differential, the Alberta government took an extraordinary step in December, mandating temporary cuts in the province’s oil production.

On Wednesday, the province announced it was easing those production limits because prices for Canadian crude had recovered to a sufficient degree.

But it’s unlikely business confidence will recover as quickly, Mallett said.

« It takes a long time for optimism to come back, » he said.

And that sentiment can have a broader impact on the entire economy.

The impact of business confidence

The CFIB is a non-profit organization that advocates on behalf of small businesses across Canada.

It has roughly 10,000 members in Alberta, which represents about six per cent of the 175,000 total businesses in the province.

If its members’ sentiments are representative of the broader business community, it could present a problem for the economy as a whole, says Anupam Das, an economist with Mount Royal University.

Business confidence matters, he said, because it affects investment decisions.

If there’s an optimistic sentiment out there, he said, businesses are more likely to hire more workers or expand their capital spending. But if the mood is pessimistic, the fear of losing money can make those investments less likely.

« When that fear comes into people, they start making certain decisions, » Das said.

« So I think the perception — or the fear — is, actually, an important factor. »

Political opinions

Speaking to a gathering of mid-sized city mayors in Calgary on Thursday, United Conservative Party leader Jason Kenney described Alberta’s current business climate as particularly dire.

Kenney said he’s hearing negative things from people who are looking at investing in the province.

« I was, just last night, meeting with the CEO of a global company visiting Calgary with a market cap of $50 billion who told me people aren’t walking away from investing in Alberta — they are running away from investing in Alberta, » Kenney said.

He didn’t name the CEO or the company.

Premier Rachel Notley spoke during an NDP rally in Calgary on Thursday while UCP Leader Jason Kenney addressed a gathering of mid-sized city mayors. (James Young/CBC, Monty Kruger/CBC)

Premier Rachel Notley, also speaking in Calgary on Thursday, said there’s been billions of dollars of new private-sector investment announced in the past couple of months alone and there is « more investment on the way. »

During an NDP rally at the downtown legion, she highlighted Inter Pipeline’s recent decision to go ahead with a $3.5-billion petrochemical project and Value Creation Inc.’s plan to invest more than $2 billion in an upgrading facility aimed at turning bitumen into higher-grade crude that can flow more easily through pipelines.

Both projects came as the result of government incentives aimed at spurring investment and diversifying the economy, Notley said.

« And we’re already seeing results, » she said.

The CFIB surveyed 276 of its Alberta members in December and January.

A random sample of that size would yield a margin of error of about 5.8 percentage points, 19 times out of 20.

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Anglais

Nostalgia and much more with Starburst XXXtreme

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Get a taste of adventure with Starburst XXXtreme based on the legendary NetEnt Game. The nostalgic themes are sure to capture fans of the classic version as they get treated to higher intensity, better visuals, and features. The most significant element of the game is its volatility. Patience will not be an essential virtue considering the insane gameplay, and there is a lot of win potential involved. It retains the original makeup of the previous game while adding a healthy dose of adrenaline. 

Starburst Visuals and Symbols

The game is definitely more conspicuous than before. The setting happens over a 5-reel, 3-row game grid with nine fixed win lines, which function if a succession from the left to the right reel is present. Only those players that that attain the highest win per bet line are paid. From a visual standpoint, the Starburst XXXtreme slots illustrates lightning effects behind the reels, which is not surprising as it is inherited from the original version. Available themes include Classic, Jewels, and Space. The game is also available in both desktop and mobile versions, which is advantageous for players considering the global pandemic. According to Techguide, American gamers are increasingly having more engaging gaming experiences to socialize to fill the gap of in-person interaction. Starburst XXXtreme allows them to fill the social void at a time when there is so much time to be had indoors. 

Starburst XXXTreme Features

Players get to alternate on three features which are Starburst Wilds, XXXtreme Spins, and Random Wilds. The first appears on reels 2,3, or 4. When these land, they expand to cover all positions while also calculating the wins. They are also locked for a respin. If a new one hits, it also becomes locked while awarding another respin. Starburst XXXtreme offers a choice between two scenarios for a higher stake. In one scenario with a ten times stake, the Starburst Wild is set on random on reels 2,3, or 4, and a multiplier starts the respin. The second scenario, which has a 95 times stake, starts with two guaranteed starburst wilds on reels 2,3, or 4. it also plays out using respin game sequence and features. The game also increases the potential with the Random Wilds feature to add Starburst Wilds to a vacant reel at the end of a spin. Every Starburst Wild gives a random multiplier with potential wins of x2, x3, x5, x10, x25, x50, x100, or even x150.

The new feature is sure to be a big hit with the gaming market as online gambling has shown significant growth during the lockdown. AdAge indicates the current casino customer base is an estimated one in five Americans, so Starburst XXXtreme’s additional features will achieve considerable popularity. 

What We Think About The Game

The gambling market has continued to diversify post-pandemic, so it is one of the most opportune times to release an online casino-based game. Thankfully Starburst XXXtreme features eye-catching visuals, including the jewels and space themes. These attract audience participation and make the gameplay inviting. The game also has a nostalgic edge. The previous NetEnt iteration featured similar visuals and gameplay, so the audience has some familiarity with it. The producers have revamped this version by tweaking the features to improve the volatility and engagement. 

That is characterized by the potential win cap of 200,000 times the bet. Starburst XXXtreme does not just give betting alternatives for players that want to go big. The increase of multipliers also provides a great experience. If the respins in the previous version were great, knowing that multipliers can go hundreds of times overtakes the game to a new level. 

Players should get excited about this offering. All of the features can be triggered within a single spin. Whether one plays the standard game or takes the XXXtreme spin route, it is possible to activate all of the features. Of course, the potential 200,000 times potential is a huge carrot. However, the bet size is probably going to be restricted and vary depending on the casino. It is also worth pointing out that a malfunction during the gameplay will void all of the payouts and progress. Overall, the game itself has been designed to provide a capped win of 200,000 times the original bet. 

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Anglais

‘We’re back’: Montreal festival promoters happy to return but looking to next year

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In downtown Montreal, it’s festival season.

In the city’s entertainment district, a musical act was conducting a sound check on stage Friday evening — the second day of the French-language version of the renowned Just For Laughs comedy festival. Tickets for many of the festival’s free outdoor shows — limited by COVID-19 regulations — were sold out.

Two blocks away, more than 100 people were watching an acoustic performance by the Isaac Neto Trio — part of the last weekend of the Festival International Nuits d’Afrique, a celebration of music from the African continent and the African diaspora.

With COVID-19 restrictions continuing to limit capacity, festival organizers say they’re glad to be back but looking forward to next year when they hope border restrictions and capacity limits won’t affect their plans.

Charles Décarie, Just For Laughs’ CEO and president, said this is a “transition year.”

“Even though we have major constraints from the public health group in Montreal, we’ve managed to design a festival that can navigate through those constraints,” Décarie said.

The French-language Juste pour rire festival began on July 15 and is followed by the English-language festival until July 31.

When planning began in February and March, Décarie said, organizers came up with a variety of scenarios for different crowd sizes, ranging from no spectators to 50 per cent of usual capacity.

“You’ve got to build scenarios,” he said. “You do have to plan a little bit more than usual because you have to have alternatives.”

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MELS new major movie studio to be built in Montreal

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MONTREAL — MELS Studios will build a new film studio in Montreal, filling some of the gap in supply to meet the demand of Hollywood productions.

MELS president Martin Carrier said on Friday that MELS 4 studio construction will begin « as soon as possible », either in the fall or winter of next year. The studio could host productions as early as spring 2023.

The total investment for the project is $76 million, with the Quebec government contributing a $25 million loan. The project will create 110 jobs, according to the company.

The TVA Group subsidiary’s project will enable it to stand out « even more » internationally, according to Quebecor president and CEO Pierre Karl Péladeau. In the past, MELS Studios has hosted several major productions, including chapters of the X-Men franchise. The next Transformers movie is shooting this summer in Montreal.

Péladeau insisted that local cultural productions would also benefit from the new facility, adding that the studio ensures foreign revenues and to showcase talent and maintain an industry of Quebec producers.

STUDIO SHORTAGE

The film industry is cramped in Montreal.

According to a report published last May by the Bureau du cinéma et de la télévision du Québec (BCTQ), there is a shortage of nearly 400,000 square feet of studio space.

With the addition of MELS 4, which will be 160,000 square feet, the company is filling part of the gap.

Carrier admitted that he has had to turn down contracts because of the lack of space, representing missed opportunities of « tens of millions of dollars, not only for MELS, but also for the Quebec economy. »

« Montreal’s expertise is in high demand, » said Montreal Mayor Valérie Plante, who was present at the announcement.

She said she received great testimonials from « Netflix, Disney, HBO and company » during an economic mission to Los Angeles in 2019.

« What stands out is that they love Montreal because of its expertise, knowledge and beauty. We need more space, like MELS 4, » she said.

There is still not enough capacity in Quebec, acknowledged Minister of Finance, the Economy and Innovation Eric Girard.

« It is certain that the government is concerned about fairness and balance, so if other requests come in, we will study them with the same seriousness as we have studied this one, » he said.

Grandé Studios is the second-largest player in the industry. Last May, the company said it had expansion plans that should begin in 2022. Investissement Québec and Bell are minority shareholders in the company.

For its part, MELS will have 400,000 square feet of production space once MELS 4 is completed. The company employs 450 people in Quebec and offers a range of services including studio and equipment rentals, image and sound postproduction, visual effects and a virtual production platform.

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