Canada,
European Union to seek closer economic
partnership Prime Minister Stephen
Harper today announced that Canada and the European Union have
agreed to work toward a historic, comprehensive economic
agreement. Office of the Prime
Minister, October 17, 2008
Dion
quits, but to remain at the helm until May Almost a week after his party received its
biggest electoral drubbing since Confederation, Liberal Leader
Stéphane Dion today said his tenure will end at a leadership
convention in May but vowed to steer his party through the
opening of the 40th Parliament next month. Globe and Mail – Canada, October 20,
2008
Canada's
Harper Returned to Power As Prime Minister Canadian Prime Minister Stephen Harper was
returned to power in national elections Tuesday, strengthening
his Conservative Party's position in Parliament but still
falling just short of an absolute majority. Washington Post, October 15,
2008
CalChamber Companies in
the News
"CalChamber Companies
in the News" is a new regular feature in the CalChamber's
Trade Update newsletter, highlighting the international
activities of member companies who have been featured in the
news. If you have an article that you would like to be
featured in this new section, please send it to Abby Browning
(abby.browning@calchamber.com).
General
Mills finds winning recipe for stock gains General Mills Inc. says its stock is up this
year due to cost-saving efforts like trimming the number of
pasta shapes in its Hamburger Helper line. Analysts say it's
because strong brands and product innovation are wooing
consumers and keeping sales robust. San Diego Union Tribune, October 17,
2008
EBay
draws $1 billion from revolving credit facility EBay Inc said Friday it had borrowed $1.0
billion under its revolving credit facility, with funds going
toward its pending acquisition of payments services Bill Me
Later and other general corporate purposes. San Diego Union Tribune, October 17,
2008
Circuit
City shares up on closure report Shares of beleaguered electronics retailer
Circuit City Stores Inc. rose Monday after a report said the
chain may close at least 20 percent of its stores to shore up
its finances and avoid filing for bankruptcy protection.
Citing "several people familiar with the matter," The Wall
Street Journal said the nation's second-largest consumer
electronics chain was considering closing at least 150
locations and slashing thousands of jobs to avert a Chapter 11
filing. Contra Costa Times,
October 20, 2008
Wells
Fargo's push east slowed by defections Wells Fargo & Co., the San Francisco- based
bank that's trying to gain a foothold on the U.S. East Coast,
is losing deposits at takeover target Wachovia Corp. as
customers flee the troubled North Carolina lender.
Contra Costa Times, October 20,
2008
HR
7063 (Sanchez) US and the World Education Act Raises achievement in international education
in elementary schools and secondary schools through grants to
improve teacher competency and to support programs in
international education that supplement core curricula in such
schools, and for other purposes. STATUS: Committee
on Education and Labor
Free Trade
Agreements
California
Coalition For Free Trade The
CalChamber Council for International Trade (CIT) is urging
members of the business community to join (click
here to download membership form) its coalition working to
secure congressional approval of the free trade agreements
(FTAs) with Colombia, Panama and South Korea. Companies or
associations that join the California Coalition for Free Trade
will be included on the rapidly growing list of FTA
supporters. There is no cost to join the coalition, which will
keep members apprised of its activities and how to be
supportive of the FTAs. For more information on the FTAs or to
join the coalition, visit www.calchamber.com/international
U.S.-Colombian
Trade Promotion Agreement A bilateral TPA that
will lower tariffs and foster increased trade between both
countries. This agreement is a critical element of a possible
U.S.-Andean Free Trade Agreement and of the U.S. strategy to
liberalize trade through bilateral, regional and multilateral
initiatives. CalChamber position: Support Status:
Pending Congressional Action Click
here for Additional Information
U.S.-Panama
Free Trade Agreement A bilateral FTA that will
lower tariffs and foster increased trade between both
countries. A U.S.-Panama Free Trade Agreement is a critical
element of the U.S. strategy to liberalize trade through
multilateral, regional and bilateral initiatives. The
agreement will also increase momentum toward lowering trade
barriers and set a positive example for other small economies
in the Western Hemisphere. CalChamber position: Support
Status: Pending Congressional Action Click here for additional
information
U.S.-Korea Free Trade
Agreement A bilateral FTA which will lower tariffs
and foster increased trade between both countries and is a
critical element of the U.S. strategy to liberalize trade
through multilateral, regional and bilateral initiatives.
CalChamber position: Support Status: Pending
Congressional Action Click here for additional
information
California
Change in CA State Trade
Leadership
Garrett Ashley, Under Secretary for
Trade for the CA State Business Transportation and
Housing (BTH) Agency is departing in October 2008.
Under Secretary Ashley’s successor
will be Brain McGowan, Deputy Secretary for Economic
Development at BTH. Mr. McGowan has a team who
look forward to incorporating international trade into
their portfolio. The team has indicated a real interest
and understanding of international trade and is anxious
to continue to move the issue forward.
Here is a link to an “open” letter
sent to Under Secretary Garrett Ashley as a means of
expressing CalChamber CIT support for continuing the
State’s activities in the international arena.
CalChamber
Announces Positions on November Ballot
Measures During its
quarterly meeting on September 5, 2008, the California
Chamber of Commerce Board of Directors considered seven
ballot measures that will appear on the November 4, 2008
General Election ballot.
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