The Canadian business establishment doesn’t part with its cash easily.
Ask Mark Carney, the former Bank of Canada governor, who chided executives in 2012 for guarding a hoard of “dead money,” a barb that became shorthand for the post-crisis disconnect between surging corporate profits and sluggish business investment. The issue remains; Statistics Canada reportedNov. 30 that after-tax corporate profits increased four per cent in the third quarter to a record $325 billion, while business investment declined for the first time since 2016.
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