Conditions in Canadian-owned factories the worst in Honduras

Conditions in Canadian-owned Gildan garment factories are among the worst in Honduras says Reyna Tejada, a former factory worker and representative from CODEMUH, a feminist labour organization. Tejada was in Vancouver to speak at the CUPE-BCconvention, held April 29 to May 2.

Gildan factories produce t-shirts, fleeces and apparel for other companies to put their logos and graphics on. The company currently has contracts for brands such as New Balance and Secret.

Trade Deals Are Giving Corporations the Power to Intimidate Tiny Countries

Alejandro Guevara hasn’t slept. There was a death in La Maraña, and Guevara, the vice president of the community environmental association, spent the night at the wake. Still, he doesn’t skip a beat as he describes recent violence in his small Salvadoran village, running dates and names, his own included. Someone fired shots at Guevara’s home in October 2013. An anonymous person then called to his cell to ask whether anyone in the house had died.

Ethiopians talk of violent intimidation as their land is earmarked for foreign investors

The human cost of Ethiopia’s “villagisation” programme is laid bare by damning first person testimony published on Tuesday.

The east African country has long faced criticism for forcibly relocating tens of thousands of people from their ancestral homes to make way for large scale commercial agriculture, often benefiting foreign investors. Those moved to purpose-built communes are allegedly no longer able to farm or access education, healthcare and other basic services.

Will 'Mining' Watchdog Hold Multinationals to Account?

Mining companies are unique in that they have always had to go where resources are physically located. These areas are often remote, environmentally delicate and inhabited by Indigenous people who will not share equally in the economic benefits of development.

Canadian mining companies' international assets have increased in the past 10 years from a value of $30 billion to $210 billion. In light of these investments, some argue that the environment and communities from where these minerals are extracted have sometimes faced negative impacts. For instance, Hudbay Minerals Inc. is expected to go to trial in Ontario for alleged human rights abuses in Guatemala where it and a former subsidiary operated a nickel mine. The company has denied the allegations and they have not been proved in court.

How America's Favorite Baby-Goat Club Is Helping Big Ag Take Over Farming in Africa

FRANCIS BAAH DIDN'T ALWAYS want to be a farmer. As a little kid growing up in a village outside the small city of Koforidua, Ghana, he watched his father toil in the fields all day to grow corn that his mother bundled to sell at the market. And even after all that hard work, there wasn't always enough money to send Francis and his four siblings to school.

Francis knew what people thought of farming. When an adult was a farmer, it was because he had been lazy in school. Francis was an excellent student; when his parents were able to afford tuition, he was always at the top of his class. He planned to go to university to get a job as a businessman or lawyer.

Apple's U.S. Tax Bill Over Three Years Was $8.4 Billion Lower Than The Company Told Investors: Senate Report

Apple's actual U.S. tax bill is far lower than the company tells investors, according to a Senate panel report.

The Cupertino, Calif. company under fire now for its tax strategy, paid $8.4 billion less in U.S. taxes over a three-year period than the company told investors, according to the report released earlier this week ahead of CEO Tim Cook's testimony before the Senate.

CETA: Provinces Failing To Defend Themselves In Canada-EU Free Trade Negotiations, Says Lawyer

OTTAWA — Canadian provinces are either ill-equipped or incompetent when it comes to defending their rights in a massive and overarching free trade agreement Canada is currently negotiating with the European Union, says a lawyer who has studied leaked drafts of the text.

“The provinces are selling us out and they are not doing their homework,” Steven Shrybman, an international trade and public interest lawyer, told The Huffington Post Canada.

Bombardier Buys Casablanca Property For Aerospace Facility

MONTREAL - Bombardier says it has bought land in Casablanca's tax-free zone near the airport for its new manufacturing facility that is set to open next year.

The Montreal-based aircraft manufacturer said it signed a deal with Moroccan property holding and management company Midparc Investment S.A. for the land in a free zone in Nouaceur.

Bombardier Aerospace president Guy Hachey said the selection of the site for the manufacturing facility is "an important first step" in establishing the world's third-largest aircraft manufacturer in the North African country.

Obama Trade Document Leaked, Revealing New Corporate Powers And Broken Campaign Promises

WASHINGTON -- A critical document from President Barack Obama's free trade negotiations with eight Pacific nations was leaked online early Wednesday morning, revealing that the administration intends to bestow radical new political powers upon multinational corporations, contradicting prior promises.

The leaked document has been posted on the website of Citizens Trade Campaign, a long-time critic of the administration's trade objectives. The new leak follows substantial controversy surrounding the secrecy of the talks, in which some members of Congress have complained they are not being given the same access to trade documents that corporate officials receive.

Breaking ’08 Pledge, Leaked Trade Doc Shows Obama Wants to Help Corporations Avoid Regulations

A draft agreement leaked Wednesday shows the Obama administration is pushing a secretive trade agreement that could vastly expand corporate power and directly contradict a 2008 campaign promise by President Obama. A U.S. proposal for the Trans-Pacific Partnership (TPP) trade pact between the United States and eight Pacific nations would allow foreign corporations operating in the U.S. to appeal key regulations to an international tribunal. The body would have the power to override U.S. law and issue penalties for failure to comply with its ruling. We speak to Lori Wallach, director of Public Citizen’s Global Trade Watch, a fair trade group that posted the leaked documents on its website. "This is not just a bad trade agreement," Wallach says. "This is a '1 percent' power tool that could rip up our basic needs and rights."

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Canada loses NAFTA case against Exxon

Canada has lost a legal battle launched against it by Exxon Mobil Corp. (XOM-N77.92-0.71-0.90%) and Murphy Oil Corp., (MUR-N45.20-1.42-3.05%) two U.S. oil companies who complained that demands by Newfoundland for increased research spending violated the North American free-trade agreement.

A panel of international arbitrators ruled 2-1, with the Canadian appointee dissenting, that rules imposed in 2004 on the oil companies in connection with the Terra Nova and Hibernia oil projects were invalid under NAFTA’s controversial Chapter 11.

Glencore-Xstrata deal meets shareholder opposition

At least two top 10 shareholders in miner Xstrata PLC plan to vote against a takeover by commodities trader Glencore International, threatening the creation of a powerhouse spanning mining, agriculture and trading.

Standard Life Investments and Schroders said on Tuesday the deal, the mining sector’s biggest, to buy the remaining 66 per cent of Xstrata for $41-billion (U.S.), undervalued their shares.

The deal, designed to create a company to rival mining heavyweights such as BHP Billiton and Rio Tinto, needs to be approved by 75 percent of shareholders excluding Glencore, which is barred from voting.

Standard Life, the fourth largest investor in Xstrata, and Schroders together own 3.6 percent of Xstrata, but 5.6 percent of the shares needed for approval, according to Thomson Reuters data. Their stand may persuade others to follow suit.

“I’m in complete agreement with Standard Life and we intend to do exactly the same. This is a fabulous deal for Glencore, it’s probably a great deal for the Xstrata management, but it’s a poor deal for Xstrata’s majority shareholders,” Schroders’ Richard Buxton told Reuters.

Miners Xstrata, Glencore agree to $90B merger

Mining company Xstrata and commodities dealer Glencore agreed to a $90 billion US merger Tuesday that will create the world's fourth largest natural resources company.

The announcement of the terms of the deal comes just a few days after the revelation that the two companies were in discussions about a long-mooted tie-up — merger discussions, codenamed "Everest," have gone on for years.

The mining giant would operate around the world, including major nickel mining and refining businesses in Canada, where Xstrata subsidiary Xstrata Nickel owns the former Falconbridge nickel company in Sudbury, Ont.

The combined company will control a chain of businesses from mining to refining, storage and shipping of basic commodities like coal, copper and corn.

Under the terms of the deal, Xstrata shareholders would receive 2.8 Glencore shares for each of their shares. That represents a premium of 15.2 per cent based on Monday's closing prices. Glencore already had a 34 per cent stake in Xstrata.

The merger is projected to yield cost savings of $500 million in the first full year, primarily in marketing, while creating the world's fourth largest global diversified natural resource company, with operations in 33 countries. It will also give the combined company greater leverage to borrow money for its operations — a key advantage in the high-volume, low-margin commodities business.