scarlet: thank you so much, that was pamela ritchie.point out that markets are continuing to deteriorate. -- s&p is coming very front very close to flatlining on the day. scarlet: coming up, the imf cut its global forecast. we will find out which organization has the most. when you're on hold, your business is on hold. that's why comcast business doesn't leave you there. when you call, a small business expert will answer you in about 30 seconds. no annoying hold music. just a real person, real fast. whenever you need them. so your business can get back to business. sounds like my ride's ready. don't get stuck on hold. reach an expert fast. comcast business. built for business. bloomberg world headquarters, welcome back. i am alix steel. scarlet: i am scarlet fu. let's start with the headlines. mark: a new report says a budget deficit will rise to $544 billion this year. this is an increase over previous estimates and much can be blamed on tax cuts and spending hikes that congress passed last month. the report from the budget office says

pamela ritchie joins us now to explain. ition to the companies paying corporate taxes? pamela: it is. it's in addition to corporal taxes -- corporate taxes paid to the federal government, and then there's the world sea level. it's an interesting one. when taken on the ground, minerals, essentially money needs to be paid back to the province. it's been a long-standing issue over the course of the last several months. energy companies are very concerned about how much more they would have to pay. it looks like they dodged a bullet. they announced that the province of alberta is saying they recognize the oilsands industry is facing existential threat trade because of the u.s. shale boom and the price of oil, and they are not going to lay it on with further or higher royalties. they really have dodged a bullet. it's a bit surprising to all of us watching this. it's been anticipated thing. a 200 page report in the sum of his they are not going to change anything. essentially, there will be a flat rate for conventional oil, within

i want to bring in pamela ritchie, bloomberg canada anger. bombardier this stuck in neutral. ing such a hard time? pamela: it has been a difficult time. this aircraft was launched literally into the air in june the paris airfare. since then they have gotten about 243 orders that are firm. 300 is where they wanted to be by this time of the year. of those 243 orders, only one of them, lufthansa, is a top 20 airline. many of them are very small airline companies around the world. it is not the fanfare that bombardier had imagined. but this jet has been plagued by delay after delay after delay. they were meant to be much farther ahead years ago. they have had bailouts from the federal government, bailouts from the quÉbec government, one very recently. there is the real side of the -- rail side of the bombardier business which is successful but be air business is meant to the future and it has had a tough time nailing down orders. scarlet: in new york, many of them are bombardier cars. alix: i did not know that could when fares go up on the subways we are giving bombardier business

on bank ofng news canada -- i want to get straight to pamela ritchie. the bank of canada has decided not to cut rates for leaving them at .5%. we are watching the loonie down but bouncing up and getting close to the $.69 mark against the u.s. dollar. it has been down 17% over the last year against the u.s. dollar and there was a discussion that they probably needed to do something where there is panic in the canadian market and concern about the price of oil and how the loonie is tracking. the voices over the course of the last day or so have been saying the loonie is falling on its own and it's not needed for the bank of counted -- of canada to devalue the currency. this was to help exporter so more and more voices have been saying maybe it's not needed. consider ising to that fiscal stimulus from the trudeau government is on its way. the campse throughout and before he was elected is for $10 billion in stimulus per year over the next three years. many voices are calling for that to be tripled. the former governor of the bank of canada said it should b

scarlet: good perspective, thank you, pamela ritchie.of dominoes -- some of theoke to heavyweights on their thoughts about the fomc this week. >> if they cut rates, i would be stunned. i would be very surprised if there was an increase. >> potentially they tighten once more this year but i'm not a believer that they tighten for more times. >> march is off the table. even april is shaky. >> i will say one or two. the forward market was way too worried about fed actions. >> growth has been disappointing. now you have this turmoil in energy prices. the fed's credibility was on the line. if they did not do and then, then when? i think they should wait and watch. >> does she have to hold off? think, clearly, on employment continues to maintain these levels. handle one a 4 unemployment. that is extraordinary. also an inflation path to get to 2%. >> one of the things we should do is get the fed out. i think they have caused some of the overreach and the bubble in assets that we are unwinding. i believe the sumer they get out of -- sooner they g

can visit /quicktake.om for more on the bank of canada rate decision come i want to bring in pamela ritchie from toronto. what else did you wind up hearing from the bank of canada today? lots of talk about growth come inflation, oil prices. >> the big take away in terms of fishing through the words of the decision to look for what is ist, generally he says he optimistic, sees nonrelated -- non-energy-related exports picking up. chance of how that was going to go today. we do see traders losing no time in lining up for the next interest rate decision. 50% banking there will be an interest rate cut later this year. 50% thinking by april. this is being pushed on down the road. you mentioned fiscal spending. something on the bright side of things. that was one of the bright stars for 2016. we will not know what the government is planning to spend until the budget is brought down in march. their expectations for it to be bigger than what the election -- david dodd said it should be 40 billion a year. lots of different calls on that front. that is where some of the created, manufactured growth ma

joining us now is pamela ritchie, bloomberg canada's tv anchor.ng to put out millions of dollars to create a keepell, just paid to existing ones producing more. that makes sense. who is the winner in this situation? pamela: the people cleaning the boilers and making sure the boat -- bolts are tightened. they are expected to see the same trend for the for see a bull future. aconanies like a con, -- spent to expand, but they also have a significant maintenance side of things. they are likely to see gains. their stock has done well over the course of the last year there is fiscal spending and they are projected to be a recipient of that. ,n the repair side of things north american energy partners does support services, operation of service lines in western canada. they are down about 31% over the last year. of appeary are more player. they earned 74% of their revenue last year on maintenance and repair. many people think they will do better in the year to come. is one more expected to do quite well. alix: we have seen a futures curve come down so muc

for more, here is pamela ritchie. this pure politics or are there consequences to this review policy change? justin trudeau was elected on a platform that has great regard for the environment. certainly, many of the people that voted for him are hoping he can turn things around on the climate change side of things. this review making pipeline companies put more safety measures when they apply to get a pipeline across the country as well as potentially connecting emissions created to get oil out of the ground to a pipeline being approved to go across -- it is a complicated calculation. nobody is entirely sure how it works, but it has the message that some want to hear. we put the question to john stevenson. >> if we do not get pipelines for taxes in these additional markets, the real will take it away. we think we can still be profitable at certain prices in the future. pamela: but it makes more sense to go by rail. >> yes, about a $10 increase in cost for the producer. that was a clip from peter watson, actually, who

for more, let's bring in pamela ritchie joining us from toronto.to stay independent. what kind of case do they have now? it is standard fare right now where we see these slinging comments back and forth. oilsands saying they reviewed all options. they looked at royalty financing and selling partial parts of the country and by a large, independent is the way to go. is an oilsandse mine. they are mining the oil out of the ground. 37% of the owns property. suncor would like to own 47%. the argument is canadian oilsands does not operate as well as it could. there is not a lot of insider ownership, but i think a lot of people think it is too early to call. thank you very much. it's going to be an interesting story to live up to because at some point, oil prices fall lower. scarlet: resistance in the meantime. tesla shares sliding feeling their biggest intraday drop since october, coming off of news that they had the low end of their shipping goal for 2015. cory johnson joins us from san francisco with the details. to an extent is this a supply issue or

on bank ofng news canada -- i want to get straight to pamela ritchie.o cut rates for leaving them at .5%. we are watching the loonie down but bouncing up and in