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Making sense of the markets this week: November 28 + MORE Nov 26th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The greenification commodities supercycle
While there may be a broader commodities supercycle underway, what appears to be more of a sure thing is the green .... More »
Setting expectations important when lending money to loved ones Dec 10th
When a friend or family member asks for money, several thoughts might cross your mind, including whether or not it’s a good idea in the first place. Lending money to close friends or family can be a risky affair. There are chances you may not see that money again, and even worse, it could sour.... More »
3 Platforms Where SMEs Can Invest in Private Equity and Real Estate in Europe Nov 10th
Online marketplaces are all around us: some are B2C marketplaces, such as Amazon and Aliexpress, others are B2B marketplaces, like Global Sources and DHgate.
Yet have you ever seen a platform where small businesses can buy other companies, or parts of them, and even purchase commercial property?
A N.... More »
PC Financial Mastercard review 2022 + MORE Mar 15th
With grocery costs expected to rise between 5% and 7% in 2022, it’s natural to want a card that can earn you some points on that additional spending. If you’ve been collecting PC Optimum points for years, the PC Financial Mastercard could be a good choice for you. This card is designed to help y.... More »
Hudson’s Bay to liquidate entire business, still seeking additional capital - Toronto Star Mar 15th
Hudson’s Bay to liquidate entire business, still seeking additional capital Toronto StarHudson’s Bay to start liquidating stores as early as next week CityNews TorontoHudson's Bay Company nearly $1B in debt, with court filings painting dire financial portrait CBC.... More »
Shares in Concordia Healthcare Corp. soared more than 25 per cent Thursday amid reports that a New York-based alternative asset manager may be eyeing the pharmaceutical company for a possible takeover attempt.
Polymet Mining posts loss of $2.4 million in fourth quarter
– canadianbusiness.com
TORONTO – TORONTO (AP) _ Polymet Mining Corp. (PLM) on Thursday reported a loss of $2.4 million in its fiscal fourth quarter.
The Toronto-based company said it had a loss of 1 cent per share.
For the year, the company reported that its loss widened to $9.3 million, or 3 cents per share.
In the final minutes of trading on Thursday, the company’s shares hit 91 cents. A year ago, they were trading at $1.27.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLM at http://www.zacks.com/ap/PLM
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Keywords: Polymet Mining, Earnings Report
The post Polymet Mining posts loss of $2.4 million in fourth quarter appeared first on Canadian Business – Your Source For Business News.
The Toronto-based company said it had a loss of 1 cent per share.
For the year, the company reported that its loss widened to $9.3 million, or 3 cents per share.
In the final minutes of trading on Thursday, the company’s shares hit 91 cents. A year ago, they were trading at $1.27.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLM at http://www.zacks.com/ap/PLM
_____
Keywords: Polymet Mining, Earnings Report
The post Polymet Mining posts loss of $2.4 million in fourth quarter appeared first on Canadian Business – Your Source For Business News.
Sears to close 78 stores this summer
– canadianbusiness.com
NEW YORK, N.Y. – Sears Holdings Corp. will close another78 stores —68 Kmart units, and 10 Sears stores — as it looks to restore profitability.
That accounts for about 5 per cent of its store base, which is nearly 1,700 stores.
The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday.
All 10 Sears stores and nearly all the Kmart stores will close in late July. Two Kmart stores will close in mid-September.
“The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability,” said Edward S. Lampert, chairman and CEO of Sears Holdings in a statement…
That accounts for about 5 per cent of its store base, which is nearly 1,700 stores.
The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday.
All 10 Sears stores and nearly all the Kmart stores will close in late July. Two Kmart stores will close in mid-September.
“The decision to close stores is a difficult but necessary step as we take aggressive actions to strengthen our company, fund our transformation and restore Sears Holdings to profitability,” said Edward S. Lampert, chairman and CEO of Sears Holdings in a statement…
Judge wants jailed tycoon to reveal fate of diverted cash
– canadianbusiness.com
BILLINGS, Mont. – A federal judge demanded that a jailed former billionaire reveal what happened to hundreds of millions of dollars he diverted from a luxury mountain resort, raising the prospect that a decadelong legal saga could be coming to an end.
The order for the first time requires Tim Blixseth to file a complete inventory of assets his legal adversaries have been chasing since 2008, when the Yellowstone Club near Big Sky, Montana, went bankrupt.
It is due Friday, but a Blixseth attorney said he will ask the court for an extension because he has been ill and unable to consult with his client. The financial documents most relevant to the order are in storage in California, so Blixseth will “have to do whatever he can from memory,” attorney Phillip John DeFelice said.
Courts have previously ruled that Blixseth fraudulently transferred $286 million for his personal use from a 2005 Credit Suisse loan intended for the club.
The private ski and golf resort, founded by Blixseth and his ex-wife, attracted elite members, including Microsoft co-founder Bill Gates and former Vice-President Dan Quayle…
The order for the first time requires Tim Blixseth to file a complete inventory of assets his legal adversaries have been chasing since 2008, when the Yellowstone Club near Big Sky, Montana, went bankrupt.
It is due Friday, but a Blixseth attorney said he will ask the court for an extension because he has been ill and unable to consult with his client. The financial documents most relevant to the order are in storage in California, so Blixseth will “have to do whatever he can from memory,” attorney Phillip John DeFelice said.
Courts have previously ruled that Blixseth fraudulently transferred $286 million for his personal use from a 2005 Credit Suisse loan intended for the club.
The private ski and golf resort, founded by Blixseth and his ex-wife, attracted elite members, including Microsoft co-founder Bill Gates and former Vice-President Dan Quayle…
Should I buy my grandkid an RRSP or RESP?
– moneysense.ca
Q: Can an aunt, uncle or grandparent open an RRSP or RESP for a grandchild, niece or nephew as a gift?
—Elizabeth Adolph, Lillooet, B.C.
A: The acronyms “RRSP” and “RESP” may differ by only one letter, but the plans themselves are very different. The RRSP is for retirement savings and you cannot open one for a child. That’s because RRSP contribution room is based on a person’s earned income. Once she has some, she’ll file a tax return and start building that RRSP room, but you can’t do it for her. However, you certainly can open up an RESP for a child’s education savings, whether they are related to you or not. Your gift will qualify for the Canada Education Savings Grant, which amounts to 20% of the first $2,500 you contribute, up to $500 each year. I’d recommend that you coordinate with the parents as there is a limit on total contributions of $50,000 and if you go over that amount you’ll face a penalty. The parents may also have other more immediate financial needs that would benefit the child, such as helping to pay for activities or tutoring…
—Elizabeth Adolph, Lillooet, B.C.
A: The acronyms “RRSP” and “RESP” may differ by only one letter, but the plans themselves are very different. The RRSP is for retirement savings and you cannot open one for a child. That’s because RRSP contribution room is based on a person’s earned income. Once she has some, she’ll file a tax return and start building that RRSP room, but you can’t do it for her. However, you certainly can open up an RESP for a child’s education savings, whether they are related to you or not. Your gift will qualify for the Canada Education Savings Grant, which amounts to 20% of the first $2,500 you contribute, up to $500 each year. I’d recommend that you coordinate with the parents as there is a limit on total contributions of $50,000 and if you go over that amount you’ll face a penalty. The parents may also have other more immediate financial needs that would benefit the child, such as helping to pay for activities or tutoring…
