Canadian fund managers lag on tackling climate-change risks: survey + MORE May 3rd

When a financial crisis lands on the front page, there’s a lot of information, but not much insight. What should you do?

SEOUL, South Korea – The business tycoon who led South Korea’s organizing committee for the 2018 Winter Olympics quit on Tuesday amid escalating financial troubles at the business group his family controls.
In a statement confirming Cho Yang-ho’s resignation, the second change in less than two years at the helm of the local organizing committee, Pyeongchang 2018 credited its outgoing president with getting preparations back on track and “managing critical issues” such as delayed venue construction, disputes over the location of the Olympic stadium and sponsorship.
Cho is chairman of the Hanjin Group, which controls Olympic sponsor Korean Air and a major shipping company struggling with heavy debt.
He said in the statement he couldn’t continue with the Olympic job because he needs to focus on stabilizing Hanjin Shipping, South Korea’s largest container carrier, which said last week that it will undergo a debt revamp program with creditors in its last-ditch efforts to stay in business…

(Andy Ryan/Getty Images)
It might get easier for homebuyers and sellers in the Greater Toronto Area to accurately compare recently sold data and current homes for sale after a ruling last week from the Competition Tribunal.
The Commissioner of Competition, the federal agency tasked with advocating for the rights of Canadian consumers, won their abuse of dominance case against the Toronto Real Estate Board (TREB) after fighting for years to have sales data made accessible to the public.
At the heart of the Competition Bureau’s argument is that TREB, the real estate board that represents real estate agents and brokerages that work in the GTA, stifles industry competition by restricting who gets full, easy access to housing market data. In an effort to increase competition within the real estate market, the Competition Bureau argued for open, easy access to housing data—data that’s housed on the Multiple Listings Service (MLS), a suite of services that enables a seller to market their property to multiple buyers in the open market…

Canadian investment funds collectively rank 11th in global survey when it comes to managing climate-change risks

BEIJING, China – Chinese manufacturing activity weakened further in April despite government stimulus, a survey showed Tuesday, indicating the economy has yet to rebound from a downturn.
The Caixin magazine purchasing managers’ index declined to 49.4 from March’s 49.7 on a 100-point scale on which numbers below 50 show activity contracting. It said conditions have worsened in each of the past 14 months.
Beijing has tried to shore up slowing economic growth by boosting spending on public works projects, expanding credit and easing policies on real estate to encourage purchases. Some indicators improved in March but analysts warned that was unlikely to last.
“The fluctuations indicate the economy lacks a solid foundation for recovery and is still in the process of bottoming out,” Caixin’s chief economist, He Fan, said in a statement. “The government needs to keep a close watch on the risk of a further economic downturn.”
A separate PMI issued earlier by an industry group, the Chinese Federation of Logistics & Purchasing, also found manufacturing was weak in April though activity expanded slightly…