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Nearly half of Canadians within $200 of insolvency: survey - CTV News Jan 21st
Nearly half of Canadians within $200 of insolvency: survey CTV News46% of Canadians on the brink of insolvency as rates rise: Survey BNNBloomberg.caFour-in-10 British Columbians within $200 of insolvency CityNews VancouverRising interest rates a big worry to Canadian.... More »
Thanksgiving teaches us some financial lessons that can apply all year round Oct 11th
Be generous with your time, money and your feast this holiday weekend as you give thanks for what you have while reflecting and hoping for better financial health in the months to come..... More »
Canadian Tire bidding on Hudson’s Bay assets, sources say - BNN Bloomberg May 1st
Canadian Tire bidding on Hudson’s Bay assets, sources say BNN BloombergView Full Coverage on Google News.... More »
Compare the Best GIC Rates in Canada Jan 27th
How to use this tool: You can simply scan the table below to view GIC interest rates offered by financial institutions across Canada. Click on one of the tabs at the top of the table to focus on your choice of Non-Registered, Registered, TFSA-eligible or U.S.-dollar GICs.
Or, follow the prompts in t.... More »
Apple eases App Store rules to allow for outside links to paid subscriptions - CBC.ca + MORE Sep 2nd
Apple eases App Store rules to allow for outside links to paid subscriptions CBC.caApple to allow 'reader' apps like Netflix to offer account setup and management links in-app MobileSyrupApple plans to loosen App Store payment policy Japan TodayApple offers small con.... More »
Shell halts proposed oil-by-rail project at its refinery
– canadianbusiness.com
ANACORTES, Wash. – Shell Puget Sound Refinery announced Thursday it has terminated plans for a proposed oil-by-rail project at its refinery in Washington state.
Under the plan, trains would have brought crude oil from the Bakken fields of North Dakota to replace some of the supply Shell currently gets from Alaska’s North Slope.
Refinery general manager Shirley Yap told the Skagit Valley Herald (https://goo.gl/iLxiMW) Thursday that recent low oil prices and abundant production elsewhere have slowed Midwest production, making it less of a good investment.
“At today’s prices even if I had a (rail) facility, I would not be buying Bakken,” Yap said.
The proposal had been in the works for years with Skagit County officials concluding that there weren’t significant impacts from the project in Anacortes. But conservation groups appealed and a county hearing examiner ruled a full project review was needed.
Shell’s appeal of that decision was dismissed last year and a draft environmental impact statement regarding the project was released earlier this week by state and local officials…
Under the plan, trains would have brought crude oil from the Bakken fields of North Dakota to replace some of the supply Shell currently gets from Alaska’s North Slope.
Refinery general manager Shirley Yap told the Skagit Valley Herald (https://goo.gl/iLxiMW) Thursday that recent low oil prices and abundant production elsewhere have slowed Midwest production, making it less of a good investment.
“At today’s prices even if I had a (rail) facility, I would not be buying Bakken,” Yap said.
The proposal had been in the works for years with Skagit County officials concluding that there weren’t significant impacts from the project in Anacortes. But conservation groups appealed and a county hearing examiner ruled a full project review was needed.
Shell’s appeal of that decision was dismissed last year and a draft environmental impact statement regarding the project was released earlier this week by state and local officials…
Chinese glass maker to unveil plant on former Ohio GM site
– canadianbusiness.com
COLUMBUS, Ohio – A Chinese company is ready to show off its completed automotive glass-making plant in Ohio, which serves as its North American hub for recycled glass manufacturing.
The chairman of Fuyao Glass America Inc., a host of dignitaries and about 700 guests are expected to attend the grand opening Friday.
Fuyao has spent roughly $450 million to convert the former General Motors factory in Moraine, near Dayton, which was shuttered in 2008. That represents China’s biggest investment in the state and its 8th largest in the U.S.
The plant employs more than 2,000 people.
Fuyao is China’s largest automotive glass manufacturer. The company received a $1 million workforce training grant and a $3 million economic development grant from JobsOhio, Ohio’s privatized economic development office, in conjunction with the Moraine project.
The post Chinese glass maker to unveil plant on former Ohio GM site appeared first on Canadian Business – Your Source For Business News.
The chairman of Fuyao Glass America Inc., a host of dignitaries and about 700 guests are expected to attend the grand opening Friday.
Fuyao has spent roughly $450 million to convert the former General Motors factory in Moraine, near Dayton, which was shuttered in 2008. That represents China’s biggest investment in the state and its 8th largest in the U.S.
The plant employs more than 2,000 people.
Fuyao is China’s largest automotive glass manufacturer. The company received a $1 million workforce training grant and a $3 million economic development grant from JobsOhio, Ohio’s privatized economic development office, in conjunction with the Moraine project.
The post Chinese glass maker to unveil plant on former Ohio GM site appeared first on Canadian Business – Your Source For Business News.
CIT Group sells aircraft-leasing business for $10 billion
– canadianbusiness.com
NEW YORK, N.Y. – CIT Group Inc. said Thursday it is selling its commercial aircraft-leasing business to a subsidiary of China’s Bohai Capital Holding Co. for $10 billion.
Shares of CIT rose almost 8 per cent in extended trading after the sale was announced.
The deal is expected to close by the end of the first quarter of 2017 if it wins regulatory approval in the U.S. and China.
New York-based CIT, a financial-services holding company, said the sale to Bohai’s Avolon Holdings would simplify its business and improve its balance sheet.
The company said it got a “non-objection” from the Federal Reserve Bank of New York for a capital plan that is subject to closing the sale. The plan authorizes CIT to return nearly $3 billion in stock to shareholders from proceeds of the sale, it said.
CIT’s stock jumped $2.76 to $39.16 in extended trading after the announcement.
Leasing companies cater to airlines that prefer to lease planes rather than buy them. Many airlines operate a mix of owned and leased aircraft…
Shares of CIT rose almost 8 per cent in extended trading after the sale was announced.
The deal is expected to close by the end of the first quarter of 2017 if it wins regulatory approval in the U.S. and China.
New York-based CIT, a financial-services holding company, said the sale to Bohai’s Avolon Holdings would simplify its business and improve its balance sheet.
The company said it got a “non-objection” from the Federal Reserve Bank of New York for a capital plan that is subject to closing the sale. The plan authorizes CIT to return nearly $3 billion in stock to shareholders from proceeds of the sale, it said.
CIT’s stock jumped $2.76 to $39.16 in extended trading after the announcement.
Leasing companies cater to airlines that prefer to lease planes rather than buy them. Many airlines operate a mix of owned and leased aircraft…
Report: State pension funding gap at $1.2 trillion
– canadianbusiness.com
A new report finds that state-run pension systems for public employees are underfunded by $1.2 trillion.
Moody’s Investors Services says the gap is expected to widen in the years ahead, partly because the funds’ annual investment returns are running well below expectations.
The report released Thursday compiled pension data for the end of the 2015 fiscal years in most states. It is among the first to tally the funding gap under new accounting rules intended to give a more accurate picture of the problem.
California, Illinois, New Jersey, Pennsylvania and Texas accounted for more than half the total pension gap across the country.
The post Report: State pension funding gap at $1.2 trillion appeared first on Canadian Business – Your Source For Business News.
Moody’s Investors Services says the gap is expected to widen in the years ahead, partly because the funds’ annual investment returns are running well below expectations.
The report released Thursday compiled pension data for the end of the 2015 fiscal years in most states. It is among the first to tally the funding gap under new accounting rules intended to give a more accurate picture of the problem.
California, Illinois, New Jersey, Pennsylvania and Texas accounted for more than half the total pension gap across the country.
The post Report: State pension funding gap at $1.2 trillion appeared first on Canadian Business – Your Source For Business News.
RCMP apologizes to hundreds of its female officers
– macleans.ca
RCMP Commissioner Bob Paulson in Ottawa, March 6, 2015. (Fred Chartrand, CP)Related reading: Inside the RCMP’s biggest crisis
OTTAWA — RCMP Commissioner Bob Paulson has delivered an abject apology to hundreds of current and former female officers and employees who were subjected to bullying, discrimination and harassment dating back as long as four decades.
Paulson made the historic apology Thursday as he announced the settlement of two class-action lawsuits stemming from harassment that have cast a dark pall over the storied police force.
“To all the women, I stand humbly before you today and solemnly offer our sincere apology,” an emotional Paulson told a news conference in Ottawa.
“You came to the RCMP wanting to personally contribute to your community and we failed you. We hurt you. For that, I am truly sorry.”
Paulson said the settlement would provide financial compensation for the women and lead to resolution of potential class-action lawsuits brought forward by former RCMP members Janet Merlo and Linda Gillis Davidson…
