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Canadian pension funds plummet amid global market volatility + MORE Feb 2nd
Funding solvency drops as bond yields fall and investment portfolios post losses
.... More »
How prorogation will impact capital gains tax changes in Canada + MORE Jan 6th
Justin Trudeau’s decision to step down and prorogue parliament will keep his government from implementing its proposed changes to capital gains for now, but Canadians might not be off the hook with tax collectors just yet.
The changes would raise the portion of capital gains on which companies .... More »
Canadian Partnership Against Cancer: Working together to reduce the heavy burden of cancer - The Hill Times + MORE Feb 10th
Canadian Partnership Against Cancer: Working together to reduce the heavy burden of cancer The Hill TimesCanadian Cancer Society fights financial burden of disease on World Cancer Day CTV NewsEven with health care, cancer inflicts ‘enormous financial strain’ on patients&nbs.... More »
The scoop: What Canadian investors need to know now Sep 16th
For those who like surprises, the stock markets have not disappointed in 2020. The S&P 500 surged to new heights despite the economy-clenching COVID-19 pandemic powering around the globe, and individual investors’ participation in trading reached a 10-year high during the first half of this ye.... More »
5 personal finance myths you probably still believe + MORE Nov 25th
I get a kick out of the television series Mythbusters. For those of you unfamiliar with the program, each week the show’s stars, Jamie and Adam, try to prove or disprove (busted!) popular myths, adages and urban legends. I mean, how can you not like a show that answers such important questions as .... More »
Barrick Gold Looks to Sell Two Australian Mines
– blogs.wsj.com
Barrick Gold has hired UBS and Bank of America Merrill Lynch to sell two Australian mines, as it continues to shed its higher-cost, shorter-life assets, according to people familiar with the matter.
Harvard’s endowment up 11.3 per cent, surges to $32.7B, yet well below pre-recession levels
– canadianbusiness.com
CAMBRIDGE, Mass. – Harvard University’s endowment earned an 11.3 per cent gain on investments in the most recent fiscal year to surge to $32.7 billion.
The endowment for the nation’s wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the financial crisis cost Harvard about $11 billion.
Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university’s investments, says the endowment beat benchmarks and has recovered well since the recession started.
Distributions from the endowment contributed more than a third of the university’s operating budget during the most recent fiscal year.
The endowment also supports financial aid programs that allow the university to admit qualified students regardless of their ability to pay.
The post Harvard’s endowment up 11.3 per cent, surges to $32.7B, yet well below pre-recession levels appeared first on Canadian Business.
The endowment for the nation’s wealthiest university for the fiscal year that ended June 30, however, remains well below the high-water mark of almost $37 billion reached in 2008 before the financial crisis cost Harvard about $11 billion.
Jane Mendillo, president and CEO of Harvard Management Co., which oversees the Ivy League university’s investments, says the endowment beat benchmarks and has recovered well since the recession started.
Distributions from the endowment contributed more than a third of the university’s operating budget during the most recent fiscal year.
The endowment also supports financial aid programs that allow the university to admit qualified students regardless of their ability to pay.
The post Harvard’s endowment up 11.3 per cent, surges to $32.7B, yet well below pre-recession levels appeared first on Canadian Business.
Big broker ICAP paying $87M to settle US, UK charges of manipulating LIBOR interest rate
– canadianbusiness.com
WASHINGTON – Britain’s ICAP PLC has agreed to pay about $87 million to settle U.S. and U.K charges of manipulating a key global interest rate, the fourth financial firm sanctioned in the international rate-rigging scandal.
The U.S. Commodity Futures Trading Commission said Wednesday that ICAP, the world’s largest broker of trades between banks, engaged in rigging of the London interbank offered rate, or LIBOR, from October 2006 to January 2011.
Separately, U.S. prosecutors in Manhattan filed criminal charges Wednesday against three former ICAP brokers, saying they hurt the integrity of the financial markets by taking part in the scheme for their own financial gain.
The former brokers, Darrell Read of New Zealand and Daniel Wilkinson and Colin Goodman of Britain, were each charged with conspiracy to commit wire fraud and two counts of wire fraud. They face a maximum 30 years in prison for each of three counts.
A British banking trade group sets the LIBOR every morning after international banks submit estimates of what it costs them to borrow…
The U.S. Commodity Futures Trading Commission said Wednesday that ICAP, the world’s largest broker of trades between banks, engaged in rigging of the London interbank offered rate, or LIBOR, from October 2006 to January 2011.
Separately, U.S. prosecutors in Manhattan filed criminal charges Wednesday against three former ICAP brokers, saying they hurt the integrity of the financial markets by taking part in the scheme for their own financial gain.
The former brokers, Darrell Read of New Zealand and Daniel Wilkinson and Colin Goodman of Britain, were each charged with conspiracy to commit wire fraud and two counts of wire fraud. They face a maximum 30 years in prison for each of three counts.
A British banking trade group sets the LIBOR every morning after international banks submit estimates of what it costs them to borrow…
U.S. business spending hits the wall
– theglobeandmail.com
Index tracking financial arms of major equipment makers sees double-digit monthly decline in August
Medical device company Stryker buying Mako Surgical for about $1.41 billion
– canadianbusiness.com
FORT LAUDERDALE, Fla. – Stryker will spend $1.41 billion to acquire Mako Surgical and all of its robotic assisted surgery technology.
The medical device maker will pay $30 per Mako share, an 86 per cent premium to its $16.17 closing price Tuesday. The companies put the deal’s value at about $1.65 billion.
Shares of Mako soared 84 per cent to $29.73 before the opening bell Wednesday.
Mako Surgical Corp., based in Ft. Lauderdale, Fla., has approximately 47 million outstanding shares, according to FactSet. The company’s products include its Rio robotic arm interactive orthopedic system and its Restoris implants. It also recently introduced the Makoplasty total hip arthroplasty, a new robotic arm system that is used for complete hip replacements.
Stryker CEO Kevin Lobo says Mako’s robotic technology has long-term potential for human joint reconstruction.
The transaction must still be approved by Mako shareholders.
Stryker said that the acquisition will likely shave about 10 to 12 cents per share in adjusted earnings during the first full year…
The medical device maker will pay $30 per Mako share, an 86 per cent premium to its $16.17 closing price Tuesday. The companies put the deal’s value at about $1.65 billion.
Shares of Mako soared 84 per cent to $29.73 before the opening bell Wednesday.
Mako Surgical Corp., based in Ft. Lauderdale, Fla., has approximately 47 million outstanding shares, according to FactSet. The company’s products include its Rio robotic arm interactive orthopedic system and its Restoris implants. It also recently introduced the Makoplasty total hip arthroplasty, a new robotic arm system that is used for complete hip replacements.
Stryker CEO Kevin Lobo says Mako’s robotic technology has long-term potential for human joint reconstruction.
The transaction must still be approved by Mako shareholders.
Stryker said that the acquisition will likely shave about 10 to 12 cents per share in adjusted earnings during the first full year…
