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If Greece gets easier rescue terms, other bailout states could face popular demands for same + MORE Jul 9th
LISBON, Portugal – Eurozone governments taking a tough line on Greece’s demand for debt relief and easier bailout terms fear opening a can of worms.
Ceding too much ground to Athens could ignite a broader political crisis by infuriating people in other bailed-out countries in the currenc.... More »
Ombudsman: federal tax relief program needs funding to improve response time + MORE Nov 17th
OTTAWA _ The federal government’s Taxpayers’ Ombudsman says the Canada Revenue Agency needs more permanent base funding for a program that provides financial relief to taxpayers who fall behind on payments because of a disaster or hardship.
The ombudsman says in a report that it’s .... More »
Five things to watch for in the Canadian business world in the coming week + MORE Jul 31st
TORONTO – Five things to watch this week in Canadian business:
Take a break: Fretting about returning to work Monday? Relax. It’s a holiday for most Canadians, including Bay Street traders. The Toronto Stock Exchange is closed.
Real estate tax: As of Tuesday, foreigners buying property i.... More »
Andrew McCreath’s Forge First buys Sui Generis + MORE Oct 30th
Andrew McCreath, president and chief executive officer of Forge First Asset Management Inc., said his firm has purchased Sui Generis Investment Partners
.... More »
Why it’s time to raise the TFSA limit to $8,500 + MORE Feb 25th
If the government won’t increase RRSP contribution room for high earners, a reasonable alternative might be to modestly increase TFSA contribution room for everyone.
Canadians are notoriously nice consensus seekers. The old joke might be that they tend to never cross the road becau.... More »
Recycled paper and packaging company Cascades posts Q2 loss on higher sales
– canadianbusiness.com
KINGSEY FALLS, Que. – Cascades Inc. (TSX: CAS) reports a second-quarter loss of $83 million, impacted by such factors as its exit from the kraft paper business and a European mill closure.
That amounts to 88 cents per share, compared with a net profit of $2 million, or three cents per share, in the same quarter in 2013.
Excluding items, adjusted net earnings amounted to $7 million, or eights cents per share, compared with $8 million, or nine cents per share, for the same period in 2013.
In July, Cascades announced the closure of its kraft paper plant in East Angus, Que., cutting 175 jobs. Cascades has said the closure was due to unfavourable market conditions and the inability to finalize a sale of the plant. Kraft paper is used to make envelopes, promotional materials and fast-food wrapping.
The Quebec company also announced the sale of its fine papers division to Rolland Enterprises Inc., a subsidiary of H.I.G. Capital, for $39.5 million, closed a boxboard mill in Sweden and refinanced some of its debt…
That amounts to 88 cents per share, compared with a net profit of $2 million, or three cents per share, in the same quarter in 2013.
Excluding items, adjusted net earnings amounted to $7 million, or eights cents per share, compared with $8 million, or nine cents per share, for the same period in 2013.
In July, Cascades announced the closure of its kraft paper plant in East Angus, Que., cutting 175 jobs. Cascades has said the closure was due to unfavourable market conditions and the inability to finalize a sale of the plant. Kraft paper is used to make envelopes, promotional materials and fast-food wrapping.
The Quebec company also announced the sale of its fine papers division to Rolland Enterprises Inc., a subsidiary of H.I.G. Capital, for $39.5 million, closed a boxboard mill in Sweden and refinanced some of its debt…
5.5 year – 2.60%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-07-12. Click on the link above to get more details or apply online.
Use of untested Ebola drugs ethical: WHO
– macleans.ca
TORONTO – The World Health Organization says it is ethical to use untested Ebola drugs to help quell the current unprecedented outbreak.
But the Geneva-based international health agency says countries that use experimental treatments have a moral obligation to collect data on those treated so the world can learn what works against Ebola.
The statement comes following a meeting Monday of an expert panel asked to assess the ethics of using untested medical interventions in the outbreak.
The statement makes no reference to the fact that currently, supplies of these experimental therapies are extremely limited.
The company developing a therapy recently used by two infected American aid workers said Monday that it had released all its limited stock and currently has no more of the ZMapp treatment.
ZMapp, a cocktail of monoclonal antibodies, was developed in part at the Canadian National Microbiology Laboratory in Winnipeg.
The West African ebola outbreak currently involves four countries — Guinea, Sierra Leone, Liberia and Nigeria — and has claimed over 1,000 lives since early March…
But the Geneva-based international health agency says countries that use experimental treatments have a moral obligation to collect data on those treated so the world can learn what works against Ebola.
The statement comes following a meeting Monday of an expert panel asked to assess the ethics of using untested medical interventions in the outbreak.
The statement makes no reference to the fact that currently, supplies of these experimental therapies are extremely limited.
The company developing a therapy recently used by two infected American aid workers said Monday that it had released all its limited stock and currently has no more of the ZMapp treatment.
ZMapp, a cocktail of monoclonal antibodies, was developed in part at the Canadian National Microbiology Laboratory in Winnipeg.
The West African ebola outbreak currently involves four countries — Guinea, Sierra Leone, Liberia and Nigeria — and has claimed over 1,000 lives since early March…
Asian stock markets mostly up but Europe down as Ukraine, Iraq jitters ease
– canadianbusiness.com
SEOUL, South Korea – Asian stock markets were mostly higher Tuesday as tensions over Ukraine and Iraq eased, giving investors the confidence to dip into riskier assets. European shares drifted.
KEEPING SCORE: Britain’s FTSE 100 slipped 0.1 per cent to 6,627.18 and Germany’s DAX lost 0.4 per cent to 9,145.54. France’s CAC 40 fell 0.6 per cent to 4,173.74. But futures augured gains on Wall Street. Dow futures rose 0.1 per cent to 16,536 and S&P 500 futures added 0.2 per cent to 1,935.60
ASIA’S DAY: Japan’s Nikkei 225 added 0.2 per cent to 15,161.31 and South Korea’s Kospi rose 0.1 per cent to 2,041.47. Australia’s S&P/ASX 200 jumped 1.3 per cent to 5,530.30. Hong Kong’s Hang Seng gained 0.2 per cent to 24,689.41 but China’s Shanghai Composite dipped 0.1 per cent to 2,221.59. Southeast Asian markets rose.
GEOPOLITICS: Ukraine agreed with Russia, the European Union and the U.S. to allow a Red Cross-led mission to provide humanitarian assistance to eastern Ukraine, where Kyiv is trying to quell an uprising by pro-Russian separatists…
KEEPING SCORE: Britain’s FTSE 100 slipped 0.1 per cent to 6,627.18 and Germany’s DAX lost 0.4 per cent to 9,145.54. France’s CAC 40 fell 0.6 per cent to 4,173.74. But futures augured gains on Wall Street. Dow futures rose 0.1 per cent to 16,536 and S&P 500 futures added 0.2 per cent to 1,935.60
ASIA’S DAY: Japan’s Nikkei 225 added 0.2 per cent to 15,161.31 and South Korea’s Kospi rose 0.1 per cent to 2,041.47. Australia’s S&P/ASX 200 jumped 1.3 per cent to 5,530.30. Hong Kong’s Hang Seng gained 0.2 per cent to 24,689.41 but China’s Shanghai Composite dipped 0.1 per cent to 2,221.59. Southeast Asian markets rose.
GEOPOLITICS: Ukraine agreed with Russia, the European Union and the U.S. to allow a Red Cross-led mission to provide humanitarian assistance to eastern Ukraine, where Kyiv is trying to quell an uprising by pro-Russian separatists…
MTS chief executive planning to retire later this year; search for new CEO on
– canadianbusiness.com
WINNIPEG – The CEO of Manitoba Telecom Services Inc. (TSX:MBT) is planning to retire later this year and the Winnipeg company has started to look for a new leader.
Chief executive Pierre Blouin will stay on until a new CEO has been appointed and will help with the transition process.
The telecom company says both internal and external candidates will be considered for the top job.
Under Blouin’s leadership, MTS had tried to sell its business unit, Allstream, but Ottawa blocked a $520-million deal to sell it last year.
Federal Industry Minister James Moore, acting under national security provisions of the Investment Canada Act, rejected the proposal to sell Allstream to Egyptian investment group Accelero Capital.
The company wasn’t able to line up another buyer for Allstream, which provides services such as Internet and telephone to businesses.
Canaccord Genuity analyst Dvai Ghose said Blouin, CEO since December 2005, has operated under very tough conditions. But he noted that MTS has maintained sector leading wireless and wireline market share in Manitoba and is enjoying the best broadband subscriber growth of any major Canadian telecom or cable company…
Chief executive Pierre Blouin will stay on until a new CEO has been appointed and will help with the transition process.
The telecom company says both internal and external candidates will be considered for the top job.
Under Blouin’s leadership, MTS had tried to sell its business unit, Allstream, but Ottawa blocked a $520-million deal to sell it last year.
Federal Industry Minister James Moore, acting under national security provisions of the Investment Canada Act, rejected the proposal to sell Allstream to Egyptian investment group Accelero Capital.
The company wasn’t able to line up another buyer for Allstream, which provides services such as Internet and telephone to businesses.
Canaccord Genuity analyst Dvai Ghose said Blouin, CEO since December 2005, has operated under very tough conditions. But he noted that MTS has maintained sector leading wireless and wireline market share in Manitoba and is enjoying the best broadband subscriber growth of any major Canadian telecom or cable company…
