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GMP should settle on the future of its wealth manager + MORE May 6th
Richardson GMP doesn’t make much, but might still fetch a decent sale price
.... More »
A TFSA to protect against an apocalypse + MORE Nov 20th
Trevor Bonnici
AGE: 47
PLACE: Toronto
TFSA TOTAL: $47,895
STRATEGY: a portfolio that protects against hyperinflation and maintains his purchasing power
TFSA Holdings
Gold
25%
Mawer Global Bond Fund
35%
1 to 5-year TIPS VTIP ETF
10%
Polar Long/Short Fund (POL202)
(small- to mid-cap C.... More »
Uber drivers in NYC protest company's fare cut - Ottawa Citizen + MORE Feb 1st
New York TimesUber drivers in NYC protest company's fare cutOttawa CitizenNEW YORK, N.Y. - Uber drivers in New York City called Monday for a strike to protest the company's decision to cut fares by 15 per cent, as several hundred rallied at the ride-sharing app's New York headquarters.... More »
What to do if you overcontributed to your RRSP + MORE Feb 26th
Ask MoneySense
I overcontributed to my RRSP by accident, and I am looking for some advice on how to deal with it. I contributed $3,550 to my 2022 RRSP in October 2022. I then forgot I made this contribution and again in February 2023 I made a $3,550 contribution.
What options to I have to address.... More »
What Canadian finance pros need to know about money and mental health Nov 28th
Talking about money can be loaded with emotions. In fact, 44% of Canadians said money is one of the big topics that they fret over, according to the 2024 Financial Stress Index. Nearly half of those surveyed say they lose sleep over money troubles. Any divorce lawyer will tell you that money issues .... More »
Colin Perkel/CPThe Ontario real estate investor who owned Elliot Lake’s doomed shopping mall remains the target of a criminal investigation as authorities continue to negotiate access to hundreds of pages of potential evidence—first seized in the days after the deadly collapse, but under seal ever since.
As Maclean’s revealed last week, three search warrants executed by the Ontario Provincial Police (OPP) identify Asadoor “Bob” Nazarian as a prime suspect in the ongoing criminal probe of the Algo Centre cave-in, which killed two women and injured numerous others in June 2012. According to the warrants, Nazarian is being investigated for potential criminal negligence causing death for failing “to maintain the structural integrity” of the mall and failing to “take sufficient steps to remedy known deficiencies” in the building’s notoriously leaky rooftop parking lot. (The 69-year-old has not been charged, and may never be. Contacted by Maclean’s, he declined to comment…
Seven Generations Energy prices IPO, but oil’s slump takes its toll
– theglobeandmail.com
Sells shares at $18 apiece in a vote of confidence in the company’s prospects
Suncor profits fall during the third quarter on lower prices, currency swings
– canadianbusiness.com
CALGARY – Oilsands giant Suncor Energy Inc. posted lower profits for the third quarter, but the bottom line beat the expectations of analysts.
The Calgary-based company said its net earnings were $919 million, or 63 cents per share, down from nearly $1.7 billion, or $1.13 per share, a year earlier.
Operating earnings, which strip out the effects of unusual items, were $1.3 billion, or 89 cents per share, beating the average analyst estimate of 77 cents per share, according to Thomson Reuters.
During the same 2013 quarter operating earnings were $1.4 billion, or 95 cents per share.
Revenue during the third quarter was $10.3 billion, compared to $10.4 billion a year earlier.
“Suncor delivered a solid financial quarter despite lower crude oil pricing,” said Steve Williams, president and chief executive officer.
“Our focused strategy, integrated model and strong balance sheet are competitive strengths that will continue to serve us well through the current lower crude price environment…
The Calgary-based company said its net earnings were $919 million, or 63 cents per share, down from nearly $1.7 billion, or $1.13 per share, a year earlier.
Operating earnings, which strip out the effects of unusual items, were $1.3 billion, or 89 cents per share, beating the average analyst estimate of 77 cents per share, according to Thomson Reuters.
During the same 2013 quarter operating earnings were $1.4 billion, or 95 cents per share.
Revenue during the third quarter was $10.3 billion, compared to $10.4 billion a year earlier.
“Suncor delivered a solid financial quarter despite lower crude oil pricing,” said Steve Williams, president and chief executive officer.
“Our focused strategy, integrated model and strong balance sheet are competitive strengths that will continue to serve us well through the current lower crude price environment…
New set of rail safety rules announced in wake of Lac-Megantic report – Hamilton Spectator
– news.google.ca
Montreal GazetteNew set of rail safety rules announced in wake of Lac-Megantic reportHamilton SpectatorOTTAWA The latest set of rail safety measures announced in the wake of the deadly Lac Mégantic derailment of 2013 do not come with any additional financial resources for the federal regulator, Transport Canada. Transport Minister Lisa Raitt says her …Residents of Emerson forced out by August train derailment weigh in on new rail …CTV NewsReaction to new railway safety rules mixedMontreal GazetteGetting the trains back on trackThe Globe and MailCBC.ca -680 News -CANOEall 82 news articles »
Barrick Gold Q3 net earnings slip to US$125M; revenue contracts to $2.6B
– canadianbusiness.com
TORONTO – Barrick Gold Corp. (TSX:ABX) says reduced revenue from lower sales and margins as well as unrealized losses on foreign currency and derivative instruments contributed to lowering its net profits in the third quarter.
Toronto-based Barrick, which reports in U.S. dollars, says net earnings attributable to equity holders in the three months ended Sept. 30 were US$125 million or 11 cents per share. That was down from US$172 million or 17 cents in the comparable prior-year period.
Revenue slipped to US$2.6 billion from just under $3 billion, while operating cash flow fell to $852 million from $1.2 billion, primarily reflecting lower sales volumes and lower gross margins, partially offset by a decrease in income tax payments, the company said in its earnings release issued after markets closed.
Third-quarter adjusted net earnings were US$222 million or 19 cents per share, compared with $577 million or 58 cents in the prior year period.
The decrease was primarily due to lower gold and copper sales volumes and lower realized gold and copper prices, partially offset by lower cost of sales, Barrick said…
Toronto-based Barrick, which reports in U.S. dollars, says net earnings attributable to equity holders in the three months ended Sept. 30 were US$125 million or 11 cents per share. That was down from US$172 million or 17 cents in the comparable prior-year period.
Revenue slipped to US$2.6 billion from just under $3 billion, while operating cash flow fell to $852 million from $1.2 billion, primarily reflecting lower sales volumes and lower gross margins, partially offset by a decrease in income tax payments, the company said in its earnings release issued after markets closed.
Third-quarter adjusted net earnings were US$222 million or 19 cents per share, compared with $577 million or 58 cents in the prior year period.
The decrease was primarily due to lower gold and copper sales volumes and lower realized gold and copper prices, partially offset by lower cost of sales, Barrick said…
