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Quebec transport minister resigns amid scandal over sale of hardware chain + MORE Aug 19th
QUEBEC – Quebec Transport Minister Jacques Daoust quit politics on Friday just hours after Premier Philippe Couillard indicated he no longer had full confidence in the minister.
Daoust, 68, had faced mounting criticism in recent months over his alleged role in authorizing the sale of a Quebec .... More »
“Why do I need a financial plan?” + MORE Oct 6th
I am in my early 50s, have a steady job, I’m not a big spender, and I make RRSP contributions. Why would I need a financial plan? I don’t see how it could help me.—Tom
What is financial planning?
To answer your question—and it’s a good one!—let’s think about why people get a fina.... More »
US-China tension laid bare at Asian economic summit - Financial Times Nov 18th
Financial TimesUS-China tension laid bare at Asian economic summitFinancial TimesRivalry between the US and China was laid bare at the Asia Pacific Economic Co-operation meeting over the weekend, as Xi Jinping, China's president, and Mike Pence, US vice-president, sparred over trade and securit.... More »
2023 tax credits, due dates and when you can file: Your 2023 income tax return guide Apr 9th
You’ll want to bookmark the MoneySense guide for 2023 personal income taxes. We will be updating it frequently, as information becomes available and deadlines approach. Plus, we get answers from the experts you won’t find anywhere else, thanks to our Ask MoneySense and Ask A Planner columns.&nbs.... More »
SNC-Lavalin says CEO Neil Bruce is retiring - CBC.ca Jun 11th
SNC-Lavalin says CEO Neil Bruce is retiring CBC.caNeil Bruce, SNC-Lavalin Group Inc.'s chief executive, is stepping down from the beleaguered engineering giant after a nearly four-year tenure that saw its stock ...View full coverage on Google News.... More »
Compeitition Bureau challenges Parkland’sPioneer deal
– canadianbusiness.com
OTTAWA – A deal by Parkland Fuel Corp. (TSX:PKI) to acquire gas station operator Pioneer Energy for $378-million is being challenged by the federal Competition Bureau.
The bureau said in a statement Thursday that it has filed an application with the Competition Tribunal for an order prohibiting the two companies from proceeding with the transation in 14 communities — 11 in Ontario and three in Manitoba.
“The bureau will also be seeking an injunction requiring that Parkland preserve and operate independently the assets to be acquired from Pioneer in these communities until the Tribunal reaches its decision in this matter,” it said.
A review by the bureau concluded that the parties’ post-merger market shares in the 14 communites would be between 39 and 100 per cent.
“As these markets become more concentrated, the likelihood of price co-ordination between remaining retailers increases,” it said.
“As we were not able to come to an agreement with Parkland and Pioneer to resolve our concerns, we are seeking to block the merger in these communities in order to protect competition for Canadians,” it added…
The bureau said in a statement Thursday that it has filed an application with the Competition Tribunal for an order prohibiting the two companies from proceeding with the transation in 14 communities — 11 in Ontario and three in Manitoba.
“The bureau will also be seeking an injunction requiring that Parkland preserve and operate independently the assets to be acquired from Pioneer in these communities until the Tribunal reaches its decision in this matter,” it said.
A review by the bureau concluded that the parties’ post-merger market shares in the 14 communites would be between 39 and 100 per cent.
“As these markets become more concentrated, the likelihood of price co-ordination between remaining retailers increases,” it said.
“As we were not able to come to an agreement with Parkland and Pioneer to resolve our concerns, we are seeking to block the merger in these communities in order to protect competition for Canadians,” it added…
Fairfax Q1 profit falls sharply to US$225.2M; cites big drop in investment gains
– canadianbusiness.com
TORONTO – Fairfax Financial Holdings Ltd. (TSX:FFH) has reported first-quarter net earnings that were down by more than two-thirds from a year ago, reflecting the insurer’s improved underwriting results but sharply lower gains on investments.
The Toronto-based property and casualty insurer and investment manager said net income attributable to shareholders in the three months ended March 31 was US$225.2 million or $9.71 per diluted share, down from US$784.6 million or $35.72 per share in the same year-earlier period.
In an earnings report issued after markets closed on Thursday, Fairfax said the combined ratio of the insurance and reinsurance operations was 91.3 per cent on a consolidated basis.
That produced an underwriting profit of US$126.8 million, compared with a combined ratio of 93 per cent and underwriting profit $98.7 million respectively in 2014.
Combined ratio, a measure of profitability of an insurance company, is the sum of incurred losses and operating expenses measured as a percentage of earned premium…
The Toronto-based property and casualty insurer and investment manager said net income attributable to shareholders in the three months ended March 31 was US$225.2 million or $9.71 per diluted share, down from US$784.6 million or $35.72 per share in the same year-earlier period.
In an earnings report issued after markets closed on Thursday, Fairfax said the combined ratio of the insurance and reinsurance operations was 91.3 per cent on a consolidated basis.
That produced an underwriting profit of US$126.8 million, compared with a combined ratio of 93 per cent and underwriting profit $98.7 million respectively in 2014.
Combined ratio, a measure of profitability of an insurance company, is the sum of incurred losses and operating expenses measured as a percentage of earned premium…
How to research a stock at a discount brokerage
– moneysense.ca
For more on this topic, watch:
» How to make an trade at a discount brokerage
» How to buy an ETF at a discount brokerage
The post How to research a stock at a discount brokerage appeared first on MoneySense.
The Church of England said on Thursday it has decided to blacklist coal and oilsands investments over climate change concerns, the Financial Times reported.
A Big Data Financial Retreat
– online.wsj.com
Finra walks back its needless and risky
house of Cards.
