A look at the people Alberta’s Notley has picked to handle sensitive files + MORE Jun 27th

GE has said the business includes $9-billion (U.S.) in assets

The Globe and MailTSX broadly retreats, but ends week up 1.1 percentReuters CanadaTORONTO (Reuters) – Canada's main stock index slipped on Friday in a broad retreat led by utilities and resource stocks, although the index still managed a 1.1 percent gain in a week dominated by the ongoing Greek debt drama. The Toronto Stock …Toronto stock market closes lower as oil prices weaken, Greek debt meeting nearsToronto StarCANADA STOCKS-TSX broadly retreats, but ends week up 1.1 pctReutersall 84 news articles »

SAN DIEGO – San Diego federal prosecutors say a former Qualcomm Inc. executive has been sentenced to 18 months in prison and fined $500,000 for insider trading.
Jing Wang was sentenced Friday for profiting off the wireless technology company’s confidential information and covering up his crimes.
The former global business operations president pleaded guilty in July to charges of insider trading, money laundering and obstruction of justice.
Prosecutors say Wang made three trades based on insider information.
One trade involved a purchase of stock in Atheros Communications Inc. before it was reported that Qualcomm would buy the company for $3.1 billion.
Prosecutors say Wang and his stockbroker tried to blame the trades on Wang’s brother, who lives in China. The brother is wanted on an international warrant for his role in the scheme.
The post Former Qualcomm executive gets 18 months in federal prison, $500,000 fine for insider trading appeared first on Canadian Business – Your Source For Business News.

NEW YORK, N.Y. – After a sizzling rally that more than doubled the value of China’s stock market over the past year, investors are now heading for the exit.
China’s Shanghai Composite plunged more than 7 per cent on Friday, one of its biggest drops in the last 10 years. The index is down 19 per cent since its recent high reached June 12.
Chinese investors may be scrambling, but average U.S. investors shouldn’t be overly worried. Here’s what has happened and why investors shouldn’t react rashly:
HOW DID THE BUBBLE BEGIN?
There have been signs of overheating in China for a while. Shares in Shanghai more than doubled over the past year, despite evidence the Chinese economy is slowing. Chinese economic growth fell to 7 per cent from January through March, slowest quarter since 2009. At the same time, state-owned media has encouraged ordinary Chinese for months to load up on shares. Many borrowed heavily to buy stocks, taking out so-called margin loans.
Rising stocks encouraged companies to raise money by issuing shares and to use the proceeds to pay down debt…

EDMONTON – Alberta Premier Rachel Notley has made a handful of key appoints in recent days as her government takes power and attempts to deliver on its election promises. Here’s a look at who she has tabbed to handle some of the more sensitive files:
David Dodge — Infrastructure and capital plan adviser
Dodge was a deputy minister of finance and deputy minister of health at the federal level while the Liberals were in power, but he is best known as a former governor of the Bank of Canada. He headed the national bank from 2001 until 2009. Dodge has a PhD in economics from Princeton and has taught at Queen’s University, the University of British Columbia and Simon Fraser University. He says he believes governments should borrow to pay for roads, schools, hospitals and other buildings — but only under the right circumstances. “Borrowing for infrastructure development that will lead to greater economic development, where there is an identifiable return on that investment, is absolutely appropriate…