Shell defends BG deal in time of low oil prices, promises $1 billion in savings + MORE Nov 3rd

TransCanada Corp , Canada’s second-largest pipeline company saw its profit decline despite higher earnings from its Keystone systems.

Banking group Standard Chartered is slashing 15,000 jobs worldwide and plans to raise $5.1 billion US from shareholders through a rights issue as part of a major restructuring to shore up its financial position.

When it comes to choosing investments, personality may have more to do with it than advisors and their clients realize. In fact, a study by the BCSC finds that an investor’s personality plays a key role, particularly when he works with an advisor.
The study asks Canadians whether they knew their investment goals, were confident their investments were suitable, understood the investments in their portfolio, and were confident when making investment decisions. The study measures the current state of how investors feel about these issues, giving respondents a score between 0 and 100.
The study also looks at Canadian investors’ knowledge, attitudes, and behaviours to understand how they differ when they work with an advisor and when they do not. In all cases, those who know, feel, and do the right things report attitudes that give them a higher index rating.
One key finding reveals that while Canadians in general—investors and non-investors alike—index at 62 on the 100-point scale…

LONDON – Royal Dutch Shell outlined Tuesday its strategy for making its merger with BG profitable in a world with falling oil prices, revealing another $1 billion in cost savings from the deal.
Chief Executive Officer Ben van Beurden said cost savings for the deal are now expected to be $2 billion, bringing total synergies to $3.5 billion in 2018. Examples include savings on corporate costs such as real estate.
“The $1 billion increase is in operating cost synergies and has arisen from both de-risking our original assumptions but also from identifying further opportunities,” he told reporters on a conference call. “Plans also call for $1.5 billion of synergies for the combined exploration portfolio in 2018.”
Shell agreed to buy British rival BG Group for 47 billion pounds ($69.7 billion) in April, in a deal widely seen as an effort by the energy company to adapt to lower prices. The deal will boost Shell’s oil and gas reserves by 25 per cent and give it a bigger presence in the fast-growing liquefied natural gas market…

 
 
 Niilo Khartikaine, the 90-year-old electrical technician and retired president of the Princess Auto chain of stores, has a plan. Last month, he set aside $60,000 in an investment account with the aim of growing it to $500,000 in 30 years so that his legacy—the family cottage on the Winnipeg River—can be rebuilt by his grandchildren, from scratch. “I bought the cottage 27 years ago and it was my retirement project,” says Niilo, who wants a low-cost, tax-efficient portfolio. “I don’t want to pay high MERs and I want the portfolio to be simple to manage so my adult kids can keep it on track over the long term.”
Certified investment advisor Shannon Dalziel of PWL Capital in Toronto says that in order for Niilo’s investment of $60,000 to grow to $500,000 in 30 years, he needs an average annual rate of return of between 7.3% and 9.1% before taxes and fees. “To achieve that amount of growth, an all-equity portfolio could be the one to go with if his children can handle the volatility…