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Fairfax increases stake in Torstar with $11.8 million private stock deal
– canadianbusiness.com
The Toronto-based financial company now owns about 28.9 million class B shares of Torstar (TSX:TS.B), owner of the Toronto Star, the Metroland group of newspapers and other digital and print media businesses.
Fairfax says it paid $1.25 each for the 9.4 million class B shares. The shares closed Thursday at $1.30 on the Toronto Stock Exchange, but Fairfax didn’t say when its shares were acquired through a private agreement.
Fairfax says it acquired the class B shares for investment purposes but, in future, it may discuss transactions with management or the company’s board of directors.
The company has gradually increased its stake over the recent years. Prior to the most recent transaction, it owned 27.3 per cent of the media company’s non-voting shares.
Fairfax is a holding company that’s primarily invested in insurance businesses…
Expanded parental leave to come into effect Dec. 3
– moneysense.ca
OTTAWA—New mothers and fathers planning to begin their parental leave on or after Dec. 3 will be able to spread their federal benefits over a longer period of time.
The federal government’s long-promised changes to parental leave rules will go into effect early next month, says Families Minister Jean-Yves Duclos, allowing eligible new parents to take up to 18 months of employment insurance benefits after the birth of a child.
On that same date, a new family caregiver benefits will also kick in — one a 15-week leave to care for a critically ill or injured adult, the other a 35-week benefit to care for a critically ill or injured child.
READ: Is longer parental leave a boon or a bust?
Eligible soon-to-be-mothers will also be able to claim maternity benefits up to 12 weeks before the baby is due.
However, the government won’t increase the actual value of employment insurance benefits for anyone who takes the extended parental leave: instead, the Liberals are sticking with their 2015 election promise to spread 12 months’ worth of benefits over 18 months…
