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How McPhee held GMs 'hostage' to accumulate assets - TSN + MORE Jun 22nd
TSNHow McPhee held GMs 'hostage' to accumulate assetsTSNLAS VEGAS — Marc-Andre Fleury emerged from backstage wearing a storm grey Golden Knights sweater, his first in 14 years without a Penguin, and his trademark megawatt smile exploded. Any trepidation Fleury had about the introduction .... More »
The Triple Threat of a Triple Bottom Line Dec 19th
If you hadn’t noticed already, Canada’s workforce is changing. It’s expected that by 2030, nearly 30% of it will be made up of Gen Z employees—bringing to the office greater expectations for social good and the triple bottom line. Among mental health, climate change and other social issues i.... More »
How Did TIFF’s Lightbox Become Its Money Pit? + MORE Apr 30th
You don’t notice what’s missing at first. Toronto’s TIFF Lightbox—that unassuming glass grid, dwarfed by the enormous monolithic condo protruding from the top of it—still looks the same. Inside the five-storey space is a surprising 16,000 square metres containing five cinemas, a screen.... More »
Justice Department won’t send officers to pipeline protest + MORE Dec 15th
BISMARCK, N.D. _ The federal government won’t send 100 federal officers to help police protests against the Dakota Access oil pipeline in North Dakota as requested, drawing a sharp rebuke Wednesday by the county sheriff who wanted the help as well as the head of the National Sheriffs’ As.... More »
Gen Z Canadians face job losses—but time is on their side + MORE Feb 5th
Statistics Canada has released new employment insurance (EI) data, and it doesn’t look good for Canadian workers. In the year ending November 2025, the number of people receiving EI rose by 16.1%. Among young Canadians aged 15 to 24, the increase was 12.4%. While this group wasn’t hit the hardes.... More »
Former executive of failed Keys resort charged in $300M scam
– canadianbusiness.com
MIAMI – Another former executive of a failed Florida Keys resort has been charged in a $300 million vacation rental scam.
The Miami Herald reports (http://hrld.us/2e0S4j1 ) 60-year-old David Schwarz was arrested last week on federal charges in Orlando. Schwarz was once the chief financial officer and one-third owner of the Cay Clubs Resorts and Marinas.
Prosecutors say 1,400 investors were defrauded in the scheme. The resort’s former president was sentenced in February to 40 years in federal prison. Two ex-sales executives pleaded guilty to conspiracy charges and were sentenced to five years in prison.
Schwarz was indicted on multiple charges, including bank fraud. He faces up to 30 years in prison for each of the most serious charges.
Schwarz’s attorney, Kenneth Hazouri, didn’t immediately respond to messages left Monday by The Associated Press.
___
Information from: The Miami Herald, http://www.herald.com
The post Former executive of failed Keys resort charged in $300M scam appeared first on Canadian Business – Your Source For Business News.
The Miami Herald reports (http://hrld.us/2e0S4j1 ) 60-year-old David Schwarz was arrested last week on federal charges in Orlando. Schwarz was once the chief financial officer and one-third owner of the Cay Clubs Resorts and Marinas.
Prosecutors say 1,400 investors were defrauded in the scheme. The resort’s former president was sentenced in February to 40 years in federal prison. Two ex-sales executives pleaded guilty to conspiracy charges and were sentenced to five years in prison.
Schwarz was indicted on multiple charges, including bank fraud. He faces up to 30 years in prison for each of the most serious charges.
Schwarz’s attorney, Kenneth Hazouri, didn’t immediately respond to messages left Monday by The Associated Press.
___
Information from: The Miami Herald, http://www.herald.com
The post Former executive of failed Keys resort charged in $300M scam appeared first on Canadian Business – Your Source For Business News.
Bank of America’s profits rise 6 per cent, beats estimates
– canadianbusiness.com
NEW YORK, N.Y. – Bank of America’s third-quarter profits rose nearly 6 per cent from a year earlier, helped by strong results in investment banking and trading, as well as lower expenses.
The consumer banking giant said Monday it earned $4.45 billion after paying dividends to preferred shareholders in the three months ending in September, up from $4.178 billion in the same period a year earlier.
The per-share figure rose to 41 cents versus 38 cents a year ago, easily beating the 34 cents per share analysts were expecting, according to FactSet.
BofA’s consumer banking division earned $1.81 billion in the quarter, up from $1.76 billion from a year earlier. While revenue was relatively flat year over year, largely due to lingering effects of near-zero interest rates, BofA was able to cut expenses from $4.711 billion in the third quarter 2015 to $4.37 billion this quarter.
Noting the ongoing Wells Fargo sales practices scandal, Bank of America executives said they have seen no evidence of similar behaviour at their bank…
The consumer banking giant said Monday it earned $4.45 billion after paying dividends to preferred shareholders in the three months ending in September, up from $4.178 billion in the same period a year earlier.
The per-share figure rose to 41 cents versus 38 cents a year ago, easily beating the 34 cents per share analysts were expecting, according to FactSet.
BofA’s consumer banking division earned $1.81 billion in the quarter, up from $1.76 billion from a year earlier. While revenue was relatively flat year over year, largely due to lingering effects of near-zero interest rates, BofA was able to cut expenses from $4.711 billion in the third quarter 2015 to $4.37 billion this quarter.
Noting the ongoing Wells Fargo sales practices scandal, Bank of America executives said they have seen no evidence of similar behaviour at their bank…
Manufacturing in New York state slides again in October
– canadianbusiness.com
WASHINGTON – Manufacturing in New York state contracted for the third straight month in October.
The Federal Reserve Bank of New York says its Empire State index slid to a reading of minus 6.8 this month, lowest since May and down from a minus 2 reading in September. Anything below zero signals contraction. Economists had expected the survey to show growth this month.
New orders, shipments and employment all fell this month, but at a slower pace than they did in September.
Prices paid and received by manufacturers grew modestly.
Manufacturers have been struggling with a strong dollar, which makes their goods pricier abroad, and weak investment in machinery by businesses cautious about global economic outlook. But the New York Fed found that manufacturers’ outlook for the next six months is sunnier.
The post Manufacturing in New York state slides again in October appeared first on Canadian Business – Your Source For Business News.
The Federal Reserve Bank of New York says its Empire State index slid to a reading of minus 6.8 this month, lowest since May and down from a minus 2 reading in September. Anything below zero signals contraction. Economists had expected the survey to show growth this month.
New orders, shipments and employment all fell this month, but at a slower pace than they did in September.
Prices paid and received by manufacturers grew modestly.
Manufacturers have been struggling with a strong dollar, which makes their goods pricier abroad, and weak investment in machinery by businesses cautious about global economic outlook. But the New York Fed found that manufacturers’ outlook for the next six months is sunnier.
The post Manufacturing in New York state slides again in October appeared first on Canadian Business – Your Source For Business News.
Before the Bell: Stocks set to fall as earnings in focus
– theglobeandmail.com
A look at overnight markets and what's ahead this trading day in North America
CMHC to issue first 'red' warning for Canada's housing market – BNN
– news.google.ca
BNNCMHC to issue first 'red' warning for Canada's housing marketBNNCanada's housing agency is raising the alarm over the country's real estate sector, warning about a strong risk of problems on the horizon. Canada Mortgage and Housing Corp. will increase the risk rating in its overall assessment of the country's …Association goes to bat for the industryMortgage Broker News'Coming Soon' — an increasingly common tactic in TO's booming housing marketToronto SunMortgage brokers see flurry of business ahead of new rulesCTV Newsall 22 news articles »
