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9 Key Things to Remember When Managing Your Investment Portfolio Feb 27th
It is always a good idea to keep your eye on the ball when it comes to managing your portfolio as your investment priorities can easily evolve over time and markets change too, meaning you might have to move your money around to spread the risk.
Here is a look at some of the main things to remember .... More »
Ex-Canopy boss Bruce Linton buys more shares in 'August sale' - Article - BNN - BNNBloomberg.ca Aug 15th
Ex-Canopy boss Bruce Linton buys more shares in 'August sale' - Article - BNN BNNBloomberg.caCanopy Growth shares tumble after first quarter earnings miss, $1.28-billion loss The Globe and MailBagnall: Behind Canopy Growth's massive Q1 loss, some good news Ottawa Cit.... More »
The markets are rallying against all odds. Why? Jun 7th
Over the last four years, it has become increasingly clear that stock market investors don’t care at all about what’s going on in the world.
Right now, America, the world’s largest economy, is entirely devoid of leadership. You would think that having a president who brushes off a brutal pan.... More »
Making sense of the markets this week: May 29 + MORE May 27th
Million Dollar Journey editor and Canadian Financial Summit founder Kyle Prevost shares financial headlines and offers context for Canadian investors.
Banking on boring profits
Consistent, proven business models that take advantage of oligopolistic pricing power are often boring. They don’t .... More »
Is China’s economy slowing down? Jun 17th
Shanghai, China, 2010.
China has been an economic powerhouse for decades and a massive driver of growth and sources of investment around the world. However, as one of the world’s largest economies, it appears to be slowing as it matures.
There are a variety of signs and potential reasons. Trade te.... More »
What Sears retirees can do about the reduced DB pension
– moneysense.ca
Like Stelco and Nortel before it, thousands of pensioners of Sears Canada are experiencing firsthand what happens to corporate Defined Benefit pension plans when a business fails.
In October, Ontario’s Superintendent of Financial Services (FSCO) appointed Morneau Shepell to administer Sears Canada’s underfunded pension plan, a first step to winding the plan down in the wave of store liquidations that are now under way.
According to veteran Sears Canada spokesperson Vincent Power, the Sears DB pension is only 81% funded as of June 2017, although changes in interest rates and markets could alter the final figure. If it stands, it means DB plan members would get a 19% benefits haircut, although Ontario residents would have some restitution under the province’s Pension Benefits Guarantee Fund (PBGF), which we looked at in detail a couple of columns back. The PBGF guarantees the first $1,000 a month of pension, a figure slated to rise to $1,500 but which has not yet been legislated. Residents of other provinces do not enjoy this compensation, and roughly half of Sears employees were outside Ontario…
In October, Ontario’s Superintendent of Financial Services (FSCO) appointed Morneau Shepell to administer Sears Canada’s underfunded pension plan, a first step to winding the plan down in the wave of store liquidations that are now under way.
According to veteran Sears Canada spokesperson Vincent Power, the Sears DB pension is only 81% funded as of June 2017, although changes in interest rates and markets could alter the final figure. If it stands, it means DB plan members would get a 19% benefits haircut, although Ontario residents would have some restitution under the province’s Pension Benefits Guarantee Fund (PBGF), which we looked at in detail a couple of columns back. The PBGF guarantees the first $1,000 a month of pension, a figure slated to rise to $1,500 but which has not yet been legislated. Residents of other provinces do not enjoy this compensation, and roughly half of Sears employees were outside Ontario…
Vancouver eyes San Francisco program to protect cherished community businesses
– canadianbusiness.com
VANCOUVER _ It wasn’t until he announced plans to shut down that Jerry Wolfman learned just how much the outdoor store his father started 70 years ago means to Vancouver.
“It’s like we’re having a wake,” Wolfman said. “Tears in people’s eyes, a hug, people recounting stories of first coming in with their grandparents, their parents, themselves and now bringing their children.”
Wolfman puts much of the blame for the pending closure of Three Vets on soaring property taxes, echoing concerns from other businesses that have gone under in the face of surging real estate prices.
What’s been happening has caught the city’s attention as it has begun looking for ways to preserve heritage businesses whose value to the community goes beyond the stock on the shelves.
City planner Tom Wanklin said the municipality is studying how business legacy programs used in other cities might be adapted to fit in Vancouver.
“San Francisco is one example where they have a program that provides support to historic businesses, those that are regarded as being very precious to the local community and long-standing in the neighbourhood,” he said…
“It’s like we’re having a wake,” Wolfman said. “Tears in people’s eyes, a hug, people recounting stories of first coming in with their grandparents, their parents, themselves and now bringing their children.”
Wolfman puts much of the blame for the pending closure of Three Vets on soaring property taxes, echoing concerns from other businesses that have gone under in the face of surging real estate prices.
What’s been happening has caught the city’s attention as it has begun looking for ways to preserve heritage businesses whose value to the community goes beyond the stock on the shelves.
City planner Tom Wanklin said the municipality is studying how business legacy programs used in other cities might be adapted to fit in Vancouver.
“San Francisco is one example where they have a program that provides support to historic businesses, those that are regarded as being very precious to the local community and long-standing in the neighbourhood,” he said…
How Ontario is failing to help stop opioid deaths
– macleans.ca
A woman carries a naloxone kit and a bag from Insite, the safe injection site, while walking in the Downtown Eastside of Vancouver, B.C., on Wednesday July 27, 2016. (Darryl Dyck/CP)On July 29, 2016, Vancouver Coastal Health, the largest regional health authority in British Columbia, announced that free naloxone kits would soon be available at emergency rooms, detox centres and correctional facilities throughout the Vancouver area.
Each kit consists of two vials of naloxone, a pair of devices for opening the vials, two syringes, a pair of gloves and an identifier card for the person carrying the kit. If an overdose occurs, any bystander equipped with a kit can administer naloxone, which blocks the effects of opioids like fentanyl, and perform CPR until paramedics arrive.
“By fall 2016,” said the agency’s press-release, “all 14 urgent care centres and emergency departments in the [Vancouver] region will have naloxone kits in stock for nurses and doctors to give to patients to take with them upon discharge…
These stocks are set to see major moves Friday
– theglobeandmail.com
Canadian earnings season is starting to pick up just as the United States begins to wind down
Cenovus Energy reports $69M third quarter loss, production more than doubles
– canadianbusiness.com
CALGARY _ Cenovus Energy Inc. (TSX:CVE) says it lost $69 million in its latest quarter as it more than doubled its production compared with a year ago, boosted by its acquisition of most of the Canadian assets of ConocoPhillips earlier this year.
The company says the loss amounted to six cents per share for the quarter ended Sept. 30 compared with a loss of $251 million or 30 cents per share in the same quarter last year.
Revenue totalled $4.39 billion, up from $2.95 billion, as production averaged 590,851 barrels of oil equivalent per day, up from 273,405 a year ago.
Cenovus acquired of most of the Canadian assets of Houston-based ConocoPhillips in May.
The company has since been selling non-core assets and using the proceeds to reduce its debt.
Cenovus announced earlier this week that Alex Pourbaix would become its new president and chief executive starting on Nov. 6. The former TransCanada Corp. executive will replace Brian Ferguson, who is retiring after 33 years with Cenovus and its predecessor companies…
The company says the loss amounted to six cents per share for the quarter ended Sept. 30 compared with a loss of $251 million or 30 cents per share in the same quarter last year.
Revenue totalled $4.39 billion, up from $2.95 billion, as production averaged 590,851 barrels of oil equivalent per day, up from 273,405 a year ago.
Cenovus acquired of most of the Canadian assets of Houston-based ConocoPhillips in May.
The company has since been selling non-core assets and using the proceeds to reduce its debt.
Cenovus announced earlier this week that Alex Pourbaix would become its new president and chief executive starting on Nov. 6. The former TransCanada Corp. executive will replace Brian Ferguson, who is retiring after 33 years with Cenovus and its predecessor companies…
