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Making sense of the markets this week: September 18 Sep 16th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
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Debt to total assets
– theglobeandmail.com
No description available
Valeant’s new CEO holds first annual meeting since taking over drug company
– canadianbusiness.com
LAVAL, Que. – Valeant’s new chairman and CEO will be sharing his turnaround plan directly with shareholders today at his first annual meeting since assuming leadership of the embattled drug company in late April.
Joseph Papa says he has developed a stabilization plan that the Quebec-based company will pursue over the next three to six months before turning his attention to reviving Valeant’s long-term fortunes.
And, according to Papa, cutting the company’s US$30 billion in debt will be job one.
Papa, a veteran pharmaceutical executive, says he’s looking to sell non-core assets, but plans to keep Bausch & Lomb and Salix, as well as its dermatology, gastrointestinal and consumer products operations.
One of the first items on the sale block is expected to be Egypt-based drugmaker Amoun Pharmaceuticals, purchased last fall for US$850 million.
Its sales have dropped by a third and its top drug slipped off Valeant’s 30 best-sellers list in the first quarter…
Joseph Papa says he has developed a stabilization plan that the Quebec-based company will pursue over the next three to six months before turning his attention to reviving Valeant’s long-term fortunes.
And, according to Papa, cutting the company’s US$30 billion in debt will be job one.
Papa, a veteran pharmaceutical executive, says he’s looking to sell non-core assets, but plans to keep Bausch & Lomb and Salix, as well as its dermatology, gastrointestinal and consumer products operations.
One of the first items on the sale block is expected to be Egypt-based drugmaker Amoun Pharmaceuticals, purchased last fall for US$850 million.
Its sales have dropped by a third and its top drug slipped off Valeant’s 30 best-sellers list in the first quarter…
Goldman Sachs analyst collapses, dies after triathlon
– canadianbusiness.com
STAMFORD, Conn. – Authorities are investigating after an investment banking analyst at Goldman Sachs collapsed and died after participating in a weekend triathlon in Connecticut.
Police tell the Stamford Advocate (http://bit.ly/1rnwLZu ) that 24-year-old Samuel Fisher collapsed about 10:30 a.m. Sunday after receiving his medal for participating in the KIC IT Triathlon in Stamford.
Medics on scene started working on Fisher immediately and he was taken to the hospital where he died.
Police are investigating and an autopsy is being performed to determine the cause of death.
Police say Fisher grew up in Newton, Massachusetts, graduated from Harvard University and was living and working in New York City.
Goldman Sachs said in a statement it was “deeply saddened by the loss of our colleague Samuel Fisher.”
___
Information from: The Advocate, http://www.stamfordadvocate.com
The post Goldman Sachs analyst collapses, dies after triathlon appeared first on Canadian Business – Your Source For Business News.
Police tell the Stamford Advocate (http://bit.ly/1rnwLZu ) that 24-year-old Samuel Fisher collapsed about 10:30 a.m. Sunday after receiving his medal for participating in the KIC IT Triathlon in Stamford.
Medics on scene started working on Fisher immediately and he was taken to the hospital where he died.
Police are investigating and an autopsy is being performed to determine the cause of death.
Police say Fisher grew up in Newton, Massachusetts, graduated from Harvard University and was living and working in New York City.
Goldman Sachs said in a statement it was “deeply saddened by the loss of our colleague Samuel Fisher.”
___
Information from: The Advocate, http://www.stamfordadvocate.com
The post Goldman Sachs analyst collapses, dies after triathlon appeared first on Canadian Business – Your Source For Business News.
OTTAWA — Statistics Canada says the ratio of household credit market debt to disposable income edged down in the first quarter.
The agency says the ratio was 165.3 per cent for the first three months of 2016, down from 165.4 per cent in the fourth quarter of last year.
That means households held $1.65 in credit market debt for every dollar of disposable income.
Statistics Canada says disposable income and household credit market debt increased at nearly the same rate in the quarter.
The report also says household sector net worth rose 1.2 per cent in the first quarter to $9.633 trillion, driven by gains in the value of real estate.
Total household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, totalled $1.933 trillion at the end of the first quarter.
The agency says the ratio was 165.3 per cent for the first three months of 2016, down from 165.4 per cent in the fourth quarter of last year.
That means households held $1.65 in credit market debt for every dollar of disposable income.
Statistics Canada says disposable income and household credit market debt increased at nearly the same rate in the quarter.
The report also says household sector net worth rose 1.2 per cent in the first quarter to $9.633 trillion, driven by gains in the value of real estate.
Total household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, totalled $1.933 trillion at the end of the first quarter.
The post Key measure of Canadian household debt little changed in first quarter appeared first on Macleans.ca.
Key measure of Canadian household debt little changed in first quarter
– canadianbusiness.com
OTTAWA – Statistics Canada says the ratio of household credit market debt to disposable income edged down in the first quarter.
The agency says the ratio was 165.3 per cent for the first three months of 2016, down from 165.4 per cent in the fourth quarter of last year.
That means households held $1.65 in credit market debt for every dollar of disposable income.
Statistics Canada says disposable income and household credit market debt increased at nearly the same rate in the quarter.
The report also says household sector net worth rose 1.2 per cent in the first quarter to $9.633 trillion, driven by gains in the value of real estate.
Total household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, totalled $1.933 trillion at the end of the first quarter.
The post Key measure of Canadian household debt little changed in first quarter appeared first on Canadian Business – Your Source For Business News.
The agency says the ratio was 165.3 per cent for the first three months of 2016, down from 165.4 per cent in the fourth quarter of last year.
That means households held $1.65 in credit market debt for every dollar of disposable income.
Statistics Canada says disposable income and household credit market debt increased at nearly the same rate in the quarter.
The report also says household sector net worth rose 1.2 per cent in the first quarter to $9.633 trillion, driven by gains in the value of real estate.
Total household credit market debt, which includes consumer credit, and mortgage and non-mortgage loans, totalled $1.933 trillion at the end of the first quarter.
The post Key measure of Canadian household debt little changed in first quarter appeared first on Canadian Business – Your Source For Business News.
