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Weekend Reading – Giveaways, asset quilts, income, Vancouver home prices and more + MORE Mar 18th
Learn, save, invest and prosper with My Own Advisor.
Welcome to some new Weekend Reading friends! Earlier this week I contacted the winners of my TurboTax Canada giveaway but unfortunately only a couple of folks got back to me on time so I might need to draw a few new names. Congratulations to r.... More »
Trudeau plays up Canadian diversity and education in bid for Amazon headquarters + MORE Feb 9th
The prime minister signals he’s not prepared offer the e-commerce giant any financial incentives to sweeten the deal.
.... More »
CIBC dives back into tech sector with Wellington Financial acquisition + MORE Jan 8th
Deal allows CIBC to bulk up and launch new business line, servicing growing tech companies
.... More »
Homeownership: The disappearing dream + MORE Oct 5th
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(Illustration by Sébastien Thibault)
In election 2015, one of the most hotly contested financial issues has been the proposed changes to the Home Buyers’ Plan—the federal program t.... More »
Adidas offers to help schools transition away from Native American mascots with logo redesign + MORE Nov 5th
Adidas is offering to help high schools nationwide drop Native American mascots.
The athletic shoe and apparel maker said Thursday it will provide free design resources to schools looking to shelve Native American mascots, nicknames, imagery or symbolism. The German company also pledged to provide f.... More »
Canada needs to start encouraging, not restricting, foreign investors
– theglobeandmail.com
Defensive policies that repel foreign money — such as the Investment Canada Act — are discouraging domestic investment
Penn West sets out survival plan in face of money woes and legal battles
– canadianbusiness.com
CALGARY – Beleaguered light-oil producer Penn West Petroleum Ltd. set out a survival plan at the company’s annual general meeting Wednesday as the company works to move past lawsuits and debt.
Company president and CEO David Roberts told shareholders Penn West will be focusing on improving the performance at its Cardium oil development in Alberta and its Viking oilfield in Saskatchewan, while other assets are up for sale.
Penn West has slashed capital spending for the year by $215 million to $625 million. Despite cost-cutting efforts, losses for the company last quarter totalled $248 million or 49 cents a share, close to three times higher than losses of $89 million or 18 cents a share in the first quarter of 2014.
Besides its financial troubles, Penn West is facing six lawsuits in Canada and one in the United States related to flawed accounting practices the company disclosed last year.
Roberts said the company plans to fight the lawsuits “with vigour”, adding that the account problems have since been resolved…
Company president and CEO David Roberts told shareholders Penn West will be focusing on improving the performance at its Cardium oil development in Alberta and its Viking oilfield in Saskatchewan, while other assets are up for sale.
Penn West has slashed capital spending for the year by $215 million to $625 million. Despite cost-cutting efforts, losses for the company last quarter totalled $248 million or 49 cents a share, close to three times higher than losses of $89 million or 18 cents a share in the first quarter of 2014.
Besides its financial troubles, Penn West is facing six lawsuits in Canada and one in the United States related to flawed accounting practices the company disclosed last year.
Roberts said the company plans to fight the lawsuits “with vigour”, adding that the account problems have since been resolved…
Beware the four horsemen of the investment apocalypse
– theglobeandmail.com
Fear, greed, hope and ignorance have wiped out more value in an investors’ portfolios than the most vicious bear markets. You and your adviser need to talk
Gunfire and confusion in Burundi military coup – BBC News
– news.google.ca
BBC NewsGunfire and confusion in Burundi military coupBBC NewsAn attempted military coup is underway in Burundi with heavy gunfire in the capital Bujumbura. At least 50,000 civilians have fled the small, land-locked country. The East African nation was affected by the overspill of the Rwandan genocide in 1994.Burundi residents celebrate after military officer announces coupThe Globe and MailMilitary seizes control in Burundi coupThe Australian Financial Reviewall 1,067 news articles »
Harper government keeps pitching oil pipelines in U.S., even if Alberta won’t
– canadianbusiness.com
OTTAWA – A new political reality surfaced Wednesday in which Ottawa is aggressively marketing an Alberta pipeline project that the new provincial government says it won’t promote and doesn’t even want.
Finance Minister Joe Oliver’s speech Wednesday before a Wall Street crowd makes it clear Ottawa is happy to take over from the Alberta government when it comes to pitching the stalled Keystone XL project in the United States.
The federal Conservative government’s latest Keystone pitch comes just days after Alberta voters elected the NDP and leader Rachel Notley, who has made it clear she won’t be taking part in the pipeline-promoting trips of her predecessors.
In his address, Oliver once again expressed the Conservative government’s exasperation with the delays in approving the project, which would transport Alberta oilsands bitumen to the U.S.
“To take full advantage of our energy wealth we need to access markets, which implies the construction of pipelines,” Oliver said in his speech, given at an event organized by the Securities Industry and Financial Markets Association…
Finance Minister Joe Oliver’s speech Wednesday before a Wall Street crowd makes it clear Ottawa is happy to take over from the Alberta government when it comes to pitching the stalled Keystone XL project in the United States.
The federal Conservative government’s latest Keystone pitch comes just days after Alberta voters elected the NDP and leader Rachel Notley, who has made it clear she won’t be taking part in the pipeline-promoting trips of her predecessors.
In his address, Oliver once again expressed the Conservative government’s exasperation with the delays in approving the project, which would transport Alberta oilsands bitumen to the U.S.
“To take full advantage of our energy wealth we need to access markets, which implies the construction of pipelines,” Oliver said in his speech, given at an event organized by the Securities Industry and Financial Markets Association…
