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Connacher wins court approval to seek bidders for its oilsands assets + MORE Mar 30th
CALGARY _ Oilsands producer Connacher Oil and Gas Ltd. has won court approval for a process to find a buyer or investor that could allow it to emerge from Companies’ Creditors Arrangement Act protection after nearly two years.
A court ruling Wednesday approves the Calgary-based company’s.... More »
Six little known facts about RRSPs that could save you money + MORE Feb 16th
Hold your mortgage inside your RRSP and pay yourself interest, and other handy tips
.... More »
Small space holiday decorating tips that are light on the wallet + MORE Dec 23rd
Want to keep this holiday season merry? Consider sticking to your budget.
But that doesn’t mean you need to be miserly and skip the holiday decorations. Instead, consider some small space holiday decorating tips that are light on the wallet, and make a plan for Christmas shopping.
Seneca Coll.... More »
Ford Canada CEO says company not wavering from $700M investment in Ontario + MORE Feb 17th
Ford’s commitment to investing in its Ontario facilities has not wavered since the election of U.S. President Donald Trump, the head of the automaker’s Canadian operations said Thursday.
“We’re very committed to our manufacturing footprint here in Canada,” Mark Buzzell .... More »
Canadian exporters feel pessimistic on NAFTA uncertainty, seeking new solutions + MORE Dec 16th
TORONTO _ Nearly one-quarter of Canadian exporters believe they are negatively affected by looming NAFTA renegotiation uncertainty and are turning to creative solutions to succeed even if the free trade agreement fails, according to a poll by Export Development Canada.
The federal agency supporting .... More »
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For a few years now, I’ve been inspired by early retirement. We’re certainly not there yet but we’re starting on a good path. Using this site as my guide to document our financial freedom journey I’ve been fortunate to meet a number of fine folks who are willing to share their own financial stories with me. Today’s post is a retirement essay from a reader – because if you save like this you can retire like that, in style.
Bio:
For a few years now, I’ve been inspired by early retirement. We’re certainly not there yet but we’re starting on a good path. Using this site as my guide to document our financial freedom journey I’ve been fortunate to meet a number of fine folks who are willing to share their own financial stories with me. Today’s post is a retirement essay from a reader – because if you save like this you can retire like that, in style.
Bio:
Name: “RBull” from Canadian Money Forum
Age: mid-50s
Family status: married
Retired: fully since 2014; semi late 2011
Retirement plans: Travels the world a few times per year; enjoys financial freedom to the fullest
How did you get started in investing?
First off, life begins when you’re debt free…but I’ll come back to that later. The investing part started for me at age 22 when my career started to take shape.
I did the usual big bank mutual funds routine for several years with a rep until I DIY’ed but was largely still with mutual funds, although dabbled in things like futures, Vancouver exchange penny stocks…
People who say homes ruined by Chinese drywall knock at ‘China’s Great Legal Firewall’
– canadianbusiness.com
NEW ORLEANS – More than a year after suing the Cabinet agency that oversees China’s biggest state-owned companies, lawyers for people who say their homes were ruined by drywall made in China are still trying to get the lawsuit served on the State-Owned Assets Supervision and Administration Commission.
And six other defendants — sued, like the Cabinet agency, as parents of the company that made the drywall — say they’re shielded because they’re Chinese government agencies.
U.S. District Judge Eldon Fallon is considering damages for as many as 4,000 homeowners who say sulfur emissions from drywall made by Taishan Gypsum Co. Ltd. ruined their homes and belongings. Damages could be well over $1 billion, say attorneys for plaintiffs in Virginia, Florida, Alabama, Mississippi, Louisiana and Texas.
Earlier this year, Taishan paid seven Virginia homeowners and their attorneys $2.7 million plus about $500,000 interest. Fallon heard arguments earlier this year about whether those figures, with modifications for costs in different areas, can form the basis for awards in a class action lawsuit…
And six other defendants — sued, like the Cabinet agency, as parents of the company that made the drywall — say they’re shielded because they’re Chinese government agencies.
U.S. District Judge Eldon Fallon is considering damages for as many as 4,000 homeowners who say sulfur emissions from drywall made by Taishan Gypsum Co. Ltd. ruined their homes and belongings. Damages could be well over $1 billion, say attorneys for plaintiffs in Virginia, Florida, Alabama, Mississippi, Louisiana and Texas.
Earlier this year, Taishan paid seven Virginia homeowners and their attorneys $2.7 million plus about $500,000 interest. Fallon heard arguments earlier this year about whether those figures, with modifications for costs in different areas, can form the basis for awards in a class action lawsuit…
Tesco agrees to sell South Korean retailing business to locally led consortium in $6B deal
– canadianbusiness.com
SEOUL, South Korea – British retailer Tesco PLC agreed Monday to sell its South Korean retail business to a locally led consortium in a deal worth about $6 billion.
The acquisition by South Korean private equity firm MBK Partners and a group of Canadian and Singaporean investors is the largest ever in South Korea and one of the biggest deals in Asia so far this year.
Tesco said it will use the 4 billion pounds ($6.1 billion) of cash proceeds from the sale to reduce its debt, which amounts to 4.2 billion pounds. The deal is expected to be completed during the final quarter of this year, pending shareholder approval from Tesco and South Korean government approval.
Homeplus is South Korea’s second-largest retailer. Its chains of discount stores generated annual revenue of 8.6 trillion won ($7.1 billion) through February with 788 billion won earnings before interest, taxes, depreciation and amortization.
Two Canadian pension funds and Singapore state investment company Temasek are part of the consortium…
The acquisition by South Korean private equity firm MBK Partners and a group of Canadian and Singaporean investors is the largest ever in South Korea and one of the biggest deals in Asia so far this year.
Tesco said it will use the 4 billion pounds ($6.1 billion) of cash proceeds from the sale to reduce its debt, which amounts to 4.2 billion pounds. The deal is expected to be completed during the final quarter of this year, pending shareholder approval from Tesco and South Korean government approval.
Homeplus is South Korea’s second-largest retailer. Its chains of discount stores generated annual revenue of 8.6 trillion won ($7.1 billion) through February with 788 billion won earnings before interest, taxes, depreciation and amortization.
Two Canadian pension funds and Singapore state investment company Temasek are part of the consortium…
China’s foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing’s attempts to halt a slide in the yuan and stabilise financial markets following its surprise move to devalue the currency last month.
Switzerland’s Glencore to issue stock, cut debt as market swoons over low commodity prices
– canadianbusiness.com
GENEVA – Swiss commodities giant Glencore has announced a $10.2 billion plan to cut debt and issue shares to adapt to plunging market prices.
The plan involves issuing $2.5 billion of shares, as well as suspending its dividend, further reducing its capital expenditures and selling $2 billion in assets through the end of next year.
Glencore said in a statement Monday that the moves are “prudent” in the face of market volatility and speculation. They come on top of cuts to capital expenditure and costs already announced last month.
The company said it remains “very positive” about the long-term, saying copper and zinc were “supply-challenged” and key ingredients of future global growth. It predicted thermal coal will have an important place in the global energy mix.
The post Switzerland’s Glencore to issue stock, cut debt as market swoons over low commodity prices appeared first on Canadian Business – Your Source For Business News.
The plan involves issuing $2.5 billion of shares, as well as suspending its dividend, further reducing its capital expenditures and selling $2 billion in assets through the end of next year.
Glencore said in a statement Monday that the moves are “prudent” in the face of market volatility and speculation. They come on top of cuts to capital expenditure and costs already announced last month.
The company said it remains “very positive” about the long-term, saying copper and zinc were “supply-challenged” and key ingredients of future global growth. It predicted thermal coal will have an important place in the global energy mix.
The post Switzerland’s Glencore to issue stock, cut debt as market swoons over low commodity prices appeared first on Canadian Business – Your Source For Business News.
