Michel Barnier tells UK to abandon free trade plans to get Brexit deal

first_img whatsapp whatsapp Owen Bennett Speaking in Brussels, Barnier said a full customs union between the UK and the EU would solve the controversial Irish backstop issue as no new checks would be needed on goods crossing the border on the island.Such an arrangement would all but end May’s chances of securing free trade deals with other countries.Barnier also hit out at May’s post-Brexit plan to keep the UK aligned to the EU on goods but not other areas as it would give British business “a major competitive advantage” over its European counterparts.Commenting on the Irish backstop, Barnier said the EU’s plan to keep Northern Ireland in the Single Market and customs union would help keep the border invisible – a goal of both sets of negotiators.He said: “The future relationship itself might mitigate the checks and even make some unnecessary. “For instance a veterinary agreement between the EU and the UK would mean less frequent inspections of live animals.”And we are still open – we are still open – to the idea of having a customs union with the UK. Such a customs union would eliminate an important part of customs checks.”May has ruled out any agreement which could see customs or regulatory barriers being erected between Northern Ireland and mainland Britain.Despite his calls for major shift in the UK’s negotiating position, Barnier claimed a Brexit deal could be agreed by next Wednesday’s European Council summit. Theresa May must abandon her plans for free trade deals with the rest of the world in order to get a Brexit deal, the EU’s chief negotiator Michel Barnier said yesterday. Michel Barnier tells UK to abandon free trade plans to get Brexit deal Wednesday 10 October 2018 7:48 pm Tags: Brexit People Theresa May Sharelast_img read more

Carillion one year on: Government outsourcers are still struggling with growing debt piles

first_imgThe money is spent on a vast spectrum of things, from goods such as stationery and medicine to the construction of schools and roads, and from back office functions such as IT and HR to frontline services such as probation and social care, said think tank Institute for Government.But such is the Cabinet Office’s fear that another major outsourcer might go bust that it is encouraging companies to write so-called living wills – which Capita, Serco and Sopra Steria have already agreed to do – to ensure contingency plans are in place in case they suffer the same fate as Carillion. “This is comfortably within our target range of one to two times and well below our covenants which allow up to 3.5 times.”Unlike many of its rivals, less than half of Serco’s business is in the UK but rather split over four geographies, and Barclays analysts say it outperformed its competitors by over 30 per cent during 2018.However, 2018 revenue is expected to fall by four per cent on the year before as the company seeks to return to growth, starting 2019 by winning a £1.9bn Home Office contract to provide a decade’s worth of accommodation and support for asylum seekers across the UK.Read more: Interserve share price plummets as it admits rescue refinancing planLast month, it was revealed that the government ploughs £284bn – almost one-third of its overall budget – into work done by external suppliers every year. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal Pastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.cominvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.com whatsapp whatsapp Carillion one year on: Government outsourcers are still struggling with growing debt piles Tuesday 15 January 2019 12:11 amcenter_img On the anniversary of Carillion’s collapse, government outsourcers are still reporting ballooning debt levels as they try to balance the books.Kier Group, Interserve, Serco, Sodexo and Sopra Steria, who are all on the government’s list of strategic suppliers for 2019, have taken on hundreds of millions of pounds worth of debt in the last three years. French outsourcer Sodexo, which provides catering and cleaning services, reported last year that its €407m (£369m) debt in 2016 had more than trebled to €1.26bn, though this remains within its target range.Fellow French firm Sopra Steria has also reported net debt growing by £142m, though a spokesperson said its net financial debt had most recently fallen to 1.8 times its earnings before interest, tax, depreciation and amortisation (Ebitda), down from 1.9 times in June 2017.British company Mitie managed to cut its net debt by £6.8m last year, but it still stood at £186.7m at the end of September.Even Rupert Soames’ outsourcer, Serco, which delivered a bullish trading update last month forecasting a 30-40 per cent increase in underlying profit for the year, has seen debt increase from £109.3m in 2016 to £200m in its last update.”Serco’s net debt to Ebitda leverage ratio is expected to be under 1.3 times at the end of the year,” a spokesperson for the company said. Share Interserve, which builds schools and hospitals, has seen its net debt more than double since 2016 from £274.4m to £650m, after taking on several loss-making contracts to build waste-to-energy facilities, an industry it is now exiting.Read more: Can Interserve clean up its mess, or is it destined for the same fate as its failed rival Carillion?Last month the embattled contractor admitted it was in refinancing talks with its lenders to bail it out, causing its share price to slump to record lows.Meanwhile, construction outsourcer Kier Group’s net debt has skyrocketed from £179m in 2016 to its most recently reported figure of £624m at the end of October, though cashflow seasonality means the figures are not like for like.The company announced a rights issue at the end of last year to try to raise money, but only one-third of investors took up its offer of buying heavily discounted shares, raising £250m. Alex Daniel Tags: Capita Carillion Company Interserve Kier Group Mitie Group Serco Grouplast_img read more

NIBC agrees to reduced takeover offer by Blackstone

first_imgNIBC said its board unanimously recommended the new offer, as it still offered the best option. Majority shareholders JC Flowers and Reggeborgh, which together hold about 75 per cent of the bank’s shares, have promised to tender their shares at the newly agreed price. NIBC agrees to reduced takeover offer by Blackstone Angharad Carrick The two parties obtained unconditional approval from the European Commission. “As a result all competition clearances required to close the offer have been obtained,” NIBC and Blackstone said in a statement. In a statement today the parties said they “believe the sustainable and long-term success of NIBC will be enhanced under private ownership”. They also said they “acknowledge the importance of acquiring 100 per cent of the shares and achieving a delisting in order to execute on NIBC’s long term strategy.” whatsapp The takeover values the bank at just over €1bn compared to €1.3bn previously. The US private equity firm cut its original bid to around €7 per share in May after it said the coronavirus crisis threatened to derail the bid entirely. Monday 13 July 2020 12:30 pm Share Also Read: NIBC agrees to reduced takeover offer by Blackstone NIBC and Blackstone intend to terminate the listing of the shares on Euronext Amsterdam as soon as possible, they said in a statement today. center_img The buyout firm agreed in February to acquire NIBC but flagged “substantial uncertainty” in April due to the outbreak of Covid-19. Dutch bank NIBC has agreed to a proposed bid by Blackstone despite the private equity firm lowering its bid amid the pandemic. Blackstone has agreed to pay liquidated damages of €46m if the offer is not made or not declared unconditional. This also includes “if the required regulatory clearances are not obtained in certain instances.” The payments consist of a payment of €4m to NIBC and a payment of €42m to all NIBC shareholders pro rata to their respective shareholding in NIBC. whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Also Read: NIBC agrees to reduced takeover offer by Blackstone Show Comments ▼last_img read more

‘Most mothers don’t have to deal with this’: COVID-19 makes medical travel for pregnant women even harder

first_imgCoronavirus | Family | Health | Southeast‘Most mothers don’t have to deal with this’: COVID-19 makes medical travel for pregnant women even harderFebruary 4, 2021 by Claire Stremple, KHNS – Haines Share:The Carter family in Juneau after the birth of their youngest child. (Image courtesy of the family)Alaska women who live in rural and remote communities usually travel to city centers to give birth — against incredible geographical odds. It hasn’t always been this way. And now, COVID-19 has made a hard trip even more daunting.Audio Playerhttps://media.ktoo.org/2021/02/01HardLaborHaines_LOCALCUT.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.There is no road to the nearest hospital from Haines. It’s roughly 100 miles by small plane or ferry through glacier-strewn mountains. Pregnant women here need to move to Juneau or another city with a hospital a month before their due date.Lori Carter was pregnant with her third child when COVID-19 hit. Pregnant women are considered at high risk for serious illness due to the coronavirus. She went to Juneau for her first ultrasound in mid-March.“That’s kind of when everything started falling into place — or falling apart,” she said.As then-President Trump started announcing travel bans, she wasn’t sure if she would make it home to Haines.“I thought, well, they can’t shut down this airport yet, hopefully, until I make it home. Because my husband was home with the two little girls.”She made it home, but she still had to plan to leave again, three weeks before her C-section appointment, just in case she went into labor early. That’s because at the local clinic there is no birth unit and no OB/GYN. The plan: take the ferry to Juneau and live in a rental home with her two daughters.“I would just tell myself, most mothers don’t have to deal with this. So this is all extra,” Carter said.It wasn’t always like thisUntil the mid 80s, women gave birth in Haines. And if you lived here, Stan Jones was your doctor.“We took our pets to him, we took our people to him,” said Sheri Loomis.“Everything was done at the clinic. We didn’t have a vet, so even our animals got stitched up down there from time to time.”Loomis and her husband Craig started their family in the 1970s. Dr. Jones saw Loomis throughout both her pregnancies. She describes her labors as quick — she was crowning with her second child when she arrived at the clinic.The room wasn’t quite ready. A nurse put Loomis on a gurney in the open hallway by the parking lot.“I’m like, almost totally naked. Well, people are coming to church. By this time, the Presbyterian Church is having everybody come from the services, and they’re wandering over to the car. What’s going on? Anyway, you know, I didn’t care at that point. I could care less what I looked like, who saw what — it didn’t matter,” she said.They picked up steaks on the way home. She said the medical bill was about $400 — with inflation, that would be about $2000 today. The doctor came by the house to check on them for a few days after the delivery.Now she’s a proud grandma. Her own daughter was in Juneau waiting to give birth when Loomis spoke to KHNS.These days, a woman in labor in Haines would be likely to get a medevac. But back in the 70s, if things looked too complicated, Dr, Jones popped you on a ferry or a commuter plane to Juneau.“Once or twice, a baby was born on the ferry,” said Dr. Jones.He was sitting in his living room, in a creaky rocker. Out the window behind him is the small boat harbor, framed by jagged peaks and the longest, deepest fjord in North America.“Once a baby was born mid-air and so, you know, it just depends and what the circumstances are, but it certainly is weather-dependent,” Dr. Jones said.Dr. Jones was Haines’ physician from 1963 through 1989. He attended over 600 births in Haines. No operating room. No backup. Just forceps, his best judgement and sometimes another doctor from University of Washington on the telephone for advice.“We did not lose any mothers. We lost very few babies. In general I felt our record was very, very good,” he said.But in the mid-80s things started to change. Now, most women leave to give birth because the clinic tells them to. Women are asked to leave — move, essentially — in the third trimester, usually around 37 weeks.Dr. Jones says it wasn’t danger that made women stop giving birth out here. He says it was money. He says he had to pay more for medical liability insurance than he made delivering babies.“To me, it is kind of criminal that women are expected to leave their family and go to a place where there’s a hospital, three or four weeks before their anticipated delivery. Because that makes it difficult on the other children. It makes it difficult on the husband and the relationship,” he said.Current nurses and doctors say it’s also a good idea to be within easy reach of blood products and an operating room, just in case.It’s expensive to be out of town for a month — or longer, if the baby is late. It’s common for moms to do it alone, while their spouses work. That’s a month in hospital housing or a motel, eating takeout or hospital food. Waiting.Togetherness in the age of COVID-19Last spring, though, Lori Carter and her husband Mike had a plan. She would take their two young daughters to Juneau until her c-section. Then he would arrive and go to the hospital with her. Carter’s mom would come up from Kansas to watch the girls.She decided to travel by ferry, so they could bring the family truck. They opted to stay in an Airbnb. COVID-safe choices that would allow them to isolate.The hospital was buttoned up tight to protect patients from COVID-19“Mike was the only one allowed in and out of the hospital But they had this wonderful setup so that the girls could get a picture outside from a window view of the new baby,” Carter said.The hospital was buttoned up tight to protect patients from COVID-19, but the hospital let them arrange a family photo through a strategic window: the girls are outside with their dad, and Carter and the new baby are inside. This is togetherness in the age of COVID-19.Carter’s mom and the girls headed back to Haines to wait for Carter and their new brother to be discharged from the hospital. But when they got home, the family had another surprise. Carter’s mom tested positive for the coronavirus. The whole family was home with a brand new baby and everyone was considered a close contact.They got lucky: her mom was asymptomatic. She was isolated on the top floor of the house and talked to her granddaughters through the window.“I had a lot of anxiety this first few days, but just like we’d done with every month and everything through this year, we said we can just take it one day at a time. We can do the best that we can,” she said.There’s no solution to this struggle in the works, at least not on the policy level. And for Carter, it’s all relative.  She sent a video of the new baby boy, Orson. She’s tickling him in the mirror and they’re both laughing. She says she tells him about 2020 and how it was hard and sad. But it brought him into the world, so it wasn’t all bad.This story was produced as a project for the USC Annenberg Center for Health Journalism’s 2020 National Fellowship.Share this story:last_img read more

Premium / Against the odds: Exuberant Maersk, CMA CGM, Hapag exploit tax loopholes

first_imgBy Alessandro Pasetti 22/03/2021 << Go back Email* Please Login Email* Please either REGISTER or login below to continue Password* Reset Your Password New Premium subscriber REGISTER Reset LOGIN Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium Premium subscriber LOGIN Port congestion issues, equipment shortages and a very harmful lack of capacity for the trade are going to vanish later this year the bulls insist? Go away!There is yet one more reason, detailed herein, why AP Møller-Mærsk (APMM), CMA CGM, Hapag-Lloyd and friends will keep capacity at the bare minimum for longer, while talk of adding tonnage where the shippers need it most short term is a pure joke (barring here any mid-term capex considerations).Why, ohhh why Now: why add capacity ... Forgotten your password? Please click herelast_img read more

Pfizer-BioNTech vaccine performs as well in the real world as in clinical trials, new study concludes

first_img Tags CoronavirusresearchVaccines Pfizer and BioNTech’s Covid-19 vaccine performed as well in the real world as it did in the clinical trial that led to its use, a large study conducted in Israel concluded.The study, published Wednesday in the New England Journal of Medicine, is the largest to date assessing the effectiveness of the vaccine, comparing all illness, severe illness, and hospitalizations as well as deaths between 600,000 pairs of vaccinated and unvaccinated people.That a vaccine will perform as well in the real world as it does in the highly controlled setting of a clinical trial is not a given, noted senior author Ran Balicer, director of the Clalit Research Institute of Israel.advertisement Newsletters Sign up for Daily Recap A roundup of STAT’s top stories of the day. “These vaccines are not a force field around you that negates the chance that you will have an illness or that you will have a severe illness,” Balicer said, noting that while two doses of the vaccine offer substantial protection against severe Covid infection and death, “there is residual risk.”“And so I think continuing precautions, especially among those populations at risk … at a time when community spread is evident and is massive, as in the case in Israel, would be the prudent thing to do, even for those who are fully vaccinated,” he said. By Helen Branswell Feb. 24, 2021 Reprints @HelenBranswell HealthPfizer-BioNTech vaccine performs as well in the real world as in clinical trials, new study concludes “The vaccine fulfilled the promise that was there. And it was somewhat of a surprise to see that in a real-world setting, a vaccine was able to perform as well as it did in the very controlled setting of a clinical trial, where cold-chain is perfect and the people are being carefully selected,” said Balicer, who also chairs an expert panel that advises the Israeli government on the pandemic.But he warned that while the vaccine performed very well — it was 94% protective against symptomatic Covid, across all age groups, even older adults — some fully vaccinated people did develop severe illness and some died. During the period of the study, nine people who were fully vaccinated died from Covid-19, compared to 32 people who had not yet been vaccinated.advertisement Privacy Policy Leave this field empty if you’re human: Kathleen Neuzil, director of the Center for Vaccine Development at the University of Maryland School of Medicine, found the results of the study encouraging.“This was a well-done study, and the findings support an impact of the vaccine on multiple important outcomes — any infection, symptomatic infection, hospitalizations and deaths,” she said. “The rapidity with which we are seeing impact after introduction of the SARS-CoV-2 vaccines … provides hope that with enough vaccine supply, we can get this pandemic under control.”The authors of the study, from several institutions in Israel as well as Harvard School of Public Health and Boston Children’s Hospital, reported some data that will likely play into the ongoing debate about whether it would be safe to delay the second dose of the Pfizer vaccine to give a first dose more quickly to more people.The Pfizer vaccine is a two-dose vaccine that is meant to be given 21 days apart. Health authorities in Britain have already decided to delay giving the second dose, and some experts in the United States are pushing for this country to follow suit. But to date the Food and Drug Administration has resisted the calls to change the dosing schedule for the virus.Almost everyone in Israel who got the vaccine received their second dose on time, so that study cannot answer the question of how well the protection induced by the first dose of vaccine would last if it was not boosted at the appropriate time.But the analysis showed that from day 14 after the first shot — the point at which protection is seen to start to take effect — to day 20, the day before the second dose, there was moderate protection against any infection but better protection against serious disease.During that narrow window of time, protection against documented Covid infection after one dose was 46% — below the FDA’s stipulated cut off of 50% efficacy. But for symptomatic infection, hospitalization, and severe illness, the protection for that period was 57%, 74%, and 62% respectively.The authors estimated that one dose of vaccine was 72% protective against death from Covid in that seven-day period, though because of the numbers of deaths was small, it’s difficult to draw firm conclusions.The study also found the vaccine worked well in people with significant health problems — another real-world test that vaccines don’t always pass with flying colors.Noa Dagan, an author also from the Clalit Research Institute, said that for people with one or two health conditions that increased their risk of severe Covid illness, the vaccine worked as well as it did for people who were healthy.Even in people with three or more health conditions, the vaccine’s protection appeared to be strong, with about 89% effectiveness, she said.As Covid vaccines start to be used more broadly, there will be a multitude of studies looking at how well the vaccines work and whether some work better in certain segments of the population than others. Such data are badly needed as the world tries to figure out how best to use vaccines that will be in scarce supply for months or longer.“I think the results are useful, in that we can start to leverage large observational datasets to fill in gaps in our understanding, primarily by enabling finer breakdowns by age, comorbidity, and time since vaccination, as they have done here,” said Natalie Dean, a biostatistician at the University of Florida. Please enter a valid email address. Helen Branswell Senior Writer, Infectious Disease Helen covers issues broadly related to infectious diseases, including outbreaks, preparedness, research, and vaccine development. About the Author Reprints A health worker holds a vial with the Pfizer-BioNTech Covid-19 vaccine. CHRISTOF STACHE/AFP via Getty Imageslast_img read more

Fun for the family: Join the great bird count this weekend!

first_imgAdvertisementWhile you’re out, take hand notes or download the free Great Backyard Bird Count Merlin app that will log the location, species and tally of each bird spotted. This app is helpful to people with no experience bird watching because it uses your location and a series of questions to help you determine what kind of bird you are seeing.   There’s also the option for you to submit a photo of a bird and the app will identify it for you. Lastly, log your results here.  When you log your data you’ll get to see how many other people around the world are doing the same thing as you.  Last year the organizers say more than 250,000 lists were submitted from more than 100 countries!  Raptor nesting season is here — Watch out for diving birds March 11, 2021 RELATEDTOPICS What you can do to help local waterbirds this nesting season March 3, 2021 The annual Great Backyard Bird Count starts on Friday!  This is a global effort of volunteers pledging to go outside for at least 15 minutes between February 12-15 to identify and count every bird they see.  The efforts have helped organizers with the Cornell Lab of Ornithology, the National Audubon Society and Birds Canada monitor the health of bird populations all over the world with growing success since the first count back in 1998.  To get involved, here’s what you do: First, make a plan to spend at least 15 minutes outside (that’s the minimum to participate and there’s no limit during the 4-day count). Any location will suffice.  Go in your backyard and look around or find a trail near your home. Visit your favorite park or choose the closest beach. Just make sure you log your location and keep lists separate if you choose to go out more than once.  AdvertisementTags: birdscenter_img Red Tide causing mass fish kills along Sanibel December 29, 2020 Glue trap ensnares two birds, kills one in Lely community January 24, 2021 Learn more about the benefits this project brings to our environment here.  AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 commentsDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 commentslast_img read more

Soft landing likely for overvalued Canadian housing market: Fitch

Related news Fitch Ratings says that the Canadian housing market could see a soft landing in the years ahead, despite being an estimated 21% overvalued at present levels. The rating agency published a new report Tuesday, which indicates that the Canadian housing market is currently about 21% overvalued, in real terms. It notes that national home prices have rapidly increased since 2001, rising over 130%, outpacing income growth over the same period by over 80%. British Columbia and Quebec are most overvalued among the big provinces at about 26%, it says; with Ontario overvalued by around 21%, and Alberta 15% overvalued. James Langton Keywords Housing Tougher stress tests won’t chill housing market: Scotia Global housing prices rise amid pandemic: BIS Facebook LinkedIn Twitter GTA home sales down 13% between April and May: TRREB Share this article and your comments with peers on social media The Canadian economy has a high level of exposure to increasing home prices, notes Fitch director, Stefan Hilts. “Canadian buyers reaching for homes at high prices are pushing household leverage to record levels, leaving borrowers susceptible to interest rate shocks,” Hilts said. “With a high level of employment and individual net worth tied to the value of the housing stock, a housing downturn could have serious consequences for the overall economy in Canada.” That said, Fitch suggests that, even in a down scenario, nominal home prices in Canada should fall by no more than 10% over the next five years, after taking into account momentum and inflation. And, it says that there are several factors — such as prudent lending practices, strong employment levels, rising incomes and government willingness to address the issue — that could point to an even softer landing. “The Canadian government has been very proactive with numerous policies specifically targeting a soft landing, which augurs for nominal home prices simply flattening out or seeing relatively small reductions,” said Hilts. Still, Fitch says it remains cautious. “Prices continue to be significantly above long-term, sustainable levels, and borrower leverage presents continued risk,” it says in the report. “With borrowers at record levels of household debt, there is a high sensitivity to interest rates, which remain at record low levels.” As interest rates rise over the next few years, there is a risk of payment shocks for some borrowers, it notes. “Borrowers with high debt service ratios and high leverage could be at significantly increased risk in this scenario, and higher borrowing costs could increase mortgage costs and depress home values,” it warns. read more

Contest winners announced

first_img Feds launch deposit insurance review consultations Related news Facebook LinkedIn Twitter CDIC consults on changes to joint and trust account disclosure requirements IIAC requests more time to implement CDIC’s proposed changes R. Johnston, Waterloo, Ont.; D. Dean, Loretto, Ont.; M.A. Raza, Toronto; and M. Grewal, Vancouver. Each received a Samsung Galaxy tablet. Click here to review CDIC’s 20 deposit insurance tips.center_img IE Staff Share this article and your comments with peers on social media Keywords Deposit insuranceCompanies Canada Deposit Insurance Corp. Canada Deposit Insurance Corp. (CDIC) and Investment Executive have announced the winners of a contest aimed at educating advisors about the role of CDIC and the deposit insurance it provides. Congratulations to the four winners: last_img read more

Canadian portfolio flows turn negative in June, StatsCan says

first_img Canadian investors padded their foreign securities holdings in June, whereas foreign investors dumped Canadian stocks and bonds.Statistics Canada reports that foreign investors pulled $5.1 billion from Canadian bonds, and another $1.1 billion from domestic equities, during the month. This was somewhat offset by investors buying $2.3 billion in Canadian money market instruments. Overall, foreign holdings of Canadian securities dropped by $4.0 billion in June, which represents the third divestment in four months.At the same time, Canadian investors added $6.6 billion worth of foreign securities in June.On balance, the Canadian economy recorded a net outflow of $10.6 billion due to cross-border securities flows. And, for the second quarter, net portfolio outflows totalled $17.0 billion.For the first half of 2019, foreign investors bought $32.5 billion in Canadian securities, down from $49.4 billion for the same period in 2018.Canadian investors added $8.4 billion in foreign securities through the first half, compared with $29.4 billion in 2018. Old Pinawa Dam Provincial Heritage Park and Winnipeg River kavram/123RF Share this article and your comments with peers on social media James Langton Companies Statistics Canada Facebook LinkedIn Twitterlast_img read more