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(August 21, 2006) The Bank of Canada has calculated the effect of the Conservative government’s new tax cuts on the consumer price index. Largely attributable to the reduction of the GST from 7% to 6%, the Bank says July’s year-over-year CPI reading was reduced by 0.5 percentage points.

The year-over-year impact on core CPI was also 0.5 percentage points. Other indirect taxes, such as increased excise taxes for tobacco products and alcoholic beverages, partially offset the reduction of the GST.

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Univeris hires new director of professional services

(August 21, 2006) Wealth-management technology firm, Univeris, has announced the appointment of Stephen Farr as director, professional services. Farr is a former project executive with IBM Business Consulting Services’ financial services sector.

“We are very pleased to have Stephen join the Univeris team. He brings enterprise-class consulting and professional-services management expertise to the Univeris team,” states Richard Binnendyk, executive vice-president and vice-president, client services. “Stephen’s background in financial services and a strong client focus is a great addition to our professional services initiatives.”

Univeris’ professional services team offers customized development, consulting services, business-process operations reviews, and audits and implementations, including data conversion, training, integration, business-process transition and on-site support.

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Brompton picks up BARCLAYSfunds

(August 21, 2006) Barclays Global Investors Canada has reached a deal with Brompton Funds, transferring the trusteeship and management of the BARCLAYSfunds closed-end fund business to Brompton.

“Transferring the Funds to Brompton will allow Barclays Canada to focus on its iShares funds and will provide investors with continued access to high-quality investment products while ensuring their interests will be protected; therefore we encourage unitholders to vote in favour of the transfer,” said Rajiv Silgardo, CEO of Barclays Canada.

The transaction adds six listings to Brompton’s lineup, including five closed-end funds, one of which is a split trust and is therefore available either as a trust unit or a preferred share.

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(08/21/06)