Industry News

Decorative pattern

Advisors told to rethink CI’s role

(April 2008) The world is changing. Where we once relied on coal, oil and gas for our energy needs, we are now switching to wind, sun and biofuel alternatives. Where we once relied on defined benefit pension plans to fund the time between retirement and death, we are now incorporating income annuities and innovative insurance […]

By Romana King |April 28, 2008

3 min read

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On The Shelf:

(April 25, 2008) The manager of The Hartford Mutual Funds announced that, effective May 9, 2008, all classes of units of Hartford Canadian Dividend Growth Fund, Class D units of each of the Hartford Mutual Funds, and DCA Class D units of Hartford Canadian Money Market Fund will be closed to new subscriptions (other than […]

By Staff |April 25, 2008

1 min read

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Briefly:

(April 25, 2008) The Financial Consumer Agency of Canada (FCAC) launched a new web comparison tool on savings accounts. The Savings Account Selection Tool is designed to help Canadians find the best savings account for their banking needs and habits. The new tool allows savers to zero in on 41 different savings accounts offered by […]

By Staff |April 25, 2008

2 min read

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Companies way behind in adopting IFRS: FEI Canada

While January 1, 2011, might seem a long way off, for companies adopting the International Financial Reporting Standards, that date is approaching faster than most would like to admit. According to a Financial Executives International Canada survey, 78% of 512 financial executives surveyed haven’t looked at the differences between IFRS — the reporting standard that […]

By Bryan Borzykowski |April 25, 2008

4 min read

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ABCP restructuring plan approved

Holders of third-party asset-backed commercial paper (ABCP) overwhelmingly approved a restructuring plan in a vote on Friday. Approximately 96% of the noteholders voted in favour of the plan to swap the ABCP for new longer-term notes. Only a majority was needed. And noteholders with $28.8 billion worth of paper — more than 90% — approved […]

By Craig Sebastiano and Jody White |April 25, 2008

2 min read

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CFOs less concerned about pension plan crisis: Watson Wyatt

In a new Watson Wyatt/Conference Board of Canada report, just 26% of 168 executives surveyed feel the problems with pension plans will be long-lasting. That’s down from 61% in 2006 and 48% in 2007. “While pension risk continues to be a hot button issue for many organizations, this year’s survey reveals that respondents are less […]

By Bryan Borzykowski |April 25, 2008

2 min read

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Briefly:

(April 24, 2008) The Fraser Institute, an independent non-profit research think-tank, has released a new book examining what Canadians have paid in taxes since 1961. The findings show that the total tax bill of the average Canadian family has increased by more than 1,700% in the past 47 years. The new book, Tax Facts 15, […]

By Staff |April 24, 2008

5 min read

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Expect oil prices to double by 2012: Rubin

If you think oil prices are high now, just wait four years. Jeff Rubin, a leading economist at CIBC World Markets, expects oil prices to nearly double by 2012. The increase will happen, he says, primarily because of supply issues. “Our latest review of supply suggests oil production will hardly grow at all, with average […]

By Bryan Borzykowski |April 24, 2008

3 min read

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Judge paves way for

Justice Campbell, who has overseen the Companies’ Creditors Arrangement Act (CCAA) protection for all of the frozen ABCP, had the power to delay or allow amendments to the restructuring proposal put forth by the Pan-Canadian Committee, headed by Purdy Crawford. There are an estimated 200 institutional noteholders with about $5 billion in ABCP that are […]

By Mark Noble |April 24, 2008

3 min read

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Briefly:

(April 23, 2008) TSX Group has announced that a business development delegation, led by senior vice-president Richard Nadeau, will set out to develop stronger business ties with China in mid-May. The purpose of the visit is to continue to promote Canada as a strong player and destination marketplace in the international capital markets arena. “We […]

By Staff |April 23, 2008

4 min read

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