Monthly Archive: May 2018

Valeant will issue US$3.815 billion of loans and US$750 million each of secured and unsecured bonds

TORONTO — The Bank of Canada’s senior deputy governor says more diverse perspectives are needed at the policy decision-making table to avoid falling into an “echo chamber” that reinforces the same viewpoint. Carolyn Wilkins says while such a move may not seem relevant for a central bank at first, the Bank of Canada’s role in […]

MONTREAL — WestJet Airlines is promising to provide full refunds if flights are cancelled because of a possible pilots strike. In response to passenger tweets expressing anxiety about their upcoming vacations, the Calgary-based airline says it understands the concerns. WestJet says the refund would be in the original form of payment. However, a passenger said […]

The US$10 billion funding makes Ant the world’s largest fintech firm and equips it with enormous resources for expansion

NEW YORK — A New York City artist is facing eviction and a $185,000 fine after renting out her rent-regulated loft to tourists on Airbnb. The New York Post reports a judge ruled this week that a landlord could evict Eileen Hickey. Landlord Robert Moskowitz says Hickey made $4,500 a month by renting her Manhattan […]

It is ‘going to be tough and it’s going to be costly to stamp out this outbreak,’ WHO official says.

TORONTO — Onex Corp. reported a loss in its latest quarter, a day after it raised its quarterly dividend by 17 per cent. The private equity firm, which keeps its books in U.S. dollars, reported a loss attributable to shareholders of US$158 million or $1.56 per share. That compared with a loss attributable to shareholders […]

WASHINGTON — The U.S. Postal Service reported another quarterly loss on Friday after an unrelenting drop in mail volume and costs of its health care and pension obligations outweighed strong gains in package deliveries. Amid sharp criticism from President Donald Trump that it is being scammed out of billions by online retailers such as Amazon.com, […]

The interest from borrowing money to invest is generally tax deductible, but it gets more complicated if you invest loan proceeds in mutual funds

MONTREAL — Power Corp. says its net earnings more than doubled to a record $525 million in the first quarter. The Montreal-based holding company — whose assets include Power Financial, Sagard Investment Funds and China Asset Management Co. — beat expectations after earning $1.13 per share for the period ended March 31. That compared with […]