DIRS.INFO The most relevant business & tech news

☆ Britain's royal family should follow the lead of major CEOs when it comes to transparency, says expert
▼ + stars: | 2024-03-16 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

The royal household is exempt from freedom of information laws in the UK since it isn't a public authority. Hay suggested that the monarchy should follow the lead of major companies that have been transparent when a CEO becomes unwell. While Kensington Palace was clear that it wouldn't provide a "running commentary" on the princess' well-being, that didn't stop conspiracy theories on her whereabouts. Meanwhile, CNN said it was reviewing all Kensington Palace handouts in light of the incident. Kensington Palace did not immediately respond to a request for comment.

Persons: Kate, —, Bob Krist, George Hay, Hay, JP Morgan Chase, Jamie Dimon, António, Osório, Prince William, Catherine, Duchess, Chris Jackson, Phil Chetwynd, Buckingham, King Charles, Charles III, Max Mumby, Graham Smith, Jack Royston, Royston, Kensington Organizations: Service, Brand Finance, Windsor, Getty, Tourism, Frogmore, Reuters, Barclays, CNBC, Lloyds Banking Group, BBC News, BBC, AFP, CNN, YouGov Locations: London, Britain, António Horta, Horta, Kensington, Cambridge, Belgium, Greece, Bulgaria, Republic

☆ ‘Wonder Man’: Crew member dies after accident on set of Marvel series
▼ + stars: | 2024-02-06 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —A member of the crew working on the upcoming Marvel series “Wonder Man” died Tuesday following an accident on set, according to a statement from Marvel Studios. “Our thoughts and deepest condolences are with his family and friends, and our support is behind the investigation into the circumstances of this accident,” the studio said in a statement to CNN. The crew member, identified by the LA County Medical Examiner’s office as 41-year-old Juan Carlos Osorio of Temple City, California, was reportedly a rigger who fell from rafters. No foul play is suspected and the death investigation is ongoing, Miller said. “Wonder Man” was set to star Yahya Abdul-Mateen II, an actor who had appeared in “Aquaman” and HBO’s “Watchmen.” Wonder Man is a lesser-known Marvel character first introduced in the ’60s.

Persons: ”, Juan Carlos Osorio, Charles Miller, Miller, “, Yahya Abdul, Mateen Organizations: CNN, Marvel, Marvel Studios, LA, Los Angeles Police Department, Radford, CBS Radford Studios Locations: Temple City , California, Studio City , California, CBS Radford Studios —

☆ UBS sold a Credit Suisse private jet that was used by its ex-chair to fly to Wimbledon and the Euros, breaking COVID rules — and the Maldives for a family vacation
▼ + stars: | 2023-12-04 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

A former Credit Suisse chair used the bank's private jet to breach COVID restrictions. AdvertisementUBS has sold the Credit Suisse private jet that prompted its ex-chairman's resignation after just nine months, according to the Financial Times. António Horta-Osório used the bank's Dassault Falcon 7X to travel to sports matches and breach COVID travel restrictions, an internal investigation found. A used Falcon 7X typically sells for around $18 million, according to listings on AV Buyer. The FT reported that Credit Suisse planned to sell its jet before being rescued by UBS earlier this year, but UBS executives pushed through the sale.

Persons: deplaning, —, António, Osório, deplaned, Dan Kitwood, Taylor Swift Organizations: Credit Suisse, Dassault Falcon, Service, UBS, Financial Times, Wimbledon, soccer's, Reuters, FT, Bombardier Global, Business Locations: Maldives, António Horta, London, Horta, Singapore, Zurich

A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada December 13, 2021. The lender said earnings in the 2024 fiscal year to Oct. 31 would be impacted by "slowing economic growth across its markets and increasing regulatory capital requirements" but it would also benefit from interest-earning assets. "We expect a challenging environment will persist for consumers and businesses," Chief Risk Officer Phil Thomas told analysts, citing muted Canadian economic growth, continued inflationary pressures and uncertain prospects for rate cuts. Finance chief Raj Viswanathan said deposit and loan growth were also expected to moderate from 2023 levels, noting savings levels have started coming down in Canada with inflation at multi-year highs, leaving consumers with less cash in hand. Its efforts to streamline operations resulted in a restructuring charge of C$258 million, Scotiabank said.

Persons: Carlos Osorio, Phil Thomas, Raj Viswanathan, Mike Rizvanovic, Scott Thomson, Niket, Balu, Krishna Chandra Eluri, Tomasz Janowski Organizations: The Bank of, Scotiabank, REUTERS, Bank of Nova, Finance, Bank of Canada, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, Bengaluru, Toronto

While high interest rates have boosted the banks' lending margins, residential mortgages, auto loans and commercial real estate loans have slowed as consumers and businesses pulled back. With interest rates forecast to remain high, renewal of the mortgages will squeeze household budgets. Banks are also rethinking lending to industries sensitive to high interest rates, from condo development to office space. "We want to make sure we have some kind of confidence when a project is going to go ahead," said Victoria Girardo, Canadian Western Bank's (CWB.TO) VP in real estate lending. "That is creating liquidity issues across the real estate developer space.

Persons: Carlos Osorio, Ebrahim Poonawala, Mike Rizvanovic, Rizvanovic, Banks, Victoria Girardo, Nigel D'Souza, Nivedita Balu, Mark Porter Organizations: Bank of Montreal, REUTERS, Rights TORONTO, U.S, National Bank, Bank, Veritas Investment Research, Thomson Locations: Toronto , Ontario, Canada, Toronto

[1/2] British Prime Minister Rishi Sunak speaks during the opening session of the Global Food Security Summit at Lancaster House in London, Britain November 20, 2023. Years of political churn - with five prime ministers and a non-stop ministerial carousel since the 2016 Brexit vote - have shaken Britain's reputation for stability among investors. Some executives say the country, long a magnet for FDI, has simply taken them for granted. But companies and investors say that a focus by regulators on limiting costs for bill-payers in sectors such as water, telecoms and energy has crimped investment. British investment minister Dominic Johnson said the government would be in listening mode at the gathering on Nov. 27 to hear how it can remove hurdles.

Persons: Rishi Sunak, Dan Kitwood, Sunak, Emanuel Macron, Jack Paris, Paris, Jeremy Hunt, EY, Alina Osorio, Mikhail Taver, Richard Harrington, Harrington, Dominic Johnson, Johnson, Kate Holton, Sinead Cruise, Andy Bruce, Alexander Smith Organizations: British, Global Food Security, Lancaster House, Hampton Court, Partners, Reuters, European Union, United, Labour Party, India's Tata Group, Britain, AstraZeneca, Ireland, Thomson Locations: London, Britain, Hampton, France, Versailles, European, Germany, United States, Europe, Delaware

☆ Student Borrowers Tap a New Path to Loan Forgiveness: Bankruptcy
▼ + stars: | 2023-11-16 | by ( Gabriel T. Rubin | ) www.wsj.com time to read: 1 min

Around 40 million borrowers hold $1.6 trillion in federal student debt. Photo: Carlos Osorio/Associated PressWASHINGTON—More Americans are filing for bankruptcy to get rid of their student debt. The increase came after the Biden administration made it easier for student borrowers to apply for bankruptcy by overhauling its guidelines last November. The government now supports borrowers’ use of bankruptcy to eliminate student debt when they meet certain economic hardship conditions. That is a sharp change from the old, far more adversarial procedure that borrowers found confusing and intimidating.

Persons: Carlos Osorio, Biden Organizations: Associated Press WASHINGTON —

[1/4] Karolina Vasquez Ramirez plays with her dogs Bingo and Dasha in her home before departing to the airport, in Havana, Cuba, October 25, 2023. It has been very cumbersome," said Osorio, who helped Cuban migrant Karolina Vazquez reunite with her dogs Bingo and Sasha in the United States. "Many of the migrants still cannot come (back to Cuba) and so they rely on third parties to send them their pet." The U.S., the top destination for migrants, has placed Cuba on a list of countries with a high risk of dog rabies, adding additional hoops to the process. Cuba does not have a U.S.-approved laboratory, Vidal told Reuters, which means rabies blood tests must be sent abroad for analysis.

Persons: Karolina Vasquez Ramirez, Dasha, Carlos Carrillo, Nathalie Osorio, Osorio, Karolina Vazquez, Sasha, Maria Gloria Vidal, Vidal, Alien Fernandez, Anett Rios, Dave Sherwood, Sandra Maler Organizations: REUTERS, Rights, Reuters, Cuba's National Center for Animal Sanitation, Thomson Locations: Havana, Cuba, Rights HAVANA, Fort Lauderdale , Florida, chihuahua, Cuban, United States, U.S

☆ Portuguese Bankers Warn Political Instability Could Undermine Reforms, Public Finances
▼ + stars: | 2023-11-16 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

By Sergio GoncalvesLISBON (Reuters) - The resignation of Portugal's prime minister will trigger instability that could delay economic reforms, while making it harder for the country to keep a balanced budget and further reduce debt, bankers warned on Thursday. The government remains fully functional for the time being, at least until parliament has had its final vote on the 2024 budget on Nov. 29. He said reforms should create an environment for companies to achieve better results and compete more effectively globally. The 2024 budget projects economic growth will slow to 1.5% in 2024 from 2.2% expected this year and political instability may also delay public investment, such as using COVID recovery funds, and private investment. "Probably no one wants to invest when there is great instability," said Pedro Castro Almeida, CEO of Santander Portugal.

Persons: Sergio Goncalves LISBON, Portugal's, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Antonio Horta, Osorio, Miguel Maya, Pedro Castro Almeida, Paulo Macedo, Sergio Goncalves, Catarina Demony, Mark Potter Organizations: Credit Suisse, Lloyds Banking Group, Santander Portugal, Caixa Geral Locations: Lisbon, Portugal, Horta, Caixa, Depositos

REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Nov 16 (Reuters) - A 22-year-old self-confessed Canadian white nationalist who deliberately ran over and killed four members of a Muslim family in his truck in 2021 was found guilty of first degree murder on Thursday. The jury took around six hours to convict Nathaniel Veltman, who attacked the family in the Ontario town of London. It sets a precedent against white nationalist terrorism," said Abdul Fattah Twakkal, an imam at the London Muslim Mosque. It was the worst attack against Canadian Muslims since a man gunned down six members of a Quebec City mosque in 2017. In the manifesto, Veltman wrote "I am a white nationalist" and said white people were "facing genocide".

Persons: Flowers, Carlos Osorio, Nathaniel Veltman, Veltman, Islam, Salman Afzaal, Madiha Salman, Yumnah, Talat, Abdul Fattah Twakkal, Christopher Hicks, Tabinda Bukhari, Prosecutors, Ismail Shakil, David Ljunggren, Mark Potter, Nick Zieminski Organizations: REUTERS, Rights OTTAWA, Prosecutors, Canadian Broadcasting Corp, Canadian, Statistics Canada, Thomson Locations: London , Ontario, Canada, Ontario, London, Pakistan, Veltman, Quebec, New Zealand

☆ Portuguese bankers warn political instability could undermine reforms, public finances
▼ + stars: | 2023-11-16 | by ( Sergio Goncalves | ) www.reuters.com time to read: +2 min

Antonio Horta Osorio, CEO of Lloyds Banking Group, arrives at a garden party at Buckingham Palace, London, May 22, 2018. The government remains fully functional for the time being, at least until parliament has had its final vote on the 2024 budget on Nov. 29. He said reforms should create an environment for companies to achieve better results and compete more effectively globally. The 2024 budget projects economic growth will slow to 1.5% in 2024 from 2.2% expected this year and political instability may also delay public investment, such as using COVID recovery funds, and private investment. "Probably no one wants to invest when there is great instability," said Pedro Castro Almeida, CEO of Santander Portugal.

Persons: Antonio Horta Osorio, Simon Dawson, Portugal's, Antonio Costa, illegalities, Marcelo Rebelo de Sousa, Antonio Horta, Osorio, Miguel Maya, Pedro Castro Almeida, Paulo Macedo, Sergio Goncalves, Catarina Demony, Mark Potter Organizations: Lloyds Banking Group, REUTERS, Rights, Credit Suisse, bcp, Santander Portugal, Caixa Geral, Thomson Locations: Buckingham Palace, London, Rights LISBON, Lisbon, Portugal, Horta, Caixa, Depositos

Actors secured these new safeguards as part of a deal announced late on Wednesday, according to Duncan Crabtree-Ireland, chief negotiator for the SAG-AFTRA actors union. The proposed agreement sets a minimum compensation level for AI uses, Crabtree-Ireland said. Crabtree-Ireland said the proposed contract also included safeguards around the use of generative AI to create synthetic actors. "They are being ultra cautious," said Scott Mann, co-CEO and founder of Flawless, a company that uses AI for film dubbing and editing. Film and television writers also won protections around AI use after a five-month-long strike by the Writers Guild of America this year.

Persons: Duncan Crabtree, Carlos Osorio, Crabtree, Walt Disney, Scott Mann, Dawn Chmielewski, Lisa Richwine, Mary Milliken, Bill Berkrot Organizations: National, SAG, The, Toronto, Film, REUTERS, Actors, Reuters, Alliance, Television Producers, Walt, Warner Bros Discovery, Netflix, Technology, Writers Guild of America, Thomson Locations: Ireland, Toronto , Ontario, Canada, Crabtree, Hollywood, Los Angeles

☆ Canada's emission cuts unlikely to hit 2030 target, auditor general says
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Nov 7 (Reuters) - Canada's emissions reduction plan is flawed and will not reach the target of cutting greenhouse gas output by 40% to 45% below the 2005 level by 2030, the country's auditor general said on Tuesday. Falling short of the minimum 40% target for 2030 would mean Canada missing its commitment under the United Nations' Paris Agreement on climate change. Ottawa's plan is insufficient because key measures needed to meet the 2030 target were delayed or not prioritized, the office of the auditor general said in a statement. Canada has missed every emissions reduction target it has ever set. DeMarco said the government could still meet its 2030 target "with drive, focus, and leadership".

Persons: Justin Trudeau, Carlos Osorio, Jerry, Steven Guilbeault, Guilbeault, DeMarco, Ismail Shakil, David Ljunggren, Steve Scherer, David Evans, Deepa Babington Organizations: Billy Bishop Airport, Canada's, interprovincial, REUTERS, Rights OTTAWA, United Nations, Environment, Sustainable, Thomson Locations: Toronto , Ontario, Canada, Ottawa

☆ Canada adds fewer jobs than expected in October, jobless rate rises
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

A help wanted sign hangs in a bar window along Queen Street West in Toronto Ontario, Canada June 10, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Nov 3 (Reuters) - The Canadian economy added a net 17,500 jobs in October, fewer than expected, while the jobless rate edged up to a 21-month high of 5.7%, Statistics Canada data showed on Friday. Analysts polled by Reuters had forecast a net gain of 22,500 jobs and for the unemployment rate to tick up to 5.6% from 5.5% in September. The unemployment rate has risen four times in the past six months, and is now at the highest level since 6.5% in Jan 2022. The services sector gained 10,000 jobs, led by information, culture and recreation as well as health care and social assistance.

Persons: Carlos Osorio, Ismail Shakil, Dale Smith Organizations: Queen, West, REUTERS, Rights OTTAWA, Statistics, Reuters, Bank of Canada, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, Ottawa

A help wanted sign hangs in a bar window along Queen Street West in Toronto Ontario, Canada June 10, 2022. Canada added a net 17,500 jobs in October, Statistics Canada data showed. The softer-than-anticipated jobs report follows data out earlier this week indicating that the economy likely slipped into a shallow recession in the third quarter. "This will keep the Bank of Canada pinned more fully to the sidelines, although we still believe that rate relief remains a distant prospect." The services sector gained 10,000 jobs, led by information, culture and recreation as well as healthcare and social assistance.

Persons: Carlos Osorio, Royce Mendes, that's, Paul Smith, Doug Porter, Ismail Shakil, Steve Scherer, Fergal Smith, Nivedita Balu, Dale Smith, Louise Heavens, Andrea Ricci Organizations: Queen, West, REUTERS, Statistics, Reuters, Desjardins, Bank of Canada’s, The Bank of Canada, BoC, P, P Global Market Intelligence, CENTRAL BANK, Canadian, BMO Capital Markets, Bank of Canada, Thomson Locations: Toronto Ontario, Canada, OTTAWA, Statistics Canada, Ottawa, Toronto

☆ Saskatchewan vows to stop collecting Canada's carbon tax on heating
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

Saskatchewan Premier Scott Moe is seen as Canada's provincial premiers meet in Toronto, Ontario, Canada December 2, 2019. If the federal government does not extend the exemption, Saskatchewan "will stop collecting and submitting the carbon tax on natural gas" starting on Jan. 1. Alberta Premier Danielle Smith has also complained that her province was not included in the carbon tax pause on heating. Conservative opposition leader Pierre Poilievre is holding rallies to "axe" the carbon tax, a message that has resonated amid high inflation. Saskatchewan and other provinces had previously challenged the legality of the carbon tax and lost in a ruling by the Supreme Court.

Persons: Scott Moe, Carlos Osorio, Justin Trudeau, Moe, Danielle Smith, Doug Ford, Pierre Poilievre, Poilievre, Trudeau, Steve Scherer, Tomasz Janowski, Sandra Maler Organizations: Saskatchewan, REUTERS, Rights OTTAWA, Alberta, Ontario, Conservative, Supreme, Thomson Locations: Toronto , Ontario, Canada, Canadian, Saskatchewan, Ottawa, Atlantic, Atlantic Canada, Maritime

☆ UAW Leader Cites Progress at Bargaining Table, Forgoes More Walkouts
▼ + stars: | 2023-10-20 | by ( Ryan Felton | ) www.wsj.com time to read: +1 min

Ford Motor Executive Chairman Bill Ford said the company can’t afford more UAW strikes. “It will have a major impact on the American economy and devastate local communities,” he said. Newsletter Sign-up What’s News Catch up on the headlines, understand the news and make better decisions, free in your inbox daily. Preview SubscribeUAW President Shawn Fain said during a livestream to members Friday that General Motors , Ford Motor and Chrysler-parent Stellantis have each offered 23% wage increases for factory workers over more than four years. That would amount to record contracts for those employees, but the companies still have room to sweeten their offers, he said.

Persons: Bill Ford, ”, Carlos Osorio, Shawn Fain Organizations: Ford Motor, UAW, Associated Press, United Auto Workers, Motors, Chrysler

☆ Canada's Conservative leader urges rejection of RBC's offer for HSBC Canada -media
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOct 19 (Reuters) - Pierre Poilievre, Canada's Conservative party leader, called for the federal government to reject Royal Bank of Canada's (RY.TO) C$13.5 billion ($9.84 billion) offer to buy HSBC's (HSBA.L) domestic unit, the Globe and Mail reported on Thursday. "If the biggest bank in Canada simply buys up a growing smaller player, then there's no hope of ever having more competition in Canadian banking," he told the newspaper. Last month, Canada's Competition Bureau said that RBC's takeover of HSBC Canada was unlikely to hurt competition, clearing the way for the country's largest bank to push ahead with its biggest acquisition. Still, the regulator found that the deal would "result in a loss of rivalry between Canada's largest and seventh-largest banks."

Persons: Carlos Osorio, Pierre Poilievre, Poilievre, Gnaneshwar Rajan, Christian Schmollinger Organizations: Royal Bank of Canada, REUTERS, Conservative, Royal Bank of Canada's, Globe and Mail, HSBC, HSBC Canada, Thomson Locations: Toronto , Ontario, Canada

[1/2] A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Ontario, Canada, Dec. 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOct 18 (Reuters) - Bank of Nova Scotia (BNS.TO) on Wednesday announced plans to cut about 2,700 jobs globally - 3% of its workforce - and take a C$590 million ($430.94 million) charge in the fourth quarter, making it the latest Canadian bank to take cost-cutting steps in a challenging environment. Royal Bank of Canada (RY.TO) and Bank of Montreal (BMO.TO) similarly have cut hundreds of jobs in response to rising costs in a high interest rate environment. Scotiabank said the layoffs will result in a restructuring charge and severance provisions of about C$247 million. Analysts said the charge does not come as a surprise amid a review of is strategic direction.

Persons: Carlos Osorio, Scott Thomson, Darko Mihelic, Jaiveer Singh, Balu, Will Dunham, Shilpi Majumdar, Jonathan Oatis Organizations: The Bank of, Scotiabank, REUTERS, Bank of Nova, Wednesday, Royal Bank of Canada, Bank of Montreal, China's, China's Bank of Xi'an, Analysts, RBC Capital, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, China's Bank, Bengaluru, Toronto

☆ Canada annual inflation rate edges down to 3.8% in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

People pay for their items at a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada's annual inflation rate edged down to 3.8% in September on broad-based price reductions for some travel-related services, durable goods and groceries, Statistics Canada said on Tuesday. This beat analysts' expectations for annual inflation to remain at 4.0%. Percent changesMonth-on-month Year-on-yearSep Aug Sep AugCPI - all items -0.1 +0.4 +3.8 +4.0CPI - common n/a n/a +4.4 +4.8CPI - median n/a n/a +3.8 +4.1CPI - trim n/a n/a +3.7 +3.9Bank of Canada core -0.1 +0.1 +2.8 +3.3All items ex food/energy -0.1 +0.2 +3.2 +3.6Goods -0.3 +0.6 +3.6 +3.7Services 0.0 +0.1 +3.9 +4.3Energy -1.0 +3.7 +5.4 +1.8Seasonally adjusted +0.2 +0.6 n/a n/aCore CPI, SA -0.1 +0.3 n/a n/aNOTE: Analysts in a Reuters survey had forecast September CPI to be 4.0% annualized, and to be up 0.1% on the month. (Reporting by Dale Smith; Editing by Ismail Shakil)((ismail.shakil@tr.com))Keywords: CANADA ECONOMY/INFLATIONOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Osorio, Dale Smith, Ismail Shakil Organizations: REUTERS, Rights OTTAWA, Statistics, of Canada, CPI, SA, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada

REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada's annual inflation rate unexpectedly slowed to 3.8% in September and underlying core measures also eased, data showed on Tuesday, prompting markets and analysts to trim bets for another interest rate hike next week. Analysts polled by Reuters had forecast inflation to hold steady at the 4.0% rate recorded in August. Two of the Bank of Canada's (BoC's) three core measures of underlying inflation also decelerated. Money markets trimmed bets for a rate hike next week after the data. "There's no need for further rate hikes in Canada," Reitzes said.

Persons: Carlos Osorio, Jules Boudreau, stoking, Benjamin Reitzes, Reitzes, Statscan, Derek Holt, Macklem, Ismail Shakil, Steve Scherer, Dale Smith, Fergal Smith, Divya Rajagopal, Jonathan Oatis, Nick Zieminski Organizations: REUTERS, Rights OTTAWA, Reuters, Statistics, Mackenzie Investments, Bank of Canada's, Bank of Canada, BoC, BMO Capital Markets, Scotiabank . Bank of Canada, Thomson Locations: Toronto , Ontario, Canada, Statistics Canada, Mackenzie, Ottawa, Toronto

REUTERS/Carlos Osorio Acquire Licensing RightsTORONTO, Oct 10 (Reuters) - Bank of Nova Scotia (BNS.TO) and Sun Life Financial's (SLF.TO) asset-management division are partnering to tap into the demand from wealthy Canadians looking to invest in private credit, the firms said on Tuesday. The move comes as private credit becomes one of the fastest growing and most attractive private asset classes, forecast to grow to $2.3 trillion in assets globally by 2027, according to Preqin data. The private credit market is less mature in Canada than in the U.S. and Europe but is slowly gaining attention. In a recent survey taken out by Canadian firm Ninepoint Partners, nearly two-thirds of financial advisors said they expect to increase their client or model portfolios' exposure to private credit in the next 12 months. Scotiabank Global Wealth Management is the third-largest business of its kind in Canada with C$631 billion of assets globally, while SLC Management manages $361 billion in assets.

Persons: Carlos Osorio, Glen Gowland, Nivedita Balu, Marguerita Choy Organizations: The Bank of, Scotiabank, REUTERS, Rights, Bank of Nova, SLC Management, Sun, Wealth Management, Ninepoint Partners, Scotiabank Global Wealth Management, Thomson Locations: The Bank of Nova Scotia, Toronto , Ontario, Canada, Bank of Nova Scotia, Sun, U.S, Europe, Toronto

☆ Volkswagen, Umicore venture picks Poland for first car battery parts plant
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

Volkswagen vehicle is parked during a news conference to announce details on the construction of a gigafactory for electric vehicle battery production by Volkswagen Group's battery company PowerCo SE in St. Thomas, Ontario, Canada April 21, 2023. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsBERLIN, Oct 7 (Reuters) - The auto battery parts joint venture between Volkswagen's (VOWG_p.DE) PowerCo and Belgian materials firm Umicore (UMI.BR) has chosen Poland as the site for its first factory, PowerCo said on Saturday. Ionway wants to build up its annual production capacity by the end of the decade to around 160 gigawatt hours (GWh) per year - enough for 2.2 million electric vehicles. Ionway is intended to supply PowerCo's European battery cell factories with key battery materials and to cover a large portion of PowerCo's needs in the European Union. In return, Umicore receives secured access to an important part of Europe's demand for cathode materials for electric vehicles.

Persons: Carlos Osorio, PowerCo, Ionway, Umicore, Sabine Wollrab, Sarah Marsh, David Holmes 私 Organizations: Volkswagen, Volkswagen Group's, REUTERS, Rights, VW, European Union Locations: St, Thomas , Ontario, Canada, Volkswagen's, Poland, Nysa, Ontario

The jobless rate stayed at 5.5% for a third consecutive month, Statistics Canada said. Wage growth is also beating market expectations," said Michael Greenberg, a portfolio manager for Franklin Templeton Investment Solutions. "Despite the aggressive rate hikes by the Bank of Canada, clearly demand remains strong and companies continue to hire. Money markets increased bets for a rate increase later this month after the jobs figures were published. With September's robust gains, the economy is averaging 30,000 monthly employment growth this year, up from 25,000 a month earlier.

Persons: Carlos Osorio, Michael Greenberg, Greenberg, Derek Holt, Holt, haven't, they've, we're, Statscan, Ismail Shakil, Nivedita Balu, Steve Scherer, Fergal Smith, Dale Smith, Mark Porter Organizations: Queen, West, REUTERS, Rights OTTAWA, Statistics, Reuters, Franklin Templeton Investment Solutions, Bank of Canada, Scotiabank, Thomson Locations: Toronto Ontario, Canada, Statistics Canada, U.S, Ottawa

☆ Canada's grocery chains pledge to help cut food prices, government says
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +1 min

A person pushes a shopping cart through the produce section of a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 5 (Reuters) - The Canadian government, under political pressure to tackle high inflation, said on Thursday the country's five major grocery chains had made an initial commitment to help stabilise food prices. Innovation Minister Francois-Philippe Champagne said Canadians would soon see discounts on a number of food products, as well as price freezes and price-matching campaigns. This is Day One of a fight that we are fighting on behalf of Canadians," Champagne told reporters when asked whether tax increases were still possible. Champagne also said Ottawa would establish a special grocery task force to monitor whether the chains were living up to their commitments to keep food prices under control.

Persons: Carlos Osorio, Francois, Philippe Champagne, Justin Trudeau, Champagne, David Ljunggren, Jane Merriman Organizations: REUTERS, Rights OTTAWA, Canadian, Innovation, Walmart, Costco, Thomson Locations: Toronto , Ontario, Canada, Ottawa

Search resuls for: "Osório"

25 mentions found