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☆ TSX pads quarterly gain as interest rate concerns ease
▼ + stars: | 2023-03-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 158.90 points, or 0.8%, at 20,099.89, its highest closing level since March 8. For the month, the TSX lost 0.6% as global banking turmoil led to a selloff in heavily-weighted financials and volatility in the price of oil. It was up 3.7% in the first quarter of the year but trailing a gain of 7% for U.S. benchmark the S&P 500. It was up 2.4%, helped by a 14.4% jump in the shares of Blackberry Ltd <BB.TO> after the company reported quarterly results. Shares of Shaw rose 3.3%, while Rogers was down 2.9%.

March 30 (Reuters) - Citigroup Inc (C.N) hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp (BAC.N), where he led the Merrill Wealth Management unit. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth management divisions. Fraser signaled the bank's intention to become a global leader in wealth management at its investor day last year. "This is a fantastic opportunity to build a leading wealth management business at the world's most global bank at a time of massive wealth creation," he said in a statement. Sieg's departure prompted the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement.

OTTAWA, March 30 (Reuters) - Canada's province of Alberta - the heart of the country's oil and gas industry - is expected to offer more support for carbon capture utilization and storage (CCUS) projects now that the federal government has its incentives in place, the federal natural resources minister told Reuters on Thursday. This week, Canada's federal budget expanded eligibility for CCUS investment tax credits over the next five years, by adding C$520 million to the C$2.6 billion program laid out in last year's budget. Natural Resources Minister Jonathan Wilkinson said he has had many conversations with the Alberta government on CCUS, including one earlier this week, and he hopes to see some of the major CCUS projects launched by end-year. In an interview with Reuters in January, Trudeau urged Alberta to contribute to CCUS. ($1 = 1.3526 Canadian dollars)Reporting by Steve Scherer and Nia Williams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

March 30 (Reuters) - Citigroup Inc (C.N) on Thursday it has hired Andy Sieg to lead its global wealth arm from Bank of America Corp (BAC.N), where he led the Merrill Wealth management unit. Two years ago, Citigroup unified its various wealth businesses into a single wealth management organization, which was led by Jim O'Donnell and included the Citi Private Bank and Citi Personal Wealth Management. At its investor day last year, Fraser signaled the bank's intention to become a global leader in wealth management. Sieg's departure led to the appointments of Lindsay Hans and Eric Schimpf as co-leads of Merrill Wealth Management, Bank of America said in a separate statement. Sieg joined Merrill Lynch in 1992 and had served as Merrill president since 2017.

U.S. District Judge James Donato in San Francisco said in his order that Google "fell strikingly short" in its duties to preserve records. Separately, the plaintiffs will have a chance to urge Donato to tell jurors that Google destroyed information that was unfavorable to it. The lawyers said Google was deleting chat records every 24 hours and "did so even after this litigation commenced." Google is separately fighting claims in a U.S. Justice Department antitrust case in Washington, D.C., federal court of destroyed chat records. The case is In re Google Play Store Antitrust Litigation, U.S. District Court, Northern District of California, No.

Companies Google Inc FollowAlphabet Inc FollowMarch 24 (Reuters) - A federal judge on Friday set a fast-paced schedule in the U.S. Justice Department's antitrust lawsuit challenging Google LLC's digital advertising technology practices, moving the case along more quickly than either side had proposed. A Justice Department spokesperson and a representative from Google had no comment on Friday. The Justice Department and eight states filed the case in January, seeking to force Google to sell its ad manager suite, claiming that the company unlawfully curbed competition over advertising technology. The case is one of two Justice Department antitrust actions against Google. U.S. District Judge Leonie Brinkema, assigned to the digital advertising case, will preside at the January pretrial conference.

☆ Exclusive: Canada budget to have tax credit for equipment used to produce EVs -sources
▼ + stars: | 2023-03-23 | by ( Steve Scherer | ) www.reuters.com time to read: +4 min

The credit will be available for future investments in equipment used to extract and process critical minerals used in EVs, a second source said, and to purchase equipment used in manufacturing along the entire EV supply chain, including for batteries. Last year, Canada budgeted C$3.8 billion ($2.8 billion) to scale up exploration and infrastructure for critical minerals. Canada has an abundance of the critical minerals used to produce EVs. Last autumn, Canada announced investment tax credits for companies that purchase finished clean energy systems, like solar panels. Instead, the new tax credit will apply to manufacturers buying equipment to build things like solar panels.

[1/2] The processing facility at an oil sands operations near Fort McMurray, Alberta, September 17, 2014. The company joins Canada's biggest oil producers in urging policymakers to boost public funding for the costly technology that is seen as key to cutting emissions from the carbon-intensive oil sands. Until then, the company will pay Canada's carbon tax, set to rise to C$170 a tonne by 2030, Nicholson said. Canada's oil sands produced a record 3.15 million bpd in 2022 and are forecast to hit 3.7 million bpd by 2030, according to S&P Global. "The oil sands are long-life, low-decline assets," said Wood Mackenzie analyst Scott Norlin.

☆ Canada's B.C. province sets high emissions bar for new LNG projects
▼ + stars: | 2023-03-17 | by ( Nia Williams | ) www.reuters.com time to read: +4 min

[1/2] The entrance to Shell's LNG Canada project site is shown in Kitimat in northwestern British Columbia on April 12, 2014. While the tougher regulation will not impact the huge Shell-led (SHEL.L) LNG Canada project already under construction, a proposed export terminal adjoining the small-scale Tilbury LNG facility and the early-stage Ksi Lisims LNG project in northern B.C will fall under the new rule. The province will start exporting 14 million tonnes per annum (MTPA) when LNG Canada enters service in 2025. "That (net-zero requirement) is a very high bar and a high hurdle to pass," said Mark Zacharias, executive director of think-tank Clean Energy Canada, adding the new framework rounds out B.C. 's new regulations also include an oil and gas emissions cap and plans to accelerate the electrification of the economy.

[1/5] Guo Wengui (also known as Miles Kwok) holds a news conference with Steve Bannon in New York, New York, U.S., November 20, 2018. Guo, 52, was charged with 11 criminal counts including securities fraud, wire fraud and concealment of money laundering, after "lining his pockets with the money he stole," U.S. Attorney Damian Williams in Manhattan said in a statement. They will propose a "robust bail package," according to Tamara Giwa, a federal public defender who represented Guo at Wednesday's hearing. Bannon is not accused of wrongdoing in Guo's criminal case. It said it also seized assets purchased with proceeds from Guo's alleged fraud, including a Lamborghini Aventador, and wants Guo to forfeit the yacht.

☆ Canadian premiers accept C$46-bln federal govt healthcare funding offer
▼ + stars: | 2023-02-13 | by ( Nia Williams | ) www.reuters.com time to read: +1 min

Feb 13 (Reuters) - Canada's provincial and territorial premiers on Monday said they will accept an additional C$46.2 billion ($34.64 billion) in healthcare funding from the federal government over the next 10 years, but warned the amount falls short of what is needed. In return for additional funding, the federal government has asked the provinces to commit to some conditions, including better data gathering and sharing. "We have accepted this for now...This is not a long-term solution to the healthcare funding that is needed within this country and by no means is a panacea to fix healthcare," Stefanson said. As a next step Ottawa will hold bilateral meetings with each province to finalize individual funding agreements. ($1 = 1.3336 Canadian dollars)Reporting by Nia Williams Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Black Knight to shed unit in bid to save $13 bln sale to ICE -sources
▼ + stars: | 2023-02-09 | by ( David French | ) www.reuters.com time to read: +3 min

ICE's takeover of Black Knight would follow its $11 billion purchase of Ellie Mae, another mortgage software company, in 2020. ICE provided its consent to Black Knight going ahead with the move, the sources added. It could not be learned if Black Knight is carrying out the sale process for Empower in co-ordination with the FTC. Black Knight and Truist did not respond to requests for comment. Holly Vedova, director of the FTC's Bureau of Competition, said in a speech last week, without addressing the Black Knight deal specifically, that the agency was not inclined to approve mergers on the basis of divestitures.

It is planning to develop a CCS hub in northern Alberta, expected to cost C$16.5 billion ($12.3 billion) by 2030. Trudeau told Reuters in an interview earlier this month Alberta was "hesitating around investing in anything related to climate change". Canada is the world's fourth-largest producer of crude, most of which comes from Alberta's oil sands. The oil and gas sector is the country's highest-polluting industry and needs to drastically cut emissions if Canada is to achieve its climate commitments. 'NO TIME TO SLIP'The Pathways Alliance has already said Ottawa's goal of cutting oil and gas emissions 42% by 2030, equivalent to a 35-megatonne reduction, is impossible.

☆ WWE’s Vince McMahon Settles With Ex-Wrestling Referee Who Accused Him of Rape
▼ + stars: | 2023-01-19 | by ( Joe Palazzolo | Ted Mann | ) www.wsj.com time to read: 1 min

Vince McMahon , the executive chairman of World Wrestling Entertainment Inc., has agreed to a multimillion-dollar legal settlement with a former wrestling referee who accused him of raping her in 1986, according to people familiar with the agreement. Mr. McMahon’s settlement with Rita Chatterton, completed last month, averts a public legal fight over her allegations as Mr. McMahon pursues a possible sale of the company.

☆ Wall Street Journal: WWE's Vince McMahon settles with another ex-employee
▼ + stars: | 2023-01-19 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

The Journal reported Thursday that McMahon completed a settlement last month with Rita Chatterton, its first female referee, who accused him of raping her in 1986. And he settled the case solely to avoid the cost of litigation,” said Jerry McDevitt, a lawyer for McMahon, told the Journal. In addition, Chatteron’s lawyer didn’t respond to CNN’s request for comment and the lawyer declined to comment to the Journal. McMahon has previously paid more than $12 million to four women to cover up “allegations of sexual misconduct and infidelity,” according to a July 2022 Wall Street Journal report. WWE (WWE) shares were up slightly Thursday.

☆ U.S. dollar advances vs major currencies as risk appetite fades
▼ + stars: | 2023-01-18 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

The earlier sell-off in the dollar came after the Bank of Japan maintained ultra-low interest rates. In afternoon trading, the U.S. currency rose against the commodity-linked currencies such as the Australian, New Zealand, and Canadian dollars, which sensitive to risk appetite. The Australian dollar fell 0.7% to US$0.6936, after hitting its highest since August last year. In Japan, the BOJ kept intact its yield curve control (YCC) targets, set at -0.1% for short-term interest rates and around 0% for the 10-year yield, by a unanimous vote. The dollar rose as much as 2.7% to 131.58 yen before gains were pared.

☆ Canadian gunman who killed five in his condo complex complained vibrations in electrical room made him sick
▼ + stars: | 2022-12-22 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

He has a history of domestic abuse with both the mothers of his children and his daughters. One of the officers who responded to a call about an active shooter inside the building shot and killed Villi, authorities said. “We are in absolute shock and utter devastation at the events that have transpired,” Villi’s children said in their statement. The children, who didn’t provide their names, said they have been estranged from him for more than five years. According to court documents, at least two condominium managers quit because of him, and security guards quit or changed shifts to avoid him.

☆ Former WWE CEO Vince McMahon reportedly wants to make a comeback at the company, as he faces a new abuse allegation
▼ + stars: | 2022-12-13 | by ( Travis Clark | ) www.businessinsider.com time to read: +3 min

Former WWE CEO Vince McMahon wants to make a comeback, The Wall Street Journal reported. McMahon retired from the company in July amid a board investigation into misconduct allegations. WSJ reported a new accusation from a former spa manager, who claimed McMahon assaulted her. WWE did not immediately respond to a request for comment from Insider on McMahon's reported desire to make a comeback and the newly reported allegation from the spa manager. McMahon retired from WWE in July amid an investigation by the company's board into alleged payments made to other women who had accused McMahon of misconduct.

Extreme backwardation implied traders expected the balance to remain tight, with a further drawdown of already depleted inventories, and more upward pressure on oil prices. In late November, after consultations with traders, the U.S. Treasury published regulations signalling a relatively relaxed approach to enforcement (“Guidance on implementation of price cap policy”, OFAC, Nov. 22). Following last-minute discussions, on Dec. 2 the cap was set at $60, with a commitment to review it by mid- January 2023 and every two months thereafter (“G7 agrees oil price cap”, European Commission, Dec. 3). SETTING THE PRICE CAP LEVELIn setting a price cap for Russia’s crude and products, U.S. and EU officials have been confronted by a menu of policy options and other considerations. Related columns:- Investors dumped Brent in anticipation of relaxed oil price cap (Reuters, Dec. 5)- Global recession a bigger risk to Russia’s oil revenue than price cap (Reuters, Nov. 11)- Recession would make tough oil sanctions on Russia more likely (Reuters, July 14)- Oil market confronts U.S. and EU policymakers with unpalatable choices (Reuters, June 29)John Kemp is a Reuters market analyst.

WASHINGTON, Dec 5 (Reuters) - The U.S. Army on Monday awarded the contract for its next-generation helicopter to Textron Inc's (TXT.N) Bell unit, ending a years-long competition for the technology that will replace the Black Hawk utility helicopter. The Army's "Future Vertical Lift" competition is aimed at finding a replacement as the Army looks to retire more than 2,000 medium-class UH-60 Black Hawk utility helicopters built by Sikorsky since the 1970s. The Army was looking for an aircraft capable of moving about a dozen troops 400 nautical miles. Ultimately, the contract is potentially worth around $70 billion - over decades - depending on how many the Army and U.S. allies order, the Army told reporters on Monday evening. In the FLARAA competition was Bell's V-280 "Valor," a tiltrotor aircraft that has reached speeds in excess of 340 mph (547 km) according to the Army.

"I remember reading a book once called, 'Sacred Cows Make the Best Burgers,'" Poirier said at the company's investor day. Calgary, Alberta-based TC is widely known for its Keystone oil pipeline, a critical artery for moving Canadian oil to U.S. refiners that dominated headlines over the past decade for an expansion that ultimately failed. Keystone could fetch TC C$12.8 billion, said CIBC analyst Robert Catellier in a note. He added that reducing TC's oil exposure would help it reach its emissions-reduction goals. TC's stake in the Millennium natural gas pipeline in New York state is another logical sale candidate and could fetch $1 billion, said Scotiabank analyst Robert Hope.

☆ C$ dips against greenback; falls harder vs other G10 currencies
▼ + stars: | 2022-12-01 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

It was the only G10 currency to lose ground against the U.S. dollar . The greenback fell 1.1% against a basket of major currencies. "In a weak U.S. dollar environment, the Canadian dollar often lags," said Marc Chandler, chief market strategist at Bannockburn Global Forex LLC. Chances that the BoC would hike by 50 basis points rather than 25 basis points at a policy decision next Wednesday have fallen to roughly 10% from 30% since Powell's comments, money market data showed. The Canadian 10-year yield fell 9.3 basis points to 2.842%, its lowest level since Aug. 18.

☆ Thousands march in Spain to demand end of violence against women
▼ + stars: | 2022-11-25 | by ( Elena Rodriguez | ) www.reuters.com time to read: +2 min

[1/6] A demonstrator with a red paint on her face attends a protest to mark the International Day for the Elimination of Violence against Women in Madrid, Spain, November 25, 2022. REUTERS/Violeta Santos MouraMADRID, Nov 25 (Reuters) - Thousands of people took to the streets in Madrid and Barcelona on Friday evening in marches to mark the International Day for the Elimination of Violence against Women. Since 2003, when statistics started to officially count fatalities, 1,171 women have died as a result of gender violence in Spain, according to the Ministry of Equality. The law, known as the "only yes means yes" law, classifies any non-consensual sex as rape but also sets lighter minimum sentences for certain sexual crimes. Chants of "only yes means yes" rang through the crowds on Friday evening.

☆ New Zealand PM Ardern delayed in Antarctica after plane breaks down
▼ + stars: | 2022-10-28 | by ( Lucy Craymer | ) www.reuters.com time to read: +1 min

WELLINGTON, Oct 29 (Reuters) - New Zealand's Prime Minister Jacinda Ardern spent an extra night Friday at the country's research station in Antarctica after the military aircraft she was meant to be travelling back to New Zealand on broke down. Ardern has been in Antarctica meeting with the country's scientists and visiting the sites of historical importance while promoting the need for co-operation in the region. A spokeswoman for the prime minister said on Saturday that Ardern and those travelling with her are due to return Saturday on a Italian C-13 Hercules military aircraft. Ardern flew on a U.S. military plane to Antarctica after her first flight had to turn back midflight due to bad weather. New Zealand is one of seven countries, including Australia, France and Chile, with a territorial claim to Antarctica.

Rogers' launched the deal to buy Shaw in March 2021, but the competition bureau blocked it saying it would lessen competition in a market which has among the highest wireless prices in the world. He said since the competition bureau sits under the minister, it is a signal to the bureau to settle. The competition bureau did not reply to an email seeking comment. Champagne's announcement comes as the companies start a two-day mediation process starting Thursday at the Competition Tribunal. Competition bureau has said the sale of Freedom Mobile to Quebecor is not sufficient to overcome its concerns about market concentration.

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