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Equity Crowdfunding for Cultural Projects

first_imgAdvertisement Twitter LEAVE A REPLY Cancel replyLog in to leave a comment Login/Register With: Advertisement “The crowdfunding structure applies to all sectors,” explains Frédéric Letendre, associate lawyer and founder of Yulex, a law firm that specializes in SME business law. Among other accomplishments, he implemented an equity crowdfunding campaign for the Ubios start-up.For Frédéric Letendre, there are several issues involved in equity crowdfunding that make it a more or less appropriate funding mechanism for cultural enterprises.A tedious and costly mechanism“Carrying out an equity crowdfunding campaign requires a lot of resources,” deems Mr. Letendre.In the case of a crowdfunding campaign pursuant to the Start-up Crowdfunding Exemption, i.e., the less stringent of the two regulations that apply in Canada, Mr. Letendre estimates that the company will need to deploy efforts over anywhere between six and nine months to implement the project, promote the campaign over several weeks and follow up with investors once the campaign is over.“If you take into consideration the communication, public relations, marketing, legal and financial aspects as well as the wages paid to employees managing the project and following up on it, you’ll need to budget anywhere from $10,000 to $25,000 to implement a campaign pursuant to this exemption,” believes Mr. Letendre.As for the Regulation Respecting Crowdfunding which allows companies to raise even more money, it is even more tedious and requires even more upfront resources. For example, financial statements will need to be produced and filed.“There are other ways for companies to raise more money more easily and at a lesser cost,” points out Frédéric Letendre. He however recognizes the other advantages that crowdfunding provides, such as visibility.Substantial amounts requiredAnother problem is that the amounts required to play the equity crowdfunding game are generally much more substantial than those at stake in rewards-based crowdfunding.“There are great crowdfunding success stories out there, where creators raised a lot of money $5, $10 or $20 at a time. However, in an equity crowdfunding scenario, you’ll need to convince people to invest $500, $1,000 or $1,500 in a company they know nothing about,” specifies Mr. Letendre.Little to gain for investorsYet another challenge awaits cultural creators: it is difficultly foreseeable to offer investors the same level of results as would be possible in the case of a business operating in a high-growth sector such as technology, healthcare, finance and so forth.“Why do people buy stocks? In the hope of high returns. To realize a capital gain when they sell off their shares or to make the company in which they are investing so profitable that it begins to pay dividends,” explains Yulex’s founding partner.In Frédéric Letendre’s opinion, such growth levels are hard to achieve in the case of cultural projects.A few possible exceptionsHowever, not all is lost when it comes to the cultural industry and equity crowdfunding.“I believe that this type of financing is appropriate for companies that have the potential of experiencing strong and rapid growth. Think about video games, new media and new technology,” estimates Mr. Letendre.In his opinion, a video game studio that already has the advantage of a strong community could consider this form of financing for as long as it has the means to handle such a campaign.However, it remains true that for the vast majority of cultural projects, rewards-based crowdfunding is the way to go. Facebook Since 2015, Canadian companies wishing to call upon the general public to raise funds can do so through equity crowdfunding—whereby investors acquire a stake in their business. However, this method of financing is generally not appropriate for cultural projects, unless they involve leading-edge technology (video games, for example).Contrary to the crowdfunding proposed on platforms the likes of Kickstarter and Indiegogo, in the case of equity crowdfunding, investors do not receive rewards but instead acquire a stake in the company to which they are contributing. In Canada, this practice is strictly regulated in order to protect investors (refer to Equity Crowdfunding, Province by Province).By definition, equity crowdfunding involves companies rather than projects themselves. However, the mechanism could be used to sell shares in a company founded expressly to launch a project involving a film or TV series. Advertisementlast_img read more


U2 to perform at Canada Day celebrations in Ottawa on July 1

first_imgA spokeswoman for the Department of Canadian Heritage says the Irish rockers will perform one song around noon at the July 1 Canada 150 festivities on Parliament Hill. Other artists set to perform on Parliament Hill that day include Gordon Lightfoot, Walk Off the Earth, Dean Brody, Serena Ryder and Alessia Cara. U2 will perform in Cleveland that night as part of “The Joshua Tree” tour. LEAVE A REPLY Cancel replyLog in to leave a comment OTTAWA — U2 band members Bono and the Edge will perform at next week’s Canada Day celebrations in Ottawa. Officials predict upwards of 450,000 people could descend on Parliament Hill and venues in the capital for the massive event. Advertisement “It’s a beautiful (Canada) Day!” Heritage Minister Melanie Joly tweeted Friday, referencing one of the band’s biggest hits. Advertisement Advertisement Login/Register With: Facebook Twitterlast_img read more


Hedley Dropped By Management Over Sexual Misconduct Allegations

first_img Facebook Twitter Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement TORONTO — The management team representing the pop-rock group Hedley has terminated all “business relationships with the band.”A statement released Friday by Watchdog Management and the Feldman Agency cited “the multiple allegations against Hedley” as the reason for the decision.Given the multiple allegations against Hedley, we have taken the decision to terminate our business relationship with the band, effective immediately. #cdnmusic— Watchdog Management (@watchdogmgt) February 16, 2018 Advertisement Login/Register With: The rockers — fronted by Jacob Hoggard and including Dave Rosin, Tommy Mac and Jay Benison — are under fire in the wake of a flurry of claims from anonymous Twitter users who alleged inappropriate encounters with the band.A statement issued by the band calls the allegations “unsubstantiated.”On Thursday, Corus Radio announced it had suspended all airplay of Hedley songs across its 39 music stations, as did other stations in Edmonton and Vancouver.The Junos also dropped the Vancouver group from the upcoming televised awards bash in what was called a joint decision with the band “after careful consideration of the situation.”Wednesday’s move by the Canadian Academy of Recording Arts and Sciences came shortly after band members issued a statement addressing claims of impropriety involving young fans.“We realize the life of a touring band is an unconventional one,” reads the statement.“While we are all now either married or have entered into committed, long-term relationships, there was a time, in the past, when we engaged in a lifestyle that incorporated certain rock ‘n’ roll cliches. However, there was always a line that we would never cross.”The band said they “respect and applaud the #MeToo movement” and say it is especially important within the music industry, “which does not exactly have an enviable history of treating women with the respect they deserve.”“We appreciate the bravery of those who have come forward with their own stories, and we realize that all of us, as individuals and as a society, can and must do better when it comes to this issue,” says the statement.“However, if we are to have a meaningful, open and honest discussion, we all have to accept and respect that there are at least two sides to every story. The recent allegations against us posted on social media are simply unsubstantiated and have not been validated. We would hope that people will bear-in-mind the context in which these unsupported accusations have been made before passing judgment on us as individuals or as a band.”last_img read more


Teddy Geiger dating Schitts Creek actress Emily Hampshire after transition

first_imgAdvertisement Advertisement Twitter “I am so happy this woman is alive… with the sound of music/She is a song I will sing for a thousand years/She fills my heart with the sound of music/ My heart wants to sing every song it hears,” Geiger captioned another shot of Hampshire.Radar readers know Hampshire is still legally married to husband Matt Smith, though the two called it quits years ago. At the same time, Geiger dated Hollywood actress Emma Stone before her gender transition.The actress has also posted sweet shots of her and Geiger. This August, she even shared a selfie of the two, writing in the caption: “Just me & my girlfriend.” “These Walls” singer Teddy Geiger is living her best life after her transition. As has learned, the 29-year-old is now dating Schitt’s Creek actress Emily Hampshire.Last week, the trans star posted an Instagram photo of Hampshire, 37, writing in the caption, “I love her so much and miss her so much and I need to kiss her and I want to go dancing because she is so cute when she dances and she is my dream and and and goodnight.” readers know that Geiger, who was born a male, has been transitioning into a woman for the past year. While it’s been a difficult road for the singer, she has stayed positive throughout, often posting photos of her progress. Facebook Login/Register With: LEAVE A REPLY Cancel replyLog in to leave a comment Advertisementlast_img read more


Violence Committee Waste of Time

first_imgDonna Smith, aptn National NewsA federal committee that has been travelling the country is a waste of time.That’s according to Pam Palmater, a professor of Indigenous governance at Ryerson University in Toronto. The Status of Women’s committee has spent the past two weeks travelling to western and northern parts of the country talking to a number of Aboriginal women’s groups about violence in their community.But Palmater says there was no reason for this tour.“Of course it failed. I mean does anyone in this country need another study to prove aboriginal women suffer from high degrees of violence. we had statistics canada and sisters in spirit is the one who put the issue on the map.”The committee meetings were poorly advertised, poorly attended, no cameras were allowed during testimony and only certain groups were invited to speak.Palmater says the government is taking a paternal approach to the problem of violence against Aboriginal women.“Obviously they think they can do this better. and the way they do things is certainly not in the spirit of collaboration.Normally, the job of spreading awareness of the issue fell to the Sisters in Spirit Initiative. It’s ground breaking research exposed the fact that nearly 600 Aboriginal women have gone missing or have been murdered in the past 3 decades. But in the late fall, APTN reported that the project was being shut down because the federal government decided it can no longer use taxpayers dollars to conduct it’s research.Palmater believes the government is also controlling the Status of Women committee.“So doing it behind the scenes, not on television, not widely advertised, they can control who comes to the committee, what kinds of comments they’re going to recieve. And you can almost kind of prejudge what the report is going to be like. whereas if you opened it up to the general public and aboriginal women in general you would get a wide variety of perspectives.”In late October the federal government announced that it was spending 10 million dollars to address the issue of violence against Aboriginal women.But the bulk of the money is going to a database that is run by the Royal Canadian Mounted Police in Ottawa and doesn’t specifically track Aboriginal women that have gone missing or have been murdered.  It essentially means that no one is tracking of women who turn up dead or go missing.The Status of Women committee doesn’t have a date to release it’s study.last_img read more


Court supervised Residential school students say theyve been hurt by law firm

first_imgAPTN National NewsOntario Chief Justice Warren Winkler and eight other provincial court judges in different regions of the country supervise the settlement agreement. Justice Winkler has retained class action lawyer Randy Bennett to assist him. Since this is a court-approved and court-monitored process, the court has the authority to oversee and intervene as necessary.Crawford Class Actions, a company that specializes in administering large class action compensation processes, was retained to act as the court monitor. Michael Mooney is the lead man on the IAP file for Crawford Class Actions.A seven-member National Administration Committee (NAC) supervises the implementation of the overall settlement agreement.Supervising the work of the IAP Secretariat is a nine-member National Oversight Committee (OC).Both those committees are made up of representatives of all the parties that signed the settlement agreement: the churches that operated the schools, a national consortium of lawyers who represent the former students, the federal government and the Assembly of First Nations.The IAP Secretariat employs a chief adjudicator and five deputy chief adjudicators. They supervise 110 adjudicators as well as more than 150 support personnel. Sources say the adjudicators are paid $5,000 a day when they are conducting hearings.And there are more than 200 lawyers representing IAP clients. The lawyers also have representation on the NAC and OC.Estimates are that the number of former students who will qualify for IAP hearings will exceed 29,000, more than double the number the government originally projected.That’s 29,000 children who were subjected to having their culture, their language, their connection to their families and to their peoples’ traditions, beaten out of them. Or they were victimized by the various sexual predators who worked at the schools — or both.last_img read more


New Barriere Lake council seeks unity after years of divisions

first_imgAPTN National NewsThe Algonquins of Barriere Lake have been in the headlines a lot over the years.Leadership and logging disputes have divided the members living in the territory.Now, there’s a new council.APTN National News reporter Annette Francis has this story.last_img


Human rights tribunal into how feds treat First Nation children underway

first_imgAPTN National NewsThe Canadian Human Rights Tribunal is hearing a case Monday that alleges Ottawa discriminates against First Nation children through its inadequate funding of family services.The tribunal began in the morning and is hearing from various groups with standing including the First Nations Child and Family Caring Society and the Assembly of First Nations, the two organizations that filed the complaint.Cindy Blackstock, the executive director of First Nations Child and Family Caring Society of Canada will be the first witness.It was Blackstock who first filed the complaint with the tribunal in 2007.She also alleges the federal government retaliated for the complaint.Aboriginal Affairs officials posed as “friends” to access Blackstock’s Facebook page, the tribunal has heard so far.“For far too long there have been two villages in this nation,” said Blackstock. “The time for talking is over, the time for justice for children is now.”APTN fought successfully in Federal Court for the right to have our cameras inside the tribunal and we will be airing stories during our nightly broadcast.The tribunal is expected to last up to 14 weeks.APTN National News reporter Jorge Barrera is providing live updates through his Twitter account @jorgebarrera.More to come throughout the day.last_img read more


Winnipeg womans continuing fight for Shoal Lake 40

first_imgAPTN National NewsThe boil water advisory for the city of Winnipeg ended a week ago.But one city woman is carrying on and she says it’s part of an effort to educate Winnipegers about the situation in Shoal Lake 40.APTN’s Dennis Ward has this story.last_img


RCMP officer in sex assault interrogation video sued for punitive damages

first_imgConst. Kent Hall, right, has been named in a lawsuit by a woman he interrogated after she filed a sexual assault complaint. Photo: B.C. government.Holly MooreAPTN National NewsThe woman at the centre of a disturbing video, recorded while she was reporting a sexual assault in Kelowna in 2012, is suing the RCMP officer who interrogated her.The case stems from then-Const. Kent Hall’s interrogation of the woman who was just 17 at the time. In the interview video obtained by APTN News, the officer asks the woman if she was “turned on” during the alleged assault.A statement of claim filed in Kelowna court Friday names Hall, a Kelowna RCMP officer with a previous criminal conviction, according to documents obtained exclusively by APTN.“Hall interrogates the Plaintiff in the most malicious, degrading and threatening manner,”  the claim reads in part. “Hall subjected the Plaintiff to a brutal, degrading and dehumanizing interrogation for over two hours.”Hall’s criminal conviction stems from a shooting incident in 2009. He was convicted of careless use/storage of a firearm after shooting a suspect who had pepper-sprayed him.Attempts to reach Hall at his detachment for comment on the lawsuit have not been successful.APTN previously identified the woman as “J” as she was in the care of social services.B.C. RCMP told APTN in an email they knew the lawsuit was coming but added they have not received confirmation that it was filed or been formally served.“Generally, once served the RCMP would discuss the matter with our legal counsel (the Department of Justice) and they would provide an official response through the legal process within defined timelines,” the RCMP spokesperson said in an emailed statement.The spokesperson said Commanding Officer Jennifer Strachan’s response to inquiries for previous APTN stories is still relevaheThe June 15 email from the RCMP also confirmed that Hall is the officer involved in the 2009 criminal conviction, adding “the matter was investigated and addressed through the court system.”“I note that should you wish to reference the 2009 matter that was public and covered by the media, there are also other public references about the same police officer in which he was acknowledged twice for his life-saving efforts,” the email adds.Recently, Hall was awarded the St. John Life-saving Award after applying a tourniquet to a German tourist’s leg after the tourist was hit by a motorcycle in 2017.He also received the Lieutenant Governor’s award for holding a suicidal woman as she leapt from a Kelowna bridge.Incident breached Charter rightsThe lawsuit alleges that Hall and the RCMP breached the woman’s charter rights by not telling her why she was detained and failing to advise her of the right to seek counsel..“Hall intentionally and repeatedly used questions that amount to stereotyping of a sexual assault victim, which caused the Plaintiff to doubt her complaint,” the claim says.According to RCMP general occurrence reports obtained by APTN, the woman was brought into the detachment on suspicion of public mischief for lying about the assault, though she was not advised of that.“I thought I was coming in to report the assault,” she said in a recent interview with APTN. “He didn’t tell me my rights.”She was not charged.The lawsuit alleges that Hall and the RCMP breached the woman’s charter rights by not telling her why she was detained and failing to advise her of the right to seek counsel.It is further alleged in the court filing that Hall knew or should have known his behaviour would harm, offend, belittle, demean, threaten and humiliate her.“J” now suffers from severe post-traumatic stress disorder, reduced earning capability, suicidal thoughts and emotional anguish, according to the new statement of claim.None of the allegations have been proven in court.Read more here: B.C. social worker accused of punishing Indigenous youth for sexual assault while in foster careThe video surfaced as part of a civil action brought against the B.C. Ministry of Children and Family Development (MCFD).Dozens of Indigenous children formerly in care, including “J,” are suing the government and individual social workers for allegedly siphoning off their funds. The ministry has admitted “vicarious liability” for the scheme.“J” is also suing MCFD and two social workers in another civil suit.The woman now seeks general, aggravated and punitive damages from the attorney general of Canada, B.C.’s minister of justice and Hall personally.“The actions of Hall, the RCMP, were reckless, arrogant, high-handed and abusive and showed a callous disregard for the Plaintiff’s rights,” the claim says. “Hall and the RCMP have engaged in conduct that is reprehensible and deserves punishment. The Plaintiff therefore, seeks punitive and exemplary damages against the Defendants.” read more


Striking GM CAMI workers awaiting response to weekend contract proposal

first_imgTORONTO – The union representing 2,500 striking workers at GM Canada’s CAMI assembly plant in Ingersoll, Ont., says the company has yet to respond to a comprehensive proposal put forward on the weekend.Unifor spokesman Mike Van Boekel says he expects it will take General Motors of Canada, which owns the plant, about a day to analyze the costs of the proposal.He wouldn’t discuss what’s in the formal proposal, put forward about a week after employees went on strike on Sept. 17.However, the union has said it wants the company to designate the CAMI plant as the lead producer of the Equinox sport utility vehicle — currently the only product built at the plant.Job security has become more of an issue for the union since GM shifted production of its Terrain SUV from the CAMI plant to Mexico earlier this year at a loss of more than 400 jobs.A General Motors spokeswoman acknowledged in an email that the company is engaged in discussions with Unifor but provided no detailed response to its proposal.“We’re expecting an answer sometime today,” Van Boekel, who is chair of the CAMI unit at Unifor Local 88, said Monday morning.A GM plant in St. Catharines, Ont., one of the Ingersoll plant’s parts suppliers, has laid off some workers because of the CAMI strike.“Only a portion of the (St. Catharines) plant is impacted and we are working to minimize the impact,” GM spokeswoman Jennifer Wright said in an email.Unifor announced last week that it had been told at least 255 of the 350 union workers at the St. Catharines plant would be laid off starting Monday.Note to readers: This is a corrected story. An earlier version said the strike began Aug. 17.last_img read more


New cars are quickly getting selfdriving safety features

first_imgDETROIT – Autonomous vehicles get all the headlines, but automakers are gradually adding advanced electronic safety features to human-driven cars as they step toward a world of self-driving vehicles.Car and tech companies are rolling out laser sensors, artificial intelligence, larger viewing screens that show more of the road, cameras that can read speed limit signs, and systems that slow cars ahead of curves and construction zones.Many of the new features repurpose cameras and radar that already are in cars for automatic emergency braking, pedestrian detection and other safety devices. The companies also are keeping a closer watch on drivers to make sure they’re paying attention.On Monday, Arizona’s governor suspended Uber’s self-driving vehicle testing privileges after one of its autonomous vehicles struck and killed a pedestrian last week. But auto engineers and industry analysts still say roads will become safer as more vehicles get automated features that either assist or replace human drivers. The government says 94 per cent of crashes are caused by human error.The cutting-edge devices usually come out first in more expensive vehicles, but go to mainstream vehicles as costs fall.Here are five new safety devices that are showing up in vehicles:STAY FOCUSED: A company called NVIDIA is using artificial intelligence and cameras to sense where a driver is looking and focus sensors everywhere else. If a pedestrian or another vehicle appears where the driver isn’t looking, the system will intervene, either sounding a warning or by stopping the car from moving, says Danny Shapiro, senior director of automotive business for the Santa Clara, California, company. “Before we get to full automation, if the driver is still in control and responsible, we want to know when we should provide alerts and when we should not,” Shapiro says. NVIDIA has a contract with Volkswagen to deploy the system in the next two years. Other automakers are likely to follow.LOOKING BACKWARD: When a driver activates a turn signal, an 8-inch screen behind the steering wheel on Hyundai’s new Nexo hydrogen fuel cell vehicle shows everything on that side of the car plus what’s directly behind it. The system uses existing cameras to let drivers see without turning their heads. “The information we can offer from a camera may be better than a live look over the shoulder,” says Cason Grover, senior manager of vehicle technology planning for Hyundai. Other cars have similar technology but most don’t have as wide of a view.SEEING SIGNS: Mercedes’ new S-Class cars have advanced navigation and global mapping, and cameras that read speed limit signs. These enable the car’s computers to warn drivers of the speed limit or keep them from exceeding it. The system also recognizes upcoming construction zones, curves or roundabouts, and can slow the car ahead of when a driver would. Volvo has a similar system that reads speed signs, including those in school zones.LASER GUIDED: Smaller versions of those spinning 360-degree mechanical laser sensors that sit atop self-driving cars are coming to mainstream vehicles. The lasers, called Lidar for Light Detection and Ranging, can see far-off objects in the dark, in bad weather, and in great detail. Audi plans to introduce a front-facing laser in the grille of the A8 sedan this fall as part of a limited self-driving system that takes control of the vehicle in freeway traffic jams below 37 miles per hour (60 kilometres per hour). Spokesman Mark Dahncke says Audi is still working to consolidate Lidar with radar and cameras as it steps from human control to limited automated driving.Audi’s system is the first step toward more widespread use of Lidar. Parts supplier Continental is working on a fully electronic version for an unspecified automaker that can see smaller objects such as bicycles and pedestrians in three dimensions, 200 metres (656 feet) ahead. Currently Continental sells a Lidar system that spots only vehicles and can see only 10 metres (33 feet) forward. The longer-range system integrated into the car’s body is the missing link in the march toward autonomous vehicles, says Arnaud Lagandré, a Continental vice-president. “You can see through fog, you can see through rain, you can see through the water splash from the car in front of you.”TRAFFIC LIGHT TIMING: For more than a year, some Audi A4 cars and Q7 SUVs in Las Vegas have been linked to traffic light computers. They get a dashboard countdown telling them when lights will change. This can prevent drivers from running lights and can let them time their travel to avoid stopping. It’s the forerunner to vehicle-to-infrastructure communications that will keep cars moving and could warn drivers that a car is about to run a red light. Audi is testing in several other cities. About 600 city traffic lights in Washington, D.C., were just added.last_img read more


Yellow Pages locks out 130 unionized sales representatives in Quebec

first_imgMONTREAL – Yellow Pages Ltd. says it has locked out about 130 of its unionized sales representatives in Quebec.The Montreal-based company says it made the move after numerous bargaining meetings and the intervention of a conciliator failed to reach an agreement.It says the company faced “no realistic choice” but to impose a lockout, accusing the union of being inflexible.Yellow says management will serve customers during the lockout.Chief executive David Eckert says the status quo is incompatible with the competitive market and that the company is willing to resume talks if the unions accepts that the market has changed dramatically.Yellow has sold off assets as it has worked to transform itself from a publisher of printed directories to a digital model.Companies in this story: (TSX:Y)last_img read more


Canadian Tire reports thirdquarter profit up from year ago raises dividend

first_imgTORONTO – Canadian Tire Corp. Ltd. raised its dividend following a quarter spent quietly staging a return to the e-commerce marketplace.The Toronto-based retailer reported Thursday that a spike in third-quarter profits and sales had caused it to increase its quarterly dividend to $1.04 per share, up from its previous 90 cents.The dividend spike was triggered by Canadian Tire earning $231.3 million or $3.15 per diluted share for the quarter ended Sept. 29, compared with a profit of $198.5 million or $2.59 per diluted share a year ago, and reporting revenue totalled $3.63 billion, up from nearly $3.27 billion.Canadian Tire shares spiked on the news, closing up $16.25, or 10.84 per cent to $166.10 on the Toronto Stock Exchange.The increases came days after Canadian Tire, which also owns Mark’s, FGL Sports and Helly Hansen, revealed it was launching home delivery and in-store pick-up available through self-serve storage towers. The company abandoned its e-commerce strategy about a decade ago, saying it was not adequately prepared.President and chief executive officer Stephen Wetmore, who “cancelled” the company’s e-commerce plans in 2009, appeared to be more optimistic about the move this time.“It is a year of execution for Canadian Tire and we have made extremely good progress,” he said, noting e-commerce as one of the company’s achievements.“There is a long list of what we have accomplished this year with a sole intent of building a stronger, more capable company.”It is “early days,” Canadian Tire’s retail president Greg Hicks added, but so far, he said users are gravitating more to the click-and-collect option it offers.The push into e-commerce comes as Canadian Tire is facing similar efforts from retailing rivals including Walmart Inc., which is launching self-serve towers of their own, and online giants like Amazon Inc.Hicks described its rivals and the strategies they are deploying as “highly competitive,” but said they haven’t seen much price inflation.“Nobody seems to want to give an inch. I expect that to continue,” Hicks said. “The competition is ensuring they keep their fair share. We think we have a good pulse on how to react to that.”The company also said it hasn’t seen a lack of sales because of slowed growth in Canada’s housing markets and noted that it has yet to be impacted by Canada increasing its de minimis level — the value of product consumers can buy online without being forced to pay import duties or taxes — to $150 for custom duties and $40 for sales taxes under the renegotiated North American Free Trade Agreement.The U.S. had been pushing for Canada to raise their threshold from $20 to $800.“That for the most part has turned out where we expected and wanted it to turn out,” said Wetmore. “It is not a material concern for us at the moment, but we will obviously keep an eye on it.”Companies in this story: (TSX:CTC)last_img read more


November crude by rail exports set new record despite slower growth pace

first_imgCALGARY, A.B. – The National Energy Board says crude-by-rail exports from Canada grew at a slower pace in November, but still reached a new record high.Canada exported more than 330,000 barrels per day of oil, up about one percent from October’s total of 327,000 bpd, and more than double the 148,000 bpd moved in November 2017.The slower November growth came after double-digit month-over-month growth in August, September and October. Full export pipelines were blamed for a glut of oil in Western Canada last fall that led to large discounts for bitumen-blend Western Canadian Select crude compared with New York benchmark West Texas Intermediate.Those differentials have narrowed since the government of Alberta announced last month it would impose crude oil production curtailments of 325,000 bpd starting Jan. 1.The province has also promised to buy as many as 80 locomotives and 7,000 rail tankers to help move oil to markets starting in late 2019.Oilsands giant Suncor Energy Inc. has warned that the tighter differentials have made crude-by-rail shipping “uneconomic.”Analysts estimate it costs about US$20 per barrel to ship Canadian oil by rail to markets on the U.S. Gulf Coast, so discounts that are lower than that make the option less attractive.last_img read more


20th Annual Steak Lobster Dinner and Dance

first_imgFORT ST. JOHN, B.C. – Saturday, May 11th, 2019 the 20th Annual Steak & Lobster Dinner and Dance will take place at the Legion.Hosted by the PPCLI 2276 Army Cadets, the doors will open at 5:00 pm with dinner being served at 6:00 pm. The evening will be headlined by the band TrainWreck from 9:00 pm – 1:00 am. There will also be silent and live auctions as well as 50/50 draws.Tickets for the event are $50 per ticket and can be purchased from the Legion or by contacting Tina Edwards; 250-329-7379. To view the FB Event page; CLICK HERElast_img


Federal Government invests 131 million to increase capacity at Stewart World Port

first_imgMinister of Transport, Marc Garneau, says the Federal Government is investing in projects, such as the Stewart World Port expansion, to ensure that Canada’s transportation networks remain competitive and efficient.“Our government is investing in Canada’s economy by making improvements to our trade and transportation corridors. We are supporting projects to efficiently move goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and ensure that Canada’s transportation networks remain competitive and efficient.”These investments are expected to have important economic and employment benefits for the region by creating an estimated 275 jobs in the region during construction. STEWART, B.C. – The Government of Canada has announced that it will be investing $13.1 million for the Stewart World Port.According to the Government, this investment will go towards a project that aims to increase capacity at the Stewart Port and move Canadian goods to international markets more efficiently.Improvements to the Stewart World Port will enable shippers to move goods directly from Northern B.C., Yukon, Alberta and Saskatchewan to overseas markets via the port instead of trucking or shipping by rail to other western marine port locations.last_img read more


RCMP respond to fatal gravel truck rollover on Thursday morning

first_imgSaunderson says the driver was pronounced dead at the scene and the cause of the collision is still currently under investigation by the Fort St. John RCMP.The name of the driver has not been released. FORT ST. JOHN, B.C. – Fort St. John RCMP and emergency crews were called to the scene of a fatal collision on the morning of Thursday, September 5.At around 9:05 a.m., RCMP received a call of a gravel truck rollover at the 27 km mark on Halfway River Road.According to RCMP Corporal Madonna Saunderson, one witness at the scene said the truck failed to negotiate a turn and drove off the road, causing it to flip.last_img


FinTech hub now boasts of 25 units

first_imgKolkata: The FinTech hub in New Town that was founded by Chief Minister Mamata Banerjee in 2013, now has 25 units with land being allotted to a leading bank and a noted legal firm recently.”The South Indian Bank was allotted a 0.248 acre land while the noted legal firm has also been allocated the same area. With the Bengal Silicon Valley IT Hub close by and the wave generated by the judicial ecosystem with the first breakthrough ushered in by allotting a plot to the leading advocate and solicitor firm of the state, there has been a unique confluence of Financial-Legal-FinTech-IT Hub in the area,” a senior official of the state Information Technology & Electronics (IT&E) department said. Also Read – Bengal family worships Muslim girl as Goddess Durga in Kumari PujaThe legal component was added to the FinTech hub in 2014, with setting up of the National Green Tribunal in the vicinity and later, the Calcutta High Court was given a 10 acre plot at the CBD (Commercial Business District), close to the Financial Hub centre. Anita Nandi Ray, Chief Representative India from the city of London’s India Office at Mumbai, joined a group of bankers, financial institutions, FinTech startups, Webel, Webel Technology Limited, HIDCO and PwC officials and senior officers of the IT department at a conference held in HIDCO Bhavan on Wednesday. Also Read – Bengal civic volunteer dies in road mishap on national highwayRay appreciated the focus and synergy likely to be created with this unique confluence. She mentioned that with a full Brexit expected to take place in March 2019 or soon thereafter, UK’s Financial Services are showing interest in India with its large market, complex regulations requiring technological interventions to ensure compliance and advanced FinTech payments framework. Ray handed over three recent studies conducted on India-UK Payments landscape, India-UK InsureTech landscape and India-UK RegTech landscape. The IT officials informed that 100 acres of land in the Silicon Valley Hub has already been applied for and expression of interest has already been floated to allot another 27 plots covering an area of about 56 acres for the third phase of the hub. The plots will be allotted on a 99-year lease-hold basis.last_img read more


India conveys concerns to Pak over presence of Khalistani separatists on Kartarpur

first_imgNew Delhi: India on Friday summoned Pakistan’s deputy high commissioner here and conveyed concerns over the presence of several Khalistani separatists in a committee appointed by Pakistan on the Kartarpur Corridor, sources said. India also asked Pakistani Deputy High Commissioner Syed Haider Shah his country’s stand on on key proposals put forward by New Delhi at the last meeting held in Attari to discuss the modalities of the Kartarpur Sahib Corridor, they said. A Ministry of External Affairs (MEA) statement said it has been conveyed to the Paksitani side that the next meeting on the modalities of the corridor can be scheduled at an appropriate time after receiving Pakistan’s response. The next round of talks were scheduled to be held on April 2 at Wagah border. In order to take forward the infrastructure development for the corridor in an expeditious manner, India has proposed to hold another meeting of technical experts in mid-April to resolve outstanding issues at the zero point agreed to at the last meeting, the statement said. The Indian government remains committed to realising the long pending demand of the Indian pilgrims to visit the Gurudwara Kartarpur Sahib using the corridor in a safe, secure, smooth and easy manner, it said. India has asked Pakistan to allow pilgrims to travel on foot, if they wish. It also urged that another 10,000 pilgrims be allowed access on festivals like Baisakhi and Gurupurab. Last November, India and Pakistan agreed to set up the border crossing linking Gurudwara Darbar Sahib in Kartarpur, the final resting place of Sikh faith’s founder Guru Nanak Dev, to Dera Baba Nanak shrine in India’s Gurdaspur district. Kartarpur Sahib is located in Pakistan’s Narowal district across the river Ravi, about four km from the Dera Baba Nanak shrine. Vice President M Venkaiah Naidu and Punjab Chief Minister Amarinder Singh had on November 26 last year laid the foundation stone of the Kartarpur corridor in Gurdaspur district. Two days later, Pakistan’s Prime Minister Imran Khan laid the foundation stone of the corridor in Narowal, 125 km from Lahore.last_img read more