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Author Archives: privatefinancetips

‘Don’t take your frustration out on Heinz:’ Leamington Mayor warns ketchup boycott could backfire

WINDSOR – Be cautious what you boycott. The Condiment War: How ketchup was a rallying cry for Canadian nationalism Little did Heinz realize that two years after closing its Leamington, Ont. plant lingering anger would play right into both your hands of 1 of its biggest competitors. Read on The French’s-Heinz ketchup controversy, with Southwestern Ontario Ground Zero within the ...

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Saputo closing three Canadian plants to cut costs, impacting 230 employees

MONTREAL – Saputo Inc. says it will close three plants in Eastern and Atlantic Canada employing some 230 workers after next year in a proceed to spend less and boost efficiency. The Montreal-based dairy processor and cheese maker said its plant in Sydney, N.S., will close in June, followed by another in Princeville, Que., in August. A third facility in ...

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As director of enforcement leaves, OSC’s staffing dilemma grows

Analysis Longtime director of enforcement Tom Atkinson is leaving the Ontario Securities Commission, the securities regulator revealed Wednesday. While the move was not surprising given that rumours of Atkinson’s move to the Securities and Futures Commission of Hong Kong has been on offer in regulatory and legal circles, his departure is raising another issue that’s been hanging within the OSC ...

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Saying a not-so-pleasant and very expensive goodbye to Opta Minerals

It may be a record for any takeover: the expense of closing the deal – defined within the circular as the per share estimated transaction cost – amount to about 25 per cent of the items shareholders will get. But this is the state of affairs at Opta Minerals, which is set to become put out of its misery at ...

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Canadians increasingly being targeted by online ‘binary options trading’ schemes, regulators warn

Regulators are warning Canadians in regards to a spike in websites promoting “binary trading options platforms” accustomed to bet on how a stock or currency will work on the short time. “No business is currently registered or authorized to promote or sell options in Canada,” the Canadian Securities Administrators warned Tuesday, adding that while investors may see virtual gains around ...

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Federal budget 2016: Ottawa to step up efforts on tax cheats in bid to collect $2.6 billion in back taxes

The government is upgrading efforts to hack down on tax cheats, according to Budget 2016. In its first federal budget, the brand new Liberal government said it will give you $444.4 million to the Canada Revenue Agency within the next five years so it can crack down on tax evasion and combat tax avoidance.  The government says it expects these ...

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Federal budget 2016: Liberals to spend $11.9 billion on infrastructure over two years

The Liberal government claims its new two-phase infrastructure spending program will boost Canada’s GDP by 0.2 percent this year and 0.4 per cent the coming year. Phase one consists of $11.9 billion for a mixture of “green,” social and transit projects within the next 2 yrs. Phase two will concentrate on the construction of projects within the next eight years ...

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Federal budget 2016: Liberals decide against reducing small business tax rate

OTTAWA – The Liberal government revealed Tuesday that it will ‘t be fulfilling its election promise to reduce the little business tax rate, proposing that the rate should remain unchanged at 10.5 per cent for the foreseeable future. The original platform required the speed to become brought down in tranches to nine percent by 2019. It had been already lowered ...

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