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Kim Cattralls brother Christopher found dead on Alberta property

first_imgAdvertisement Twitter LACOMBE, ALTA.—Christopher Cattrall, the brother of Sex and the City star Kim Cattrall, has been found dead on his property in rural southern Alberta, according to police.The actress tweeted Sunday afternoon that she and her family were announcing Christopher’s “unexpected passing” — less than 24 hours after she took to Instagram to ask for help in searching for her brother.“At this time we ask for privacy,” Cattrall said in the post. “We want to thank you all on social media for your outpouring of love and support in this trying time.”It is with great sadness that myself and my family announce the unexpected passing of our son and brother, Chris Cattrall. At this time we ask for privacy. We want to thank you all on social media for your outpouring of love and support in this trying time. pic.twitter.com/n4dQAMrTvS— Kim Cattrall (@KimCattrall) February 4, 2018 Police said in a news release Sunday afternoon that Cattrall’s body was found on that property.“The investigation into the circumstances surrounding his death will continue by the RCMP, but preliminary information indicates that his death is not being considered suspicious,” RCMP said in the release.Police said they would not be commenting further on the case out of respect for the family. Kim Cattrall, who was born in the U.K. but spent much of her childhood in Canada, had said in an earlier Instagram post that her brother’s keys, cellphone and wallet were left on a table in the house, and his front door was unlocked and his seven dogs were left alone.THE CANADIAN PRESS Advertisement Facebook LEAVE A REPLY Cancel replyLog in to leave a comment RCMP had said the 55-year-old was last heard from on Tuesday, and was believed to have been at his home on a rural property in Lacombe, Alta., at the time. Login/Register With: Advertisementlast_img read more

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ED THE SOCK WANTS TO DISRUPT TELEVISION — AGAIN

first_imgIn his tiny basement, Kerzner shows a camera rig that he created using a dollar-store magnifying glass and a GoPro-sized camera to film Ed.“The reality is, you don’t need a huge television studio and millions of dollars to be a broadcaster anymore,” says Kerzner. “Especially if you are doing grassroots media that speaks to people.”Ed the Sock was Canadian TV’s original television disrupter. Advertisement Login/Register With: Ed the Sock is giving a tour of his Thornhill, Ont., bungalow.The cosy home is filled with an immense toy collection, and also houses a dusty cabinet that is essentially the Ed The Sock museum. It features the puppet in all its incarnations since it first appeared in the 1990s.“That’s the first one, when I didn’t have eyebrows,” says Ed’s alter ego and creator Steven Kerzner, before pointing to another version of the perennially scowling puppet with the classic green felt brows. Twitter LEAVE A REPLY Cancel replyLog in to leave a comment Facebook Advertisement Advertisementlast_img read more

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At this years Scotiabank CONTACT Photography Festival three shows will change how

first_imgAdvertisement Moyra Davey, Of Jane (detail), 2014, 38 C-prints, tape, postage, ink; in seven groupings. Collection Museum Moderner Kunst Stiftung Ludwig Wien [mumok], Vienna The Scotiabank CONTACT Photography Festival has always been about more than pretty pictures.The largest festival of its kind in the world, CONTACT puts on display ground-breaking and thought-provoking work by more than 1,500 Canadian and international artists, showing in more than 200 venues throughout the Greater Toronto Area. Featuring both established and emerging artists, the festival allows viewers to see the world through many different lenses.The 23rd edition will be on display in major art institutions, in galleries, on billboards and even across the sides of buildings, bringing inspiring, relevant and memorable work to the city between May 1 and May 31. LEAVE A REPLY Cancel replyLog in to leave a comment Here are three headlining exhibitions everyone must see at this year’s Scotiabank CONTACT Photography Festival.Scotiabank Photography Award: Moyra DaveyPutting together the career-spanning exhibition and Steidl book publication that come with winning the 2018 Scotiabank Photography Award has helped artist Moyra Davey see her own work in a new light. “You notice things you wouldn’t have noticed, when you do a show like this, when you juxtapose works that were made at different times of your career,” says Davey. Facebookcenter_img Advertisement Login/Register With: Advertisement Twitterlast_img read more

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ExFN police chief gets jail for kickback scheme

first_imgAPTN National NewsA former First Nations police chief has been sent to jail for his involvement in a ‘kickback’ scheme.Glen Bannon, 57, was the chief of the Anishinabek Police Service for 10 years since it was founded in 1994.He was responsible for purchasing and selling police vehicles.Bannon would then direct police business to a car dealership in Sault Ste. Marie, Ont.In return he received vehicles and electronics.Bannon will now spend one year in jail for breach of trust and accepting secret commissions.last_img

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Pickton inquiry begins hearing testimony from police

first_imgAPTN National NewsAt the Pickton inquiry Monday the question was finally asked directly to the police: Why did it take so long to catch serial killer Robert Pickton?Vancouver’s deputy police chief began his testimony by reviewing his 450 page report that analyzed where police went wrong.APTN National News reporter Wayne Roberts was at the inquiry.last_img

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Police seek to question third man about Cree womans mysterious Toronto condo

first_imgToronto police investigators are looking to interview Sergio Abreu about the circumstances surrounding the mysterious death of Bell Laboucan-McLean. Photo:clubcatcher.comBy Jorge Barrera APTN National NewsToronto police investigators are now seeking to question a third man in relation to the mysterious circumstances surrounding the death of a Cree woman who fell 31 storeys from the balcony of a Toronto condo this past July, APTN National News has learned.Police are still trying to determine what led to Bella Laboucan-McLean’s death in the early morning hours of July 20, 2013.Investigators have already questioned two men and two women who were at a party in condo unit 3109 at the time when Laboucan-McLean, 25, fell to her death.Nobody in the condo called police at the time of the incident. A man from the condo called in a missing persons report on Laboucan-McLean 12 hours after she fell from the a balcony on the 31st floor of 21 Iceboat Terr.Investigators are still trying to determine whether the death was suicide, accidental or murder. The case has not been transferred to homicide detectives and is in the hands of Toronto police’s 14 Division’s criminal investigation bureau.The division’s investigators have obtained a production order from an Ontario judge to access the cell phone records of at least four of the individuals in the condo at the time of Laboucan-McLean’s death.They hope to discover whether there were any spikes in data transfers or phone calls to and from cells at the time of the fateful fall.It could take up to three months for police to obtain the records from cell phone service providers, according to a police source close to the investigation.Investigators, however, have managed to confirm the identity of a third man who was also in the condo at the time of the incident, according to the police source.Investigators knew early on that a man named “Sergio” was also at the party, but failed to glean any information beyond his first name from their interviews.He has since been identified as Sergio Abreu who appears to be friends with Andrew James, aka Ox, the man who was renting unit 3109.The two were pictured together at the Tryst nightclub in December 2012, according to Facebook photos.Andrew James (left) and Sergio Abreu (right) in a photo posted in December 2012 on Abreu’s Facebook page.The two men were also photographed together at Tryst on July 19, 2013, the same night Laboucan-McLean went to the club with friend Antony Rankine. The four later went to James’ condo with two women from Montreal.Andrew James (foreground) and Sergio Abreu (background) at club Tryst on July 19, 2013. Photo: clubcatcher.comAbreu is currently unemployed and no longer has an active cell phone number, according to a relative contacted by APTN National News.Abreu did not respond to requests for comment from APTN National News.Investigators made contact with Abreu last week.Police were alerted to Laboucan-McLean’s death at about 5 a.m. when a neighbour called police after hearing a strange sound and seeing a body on the ground.Investigators went into the condo building and began knocking on doors from the section of the building from where they believed she fell.They came up empty. Investigators believe the party was still going at the time of Laboucan-McLean’s death.“They were partying when the police was called at 5 a.m.,” said the police source.Rankine, who is also a hip hop artist named Scandalis, told APTN National News that no one knew Laboucan-McLean had disappeared until they woke later in the day.“The truth has been told already,” said Rankine. “None of us knew she fell until we woke up next day. The police have all this information.”Police are still investigation mysterious circumstances around the death of Bella Laboucan-McLean, 25. Photo courtesy of LeeLee PhotographyLaboucan-McLean grew up in her mother’s community of Sturgeon Lake Cree Nation in Alberta. Her father Billy Joe Laboucan is the Chief of the Lubicon Lake Band.She had recently graduated from Humber College’s Fashion Arts program and was planning to launch a career in the industry. She also attended the University of Alberta.Her death stunned her friends and family who believe there is no way she would have taken her own life.A vigil held near the spot where she died was attended by actor Tantoo Cardinal and author Naomi Klein.jbarrera@aptn.ca@JorgeBarreralast_img read more

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Michele Pineault talks about MMIW meeting with federal ministers

first_imgAPTN National NewsIt was a long painful day. Family members had four minutes at a meeting with provincial, territorial and federal politicians to explain what losing a loved one has done to their lives.Michele Pineault was one of them.Her daughter’s DNA was found on Robert Pickton’s farm.Michele spoke to APTN’s Cheryl McKenzie about the meeting and how it made her feel.last_img

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Alberta joins partnership to support entrepreneurs at former flood ridden Siksika Nation

first_img(L to R: Jack Royal, Chairman of IBC, Aboriginal Affairs Minister Kathleen Ganley and Chief Vincent Yellow Old Woman of Siksika Nation at the announcement) Brandi Morin APTN National NewsEDMONTON — The province of Alberta has announced a partnership to help the flooded community members of the Siksika Nation in southern part of the province.It has been two years since flood waters forced almost 1,000 people from their homes and the community is still dealing with the aftermath working to rebuild homes, roads and other damaged infrastructure.On Friday a new partnership involving Siksika, the Alberta Government and the Indian Business Corporation was announced  that officials say will help boost economic opportunities for the nation.Siksika has invested $2 million backed by an additional $700,000 from the province to help entrepreneurs build and grow their small businesses.The announcement comes on the heels of the apology for residential schools by the Alberta Government.“We are living in times where we need to work together,” said Siksika Chief Vincent Yellow Old Woman who is a residential school survivor and attended the apology.“I am proud of the partnership today. This is for our members who have a willingness, capacity and a means to move forward. To encourage and to help them see that there’s a light at the end of the tunnel.”Aboriginal Relations Minister Kathleen Ganley said small business owners play a central part in Alberta’s economy, entrepreneurs are important to the overall prosperity of Alberta and, especially to the prosperity of Indigenous people.“There are more businesses owned by Indigenous people today than ever before. For many Indigenous people, starting a business can mean economic prosperity and improve quality of life. Nowhere is this more evident than on First Nation reserves,” said Ganley.However, many First Nations living on reserve face significant challenges when it comes to accessing capital for business start-ups.Alberta based Indian Business Corporation (IBC) will administer the project. The IBC is a First Nations owned company founded in 1987 that has since provided close to $70 million in loans and created and funded over 2,500 businesses or expansion ventures.IBC chairman of the board Jack Royal said they understand the needs of First Nations. The IBC helps to fill the gap between a lack of understanding with lending institutes and First Nations.“I think the main stream banks, chartered banks, don’t fully understand,” said Royal.“A part of that has to do with crown title to First Nations land underlying First Nations ownership of the land. The Indian Act and all of the restrictions with the federal minister having to provide various guarantees. As a result they see First Nations as a higher risk and then they don’t fit into mainstream lending opportunities. Through IBC we’re more flexible and we understand how the Indian Act works and how Indian title works and what’s required for security to guarantee loans.”This partnership is unique in Alberta in that it’s never happened with a First Nation and a First Nation owned company collaborating with the province to deliver programs/services or economic funding directly to First Nations people.Royal said the initiative will help community members to build independence and will have an impact on social conditions.“We’re investing in the community, we’re generating revenue. It starts from the ground up. If the people don’t own something, they don’t have the passion for it. I think now because they’ll own these initiatives they’re now able to build that passion,” said Royal.The two primary business trends in Alberta are the energy sector and agriculture which Royal believes many members will create undertakings in. There is currently even more economic opportunities available in Siksika through the flood restoration efforts and members are already lining up to apply for funding.Royal hopes more monies will be made available for other Alberta First Nations to take advantage of entrepreneurial ventures in the near future.bmorin@aptn.calast_img read more

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La route jusquà Ottawa sannonce difficile pour lexprésidente de lAFAC

first_imgNouvelles nationales de l’APTNMichèle Audette aura eu l’occasion de se présenter deux fois sous la bannière libérale au cours des présentes élections. Elle le fera dans la circonscription de Terrebonne, en banlieue de Montréal. Ses rivaux sont le bloquiste Michel Boudrias, le conservateur Michel Surprenant et la députée NPD sortante Charmaine Borg, qui n’avait que 20 ans lorsque la vague orange néo-démocrate a déferlé sur le Québec en 2011.Mme Audette est née dans la communauté innue de Mani-Utenam, près de Sept-Îles, au Québec. Elle n’était cependant pas considérée comme une Indienne de plein droit, sa mère s’étant mariée avec un non autochtone. Ce n’est qu’en 2010 qu’elle a obtenu le statut d’Indienne. Selon une biographie (en anglais), c’est cette injustice qui l’a poussée vers l’activisme. Âgée d’à peine 16 ans, Mme Audette s’est impliquée comme bénévole au Centre d’amitié autochtone de Montréal pour défendre la cause des femmes des Premières Nations du Canada. Michèle Audette n’est certainement pas une étrangère pour le public du réseau APTN. Les auditoires d’APTN National News et de Nation to Nation ont pu se familiariser avec elle alors qu’elle était présidente à la fois de l’Association des femmes autochtones du Québec et de l’Association des femmes autochtones du Canada (AFAC).  Mme Audette est bien connue pour sa défense de longue date de la cause des femmes autochtones assassinées et disparues. Dans le cadre du programme Sœurs par l’esprit–et son successeur, De la preuve à l’action, l’AFAC a commencé à dénombrer le nombre de cas de femmes disparues et assassinées au Canada. Mme Audette s’est démenée auprès de la GRC pour amener cette dernière à reconnaître les chiffres compilés et auprès du gouvernement conservateur pour faire financer leurs efforts. Cette lutte est racontée en détail dans ce long article de Ken Jackson, d’APTN National News. C’est le refus de Stephen Harper de tenir une enquête nationale sur les femmes assassinées et disparues qui a convaincu Mme Audette de se lancer sur la scène politique fédérale. « Je me plaignais », a‑t-elle confié au Globe and Mail il y a plus d’un an. « Alors, je me suis dit, pourquoi ne pas me faire entendre à l’intérieur du système? »Sa première tentative fut dans la circonscription de Manicouagan, où se trouve sa communauté natale. Toutefois, à l’assemblée de mise en candidature en mars, elle a perdu lors d’un vote très serré remporté par Mario Tremblay. Cela aurait pu donner lieu à une course captivante puisque le candidat néo-démocrate sortant là-bas est Jonathan‑Genest‑Jourdain, également innu. Après avoir perdu de justesse, elle avait à l’époque dit à APTN que la météo défavorable et les bulletins de vote postaux perdus ou retardés avaient joué en sa défaveur.En mai, elle a laissé entendre au Soleil qu’elle envisageait un retour en politique et qu’elle avait reçu l’offre de briguer les suffrages ailleurs au Québec. Par conséquent, ce ne fut pas une grande surprise quand le Parti libéral a annoncé le mois dernier la candidature de Michèle Audette à Terrebonne. Bien qu’il s’agisse d’une nouvelle circonscription, Terrebonne est constitué d’autres territoires qui, jusqu’à la vague orange néo-démocrate de 2011, élisaient régulièrement des députés bloquistes. Michèle Audette correspond à la définition d’une candidate parachutée, et bien qu’elle souhaite représenter les citoyens de la banlieue de Montréal, elle a avoué à Ici Radio-Canada que Manicouagan reste dans son cœur. Elle devra surmonter le fait qu’elle vient de l’extérieur et tirer parti de la grande jeunesse de Mme Borg si elle veut avoir une chance de livrer personnellement son message sur les femmes assassinées et disparues à Ottawa.last_img read more

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Markets Right Now Tech slump leaves US stock indexes mixed

first_imgThe latest on developments in financial markets (All times local):4 p.m.It was a mixed day on Wall Street as investors pondered which companies would be winners and losers if a Republican-sponsored tax overhaul goes through.Indexes were mostly higher in early in the day Monday but wound up with an uneven close after drops in technology and health care stocks cancelled out gains elsewhere.Phone companies, which pay high tax rates, did better than the rest of the market. AT&T rose 2.1 per cent.The Standard & Poor’s 500 fell 2 points, or 0.1 per cent, to 2,639.The Dow Jones industrials rose 58 points, or 0.2 per cent, to 24,290, largely due to a gain in Boeing.The Nasdaq dropped 72 points, or 1.1 per cent, to 6,775.The yield on the 10-year Treasury held steady at 2.37 per cent.___11:45 a.m.Stocks are rising in midday trading on Wall Street after the Senate passed a tax overhaul bill.Companies that stand to benefit the most from lower corporate taxes rose the most Monday. Small-company stocks and companies that do much of their business in the U.S. rose more than the rest of the market.Lower-taxed companies like technology stocks didn’t do as well.Banks and retailers rose. Bank of America jumped 3.8 per cent and Home Depot gained 2.8 per cent.The Standard & Poor’s 500 index rose 12 points, or 0.5 per cent, to 2,655.The Dow Jones industrial average rose 222 points, or 0.9 per cent, to 24,453. The Nasdaq composite fell 26 points, or 0.4 per cent, to 6,821.Bond prices fell. The yield on the 10-year Treasury note climbed to 2.39 per cent.___9:35 a.m.Stocks are opening solidly higher on Wall Street following more deal news and progress on the Republican tax overhaul plan over the weekend.Banks rose more than the rest of the market in early trading Monday. Bank of America jumped 3.4 per cent.Consumer-focused and industrial companies were also putting up big gains. Cable TV and entertainment company Comcast rose 3.4 per cent and Boeing rose 2.2 per cent.Aetna rose 1.8 per cent after the health insurer agreed to be acquired by drug store operator CVS. CVS fell 3.9 per cent.The Standard & Poor’s 500 index rose 19 points, or 0.7 per cent, to 2,661.The Dow Jones industrial average rose 224 points, or 0.9 per cent, to 24,453. The Nasdaq composite climbed 43 points, or 0.7 per cent, to 6,892.last_img read more

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Alberta oil and gas drilling rights auction results rise to 504 million

first_imgCALGARY – Sales of oil and gas drilling rights in Alberta delivered almost four times as much money for the provincial treasury in 2017 compared with 2016 but the total remained well short of the record.Alberta Energy reports receiving $18 million in Wednesday’s auction, the last of the year. That brings the total for 2017 to $504 million, 3.7 times as much as the $137 million in 2016. The record was $3.5 billion in 2011.The sales give oil and gas companies the right to drill exploration wells on land where the mineral rights are owned by the province. They are considered a key indicator of future drilling activity.Crown land sales were also up in British Columbia and Saskatchewan this year.Saskatchewan earned about $63 million in 2017, up from $53 million the year before but down from the record of $1.1 billion in 2008.B.C. earned $173 million, up from $15 million in 2016 but nowhere near the record $2.7 billion in 2008.last_img read more

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Lawsuit launched against obituary website alleges copyright infringement

first_imgST. JOHN’S, N.L. – A lawyer in Newfoundland and Labrador is bringing a class-action suit against a website that collects obituaries and reposts them.The statement of claim, which has not been proven in court, alleges that the site managed by Afterlife Network Inc. contains hundreds of thousands of obituaries and photographs copied without permission from the websites of Canadian funeral homes and newspapers.The Jan. 11 document says the reproductions infringe copyright, and that Afterlife hasn’t sought permission from the copyright holders.Lawyer Erin Best is attempting to certify the lawsuit before the Federal Court of Canada.The action says the website generates revenues by displaying the advertising of third party businesses and by permitting users to “light virtual candles and send flowers.”A spokesperson for Afterlife was not immediately available for comment, but the company has previously told CBC that it will edit or delete information from the site on request.Afterlife’s website says that it has become one of North America’s largest databases for obituaries.It also says the firm seeks to inform the public of obituaries that are already on the internet by categorizing them by city.The class action says it is seeking the “maximum relief for each obituary and photograph placed on the domain without permission.”It also asks that the obituaries be taken off the website.It says the obituaries are created “at a time when families and loved ones are at their most vulnerable.“Appropriating obituaries and accompanying photographs for private commercial gain is reprehensible, and requires sanction by this Court.”last_img read more

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Ontario Teachers takes 400M stake in Assassins Creed producer Ubisoft

first_imgTORONTO – The Ontario Teachers’ Pension Plan is spending about $400 million to take a 3.4 per cent stake in French video game giant Ubisoft as part of a complex deal that will allow French conglomerate Vivendi to sell all of its Ubisoft shares.Vivendi, which was said to be considering a takeover when it accumulated its Ubisoft stake over the past few years, has agreed to sell its 30.5 million shares and not buy any more for at least five years.Ontario Teachers’ has agreed to acquire 3.8 million shares in the company, which produces games including Assassin’s Creed and Tom Clancy’s Rainbow Six, while Chinese internet giant Tencent is to buy 5.6 million shares.The rest are to be bought by Ubisoft and cancelled, or sold to existing shareholders and, through an offering, to institutional investors.Ubisoft says it has a strategic partnership with Tencent that will “significantly accelerate” the reach of Ubisoft franchises in China in the coming years.last_img read more

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CIBC says US auto tariffs could cut GDP by a per cent

first_imgTORONTO – CIBC Capital Markets says U.S. tariffs on auto imports could shave a per cent of Canada’s economy and send Ontario into a mild recession.A research report by the bank says that a 25 per cent U.S. tariff on all foreign imports could cut Canadian auto production by more than 400,000 units a year, while tariffs on only Canadian imports would lead U.S. buyers to find other imports and cut production in Canada by almost 900,000 vehicles.Adding in a potential 10 per cent U.S. tariff on parts, and the fewer foreign inputs that would be required, CIBC estimates the widespread tariffs would result in a 0.5 per cent drag on Canada’s GDP, while tariffs that single out Canada would cut the GDP by a full per cent.CIBC, however, says the most likely scenario is widespread tariffs with a temporary exemption for Canadian producers because of pressure from major U.S. auto producers with cross-border operations.But CIBC Capital Markets chief economist Avery Shenfeld says even a temporary exemption would be a “sword of Damocles” that would pressure auto makers to shift more production to the U.S., pressure allies into a more U.S.-tilted trade deal, and demonstrate a toughness on trade to his voting base.He says the impact of tariffs and reduced auto production on the Canadian economy would be tempered by a resulting much lower loonie, and a lower path for interest rates.last_img read more

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BP deep water well off Nova Scotia lacks commercial quantities of oilpartner

first_imgHALIFAX — A third well exploration effort off Nova Scotia has failed to find commercially viable levels of oil in the deep waters of the Scotian Shelf.Hess Corp., the drilling partners on the BP-operated Scotian Basin Exploration Drilling Project, issued a news release Tuesday saying it will write off its share of the well cost, and BP will abandon the Aspy well.It is BP’s only well currently being drilled in the deep waters of the Scotian Shelf, an area about 330 kilometres from Halifax where the company holds multiple licences in waters over two kilometres deep.Environmental, fishing and Aboriginal groups have repeatedly criticized the various drilling programs as lacking sufficient response systems for potential blowouts, and their criticisms of the BP project heightened in June after a spill of 136 cubic metres of synthetic drilling mud from BP Canada’s West Aquarius drilling unit.Last year, Shell announced it would seal the second of two exploration wells off Nova Scotia after they also didn’t find commercial quantities of oil.Promoters had hoped deep water plays like the efforts by BP and Shell would help rekindle the industry off Nova Scotia, as the Sable Offshore Energy Project winds down in the shallower basins.  The Canadian Presslast_img read more

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Wall Street whiplash Stocks volatility looks here to stay

first_imgNEW YORK — The stock market hasn’t been this dizzying in years, and investors may need to get used to it.The S&P 500 slid 4.6 per cent this past week as worries piled up about the economy’s strength, global trade and interest rates. It was a whiplash-inducing reversal from the prior week, when the S&P 500 jumped 4.8 per cent. The last time investors experienced such a big swing in stock prices between two weeks was in late 2011.It’s the latest gyration for a market that’s become increasingly twitchy, as investors try to make sense of big questions that don’t yet have clear answers for. Will tariffs derail the global economy and sink profits for businesses around the world? Will the Federal Reserve raise U.S. interest rates too quickly and choke off growth?Many Wall Street strategists see more volatility on the horizon.“What we have experienced in 2018 and most acutely since October is, unfortunately, more normal than not,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.With economic growth expected to slow and interest rates expected to rise, many along Wall Street are forecasting 2019 will be a rocky year for stocks. “The end of easy” is the title that Wells Fargo Investment Institute gave for its 2019 investment outlook.Easy, for investors, is what the stock market had been for most of its run that began in the spring of 2009. For most of the past decade, the Federal Reserve kept interest rates extremely low to promote economic growth following the 2008 financial crisis and the Great Recession. That helped keep borrowing costs down and lift all kinds of markets.But now the Fed is gradually raising interest rates. It has increased short-term rates eight times since 2015, and economists expect another hike to come later this month. Those higher rates — and expectations for more — have been one catalyst for recent selling.Worries about trade tensions between the United States and China have also driven big swings for stocks, in both directions. At the start of this past week, stocks jumped on hopes that the two countries had brokered a truce. But those gains evaporated as investors grew confused about what the two sides had actually agreed upon.“We started up sharply because we thought we had a deal with China and we ended at the lows for the day,” said Lindsey Bell, investment strategist at CFRA Research. “That tells me people are using days where we see some green to sell out of positions into the strength, and that’s pulling the market lower. The sentiment in the market is extremely negative.”The current skid for stocks is the third big swoon for the markets this year. The first was a dramatic downturn in late January and early February, when the S&P 500 lost 10 per cent in just nine days. That was followed by a less severe stumble in March.But the middle of this year was placid, which raised hopes for a return to a smoother ride. Between late June and early October, the market didn’t rise or fall as much as 1 per cent in a single day. That was similar to the scenario in 2017, when the market drifted gradually higher and finished up 19.4 per cent.Soaring corporate profits, fueled by sweeping corporate tax cuts, powered the market’s recovery this spring and summer. S&P 500 companies delivered second-quarter earnings growth of 25 per cent, well ahead of forecasts. That helped send the S&P 500 to a new all-time high in September, erasing the losses from its correction in February.But now doubts are emerging that a similar surge in earnings growth will rally markets out of their latest skid. S&P 500 companies delivered yet another blockbuster quarter of earnings growth for the third quarter, but the reports have not lifted stocks.All the gyrations are yet another reminder to investors that the downside to owning stocks, which have had the best results over the long term, is that they’re risky and prone to sudden drops in price.“We accept volatility as the cost of doing business,” Nixon said, “and we anticipate over time that we will be compensated for taking the extra risk.”___AP Business Writers Marley Jay in New York and Alex Veiga in Los Angeles contributed to this report.Stan Choe, The Associated Presslast_img read more

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PwC says Canadian initial public offering market in 2018 totalled 22 billion

first_imgTORONTO — PwC says the initial public offering market in Canada totalled $2.2 billion last year, less than half of what was seen in 2017.The firm says in all of 2018 there were 54 new equity issues on four exchanges that generated a total of $2.2 billion.That compared with the $5.1 billion raised from 37 IPOs in all of 2017.The largest IPO of 2018 was the $462-million Ceridian HCM Holding issue of the second quarter.It was followed by MAV Beauty Brands with $241 million and AltaGas at $239 million.Dean Braunsteiner, national IPO leader at PwC Canada, says while cannabis firms grabbed the headlines, a surge of activity on the Canadian Securities Exchange and a return of junior miners to the markets were also notable developments of 2018. The Canadian Presslast_img