Other Brieflies this week:| MON | TUE | WED | THU | FRI | Canada’s construction industry will need an additional 250,000 workers over the next eight years, according to a report. The Construction Sector Council’s report, Construction Looking Forward, finds that despite the hiring 42,000 new workers last year, another 162,000 will be required […]
Henri-Paul Rousseau, the president and chief executive officer of the Caisse de dépôt et placement du Québec, is stepping down to take a job in the private sector. He will join both Power Corporation of Canada and Power Financial in January. At the next annual meetings in May 2009, Rousseau will be nominated for election […]
Canadians could have adequate savings during retirement if a government-backed supplementary pension plan were created, according to a study by the C.D. Howe Institute. In the study, The Canada Supplementary Pension Plan (CSPP): Towards an Adequate, Affordable Pension for All Canadians, author Keith Ambachtsheer argues that the new pension model addresses two major shortcomings in […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | The Canada Pension Plan Investment Board (CPPIB) has opened up an office in London to give it greater access to investment opportunities in the United Kingdom and Europe. “Having a team of investment professionals on the ground will enable us to […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | Employers in the United States are offering more flexibility to their workers than they were 10 years ago but at the same time, fewer are offering defined benefit (DB) plans, finds a study. The Families and Work Institute’s 2008 National Study […]
Other Brieflies this week:| MON | TUE | WED | THU | FRI | UBS has revised its 12-month target on the S&P/TSX composite index to 16,400, up from 15,000—a level it closed above last week. The bank says companies in the energy sector are expected to have improved earnings as a result of strong […]
The deal to take BCE private by a consortium led by the Ontario Teachers’ Pension Plan may not close before the end of the quarter after the Quebec Court of Appeal ruled on Wednesday that the agreement was not fair to bondholders. The news sent BCE shares down as much as 14% on Thursday. The […]
Other Brieflies this week:| TUE | WED | THU | FRI | Target-date funds (TDFs) are designed to automatically shift investors’ portfolios to less risky assets as they age but some funds in the United States have higher risk levels than others, according to an analysis by Watson Wyatt. Using Morningstar Direct research, the company […]
Other Brieflies this week:| TUE | WED | THU | FRI | The Ontario Superior Court of Justice has delayed the $32-billion of third-party asset-backed commercial paper (ABCP) restructuring plan. Justice Colin Campbell adjourned the matter on Friday for further submissions as to whether the plan can be approved and, in particular, whether there could […]
If a company’s pension plan has a surplus and that company then sells a division, should a share of the surplus be transferred to the successor pension plan? On Tuesday, the Ontario Court of Appeal appeared to have answered that unresolved question in the field of pension law and said: “no.” The Court of Appeal’s […]