On Friday, October 13, 2017, amfAR, The Foundation for AIDS Research, will pay tribute to Julia Roberts at its eighth annual amfAR Gala Los Angeles.Roberts, the Academy Award-winning actress, will be presented with amfAR’s Award of Courage by Tom Hanks in recognition of her profound commitment to the fight against AIDS, as well as countless other humanitarian causes. James Corden will host the event.The black-tie benefit, presented by Harry Winston and M•A•C Viva Glam, will be held at Ron Burkle’s Historic Green Acres Estate to support amfAR’s life-saving AIDS research programs.Roberts has been a long-time supporter in the fight against HIV/AIDS as well as numerous other charitable causes. In 2016 as a supporter of the (PRODUCT) RED campaign, which teams up with the world’s most iconic companies and celebrities to produce branded products with sales benefitting The Global Fund to Fight AIDS in Africa, Roberts participated in the kick-off of the World AIDS Day holiday shopping extravaganza. In 2014, Roberts received the Humanitarian Award from GLSEN, the Gay, Lesbian & Straight Education Network, at its annual GLSEN Respect Awards gala. In addition, Roberts is also a passionate fighter for many causes, including healthcare, education, international development, disaster relief, family support, and more.Roberts joins previous amfAR honorees including Charlize Theron, Ryan Murphy, Scarlett Johansson, Harvey Weinstein, Jeffrey Katzenberg, Goldie Hawn, Aileen Getty, Jennifer Lopez, Kevin Huvane, Jean-Paul Gaultier, James Franco, Francisco Costa, Mario Testino, Robert Duffy/Marc Jacobs International, Miley Cyrus, Andy Cohen, Cher, and more.amfAR Chairman of the Board Kenneth Cole, Ron Burkle, and Jason Weinberg will serve as the Event Chairs. Kevin Huvane, Bryan Lourd, Richard Lovett, and Ida Ziniti are Honorary Chairs. Co-Chairs of the event include Mert Alas & Marcus Piggott, Matt Bomer and Simon Halls, Patricia Bonaldi, Stephen Chobsky, Cindy Crawford and Rande Gerber, John Demsey, Tom Ford, amfAR Global Fundraising Chairman Milutin Gatsby, Jean Paul Gaultier, James Goldstein, Nayla Hayek, Stephen Huvane, Michael Kors, Matthew Modine, Ryan Murphy, Gary Newman, Gwyneth Paltrow, Michael Patrick, Sean Penn, Zac Posen, Alan Poul and Ari Karpel, Billy and Stacy Ray, Vincent Roberti, Rich Ross and Adam Sanderson, Jeremy Scott, Gary Tigges, M.D., Diana Walden, Steve Warren, Pauletta and Denzel Washington, Rodney Williams, and Rita Wilson.Harry Winston and M•A•C Viva Glam are the Presenting Sponsors. Cadillac, Moët Hennessy, and PatBO are the event’s Signature Sponsors. Delta Air Lines is the Official Airline of amfAR.To date, the amfAR Gala Los Angeles has raised more than $11 million for amfAR’s life-saving research programs.For more information, click here.
Mark Wahlberg Dwayne Johnson top Forbes list of highest paid actorsMark Wahlberg Dwayne Johnson top Forbes list of highest paid actors
That’s way behind the top-paid stars: Transformers: The Last Knight’s Mark Wahlberg leads the way with $68 million, followed by Dwayne “The Rock” Johnson at $65 million and Vin Diesel at $54.5 million. Who needs Oscars? Mark Wahlberg evidently earned a substantial paycheque from Transformers: The Last Knight in order to top the list of highest paid stars. (PARAMOUNT PICTURES – BAY FILMS) Advertisement Don’t feel sorry for them or anything, but most of the actors and actresses confirmed for TIFF 2017 so far are lagging behind their counterparts when it comes to earnings.A list of the highest paid male and female stars released by Forbes on Tuesday revealed Emma Stone was the highest ranked of TIFF attendees at No. 15, with gross earnings of $26 million (all figures U.S.) between June 1, 2016 and June 1, 2017.Another TIFF guest, Jennifer Lawrence, was at No. 17 with $24 million and Matt Damon clocked in at No. 19 with $21 million. Forbes also made note of the continuing pay gap between males and females in Hollywood, with the top 10 actors earning $488.5 million, nearly three times the $172.5-million total of the top 10 women.A couple of Canadian celebs, the Ryans Reynolds and Gosling, were newcomers to the list this year with Gosling making $29 million on the strength of La La Land, and Reynolds making a likely Deadpool-fuelled $21.5 million.Meanwhile, three Bollywood superstars, Shah Rukh Khan, Salman Khan and Akshay Kumar, rounded out the Top 10.The full list of the top 20 is below:1. Mark Wahlberg, $68 million2. Dwayne “The Rock” Johnson, $65 million3. Vin Diesel, $54.5 million4. Adam Sandler, $50.5 million5. Jackie Chan, $49 million6. Robert Downey, Jr., $48 million7. Tom Cruise, $43 million8. Shah Rukh Khan, $38 million9. Salman Khan, $37 million10. Akshay Kumar, $35.5 million11. Chris Hemsworth, $31.5 million12. Tom Hanks, $31 million13. Samuel L. Jackson, $30.5 million14. Ryan Gosling, $29 million15. Emma Stone, $26 million16. Jennifer Aniston, $25.5 million17. Jennifer Lawrence, $24 million18. Ryan Reynolds, $21.5 million19. Matt Damon, $21 million20. Jeremy Renner, $19 millionBy Debra Yeo With files from Forbes.com Advertisement Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Login/Register With: Facebook Twitter
“It can’t be all that they do,” she Tova says. “It can’t be all that we focus on.”Tova isn’t sure what the next steps are for the actors’ union and other players like TIFF, but all are invited to the table.“We’re inviting our industry partners to a discussion in many ways over the next week or two, and we’ll start figuring out what our objectives are industry-wide, identifying the gaps in the policies,” she says. “We need to educate, and we need to create regulations and protections.”READ MORE The small photo was a symbol of the man’s sizeable stature that now triggers an entirely new reaction as film institutions like TIFF grapple with the disgraced producer’s legacy. The industry faces tough questions. How deeply ingrained is the “casting couch” culture of sexual advances by powerful men? As actress Molly Ringwald put it in a Tuesday New Yorker essay, how many “Other Harveys” are there?Theresa Tova, president of ACTRA’s Toronto chapter, says removing the photo is just the beginning of the conversation. Login/Register With: Advertisement Up until this week, Harvey Weinstein’s double-chinned mug was still grinning amid a collage of celebrity faces on the walls at Toronto’s TIFF Bell Lightbox.He was one of many beaming big shots in the second floor hall-of-fame corridor documenting decades of industry power at the Toronto International Film Festival. The 1993 photo (also featuring Blade Runner star Edward James Olmos) was plastered on a stretch of wall boasting a who’s who of the ’90s, from Brad Pitt to Kirstie Alley.It’s a decade that marked major growth for TIFF. It was also a decade when many of Weinstein’s alleged assaults, revealed in explosive reports this month, occurred — some at Toronto locations during the festival — and when his former company Miramax Films wielded tremendous influence in Hollywood. Advertisement Facebook Twitter LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement
Canadian Actress Tricia Helfer Star of Battlestar Galactica Files For Divorce FromCanadian Actress Tricia Helfer Star of Battlestar Galactica Files For Divorce From
Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Advertisement Actress Tricia Helfer has filed for divorce to end her 13-year marriage to attorney Jonathan Marshall.According to court documents obtained by The Blast, the former “Battlestar Galactica” star is citing “irreconcilable differences” as the reason for divorce, listing the date of separation as May 12, 2017.Helfer, a native of Alberta, married Marshall in 2003; they have no children together. Login/Register With: Advertisement Facebook Twitter
CTV Dishes Out a Sixth Season of Hit Culinary Series MASTERCHEF CANADACTV Dishes Out a Sixth Season of Hit Culinary Series MASTERCHEF CANADA
Login/Register With: TORONTO, Aug. 8 – Following MASTERCHEF CANADA‘s youngest-ever winner, Beccy Stables, being crowned earlier this summer, CTV announced today Season 6 of its hit culinary competition series MASTERCHEFCANADA for the 2018/2019 broadcast season. Casting for passionate home cooks looking to follow their food dreams is now open at CTV.ca/MasterChefCanada, with production set to begin this fall in Toronto on a new 12-episode season from Proper Television.Canadians maintain a strong appetite for MASTERCHEF CANADA. A Top 15 program on Canadian television with all key demos this past spring, Season 5 of MASTERCHEF CANADA averaged 1.2 million total viewers weekly.“MASTERCHEF CANADA continues to serve up a savoury and distinctly Canadian viewing experience for fans across the country, making the series one of the most popular on television,” said Mike Cosentino, President, Content and Programming, Bell Media. “We are proud of our continued collaboration with exceptionally talented production partners Proper Television and Endemol Shine Group, and look forward to the return of this beloved CTV franchise to the schedule with Season 6 set for a Midseason launch on CTV.” Advertisement Casting for Season 6 of MASTERCHEF CANADA is now open at CTV.ca/MasterChefCanada. Passionate and talented Canadian home cooks hungry for an opportunity to capture the life-changing title of Canada’s next MasterChef have until Sunday, Sept. 30, 2018 at 11:59 p.m. ET to apply online. Further to online casting submissions, invitation-only auditions will be held across Canada this summer, so home cooks are encouraged to get their applications in soon. In addition, an in-person Open Casting Call will be held in Toronto on Sunday, Sept. 30 – for more information, visit CTV.ca/MasterChefCanada. LEAVE A REPLY Cancel replyLog in to leave a comment Facebook Advertisement Advertisement Twitter
SONIC THE HEDGEHOG TRAILER RELEASED PUTTING VANCOUVER ISLAND IN THE SPOTLIGHTSONIC THE HEDGEHOG TRAILER RELEASED PUTTING VANCOUVER ISLAND IN THE SPOTLIGHT
Advertisement A scene from the trailer for Sonic The Hedgehog appears to have been shot on Highway 19A near Bowser. (YouTube) Login/Register With: Advertisement Twitter LEAVE A REPLY Cancel replyLog in to leave a comment James Marsden portrays Tom Wachowski, the sheriff of fictional town Green Hills.Glimpses of Vancouver Island can be seen in the trailer, including what appears to be a chase scene filmed on Highway 19A near Bowser.The film shoot shut down a stretch of the highway for a full week in September.Filming also took place in downtown Ladysmith, where buildings were painted and transformed along 1st Avenue.Crews spent the day slapping a fresh coat of paint on buildings along 1st Avenue in Ladysmith ahead of the rodent’s arrival. Sept. 4, 2018. (CTV Vancouver Island)Sonic is a character most likely remembered from the Sega Genesis games of the same name, which came out in 1991.The movie is set for release on Nov. 8 of this year, according to IMDB. Facebook A trailer for the live-action version of Sonic the Hedgehog, a big-budget movie shot on Vancouver Island last year, has hit the internet.The preview features the titular CGI hedgehog, voiced by Ben Schwartz, as he goes on the run from the military and Dr. Ivo Robotnik, played by Jim Carrey. Advertisement
Tsilhqotin continue court struggle against mining firm TasekoTsilhqotin continue court struggle against mining firm Taseko
APTN National NewsThe Tsilhqot’in in British Columbia are back in court trying to stop Taseko Mines from reviving what was supposed to be a dead issue.But, the so-called “New Prosperity” mine is back on the table.This has the Tsilhqot’in warning the company and the provincial government that they are risking a clash.
Mikmaq education scoring high grades in Nova ScotiaMikmaq education scoring high grades in Nova Scotia
APTN National NewsGood news was unveiled Monday at a Mi’kmaq education conference in Nova Scotia.Graduation rates for on reserve high school students are no on par with the province.In some areas elementary literacy rates have surpassed the rest of the province.Educators attribute this to pooling resources and keeping control of education in the communities.
Conservative MP supports national inquiry into missing and murdered Indigenous womenConservative MP supports national inquiry into missing and murdered Indigenous women
APTN National NewsLast week, thousands of Canadians marched in solidarity with the sisters in spirit.At the Whitehorse vigil Yukon Conservative MP Ryan Leef announced his support for a national inquiry into the high numbers of Aboriginal murdered and missing women.He’s the first Conservative to do that.Leef joined APTN National News from Whitehorse.
Sometimes all it takes is a beaver pelt and some moccasinsSometimes all it takes is a beaver pelt and some moccasins
APTN National NewsThis week in Yellowknife, elder Jane Dragon showed off her vast collection of furs and Dene art inspiring one family to start learning about their traditional way of life.APTN’s Iman Kassam has the story.
Indigenous activists say homeless in Montreal unfairly targeted for ticketingIndigenous activists say homeless in Montreal unfairly targeted for ticketing
Tom FennarioAPTN National NewsAbout two dozen protesters took part in an act of civil disobedience Tuesday afternoon in downtown Montreal by sitting on a stretch of sidewalk where Indigenous homeless have been receiving tickets.“The fact is that, where are these people to go?” asked Daybi, a Cree outreach worker who works with Montreal’s disproportionately large Indigenous homeless population.“People want to just brush them away so that they’re out of sight and out of mind, but in reality that’s never gonna happen, this has always been an area where people have congregated.”(Daybi, a Cree outreach worker who works with Montreal’s disproportionately large Indigenous homeless population. Photo: Tom Fennario/APTN)Across the street from the protest sits Cabot Square, a place where the city’s homeless and vulnerable Indigenous population, particularly the Inuit, have been frequenting for decades.Daybi helped organize this action after a rash of tickets were recently issued outside Restaurant Miso on the corner of Sainte Catherine and Atwater.“We had complaints from more than one merchant, and also from some citizens,” said Community Officer Adalbert Pimentel of the Montreal Police. “Different complaints, consumption of alcohol, obstructing the sidewalk, also littering on a public domain.”For 10 years Pimentel has patrolled this area.He said in his experience, police officers use their discretion when handing out tickets, and that usually it’s the last resort.According to a 2015 survey, 10 per cent of Montreal’s homeless population is Indigenous, even though they make up less than one per cent of the city’s total population.“There is a lot of warnings, most of the time there is a lot of mediation done trying to find solutions but yes, it could end up in a municipal infraction,” said Pimentel.“These cops never stop”(Osyris Jackson holds up one of his latest tickets. Photo: Tom Fennario/APTN)But 24-year-old Osyris Jackson said that hasn’t been his experience.“These cops never stop, I got a ticket one time for sleeping,” Jackson told APTN News at the Open Door shelter, located one block south of Cabot Square.“I just get tickets. At least give me a warning and I will move, that’s not a problem.”Jackson said he’s been living on the streets for about five years.He showed APTN two tickets for drinking in public, each for $149.“Max, in total I owe the government over a $1,000 in tickets,” he said.$20,000 in tickets…David Chapman is the director of the Open Door Shelter.He estimated that about 40 per cent of the people who come here are Inuit.Chapman said the shelters get many unpaid tickets because it’s used as a mailing address by the people who use it.He brought out a box crammed with about 100 tickets which he said is from the last two and a half months.“Having an open can of alcohol, smoking too close to a bus shelter, jaywalking, sleeping on a bench in the metro, relatively minor and arguably unnecessary infractions,” said Chapman, who added that one of his clients has over $20,000 in unpaid fines.“What happens is, knowing that you have thousands of dollars to pay, and you don’t actually have the ability to repay it, it creates a psychological dysfunction that drives you back to the addiction of choice,” said Chapman.Pimentel said that if merchants and citizens repeatedly call 911, it can’t just be ignored.“When we have a complaint, we have an obligation to take action,” he said.Meanwhile, people at the sit-in emphasized that the rapidly gentrifying area needs to accept the people who were here before them.“There’s deeper social issues at hand, there’s more to the money behind the development of this area, maybe at that level, they could be more considerate of actual people,” said Daybi.As for Jackson, before leaving the Open Door he inquired about borrowing some clothes for his upcoming court date.“It’s bad man, how are we supposed to pay all this?” he adds, tickets in firstname.lastname@example.org@tfennario
Mohawk man beats Canada Customs on illegal search caseMohawk man beats Canada Customs on illegal search case
Tom FennarioAPTN NewsA Mohawk man from Akwesasne has beaten charges he was facing from the Canadian Border Services Agency (CBSA) with a never-before-used defence.“It’s harassmen – they have no right to do this to people around here,” said Kanawakeron Jody Swamp.In 2017, Swamp, 53, was pulled over at customs in Cornwall Ont., just across the river from where he lives in Akwesasne.Swamp was in possession of about $300 worth of firecrackers.He was charged with three violations of the Customs Act, along with a single charge for transporting explosives, even though he was coming from the Ontario side of Akwesasne, Kawehno:ke island.“As soon as I saw this case, and read the legislation, I thought this doesn’t make sense and something needs to be done,” said Swamp’s lawyer Keith Gordon.What upset Gordon is that CBSA doesn’t appear to be following its own rules.So the Mohawk Ojibway lawyer set out to prove it.Gordon argued before an Ontario judge that in 2012, the CBSA told a senate committee travellers not suspected of coming from the U.S. “would be release [sic] right away.”This was in reference to Cornwall’s unique position as the only Canadian port of entry that has both local and international traffic.That’s because the Akwesasne Mohawk Territory falls on the borders of Quebec, Ontario and New York State.This means travellers coming from New York must cross through Kawehno:ke (also known as Cornwall island) in Akwesasne, before reaching the Canadian port of entry in Cornwall.Even Akwesasne residents coming from the New York side who live on the island must pass through customs in Cornwall before returning to the island.Mohawks who live on Kawehno:ke must pass through customs whenever they want to go into Cornwall, which they consider their unceded territory and where they need to do shopping and other errands.“Everybody on this island [Kawehno:ke] they must go through there at least twice a day, three times a day. People want to get groceries and stuff like that,” explained Swamp when asked what daily life is like on Akwesasne’s Ontario side.Akwesasne Mohawks make up about 70 per cent of traffic at the Cornwall customs, and during rush hours the wait can add quite a bit of time to the commute.Gordon says they are treated like criminals on their own unceded territory.“I’ve been asking myself, ‘Why isn’t it being challenged? Why is it being continued? Why am I hearing people of this community talk about discrimination, arbitrariness, harassment?’” he asked.Last week, an Ontario judge ruled because Swamp was travelling within Canada, he could not be searched without reasonable suspicion.“A weight was lifted off my shoulders, you know, having them come down on me, for no reason, and having me going through the court system for so long, it was just a big relief,” said Swamp.In an email to APTN News CBSA declined to be interviewed and said they are “reviewing the court decision and will assess next steps.”They have 30 days to appeal the decision.For now, Gordon and Swamp will savour a victory they hope will set a precedent.“The argument is, Canada, follow your own laws,” concluded Gordon.email@example.com@tfennario
Retired TD Bank CEO Ed Clark to head up agency that willRetired TD Bank CEO Ed Clark to head up agency that will
TORONTO – Ontario has called in its top business guru to head the agency that will handle the complicated task of selling and distributing recreational marijuana once pot is legalized this summer.Former TD Bank CEO Ed Clark, who has served as Premier Kathleen Wynne’s business adviser since 2015, was nominated Thursday by Finance Minister Charles Sousa to chair the Liquor Control Board of Ontario’s board of directors.Clark, who also is working on the province’s bid to land the new Amazon headquarters, will oversee the agency as it creates a subsidiary that will run stand-alone stores to sell legal weed.Clark described himself as a “conservative on the cannabis file” and said safety is top of mind for him.“I think we have to be quite careful,” he said. “I think it’s good to get the drug out of the hands of drug dealers. I think having people buy what is a drug, that hasn’t been tested … and buy it from bad guys, is not a good thing. We’re not here to promote marijuana. We’re here to make sure that we cut the drug dealers out of marijuana trade.”The LCBO subsidiary must put in place good quality control measures that provide consumers with a safe product, he said.“We have to make sure that we have a system, as we do with the LCBO, that we’re not selling to people that shouldn’t be buying this,” he said.Clark noted that in his 2015 review of Ontario’s assets he recommended maintaining public ownership of the LCBO and expanding access to wine and beer, two ideas the Liberal government has accepted.“I like the LCBO but it doesn’t mean there isn’t more that it can do,” he said. “I’m a retailer at heart. It will be fun to try to say, OK, how can we serve the consumer better?”The process is likely to be fraught with challenges from municipal pushback to concerns about lack of supply, but Sousa said Clark’s experience makes him the ideal person for the job.“He’s a retailer by his nature,” Sousa said. “But he’s also a policy mind. He’s successful. He has the ability to deal very effectively with leaders around the world and we’ve engaged him to do just that on our behalf.”Clark’s appointment as LCBO chairman was discussed by Ontario’s cabinet Thursday morning and will now be finalized after a review by a committee at Queen’s Park.The province announced last fall that it plans to create a subsidiary of the Liquor Control Board of Ontario that will run the legal weed stores. The agency itself will oversee the planning process to establish its retail locations.The province plans to set up approximately 150 standalone cannabis stores by 2020 with the first wave of 40 stores opening this summer.Clark has handled a number of difficult files for Ontario’s Liberal government in recent years, leading a controversial government asset review in 2014 which recommended the partial selloff of Hydro One. In 2015, Clark advised the province on the restructuring of U.S. Steel Canada in Hamilton. In 2016, he conducted a review of the province’s digital health records system.For his work, Clark has taken a salary of one dollar per year, something that Sousa joked won’t change.“As you know he’s been advising and providing some support for the government on a number files and he has been getting his dollar,” Sousa said. “I don’t intend to give him a raise.”Ontario NDP finance critic John Vanthof panned Clark’s hiring saying it sends the signal that the LCBO could be privatized. He urged the premier to cancel Clark’s nomination to the board.“By appointing Clark to the top post at the LCBO, Wynne is sending strong signals that she won’t stop with the selloff of Hydro One,” Vanthof said in a statement. “Ontarians overwhelmingly opposed that short-sighted move, but Wynne went ahead with her plan anyway, and Ontario families are literally paying the price.”Ontario Public Service Employees Union President Warren (Smokey) Thomas also called on Wynne to rescind Clark’s appointment.“Ed Clark has always put profits before people,” Thomas said in a statement. “Giving him the keys to the LCBO will be a huge boon for Bay Street, but it’s going to cause real harm on Main Street.”Sousa denied Clark’s hiring signals a move to privatize the Crown corporation. Clark himself recommended hanging onto the LCBO in his review of government assets, he said.“There is no intent on selling LCBO,” he said. “It’s a very efficient, very productive, well-run organization. It’s valuation is tremendous.”Meanwhile, the provincial government announced Thursday it was accepting public comment on a number of possible further regulations of legal cannabis.The proposals, which would add further detail to provincial pot laws passed in the fall, were posted on a government website. The proposed rules include clarifying where cannabis can be used with exemptions for hotel rooms and vehicles like boats which are used as primary residences. The regulations would also allow pot to be consumed in private residences which are also workplaces.The regulatory changes also appear to open the door to permitting licensed and regulated cannabis consumption lounges and venues.
Statistics Canada says manufacturing helps boost economic growth in NovemberStatistics Canada says manufacturing helps boost economic growth in November
OTTAWA – Strength in manufacturing helped boost economic growth in November as the sector posted its largest monthly increase since February 2014.Statistics Canada said Wednesday real gross domestic product increased 0.4 per cent in November following a flat reading for October.The result matched the expectations of economists polled by Thomson Reuters.TD Bank senior economist Brian DePratto said equally important to the strength of growth was its breadth.Of the 20 industrial sectors tracked, 17 posted increases.“The Canadian economy fired on all cylinders in November: production resumptions led the way, but nearly all major sectors reported gains on the month, an encouraging sign,” DePratto wrote in a report.The Bank of Canada raised its key interest rate target earlier this month on the back of a string of unexpectedly solid economic data. It was the third rate increase since last summer.“Looking through monthly volatility, though, the GDP numbers add to the evidence that the Canadian economy as a whole continues to grow at a modestly ‘above-potential’ pace even as it increasingly looks to be operating at or beyond its long-run capacity,” Royal Bank senior economist Nathan Janzen wrote.The growth in November came as goods-producing industries rose 0.8 per cent boosted by the manufacturing sector and mining, quarrying and oil and gas extraction.The manufacturing sector gained 1.8 per cent in November as non-durable manufacturing rose 1.1 per cent while durable manufacturing increased 2.5 per cent.Mining, quarrying, and oil and gas extraction increased 0.5 per cent.Meanwhile, services-producing industries climbed 0.3 per cent, led by the real estate and rental and leasing, wholesale and retail trade sectors.Real estate and rental and leasing rose 0.4 per cent in November while retail trade gained 0.6 per cent and wholesale trade rose 0.5 per cent.
Enbridge TransCanada shares flat after steep dive due to US tax rulingEnbridge TransCanada shares flat after steep dive due to US tax ruling
CALGARY – Shares in Canadian pipeline companies Enbridge Inc. and TransCanada Corp. failed to recover fully Friday from a steep sell-off on Thursday after the U.S. said it would eliminate a tax break for owners of certain interstate pipelines.Both Calgary-based companies hold such pipelines in the United States through master limited partnerships or MLPs.The decision by the U.S. Federal Energy Regulatory Commission to no longer allow MLPs to recover an income tax allowance from cost of service tariffs came in response to a 2016 court ruling that found its long-standing tax policy could result in double recovery of costs.Enbridge shares fell by 4.2 per cent to $41.06 on Thursday but recovered to close at $41.28 on Friday, up 22 cents, after it issued a statement that says it is not expecting a “material change” to its financial guidance over the next three years because of the FERC ruling.TransCanada shares dropped 2.1 per cent to $55.89 on Thursday. On Friday, they rebounded to reach an interday high of $56.45 but closed two cents lower.The company had no immediate comment.FirstEnergy Capital said in a report TransCanada will be less affected than Enbridge because its main exposure is through its interest in TC PipeLines.Enbridge has two MLPs, Enbridge Energy Partners, and Spectra Energy Partners.It said in its statement the former is expected to experience an $80-million decrease in annual distributable cash flow because of the FERC decision, but that will be somewhat offset by a revenue increase on the Canadian Mainline system held by Enbridge Income Fund Holdings Inc.About 60 per cent of Spectra’s gas pipeline revenue comes from negotiated or market-based tariffs and are not directly affected by the FERC policy revisions but the remainder is from cost of service-based tariffs which “could be subject to tax recovery disallowance,” it said. Spectra pipelines that move oil and other petroleum liquids are not expected to be affected.CIBC estimated the FERC ruling would knock about $3 per share from of its valuation of Enbridge and $1 per share for TransCanada.“We cannot help but wonder about the long-term viability of MLPs,” it said in a report.“Our expectations are that many of the MLPs held by corporations will need to consider converting to corporations if no consideration is given to the fact that they are held by taxable U.S. entities.”The report says the implications of the FERC decision are difficult to quantify given the strategies companies may employ to deal with it and the mix of existing rate structures and rate settlement terms, but the impact should decline over time as newer pipelines tend to employ negotiated rates, not cost of service tariffs.Follow HealingSlowly on Twitter.Companies in this story include (TSX:ENB. TSX:TRP)
Power Corp ready to invest more than 10 billion as it targetsPower Corp ready to invest more than 10 billion as it targets
MONTREAL – Power Corp. is prepared to invest more than $10 billion over the next five years to expand its empire while it also looks to sell some assets and exit the newspaper business, the holding company’s co-CEOs said Friday.“We have a capacity in the coming five years to put capital exceeding $10 billion at work to play a consolidation game and to play the game in the big leagues,” Paul Desmarais Jr. said at a news conference after its annual meeting.He said the sum will be larger when including money to be invested by subsidiaries like Power Financial.A key area of focus is the U.S. pension fund business that is expected to undergo consolidation. Currently, it owns Putnam Investments, acquired in 2007.“It’s a very fragmented business and we will have an opportunity to be one of the big consolidators in this industry.”Desmarais added that the large Canadian holding company — which has assets around the world including a large stake in China Asset Management Co. — is examining some of its capital intensive businesses to see if they can be sold at attractive prices.Co-CEO and brother, Andre Desmarais, added that insurer Great-West Life and fund manager IGM Financial are not on the sales block.Desmarais said he expects other Canadian newspaper owners will take a hard look at its decision to transform its Montreal La Presse news group into a not-for-profit structure.The 130-year-old newspaper is owned by Square Victoria Communications Group, a subsidiary of Power, which plans to grant $50 million to the venture.Under the new structure, Power Corp. would no longer own the media company or have any ties with the not-for-profit structure.“I think it makes a lot of sense and I think it makes sense for English Canada as much as it does for Quebec,” he told reporters.Desmarais noted that all news media outlets are grappling with the rise of digital competitors such as Google and Facebook, and will have to figure out how to proceed.“Everyone will have their why now moment and probably a public company will have a why now moment a lot faster than a private company.”Part of the shift in La Presse’s ownership structure is designed to allow it to get donations and funding from government, which is unfeasible as long as it is owned by one of Canada’s richest families.“If I was in government I wouldn’t give a subsidy to the Desmarais family. It would be misinterpreted,” he said.But Andre Desmarais said he’s optimistic that the federal government, which is studying funding for national newspapers, will end up providing funding because it would want to help a medium that supports democracy. He noted that the CBC gets about $1 billion a year, but just for the broadcast medium.Meanwhile, Paul Desmarais told shareholders that the Lafarge board of directors, on which he is a member as the owner of 9.43 per cent in Lafarge-Holcim, was not aware of the cement maker allegedly funding Syrian militants until it was reported on by the media in 2016.“As soon as this matter was brought to its attention, the board of directors immediately initiated an independent internal investigation, the results of which were, on its own initiative, turned over to the authorities with the assurance of its co-operation,” he said in a statement read to reporters.It also implemented additional compliance and internal control measures.French and Belgian authorities are investigating several ex-employees for their alleged roles in indirectly funding groups including the Islamic State to guarantee safe passage for staff and supply of plants.The wrongdoing precedes Lafarge’s merger with Swiss company Holcim in 2017.Power Corp. says its net earnings more than doubled to a record $525 million or $1.13 per share in the first quarter, compared with $258 million or 56 cents per share in the prior year quarter.Excluding restructuring and other charges last year, adjusted profits were $269 million or 58 cents per share in the first quarter of 2017.Power increased its quarterly dividend 6.6 per cent to 38.20 cents per share, payable June 29 to shareholders of record June 8.———Power Corp. holds an investment in The Canadian Press as part of a joint agreement with a subsidiary of the Globe and Mail and Torstar Corp.Companies in this story: (TSX:POW, TSX:PWF).
Qatars energy minister says country is pulling out of OPECQatars energy minister says country is pulling out of OPEC
DUBAI, United Arab Emirates — The tiny, energy-rich Gulf Arab nation of Qatar says it will withdraw from OPEC, the Organization of the Petroleum Exporting Countries, in January.Qatar’s Energy Minister Mohammed bin Saleh al-Sada made the surprise announcement during a news conference in the Qatari capital, Doha, on Monday.Qatar is the world’s biggest exporter of liquid natural gas.Qatar, a country of 2.6 million people where citizens make up over 10 per cent of the population, discovered the offshore North Field in 1971, the same year it became independent.It took years for engineers to discover the field’s vast reserves, which shot Qatar to No. 3 in world rankings, behind Russia and Iran, with which it shares the North Field.The Associated Press
EU withdraws ban threat on Thai fisheries after reformsEU withdraws ban threat on Thai fisheries after reforms
BRUSSELS — The European Union has withdrawn its threat to ban Thai fisheries exports into the bloc after Bangkok pushed through reforms to contain illegal fishing.Thailand, one of the main global fish exporters, had been faced with the threat of a ban for more than three years over its failure to combat illegal fishing, but consultations with the EU and legal and compliance reforms allowed the bloc to take back the so-called yellow card.EU fisheries Commissioner Karmenu Vella met with Thai deputy prime minister Sarikulya Chatchai Tuesday and said that as combating illegal fishing remains a priority for the EU, he was “excited that today we have a new committed partner in this fight.”The Associated Press
Local author hosting launch of new book in Fort St JohnLocal author hosting launch of new book in Fort St John
Book signing flyer. Photo by Jenna Morland. “This is where I live, this is where my husband works and it just seems right I guess you could say,” said Morland. “This community, when it comes to supporting the arts, has always been good at that kind of thing. There is a lot of talented people in this town.”Local Author Jenna Morland with her book Empress Unveiled. Photo by Jenna Morland.Morland added that her book was published after she entered a Twitter pitch party. A pitch party is when authors pitch their book to publishers in 150 characters or less, if the publishers like the book, they will pick it up.“The publisher I have now liked the tweet, I sent them all the stuff and then three months later there was an offer for a publishing deal.”The book launch will be from 4:00 to 6:00 p.m. on September 8th, all residents are welcome to come. Eric Clark will be a special guest performing live music while Morland will be on hand to do a reading. Residents who buy books or t-shirts will be entered into a prize draw for a 30-minute, four-person Highland Helicopters ride.Residents who would like to learn more about “Empress Unveiled” can do so by visiting Morland’s Instagram, Twitter and website. FORT ST. JOHN, B.C. – Fort St. John author Jenna Morland is set to launch her new book next weekend at Brown’s Socialhouse.The book is titled “Empress Unveiled” and is a young adult fantasy. The story is a fantasy romance that follows an ill teenager, her very human best friend and a fae sentenced to death. The main character must battle love, broken hearts, death and the crown. Morland explained that launching her book in Fort St. John just felt right.
Soon after the elections were announced, West Bengal’s Trinamool Congress unveiled its list of candidates for the upcoming Lok Sabha polls on Tuesday. New faces and significant ommissions featured in the list as TMC gears up for the battle to ‘save democracy’ – as reiterated by their chief Mamata Banerjee who is focussed on ousting NDA from power. A list merely announced the representatives of a party that will be instrumental in getting votes for the party. From the micro outlook of elections, it is these representatives and their credibility which will be pivotal besides the party popularity and ideology. Of course, TMC’s credibility is well-known in West Bengal but even then, a reinforced approach in choosing the right person for the right place has been followed by the party to ensure the 42 seats of the state. Each name, new or old, has been chosen for its respective constituency with the collective objective of ensuring victory – as should be the case. But Mamata has done the shuffling to ensure victory all the more in a strong attempt to not let BJP grab those seats. The party objective is crystal clear down to the last fragment. Their representation features a 41 per cent representation to women, higher than 35 per cent in 2014, with 7 candidates from the Muslim community and 12 from the Scheduled Castes and Scheduled Tribes. The concoction that Mamata has prepared for BJP in her bastion is no less than a formidable fort’s strong defence line. Mamata expressed her disappointment at the polling schedule which has pitted West Bengal’s polling across all seven phases of the mandate. Her expected criticism was directed towards the saffron party for playing vendetta politics by allegedly influencing the election schedule to disturb the state. She stated the peculiarity of conducting polls in West Bengal with 42 seats in all seven phases but keeping Tamil Nadu’s mandate with 39 seats in just one phase. The Election Commission’s autonomy certainly cannot be questioned, however, the facts definitely tinker curiosity. Not just West Bengal, Mamata’s list fields candidates in other states ensuing from Mamata’s improvised ploy and her efforts in uniting opposition parties against BJP prior to the announcement of elections. Targetting seats in other states where usually other regional parties are supposedly stronger is either a desperate move to maximise outreach or aid allies in their battle. With TMC’s precise objective, evident through the United India rally and pre-poll mutual agenda of dethroning Modi, Mamata has exercised every inch of her arsenal in giving BJP a tight competition besides her bastion – whichever way possible. TMC has declared candidates for three seats in Jharkhand, six in Assam, two in both Bihar & Odisha as well as a solitary seat of Andaman & Nicobar islands. Mamata has ensured that her efforts in these states do not hurt the regional parties by noting that her party will contest the polls in those states in consultation with allies. Politics might be a civil affair but it involves experienced strategising to ensure that the desired outcome is achieved – much like Military affairs. While it is true that public opinion shapes the outcome graph, still there are additional factors which influence polls and both BJP and TMC will certainly look to utilise it to their advantage. Mamata wants to ensure that BJP does not take advantage of TMC’s candidates in the fray since usually multiple candidates by multiple parties only aid fragmentation of votes – a scenario where BJP can capitalise. TMC’s representation of time tested politicos along with the support extended to aid parties in other states devises a perfect plot to ensure that BJP is unable to garner votes. Mamata reiterated that her party would not ally with anybody before the election and urged the strong regional parties to take on BJP on their turfs. A post-poll alliance is on the cards for which not just TMC but all the parties will fix their bargaining power in the formation of a coalition government that the united opposition parties desire. It is the common aim to oust BJP that has demanded them to sideline individual differences and unite. It is not very different from what a general military tactic would be in a foreign land where advantage rests with the regional forces. In this context, TMC has assumed the battle formation, all set to fight!