Aga shares heat up over rival bid from Whirlpool

first_img Aga shares heat up over rival bid from Whirlpool Share whatsapp Wednesday 2 September 2015 4:54 am SHARES in Aga Rangemaster, the upmarket oven-maker, shot up by almost 10 per cent yesterday after appliances giant Whirlpool gatecrashed its agreed £130m takeover by fellow US company Middleby.The firm, whose iconic iron stoves are synonymous with the British middle class, confirmed yesterday it has received an approach regarding a possible cash offer from Whirlpool and that it has agreed to open its books. However, the board said it still recommends that investors accept Middleby’s offer and confirmed it will be pushing ahead with the takeover given that Whirlpool’s offer could fall through. “The making of a firm offer by Whirlpool remains subject to a number of conditions and there is no certainty that any offer will be forthcoming or as to the terms of any offer,” Aga said.The 76-year-old company, which is saddled with a hefty pension deficit, confirmed the 185p per share offer by US manufacturer Middleby in July. The sale was set to be approved by shareholders on 8 September. However, it said it could adjourn a meeting to sanction the Middleby takeover if it received an offer from Whirlpool that it could recommend to shareholders.Aga’s shares jumped by 9.76 per cent to 201p on the news, while Whirlpool’s went down the drain, shedding 4.6 per cent in New York yesterday.Earlier this month, Aga reported a 1.5 per cent rise in revenues to £125.4m in the first half of the year, with operating profits up 17 per cent to £2.8m. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap Tags: NULL whatsapp Show Comments ▼ Express KCS last_img read more

Intact Financial to buy U.S. specialty insurer for US$1.7 billion

first_imgCanadian Press Toronto-based Intact Financial Corp. says it has reached a US$1.7-billion deal to buy OneBeacon Insurance Group, Ltd., a U.S. specialty insurer. Under the terms of the all-cash deal, OneBeacon shareholders will receive US$18.10 cash per common share, a 14% premium based on OneBeacon’s closing stock price on the NYSE of US$15.89 as of May 1, and a 15% premium to the volume weighted average price over the last 30 days. Keywords Property and casualty insurance industryCompanies Intact Financial Corp. Desjardins to rebrand State Farm business In addition, OneBeacon debt of approximately US$275 million will remain outstanding. Pending approval by OneBeacon’s shareholders, Toronto-based Intact says the acquisition will make it a North American leader in specialty insurance with more than C$2 billion of annual premiums. Intact says the deal will bolster its Canadian business with new products and cross-border capabilities, and better positions Intact to compete with international insurers. Kingsway Financial Services sells non-standard auto insurance businesscenter_img Related news Share this article and your comments with peers on social media Economical Insurance delivers demutualization plan to OSFI Facebook LinkedIn Twitterlast_img read more

Universitas rebrands as Kaleido, enhances portfolio diversification

first_imgBooks and money coins in the glass jar zoomed by the magnifying glass on blurred natural green background and added colour filter for financial and education concept 123RF Related news Tories promise to boost RESP grants, raise maximum lifetime contribution limit Kaleido will amend the investment policy of its Reflex, Universitas and Individual plans to incorporate the new asset classes permitted under the exemption. It will also adjust each plan’s investment strategy. The AMF exemption and the revised investment policy will come into effect in December, when plan prospectuses are renewed.Kaleido is an RESP dealer serving clients in Quebec and New Brunswick. IE Staff Greens would axe RESP Facebook LinkedIn Twitter Keywords RESPs Earlier this week, Quebec City-based Universitas rebranded as Kaleido. On Thursday, the RESP dealer announced that its education savings plans now have access to a broader range of investments.In a release, Kaleido said the Autorité des marchés financiers (AMF) has granted it an exemption allowing it to invest scholarship plan assets in bonds issued and guaranteed by the U.S. government, in addition to corporate bonds, mortgage-backed securities, Canadian and U.S. equities, and index participation units, among other asset classes. Share this article and your comments with peers on social media FAIR Canada requests relief for group RESP customerslast_img read more

CI Financial sees profit increase in Q3

first_img Toronto-based CI Financial Corp. reported its third-quarter earnings on Thursday, showing increased profit and a record level of assets in wealth management as the firm continued to expand into the U.S.Earnings per share for the quarter were $0.62, compared to $0.56 in the previous quarter and $0.60 in the third quarter of 2019. IE Staff CI had nearly $144 million in free cash flow in Q3, an increase of 12% from about $128 million in Q2 and a decline of 1% from the same quarter a year ago.In a release, Kurt MacAlpine, CI CEO, described the results as “strong” and attributed them to “cost discipline.”Selling, general and administrative (SG&A) expenses were cut by nearly $16 million, or 13%, year over year in the quarter. Excluding the impact of acquisitions, SG&A was reduced by about $19 million, or 16%, compared to the third quarter of 2019, the firm said.At Sept. 30, 2020, total assets under management were $128.3 billion, an increase of 2% from June 30, 2020, and a decline of 1% from Sept. 30, 2019.Core assets under management, which consist of assets managed by CI’s Canadian and Australian subsidiaries, were $123.6 billion at Sept. 30, 2020, an increase of 2% from three months earlier and a decline of 5% year over year.During the third quarter, U.S. assets under management grew by 10% to $4.7 billion.Total wealth management assets at quarter-end were $66.1 billion — a quarter-end record for CI — and an increase of $12.3 billion or 23% over June 30, 2020, and an increase of $18 billion or 37% year over year.The increase came with the firm’s acquisition of Illinois-based Balasa Dinverno Foltz LLC and an interest in Boston-based Congress Wealth Management, LLC.U.S. wealth management assets were $14.9 billion at quarter-end, up $10 billion over the previous quarter.Canadian wealth management assets, at $51.2 billion, increased 4% during the quarter and 6% from a year ago. This included assets of Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, CI Direct Investing (WealthBar Financial Services Inc.) and Virtual Brokers.CI reported $2 billion in overall net redemptions for the quarter.CI’s Canadian retail business, excluding products closed to new investors, had $1.4 billion in net redemptions, relatively unchanged versus the third quarter of 2019. CI’s Canadian institutional business had net redemptions of $1.1 billion, an increase of $0.7 billion from the same quarter a year ago.New U.S. acquisitions were announced in the quarter, as well as a majority interest in Burlington, Ont.–based Aligned Capital Partners Inc.Since the third quarter, CI’s expansion into the U.S. wealth management business has included the acquisitions of New York–based Roosevelt Investment Group, Inc., which the firm announced on Wednesday; Florida-based Doyle Wealth Management Inc.; and Houston-based Stavis & Cohen Financial LLC (majority interest).CI also said on Thursday that its common shares have been approved for listing on the New York Stock Exchange, and it expects trading will begin on Nov. 17, 2020. Facebook LinkedIn Twitter Keywords Earnings,  Asset management companiesCompanies CI Financial Corp. U.S. action on climate benefits banks, asset managers: Moody’s Business and financial report with laptop Accounting economic nonwarit/123RF One year after price collapse, expectations are high for oil company earnings Research finds that diversity in asset management pays off Share this article and your comments with peers on social media Related newslast_img read more

$650 Million Disbursed to Small Businesses Under $1 Billion NIF Credit Facility

first_imgFacebookTwitterWhatsAppEmail Some $650 million, out of an allocated $1 billion, has been disbursed from the National Insurance Fund (NIF) credit facility to assist small and medium enterprises.Minister of Labour and Social Security, Hon. Pearnel Charles, making the disclosure as he opened the 2009/10 Sectoral Debate in the House of Representatives yesterday (June 23), said that 371 businesses have benefitted from assistance, with 2,810 jobs created or sustained.He informed that the balance of $350 million will be used to target displaced workers. The funds will be made available through participating financial institutions, which will conduct their own due diligence.“These institutions will bear the credit risk for the loans,” he said, noting that all beneficiaries must be registered under the National Insurance Scheme (NIS).It is projected that more than 1,000 jobs will be created through the assistance to the small business sector. Related$650 Million Disbursed to Small Businesses Under $1 Billion NIF Credit Facility $650 Million Disbursed to Small Businesses Under $1 Billion NIF Credit Facility ParliamentJune 24, 2009 Related$650 Million Disbursed to Small Businesses Under $1 Billion NIF Credit Facilitycenter_img Related$650 Million Disbursed to Small Businesses Under $1 Billion NIF Credit Facility Advertisementslast_img read more

Registrations now open for JobMaker Hiring Credit

first_imgRegistrations now open for JobMaker Hiring Credit Eligible employers are now able to register for the new JobMaker Hiring Credit scheme, being administered by the ATO on behalf of the Government.The JobMaker Hiring Credit payment is a wage subsidy paid directly to employers that will help to accelerate growth in the employment of young people during the COVID-19 economic recovery. The scheme is an incentive for businesses to employ additional job seekers aged 16 to 35 years.Eligible employers can access the payment for up to 12 months for each eligible additional employee they hire between 7 October 2020 and 6 October 2021. They will be able to claim up to $200 a week for each additional eligible employee they hire aged 16 to 29 years, and up to $100 a week for those aged 30 to 35 years.This means that an employer will be eligible for up to a total of $10,400 over the year for each eligible employee aged 16 to 29 years or $5,200 if aged 30 to 35 years.Deputy Commissioner James O’Halloran said the ATO is working hard to make it as easy as possible for employers to access the Government’s JobMaker Hiring Credit payment.“The ATO is here to support employers and the community to easily access important economic stimulus like the JobMaker Hiring Credit,” said Mr O’Halloran.Mr O’Halloran encouraged businesses to check their eligibility and take this first step to register for the scheme from this week and then employers will be ready to move to quickly make a claim in February 2021. You cannot claim if you are not registered.“We encourage employers to register from now to ensure their hiring credits can be paid promptly from when the first quarterly claim period opens in February 2021,” said Mr O’Halloran“Employers are reminded that new employees must have received the Parenting Payment, Youth Allowance (Other) or JobSeeker Payment for at least 28 consecutive days (or 2 fortnights) within the 84 days (or 6 fortnights) of being hired to allow for a claim to be made by the employer,” said Mr O’Halloran.“There are some key dates to keep in mind, and simple steps employers can take now, but please remember that not everything needs to be done from next week.”Employers and employees must meet eligibility requirements to receive the payment.Employees must be aged 16 to 35 years.Employees must have started employment between 7 October 2020 and 6 October 2021 (inclusive) andEmployees need to have completed a minimum average of 20 hours (worked or paid) per week during the time they were employed in the JobMaker period.“I encourage employers seeking advice on the JobMaker Hiring Credit to contact their tax or BAS agent, or call us on our dedicated help line 13 28 66.”Key dates to rememberThe JobMaker Hiring Credit scheme started on 7 October 2020.You may be able to claim for employees hired between 7 October 2020 and 6 October 2021.You can register from 7 December 2020 through ATO online services, the Business Portal or your registered tax or BAS agent.Claims for the first quarterly payment will open on 1 February 2021.The last day you are able to claim for employees is 6 October 2021.If you hire an employee on 6 October 2021, you are able to claim for payment to 6 October 2022.The JobMaker Hiring Credit scheme will end on 6 October 2022. /Media Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:ATO, Australia, Australian Taxation Office, business, Commissioner, community, coronavirus, covid-19, economic stimulus, employment, Government, hire, Internet, JobSeeker, meet, parenting, tax, Youthlast_img read more

Former CU greats aiming for gold in Rio

first_imgIf there’s one thing to be learned from an athlete’s first Olympic experience, it is how to deal with the distractions that accompany such a monumental event.Those athletes good enough to live the experience again apply those lessons from their maiden voyage.Jenny Simpson and Emma Coburn have learned. The two University of Colorado graduates and training partners will line up in August at the XXXI Olympiad in Rio with the first-time jitters out of the way and their eyes focused clearly on medal-worthy performances.Simpson, an NCAA champion and multiple-time All-American as a Buff, made her Olympic debut in 2008 in the steeplechase in Beijing, where she finished ninth. She then competed in the 1,500-meter run in London in 2012, advancing to the semifinals, and this year will compete again in the 1,500 in her third Olympic appearance.Coburn, also an NCAA champion and All-American at CU, ran in her first Olympics in London in the steeplechase and finished ninth. She’ll compete in the same event this year after setting the American steeplechase record earlier this year — breaking the mark previously held by Simpson.Simpson is no stranger to success on the world stage. She won gold at the 2011 World Championships in the 1,500, then added a silver medal to her collection in 2013. But missing from her collection is an Olympic medal, something she would like to rectify in her third appearance.”I hope I’m getting better as I go,” she said Thursday morning at a press conference at the CU Champions Center. “When you wear the red white and blue and you represent your country, it’s this incredible feeling that you have. I do think I appreciate a lot of my participation and the opportunity ahead of me more than I did in 2008 and more than I did in 2012. While my respect for it and appreciation for it is growing, so is my ability to focus in on one thing and eliminate the distractions. … I think is a good thing for me to be able to focus strictly on my performance.”Coburn doesn’t have quite the international experience that Simpson possesses, but she is by no means a stranger to the world stage. Along with her 2012 Olympics appearance, she also competed in the 2015 World Championships and has a host of other international races under her belt.”Like Jenny said, the first of the Olympic experiences are a little overwhelming,” Coburn said. “There are moments that gave me chills. Just being in the (Olympic) Village, being in the Opening Ceremonies. But I would say this time around is definitely less about that Olympic experience and more about that Olympic race and more about those nine minutes on the track.”Both women will be among the favorites to land a spot on the podium, as both have run times among the top 10 in the world in their event this year. Simpson’s 4:01.57 clocking earlier this year in Eugene, Ore., is ninth-best in the world this year while Coburn’s 9:10.76 at the same meet is fourth-best in the world. Both also won their events at the recent U.S. Championships, which served as the Olympic trials.Read more.  Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: July 22, 2016 center_img Categories:AthleticsCampus Communitylast_img read more

From the AVC for Student Affairs: Be friendly, be thoughtful, be kind

first_imgIn celebration of Random Acts of Kindness Week, AVC Akirah Bradley takes a photo with students on campus after handing out small giveaways to brighten their day.We’re all a part of the Buff community at CU Boulder, and being a part of this community means we care and look out for one another. This week just happens to be Random Acts of Kindness Week, and I encourage you all to consider how you can spread kindness and support your fellow Buffs as we approach midterms.A thoughtful act of kindness can have a huge positive impact on the recipient. The best part about these gestures is that it has a ripple effect. One kind deed turns into a chain of acts that positively affects many people, creating a friendly and positive atmosphere on campus.As a part of our effort within the Division of Student Affairs to promote and celebrate Random Acts of Kindness Week, Student Affairs staff handed out small giveaways with fun messages to students. It was inspiring to see first-hand how this simple gesture completely brightened someone’s day and spread positive vibes throughout campus.  How will you spread kindness this week, and after this week? There are plenty of ways to participate: You can express appreciation for a friend or family member, purchase a beverage for the person in line behind you at the coffee shop or simply acknowledge fellow Buffs with a smile and friendly greeting as you pass them on campus.An easy way to contribute a random act of kindness on campus is through the Buff Days of Gratitude event with New Student and Family Programs. This event, now through Feb. 16, encourages the CU community to give thanks to those who have had a significant impact on our lives. Check out their webpage to see how you can participate.For more ideas on random acts of kindness, visit the Volunteer Resource Center’s Facebook page.And as midterms approach and we endure these last few weeks of winter, remember to also be kind to yourself. Take some time out of your day to relax, indulge in a favorite hobby or treat yourself. You deserve it!Akirah Bradley,Associate Vice Chancellor for Student AffairsCategories:Leadership CornerCampus Community Share Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Feb. 15, 2018 last_img read more

JPs Urged To Take Part in Training Programmes

first_imgRelatedJPs Urged To Take Part in Training Programmes JPs Urged To Take Part in Training Programmes JusticeNovember 8, 2011 RelatedJPs Urged To Take Part in Training Programmes Advertisements FacebookTwitterWhatsAppEmail KINGSTON — Justice Minister, Hon. Delroy Chuck, has urged Justices of the Peace (JPs) to participate in the Ministry’s various training programmes, tailored towards enhancing dispute resolution skills and processes. Speaking at a recent restorative justice national stakeholders’ sensitisation forum at the Morant Bay Parish Church in St. Thomas, Mr. Chuck said the training forms part of the series of programmes being undertaken by the Ministry, including a focus on victim support, in its move to advance the concept of restorative justice. Restorative justice is defined as the process whereby all parties with a stake in a particular offence, come together to collectively resolve how to treat with it in the aftermath of the incident’s occurrence. Mr. Chuck said the Ministry’s efforts are aimed at empowering the JPs with the knowledge of the principles, programmes, and policies of restorative justice, “so that you can take charge of a situation, and know what is to be done.”  “So, what the Ministry of Justice will be rolling out, as long as you are prepared to work with us, is a way how you can assist in resolving disputes and disagreements, and in stopping criminal activity that result from these disagreements. So, when we talk about restorative justice, victim support, dispute resolution, we are urging all the JPs to engage in them,” the Minister said. “If you equip yourself with that knowledge of dispute resolution, which we are hoping will eventually come to every parish, and every community, where persons can be trained in dispute resolution, then you can see how you can assist the districts, the communities, the parishes, and Jamaica,” Mr. Chuck added. He pointed out that not every dispute has to end up in the court, and that if the disputing parties can settle their differences, using a JP as a mediator, then “it’s a win-win situation.” “Dispute Resolution is one area that I believe we are going to urge you to buy into, because if the wrongdoer can admit that he was wrong, and the victim can forgive, both parties can come back together. I am urging JPs… make yourselves available to take some training in dispute resolution,” Mr. Chuck urged. RelatedJPs Urged To Take Part in Training Programmes By Douglas Mcintosh, JIS Reporterlast_img read more

Man arrested under Terrorism Act in Derry today

first_img Nine til Noon Show – Listen back to Monday’s Programme Homepage BannerNews News, Sport and Obituaries on Monday May 24th Pinterest Twitter Man arrested under Terrorism Act in Derry today Twitter Previous articleCovid-19 knows no borders – McCallionNext article163 additional cases of Covid-19 reported in Northern Ireland News Highland A 36 year old man has been arrested in Derry today under the Terrorism Act.Detectives from the Police Service of Northern Ireland Terrorism Investigation Unit conducted a planned search in the city in relation to ongoing investigations into violent dissident republican activity.The man remains in police custody. Loganair’s new Derry – Liverpool air service takes off from CODA Google+ Facebookcenter_img Google+ WhatsApp Arranmore progress and potential flagged as population grows RELATED ARTICLESMORE FROM AUTHOR DL Debate – 24/05/21 WhatsApp Important message for people attending LUH’s INR clinic Pinterest Facebook By News Highland – September 18, 2020 last_img read more