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TSX rises as traders look to U.S. jobs data, European stimulus

first_img Facebook LinkedIn Twitter Rising interest rates could dampen stimulus impact: PBO Malcolm Morrison The Toronto stock market closed higher Wednesday amid hopes that stimulus measures are on the way to help the eurozone recovery and that the U.S. will rack up another month of strong job gains. The S&P/TSX composite index was ahead 62.1 points to 14,796.79. Related news Fed warns U.S. financial system remains vulnerablecenter_img BoE predicts best economic year for the U.K. since 1941 The Canadian dollar was down 0.24 of a cent to 91.42 cents as the Bank of Canada announced it was keeping its key rate unchanged at one per cent and indicated they will stay that low for some time to come. U.S. indexes registered minor gains despite a disappointing read on private sector job creation during May. The Dow Jones industrials climbed 15.19 points to 16,737.53, the Nasdaq gained 17.56 points to 4,251.64 and the S&P 500 index was 3.64 points higher to 1,927.88. Payroll firm ADP reported Wednesday that the U.S. private sector created 179,000 jobs during May, the fewest number in four months. That reading came in two days before the release of U.S. non-farm payrolls report for last month. Economists have forecast that about 219,000 jobs were created during May following a much stronger than expected 288,000 gain in April. Canadian job figures for May also come out Friday and economists expect about 21,000 jobs were created after the economy shed 29,000 the previous month. The employment news was somewhat offset by other data showing the American non-manufacturing sector expanding at a faster than forecast clip. The Institute for Supply Management said its index rose to 56.3, the highest level since last August and above expectations for a read of 55.5. Also, the Federal Reserve’s latest regional survey shows the U.S. economy strengthening over the past two months in areas from manufacturing and construction to retail sales and bank lending. Meanwhile, markets are counting on the European Central Bank to announce measures Thursday aimed at giving a lift to the eurozone’s weak recovery and saving the region from falling into a deflationary spiral that would choke off growth. Worries about deflation increased Tuesday in the wake of data showing that inflation in the eurozone came in at 0.5 per cent in May, down from 0.7 per cent in April. “I would actually use the word ‘scary’ because growth has been very fragile at best and now you have disinflation. If that turns to deflation, we know the experience on this from Japan and it is not a pretty story,” said Luciano Orengo, a portfolio manager at Manulife Asset Management. The latest data also showed that gross domestic product in the eurozone grew by a paltry 0.2 per cent in the first quarter. Analysts are looking at a variety of options for the ECB, including an interest rate cut. “I think the biggest wild card is whether it will do a form of quantitative easing,” added Orengo. The information technology sector was the biggest TSX advancer, up one per cent as BlackBerry (TSX:BB) ran up 25 cents to $8.40. The financial sector was ahead 0.64 per cent and Laurentian Bank of Canada (TSX:LB) shares edged 48 cents higher to $48.06 as the bank’s adjusted profit came in at $1.29 a share, five cents ahead of estimates. Laurentian also upped its quarterly dividend by a penny to 52 cents per share. The gold sector was ahead about 0.2 per cent, while August bullion lost early momentum and faded 20 cents to US$1,244.30 an ounce. The energy sector was up 0.63 per cent while the July crude contract on the New York Mercantile Exchange dipped two cents to US$102.64 a barrel. The base metals segment led decliners, down 0.27 per cent while July copper fell four cents to US$3.09 a pound. Share this article and your comments with peers on social media Keywords Interest rates,  Marketwatch last_img read more

Toll to get posted to Japan?

first_imgAn official announcement said that the proposed acquisition of Toll is an important step by Japan Post “to become a leading global logistics player”. It added that if the proposal is approved, Toll will be run as a division within Japan Post and will retain the Toll name.Toll management will remain in place with ceo Brian Kruger reporting to Japan Post ceo Toru Takahashi.Toll chairman Ray Horsburgh said: “We are delighted to recommend to shareholders that Toll joins with Japan Post. Japan Post is one of the world’s leading postal and logistics companies and Toll is the largest independent logistics group in the Asia Pacific. Together, this will be a very powerful combination and one of the world’s top five logistics companies.”Toll ceo Brian Kruger said: “The proposed combination is a reflection of the strategic value of our business and our strong footprint throughout the Asia Pacific region. I am delighted to have been invited to lead this powerful new division of Japan Post and look forward to working with the rest of the group.”President and ceo of Japan Post, Toru Takahashi, said: “We believe the combination of Japan Post and Toll will be a transformational transaction for both our companies and we are very pleased we have been able to reach agreement. In partnership with Toll we are starting a new chapter of looking outward and becoming a leading global player.””Toll has become an iconic Australian transport and logistics business with significant operations in Asia. We will be complementary to Japan Post, and closely aligned in our target markets. Combined we will have an expansive geographical footprint with Toll providing expertise in the global logistics and transport markets. Japan Post will bring extra capability, financial strength and significant scale to accelerate growth. Together we will offer an enhanced value proposition while delivering innovative, efficient and cost effective solutions to our customers,” Kruger added.The Scheme Booklet containing information relating to the proposal, the reasons for the directors’ unanimous recommendation and details of the shareholder meeting is expected to be sent to Toll’s shareholders in April 2015.It is anticipated that Toll shareholders will have the opportunity to vote on the proposal at a meeting to be held in May 2015.Subject to the conditions of the Scheme being satisfied, it is expected to be implemented in early June read more

Cleveland Browns – Bob Wylie Hire Is Official

first_img Co-editor, photographer covering the Cleveland Monsters, Gladiators and Indians. Also, passionate about high school sports, be sure to follow David on Twitter and Instagram @neosi_sprouse for in-game updates and up-to-the-minute developing news. Related Topics2017 NFL SeasonBob WylieCleveland BrownsOffensive Line CLEVELAND, Ohio – Last week it was reported by NEOSI that Offensive Line Coach, Bob Wylie was being considered for a position with the Cleveland Browns by Head Coach Hue Jackson. Today it was solidified.Much to the delight of Browns fans, the addition of a long-time veteran such as Wylie could improve the protection of whomever the starting QB will be this year. Thus resulting in a more consistent and less injury-riddled offense for the Browns.Consequently the Browns gave up 66 sacks by the end of 2016 season and that was 17 more than any other team in the NFLBrowns Head Coach, Hue Jackson and Wylie have a history, having worked together when Jackson was the Head Coach of the Oakland Raiders in the 2011 season.Wylie has been an offensive line coach for 35 years working with several different teams. To his credit, the year that he worked with Jackson, the offensive line went from 29th to 4th in sacks allowed.center_img David Sprouselast_img read more

Family of support for kinship carers

first_imgOn a cool morning in Pakenham, an unlikely group meets for a seminar and brunch. They seem to come from…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription. By Danielle Kutchel last_img

PEOPLE Jason Merrithew named President of Merit Travel Groups wholesale specialty leisure

first_img Posted by Share << Previous PostNext Post >> Friday, January 6, 2017 TORONTO — Merit Travel Group has appointed Jason Merrithew President of the Group’s wholesale and specialty leisure travel business.In his new role, Merrithew will oversee the Group’s flagship Merit Travel brand in addition to the operations of Travelcuts and Exclusive Tours. He will also leverage Merit’s recent partnership with H.I.S. Travel of Japan to “significantly grow the leisure travel business in Canada” and lead the international expansion of all three leisure travel brands.Merit began operations in 1991 and grew to become one of the largest independent travel companies in Canada. More than 450 Merit travel professionals advise over 350,000 Canadian travellers every year. Merit Travel Group operates many specialty travel brands including Merit Travel, Travelcuts, MeritBiz, Merit Loyalty and Exclusive Tours, all jointly owned by the Merrithew Family and Tokyo-based H.I.S. Co. Ltd.center_img Travelweek Group Tags: Merit Travel Group, People [PEOPLE] Jason Merrithew named President of Merit Travel Group’s wholesale, specialty leisure divisionslast_img read more

2nd annual Travel Trade Ski Day enjoys perfect weather conditions

first_img COLLINGWOOD — The travel industry headed to Collingwood, ON for a fun day on the slopes for the 2nd annual Travel Trade Ski Day, held at Georgian Peaks Ski Club.Sponsored by Travelweek and Softvoyage, the event was well attended by over 40 travel industry professionals and their guests. Collette Vacations also helped by sponsoring the coach ride to and from Toronto. All proceeds from the event will go to the Canadian Diabetes Foundation.The day provided an opportunity to embrace the great outdoors with skiing and snowshoeing activities. The weather cooperated with perfect conditions. The après ski socializing and networking were also big hits.“Having just completed our second Travel Trade Ski Day, we were really pleased with the turnout and having ideal weather conditions was the icing on the cake! Everyone had a fabulous time, lots of laughs, great conversations and catch up time,” said Annie Cicvaric of Travelweek. “New and exciting for the event this year was our partnership with the Canadian Diabetes Association which the Travel Trade Ski Day will support moving forward.”More news:  War of words between Transat, Group Mach ramps upTravelweek and Softvoyage would like to extend a big thank you to everyone who came out and made this a successful day! 2nd annual Travel Trade Ski Day enjoys perfect weather conditions << Previous PostNext Post >> Travelweek Group Posted bycenter_img Share Tags: Softvoyage, Travelweek Tuesday, February 14, 2017 last_img read more

All villas all luxury at the newest Fairmont resort

first_imgFairmont Maldives Sirru Fen Fushi is located at Shaviyani Atoll, North Maldives, accessible by domestic flight in 50 minutes from Male International Airport followed by speedboat from Hanimaadhoo Airport to the resort. Alternatively, guests can book a 50-minute scenic seaplane flight directly to the resort.More news:  AMResorts has a new Sr. Dir. of Cdn. Sales & Consortia Rel’nsAccorHotels today counts three hotels in the Maldives, including Mercure Maldives Kooddoo Resort, Dhevanafushi Maldives Luxury Resort and Fairmont Maldives Sirru Fen Fushi.Fairmont Maldives Sirru Fen Fushi is the sole hotel on the atoll and its previously untouched location has allowed marine life to flourish, with manta rays, turtles, large pods of bottlenose dolphins and spinner dolphins regular visitors in the crystal-clear waters of the 600-hectare lagoon.The nine kilometre-long house reef, directly accessible from the beach, is home to vibrant corals and an ecosystem teeming with life. There’s even a manta ray cleaning station at the house reef. Deluxe Beach Villa at Fairmont Maldives Sirru Fen Fushi The 120 villas are categorized based on the island’s stunning topography, and include Beach Villas, Water Villas, and Tented Jungle Villas. Copper bathroom fittings and carved wood detailing on furniture lend the villas a bohemian rustic chic vibe. Specially adapted to the Maldives, the unique tented jungle villas offer privacy and a romantic castaway feel; other guests can also experience the verdant island interiors with glamping BBQs or jungle cinema.More news:  Marriott Int’l announces 5 new all-inclusive resorts in D.R. & MexicoDining outlets include an international all-day dining spot called Raha Market; an over-water Japanese restaurant, sushi bar and sea lounge named Kata; and the overwater fine dining destination, Azure, where fresh seafood and fish-market displays of daily local catches are complemented by wines and champagnes.Meanwhile the resort’s on-site Willow Stream Spa at the Fairmont Maldives offers 2,000 square metres dedicated to wellness, plus there’s an Olympic-size Jacuzzi pool. Families are well-catered to with a Kid’s Club, toddler’s play garden, and the dedicated Teen Town.Introductory rates start at US$770 per villa per night on a bed-and-breakfast basis for bookings until Sept. 30, 2019.Grand Water Villa at Fairmont Maldives Sirru Fen Fushi Travelweek Group All villas, all luxury at the newest Fairmont resort Monday, May 14, 2018 Beach Villa at Fairmont Maldives Sirru Fen Fushilast_img read more