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The Globe and Mail •

Seller’s market for advisor books of business persists as many still put off retirement

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Despite high borrowing costs and an aging cohort of advisors, the market for advisors’ books of business remains tilted in favour of sellers.

George Hartman, president and chief executive officer of Market Logics Inc. in Toronto, says the value of a book of business has more or less held steady for the past six years.

Mr. Hartman says it’s a simple case of supp...
The Globe and Mail •

In year two of the FHSA, how and where should Canadians invest?

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Ryan Ferguson took to social media to deliver a message in late 2023: Canadians who are eligible to open a tax-free first home savings account (FHSA) before the end of the year should do so.

Mr. Ferguson, a financial advisor and insurance broker with World Financial Group Inc. in Toronto, says those who are only opening their FHSAs this year have already missed
The Globe and Mail •

Tax refunds are rolling in. Where should the money go this year?

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As Canadians receive their annual tax refunds, advisors recommend they focus on paying down debt and building up their savings.

As of June 3, the Canada Revenue Agency (CRA) had put more than $38-million back in Canadians
The Globe and Mail •

What to consider before co-owning a home

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For many Canadians not already in the housing market, the dream of home ownership can seem just like that. But some who would otherwise be priced out of real estate are finding creative ways into the market, such as co-own
CCentral •

'We’re in crisis mode'

The Manitoba government’s temporary pause on the approval of some new cannabis retail outlets has left some retailers in peril as they wait in limbo for approval to open their doors.

Manitoba-based c-store and gas retailer, Domo Corporation Ltd., had been working for almost a year to outfit some of its retail locations for the sale of cannabis. The c-store and gas station entered into an agreement in June last year to sell Wowkpow Inc. cannabis products at its stores.

Since then, the retailer
The Globe and Mail •

Kids Help Phone launches initiative for Black youth

Kids Help Phone is launching a new initiative, RiseUp, that aims to provide more culturally informed and accessible mental-health services to Black youth across the country.

The services include free wellness support that Black youth can access 24/7 by texting RISE to 686868, the Kids Help Phone number.

“When youth text RISE to that number, they will be paired with a crisis responder that knows the youth is Black and can give them services that are tailored to them,” said Barbara Ukwuegbu, the
The Globe and Mail •

JAMP Pharma Group to acquire 100,000 square feet of Pharmalab Inc. manufacturing space

Quebec-based JAMP Pharma Group says it will acquire a large manufacturing facility in the province in a bid to boost pharmaceutical production in Canada, which is faced with thousands of drug shortages.

The purchase from Pharmalab Inc., announced Thursday, is pending approval by the Superior Court of Quebec. It is set to add more than 100,000 square feet of manufacturing space to the portfolio of JAMP, which hopes to repatriate the production of more than 100 different new generic drugs in the
The Globe and Mail •

Google launches AI chatbot Gemini in Canada after long delay

Google Inc. has launched its AI chatbot in Canada after a delay tied to the company’s standoff with Ottawa over online news.

On Thursday the search giant expanded the rollout of Gemini, formerly known as Bard, to Canada after excluding Canadian users from its chatbot’s “biggest expansion” – to more than 230 countries, in more than 40 languages – in July. Canadians can now access Gemini in both English and Québécois French.

“Our team in Canada was still working to find a constructive resolution
The Globe and Mail •

Pok Pok app provides a ‘non-addictive’ virtual experience for young children

When Esther Huybreghts and husband Mathijs Demaeght began developing Pok Pok in 2019, the new parents were aiming for an app that would both entertain and stimulate their toddler creatively.

“There was nothing on the market that could give our kid both,” says Ms. Huybreghts, chief creative officer and co-founder of the Toronto-based kids educational app company.

The iOS app, which launched in May, 2021, features “digital toys” for children aged 2 to 7 and was created with Montessori principles
The Globe and Mail •

4AG Robotics raises $17.5-million in financing for mushroom-harvesting robots

Mushroom farms in Canada are taking on new workers: robots.

Salmon Arm, B.C.-based 4AG Robotics develops fully automated solutions for mushroom harvesting in Canada and globally, and has raised $17.5-million in equity financing to further its quest. The company’s chief executive, Sean O’Connor, says the company’s name – pronounced “forage” – reflects its novel focus.

The equity financing is led by the Business Development Bank of Canada’s Industrial Innovation Venture Fund, a $250-million fund
The Globe and Mail •

Alberta moves to legalize use of ‘software engineer’ title, ending lengthy battle between regulators, tech firms

The government of Alberta is moving to legalize the use of the title “software engineer” for technology companies, ending a lengthy battle between regulators and tech companies in the province.

The move was welcomed by the tech industry, which has been lobbying to be able to use the term.

Bill 7, a proposal to amend the Engineering and Geoscience Professions Act, which was tabled on Monday, would allow tech companies to use the “software engineer” title to attract and retain talent.

“We’re gl
The Globe and Mail •

Non-profit aims to bridge gap between Black health-care professionals and patients

Despite completing a master’s degree in clinical psychology two years ago, Myriam Georges-Estigène was struggling to find permanent work. So in April, she decided to take matters into her own hands and start her own clinic.

To help get the word out, Ms. Georges-Estigène, an Ottawa-based Black psychotherapist, listed her private practice, Peace by Piece Counselling and Psychotherapy, on the Black Healthcare Professionals Network’s directory. This public database of Black doctors and health care
The Globe and Mail •

Ontario small-business owners grappling with ‘overwhelming stress’ over effects of COVID-19 pandemic

Small-business owners in Ontario are struggling in a mental-health “echo pandemic” and lack the resources to deal with employee and self-burnout, a report from the Ontario Chamber of Commerce has found.

Mind the Gap, released on Tuesday, examines the economic effects of COVID-19 and how a lack of mental-health program funding has affected small businesses.

“Many of the small-business owners in the chamber network feel that they have been left on the front lines of the mental-health crisis afte
The Globe and Mail •

Majority of racialized Canadian employees have faced workplace racism during their careers, study shows

The majority of racialized Canadians have experienced racism at work, including workplace harassment and professional inequities, a new study shows.

The study by global advocacy group Catalyst surveyed more than 5,000 racialized and ethnic women, men, transgender and non-binary employees in Canada, Australia, New Zealand, South Africa, Britain and the United States. It showed that 66 per cent of people surveyed have experienced racism in their career, with 54 per cent of workers reporting that
The Globe and Mail •

Spin Master to buy toy maker Melissa & Doug in US$950-million deal

Spin Master Corp. TOY-T said it will acquire U.S.-based toy maker Melissa & Doug for US$950-million, the largest takeover in the company’s history.

“We have admired Melissa & Doug for many years,” said Spin Master chief executive officer Max Rangel at a news conference at the company’s Toronto headquarters on Wednesday.

Spin Master – which courted the wooden toy maker from parent company AEA Investors – will finance its acquisition with approximately US$450-million in cash and US$500-million i
The Globe and Mail •

Uber driver’s $4.5-million in COVID aid reaches Ontario courts, shedding light on potential abuse of the system

A Toronto Uber UBER-N driver had his bank accounts frozen after the bank became concerned that he inappropriately received more than $4.5-million in COVID-19 aid, according to a recent Ontario court case that sheds light on how unprecedented emergency-relief programs designed to offer businesses a lifeline during the height of the pandemic were abused by some recipients.

Justice Michael Penny of the Ontario Superior Court of Justice ruled that Bank of Nova Scotia BNS-T was right to freeze Rabih
CCentral •

Delivering change: Marc Goodman of 7-Eleven Canada

7-Eleven is a company built on innovation and changing to meet the needs of its customers. From its earliest days, debuting as an icehouse in Dallas, Texas in 1927, it expanded to 16 locations where customers also could purchase milk, eggs and bread (at the suggestion of an astute employee), eventually evolving into one of the largest retail brands in the world with some 83,000 c-store and gas locations across 19 countries. Recent activity at 7-Eleven Canada reflects the evolution of the company
CCentral •

Shell profits plunge in second-quarter

Shell PLC reported its second-quarter results last Thursday, with earnings of approximately $5.1 billion for the quarter, down a whopping 56% from $11.6 billion last year.

Earnings were also down from $9.6 billion in the first quarter.

“Our financial results were impacted by lower commodity prices, planned maintenance,” said Wael Sawan, CEO of Shell PLC during the company’s second-quarter results presentation webcast.

The British energy company says that its lower earnings followed lower oil
CCentral •

Growing east

The team at Canco Petroleum Ld. is gearing up for June 29. Almost daily, since March 2, the company’s Facebook, LinkedIn and Instagram have featured colourful images of its many locations across Canada. From the smiling face of a location manager at 228 Tranquille Rd. in Kamloops, B.C., to a yard of ruby-red tractors behind a clean forecourt in Wynyard, Sask., the photos have one thing in common: the proud blue-and-orange colours and maple leaf of Canco’s logo.

“We’re doing a countdown to site
CCentral •

A greener wash

Velocity Water—another company under the Sonny’s umbrella–is also producing water reclamation systems that Harkins says can help operators recapture and reuse 50 to 60% of the water their wash uses. The company is steadily working on a new system that can reuse up to 70 to 80% of water, but the system is still under development and testing. Harkins says that one of the biggest challenges in water reclamation is trying to remove the dyes/colours that are used in soap.

Transchem has also stepped
CCentral •

Highlights and photos from the 2023 Convenience U CARWACS Show

The Convenience U CARWACS Show made a big return March 7 and 8: After a three-year hiatus, the event returned to its original March time slot. This years’ show welcomed more than 50 new exhibitors, who joined industry staples in showcasing innovative new products and equipment. This year, Canada’s event for convenience, gas and car wash was at the International Centre in Mississauga, Ont. It offered unique education, a buzzing trade show and the chance to rub shoulders with the people important
Canadian Rental Service •

Faith in Rental

Don (centre) is proud of the young talent he has involved at Pat’s Rent-All. His son, Joel, (right) is already taking over many of the day-to-day tasks. Micah Tudhope works at the store full-time, as well. All Photos: Courtesy of Pat’s Rent-All staff.

There are many beginnings to the story of Pat’s Rent-All. The first takes place in fall, 1969, when Pat’s Rent-All was established. At the time, the rental company called 800 square feet on Harwood Ave. in Ajax, Ont., home.

Nearly a decade later,
Investment Executive •

Freedom of product choice still ranks high

One related category, “Quality of product offering,” also remained one of the top-10 best-performing and most important. That category was rated 8.8 and 9.3, for performance and importance, respectively, compared with 8.7 and 9.4 two years ago.

In both areas, the ratings of the managing general agencies (MGAs) outpaced those of the three dedicated sales agencies (DSAs). The four MGAs each received near-perfect product freedom results, with both IDC Worldsource Insurance Network Inc. (IDC WIN) a
Investment Executive •

Flexible work policies paid off for banks

TD, which received a pandemic support rating of 8.5., was already focused on technological innovation when the pandemic struck, said David Terry, vice-president and head, TD Wealth Financial Planning.

“By March 2020, we had actually enabled all of our financial planners and advisors across the wealth advice channel to work off of [Cisco] WebEx using e-signatures,” Terry said.

Prior to the pandemic, only 20% of TD Wealth Financial Planning’s advisors were able to work remotely. But from March t
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