Sun Life suspending third-party sales of GMWB product

Share this article and your comments with peers on social media The combination of low interest rates and high capital requirements caused to insurer to put an immediate halt on the sales of its segregated funds, which wasn’t ideal but necessary, says Paul Fryer, vice president, individual business management for Sun Life Financial Canada, based in Waterloo, Ont. “We don’t like to suspend products and we always want to grow product sales through both sales forces — independent and career force, but it was necessary to take action with rising capital requirements.” The insurer is currently working with Toronto-based CI Financial Corp. to make modifications to SunWise’s existing product line-up, adds Fryer. “We are aiming to have a modified version of the funds available by the end of the year.” Sun Life is the fourth insurer to suspend its GMWB option this year. When offering clients a guaranteed minimum withdrawal benefit product, independent advisors will now have to cross Sun Life Financial Inc. off their list. As of May 11, Sun Life will be suspending new sales of its SunWise Essential Series, a segregated fund series with a GMWB benefit, through its third party advisor channels. Clients can still purchase the products through a Sun Life advisor. Insurers retooling retirement vehicles Olivia Glauberzon Empire Life reboots GMWB product Facebook LinkedIn Twitter Tackling longevity risk Related news Keywords Guaranteed Minimum Withdrawal BenefitCompanies Sun Life Financial Inc. read more

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Inflation falls to 1.2% in May

Statistics Canada says annual inflation tumbled to 1.2% last month, the lowest consumer price index reading in almost two years. Economists had expected the consumer price index to fall to 1.5% in May from the previous month’s 2% due to declining gasoline prices from a year ago. Gasoline prices did indeed fall in May, by 2.3% from last year at this time, the first year-over-year decline in 23 months. Companies Statistics Canada Facebook LinkedIn Twitter Meanwhile, Statistics Canada says decreases in women’s clothing and slower prices at auto dealerships were also factors. On a month to month basis, prices slipped 0.1% from April. Bank of Canada governor Mark Carney said this week that he expected prices to dip below the bank’s 2% target in the short term, given the recent tumble in world oil prices. In comparison, oil had been rising at this juncture last year. The softening trend in inflation removes most of the pressure on Carney to hike interest rates in the short term. Share this article and your comments with peers on social media Canadian Press read more

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Mixed credit implications from U.S. Treasury’s capital markets report: Moody’s

first_img Earlier this month, the U.S. Treasury Department published a paper setting out a series of reform recommendations, which aim to address an executive order from President Trump to reconsider financial regulation. The Treasury report, which represents the second of four planned reports, focuses on capital markets, including proposals dealing with market structure, securitization, derivatives, and financial market infrastructure. The likely impact on banks is mostly credit negative, the Moody’s report says. Additionally, proposed changes to address market structure issues, including “maker-taker” fee models and ‘payment for order flow’ practices, “may be credit negative for retail brokers, exchanges and high-frequency trading firms,” the Moody’s report adds. “Any resulting restrictions on payment for order flow arrangements could be credit negative for retail brokers that derive significant revenue from this source,” the Moody’s report says. The report also recommends “new guidance for the use of equity market data feeds and a review of whether exchanges should harmonize and streamline complex order types. These could be credit negative for high-frequency trading firms and cash equity exchanges.” Possible positive impacts from the proposals could flow from recommendations that may encourage increased central clearing of derivatives, and stronger oversight of central counterparty clearing houses, the Moody’s report notes. The latest set of proposed U.S. regulatory reforms would be largely negative banks, exchanges, and certain securities firms, but some of the proposals would likely have positive effects, suggests a recent report from Moody’s Investors Services. The outcome will depend on the details of any changes that are actually enacted in response to the recommendations, the report says. U.S. action on climate benefits banks, asset managers: Moody’s Share this article and your comments with peers on social media Related news High debt levels threaten banks’ strong results: Fitchcenter_img Keywords Banking industry,  United States G7 tax pledge may be upstaged by CBDC work James Langton Facebook LinkedIn Twitterlast_img read more

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Mayor Mckenzie wants Greater Input from Committee Members

first_imgMayor Mckenzie wants Greater Input from Committee Members UncategorizedJanuary 9, 2008 RelatedMayor Mckenzie wants Greater Input from Committee Members RelatedMayor Mckenzie wants Greater Input from Committee Members RelatedMayor Mckenzie wants Greater Input from Committee Memberscenter_img FacebookTwitterWhatsAppEmail Mayor of Kingston and St. Andrew, Senator Desmond McKenzie, has called for greater participation and accountability from councillors at the committee level.“Councillors must show greater interest and discipline in the committees. The people’s business comes first, and I am expecting to see a greater participation of councillors to committees,” he stated on (Jan. 8) at the swearing in of the 40-member Council at the offices of the Kingston and St. Andrew Corporation in downtown Kingston.Senator McKenzie informed that action is being contemplated against non-performing councillors, while the ban on cell phone usage at Council meetings, will now be extended to committee meetings.“One of the things that the committee that will be looking at the by-laws of Council will have to look at (is) where people are negligent in refusing to come to committee meetings, that. we can replace a non-performing councillor at the level of the committee,” he stated.He noted that the Council is “driven by committees” and that attendance at these meetings is even more important than the Council meetings.The Mayor at the ceremony, announced the members of the various committees, which will serve the Council.The Finance Committee will be chaired by Councillor Vernon McLeod of the Havendale Division; the Public Health and Disaster Preparation Committee will be chaired by Joel Levy of the Chancery Hall Division; the Civic Affairs Committee chair has been retained by Tosha Schwapp of the Stony Hill Division; and the Road and Traffic Committee will be chaired by Audley Gordon of the Hughenden Division.Deputy Mayor and Councillor for the Whitehall Division, Lee Clarke, will chair the Building Committee; the Commercial Services Committee will be chaired by Robert Williams of the Norbrook Division; while Neville Whittaker of the Gordon Town Division retains the Procurement Committee chair.The Trust Committee has a new chairperson in the form of Delroy Williams of Seivright Gardens; Cislyn Brown retains the chair for the Disciplinary Committee; while Mayor McKenzie also maintains chairmanship of the Establishment Committee.Lorna Leslie of the Denham Town Division returns as chair for the Poor Relief Committee; and Angela Brown-Burke of the Norman Gardens Division will chair the Oversight Committee. Mayor McKenzie will chair the General Purposes Committee, which comprises all the chairmen of the various committees.In the meantime, there are two new bodies – the Bipartisan Committee, which will hear the concerns of councillors, will be chaired by Mr. McLeod of Havendale, and the Properties and Investment Committee, which will be chaired by Councillor of the Red Hills Division, Answerd Ramcharan. According to Mayor McKenzie, the Properties and Investment Committee will “look at all the KSAC assets and will seek to increase the Council’s current revenue earning capacity”. Advertisementslast_img read more

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Government to Spend Over $200m on Basic Schools

first_imgRelatedGovernment to Spend Over $200m on Basic Schools Government to Spend Over $200m on Basic Schools EducationApril 10, 2009 FacebookTwitterWhatsAppEmail A project aimed at enabling young children to learn and develop optimally, will receive $228.5 million in the 2009/10 Budget.According to the Estimates of Expenditure for the new fiscal year, the Enhancement of Basic Schools project, supported by the Caribbean Development Bank (CDB), was initially slated to run from 2002 to 2006, but that deadline has been revised twice, with the latest completion date set for December, 2009.Anticipated targets for 2009/10 are: completion of the Shortwood Infant department, and construction of the Arthur Wint Basic, St. Francis Practising, Nain Basic and the Foga Road Basic schools, as well as the Hanover, Clarendon and St. Elizabeth resource centres.There are also plans to furnish and equip the Fern Grove and Shortwood basic schools, and to complete New Learning Environment consultancies.Some of the major achievements under the project so far are: the completion of island wide sensitisation workshops on the New Learning Environment, NCTVET Level II training of 680 early childhood practitioners and NCTVET Assessors training for 80 Education Officers.Construction activities are also at varying levels of completion at several early childhood institutions, while there has been verification of 2,700 institutions. In addition, registration and legal and regulatory framework consultancies are 80 per cent complete, while nine early Childhood officers have completed fellowships granted under the project.The entire project is expected to cost more than $755 million, of which the CDB will provide over $637.7 million and the Government of Jamaica the remainder. RelatedGovernment to Spend Over $200m on Basic Schoolscenter_img RelatedGovernment to Spend Over $200m on Basic Schools Advertisementslast_img read more

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Canada COVID-19 Update for Indigenous Peoples and communities 12 March

first_imgCanada COVID-19 Update for Indigenous Peoples and communities 12 March From: Indigenous Services CanadaIndigenous Services Canada (ISC) is closely monitoring the number of COVID-19 cases reported in First Nations communities across the country. Overall, active case counts continue to decline, with 1,123 active cases reported as of March 10, 2021.Indigenous Services Canada (ISC) is closely monitoring the number of COVID-19 cases reported in First Nations communities across the country. Overall, active case counts continue to decline, with 1,123 active cases reported as of March 10, 2021.This week marks one year since the World Health Organization declared the coronavirus a global pandemic. Communities all across the country have been overwhelmingly impacted over the course of the last year. But despite the challenges, Indigenous Leadership has played a critical role in ensuring community members have the information and resources needed to stay healthy and combat COVID-19.First Nations, Inuit, and Métis have demonstrated strength, resilience and courage throughout this year and that must be celebrated and acknowledged. Health care workers and front line staff have been at the centre of efforts to respond and prevent the spread of the COVID-19 virus for the past year. The Government of Canada continues to thank everyone for their efforts and dedication to save lives.While we have made tremendous progress, it is critical that everyone continue with physical distancing, wearing masks, avoiding gatherings and non-essential travel, staying home when sick, get the COVID-19 vaccine when possible, and keeping up with frequent hand washing, cough and surface hygiene. The combination of all these public health measures are required to stop the spread of the virus.In First Nations communities, as of March 10, ISC is aware of:22,581 confirmed positive COVID-191,123 active cases21,208 recovered cases250 deathsThere is a total of 48 confirmed positive cases in Nunavik, Quebec, with only six of those being active. As of March 9, the Government of Nunavut is reporting 23 active cases in the Kivalliq Region, and a total of 381 confirmed cases of COVID-19 since the beginning of the pandemic. Of the 381 reported cases, 357 people have recovered from the virus.As of March 3, 2021, more than 2.9 million Moderna and Pfizer vaccines have been distributed across the country. As of March 9, 2021, 162,155 doses have been administered in 536 communities, with a 53 per cent dose administration rate among adults in First Nations and Inuit communities in provinces and Indigenous and non-Indigenous adults in the territories.There are now four COVID-19 vaccines authorized for use in Canada. The vaccines by Pfizer-BioNTech, Moderna, AstraZeneca, and Johnson & Johnson will be available to everyone in Canada who is recommended to receive it by federal, provincial and territorial public health authorities this year.In line with the National Advisory Committee on Immunization’s recommendations, all Indigenous adults, including First Nations, Inuit and Métis, are recommended to be prioritized for COVID-19 vaccinations as soon as possible. The Government of Canada is working with provincial and territorial governments to allocate, distribute and administer vaccines as efficiently, equitably and effectively as possible.We are also continuing to support the vaccine roll out for Indigenous adults living in urban cities and towns across Canada. For example, cities across British Columbia have started booking appointments for Indigenous People 65 years of age and older. And of note, Chatham-Kent, Ontario will start offering COVID-19 vaccination appointments to Indigenous adults starting this week as well. First Nation, Inuit, Métis and urban Indigenous people who are over 16, as well as their immediate household members will be eligible.ISC is also working with the Public Health Agency of Canada, Health Canada and Public Services and Procurement Canada to identify and address any unsolicited offers of COVID-19 vaccine for sale to Indigenous communities that are deemed suspicious. Public Services and Procurement Canada, on behalf of the Public Health Agency of Canada and based on advice from the Vaccine Task Force, leads negotiations and finalizes agreements with vaccine manufacturers. This ensures the legitimacy of all vaccine products coming into Canada, and further ensures everyone in Canada, including First Nations, Inuit and Métis, can have confidence in the authenticity and safety of the vaccines being provided to them. Vaccine orders are confirmed by provinces and territories to the Public Health Agency Vaccine Rollout National Operations Centre (NOC). Shipments of doses from manufacturers to Canada and select destinations across all provinces and territories are then coordinated and monitored through NOC to ensure the safety and security of all deliveries.ISC is also working with partners to help dispel some inaccurate information that has been circulating to certain communities about fraudulent offers and false and distorted information about side effects. The spread of misinformation can have real consequences and can distort people’s behaviours and decision-making. It is important to look for current and up to date information from trusted sources, and to consider the source of information before spreading or sharing articles of facts. Trusted information includes that from federal, provincial and territorial health authorities, community health centres, nursing stations or local healthcare providers.A number of federal partners, including the Public Health Agency of Canada, the Canadian Armed Forces (CAF), ISC and the Royal Canadian Mounted Police, continue to work in collaboration with communities, provinces and territories in an effort to assess on-going community needs, and supports. This week, the CAF will deploy to Mathias Colomb Cree Nation in Manitoba to assist the community with their COVID-19 response. This is in addition to the many First Nations communities that the CAF has supported in recent months with managing COVID-19 outbreaks and facilitating vaccine distribution. In Ontario, Weeneebayko and ORNGE, who are leading Operation Remote Immunity, are currently administering second doses in a number of communities. ISC is also exploring with First Nations and provincial partners where there may be an interest in partnership opportunities with the CAF to expand capacity for logistics support and accelerate the administration of vaccines.As vaccines continue to roll out across the country, we remain thankful for all healthcare workers, nurses, Doctors, Indigenous leadership and countless others, who are playing a critical role in helping communities through the COVID-19 pandemic. /Public 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:British, Canada, community health, coronavirus, Government, health, healthcare, Indigenous, leadership, Pfizer, public health, Public Service, resilience, Suspicious, vaccination, World Health Organizationlast_img read more

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Motor Mouth: Harley-Davidson is going electric – and adventure touring, too

first_img ‹ Previous Next › Handout / Harley-Davidson Besides the expected marketing bump – there will be a complete overhaul of the current retail network here in Canada – there is news of “broader access” to new riders through newer, urban-focused “pop-up” outlets. Think New York City’s Union Garage or, closer to home, Toronto’s Studio Cycle.Mostly focused on apparel and “lifestyle” gear, these urban outlets will probably feature Harley’s LiveWire/Revelation electric bike when it arrives and could possibly even retail some of Milwaukee’s smaller-displacement machines as well. This will be just part of the move to address younger customers who, as Harley-Davidson sees it, are the forefront to its “digitally-influenced sales growth.”Speaking of smaller displacements, the revelation – there’s that word again – North America is a mature market has finally reached Milwaukee, and there will be a forthcoming range of 250- to 500-cc machines destined for Asia.They will be first introduced in India and then sales will branch out to other emerging markets. We have no technical details or any idea what these bikes will look like but do know that Milwaukee will partner with an existing manufacturer from the Far East.OK, now to the big news. Thanks to an entire new range of V-twin engines that will displace anywhere between 500 and 1,250 cc, Harley will, in short order, unveil a Pan America adventure tourer – yes, a Harley-branded competitor to BMW’s iconic GS – a 975-cc Streetfighter (think Triumph Speed Triple here) and a 1250 Custom (forget the boring name, this thing is the full “steampunk”).Created with Raphaël 2.1.2Created with Raphaël 2.1.2The Harley-Davidson Pan America adventure tourer. Trending in Canada advertisement Handout / Harley-Davidson You know something huge is afoot when the revelation Harley-Davidson is about to launch a production version of its LiveWire electric motorcycle prototype is not the biggest news out of Milwaukee this week.But that is indeed the case. The Motor Company’s “More Roads to Harley-Davidson” growth plans to 2022 are a real Revelation.(In case you’re wondering why I’m repeating myself, it’s not early doddering disease but the fact the first electric Harley is expected to be renamed the Revelation). We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. Created with Raphaël 2.1.2Created with Raphaël 2.1.2 The production version of the Harley-Davidson LiveWire, which likely be renamed Revelation.  Handout / Harley-Davidson Whatever the source of its future revenues, or exactly what the company’s portfolio may look like in five years, this is nonetheless, according to Karen Mayberry, Harley-Davidson’s consumer experience and public relations lead, “the most transparency Harley-Davidson has ever given into its future product portfolio.”And what a portfolio it is. Like I said, when your least exciting news is a whole new line of electric motorcycles, you’ve got my attention. I can’t wait to throw a leg over the Pan America. RELATED TAGSHarley-DavidsonMotor MouthFeature StoryMotor MouthNew Vehicles Buy It! Princess Diana’s humble little 1981 Ford Escort is up for auction An engagement gift from Prince Charles, the car is being sold by a Princess Di “superfan” COMMENTSSHARE YOUR THOUGHTS As for Harley’s electric motorcycle revolution, besides the LiveWire/Revelation intro in 2019, Milwaukee is promising a complete lineup of battery-powered “twist and go” electric two-wheelers, that may or may not, according to the Los Angeles Times, include some electric scooters for that expanding Far Eastern market.All told, it looks like this revamp will cost Harley as much as three-quarters of a billion bucks – funded, says the company, by cost savings and increased capital investment – but the company projects it will “generate more than $1 billion of incremental annual revenue in 2022 as compared to 2017.”Now, one can say some of this expansion has been a long time coming. Indeed, those less kind might point to Harley’s tepid sales here in North America – second-quarter sales are, for instance, down 6.4 per cent from the same period in 2017 – as the necessity that was the mother of these inventions. Indeed, in part of the presentation that Milwaukee’s management made to international investors, they see international business soon growing “to 50 percent of annual volume.” Handout / Harley-Davidson No details are available yet but from what we can see, the Pan America is the real deal, powered by a double-overhead-cam four-valve narrow-angle V-twin – a 1250 will be initially available in 2020 but a 975-cc version follows in 2021 – complete with radially-disposed four-piston Brembo brakes and some truly serious knobby tires.The two-part front windshield looks to be electrically-operated and the seat, unlike the multi-contoured perches in its cruiser, is simple, broad and flat. Besides the off-road tires, a robust skid plate and substantial crash bars would seem to indicate the Pan America is meant for serious bush-bashing. As an avid adventure touring bike enthusiast, this thing has got me more than a little hot under the collar.Created with Raphaël 2.1.2Created with Raphaël 2.1.2The new “steampunk” Harley-Davidson Custom. As for the Custom, it is pure steampunk. For those of you who don’t read “graphic novels” – that’s “comic books” to you and I – the Oxford dictionary defines “steampunk” as “a style of design and fashion that combines historical elements with anachronistic technological features inspired by science fiction.” You and I might call it vintage with a Roland Sands twist. Whatever the appellation, there are the de rigeur high pipes, a truly butch rear swing arm and enough attitude to get you sent home from school.The Streetfighter, meanwhile, is a little more traditional: Think Triumph Speed Triple meets V-Rod, here, with just a twist of Ducati Hypermotard and you have an idea of what HD is after. Whatever the look, this is a serious foray into motorcycling’s second hottest market (after adventure bikes).Created with Raphaël 2.1.2Created with Raphaël 2.1.2The Harley-Davidson Streetfighter.last_img read more

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Green (64) holds one-shot lead at Czech Masters

first_imgVYSOKY UJEZD, Czech Republic — Gavin Green of Malaysia shot an 8-under 64 for a one-shot lead after the opening round of the Czech Masters on Thursday. Hoping to become the first Malaysian to win a European Tour trophy, Green birdied eight of the first 12 holes to top the leaderboard. He bogeyed the 13th but returned to the leading position with a last-hole birdie at the Albatross Golf Resort near Prague. He also shared the lead last year after matching the course record with an opening 64. ”I don’t know what it is about this place,” Green said. ”The course suits me well and it helps if you hit it a little longer and a little higher. It helps to be able to stop the ball on the greens. If you get a good drive away you just have a wedge in your hand and you can take advantage of that.” Full-field scores from the D+D Real Czech Masters Erik van Rooyen and Lee Slattery shot 7 under to tie for second. South Africa’s Van Rooyen had a bogey-free round with seven birdies while Englishman Slattery finished with an eagle, six birdies and a bogey. Edoardo Molinari was among six golfers tied for fourth after a round of 66. Defending champion Andrea Pavan of Italy was two strokes behind them. Multiple major winners Ernie Els and Padraig Harrington, former world No. 1 Lee Westwood, and Eddie Pepperell, the highest ranked player at the tournament at No. 41, all carded 1-over 73.last_img read more

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On Tap: Andre Floyd, Whitefish Mountain Films and Ice Skating Show

first_img Email Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Live Music:Friday: A Musical Dreamtime Journey at Community United Methodist Church; Carla Green at Symes Hot Springs Hotel; Electro Flux at Craggy Range; Friday Night Live at Blue Canyon; Kniption Fit at Great NorthernSaturday: Live Classic Country Music at Eagles Lodge; Jarod Kerney at Starbucks; Andre Floyd and David Griffith at Blacktail Mountain Resort; Cid Wolstein at Borders Books; Roustabout at Belton Chalet; Good Wood Duo at The Lodge at Whitefish Lake; Off in the Woods at The Boiler Room; Jeni Fleming Band at Whitefish Performing Arts Center; Larry Hirshberg at Symes Hot Springs Hotel; Chicharones at Craggy Range; Kniption Fit at Great NorthernArts and Events:Friday: Chef’s Table at FVCC; The Christmas Post at Christian Center; The Secret Garden at The O’Shaugnessy Center; A Christmas Carol at Bigfork Center for the Performing ArtsSaturday: Christmas Bake and Craft Sale at Lakeside Mercantile; The Zone Family Fun Center Grand Opening; Bigfork Christmas Bird Count; Carriage Rides and Santa in downtown Bigfork; Santa Paws at Bigfork Station; Whitefish Mountain Films presented by BlueBird Guides at Crush Wine Bar; The Christmas Post at Christian Center; Whitefish Figure Skating Club’s Ice Show at Stumptown Ice Den; The Secret Garden at The O’Shaugnessy Center; A Christmas Carol at Bigfork Center for the Performing ArtsFor a full listing of times and other events, go to www.flatheadevents.net. last_img read more

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