November 25, 2019

Bill C15 Banks Bail In – 50 Million To Mandela

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Federal Government Introduces Bail-In Legislation: Bill C-15

On April 20, 2016, the Canadian federal government introduced Bill C-15, which is legislation that provides for, among other things, a bank recapitalization or “bail-in” regime for domestic systemically important banks (“D-SIBs”).

BAIL-IN

For those unfamiliar with this feature of financial services regulatory reform, the basic concept of bail-in is that certain stakeholders of a bank that finds itself in the remote circumstance of being in severe distress will be required to support the viability of such a bank by mandatory conversion of their respective instruments into the common equity of the bank. This mandatory conversion would occur upon a regulatory determination that triggering such conversions will absorb losses and that, together with such other measures as regulators may determine to be necessary, such conversions will be sufficient to re-establish the viability of such a bank.

https://www.mccarthy.ca/en/insights/articles/federal-government-introduces-bail-legislation-bill-c-15

P.E.I. minimum wage to hit $12.85 an hour in 2020

P.E.I.’s minimum wage will increase by 60 cents to $12.85 per hour on April 1, 2020.

The current minimum wage of $12.25 an hour came into effect in April of this year.

Ole Hammarlund, the Official Opposition critic for economic growth, said in a statement the increase is “a step in the right direction.”

“While the increase is clearly not a living wage, any investment that lifts Islanders is good.”

The Employment Standards Board reviews minimum wage annually and provides its recommendation to government after the review is complete.

https://www.cbc.ca/news/canada/prince-edward-island/pei-minimum-wage-increase-1.5353689

Trudeau criticized for tweet to Trevor Noah pledging $50M charity gift

Canada will contribute $50 million to a global charity for children’s education, Prime Minister Justin Trudeau tweeted to comedian Trevor Noah, a pledge that quickly drew criticism both for its content and its form.

Celebrities gathered in Johannesburg on Sunday for the Global Citizen Festival: Mandela 100, a charity concert honouring Nelson Mandela a century after he was born.

Trudeau tweeted to Noah, who is hosting the festival, that Canada would give the money to Education Cannot Wait, an organization that funds education for children affected by conflicts, natural disasters and other crises.

https://www.cbc.ca/news/politics/trudeau-trevor-noah-money-1.4930216

INSANE: Trudeau Gives Away $50 MILLION In Canadian Taxpayer Dollars To Make Celebrity Think He’s Cool

Justin Trudeau has just promised to give away $50 MILLION more in Canadian taxpayer dollars.

This time, he did it to look cool in front of a celebrity.

Here’s what Trudeau tweeted:

“Hey @Trevornoah – thanks for everything you’re doing to celebrate Nelson Mandela’s legacy at the @GlblCtzn festival. Sorry I can’t be with you – but how about Canada pledges $50M to @EduCannotWait to support education for women & girls around the world? Work for you? Let’s do it.”

https://www.spencerfernando.com/2018/12/02/insane-trudeau-gives-away-50-million-in-canadian-taxpayer-dollars-to-make-celebrity-think-hes-cool/

The Trump Organization is looking to sell the Trump Hotel in Washington for $500 million

The Trump Organization is “exploring” selling the rights to the Trump International Hotel in Washington, Eric Trump, the president’s son and an executive vice president of the Trump Organization, told The Wall Street Journal in a Friday report.

“Since we opened our doors, we have received tremendous interest in this hotel and as real-estate developers, we are always willing to explore our options,” the younger Trump told The Journal in a statement.

https://www.businessinsider.com/the-trump-organization-exploring-selling-the-trump-hotel-in-dc-2019-10

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