New high-interest savings fund from CI

first_img Related news IE Staff BMO InvestorLine launches commission-free trading for ETFs Keywords Mutual funds,  ETFs,  High-interest savings accountsCompanies CI Financial Corp. Businessman check seriously analyzes a finance report investor colleagues discussing new plan financial graph data. bank managers task. Concept business and finance ,Account analyzes planing yozayo/123RF Purpose looks to fill retirement income gap with longevity fund Share this article and your comments with peers on social media Toronto-based CI Investments Inc. is introducing a mutual fund to invest in its recently launched CI First Asset High Interest Savings ETF.The ETF, which invests primarily in high-interest savings accounts with a yield of approximately 2.10%, started trading on the TSX in June. The management fee on the Class F mutual fund is 0.14%, the same as for the ETF, CI said in a release. Facebook LinkedIn Twitter The mandate and investment objective for the two products is the same. IG Wealth amends product shelflast_img read more

Investigation Surrounding Fatal Motor Home Fire Continues

first_imgNeighbors of the family whose motor home burned down on Oct. 1 met with the Flathead County attorney and the Flathead County sheriff this week to discuss concerns with the ongoing investigation.Eight-year-old Autumn Hawk died in the fire, which occurred at 425 Daley Ln. near Foys Lake, west of Kalispell. Her parents were able to escape the fire.The fire investigation team looking into the incident reported on Oct. 8 that due to the hot, fast nature of the blaze, there wasn’t enough evidence to identify a cause. An autopsy determined that Hawk died of smoke inhalation and burns. Her body was found outside the motor home’s door.A group of neighbors, other residents, and activists approached the county attorney’s office and the sheriff about their concerns with previous observations of the property and its inhabitants.The meeting with the county attorney’s office took place on Oct. 13. Instead of a single discussion, each neighbor was interviewed by a local prosecutor, a representative from the state Department of Public Health and Human Services (DPHHS), and an administrator from the Child and Family Services Division.Jon Ebelt, spokesperson for DPHHS, said the additional CFSD staff attended the meetings at the request of the county attorney’s office.On Oct. 16, neighbors again met with Flathead County Sheriff Chuck Curry about their concerns, which ranged from potentially illegal activity on the property prior to the fire to procedural questions regarding the investigation.After the Oct. 16 meeting, Curry said in an interview that the investigation into what happened at 425 Daley Ln. is still ongoing, and investigators are conducting “a lot” of interviews in reference to this case.“It warrants investigation; we had had numerous law enforcement responses to that location in the past,” Curry said. “When there is no physical evidence that is available to look at as to the cause of the fire, we have to go to interviews.”There have been some developments in the case, Curry said, and investigators are following up on information. He also said he understands that people want to know what is happening, but his office can’t reveal all the details of an investigation to the media without hampering said investigation.“We certainly attempted to reassure (the neighbors) that we do know what we’re doing, and they have to at least trust that we’re not incompetent and we take this very seriously,” Curry said. “Our goal was to address their concerns without making it harder to do our investigation.” Stay Connected with the Daily Roundup. Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox. Emaillast_img read more

Hudson Pacific studio revenue takes hit

first_imgFull Name* Message* Hudson Pacific Properties CEO Victor Coleman and Sunset Las Palmas Studios (Google Maps, iStock)Hudson Pacific Properties achieved a major milestone this summer when it sold Blackstone Group 49 percent of its $1.65 billion Hollywood real estate portfolio, which includes 1.2 million square feet in soundstage space — a fifth of L.A. County’s supply.The deal represented a bet on the long-term growth of content creation for streaming services. But for now, HPP’s studio properties are suffering through the pandemic. Same-store net operating income in the company’s studio portfolio was down 40 percent year-over-year in the third quarter, and down 9 percent at its office holdings.But HPP is hopeful that the tide is turning.“Ongoing shutdowns have to date slowed a West Coast recovery, but we’re starting to see some positive momentum with the easing of restrictions for non-essential businesses in San Francisco and schools in Los Angeles,” CEO Victor Coleman said in a statement ahead of Friday’s investor call.On the rent collection front, HPP’s figures held strong with about 97 percent of combined contractual rents collected in the third quarter, including 98 percent of office rents, 100 percent of studio rents and 52 percent of storefront retail rents, roughly on par with the prior quarter.Read moreQ2: Hudson Pacific is effusive about Blackstone deal, defensive about office spaceInside Hudson Pacific and Blackstone’s field of streamsHere’s what Netflix, Disney and CBS pay for their Hollywood digs According to a TRD analysis, the real estate investment trust’s studio properties generate a significant amount of income from sources other than base rent, such as the rental of lighting and grip equipment and control rooms. In the third quarter, revenue at HPP’s studios dropped 30 percent year-over-year — and operating expenses 21 percent — because of the slowdown in production activity.A dip in office revenues, meanwhile, was driven not only by missed rent payments but also factors like the conversion of WeWork’s lease at Maxwell in the Arts District to a percentage-rent structure.The REIT signed leases totaling 185,000 square feet in the quarter, up from 110,000 in the prior quarter. Of that total, 36,800 square feet came from short-term extensions related to the pandemic.The company inked one major new lease with Google for 42,000 square feet at San Francisco’s Rincon Center, with 35,000 square feet commencing in October and the rest in late 2023. The tech giant has said it will allow all employees to work remotely until at least July.HPP also announced a major development milestone in the quarter, as the Harlow — a 106,000-square-foot office development at Sunset Las Palmas Studios — received its final certificate of occupancy. However, the company’s financial disclosures show that the estimated stabilization date for the project has been pushed back by more than a year, from the third quarter of 2021 to the fourth quarter of next year.“With a fortified balance sheet, over $1.3 billion of liquidity and well-aligned, well-capitalized joint venture partners, we’re still optimally positioned to operate and grow our platform strategically and effectively through the pandemic and beyond,” Coleman said.Contact Kevin Sun Email Address*center_img Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink TagsOffice LeasingREITSlast_img read more

Chart Industries completes acquisition of GOFA

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

UTC in Mexican power move

first_imgThe consignment was shipped into Mexico from South Korea and Europe, where UTC coordinated the overland delivery to the job site.In total, 17 heavy lift cargoes, including a 179-tonne engine section (pictured), were transported to the site on hydraulic trailers, as well as 14 truckloads of accessories. www.utcoverseas.comlast_img

Fear of Cargo Cartel triggers probe into ‘Super Alliance’

first_img(Image Courtesy: Hong Kong Maritime Hub) Hong Kong’s competition watchdog has opened an unprecedented investigation into whether a new “super alliance” between four of the five operators at one of the world’s busiest container ports breaches antitrust regulations.The powerful business conglomerates running Kwai Tsing Container Terminals are now under official scrutiny, with the government demanding answers after the announcement on Tuesday that they were forming the Hong Kong Seaport Alliance, which would hold a 95 per cent market share at the port.The Competition Commission on Thursday said it was investigating the alliance “as a matter of priority”, while other players in the trade and logistics industries raised an outcry that it would monopolise the container trade, the lifeblood of business in the city.The new group, formed by Hongkong International Terminals (HIT), COSCO-HIT Terminals, Asia Container Terminals and Modern Terminals, will jointly operate and manage 23 berths across eight terminals at Kwai Tsing in the New Territories.Tycoon Li Ka-shing’s Hutchison Port Holdings owns HIT, while COSCO-HIT and Asia Container Terminals are associates, and Modern Terminals is mostly owned by Wharf Holdings.Australian-controlled Dubai Ports International, which operates one berth in Kwai Tsing, was left out of the alliance.The Transport and Housing Bureau said it had learned of the new group only after its formation was announced this week, and demanded the parties involved “fully explain the operational details of the alliance and maintain close communication with other industry stakeholders before it starts operating”.Industry members also expressed grave concerns over potential cartel behaviour hurting trade further at a time when Hong Kong’s container port business was struggling in the face of competition from across the border.They noted that the operators in the alliance were not harmed by this trend, as they were already running terminals in mainland China at ports in Yantian, in Shenzhen, and Huizhou in, eastern Guangdong province.The commission said its investigation would focus on whether setting up the alliance might break the rules by preventing, restricting or distorting competition in Hong Kong.In its defence, a spokeswoman for the alliance said the new partnership would be “positive for our customers” and benefit Hong Kong by enhancing the efficiency, services and competitiveness of the city’s ports.Willy Lin Sun-mo, chairman of the Hong Kong Shippers’ Council, complained that it was bad for the city’s image, and said other stakeholders – even the government – had been kept in the dark.“Many stakeholders and I were taken aback by the announcement of the alliance,” he said. “Who really benefits from it?”Stanley Chiang Chi-wai, chairman of the Lok Ma Chau-Hong Kong Freight Association, said the alliance was a big step backwards in terms of creating a level playing field for business in the city, and questioned if it breached any land lease conditions aimed at increasing competition.“It’s nonsense,” he said. “When these operators are operating individually they already control our business; the more ships that call at their ports, the more business we have.”He warned the alliance could squeeze Dubai Ports out of the game and that business might be diverted to mainland ports if shipping companies found Hong Kong too expensive because of cartel behaviour.“This wouldn’t benefit Hong Kong, and it wouldn’t harm them [the operators] because some of them hedge their business by operating terminals at mainland ports,” he said.Container port business was down in Hong Kong since the US-China trade war erupted last year, Chiang added.Kwai Tsing Terminals’ throughput shrank 4.9 per cent in the first 11 months of 2018, according to the Marine Department.After losing its long-time crown as the world’s top container port in 2004, it has gradually slipped to No 5, after Shanghai, Singapore, Shenzhen and Ningbo-Zhoushan.Leung Kun-kuen, honorary chairman of the Kowloon Truck Merchants Association, raised fears that the alliance could make it even harder for his struggling industry.“These operators have been charging many different types of fees on trucks, and we can do nothing at all in future when they operate as one entity and levy more charges,” he said.But transport sector lawmaker Frankie Yick Chi-ming defended the alliance, saying it would prevent overlapping in port operators’ investments, and help raise the city’s competitiveness, regardless of the commission’s investigation.(Source: South China Morning Post)Sea News, January 14 Author: Baibhav Mishralast_img read more

Levski with revenues of over BGN 980,000 for the month of…

first_imgLevski published the traditional income statement of the club in July. The “Blues” share that the revenues for the previous month amount to BGN 985,616.91, as 56% of them are thanks to the team’s supporters. The expenses are BGN 896,376.49, with the largest share being paid salaries in the amount of BGN 381,586.65.A member of the Board of Levski arranged the rehearsals of Nasko Kurdov?The striker has two weeks to prove himself to GerenaThe whole report published by Gerena: The new season is knocking at the door, and we traditionally publish a statement of income and expenses in PFC Levski for the last month!In July, the revenues amounted to BGN 985,616.91, with 56% being a direct contribution of the supporters in the form of donations, tickets, season tickets and fan articles.The sale of season tickets has generated revenue in the amount of BGN 284,805.79 – almost as much as the revenue from TV rightsThe expenses amount to BGN 896,376.49, with the largest share having the paid salaries in the amount of BGN 381,586.65.Details can be found here.At the moment, 2305 season tickets have been sold. We showed what we can do and we are sure that 2700 until the match with Beroe are a completely achievable goal. Can we? “, Write the club.Levski made the third incoming transfer this summerThe Frenchman Toma Daske signed with the clublast_img read more