August 2016

Canada to Join China’s Version of the World Bank

Published on August 31, 2016 in Investing by Olivia

Among other things discussed during Prime Minister Justin Trudeau’s visit to China this week is Canada having applied to join China’s version of the World Bank, the Asian Infrastructure Investment Bank which already has 57 countries as members and is looking for another 30. Included in the list of member countries is England, France, Germany, Australia and South Korea, with the US notably absent.

Why would Canada want to join the China-led bank? It could help to foster the relationship between the two countries following the tepid relationship former Prime Minister Stephen Harper maintained with China – Canada’s second-largest single trading partner.

Read the original article by Jane Perlez, published in The New York Times, August 31 2016.

Feature image via Lintao Zhang/Getty Images: Canadian Prime Minister Justin Trudeau and China Premier Li Keqiang

Apple Ordered to Pay $14.5B by Economic Commission

Published on August 31, 2016 in Investing by Olivia

From Bloomberg:

“Apple Inc. was ordered to pay as much as 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker’s tax bill, in a record crackdown on fiscal loopholes that also risks inflaming tensions with the U.S.

The world’s richest company benefited from selective tax treatment that gave it an unfair advantage over other businesses, the European Union regulator said Tuesday. It’s the largest tax penalty in a three-year campaign against corporate tax avoidance. Apple and Ireland both vowed to fight the decision in the EU courts.”

Watch the video here.

August 31, 2016: An update from The New York Times.

US Fed Chairwoman Suggests Interest Rate Rise

Published on August 31, 2016 in Investing by Olivia

On Friday The Chairwoman of the US Federal Reserve (the central banking system in the US that determines monetary policy, a.k.a. interest rates), gave a highly anticipated speech at the annual economic summit (an invitation-only conference for central bankers from around the world), in Jackson Hole, Wyoming and provided reason to believe that the Fed will soon implement an interest rate increase, with more increases to follow. Keep Reading

Is This How to Get More Women Involved in Canadian Politics?

Published on August 31, 2016 in Investing by Olivia

A BC New Democrat recently proposed a new way to involve more women in Canadian politics, and frankly, I am not a fan: Kennedy Stewart‘s bill, the Candidate Gender Equity Act, proposes reducing the amount of rebates a party can register for after an election is over if a certain percentage of their candidates were not women. Keep Reading

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