economy recovers further, demand for Ontario's exports will rise and contribute real GDP growth of 2.8 per cent in 2014." The RBC report notes that among the more positive economic developments in Ontario during the first half of 2013 were a resilient housing sector and strong consumer spending on big-ticket items. However, the lacklustre demand for provincial merchandise exports and manufacturing production has contributed to a notable drag on growth so far in 2013. In the June Provincial Outlook, RBC expected auto plants and parts manufacturers in Ontario to http://tewesgefi.blogs.experienceproject.com/2119016.html ramp up production as demand and sales for light vehicles were up dramatically earlier in the year. RBC notes that motor vehicle production was down 7.9 per cent in the first eight months of 2013 relative to the same period a year ago, indicating that Ontario is losing ground to other jurisdictions, including the U.S. southern states and Mexico . Furthermore, exports of machinery, primary metals, industrial chemicals and paper fell year-over-year during the first half of 2013.
A new economic report shows Ontario's auto industry is not revving up the economy as much as expected. The Royal Bank of Canada provincial outlook notes auto sales have been booming across North America and production at Ontario auto plants was expected to ramp up vigourously. Instead, Ontario auto production was down 7.9 % at the end of August, compared to the same period last year. The report said Ontario appears to be losing ground to plants in Mexico and the southern U.S. Our concern is that Ontarios relative position in this industry may become more permanently impaired unless investment in capacity starts to trend higher, reads the report. Auto production was not the only weak spot. The RBC reports notes that Ontario exports of machinery, primary metals, industrial chemicals and paper also fell in the first half of the year. The RBC economists said consumer spending and the housing market in Ontario is still relatively strong, but the bank downgraded its 2013 economic growth forecast for the province from 1.7% to 1.3%.
One firm, G-2 Trading LLC, is fighting the allegations. The SEC alleged that Teachers violated the rules on three occasions in 2010 and one time in 2011. Deborah Allan, a spokesperson for Teachers, said the Canadian pension plan appreciated the quick resolution of the situation through the settlement Tuesday. The SEC has recognized our prompt remedial action and cooperation, Ms. Allan said.
Samsung and Pattern Close Financing for Grand Renewable Wind Project, Jumpstarting Job Creation in Ontario
Utilizing Ontario-made wind turbine blades and towers, the GRW project will produce clean energy equal to the needs of approximately 50,000 Ontario homes each year. The 150 MW GRW project will be accompanied by Grand Renewable Solar, a 100 MW solar power project, with both projects providing a combined capacity of 250 MW of renewable energy. More than 1,000 workers from across Ontario will be involved in every aspect of the GRW project from manufacture and assembly of the wind turbine components to site construction, installation work and project operations. Hundreds of workers will be on site during construction, including local subcontractors that will be utilized for various aspects of the project's construction. The GRW project will begin construction soon and is scheduled to be completed in the fall of 2014. "Samsung is proud to be working with the community and our Six Nations partners on the construction of this project," said Mr. K.J.
Ontario Teachers' Pension Plan Invests USD 70 Million in Latin America's Dafiti Group
Photograph by: Brett Gundlock/National Post , Financial Post The Ontario Teachersa Pension Plan Board is among 23 firms caught in a targeted sweep by the U.S. Securities and Exchange Commission for short-selling violations ahead of public offerings. The specific rules at the heart of the SEC sweep are aimed at preventing short selling that can artificially depress the market price great site in the days ahead of the pricing and, therefore, reduce proceeds from public offerings. Violations of the rules atypically result in illicit profits for the firms,a the regulator said, adding that it has issued a arisk alerta to warn other firms to be mindful of the rules. The nearly two-dozen firms named by the SEC on Tuesday were alleged to have bought shares from an underwriter, broker, or dealer after having sold the same security short during an earlier restricted period.A Restricted periods are typically the five days ahead of public offerings. Related Teachers, one of Canadaas largest pension funds, agreed along with 21 other firms Tuesday to settle the allegations by adisgorginga profits and paying financial penalties. The Canadian pension fund, which had net assets of $129.5-billion at the end of last year, will pay a total of US$224,835.90, including interest.
Ontario Teachers? Pension Plan to pay SEC for short-selling activity
The regulator has increased its focus on preventing http://giuseppejpob.skyrock.com/3181831437-Hollywood-and-Steroids-When-A-List-Actors-Go-the-A-Rod-Route.html firms from improperly participating in public stock offerings after selling short those same stocks. Such violations typically result in illicit profits for the firms. The enforcement actions are being settled by 22 of the 23 firms charged, resulting in more than $14.4 million in monetary sanctions. The SECs Rule 105 of Regulation M prohibits the short sale of an equity security during a restricted period generally five business days before a public offering and the purchase of that same security through the offering. The rule applies regardless of the traders intent, and promotes offering prices that are set by natural forces of supply and demand rather than manipulative activity. The rule therefore helps prevent short selling that can reduce offering proceeds received by companies by artificially depressing the market price shortly before the company prices its public offering. The firms charged in these cases allegedly bought offered shares from an underwriter, broker, or dealer participating in a follow-on public offering after having sold short the same security during the restricted period. The benchmark of an effective enforcement program is zero tolerance for any securities law violations, including violations that do not require manipulative intent, said Andrew J.
Ontario Teachers charged with short selling violations
17, 2013 /PRNewswire/ -- The Dafiti Group, Latin America's leading fashion e-commerce, today announced its largest funding worth USD 70 million Kardashian from the Toronto-based Ontario Teachers' Pension Plan (Teachers'), one of the world's leading funds. Since its launch 2 years ago, the Dafiti Group was able to attract USD 255 million in investor funding. Along with JP Morgan and Quadrant Capital Advisors, Teachers' now joins the list of Dafiti's major investors. Dafiti had just recently announced that it had received an investment of USD 10 million from Mexico's Leon Group, a consortium represented by the owners of the country's largest shoe brands. "This funding endorses the investors' trust in the potential of Brazilian fashion online retail and, consequently, in Dafiti as the leader of this segment in Latin America with our operations in Argentina, Brazil, Chile, Colombia, and Mexico" said Dafiti co-founder Philipp Povel. "We will use this money to strengthen our customer service and our product assortment. All in all, this impressive funding helps us to bring Dafiti to the next level and fulfill on our strategic objective to change the way people in Latin America buy fashion, lifestyle and sports products." For the third time, Brazil was considered the most attractive country for investments in the retail sector*.