A deal for the Royal Bank of Canada to absorb HSBC Bank Canada for $13.5 billion is good news for pension plans, said Dave McKay, chief executive officer of RBC. “This is good for shareholders — which are largely pension funds — and that’s average Canadian pension funds,” said McKay during a conference call. The […]
The U.S. Supreme Court’s decision to end the nation’s constitutional protections for abortion has catapulted employers of all types into the most divisive corner of politics. Some companies that stayed silent last month — when a draft opinion by Justice Samuel Alito was leaked to Politico — have spoken up for the first time, including […]
It’s become a common sight: jubilant Starbucks Corp. workers celebrating after successful votes to unionize at dozens of U.S. stores. But when the celebrations die down, a daunting hurdle remains: to win the changes they seek — like better pay and more reliable schedules — unionized stores must sit down with Starbucks and negotiate a […]
Canada’s pension plans are well positioned to succeed in a high inflation environment though stagflation remains a significant threat, according to a new report from Fitch Ratings. “The maturing nature of participant bases increases pension funds’ reliance on investment returns, as contributions and income from active members may be outpaced by benefits paid to a […]
Ontario is eyeing a new system to provide “portable benefits” for workers in the gig economy, retail and hospitality sectors who don’t currently have health, dental or vision coverage. Under the plan, workers would be able to keep their benefits even if they change jobs, said the province in a press release. If the plan […]
Employers are continuing to feel the squeeze, with rising prices set to push wages higher this year in a “feedback loop building” as the annual pace of inflation climbed in December 2021 to its highest rate since September 1991. In December, the consumer price index was up 4.8 per cent, compared with a year ago, reported Statistics […]
Workers turn to them for support, clients rely on them for answers, companies lean on them in times of crisis. Yet, as the coronavirus pandemic stretches inexorably on, the never-ending demands on business leaders are pushing some to the brink of burnout, some experts have warned. “Leaders are under tremendous strain,” says Paula Allen, global […]
Workers in B.C. will be eligible for “fair and balanced” sick leave pay that provides a minimum of five days a year starting Jan. 1, 2022, according to Labour Minister Harry Bains. The new sick leave policy affects all workers covered by the province’s Employment Standards Act, including part-time workers, he added. “I firmly believe that […]
As an executive with the City of Toronto, Lawrence Eta now makes a point of not coming into the office every day. The chief technological officer says that’s because he wants to lead by example and show his employees that there’ll be no preferences between someone who’s working onsite or remotely in their hybrid working […]
The University of Toronto is the latest institution committing to the divestment movement, saying Wednesday it will sell off all fossil fuel investments in its $4 billion endowment fund by the end of 2030 to help fight climate change. The commitment by its investment manager, the University of Toronto Asset Management Corp., includes divesting from all direct investments […]