Blog Archives

Live bulls to run on Toronto’s Bay Street – Business – CBC News

Bull Rider Down 2012

Toronto‘s Bay Street will soon be overrun by more bulls than usual — and not just the financial variety.

At least, that’s what the Royal Agricultural Winter Fair hopes will happen, as the festival plans to kick off its 90th year with a launch unlike anything tried before.

On Tuesday, Oct. 30, the group plans to release six 900-kilogram bulls at the intersection of Bay Street and Wellington in Toronto’s financial centre. The plan is to coax the animals north toward King Street before being corralled.

“While spectators will be able to marvel at these magnificent animals, the streets will be closed to pedestrian and vehicle traffic during the running of the bulls,” the fair’s organizers said in a press release announcing the stunt.

via Live bulls to run on Toronto’s Bay Street – Business – CBC News.


Wealthy hiding $21 trillion in tax havens, report says – Business – CBC News

The world's "super-rich" are hiding between $21 trillion US and $32 trillion in tax havens, according to a new report. (Lee Jin-man/Associated Press)

The “super-rich elite” are hiding more than $21 trillion US in tax havens around the world, an amount roughly equal to the combined GDP of the United States and Japan, according to a new report.

Commissioned by the Tax Justice Network, an independent British organization, the report is said to be the most comprehensive ever done concerning what it calls the “offshore economy.”

Researched and written by James Henry, an expert on tax havens, the report states the hidden money could be as large as $32 trillion, and represents a massive black hole in the world’s economy.

The amount of tax income lost “is large enough to make a significant difference to the finances of many countries,” Henry noted.

Hidden money from elites living in developing countries is “enough to make a significant difference to the finances of many countries… that are now struggling to replace lost aid dollars and pay for climate change. Indeed, once we take these hidden offshore assets and the earnings they produce, ‘debtor countries’ are in fact revealed to be wealthy,” he said.

via Wealthy hiding $21 trillion in tax havens, report says – Business – CBC News.

Strange Random Tax Quote:

“Death, taxes and childbirth! There’s never any convenient time for any of them.” ― Margaret Mitchell, Gone With the Wind

Organic becoming the latest marketing gimmick – Business – CBC News

Blue Label Tomato Ketchup advertisement from 1898.

I was in the grocery store stocking up on supplies for a hot dog dinner with my daughter. Perusing the condiment isle, something caught my eye: a slick label and the word “organic” emblazoned on one of those upside-down plastic squeeze ketchup bottles.

I laughed. Now this is rich.

I compared prices, amid the myriad varieties of mustard and mayo. Seven hundred and fifty milliliters of organic ketchup cost almost $7. For twice the amount in the same brand, the regular ketchup was $5.50. It’s not the first time I’ve run into junk food purporting its virtues.

Recently, I let my daughter choose her own crackers. She came back to the cart with a notorious snack cracker; its box screeched that it was made with whole grains. Given these claims, I figured it was time to look at the fine print — you know, that write-up on the back called the nutrition label.

Between the organic ketchup and the plain ol’ stuff, the organic kind contained more sugar. I pitted the whole grain crackers against the ones made with real vegetables and the original ones I grew up on.

The real veggie crackers contained more sugar and more protein, but less calcium. The whole grains had less fat. At least the price point was the same for each. What’s a girl to do? Especially, a girl who is also a parent to a little girl?

A plethora of products and services exist to tap into our greatest fears and insecurities. There’s always something telling us it will make us thinner, faster, smarter, healthier, better if we just spend our money. This label “organic” — while it may very well be true — is a buzzword that many companies are savvy enough to tap into.

via Organic becoming the latest marketing gimmick – Business – CBC News.

Strange Random Organic Quote:

High-tech tomatoes. Mysterious milk. Supersquash. Are we supposed to eat this stuff? Or is it going to eat us? – Annita Manning

Coffee prices get jolt in jittery economy – Business – CBC News

The slowing global economy is having an effect on the price of coffee, as cash conscious consumers ditch their latte habits in favour of plain old cups of joe.

The two most commonly produced varieties of coffee in the world are arabica and robusta.

Drawing their name from the Arabian mountains of Yemen and Ethiopia, arabica beans tend to be of higher quality and are processed more carefully. Because they only grow at altitudes higher than 610 metres above sea level, they’re a lot more expensive to harvest but are prized for their taste — Arabica’s spot price hit a 34-year high north of $3 per pound in April of last year.

While most commercial coffee brands use a blend of the two, robusta beans are easier to harvest and more disease-resistant — which tends to make them cheaper, although most connoisseurs believe they produce an inferior product.

“Robusta has genes that can give it a wet cardboard, rubbery smell and taste,” says John Rapinchuk, the chief financial officer of San Francisco-based Knutsen Coffees Ltd.

As unappetizing as that sounds, demand for robusta beans has soared this year, as consumers downgrade their coffee budgets.

Arabica shipments are down by eight per cent over last year’s level, while robusta exports are booming — up 10.4 per cent from where they were a year ago.

That’s pushing the price for robusta higher, with the price of beans increasing 22 per cent since January to $1.17 US per pound.

Consumption of the higher-end arabica beans in rich European nations, meanwhile, has cratered since January due to what the International Coffee Organization charitably describes as “macroeconomic turbulence.”

via Coffee prices get jolt in jittery economy – Business – CBC News.

Strange Random Coffee Quote:

“Police work wouldn’t be possible without coffee,” Wallander said.
“No work would be possible without coffee.”
They pondered the importance of coffee in silence.

Henning Mankell, One Step Behind

Retirement realities lag expectations, poll suggests – Business – CBC News


Retirement is not all it’s cracked up to be, a new poll from RBC suggests.

Rather than volunteering, travelling and fleeing to Florida or Arizona for the winter, retirees are staying home, studying their finances and focusing on their health.

“Many expectations that Canadians have about retirement turn out very differently in reality,” said Jason Round, senior manager in the bank’s financial planning division.

The RBC poll compared with what retirees said they do with what pre-retirees said they planned to do. According to the bank, “retired Canadians are living lifestyles that are worlds apart from how nearly retired Canadians think they’ll be spending their retirement years.”

Some of the key differences:

  • More than half 56 per cent of pre-retirees said they’d volunteer, but only 38 per cent of retirees do.
  • Nearly three-quarters 74 per cent of pre-retirees said they’d travel, but only 58 per cent of retirees actually do.
  • Three out of 10 pre-retirees said they’d become a snowbird, but only 14 per cent of retirees do.

via Retirement realities lag expectations, poll suggests – Business – CBC News.

Strange Random Retirement Quote:

When you retire, you switch bosses – from the one who hired you to the one who married you.  – Gene Perret

Enhanced by Zemanta
%d bloggers like this: