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Investment

Toronto to receive $22.4mn investment from TELUS

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TELUS is investing [$22.4 million (€20.53 million)] in Toronto this year as part of our [$28 billion (€25.66 billion)] investment in infrastructure, operations, and spectrum across Ontario through 2027. These investments are critical to providing Canadians with access to technology, connecting customers to the people, resources and information that make their lives better.

 

“TELUS’ [$28 billion (€25.66 billion)] investment in Ontario will further amplify the superiority of our world-leading wireless network, enabling vital connectivity for millions of citizens. This builds on the more than [$62 billion (€56.81 billion)] TELUS has invested in technology and operations in Ontario since 2000,” says Darren Entwistle, president and CEO of TELUS. “Our globally recognised networks are the backbone of our digital economy and societies, driving innovation and uplifting marginalised communities. This investment will help ensure that Ontarians can stay connected to what matters most, including healthcare, safe and healthy food, online education, friends and family, and the flexibility to work remotely; all with the accompanying environmental benefits.”

“Reliable, fast internet is not a luxury, it’s crucial to our daily lives and ensures our safety. The Government of Canada is working with providers like TELUS to bring Universal Broadband services to rural and remote communities so they can connect to the world,” says Filomena Tassi, minister responsible for the Federal Economic Agency for Southern Ontario. “This investment in Ontario from TELUS is another example of their support for growth and innovation across the province. Our government is working hard to create good jobs and strong economies across Ontario and it is great to have a partner in TELUS working toward that same goal.”

“TELUS’ Friendly Future Foundation has made it possible for Malvern Family Resource Centre (MFRC) to develop and pilot a really exciting and innovative new project in our community- the Future Farming Initiative. This programme will train and engage youth living in Scarborough at MFRC’s in-community hydroponic micro-farm and our two-acre urban farm,” says Amy Semenuk, manager, community and family programmes and services Malvern Family Resource Centre. “By the end of their 13-week term, youth will have gained in-demand employable skills in food growing and urban agriculture. At the same time, youth will grow hundreds of kilograms of culturally relevant food, improving local fresh food access to hundreds of food insecure families in local communities. We are grateful to TELUS for their generous support in improving food access and youth employment.”

TELUS’ next generation networks are unleashing human productivity and contributing to improved health and educational outcomes, supporting environmental sustainability, fostering entrepreneurship, bridging the socio-economic divide, and driving economic growth. Now through 2027 in Ontario, TELUS is:

  • Continuing to roll out 3500 MHz spectrum on its 5G network
    Since June 2022, TELUS has been deploying its 3500 MHz spectrum holdings on its next-generation 5G wireless network to further support the country’s economic growth and competitiveness, bringing enhanced capacity, low latency and fast speeds to TELUS customers.

    • As part of this rollout, customers in Toronto with a compatible 5G device, on a 5G+ plan in a 3500MHz spectrum area will experience 50% faster average data speeds and increased capacity on our reliable 5G network.
  • Supporting Ontario’s agriculture industry

TELUS Agriculture and Consumer Goods is on a mission to create a unified, trusted and sustainable value chain that enables the production and logistics outcomes, while lowering the impact on the environment. It is delivering digital solutions and actionable data insights that connect global supply chains, improving the safety, quality and sustainability of food and consumer goods.

  • Leveraging TELUS’ 5G technology, UWindsor has partnered with Horteca to launch a fully-operational connected research greenhouse in Harrow, Ontario. The greenhouse will use IoT and compute capabilities to make food production more scalable, while reducing cost and footprint.
  • Creating a greener province and planet

Our investments in energy-efficient networks, renewable energy sources, technologies and sustainable business practices are supporting a greener future by reducing our carbon footprint and enabling TELUS to become net carbon neutral by 2030 or sooner.

  • In partnership with restoration companies, including Veritree and Flash Forest, TELUS is working to leverage the its networks and technology to modernise nature-based solutions with the goal of replenishing forests and seaforests. To start, TELUS, Veritree and Flash Forest are focusing on reforestation and seaforestation projects in western Canada and internationally.
  • TELUS also recognises the role of connectivity in supporting Canada’s climate objectives. Digital connectivity and technologies can reduce GHGs (greenhouse gas) emissions by up to 20%. As a country with high-quality telecom networks and high GHG emissions per capita, Canada has the opportunity to become a world provider in digital climate policy and digital climate solutions, incentivising digital uptake across underserved communities, GHG intensive-industries, and the public service.
  • Transforming how Ontarians access healthcare
    • TELUS’ approach to leveraging technology in health care has expanded globally since its acquisition of LifeWorks in fall 2022. Now supporting 67 million lives in 160 countries TELUS Health is on a mission to become the trusted wellbeing company in the world with solutions focused on enhancing total health, across three dimensions – physical, mental and financial.
    • Since 2022 TELUS Health has provided access to physical and mental health care for people in Canada either through our publicly-funded virtual care service, TELUS Health MyCare, or employer-funded health benefits resulting in more than 1.4 million virtual and in-person appointments, helping to build the healthy communities and workplaces on the planet.

From 2000 through 2022, TELUS has invested [$240 billion (€219.84 billion)] nationally in network infrastructure, operations and spectrum, including more than [$62 billion (€56.81 billion)] in Ontario. These investments are consistent with TELUS’ capital expenditure guidance for 2023, released in the fourth quarter of 2022 earnings release dated February 9, 2023.

TELUS also embraces tax morality as a means of further investing in our communities. Since 2000, TELUS has paid approximately [$54 billion (€49.46 billion)] in total tax and spectrum remittances to our federal, provincial and municipal governments across Canada, consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes, various regulatory fees and spectrum remittances, including more than [$2.3 billion (€2.11 billion)] in taxes in 2022 alone. These funds support public works projects, education, healthcare, cultural pursuits and other initiatives that improve the social and economic well-being of our communities.

 

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Economy

S&P/TSX composite up more than 250 points, U.S. stock markets also higher

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TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.

The S&P/TSX composite index was up 254.62 points at 23,847.22.

In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.

The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.

The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.

The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Investment

Canada’s Probate Laws: What You Need to Know about Estate Planning in 2024

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Losing a loved one is never easy, and the legal steps that follow can add even more stress to an already difficult time.

For years, families in Vancouver (and Canada in general) have struggled with a complex probate process—filled with paperwork and legal challenges.

Thankfully, recent changes to Canada’s probate laws aim to make this process simpler and easier to navigate.

Let’s unearth how these updates can simplify the process for you and your family.

What is probate?

Probate might sound complicated, but it’s simply the legal process of settling someone’s estate after death.

Here’s how it works.

  • Validating the will. The court checks if the will is legal and valid.
  • Appointing an executor. If named in the will, the executor manages the estate. If not, the court appoints someone.
  • Settling debts and taxes. The executor (and you) pays debts and taxes before anything can be given.
  • Distributing the estate. Once everything is settled, the executor distributes the remaining assets according to the will or legal rules.

Probate ensures everything is done by the book, giving you peace of mind during a difficult time.

Recent Changes in Canadian Probate Laws

Several updates to probate law in the country are making the process smoother for you and your family.

Here’s a closer look at the fundamental changes that are making a real difference.

1) Virtual witnessing of wills

Now permanent in many provinces, including British Columbia, wills can be signed and witnessed remotely through video calls.

Such a change makes estate planning more accessible, especially for those in remote areas or with limited mobility.

2) Simplified process for small estates

Smaller estates, like those under 25,000 CAD in BC, now have a faster, simplified probate process.

Fewer forms and legal steps mean less hassle for families handling modest estates.

3) Substantial compliance for wills

Courts can now approve wills with minor errors if they reflect the person’s true intentions.

This update prevents unnecessary legal challenges and ensures the deceased’s wishes are respected.

These changes help make probate less stressful and more efficient for you and other families across Canada.

The Probate Process and You: The Role of a Probate Lawyer

 

(Image: Freepik.com)

Working with a probate lawyer in Vancouver can significantly simplify the probate process, especially given the city’s complex legal landscape.

Here’s how they can help.

Navigating the legal process

Probate lawyers ensure all legal steps are followed, preventing costly mistakes and ensuring the estate is managed properly.

Handling paperwork and deadlines

They manage all the paperwork and court deadlines, taking the burden off of you during this difficult time.

Resolving disputes

If conflicts arise, probate lawyers resolve them, avoiding legal battles.

Providing you peace of mind

With a probate lawyer’s expertise, you can trust that the estate is being handled efficiently and according to the law.

With a skilled probate lawyer, you can ensure the entire process is smooth and stress-free.

Why These Changes Matter

The updates to probate law make a big difference for Canadian families. Here’s why.

  • Less stress for you. Simplified processes mean you can focus on grieving, not paperwork.
  • Faster estate settlements. Estates are settled more quickly, so beneficiaries don’t face long delays.
  • Fewer disputes. Courts can now honor will with minor errors, reducing family conflicts.
  • Accessible for everyone. Virtual witnessing and easier rules for small estates make probate more accessible for everyone, no matter where you live.

With these changes, probate becomes smoother and more manageable for you and your family.

How to Prepare for the Probate Process

Even with the recent changes, being prepared makes probate smoother. Here are a few steps to help you prepare.

  1. Create a will. Ensure a valid will is in place to avoid complications.
  2. Choose an executor. Pick someone responsible for managing the estate and discuss their role with them.
  3. Organize documents. Keep key financial and legal documents in one place for easy access.
  4. Talk to your family. Have open conversations with your family to prevent future misunderstandings.
  5. Get legal advice. Consult with a probate lawyer to ensure everything is legally sound and up-to-date.

These simple steps make the probate process easier for everyone involved.

Wrapping Up: Making Probate Easier in Vancouver

Recent updates in probate law are simplifying the process for families, from virtual witnessing to easier estate rules. These reforms are designed to ease the burden, helping you focus on what matters—grieving and respecting your dead loved ones’ final wishes.

Despite these changes, it’s best to consult a probate lawyer to ensure you can manage everything properly. Remember, they’re here to help you during this difficult time.

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Economy

Energy stocks help lift S&P/TSX composite, U.S. stock markets also up

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TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.

The S&P/TSX composite index was up 34.91 points at 23,736.98.

In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.

The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.

The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.

The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.

This report by The Canadian Press was first published Sept. 17, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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