Investment

Billion dollar investment fund manager demands end to CERB – ThinkPol

Published

4 years ago

May 26, 2020

A billion dollar investment fund manager is demanding an end to the $2,000 per month Canada Emergency Response Benefit claiming that income support to people who lost jobs due to COVID-19 pandemic is making it hard for him to hire workers.

“I’m hiring like crazy right now. Lots of great talent out there,” tweeted Canaccord Genuity Cash Management Group investment manager Andrew Johns. “Sadly, there is obviously a whole sub segment of the population that has no interest in working. Gov’t needs to end #CERB now!”

I’m hiring like crazy right now. Lots of great talent out there.

Sadly, there is obviously a whole sub segment of the population that has no interest in working.

Gov’t needs to end #CERB now!

— Andrew Johns (@AndrewNJohns) May 24, 2020

Even while calling for an end to support for unemployed workers, Johns, who founded the Bitcoin ATM network HoneyBadger Inc, is advising his investment firm’s corporate clients on how to maximize government benefits.

Join @CGCashGroup accounting team to learn how your private or public company can get the most out of these #covid19Canada stimulus programs.

Thursday, May 21st
1pm PST; 2pm MST; 4pm ESThttps://t.co/xsksPzHHSG

— Andrew Johns (@AndrewNJohns) May 17, 2020

Reaction to Johns’s tweet has been swift.

“Are you willing to offer them more than they get on CERB?,” asked Tracy Assoun. “If not, why would they work for you? CERB is a bare minimum. $12.50/hr 40 hrs a week. Big deal. If you don’t pay more than that, I wouldn’t want to work for you either.”

“Classic ‘This is my reality so it must be the case for all of society!’.” said Nick Faye. “Just because your business is hiring doesn’t mean that the economy isn’t currently a fraction of what it was before with many industries (eg. tourism, performing arts, etc) still unable to safely open.”

“The CERB is literally less than minimum wage,” Jane Murdoch said. “If potential employees would rather be taking CERB than work for you, that’s a you problem. Your business practices need improving.”

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 weeks ago

October 16, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

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

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

4 weeks ago

October 11, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

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

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

4 weeks ago

October 10, 2024

Anne Joseph

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

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

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