/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
TORONTO, May 15, 2020 /CNW/ – CT Real Estate Investment Trust (“CT REIT”) (TSX: CRT.UN) announced today that the trustees of CT REIT have declared a distribution for the period of May 1, 2020 to May 29, 2020 of $0.06562 per trust unit, payable June 15, 2020 to unitholders of record on May 29, 2020. This distribution, if annualized, would represent a rate of $0.78744 per annum.
About CT Real Estate Investment Trust
CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties primarily located in Canada. Its portfolio is comprised of over 350 properties totalling approximately 28 million square feet of GLA, consisting primarily of retail properties located across Canada. Canadian Tire Corporation, Limited is CT REIT’s most significant tenant. For more information, visit ctreit.com.
SOURCE CT Real Estate Investment Trust (CT REIT)
Ontario investing $150 million to improve broadband, cell service for rural communities. | News – Daily Hive
Ontario has announced it is investing $150 million in “reliable broadband and cellular service.”
According to the province, this funding will help create even more economic and educational opportunities in rural, remote, and underserved areas of the province.
“As we carefully restart the economic engine of Canada, every region and every community will play a role in bringing jobs and prosperity back to our province,” said Premier Doug Ford.
“By investing in reliable broadband and cellular service, we are helping to create greater opportunity for our families, farmers, and small business owners in rural and remote areas of this great province.”
The new Improving Connectivity in Ontario, or ICON, program, when leveraged, has the potential to result in an investment of up to $500 million in total partner funding to improve connectivity in underserved and unserved areas, according to the province.
“By doing their part and staying home to help stop the spread of COVID-19, the people of Ontario have demonstrated the need to be connected to learn, work, and run their businesses,” said Infrastructure Minister Laurie Scott. “It appears that functioning remotely will continue to be a regular way of life for many in this new environment, and fast reliable Internet will be critical. The ICON program is an important step towards bridging the digital divide in Ontario.”
The province said as many as 12% of households in Ontario are underserved or unserved, mostly in rural, remote or Northern areas.
And with Ontario’s education now online, it is an important component of the province’s plan.
The provincial government recently called on the federal government to take immediate action to improve Internet connectivity for Ontario students.
“Access to high-speed Internet is foundational to our young people’s success in learning, working, and innovating, today and into the future,” said Minister Stephen Lecce.
“Our government is taking action by connecting all schools to broadband, starting with high schools this September 2020 and elementary schools by September 2021. It is also why we are calling on the federal government to step up their investment to connect the next generation of thinkers and workers to the modern and digital economy.”
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On Tuesday, Ontario extended the province’s state of emergency for another 28 days, until June 30.
Ford said that this doesn’t mean the reopening of the economy is on hold, and that the province will continue to look into a regional approach.
Jeff Bezos' investment into Beacon is 'personal' and not tied to Amazon, UK firm's CEO says – CNBC
Jeff Bezos’ investment in digital freight forwarding and supply chain finance firm Beacon is a personal one, the U.K. start-up’s CEO told CNBC Wednesday after the closing of its $15 million Series A funding round.
“I should be really clear that this investment is from Mr. Bezos directly. It’s a personal investment, not one made by Amazon. Amazon is aware and had to approve of it, but there is no commercial relationship and this has no direct tie with Amazon itself and it’s important to make that distinction,” Beacon CEO Fraser Robinson said.
The backing from Amazon CEO Bezos, who has invested in numerous start-ups, is set to be a major boost for the company in its stated mission to be a global leader in logistics and trade finance. Its investors also include former Google Chairman Eric Schmidt and Uber founders Travis Kalanick and Garrett Camp. Its current executives were previously in senior roles at Uber and Amazon.
Beacon, based in London and founded in 2018, wants to disrupt the global shipping industry by using A.I. to find the cheapest shipping routes while offering customers supply chain financing to help cashflow.
The freight forwarding industry, or how goods move from the manufacturer to market, is worth $1 trillion. Robinson sees Beacon’s role as meeting the need for the industry to become more digitized.
“We were surprised by how analogue the existing logistics industry is,” he said. “By automating and streaming and creating huge efficiencies within our own operating platform, that means we can provide a vastly superior service to our customers — with automated updates, superior route optimization, and the working capital to fulfil what we see as one of the greatest problems created by logistics, which is cashflow.”
Asked about the potential for established shipping giants like DHL and Maersk to use the same technology and sharpen the competition, Robinson said he expects the industry to digitize itself.
“It’s a trend that is already happening and has been going on for a couple years,” he said, but noted that “it’s much more difficult than people realize for large companies to retrofit technology and make themselves more efficient overnight. Typically they’re either buying technology or buying businesses to help them get there.”
“By starting with a technology focus first and foremost and being data centric, I think you have a better shot at a more holistic solution that’s more scalable and more effective,” Robinson said.
He also sees Uber Freight, Uber’s trucking arm for the shipping industry, as potentially a useful complement to Beacon’s wider business, rather than competition. That’s because the trucking operation is just one piece of the longer and more complex process of getting goods across land, sea and air to their final destinations. Uber last year announced it would invest $200 million and hire thousands of engineers to boost its freight platform.
“The truckload piece, the Uber Freight piece, is a component of what we do, and they can and will be a great partner for us as part of the solution we provide, but it’s fundamentally a very different business,” Robinson said.
SoftBank launches $100 million fund investing in 'people of color' – TheChronicleHerald.ca
By Sam Nussey
TOKYO (Reuters) – SoftBank Group Corp 9984.T> is launching a $100 million fund to invest in “companies led by founders and entrepreneurs of color”, in the latest corporate action as protests roil the United States.
Described as SoftBank’s bid to improve diversity, “we have to put money behind it, set plans, and hold ourselves accountable,” SoftBank’s Chief Operating Officer Marcelo Claure, who will head the fund, wrote in a letter to employees on Wednesday.
Named the “Opportunity Growth Fund”, its total initial size is less than a typical single investment by the $100 billion Vision Fund, which is headed by Claure’s rival Rajeev Misra, and will focus on African Americans and Latinos in the U.S..
In addition to leading restructuring at floundering office space startup WeWork, Claure runs a fund investing in Latin America. He and Misra are seen as potential successors to Chief Executive Masayoshi Son.
Claure wrote that Tokyo-headquartered SoftBank was also establishing a “dedicated diversity and inclusion program”.
SoftBank’s management is overwhelmingly male, with the company planning to nominate its first female board director at a shareholder meeting later this month.
While spanning a wide range of nationalities, only four of 30 investors listed on Vision Fund’s website are female.
Companies including foreign firms like SoftBank have made public statements following the worst U.S. civil unrest in decades as the death of an unarmed black man reignites the issue of police brutality against African Americans.
Sony Corp 6758.T> this week pushed back an event for its upcoming PlayStation 5 console, saying “we want to stand back and allow more important voices to be heard.”
(Reporting by Sam Nussey; Editing by Kirsten Donovan)
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