A former Newfoundland investment advisor is facing two dozen criminal charges, related to allegations of fraud and forgery.
Joan McCarthy, 53, is set to make a first appearance on the charges Tuesday morning at provincial court in St. John’s.
That’s just two days before McCarthy is scheduled to face separate disciplinary proceedings by the regulator that oversees all investment dealers in the country.
The Investment Industry Regulatory Organization of Canada, or IIROC, has accused McCarthy of falsifying signatures and appropriating $775,000 from the accounts of six elderly clients over a 13-year period.
The criminal charges span the same time frame, from 2006 to 2019, and the same number of alleged victims.
McCarthy is facing 24 counts in total — six each of fraud over $5,000, forgery, using a forged document, and possession of property obtained by crime.
According to IIROC, McCarthy was employed by MD Management Limited at its St. John’s branch from 2000 through March 2019, and has not worked for a regulated firm since.
On Monday afternoon, IIROC officials gave an evolving series of updates to CBC News on what is expected to happen when McCarthy appears before the regulator later this week.
There will be a brief public initial appearance, that will mainly consist of the parties and the panel deciding on dates.
After that concludes, the proceedings will move behind closed doors, for a prehearing conference.
IIROC’s allegations against McCarthy have not yet been proven.
At this point, she hasn’t had the opportunity to enter a plea to the criminal charges.
Former Tesla CTO's battery materials recycling company announces US$700 million+ investment – Energy Storage News
Published: 30 Jul 2021, 07:13
Former Tesla battery guru JB Straubel’s materials recycling company Redwood Materials has attracted more than US$700 million in investment.
Redwood, which is currently developing processes to produce battery materials that can be resold into the supply chain, has partnerships in place with the likes of Panasonic, Envision AESC and Amazon. The company pledges to recycle any device with a lithium-ion battery including phones, laptops and power tools, although a major focus is being placed on electric vehicle (EV) batteries.
The new investment will enable the company to significantly expand its capabilities and create new battery materials within the US, it announced on 28 July. In June, Redwood said it plans to increase the size of its facilities in Carson City, Nevada, to 550,000 square feet, and to build at another large site in Nevada at the Tahoe-Reno Industrial Center. It also wants to recruit 500 more employees in the next couple of years.
A “carefully selected group of strategic investors” took part, including Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board and Fidelity, in a round led by investment management group T. Rowe Price Associates. Investors that also participated in a previous Series B round also invested again, including Bill Gates’ Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund.
“We are excited to begin this investment in the talented and accomplished team at Redwood as they expand their pursuit of building a world-class sustainable, closed-loop battery supply chain for electric vehicles,” T. Rowe Price Growth Stock Fund portfolio manager Joe Fath said.
“In our view, the need for these materials will grow exponentially over time as we enter the era of decarbonisation. We believe Redwood is well-positioned to be at the forefront of tackling this emerging and critically important problem.”
Redwood CEO Straubel was one of Tesla’s co-founders and was chief technical officer at the company before founding his recycling venture in 2017. Straubel had hinted at the scale of the recent investment at an online event hosted by the US Department of Energy in June, telling Secretary of Energy Jennifer Granholm and viewers that recycling can enable very high utilisation of materials, helping to solve a “pretty challenging supply chain problem” that lies ahead.
At that event, which was focused on the challenges and opportunities of creating an advanced battery manufacturing value chain within the US, Secretary Granholm asked Straubel what the investment — which at the time he said would be in the order of “hundreds of millions of dollars” — said about the recycling space today.
Straubel replied that it showed that recycling is already very economically competitive, with recycled materials actually able to compete on price with mined materials. He added that Redwood is finding feedstock from the EV and consumer electronics sectors to be abundant. However, he noted that the market for recycled materials is currently in China, where they are sent to be reused in new products, rather than in North America. This highlighted gaps in refining and synthesis value creation in the US, the CEO said.
What role will stationary storage systems have in the recycling landscape?
Energy-Storage.news has recently heard from two different companies involved in battery recycling in North America and Europe that stationary storage systems will play a significant role in the coming years.
Finnish state-owned energy company Fortum announced its own US$30 million investment into a battery materials recycling plant in June which it hopes to open fully in 2023, capable of recovering lithium-ion, nickel, manganese and cobalt through a hydrometallurgical process, adding to existing facilities the company has in its home country.
Fortum’s head of its battery business line Tero Holländer told Energy-Storage.news that while the largest volumes of batteries for recycling will come from the EV segment, the share of batteries from energy storage systems (ESS) will also be significant.
Similarly, Canada-headquartered startup Li-Cycle, which has facilities in Canada and the US, recently formed a partnership with battery life cycle management company Renewance aimed at cost-effectively and sustainably processing ESS batteries.
Li-Cycle chief commercial officer Kunal Phalpher told the site that the ESS segment has a “crucial role” to play, with EVs “far from being the exclusive point of focus for the industry”.
“Stationary energy storage is playing a crucial role in the big picture of battery recycling, especially in the United States which is experiencing rapid growth and is in need of finding efficient methods to recycle all of the batteries stemming from facilities being decommissioned and/or upgraded,” Phalpher said.
In September last year, analysts from IHS Markit told the audience at an event hosted by our publisher Solar Media that more or less every stakeholder in the lithium-ion battery supply chain will see it as being in their interests to establish an effective recycling industry.
Stay up to date with the latest news, analysis and opinions. Sign up here to the Energy-Storage.news Newsletter.
Investing For Beginners: Financial Tips To Get Started – NPR
Millions of Americans have started investing during the pandemic. And while the market has started to get a bit wobbly lately, stocks are still near all-time highs. So now is actually a really good time for people new to the world of investing to figure out how to get their ducks in a row and their investments set up in a smart way for whatever the future may bring.
If you’re an everyday investor drying to sift through Reddit threads and YouTube tutorials, this is for you. Here are a few common mistakes to avoid and some actionable tips to get you on your own investing path.
Betting on a hot stock isn’t worth it.
Despite news headlines on life-changing investments on one stock item like GameStop, it is too risky to make short-term bets with sizable sums of money on what a stock is going to do next. Instead, some of the most respected investors in the world have long said the best way for everyday investors like you and me to make money is to invest in index funds and hold those investments over long periods of time.
Explore Life Kit
This story comes from Life Kit, NPR’s family of podcasts to help make life better — covering everything from exercise to raising kids to making friends. For more, sign up for the newsletter and follow @NPRLifeKit on Twitter.
Most index funds offer low fees and will allow you to essentially buy the entire stock market. That way, if any one stock crashes it won’t affect your portfolio. And if you really want to bet on individual stocks, the best advice is to do that with a very small part of your portfolio — and only with an amount of money you can afford to lose.
Build a diverse portfolio.
The key to everyday investing is diversification, which means owning different types of investments to spread out the risk. According to investment manager Paula Volent, you definitely want to own stock index funds because stocks over time have always offered the best return. She suggests owning a broad U.S. stock market index fund, a foreign developed markets index fund and an emerging markets index fund.
Volent also says you need investments that can do well when stocks are doing poorly. These include Treasury bonds and real estate funds. As far as how to know how much of each of these components is the right mix for you, there are different ways to figure that out. Age-based, or so-called “target-date,” index funds put together a mix of many of these components for you with a risk profile based on how many years you are away from retirement.
For more guidance, read David Swensen’s Unconventional Success.
Want to learn more? If you’re going to read one book, check out economist David Swensen’s Unconventional Success. It’s the ultimate introduction to everyday investing from a world famous investor who set out to tell the rest of us how to do this right. Jack Bogle’s book Common Sense On Mutual Funds is another classic.
Working with a financial adviser? Make sure they’re fee-only.
Checking in with a financial adviser is strongly recommended by experienced investors, but make sure you’re speaking with a fee-only expert, who isn’t receiving commissions for steering you into one investment over another. Once you find someone acting in your best interest, try to meet with them once a year or every two to three years. Find someone you can pay a flat fee for each visit. This will save you money in the long term
Rebalance your investments for stability and to maximize your return on your investments.
There is no need to panic, even in times of big corrections in the market. With a diverse investment portfolio, you actually have an opportunity to make some extra money off of big swings in the markets by selling what has gone up in value and buying more of what’s gone down.
Let’s say you’ve decided you should have 50% of your portfolio in a mix of stock index funds. If stocks crash and bonds rise in value, then the stock portion of your portfolio might only be worth 45% of your overall portfolio. You can sell some bonds and buy more stocks to get back to the target in your investment plan. Buying low and selling high is the right way to make money investing. But you’re not doing this randomly. You are sticking with your plan for your target allocation in your core portfolio.
Bottom line — please don’t panic and sell everything just because the stock market crashes and you see other people panicking and getting rid of their stocks. That can do irreparable harm to your portfolio. Buying high and selling low is not a good way to make money.
The audio portion of this episode was produced by Janet W. Lee.
If you love Life Kit and want more, subscribe to our newsletter.
6 Useful Tips on How to Make the Process of Investment Funding Fast and Convenient – The Seeker Newsmagazine Cornwall – The Seeker
Investment is not child’s play that can be mastered within no time. It requires a lot of tactics, risk-taking, and funding to make it work more conveniently and faster. If you are new in the business, you should definitely learn some tips to make the process of investment funding fast and convenient.
- Preparing an Investment Strategy
Preparing an abstract plan or portfolio of every investment funding is always better before starting it. The tasks will be easier for you to perform with all the data and statistics already prepared. Your strategy should consist of all the information regarding your investment goals, risk-taking tolerance, time horizon, and the variety of investment products you can invest in.
- Use Different Strategies And Diversification
The most efficient way to secure your investment is by using different strategies of investment funding. You can invest your funds in a variety of assets, whether you invest in bonds, stocks, real estate, or any other sub-investments, depending on your affinity for the field. This process of diversification will help you keep your funds safer. If the value of one option declines, the other variety will help cover up for your loss. So, you can opt for diversity in your investment funding to make it safer.
- Evaluation of Risk-Taking
Another basic function you need to take care of is to evaluate the risk you are going to take in any investment plan. If you are investing your funds, it should be obvious that you might face a number of risks after signing any project. Have the patience to take in any loss coming your way. To make your mind prone to any loss, you should evaluate the intensity of the loss you might face after investing your funds before signing up for any plan. This step will make the process of investment funding convenient.
- Apply For Different Investment Campaigns Or Loans
Most of you might not afford self-funding due to a lack of savings. However, you should not let this become a hurdle in your investment journey. There are different options you can consider like crowdfunding, angel investment, venture capital, bank loans, government plans, and other business loans. You can also try hard money lenders if you’re interested in real estate investment. The best option for this expenditure can be investor loans. Houston-based businesses, for instance, have their go-to people when it comes to getting loans for real estate. They are well aware that lenders from Priority Investor Loans are hard money lenders for real estate, and they come with tons of benefits that help make the process of investment funding fast and convenient. Through crowdfunding, you could seek the attention of investors through your proposal online. On the other hand, Angel investors and Venture capitalists are those looking for people with attractive business proposals, so they could guide them and invest in them. In the end, even if you have no one interested in your proposals, you could apply for business loans and start on your own.
- Maintain Plans To Escape Emergency Traps
Always remember to maintain emergency exits for all your investments. Keep enough money and other resources in case anything goes wrong. Your backup fund would be your go-to in case of any financial emergencies. With that, you could easily cover up the number of lost funds due to any decline in the stock market.
- Fund Your Own Business
The most convenient and fastest way to boost your investment funding is by funding your own business. This will help you remain motivated to work hard and remain free of debt. Additionally, the most important advantage would be that you will get the maximum profit from all your investments.
Proposing different ideas related to the process of investment funding is easy, yet a few people know its practical meaning. You may be new to this expenditure, still, you should know that it takes a lot of practical strategies and hard work to make the process work efficiently.
Coronavirus: Canada extends pandemic benefits through to Oct. 23 – CTV News
Try Sharing Just One Bad Moment On Social Media And See What Happens – Forbes
‘Unstrung’ Review: The Art of Distortion – The Wall Street Journal
Silver investment demand jumped 12% in 2019
Europe kicks off vaccination programs | All media content | DW | 27.12.2020 – Deutsche Welle
Iran anticipates renewed protests amid social media shutdown
Business11 hours ago
Your Cover Letter’s Third Paragraph — Getting the Reader to Act
Sports11 hours ago
Doping raises its head as BMX marred by crashes
Science21 hours ago
Elon Musk's SpaceX saved NASA $500 million – Quartz
Sports5 hours ago
Canada’s MacLennan overcomes pre-Games injury
Sports4 hours ago
Canada’s spectrum auction raises record $7.2 billion as firms gear for high-speed internet
News13 hours ago
Canada’s wildfires could cost billions, kill thousands if nothing is done: report – Global News
Business12 hours ago
Israel to offer COVID-19 booster shot to fully vaccinated people 60 and older – The Globe and Mail
Health12 hours ago
COVID-19 in B.C.: Over 200 new cases and over 1000 active cases; Fraser Health shifts to vaccine hubs; and more – The Georgia Straight