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Scotiabank says technical issues disrupting salary payments is fixed

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TORONTO – Scotiabank says it has fixed an issue that caused some account holders not to receive their pay and other deposits Friday.

Customers had taken to social media to complain about the issue, noting it came on a payday near the end of the month when many bills come due.

The bank says in a statement that it is “deeply sorry for the invoncenience” and sincerely appreciates the patience of clients as it worked to resolve the problem.

The early afternoon update says customers should start to see their direct deposits and cheque deposits posted to their accounts.

Scotiabank says any fees incurred as a result of the issue will be reimbursed.

Last year, TD Bank Group also had an issue where customers didn’t receive direct deposits on a Friday.

This report by The Canadian Press was first published July 26, 2024.

Companies in this story: (TSX:BNS)

The Canadian Press. All rights reserved.

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Manitoba NDP removes backbencher from caucus over Nygard link

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WINNIPEG – A backbencher with Manitoba’s NDP government has been removed from caucus over his link to convicted sex offender Peter Nygard.

Caucus chair Mike Moyes says it learned early Monday that a business partner of Mark Wasyliw is acting as Nygard’s criminal defence lawyer.

Moyes says Wasyliw was notified of the decision.

“Wasyliw’s failure to demonstrate good judgment does not align with our caucus principles of mutual respect and trust,” Moyes said in a statement.

“As such MLA Wasyliw can no longer continue his role in our caucus.”

Nygard, who founded a fashion empire in Winnipeg, was sentenced earlier this month to 11 years in prison for sexually assaulting four women at his company’s headquarters in Toronto.

The 83-year-old continues to face charges in Manitoba, Quebec and the United States.

Moyes declined to say whether Wasyliw would be sitting as an Independent.

The legislature member for Fort Garry was first elected in 2019. Before the NDP formed government in 2023, Wasyliw served as the party’s finance critic.

He previously came under fire from the Opposition Progressive Conservatives for continuing to work as a lawyer while serving in the legislature.

At the time, Wasyliw told the Winnipeg Free Press that he was disappointed he wasn’t named to cabinet and planned to continue working as a defence lawyer.

Premier Wab Kinew objected to Wasyliw’s decision, saying elected officials should focus on serving the public.

There were possible signs of tension between Wasyliw and Kinew last fall. Wasyliw didn’t shake hands with the new premier after being sworn into office. Other caucus members shook Kinew’s hand, hugged or offered a fist bump.

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

The Canadian Press. All rights reserved.



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Federal money and sales taxes help pump up New Brunswick budget surplus

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FREDERICTON – New Brunswick’s finance minister says the province recorded a surplus of $500.8 million for the fiscal year that ended in March.

Ernie Steeves says the amount — more than 10 times higher than the province’s original $40.3-million budget projection for the 2023-24 fiscal year — was largely the result of a strong economy and population growth.

The report of a big surplus comes as the province prepares for an election campaign, which will officially start on Thursday and end with a vote on Oct. 21.

Steeves says growth of the surplus was fed by revenue from the Harmonized Sales Tax and federal money, especially for health-care funding.

Progressive Conservative Premier Blaine Higgs has promised to reduce the HST by two percentage points to 13 per cent if the party is elected to govern next month.

Meanwhile, the province’s net debt, according to the audited consolidated financial statements, has dropped from $12.3 billion in 2022-23 to $11.8 billion in the most recent fiscal year.

Liberal critic René Legacy says having a stronger balance sheet does not eliminate issues in health care, housing and education.

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

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Rent cap loophole? Halifax-area landlords defend use of fixed-term leases

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HALIFAX – Some Halifax-area landlords say fixed-term leases allow property owners to recoup operating costs they otherwise can’t under Nova Scotia’s rent cap.

Their comments to a legislative committee today are in reaction to plans by the government to extend the five per cent cap on rental increases to the end of 2027.

But opposition parties and housing activists say the bill’s failure to address fixed-term leases has created a loophole that allows large corporate landlords to boost rents past five per cent for new tenants.

But smaller landlords told a committee today that they too benefit from fixed-term leases, which they said help them from losing money on their investment.

Jenna Ross, of Halifax-based Happy Place Property Management, says her company started implementing those types of leases “because of the rent cap.”

Landlord Yarviv Gadish called the use of fixed-term leases “absolutely essential” in order to keep his apartments presentable and to get a return on his investment.

Unlike a periodic lease, a fixed-term lease does not automatically renew beyond its set end date. The provincial rent cap covers periodic leases and situations in which a landlord signs a new fixed-term lease with the same tenant.

However, there is no rule preventing a landlord from raising the rent as much as they want after the term of a fixed lease expires — as long as they lease to someone new.

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

The Canadian Press. All rights reserved.



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