Nov. 24, 2017

Financial planning week: November 19-25

  • Congratulations to Dawn Hawley of the Angus Watt Advisory Group, recipient of the Fellow of FPSC Distinction for 2017. This is the first year only one recipient has been chosen by the Financial Planning Standards Council of Canada.
  • Families with millennial children:
    • 1/3 of parents feel a financial strain due to supporting millennial children.
    • 38% of parents say their millennial children are still dependent on them.
    • 33% expect to postpone retirement to help children with post-secondary education.
  • Women:
    • Women prioritize 1) financial security, 2) wealth accumulation, 3) investment performance
    • Women are more likely to be single later in life than men, due to divorce or partner’s death.
    • Canadian census estimated that nearly 1/3 of women lived alone in 2016.
    • Women, on average, live longer than men, and make less money over the course of their careers.

Suncor vs Union drug testing

  • Suncor plans to start random drug testing on December 1, 2017.
  • Unifor Local 707A, representing 3,000 workers in northern Alberta, has filed an “injunction” to be heard Nov. 30 to stop the random testing, arguing that it undermines personal rights and dignity.
  • On average, there are 8,000 people on site daily.
  • Suncor aims to reduce life-altering injuries, fatalities, and security incidents. Currently, drug testing is done after an accident or if reasonable cause is present.

Saudi Arabia (NBC Geopolitical Briefing by Angelo Katsoras)

  • Saudi Arabia’s Crown Prince Mohammed bin Salman is taking on the following monumental tasks all at once to create “absolute power”:
    • Aggressively consolidating his power via mass arrests before taking over from his father King Salman.
    • Transitioning away from oil-based economy.
    • Curtailing the power of the religious establishment.
    • Waging an intensified proxy war against Iran across the Middle East.
    • Saudi Arabia agreed to purchase $7billion worth of “precision guided munitions from U.S. defense contractors” (Reuters).

Tidbits

  • Alberta-based First Nation issues inaugural $545million Canadian bond to buy a 49% stake in an oil-storage facility owned by Suncor.
  • Royal Bank of Canada is now on the list of 30 global banks deemed “too big to fail”.
  • Airbus is developing a self-flying commercial jetliner to cut costs.
  • London’s double-decker red buses will be powered by biofuel made from old coffee beans.