Rite Aid Continues Debt Refinancing – Analyst Blog
Drugstore chain retailer, Rite Aid Corporation (RAD) has come up with its second refinancing scheme in this month, commencing a $400 million senior notes offering maturing in 2021. The company plans to use the proceeds from this offering along with its existing cash and borrowings to redeem an equivalent amount of senior notes bearing an [...]
Astronaut Chris Hadfield adjusts to ‘earthling’ life
Canada’s space ambassador, Chris Hadfield, is still readapting to life on this planet after spending 146 days in zero gravity as commander of the International Space Station. For now, though, he’s taking his homecoming one step at a time. “Just learning to walk—- that’s enough,” Hadfield said of the “bizarre” experience of being back on [...]
Wynne says budget defeat would force ‘unnecessary’ election
If opposition parties vote down the coming Ontario budget, it would plunge the province into an “unnecessary” election that the Liberals are ready to fight, Premier Kathleen Wynne said Wednesday. The Ontario government is due to table its budget in eight days with the minority Liberals needing support from some opposition members in order for [...]
Fitch downgrades U.K. credit rating to AA+
FitchRatings has downgraded the U.K.’s foreign and local currency issuer default rating to AA+ from AAA on Friday, saying it reflects the country’s weaker economic and fiscal outlook. “Higher than previously projected budget deficits and debt primarily reflects the weak growth performance of the U.K. economy in recent years, partly due to headwinds of private [...]
NEB hearings application form called undemocratic
The National Energy Board is changing its rules for participation in public hearings, starting with its hearings in August into the reversal of a pipeline that runs through Ontario to Montreal. Potential participants or letter writers for the hearings into the Line 9b reversal will have to complete a 10-page application form before the NEB [...]
U.S. economy expands at 0.4% rate
The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending. The economy grew at an annual rate of 0.4 per cent in the October-December quarter, the Commerce Department said [...]
Approved: Paying Online Sales Tax
The U.S. Senate, Friday, approved a budget amendment sponsored by Sen. Lamar Alexander (R-Tenn.). Senator Alexander’s amendment allows states to collect sales taxes on purchases made from Internet-based retailers even if the retailer has no physical presence in that state.Current PracticeCurrently, online retailers have to collect sales taxes on purchases made by consumers who live [...]
Flaherty, ministers fan out to promote budget
As debate on the federal budget began in the House of Commons, Finance Minister Jim Flaherty and other cabinet ministers fanned out across Canada Friday to sell the merits of their 2013 Economic Action Plan. Flaherty headed west to speak at the Vancouver Board of Trade at 12:50 p.m. PT (3:50 p.m. ET). From there, [...]
Quebec: We want out of this new federal skills program
By The Canadian Press QUEBEC - The Quebec government has formally requested to be excluded from the new federal skills-training program. The province’s pro-independence government is particularly livid about the budget, and has held two news conferences 18 hours apart in order to blast it. It stresses that labour training was transferred to the provinces [...]