Israel’s other war: Boycotts emerge as big threat | Toronto Star

July 20, 2015 at 10:59 (israel) ()

Israel’s other war: Boycotts emerge as big threat | Toronto Star.

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Oil patch opportunities and longterm liabilities drove Teachers’ $3.3 billion deal with Cenovus

July 2, 2015 at 08:24 (Uncategorized)

Financial Post

Like many large institutional investors looking to offset the impact of chronically low interest rates on longterm liabilities, the Ontario Teachers’ Pension Plan set its sights on opportunities in Alberta’s oil patch when oil prices slumped.

That interest culminated in a $3.3-billion deal Tuesday in which Teachers’ will pick up the broad portfolio of oil and gas royalties held in the Heritage Royalty Limited Partnership subsidiary of Calgary-based Cenovus Energy Inc.

The deal has many of the characteristics Teachers’ and other large pension funds seek out to manage their longterm liabilities, such as providing recurring revenues over many years.

Royalty owners contract with oil and gas operators and are paid based on production. In 2014, HRP had revenues of approximately $320 million based on average production of approximately 14,800 barrels of oil equivalent per day.

The acquisition also offers Teachers’ a hedge against unexpected inflation because royalty property cash flows are correlated to…

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The Revolution in Rojava | Dissent Magazine

June 27, 2015 at 12:05 (kurdistan, YPG/YPJ) ()

The Revolution in Rojava | Dissent Magazine.

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Are Leftist, Feminist Kurds About to Deliver the Coup de Grâce to ISIL in Syria? | The Nation

June 27, 2015 at 11:33 (IRAQ, islamicstate, syria) ()

Are Leftist, Feminist Kurds About to Deliver the Coup de Grâce to ISIL in Syria? | The Nation.

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Why Operation Jade Helm 15 is freaking out the Internet — and why it shouldn’t be – The Washington Post

June 23, 2015 at 10:54 (america) ()

Why Operation Jade Helm 15 is freaking out the Internet — and why it shouldn’t be – The Washington Post.

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Chris Hedges: America’s Electoral Farce – Chris Hedges – Truthdig

June 17, 2015 at 14:02 (activism) ()

Chris Hedges: America’s Electoral Farce – Chris Hedges – Truthdig.

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AIG bailout trial ruling criticizes government but awards no damages – The Globe and Mail

June 15, 2015 at 19:38 (tooBIGtoofail) ()

AIG bailout trial ruling criticizes government but awards no damages – The Globe and Mail.

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Bond crash is so crazy BlackRock Inc is ripping up its risk models

June 15, 2015 at 15:13 (Uncategorized)

Financial Post

With US$4.8 trillion in assets — or about the size of Japan’s economy — no one manages more money than BlackRock Inc. So, it’s worth paying attention when the firm says it’s time to cast aside its trusted models for assessing risk in bonds.

[np_storybar title=”Worst bond crash in almost 30 years is early warning of turmoil to come” link=”http://business.financialpost.com/investing/worst-bond-crash-in-30-years-is-early-warning-of-turmoil-to-come”]
The $1.2 trillion meltdown in just three months is an early sign that it will not be easy to wean the world off six years of zero rates — and central banks have used up their arsenal. Read on
[/np_storybar]

The gyrations gripping the world’s fixed-income market are so great that it’s almost impossible to make sense of them on a historical basis. In Germany, for example, yields on 10-year securities have surged from almost nothing in late April to about 1 per cent last week — a move so…

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Scientists push to renew psychedelic drug research for psychiatry – Home | The Current with Anna Maria Tremonti | CBC Radio

June 9, 2015 at 09:26 (brainFOOd) ()

Scientists push to renew psychedelic drug research for psychiatry – Home | The Current with Anna Maria Tremonti | CBC Radio.

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The world economy is starting to look a lot like the Titanic, HSBC chief economist warns

May 14, 2015 at 18:00 (Uncategorized)

Financial Post

Like the ill-fated White Star liner, the global economy is sailing across the ocean with too few lifeboats and an iceberg looming on the horizon, warns HSBC chief economist Stephen King.

And that’s going to be a titanic problem for global policy makers.

It’s been six years since the last U.S. recession and though they don’t come like clockwork, King says we are closer to the next one than the last one.

But unlike past downturns, the weak recovery from the last recession has not allowed monetary policymakers to replenish their arsenals.

The chart below shows the average annual U.S. growth rates during the six years after a recession over the past 40 years. The latest recovery is particularly weak, King notes.

chart2

Budget deficits are still huge, debt levels too high and while the U.S. economy has improved it’s far from top form.

In every recession since the 1970s, the…

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