Briefing highlights
- Canada boasts ‘livable’ cities
- Nissan chief resigns over pay
- Stocks, loonie, oil at a glance
- BA cancels flights amid strike
- Required Reading
Canada boasts ‘livable’ cities
Canada and Australia dominate the top in a ranking of the world’s most “livable” cities.
Each country has three in the top 10 of the Economist Intelligence Unit's annual study of 140 cities.
Calgary ranks No. 5 and Vancouver No. 6, while Toronto shares seventh spot with Tokyo. Montreal is also on the list, ranked No. 20.
The top findings are similar to those of last year, though Calgary has slipped one notch in the study of several factors, including stability, health care, culture and environment, education and infrastructure.
Vienna leads the rankings, with a score of 99.1 out of 100, followed by Melbourne, Sydney, Osaka and Calgary to round out the top five.
Calgary scored 97.5, Vancouver 97.3 and Toronto 97.2.
"Over all, our index remains dominated by medium-sized cities in wealthy countries," said the group, a sister company to The Economist magazine.
"These cities have well-funded public health care systems, compulsory and high-quality education, and functional road and rail infrastructure," it added.
"The provision of these services is assisted by the presence of fully democratic electoral systems and generally low levels of corruption."
The least livable cities include Karachi, Tripoli, Dhaka, Lagos and, at the bottom, Damascus.
Nissan chief resigns
Nissan Motor Co. chief executive officer Hiroto Saikawa resigned today after admitting and apologizing for receiving questionable compensation.
“Hiroto Saikawa had indicated recently his willing to resign,” Nissan said in a statement after a scheduled board meeting.
“After discussion, the board asked him to resign as representative executive officer and CEO of the company, effective Sept. 16, and he accepted.”
Yasuhiro Yamauchi, now chief operating officer, will become acting CEO, the company said.
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Oil prices rise with new Saudi minister
From Reuters: Oil prices rose on Monday after the new Saudi Arabian energy minister, Prince Abdulaziz bin Salman, confirmed expectations that there would be no radical change in his country’s oil policy.
BA cancels flights amid strike
From Reuters: British Airways pilots began a two-day strike Monday, grounding nearly all of its flights and disrupting thousands of passengers in a dispute over pay. The airline cancelled 1,700 flights to and from London’s Heathrow and Gatwick airports on Monday and Tuesday ahead of action by British Airline Pilots Association members in BA’s first ever pilot strike.
Wells Fargo sees slower net interest income
From Reuters: Wells Fargo said Monday it expects full year 2019 net interest income to fall 6 per cent from a year earlier due to lower interest rates, a flatter yield curve and asset sales.
Elliott urges AT&T to sell assets
From Reuters: AT&T Inc. shareholder Elliott Management Corp. on Monday called for the wireless carrier to sell some of its non-core businesses and cut costs in an effort to return more value to shareholders, sending its shares up 10 per cent.
U.S. judge rejects Purdue bid
From Reuters: The U.S. judge overseeing nationwide litigation concerning the opioid crisis on Monday rejected Purdue Pharma LP’s effort to dismiss claims that its activities caused a public nuisance.
Japan’s growth slower than believed
From Reuters: Japan’s economy grew at a slower pace than initially estimated in the second quarter as the U.S.-China trade war prompted a downward revision of business spending, intensifying calls for the central bank to deepen stimulus this month. The economy grew an annualized 1.3 per cent in April-June, revised Cabinet Office data showed Monday, weaker than the preliminary reading for 1.8 per cent.
Required Reading
Detached housing market in 905 breaks out of slump
Sales of detached houses in the suburban 905 region outside Toronto are leaping higher after a two-year slump, posting gains of 20 per cent or more in every month since April, Janet McFarland reports.
Whither Cenovus
Share buybacks could be the remedy for Cenovus Energy Inc.’s two-year hangover, Andrew Willis writes.
Look at international investing
The stay-at-home approach to investing isn’t as logical as Canadians may think, Ian McGugan says.