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Canada added 378,000 mostly full-time jobs in September as COVID-19 case spike

October 9, 2020

Canada’s COVID-19 ravaged economy created 378,000 jobs in September, even as COVID-19 cases surged.

The bulk of them, 334,000, were full-time positions, according to Statistics Canada.

“The surprising advance was also heavily tilted toward the hard-hit services sector (+303K), particularly accommodation and food services, education, and information, culture and recreation, each of which had seen a significant impact from COVID-19,” said CIBC Economist Royce Mendes.

The strong month brings the unemployment rate down to 9 per cent from 10.2 per cent. It also brings the job market to within 720,000 jobs of its February pre-pandemic level.

The number of Canadians who were employed but worked less than half their usual hours due to the pandemic fell by 108,000. Of those who are still working their usual number of hours, work from home fell to 25.6 per cent from 26.4 per cent

Employment among core-aged women (25 to 54

Australia’s NAB admits to misleading clients in second ‘fees for no service’ case

October 7, 2020

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Video: Welfare groups say more money needed for income support (ABC NEWS)

Welfare groups say more money needed for income support

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By Paulina Duran

a sign in front of a tall building in a city: FILE PHOTO: The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney

© Reuters/DAVID GRAY
FILE PHOTO: The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney

SYDNEY (Reuters) – National Australia Bank , the country’s third largest lender, has admitted to misleading customers more than a thousand times in a lawsuit accusing its financial planners of charging fees for no service, according to court documents.

According to an Oct. 2 document on agreed statements of facts and admissions filed with the Federal Court, the bank admitted to some but not all of the accusations levelled at it by the Australian Securities and Investments Commission (ASIC).

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NAB clients received written statements that contained service representations that were “misleading or deceptive or likely to mislead or

The Joint Corp.: A Niche Play In The Wellness Trend, With A Rewarding Investment Case (NASDAQ:JYNT)

October 7, 2020

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A little more than a year ago, we covered The Joint Corp. (JYNT), a small-cap specialized franchisor of chiropractic clinics in the United States. The company initially grabbed our attention because of its snowballing expansion over the past few years, causing shares to jump from $2 to $20 during a relatively short period of time.

Source: Google Finance

We are particularly interested in franchises with the potential to scale, as many successful brands have utilized this type of business model to grow rapidly, with limited capital intensity. We have previously discussed such cases in our recent Domino’s Pizza and Dunkin’ Brands articles.

In this article, we will:

Discuss The Joint Corp.’s business model and financials.
Assess the stock’s valuation and investor returns.
Conclude why The Joint Corp. could provide a profitable investment opportunity, though risks remain.

Source: shesafitchick

Business model and financials

Over the past few years, The Joint Corp.

U.K. Taxpayers’ Pandemic-Loan Losses Could Hit 80% in Worst Case

October 7, 2020

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(Bloomberg) — Amid a punishing recession, defaults and fraud, U.K. taxpayers might face losses of 80% from the coronavirus lending program supporting small business.

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In the most detailed assessment to date of Chancellor of the Exchequer Rishi Sunak’s Bounce Back Loan Scheme, the National Audit Office said Wednesday that the worst-case loss estimate had increased from 60%, stoked by the potential for the Covid-19 crisis to last longer and take a greater toll on the economy.

The state watchdog compiled figures from various arms of the U.K. government and assumed smaller businesses will have borrowed about 43 billion pounds ($56 billion) — the midpoint of a range of estimates — through the program by its Nov. 30 deadline. An 80% loss, accounting for both defaults and fraud, on those loans — made overwhelmingly through Britain’s Big Five banks — would equal 34 billion pounds, or about $44 billion.

Ronaldo rape case – US judge to hear arguments over hush-money agreement

October 6, 2020

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Cristiano Ronaldo’s legal fight against a woman who accuses the international soccer star of raping her in his suite at a Las Vegas resort more than 10 years ago is heading toward a trial before a federal judge in Nevada.

No date was immediately set, but U.S. District Judge Jennifer Dorsey said she will hear arguments and decide herself whether Kathryn Mayorga was mentally fit to enter a 2010 hush-money agreement with Ronaldo’s representatives that paid Mayorga $375,000.

Ronaldo’s attorney, Peter Christiansen, declined to comment on Tuesday.

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Mayorga’s lawyers, led by Leslie Mark Stovall, did not immediately respond to email and telephone messages about the judge’s ruling, issued Sept. 30.

Dorsey wrote that a court should decide whether Mayorga “lacked the mental capacity” to sign a confidentiality arrangement with Ronaldo’s representatives and “whether any agreement … was ever formed between the parties.”

It was not immediately clear whether

Case preview: Defining “relatedness” in personal jurisdiction

October 6, 2020

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From 1990 until 2010, the Supreme Court decided no cases about personal jurisdiction, the legal doctrine controlling when a defendant can be made to litigate within a state. For perspective, Justice David Souter joined the court in fall 1990 and retired in summer 2009 without hearing one personal-jurisdiction case. Since 2010, however, personal jurisdiction has become a hot issue on the court’s docket. The latest case, Ford Motor Co. v. Montana Eighth Judicial District (consolidated with Ford Motor Co. v. Bandemer), considers whether state courts in Montana and Minnesota have personal jurisdiction over two lawsuits against Ford, which sells cars in both states but manufactured and sold the specific cars at issue out-of-state. The court rescheduled this case from last term and will hold telephonic argument on Wednesday.

Background

Ford Motor Co. is headquartered in Michigan and incorporated in Delaware. It designs and manufactures automobiles, which it sells to

Rochester mayor in campaign finance case pleads not guilty

October 6, 2020

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Rochester, N.Y., Mayor Lovely Warren (D) pleaded not guilty to felony campaign finance charges during an arraignment Monday.

Warren’s lawyer Joseph Damelio entered the mayor’s plea on her behalf during her arraignment in Monroe County Court. He said Warren did not purposefully break any campaign laws and was not preparing to resign as “her ability to govern has not been impaired,” The Associated Press reported.

“She welcomes the opportunity for the public to see whether the district attorney’s charges hold water,” Damelio told reporters.

Warren along with two associates were indicted on Friday on charges of scheming to defraud and violating election laws. Her campaign treasurer, Albert Jones Jr., and Rosalind Brooks-Harris, the treasurer of the PAC that supported the mayoral candidate, also both pleaded not guilty.

The three allegedly made moves to evade contribution limits between Nov. 6, 2013 and Nov. 7, 2017.

If the mayor is convicted,

Rochester mayor pleads not guilty in campaign finance case

October 6, 2020

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ROCHESTER, N.Y. (AP) — Rochester Mayor Lovely Warren, who has faced calls to resign over her city’s handling of the suffocation death of Daniel Prude at the hands of police, pleaded not guilty Monday to campaign finance charges dating to her 2017 reelection campaign.

Rochester Mayor Lovely Warren walks out of city court after her arraignment in Rochester, N.Y., Monday, Oct. 5, 2020. Warren, who has faced calls to resign over her city's handling of the suffocation death of Daniel Prude at the hands of police, pleaded not guilty Monday to campaign finance charges dating to her 2017 reelection campaign. (AP Photo/Adrian Kraus)

© Provided by Associated Press
Rochester Mayor Lovely Warren walks out of city court after her arraignment in Rochester, N.Y., Monday, Oct. 5, 2020. Warren, who has faced calls to resign over her city’s handling of the suffocation death of Daniel Prude at the hands of police, pleaded not guilty Monday to campaign finance charges dating to her 2017 reelection campaign. (AP Photo/Adrian Kraus)

A lawyer for the second-term mayor, a Democrat, entered the plea on her behalf. Warren had been indicted Friday by a grand jury on charges of scheming to defraud and violating election laws.

Warren’s lawyer says she did not intentionally break any

FCA insurance test case appeal heads to Supreme Court

October 2, 2020

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By Kirstin Ridley, Carolyn Cohn

LONDON (Reuters) – A test case brought by Britain’s markets regulator against some of the world’s biggest insurers will jump straight to the Supreme Court after London’s High Court agreed to a fast-track appeal on Friday.

Although expedited, the appeal will further delay payouts on disputed claims for thousands of struggling businesses battered by the coronavirus pandemic, hoping for a speedy payout after a judgment delivered two weeks ago.

At a webcast hearing on Friday, judges allowed the case to leapfrog to the UK’s highest court, which is expected to consider it by year-end.

The Financial Conduct Authority (FCA) brought a case against eight insurers in June to clarify whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000 policyholders and billions in insurance claims, covered disruption and government-ordered closures to curb the virus.

Judges examined policy wordings that cover business interruption

UPDATE 1-London court fast-tracks FCA insurance test case appeal to Supreme Court

October 2, 2020

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By Kirstin Ridley, Carolyn Cohn

(Adds details, background)

LONDON, Oct 2 (Reuters) – London’s High Court on Friday approved a fast-track appeal of an unprecedented test case against some of the world’s biggest insurers, brought by Britain’s markets regulator, allowing it to leapfrog straight into the Supreme Court.

The decision was expected, but nevertheless spells further delays for thousands of struggling businesses battered by the coronavirus pandemic, who had hoped a judgment delivered two weeks ago would lead to prompt payment of disputed claims.

At a webcast hearing on Friday to hammer out how judges should word court orders to reflect and distil last month’s complex, 160-page judgment, judges approved the necessary certificate to allow the highest court to consider the case.

The Financial Conduct Authority (FCA) brought a case against eight insurers in June to clarify whether 21 policy wordings, affecting potentially 700 types of policies, 60 insurers, 370,000

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