Calgary's $276M budget surplus has mayor asking questions
Calgary has had an average of $158 million in surpluses over the past decade. Mayor Jyoti Gondek says bureaucrats should be less conservative when drawing up budgets and more realistic about the money that's needed to balance the books.
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Globe and Mail
27 minutes ago
- Globe and Mail
ResMed: A Mixed Bag for Investors Amid Rising Competition
Explore the exciting world of ResMed (NYSE: RMD) with our expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities! *Stock prices used were the prices of May 7, 2025. The video was published on Jun. 10, 2025. Should you invest $1,000 in ResMed right now? Before you buy stock in ResMed, consider this: Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ResMed wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,341!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $874,192!* Now, it's worth noting Stock Advisor 's total average return is999% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
CBC
an hour ago
- CBC
Holland College questions fairness of province giving $2M grant only to UPEI
Social Sharing The president of Holland College is not happy that the P.E.I. government stepped in with a $2-million grant to the University of Prince Edward Island to cope with the loss of revenue from international tuition fees, but Holland College got nothing. "It doesn't seem fair... I support closely what the administration of UPEI is doing and I think that they are doing some cool things after a very difficult period of time, but no, it doesn't seem fair," said college president and CEO Sandy MacDonald. "I guess I'm qualifying my answer because I'm hoping the province will take the opportunity in the next fiscal year to balance things out, so I'm hoping it will be made fair." MacDonald has estimated that the international student population at the college will plummet by 85 per cent over the next two years as federal changes to student permits kick in, designed in part to relieve a nationwide housing crunch. From a high of 800 international students, Holland College enrolment is projected to fall to 140 students by September 2026. That means a huge drop in revenue, leading the college to phase out eight programs and lay off 25 staff. Three kilometres away from Holland College's main campus in Charlottetown, at the University of Prince Edward Island, officials have raised tuition fees and made some cuts. But they also received a one-time grant of $2 million from the Department of Workforce, Advanced Learning and Population to help offset the loss of international tuition fees, estimated at $3 million this year. It was included in UPEI's 2025-2026 budget as a line item called International Enrolment Reduction Support. UPEI's vice-president of administration and finance, Tim Walker, said it will be used for things like recruitment and retention, enrolment planning, and a hunt for new revenue streams. "This important support gives UPEI the opportunity to consider more options and take action during this fiscal year, ensuring we have a stronger foundation for the next budget planning cycle (2026-27)," Walker said in an email to CBC News. MacDonald said getting a similar $2 million would have made a huge difference to Holland College. "We have been underfunded for many years," he said. "We've made the argument many times. It goes back all the way to the auditor general's report from 1999; Wayne Murphy said at the time we had a structural deficit." Why the upfront cost is multiplying for international students on the Island 1 year ago Duration 3:59 Both UPEI and Holland College are increasing tuition deposits for international students. Lornie Hughes, the registrar at Holland College, explains why. Expected funding did not come in He said in 2023, the college and the province made a deal that would provide extra money over the next three fiscal years to help the college catch up with its deficit. Then it would go back to a lower funding level. The first year, Holland College did get a 9.5 per cent increase and $3 million more for its capital budget. This year, it was expecting the same. "We did not get that. We got a 6.5 per cent increase and half of the $3 million in capital," MacDonald said. "We were disappointed, but we understood the province is under financial constraints, so we had to accept that." Would the $2 million have made a difference in terms of those decisions? Of course it would. — Sandy MacDonald Then came the realization that UPEI had asked for — and gotten — the $2 million grant. "We've suspended eight programs, we've cut portions of three other programs," MacDonald said. "Those were the results of the deficit that we faced this fiscal year. So would the $2 million have made a difference in terms of those decisions? Of course it would." As for the future, MacDonald said the college will ask for — and hopefully get — some International Enrolment Reduction Support funding of its own for 2026-2027. "Certainly we will have a significant deficit again this year," he said. "I've spoken to the province since the budget come down and they've said, 'We're willing to work with you.' "So if UPEI was getting a one-time grant for this issue this year, certainly we would be hoping to get something similar for next year." Cuts at Holland College will affect all union members, UPSE president says afterweekend meeting 2 months ago Duration 2:16 The news came late Friday: Holland College said it would freeze some programs and downsize others because caps on international students have led to the P.E.I. college is taking in less money. Over the weekend, the president of the college met with union officials like Karen Jackson of UPSE (shown) to discuss what happens next, especially with the 35 jobs that will be affected. CBC's Stacey Janzer reports. Province's response CBC News reached out to the provincial government about the grant to UPEI and MacDonald's concerns. "Holland College did not receive funding in the 2025-26 academic year for an international enrolment reduction support grant," a spokesperson replied by email. "The province is working closely with post-secondary institutions to help address overall enrolment challenges and the impact of international student reductions... "All funding requests submitted to the province undergo a thorough review and consideration process. Holland College did receive a 6.5 per cent increase in its core operating funding for the 2025-26 academic year to help address operational needs.
Globe and Mail
an hour ago
- Globe and Mail
Canada invites Saudi Crown Prince to G7 summit
Canada has invited Saudi Arabian Crown Prince Mohammed bin Salman to the Group of Seven summit in Alberta this month, an extension of hospitality to a kingdom Ottawa once shunned after the 2018 murder of a dissident journalist who criticized its rulers. A source with knowledge of the matter confirmed the invitation and said there had been no response so far on whether Mr. bin Salman will attend the June 15-17 meeting in Kananaskis. The Globe and Mail is not identifying the source, as they were not authorized to speak publicly on the matter. Mr. bin Salman is not the only leader Canada is inviting in spite of a strained bilateral relationship. Prime Minister Mark Carney is welcoming Indian Prime Minister Narendra Modi even though Ottawa has publicly accused his government of playing a role in the 2023 murder of a Canadian citizen, Hardeep Singh Nijjar. The G7 summit is being held just outside Calgary. Here's who will be there and what these meetings achieve Saudi Arabia and India are not members of the G7 but hosts of gatherings of this annual political and economic forum for top industrialized countries often invite other national leaders to join. Mexican President Claudia Sheinbaum is also attending the summit in Alberta, as is Ukrainian President Volodymyr Zelensky. In 2018, Ottawa followed the United States in imposing sanctions on 17 Saudis for the slaying of dissident journalist Jamal Khashoggi. He was murdered in the kingdom's Istanbul consulate in October of that year when he entered to procure documents certifying a divorce. U.S. media, including the Washington Post, later reported that the CIA believes the Crown Prince ordered Mr. Khashoggi's killing – contradicting Riyadh's assertion that he was not involved in the murder. Canada's sanctions remain in place today. Canada and Saudi Arabia also suffered a major diplomatic rift for nearly five years starting in 2018 when Riyadh expelled Canada's ambassador after the department of Global Affairs and Chrystia Freeland, who was minister of foreign affairs at the time, publicly called for the immediate release of several imprisoned political activists in the kingdom. Riyadh also recalled its envoy, decrying what it said was 'blatant interference' in its internal affairs, and it froze new trade and investment with Canada. The Saudi embassy in Ottawa did not immediately return a request for comment on the invitation.
