A $7.2 Billion Emerging Market Fund Amps Up Local Debt Bet
Exposure to local debt in Massachusetts Financial Services ' $7.2 billion fund has grown to more than 5% since May, more than twice the average it held over the past decade, according to portfolio manager Neeraj Arora.
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Marooned by Air Canada flight attendant strike? Here are your options
You were planning to catch a flight and the dreaded text pops up on your phone: your flight has been cancelled. Now what? More than 10,000 Air Canada flight attendants are off the job after a strike deadline passed Saturday without a deal. The airline had already cancelled 500 flights on Friday in anticipation of the full stoppage and all flights will be halted during the work stoppage. Air Canada has said that, in the event of a strike, it would try and book customers on another flight, including those operated by other carriers. "However, available capacity on our airline and on other carriers is limited due to the summer travel peak, meaning the possibility of rebooking you within an acceptable time frame is low," Air Canada said in an online notice Friday. "If your travel is disrupted, you can always choose a refund." Before the stoppage, Air Canada had offered free flight changes to customers booked between Aug. 15 and 18 and travel credits for any unused non-refundable fares. Personal finance and travel expert Barry Choi had planned to travel home from Europe next week on Air Canada. He said he's confident a deal will be worked out before his return trip on Aug. 22, but he came up with a contingency plan anyway. "I personally booked a backup flight just in case, in the worst, worst case scenario," he said from Rotterdam, Netherlands. Choi said he did so because he had the luxury of ample loyalty rewards to afford a transatlantic flight much pricier than the one he initially booked. Getting back was also time sensitive — his wife has tickets to an Oasis concert back home two days after their scheduled arrival. If not for that, they may have stayed longer. "I know not everyone has that luxury, but just having a backup plan is good to know, even if you don't want to book that flight right away," said Choi. Doing some research and finding three or four backup flight options with Air Canada partners is a good idea when you're finally able to get on the line with an agent. "The more information you can provide the agents when you get hold of them, the better your odds. So always just be prepared," said Choi, advising anyone with travel booked further out into September to just sit tight for now. He adds that travellers should look into the details of their credit card travel insurance "inside out" right away to find out what expenses are covered, and what aren't, if it takes a few days to line up a flight home. Choi recalls being taken aback a few years ago when he booked a hotel stay to cover a flight delay only to find out after he made the claim that his insurance only covered $100 a night. It's also worth looking into whether a policy will cover travel to an alternative airport — taking a train to fly out of Edinburgh, Scotland, back to Canada instead of London Heathrow, for example. "Just knowing what you're entitled to, keeping those receipts and making a submission in time will greatly help you reduce your costs overall." Lesley Keyter, founder and CEO of Calgary travel agency The Travel Lady, said insurance may cover disruptions due to labour action, provided it wasn't a "known event" when the policy was purchased. "If you're thinking now, 'Oh, next week I want to go somewhere and I'll just take out travel insurance and that will cover me,' that won't happen," she said. Keyter also cautions that any reimbursements for extended stays won't arrive quickly. "It's going to take a while for that to go through the whole machinery, so you have to have that cash on you to be able to afford those extra costs in-destination." For those with flights connecting to a cruise or tour, it could get tricky. It's fairly straightforward if the airfare was booked through a cruise line. Not so when they're booked separately. "If you just booked an air ticket yourself with Air Canada flying across to Rome and then maybe you're jumping on a cruise ship, that's two completely separate tickets and the cruise line does not care about Air Canada having the strike," said Keyter. "If you're going on a cruise or a tour or there's an occasion, a date that has to be stuck to, get there a day or so earlier so it gives you a little bit of wiggle room in case things like this happen." This report by The Canadian Press was first published Aug. 16, 2025. Lauren Krugel, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 minutes ago
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Air Canada cabin staff go on strike, grounding hundreds of flights
MONTREAL (Reuters) -Air Canada's unionized flight attendants walked off the job early on Saturday morning after contract talks with the country's largest carrier stalled, in a move that could disrupt travel plans for more than 100,000 passengers. The union representing more than 10,000 Air Canada flight attendants confirmed the action in a social media post at around 0100 ET in the first strike by cabin crew since 1985. Attendants are currently paid when the plane is moving and the union was seeking to also be compensated for time on the ground between flights and helping passengers board. Montreal-based Air Canada, which is expected to respond quickly by locking out the workers, has said it anticipated canceling 500 flights by the end of Friday during the busy summer travel season. It expected around 100,000 people to be affected on Friday alone. Flight attendants are likely on Saturday to picket at major Canadian airports, where passengers were already trying to secure new bookings earlier in the week, as the carrier gradually wound down operations. Passenger Freddy Ramos, 24, said on Friday at Canada's largest airport in Toronto that his earlier flight was cancelled due to the labor dispute and he had been rebooked by Air Canada to a different destination. "Probably 10 minutes prior to boarding, our gate got changed and then it was cancelled and then it was delayed and then it was cancelled again," he said. Air Canada and its low-cost affiliate Air Canada Rouge normally carry about 130,000 customers a day. Air Canada is also the foreign carrier with the largest number of flights to the U.S. While the dispute has generated support from passengers on social media for the flight attendants, Canadian businesses reeling from a trade dispute with the United States urged the federal government to impose binding arbitration on both sides, which would end the strike. Air Canada has asked the minority Liberal government of Prime Minister Mark Carney to order both sides into binding arbitration although the Canadian Union of Public Employees, which represents the attendants, said it opposed the move. The Canada Labour Code gives Jobs Minister Patty Hajdu the right to ask the country's Industrial Relations Board to impose binding arbitration in the interests of protecting the economy. Hajdu has repeatedly urged the two sides, which are not bargaining, to return to the table. The union has said Air Canada offered to begin compensating flight attendants for some work that is now unpaid but only at 50% of their hourly rate. The carrier had offered a 38% increase in total compensation for flight attendants over four years, with a 25% raise in the first year, which the union said was insufficient. In a note to clients on Friday, analysts at financial services firm TD Cowen urged the carrier to "extend an olive branch to end the impasse," adding that investors are worried that any cost savings on labor are outweighed by lost earnings in the airline's most important quarter. "We think it would be best for AC to achieve labor peace," the note said. "Not budging on negotiations risks being a Pyrrhic victory." Sign in to access your portfolio
Yahoo
5 minutes ago
- Yahoo
Air Canada flight attendants walk off the job as strike begins
More than 10,000 Air Canada flight attendants went on strike as of 12:58 a.m. ET Saturday, after the airline and the union representing them failed to reach a deal ahead of the deadline. The Canada Union of Public Employees, or CUPE, gave a 72-hour strike notice on Wednesday after midnight. Air Canada responded shortly after by saying it would lock out workers, and began winding down operations on Thursday with a gradual suspension of flights. With a work stoppage now in effect, Air Canada estimates that 130,000 customers will be affected each day of a strike, a figure that includes 25,000 Canadian travellers who are abroad. The strike began after talks between CUPE and Air Canada reached an impasse, with wages and ground pay — which compensates flight attendants for work while the plane is grounded — among the key sticking points keeping the parties from reaching a deal. Earlier this week, Air Canada formally proposed to CUPE that the parties use binding arbitration to negotiate the renewal of a 10-year collective agreement that expired in March. CUPE declined to use arbitration, a process that would have an arbitrator render a decision about specific items the parties can't agree on. CUPE has maintained it wants to stay at the negotiating table and have the two sides come to an agreement themselves. Air Canada asked federal Jobs Minister Patty Hajdu to make a referral under Section 107 of the Canada Labour Code to send the negotiations to binding interest arbitration. Hajdu gave CUPE until noon on Friday to respond, and they declined. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
