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Does Canada need another pipeline?

Does Canada need another pipeline?

CBC30-05-2025
Coming up on Cross Country Checkup ...
As Canada's trade war with the US continues, Mark Carney says he wants to fast track a slew of big resource projects including pipelines.
Does Canada need another pipeline?
Plus, Support grows for mandatory school vaccination as measles cases continue to rise. What conversations are you having about measles vaccination? What questions do you have?
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When 90% Isn't an A+: Elevance's Cost Crunch and Carelon's Cushion
When 90% Isn't an A+: Elevance's Cost Crunch and Carelon's Cushion

Globe and Mail

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  • Globe and Mail

When 90% Isn't an A+: Elevance's Cost Crunch and Carelon's Cushion

Elevance Health, Inc. ELV, like most peers in the health benefits space, is contending with pressure from rising medical cost trends in ACA plans, slower Medicaid rate recovery, and higher utilization, prompting a reduction in its 2025 outlook. In the first half of the year, benefits expense surged nearly 18% to more than $72 billion, while cost of products sold climbed almost 19% to $10.3 billion. The second-quarter benefit expense ratio reached 88.9%, up 260 basis points year over year. Elevance now projects a full-year ratio of about 90%, versus 88.5% in 2024. This leaves a smaller share of premiums after paying claims, compressing margins. However, growth in the commercial segment and Carelon operations should offer support. Commercial individual memberships rose 9.7% in the first half of 2025, following a 25.6% increase in 2024. The broader commercial business, typically enjoying higher margins, is expected to sustain its expansion. Carelon's expanding value-based care model and pharmacy services will also provide a stabilizing influence. In the CarelonRx unit, growing adjusted scripts and acquisitions should drive performance, while operational gains in Carelon Health will aid the Carelon Services arm. Diversification efforts have boosted Carelon's overall revenue contribution, with segment growth of 12.4% in 2024 and a 36.8% jump in the first half of 2025. For full-year 2025, we expect it to advance nearly 30%, fueled by about 60% growth in Carelon Services alone. Together, Elevance's commercial strength and Carelon's diversified growth could help counterbalance margin pressures from elevated medical costs and funding challenges in government programs. How ELV's Peers Are Suffering? Companies like UnitedHealth Group Incorporated UNH and Centene Corporation CNC are also facing the brunt of rising medical costs. UNH's medical care ratio was 89.4% in the second quarter, which deteriorated 430 bps from the year-ago period. UnitedHealth reported Q2 adjusted EPS of $4.08, which missed the Zacks Consensus Estimate of $4.84. Meanwhile, Centene's health benefits ratio of 93% deteriorated 540 basis points year over year in the second quarter and came above the consensus mark of 90.82%. Centene reported adjusted loss per share of 16 cents in the second quarter, which missed the Zacks Consensus Estimate of earnings of 68 cents. Elevance's Price Performance, Valuation and Estimates Shares of ELV have lost 20.7% in the year-to-date period compared with the industry 's decline of 3.9%. From a valuation standpoint, Elevance trades at a forward price-to-earnings ratio of 9.19, down from the industry average of 14.57. ELV has a Value Score of A at present. The Zacks Consensus Estimate for Elevance's 2025 earnings is pegged at $30.59 per share, implying a 7.4% decline from the year-ago period. Image Source: Zacks Investment Research The stock currently carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. See our %%CTA_TEXT%% report – free today! 7 Best Stocks for the Next 30 Days Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Centene Corporation (CNC): Free Stock Analysis Report Elevance Health, Inc. (ELV): Free Stock Analysis Report This article originally published on Zacks Investment Research (

Cowichan title lands encompass multimillion-dollar mansions in Richmond, B.C.
Cowichan title lands encompass multimillion-dollar mansions in Richmond, B.C.

CBC

time25 minutes ago

  • CBC

Cowichan title lands encompass multimillion-dollar mansions in Richmond, B.C.

Social Sharing The stretch of semi-rural land on No. 6 Road in Richmond, B.C., is home to blueberry farms, multimillion-dollar mansions and an 18-hole golf course. Those Metro Vancouver properties are all now encompassed by a landmark Aboriginal title claim that was successfully established by the Cowichan Nation last week. The ruling in B.C. Supreme Court confirmed Cowichan Aboriginal title and fishing rights over the stretch of land on Lulu Island next to the south arm of the Fraser River, where the nation historically had a summer village and members fished for salmon. Now it is occupied by Crown and City of Richmond holdings — as well as private properties that include a 10,600- square-foot home with 11 bathrooms and an official valuation of $7.78 million, other multimillion-dollar homes and the Country Meadows Golf Course. WATCH | UVic prof says Supreme Court needs to weigh in on case: Supreme Court needs to determine relationship between Aboriginal title and private owners: UVic prof 19 hours ago The ruling by Justice Barbara Young says the Cowichan did not seek a declaration that private titles in the area were "defective and invalid," unlike those for the land owned by the Crown and city that makes up much of the claim. But the judge ruled the province has a duty to negotiate with the nation when it comes to the private land, whose titles were granted in what she called an unjustifiable infringement of the Cowichan's Aboriginal title. Lawyer David Robbins, who represented the Cowichan in the trial that lasted more than 500 days, said Tuesday that the nation did not bring its case against private titleholders "and did not seek to invalidate their interests in this case." "It is the Crown in right of British Columbia that has the legal relationship with the holders of private fee simple interests. 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Supreme Court decision that found in favour of the Cowichan Nation's bid to win back fishing rights and title for a portion of its historic lands in Richmond, B.C. Claire Palmer has more. Some other residents of No. 6 Road whose homes are within the Cowichan title lands said they were aware of the ruling, while others were not. One resident arriving at a home valued at more than $4.1 million said Tuesday that he would "fight" the ruling. He declined to be identified or to give a longer interview. Nearby, an elderly woman was selling blueberries outside a large stone home. She said in Mandarin that her son owned the home but she did not think he was aware of the ruling. At one of the most expensive homes in the neighbourhood, according to B.C. Assessment, a woman who was driving out of the property said it was owned by a friend who was in China. She said she was unaware of the court ruling.

LILLEY: Five moves Carney could make to unleash Canada's economy
LILLEY: Five moves Carney could make to unleash Canada's economy

Toronto Sun

timean hour ago

  • Toronto Sun

LILLEY: Five moves Carney could make to unleash Canada's economy

The threat from Trump is about more than tariffs, that's why Canada needs to move quickly to boost our own economy Get the latest from Brian Lilley straight to your inbox Prime Minister Mark Carney delivers opening remarks ahead of the Metis Major Projects Summit at the Royal Canadian Geographical Society in Ottawa, on Thursday, Aug. 7, 2025. THE CANADIAN PRESS/Spencer Colby Canada has immense potential that we haven't been realizing over the past decade. Mark Carney's new government has promised to make changes, but is going slower than what we need. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account If we aren't getting a deal with Donald Trump to lift tariffs any time soon, and it appears we're not, then we need to boost our economic growth elsewhere to compensate. Here are five key suggestions, with concrete examples of things we could be doing to truly unleash Canada's economy. Truly develop our resources Canada has an unrivalled abundance of energy, minerals, forests, and farmland. But thanks to endless delays, activist interference, and political cowardice, more than $670 billion in resource projects have been cancelled or stalled since 2015. That's a big number and may seem distant to most, but what it means is cancelled projects, delayed projects, and lost jobs and opportunity. The prime minister has promised to support projects of national importance, perhaps including pipelines, but 108 days after his election, almost four months later, we don't have a sense of what those projects are. To get them moving, Carney needs to announce a list of project he will support soon in order to attract investors and get started. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Enbridge and TC Energy have already announced that the bulk of their investment for the next budgetary year is going stateside due to regulatory uncertainty in Canada. We need to fix that fast. Get moving on infrastructure We've been talking about northern ports like the Grays Bay Road and Port project or the road to Ontario's Ring of Fire for years. These projects can't move ahead without the infrastructure to support them, but too often it has been federal red tape or a lack of interest stopping them. In passing Bill C-5, the Carney Liberals made it easier for some projects to move ahead, but like with resource development, things are moving too slow. Trump is moving at lightening speed to unleash the American economy, we need to catch up in order to compete. This advertisement has not loaded yet, but your article continues below. Read More Going back to at least the days of Sir Wilfrid Laurier, Canada's industrial policy has included being competitive with the Americans through lower corporate taxes. As Trump alters the American taxation landscape, we need to keep up, we need to eliminate some taxes, we need to be smarter about how we tax so that we encourage investment and growth. To accomplish this, the Carney government could implement these two simple measures: — Eliminate sector-specific taxes such as the 1.5% surtax on banks and life insurance companies, this discourages their investment in Canada. This advertisement has not loaded yet, but your article continues below. — Eliminate the capital gains tax for any individual or company that reinvests their profits in Canada. 'This will cause a boom in Canadian investment,' said Conservative Leader Pierre Poilievre in proposing the elimination of capital gains when funds are reinvested. 'We need to reward investment by letting people who sell one asset and reinvest the money in Canada to do so without capital gains tax.' Take control of government spending The Carney government is in a difficult spot. Spending under the Trudeau government was rising at a rate far above inflation and population growth. The size of the federal bureaucracy grew by 43% under the Trudeau government and no one believes their services are 43% better. Polling shows that most Canadians support cutting the budget and the size of the bureaucracy, so Carney has some leeway with the public which is good. This advertisement has not loaded yet, but your article continues below. Still, he's made many campaign promises and defence spending promises since. We need spending under control so that we can spend less on things like servicing the debt and more on the programs and ideas Canada needs to get the economy moving. Establish real Indigenous partnerships Despite some loud voices, most Indigenous Canadians want to build this country as well, but they also want a stake in our bright future. Move towards real reconciliation with equity ownership in projects that go through or touch on Indigenous lands, don't fight them, make them partners. Imagine how quickly things would move if that were the case. Bottom line We know what needs to be done in this country to unleash our economy, the question is do we still have the courage to do it? This advertisement has not loaded yet, but your article continues below. After a decade of the Trudeau government trying to suffocate Canada's main industries, many people, including those in government, may be cautious, a little gun shy, and that could include Carney. He shouldn't be — if Carney wants to be bold, he will have the backing of Canadians including Poilievre, who was essentially telling Carney to steal his ideas last week. As I've been saying since Trump's inauguration, his plan is about more than tariffs, it's about changing how the global economy works. To respond to that, we need to change how we operate in Canada and that will take bold ideas. Let's stop talking about being bold and do it. blilley@ Editorial Cartoons Crime Sunshine Girls Relationships Toronto Blue Jays

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