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National Post
21 minutes ago
- National Post
Transition Industries Signs Heads of Agreement with Bonatti S.p.A for Critical Infrastructure on Pacifico Mexinol Project
HOUSTON — Transition Industries LLC, a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects, signed a Heads of Agreement contract with Bonatti, an international contractor specializing in the energy sector, for critical infrastructure on the Pacifico Mexinol project in Sinaloa, Mexico. THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. SUBSCRIBE FOR MORE ARTICLES Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. 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 'This is a great opportunity to combine Bonatti's global expertise with our strong local experience, and to contribute meaningfully to the development of Ahome, Sinaloa, and Mexico.' Pacifico Mexinol is poised to be the world's largest standalone ultra-low carbon chemical production facility in the world, with an output of 6,130 metric tons of methanol (MT) per day. Under the terms of the Heads of Agreement, which includes a lump sum binding price, Bonatti will be responsible for the detailed engineering, procurement, construction, pre-commissioning, commissioning, and startup for the upgrade of the port facilities and jetty at the Terminal Transoceánica de Topolobampo, S.A. de C.V. ('TTT') port area where all methanol loading operations for export will occur. Bonatti will also be responsible for detailed engineering, procurement, construction, pre-commissioning, commissioning, and startup of the methanol transfer and vapor recovery underground pipelines and dual fiber optic cables between the Methanol main process plant and the Mexinol port site. The agreement also provides Bonatti with the opportunity to build the project's closed-loop water pipeline system from the JAPAMA oxidation pools to the site, making the Pacifico Mexinol site one of the world's largest applications of industrial water reuse from municipal effluent. This system treats and recycles municipal wastewater for all project needs in order to avoid tapping into freshwater sources or negatively impacting the Bay of Ohuira, thereby reducing the project's environmental impact. Balmore Brito, Pacifico Mexinol Project Director and Head of Engineering and Technology for Transition Industries said: 'We are proud to have Bonatti, a world-leader in pipeline EPCs, as part of our execution team. Their international expertise coupled with their local field experience and knowledge operating in Ahome Municipality, Sinaloa, is good for the project and the local communities near where we operate. Bonatti shares our unwavering commitment to environmental and social sustainability.' Gustavo Blejer, Bonatti's Commercial Director for the Americas, said: 'We are thrilled to be part of this flagship project, which marks an important step toward decarbonization. This is a great opportunity to combine Bonatti's global expertise with our strong local experience, and to contribute meaningfully to the development of Ahome, Sinaloa, and Mexico.' Transition Industries is jointly developing Pacifico Mexinol with the International Finance Corporation (IFC), a member of the World Bank Group. When it initiates operations in 2029, Pacifico Mexinol is expected to be the largest single ultra-low carbon methanol facility in the world – producing approximately 350,000 MT of green methanol and 1.8 million MT of blue methanol annually from natural gas with carbon capture. ABOUT TRANSITION INDUSTRIES , based in Houston, Texas, is a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects in North America to address climate change and promote environmental and social sustainability. For additional information about Pacifico Mexinol or Transition Industries, email Bonatti is an international contractor with over 80 years of experience in the energy and mining sectors. The company's expertise covers the full project lifecycle—from engineering, procurement, and construction to the operation and maintenance of plants and pipelines. Bonatti is actively engaged in the energy transition and water sustainability sectors. Ongoing projects include carbon capture, hydrogen, biofuel, and solar power plants, as well as water infrastructure developments designed to reduce freshwater use in mining operations. With operations spanning Canada, Mexico, and Chile, Bonatti has established a strong presence across the Americas. Having generated USD 2.5B+ in cumulative revenues, the company is recognized as Mexico's leading midstream contractor. For more information, visit View source version on Transition Industries Press Relations Karin Nunan Head of Corporate Affairs knunan@

National Post
21 minutes ago
- National Post
Fitch Learning Agrees to Acquire Moody's Analytics Learning Solutions and the Canadian Securities Institute
Article content NEW YORK — Fitch Learning, a global leader in financial learning and professional certifications, today announced it has signed an agreement with Moody's to acquire two of their businesses, Moody's Analytics Learning Solutions (MALS), a global provider of credit training and the Canadian Securities Institute (CSI), a leading provider of professional certifications for the Canadian financial services industry. Article content The acquisition will enhance the customer experience by offering a broader array of financial services career development and professional certifications, including learning solutions for commercial banking, consumer banking and investment management. Article content 'This agreement reinforces our commitment to meeting a growing demand for upskilling and continued professional development in the financial services sector. As organizations increasingly invest in learning and development to boost employee retention and staff capabilities, our solutions will help empower their teams, and ultimately drive organizational growth,' said Andreas Karaiskos, Chief Executive Officer, Fitch Learning. Article content The terms of the transaction were not disclosed. The acquisition is expected to close in the fourth quarter following the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals. Article content 'This acquisition represents a pivotal step in our commitment to equipping finance professionals with the knowledge and skills required for an increasingly complex marketplace. Through this transaction, we are expanding the boundaries of financial education and delivering greater value and opportunity worldwide. We look forward to continuing to serve our students and clients and to welcoming new members to the Fitch Learning community,' concluded Mr. Karaiskos. Article content Fitch Learning partners with its clients to deepen knowledge, develop skills, and enhance conduct by delivering positive business outcomes. With centers in established financial hubs including New York, Toronto, London, Dubai, Riyadh, Singapore, and Hong Kong, it is committed to understanding complex client needs across fast-paced financial markets globally. Fitch Learning's portfolio includes the Certificate in Quantitative Finance Institute (CQFi), a leading provider of advanced quantitative finance education, and the Global Institute of Credit Professionals, dedicated to advancing excellence in credit education and standards worldwide. Fitch Learning is part of Fitch Group, a global leader in financial information services with operations in 30 countries. To learn more about how Fitch Learning develops the world's financial professionals, visit Article content Article content Article content Article content Article content Contacts Article content Media Contacts: Article content Article content Alayna Francis Article content Article content Article content


Globe and Mail
21 minutes ago
- Globe and Mail
Schwab Reports Monthly Activity Highlights
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of July 2025 include: This press release features multimedia. View the full release here: Core net new assets brought to the company increased 62% versus July 2024 to reach $46.9 billion – a record for the month of July. Total client assets equaled $10.96 trillion as of month-end July, up 15% from July 2024 and up 2% compared to June 2025. New brokerage accounts opened during the month totaled 377,000 up 15% versus July 2024. Investor engagement remained robust in July, with average client margin loan balances expanding 4% month-over-month and trading volumes exceeding 7 million daily average trades for the 7 th consecutive month. Transactional sweep cash declined by $4.6 billion to end July at $407.5 billion, reflecting client net purchasing activity as well as typical seasonality related to advisory fee payments. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 37.7 million active brokerage accounts, 5.6 million workplace plan participant accounts, 2.1 million banking accounts, and $10.96 trillion in client assets as of July 31, 2025. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at The Charles Schwab Corporation Monthly Activity Report For July 2025 2024 2025 Change Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Mo. Yr. Market Indices (at month end) Dow Jones Industrial Average ® 40,843 41,563 42,330 41,763 44,911 42,544 44,545 43,841 42,002 40,669 42,270 44,095 44,131 - 8 % Nasdaq Composite ® 17,599 17,714 18,189 18,095 19,218 19,311 19,627 18,847 17,299 17,446 19,114 20,370 21,122 4 % 20 % Standard & Poor's ® 500 5,522 5,648 5,762 5,705 6,032 5,882 6,041 5,955 5,612 5,569 5,912 6,205 6,339 2 % 15 % Client Assets (in billions of dollars) Beginning Client Assets 9,407.5 9,572.1 9,737.7 9,920.5 9,852.0 10,305.4 10,101.3 10,333.1 10,280.2 9,929.7 9,892.2 10,349.0 10,757.3 Net New Assets (1) 29.0 31.5 30.3 22.7 25.5 60.2 30.5 46.6 55.3 1.1 33.6 38.9 45.7 17 % 58 % Net Market Gains (Losses) 135.6 134.1 152.5 (91.2 ) 427.9 (264.3 ) 201.3 (99.5 ) (405.8 ) (38.6 ) 423.2 369.4 160.5 Total Client Assets (at month end) 9,572.1 9,737.7 9,920.5 9,852.0 10,305.4 10,101.3 10,333.1 10,280.2 9,929.7 9,892.2 10,349.0 10,757.3 10,963.5 2 % 15 % Core Net New Assets (1,2) 29.0 32.8 33.5 24.6 28.8 61.4 30.6 48.0 59.1 2.7 35.0 42.6 46.9 10 % 62 % Receiving Ongoing Advisory Services (at month end) Investor Services 649.1 663.7 675.1 665.6 688.9 682.0 698.7 703.5 688.8 688.2 711.2 737.6 747.9 1 % 15 % Advisor Services 4,185.4 4,268.1 4,343.8 4,303.3 4,489.2 4,379.7 4,496.6 4,493.2 4,372.3 4,353.0 4,525.6 4,687.4 4,765.1 2 % 14 % Client Accounts (at month end, in thousands) Active Brokerage Accounts 35,743 35,859 35,982 36,073 36,222 36,456 36,709 36,861 37,011 37,254 37,375 37,476 37,658 - 5 % Banking Accounts 1,937 1,940 1,954 1,967 1,980 1,998 2,019 2,033 2,050 2,066 2,077 2,096 2,116 1 % 9 % Workplace Plan Participant Accounts (3) 5,382 5,373 5,388 5,407 5,393 5,399 5,450 5,464 5,495 5,518 5,563 5,586 5,619 1 % 4 % Client Activity New Brokerage Accounts (in thousands) 327 324 321 331 357 431 433 362 388 439 336 323 377 17 % 15 % Client Cash as a Percentage of Client Assets (4) 9.6 % 9.5 % 9.5 % 9.8 % 9.5 % 10.1 % 9.8 % 10.0 % 10.6 % 10.5 % 10.1 % 9.9 % 9.7 % (20) bp 10 bp Derivative Trades as a Percentage of Total Trades 21.2 % 20.8 % 21.5 % 21.4 % 19.7 % 18.6 % 19.3 % 19.9 % 19.5 % 18.4 % 21.0 % 20.8 % 21.3 % 50 bp 10 bp Selected Average Balances (in millions of dollars) Average Interest-Earning Assets (5) 417,379 420,191 420,203 422,327 425,789 431,177 431,523 424,805 425,228 430,884 419,638 417,768 418,640 - - Average Margin Balances 73,206 73,326 72,755 74,105 76,932 81,507 82,551 84,233 82,725 77,478 79,132 82,339 85,492 4 % 17 % Average Bank Deposit Account Balances (6) 83,979 82,806 82,336 83,261 84,385 85,384 84,790 83,089 84,302 84,060 81,495 81,014 80,755 - (4 %) Mutual Funds and Exchange-Traded Funds Net Buys (Sells) (7,8) (in millions of dollars) Equities 10,908 5,609 5,217 7,176 13,226 14,805 10,050 4,987 (1,221 ) 7,950 10,473 8,987 10,936 Hybrid (1,155 ) (1,377 ) (432 ) (1,397 ) (329 ) 124 (1,324 ) (464 ) (603 ) (1,663 ) (287 ) (1,038 ) (463 ) Bonds 8,651 10,919 11,015 10,442 7,473 10,969 8,747 12,162 11,438 (1,490 ) 8,483 6,050 11,920 Net Buy (Sell) Activity (in millions of dollars) Mutual Funds (7) (4,679 ) (4,003 ) (1,261 ) (4,905 ) (4,492 ) (4,331 ) (6,785 ) (3,971 ) (8,537 ) (13,955 ) (3,224 ) (5,351 ) (3,442 ) Exchange-Traded Funds (8) 23,083 19,154 17,061 21,126 24,862 30,229 24,258 20,656 18,151 18,752 21,893 19,350 25,835 Note: Certain supplemental details related to the information above can be found at: (1) Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. 2024 also includes outflows from a large international relationship of $0.1 billion in August, $0.3 billion in October, and $0.6 billion in November. (2) Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion beginning in 2025; $10 billion in prior periods) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods. (3) Includes accounts in Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services; Participants may be enrolled in services in more than one Workplace business. (4) Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank. (5) Represents average total interest-earning assets on the Company's balance sheet. (6) Represents average clients' uninvested cash sweep account balances held in deposit accounts at third-party financial institutions.