Liberal party meeting to discuss whether Ruby Dhalla should be disqualified: source
A source, who was not authorised to speak publicly, said Dhalla's fate is being decided by a special joint committee Friday afternoon.
They said she faces 12 allegations, including accepting donations from a corporation in the form of payments to campaign staff.
Dhalla is also accused of failing to disclose the involvement of a non-Canadian citizen in her campaign, which the party alleges would amount to foreign interference if it happened during an election period.
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Winnipeg Free Press
38 minutes ago
- Winnipeg Free Press
Warpath to profitability?
Opinion The defence industry is often overlooked by investors. It's perceived as boring compared with technology or worse, it's just an unethical way to put profit in the portfolio. Since the February 2022 invasion of Ukraine by Russia, however, the defence industry has drawn significant investor interest. Notably, the perception has changed. That includes some of those who might have felt investing in defence was distasteful; they now see it as a needed buttress against rising authoritarianism. Of course, another shift is financial — based on the forecast injection of hundreds of billions of dollars in additional spending by NATO members. Pexels NATO members (including Canada) are forecast to invest hundreds of billions of dollars in additional annual spending in defence in the years to come. Canada alone is expected to increase military spending about $70 billion annually to meet its most recent defence commitment of five per cent of gross domestic product. The big question for many intrigued investors is whether they've already missed the warship. 'Our view is that type of information gets incorporated into market prices really quickly,' says Ben Felix, chief investment officer with PWL Capital in Ottawa. 'The implication of that is by the time you read about it in a Free Press article, any advantage that you may have got by investing in that theme is already gone.' That said, the defence industry landscape and recent performance are still of interest to inquisitive investors who might consider putting their money to work when prices pull back periodically. For the time being, however, many defence company share prices have hit lofty heights, including a handful of Canadian firms such as satellite technology company MDA Space Ltd. Its share price is up more than 50 per cent year to date. As well, aerospace company Bombardier's share price 'has almost doubled in recent months, so obviously, all of the talk that has been going on is certainly helping,' says Brian Donovan, New Brunswick-based president of provider of valuation models for investors. 'It tells you that there is an interest shift into this space.' StockCalc tracks performance of thousands of North American equities, including about eight Canadian firms with defence industry revenues. One even has a footprint in Winnipeg: Magellan Aerospace Corp., which makes components for military aircraft. Its share price is up more than 80 per cent YTD. If those gains sound lofty, consider some firms listed in the United States and Europe. Notably, artificial intelligence firm Palantir is up 106 per cent this year. Even more impressive, its share price is up nearly 1,600 per cent over the last five years. A key driver is its defence contracts with the U.S. and partnerships with other technology and manufacturing companies involved in defence. That includes L3 Harris Technology, which, like Palantir, operates in many industries. Its drone technology business is a big defence revenue driver. (That said, its share price growth YTD is much less than other defence stocks.) In Europe, the most notable defence growth story is manufacturing conglomerate Rheinmetall AG. Among the many defence technologies it manufactures are Challenger and Leopard tanks. Its share price is up about 200 per cent YTD, and more than 2,000 per cent in the last five years. The big driver is Germany planning to spend more than a trillion dollars on defence in the next five years. That investors are now turning onto the defence sector is understandable (given the headlines) and somewhat ironic at the same time because it has not been a lacklustre industry for long-term performance. Publicly traded companies involved in the U.S. defence industry have collectively provided returns on an annual basis that have outpaced the S&P 500, says Scott Sacknoff, manager of the SPADE Defense Index in Washington, D.C. 'There is a long history of defence outperforming.' And it very well could continue to outperform, given the U.S. defence budget is expected to surpass US$1 trillion annually for the first time in history, he adds. If anyone has deep knowledge of the defence sector, it's Sacknoff. The SPADE Index, which he manages, consists of leading U.S.-based defence companies and has outperformed the S&P 500 by roughly more than 1,000 basis points (or 100 percentage points) over the last 25 years. Yet until Russian President Vladimir Putin decided to invade Ukraine in 2022, defence was a profitable but sleepy market corner. The explosion in defence spending has changed that, leading to greater investment and even a rush of new investment products, notably exchange-traded funds (ETFs). Prior to 2022, investors largely had three ETFs to choose from, including one of the longest running: Invesco Aerospace & Defense ETF. For investors looking for exposure, the Invesco product is worth a look. Since launching in 2005, it has had steady growth. Investment data firm Morningstar data shows US$10,000 invested in 2005 would be worth nearly US$120,000 today. In turn, the ETF has Morningstar's highest rating. Sacknoff notes the ETF's performance is driven by the underlying SPADE index, which uses a modified market cap weighting to address the downsides of passive investing that lead to over-concentration in overvalued stocks. 'In simplest terms, this involves ensuring that large companies aren't too large, and small companies aren't too small.' He adds the index's annualized return over 15 years is 17 per cent. 'You have never lost money in any product tracking our index if you invested and held onto it for at least three years.' Yet one might ask, would that still hold true today? 'The big question is whether earnings and revenues will catch up to the high valuations,' Sacknoff says. Only time will tell. Yet not all companies on the index are surging in price, including Lockheed Martin, manufacturer of the F-35 fighter that Canada and other NATO countries have contracts to buy. Its share price is actually down slightly this year. Wednesdays A weekly dispatch from the head of the Free Press newsroom. What's more, U.S. President Donald Trump's scattershot economic policy is likely to lead to downside market volatility, presenting buying opportunities for defence companies. Yet their long-term tailwind is likely not going away soon. For the time being, however, this high-flying sector seems more of a minefield than a warpath to profitability. Joel Schlesinger is a Winnipeg-based freelance journalist joelschles@
CBC
5 hours ago
- CBC
Neighbours shocked after three deaths in Maple Ridge, B.C.
Several neighbours CBC News spoke to say they believe an years-long dispute between neighbours over issues like street parking, backyard fires and a dog exploded into a violent attack in Maple Ridge, B.C. Homicide investigators continue to look into the death of a couple, with the suspect found dead in a home across the street on Wednesday night.
Global News
7 hours ago
- Global News
U.S. Christian musician's West Kelowna tour date remains, amid backlash
He mixes faith with music and politics, but this American, Christian rocker's Canadian tour is striking the wrong chord for some. Sean Feucht, a MAGA-aligned missionary and musician, has been dropped by six venues across Canada amid growing concerns. 'We have had venues cancelled, we have been threatened,' Feucht said in a Twitter video. Despite this backlash, West Kelowna remains one of the few cities still hosting Feucht's tour, along with Abbotsford. The city is closely monitoring the situation ahead of his Aug. 23 performance at the Memorial Park Amphitheatre. 2:04 Venues pulling permits for controversial MAGA musician set to perform in Edmonton In a statement, West Kelowna officials said they are listening to public concerns and reviewing safety and security plans in collaboration with the RCMP. Story continues below advertisement Due to limited information provided by the event organizer and raised public worries, the city expressed increased concerns about public safety and emphasized the need for the organizer to meet all necessary security requirements. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy The city also noted it is limited in its ability to restrict access to public spaces but is using this opportunity to review booking procedures and consider new policies for future rentals. They stressed that private events held in city facilities do not reflect West Kelowna's values, which are rooted in respect, kindness, and inclusivity. Advocacy Canada President Wilbur Turner described Feucht's presence as problematic. 'The city has certain values of inclusivity and being welcoming,' he said. Sean Feucht has made headlines for opposing abortion rights, COVID restrictions, and the LGBTQ2 community — positions critics say go against the spirit of the city. 'It's actually very harmful; it doesn't match with the values of most Canadians,' said Turner. 'The majority of Canadians don't have a problem with the queer community, and so this is just trying to drive a wedge into causing more division.' Feucht, however, defended his Let Us Worship tour on Twitter, saying, 'If I had shown up with purple hair and a dress claiming to be a woman, the government wouldn't have said a word.' Story continues below advertisement As venues continue to cancel, Feucht is fundraising to finish his tour, urging supporters to help him 'worship Jesus.' Locations, including Parks Canada in Nova Scotia and the National Capital Commission in Quebec, have withdrawn permitting for the event, citing safety concerns, risk of protest and support for the LGBTQ2 community.
