Latest news with #IanMunro
Global News
15-05-2025
- Business
- Global News
‘I just don't like it': Living the high life in Halifax and why not everyone is a fan
Take a drive through Halifax or Dartmouth and it's immediately evident. New high-rise projects are on the rise in the municipality, but it leaves many asking, 'Who can afford to call them home?' Local researchers say Nova Scotians living on tight budgets, especially families, are continuing to get pushed out of the urban rental market. It's left some people, including a Haligonian, to consider moving out of the city. 'I used to look out at these beautiful views, the harbour and the hills in the distance,' said the woman who goes by Jaki, adding that the noise from the constant construction means 'there's never a moment of silence.' 'It's not affordable for people, and I just don't like it.' Halifax is one of the fastest-growing cities in Canada and the demand for housing is changing the landscape. Story continues below advertisement According to the Halifax Index 2024, from the city's public-private economic development organization Halifax Partnership, population growth hit a record high in 2023. 'This was good news for addressing long-term demographic challenges. However, it also meant continued and serious pressures on housing, transportation, and health care,' wrote Ian Munro, chief economist with Halifax Partnership. 'Driven in large part by rising prices for housing, inflation remained stubbornly elevated compared to the past 30 years.' The statistics found that the record-high population growth was driven by international migration. Of note, more people moved out of Halifax to other parts of Nova Scotia than went the other way — for the second year in a row. 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 index also found Halifax's average housing price reached $550,605 in 2023, which is over double the level a decade ago. 'Over the longer-term, rent has increased by +$602 since 2014 when a typical monthly rate was $936,' the index notes. 'Price pressures are not isolated to Halifax's urban centres; every region of Halifax has seen double-digit growth in average rent.' 'Expensive new apartment units' Elijah Walsh, who currently lives in downtown Halifax and is a university student, wonders what the cost of rent will be for these new high-rise developments. Story continues below advertisement 'It's going to address things in the next five or 10 years, but in the immediate term — there's really nothing to be done,' said Walsh. An expert in city planning, Jill Grant, has the same questions. The Dalhousie University School of Planning professor says the speed of development that's taking place is simply unsustainable. 'There's a bit more of a glut happening. There's a lot of stuff coming on the market and not enough high-income earners to necessarily fill up all those expensive new apartment units,' she said. She adds that people who live downtown are likely young and single, yet many of the new projects that are cropping are advertised explicitly as 'luxury.' 'Which means they have nice kitchens and appliances and so on, but they tend to be fairly small spaces,' she said, adding that amenities such as gyms are also built into rent prices and will increase costs. 2:01 Nova Scotians feeling 'priced out' of Dartmouth neighbourhood According to a recent report by online marketplace, the average rent in Halifax is more than $2,200. That's up five per cent from last year. Story continues below advertisement Yet the provincial government says the market is stabilizing and that the vacancy rate has increased one per cent since last year — now sitting at two per cent. But housing advocates warn the situation remains dire. 'It falls to one per cent vacancy rate if you actually are exploring any type of affordable housing unit. So it's extremely tight and very difficult,' said Jeff Karabanow, a Dalhousie University social work professor. The researchers say additional government support could help, including greater investment in public housing. There could also be a return to war-time housing programs, including building pre-fab homes and encouraging developers to build affordable rentals. 'We need that kind of program if we're going to have enough housing to keep people off the streets. So they're not forced to live in tents,' said Grant. In the second part of our series looking at development in the Halifax region, we'll speak to a developer behind some of the new high-rise buildings on the city's horizon.
Business Insider
15-05-2025
- Business
- Business Insider
Lindsay Australia Limited (LAU) Gets a Buy from Ord Minnett
In a report released today, Ian Munro from Ord Minnett maintained a Buy rating on Lindsay Australia Limited (LAU – Research Report), with a price target of A$1.09. The company's shares opened today at A$0.69. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter According to TipRanks, Munro is ranked #1233 out of 9519 analysts. The word on The Street in general, suggests a Strong Buy analyst consensus rating for Lindsay Australia Limited with a A$0.92 average price target, implying a 33.33% upside from current levels. In a report released yesterday, Morgans also upgraded the stock to a Buy with a A$0.85 price target. Based on Lindsay Australia Limited's latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$432.83 million and a net profit of A$14.66 million. In comparison, last year the company earned a revenue of A$413.27 million and had a net profit of A$18.08 million
The Sun
11-05-2025
- Business
- The Sun
Huge dessert chain with 30 locations forced to close shop after just 6 months as staff slam the owner
A HUGE dessert chain with 30 locations has been forced to close shop after just six months. The Jars dessert bar in Edinburgh's trendy Quartermile shut its doors for good on April 25, despite the business only opening in November last year. 2 Eight staff members were allegedly suddenly left jobless with one senior manager blasting the way they were treated by bosses. Ian Munro, the last manager of the now-shuttered Lister Square branch, said he was 'fuming' after being told the company would be closing up shop with barely a day's notice. Speaking to the Edinburgh Evening News, Ian slammed Icon Brand - the company behind the Jars chain. He claimed workers were 'meant to be given two weeks' notice but they weren't'. Ian told the outlet: 'The new owners let the place go to the wall. And they let staff go without any redundancy payments. "This has left them all, quite rightly, very annoyed. I was upset that I'd have to be letting them go, but I was told it would be done properly.' He revealed he only got a call from management on the afternoon before the closure, with the shutters coming down the next day. Describing the Friday as a "tough last shift", he said: 'Everyone was still a bit in shock and angry about the whole situation and how it had been dealt with by the company.' Ian, who has now quit the business in protest, said the final straw came after staff had trouble getting their last pay packet on time. From cheese boards to chocolatey desserts – treats to supercharge your brain and prevent memory blips 'We have all been paid now, but there was an initial problem with the most recent wages which just made the situation worse,' he said. Ian added that he handed in his notice because he doesn't "want to work for a company that treats its staff like that". He continued: 'People need to know how badly the staff there were treated. I'm worried about them. They have got bills to pay amid a cost of living crisis. 'I've got a new job lined up so I'm ok, but I'm worried about them and quite angry with the company. It's horrible to see the staff treated like that.' TROUBLE ON THE HIGH STREET Plenty of other retailers are closing stores across the high street as households lean more towards online shopping and amid high business rates. Soaring inflation in recent years has also dented shoppers' pockets. The Centre for Retail Research's latest analysis suggests 13,479 stores, the equivalent of 37 each day, shut for good in 2024. Of those, 11,341 were independent shops while 2,138 were shut by larger retailers. The data also showed over half the stores that closed last year were shut due to the store or retailer going through insolvency proceedings. What is happening to the hospitality industry? By Laura McGuire, consumer reporter MANY Food and drink chains have been struggling in recently as the cost of living has led to fewer people spending on eating out. Businesses had been struggling to bounce back after the pandemic, only to be hit with soaring energy bills and inflation. Multiple chains have been affected, resulting in big-name brands like Wetherspoons and Frankie & Benny's closing branches. Some chains have not survived, Byron Burger fell into administration last year, with owners saying it would result in the loss of over 200 jobs. Pizza giant, Papa Johns is shutting down 43 of its stores soon. Tasty, the owner of Wildwood, said it will shut sites as part of major restructuring plans. This is when formal measures are taken to deal with tackling a business's debt. Retailers are also shutting stores in 2025. New Look is ramping up a store closure programme ahead of April's National Insurance hike. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. This equates to about 91 stores, with a significant impact on its 8,000-strong workforce.
Scotsman
08-05-2025
- Business
- Scotsman
Edinburgh staff let down by dessert shop closure says former Jars senior manager
Watch more of our videos on and on Freeview 262 or Freely 565 Visit Shots! now The former senior manager of a recently closed Edinburgh dessert shop has hit out at the company which ran it, particularly for the way it treated the staff. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The Jars branch at Lister Square in the Quartermile in Edinburgh, which only opened in November last year, closed on Friday, April 25, leaving eight staff members out of a job without any redundancy pay. The Jars branch at Lister Square in the Quartermile. | National World Jars Edinburgh's last senior manager, Ian Munro, who worked for the Icon Brand company which ran the Jars chain for two years, has handed in his notice after being left fuming by the way his staff were treated. Advertisement Hide Ad Advertisement Hide Ad He said: 'The new owners let the place go to the wall. And they let staff go without any redundancy payments. The staff were meant to be given two weeks notice but they weren't. This has left them all, quite rightly, very annoyed. I was upset that I'd have to be letting them go, but I was told it would be done properly. 'I got a call from management on the afternoon of Thursday, April 24, to say the restaurant would be closing the next day. We have all been paid now, but there was an initial problem with the most recent wages which just made the situation worse. 'It was a tough last shift on the Friday, everyone was still a bit in shock and angry about the whole situation and how it had been dealt with by the company.' The Jars branch in Edinburgh city centre closed for good on Friday, April 25. | National World Advertisement Hide Ad Advertisement Hide Ad Ian's anger with how his staff have been treated has led to him leaving the company this week. He said: 'I handed in my notice because I don't want to work for a company that treats its staff like that. People need to know how badly the staff there were treated. 'I'm worried about them. They have got bills to pay amid a cost of living crisis. I've got a new job lined up so I'm ok, but I'm worried about them and quite angry with the company. 'It's horrible to see the staff treated like that.' An attempt was made to contact Icon Brand for comment.
Business Insider
05-05-2025
- Business
- Business Insider
Ord Minnett Keeps Their Buy Rating on Qube Holdings (1K1)
In a report released today, Ian Munro from Ord Minnett maintained a Buy rating on Qube Holdings (1K1 – Research Report), with a price target of A$4.30. The company's shares closed last Friday at €2.28. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Munro is ranked #1156 out of 9371 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Qube Holdings with a €2.47 average price target, an 8.33% upside from current levels. In a report released on May 2, Jefferies also maintained a Buy rating on the stock with a A$4.79 price target. Based on Qube Holdings' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of €1.98 billion and a net profit of €105.7 million. In comparison, last year the company earned a revenue of €1.52 billion and had a net profit of €114 million Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of 1K1 in relation to earlier this year.
