Latest news with #lump
Hamilton Spectator
4 days ago
- Lifestyle
- Hamilton Spectator
A place to live until you die? What you need to know about ‘life leases' in Ontario
It might seem like a dream, a guaranteed place to live for as long as you need without the hassle or exceptionally high cost of a home. So-called 'life leases' — contracts in a community for seniors in which they buy the right to live in a place until they die — made headlines recently when a group of Markham retirees protested what they argue are surprise repair costs. But how exactly do these arrangements work? And are they a good idea? According to the Ontario Life Lease Residents Association (OLLRA), an incorporated non-profit that represents the interests of life lease residents, a life lease is purchased through a lump sum. You don't pay rent. But instead of buying a property, you are buying the right to occupy a home for life, usually about 50 years. They are targeted at seniors with different minimum age cut-offs. A life lease 'sponsor' owns the property. Life leases in Ontario are mostly owned by non-profits and charitable organizations, said Lois Marsh-Duggan, a 77-year-old member on the executive of the OLLRA. It's hard to estimate how many there are in Ontario. But there are almost 700 members of the OLLRA, she said, and most people who sign life leases are older women. 'The purchase is a right to occupy. So we own a right to occupy, ' said Dave Wellock, a fellow member of the OLLRA executive who turns 83 on Thursday. You sign a contract, not a lease, and residents aren't covered under the Condo Act or the Residential Tenancies Act. This can lead to confusion. 'Most people think it's a condo,' Marsh-Duggan said. Lawyers, real estate agents and the insurance industry often don't know about life leases or explain them well, so it's important to know what you are getting into. But the complicating factor is that 'each one of them may have a completely different setup,' said Marsh-Duggan. The life lease lump sums are typically less money than a traditional condo. At one life lease building in Markham, resident Chloe Efthyvoulos recently told the Star she bought her two-bedroom life lease in 2017 for around $400,000. However, many life lease residents pay monthly maintenance fees, just like in a condo, which can be high, especially in older buildings. With housing prices in general so high in the GTA, Marsh-Duggan said she has seen ads for life leases in the region for more than a million dollars. Life leases mean less maintenance. Tasks like shovelling snow or mowing grass are eliminated. There are often social activities such as movie nights or Mahjong. Gerry Meade, another life lease resident and member of OLLRA, said one of the huge benefits of living in a life lease is that it's a community just for seniors, who help each other out, getting groceries or taking each other to doctor's appointments. This really helps with addressing isolation for them, which is a huge mental health issue. 'There's a lot of support,' said the 78-year-old. If you die, whoever inherits your estate would get the life lease interest but not the right to occupy it. That means they could sell it, but not automatically move in; that decision would be up to the 'sponsor,' according to the Ministry of Municipal Affairs and Housing guide. For example, the child of a 75-year-old life lease holder who dies may not be old enough to qualify for residency in the building. Many have a minimum age of at least 55. Life leases have been described as 'outside of the law, the wild west or a hot mess,' said Wellock. That's why members of the OLLRA are lobbying for legislation on life leases. This already exists in Manitoba and is something that was recently passed in Saskatchewan, said Marsh-Duggan. Perth-Wellington MPP Matthew Rae introduced a bill called the 'Life Lease Act' in 2023. But when the Ontario's February election was called, it died, he confirmed to the Star in an email. In addition to this lack of legal protection, it's important to note, according to the OLLRA members, that residents don't have the right to have a say in the running of the community or right to information about it. The community may have a reserve fund to cover repairs, or not, and older buildings may require more repairs. At Wyndham Gardens apartments in Unionville, residents told the Star they were shocked to discover that they would be expected to pay hundreds of dollars a month to finance a new roof repair. What the OLLRA members would love to see in any legislation is 'not just the life lease unit holders having access to information, but us having some say in how money is raised and spent,' said Meade. 'We pay the bill, but we have no say of what the bill is going to be or how it's calculated or spent.'
Yahoo
6 days ago
- Business
- Yahoo
I'd Put $7,000 in This Canadian Bank for Decades of Growth and Income
Written by Amy Legate-Wolfe at The Motley Fool Canada When deciding what to do with a lump sum of savings, it's tempting to chase fast-moving stocks or new trends. But sometimes the smartest move is the simplest one: putting your money into something that has proven itself for decades. If I had $7,000 to invest today and wanted dependable growth and income for the long haul, I'd put it into Royal Bank of Canada (TSX:RY). It's not flashy, but it's stable, profitable, and shareholder-friendly, exactly the kind of stock that helps you sleep at night. Royal Bank stock is the largest bank in Canada by market cap, serving over 17 million clients across more than 30 countries. It's involved in retail banking, capital markets, insurance, wealth management, and more. That kind of diversification is key when you're looking to invest for decades. If one division has a rough year, another often picks up the slack. And with a business model this wide, Royal Bank stock isn't overly exposed to any single market or sector. As of writing, the stock trades at about $175 per share. RY's 52-week range sits between $180 and $140. Its market cap is over $247 billion, firmly cementing it as one of Canada's top blue-chip names. The bank stock currently offers a dividend yield of roughly 3.5%. That may not seem like much at first glance, but Royal Bank stock has increased its dividend for 12 consecutive years, and it historically delivers a strong total return when you factor in both price appreciation and dividend growth. The company's most recent earnings report from Q2 2025 shows just how solid the foundation is. Revenue came in at $13.5 billion, beating expectations of $13.3 billion. Net income for the quarter was $3.95 billion, which represented a 4% increase from the same period last year. Diluted earnings per share (EPS) came in at $2.76, well ahead of the $2.67 analysts had expected. Digging deeper, it's clear the bank's performance isn't just luck. It posted an efficiency ratio of 52.1%, showing it's operating efficiently while still growing. The bank's return on equity was 16.3%. That tells you how well Royal Bank stock is using shareholder money to generate profits. A number above 15% is generally considered excellent in the banking world. It also reported a common equity tier 1 (CET1) ratio of 13.7%, meaning the bank has a strong capital cushion in place. One of the most exciting developments this year is Royal Bank stock's acquisition of HSBC Canada. The deal was finalized in early 2025 and adds over 700,000 new clients to the bank's already massive customer base. It also adds more than $100 billion in assets, making this one of the largest banking transactions in Canadian history. Now, no stock is without risk. Royal Bank stock is exposed to interest rate changes, economic cycles, and regulatory shifts. But those are part of any investment in the financial sector. What makes Royal Bank stand out is how well it manages those risks. It's been around for more than 150 years and has weathered everything from world wars to financial crises. If the economy slows, Royal Bank has the capital and discipline to ride it out. In short, Royal Bank stock offers a rare combination of safety, income, and growth. It's not the kind of stock that makes dramatic headlines, but it's exactly the kind that builds wealth over time. With a rock-solid balance sheet, reliable earnings, and a generous dividend, it's an ideal place to park long-term savings. For anyone looking to invest $7,000 in a Canadian stock with decades of potential ahead of it, Royal Bank stock is a choice you can feel confident about for the long run. The post I'd Put $7,000 in This Canadian Bank for Decades of Growth and Income appeared first on The Motley Fool Canada. Before you buy stock in Royal Bank of Canada, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and Royal Bank of Canada wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 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
Business Standard
6 days ago
- Business
- Business Standard
NMDC reduces iron ore prices; new rates effective from June 4
The state-owned iron ore miner informed that it has reduced the prices of its lump ore and fines, with the revised rates coming into effect from 4 June, 2025. According to the latest update by the company, the prices for Lump Ore (65.5%, 10-40mm) have been set at Rs 6,300 per ton, while Fines (64%,-10mm) are priced at Rs 5,350 per ton. In comparison, the prices effective from 1 May 2025 were Rs 6,440 per tonne for Lump Ore (65.5%, 10-40mm) and Rs 5,500 per tonne for Fines (64%, -10mm). This price cut follows an earlier increase in May, when NMDC had raised prices by up to Rs 440 per tonne, marking its first price revision since January. NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power. The companys consolidated net profit jumped 4.6% to Rs 1,477.68 crore on 7.9% rise in revenue from operations to Rs 7,004.59 crore in Q4 FY25 over Q4 FY24. Shares of NMDC fell 1.17% to Rs 69.88 on the BSE.
Yahoo
7 days ago
- Business
- Yahoo
Norfolk police division gets green light for renovation
NORFOLK, Neb. (KCAU) — Renovation and expansion of the Norfolk Nebraska Police Division will move forward after city council members unanimously approved a nearly $86,000 lump sum payment. This is the last step before the project is put out for bidding. During the meeting on June 2, officials with Tessere Incorporated presented new construction estimates of $13.4 million. Officials say increased material and labor costs, along with current market volatility, are responsible for the increase. Story continues below Top Story: OSHA has set fines for workplace death in January Lights & Sirens: Nebraska officials find 25 lbs of drugs during I-80 stop Sports: Bishop Heelan girls soccer blanks Center Point-Urbana 3-0 in IGHSAU 1A Quarterfinals Weather: Get the latest weather forecast here The previous estimated cost was $10.98 million. City officials say the city took too long to get going with the project. Members of the community also spoke out about the project. 'I, personally, have no idea how we can put that much money in a building. I, personally, recommend building a [whole] new building, a little east because we're going to need it eventually,' said Norfolk resident David Jansma. 'And we all know what happens when you wait again. The number goes up again. That's money we won't be able to use elsewhere, like street repair,' said Chief Brian Tighe of the Norfolk Nebraska Police Division. The police facility will be expanded to have a total of almost 27,000 square feet. The project is being paid for by the half-cent sales tax increase that passed back in November; the rest of the funds have plans to go towards street repairs. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Daily Mirror
21-05-2025
- Health
- Daily Mirror
Women with these type of breasts could have cancer missed by routine NHS scans
Women with dense breast tissue could soon be offered extra scans on the NHS after Lancet study shows cancers can remain "hidden" during regular mammograms Better breast cancer screening could identify 3,500 more cancerous lumps every year and save hundreds of lives, research shows. A new study in the Lancet has shown that two extra scans for women with dense breasts can pick up early-stage cancers that remain "hidden" during regular mammograms. Cambridge University scientists say these additional scans - which make blood vessels more visible during mammograms - should be offered as they would more than treble cancer detection. Around 10% of women have very dense breasts, which means they have more fibrous and glandular tissue and less fatty tissue. Study lead Professor Fiona Gilbert, of Cambridge University and honorary consultant radiologist at Addenbrooke's Hospital, said: "Getting a cancer diagnosis early makes a huge difference for patients in terms of their treatment and outlook. "We need to change our national screening programme so we can make sure more cancers are diagnosed early, giving many more women a much better chance of survival." Those with dense breasts are already known to face a four-fold increased risk of breast cancer compared to women without. At the moment denser breasts look whiter on mammograms so standard scans cannot pick up all cancers. Early-stage cancers also appear white, meaning they are difficult to distinguish. The BRAID trial was carried out on 9,361 women across the UK who have dense breasts and had a negative mammogram result. When additional scanning methods were offered an extra 85 cancers were found. The UK National Screening Committee is reviewing this evidence and it could result in woman with dense breast tissue being offered extra scans on the NHS. Louise's Story Louise Duffield, age 60, was diagnosed with early-stage breast cancer as a result of the trial. The grandmother-of-four was invited to participate in 2023 following her regular mammogram screening, which showed that she had very dense breasts. As part of the trial, Louise had an AB-MRI scan which identified a small lump deep inside one of her breasts. Louise, from Ely, in Cambridgeshire, said: 'When they rang to say they'd found something, it was a big shock. You start thinking all sorts of things but, in the end, I just thought, at least if they've found something, they've found it early. The staff were brilliant, and so supportive.' Soon after the MRI, Louise had a biopsy that confirmed she had stage 0 - very early - breast cancer within the ducts of one of her breasts. Six weeks later Louise underwent surgery to remove the tumour, during that time the tumour had already grown larger than it appeared on the scans. The location of Louise's tumour meant it would have been difficult for her to find it through self-examination, and since it was not detected during her regular mammogram it would have been at least three years before she was invited for another. Louise said: 'It's been a stressful time and it's a huge relief to have it gone. The team have been fantastic throughout. The tumour was deep in the breast so, if I hadn't been on the trial, it could have gone unnoticed for years. I feel very lucky, it almost doesn't feel like I've really had cancer. Without this research I could have had a very different experience.' The two extra scanning methods examined in the trial were contrast enhanced mammography (CEM), where dye is used to make blood vessels more visible, and abbreviated magnetic resonance imaging (AB-MRI), which is faster than a regular MRI. The experts calculated that adding either of these methods to existing breast screening could detect 3,500 more cancers per year in the UK. Researchers said that because screening reduces death for about 20% of cancers detected and this could mean an extra 700 lives saved each year. Leading screening expert Professor Stephen Duffy, from Queen Mary University, London, said: "The NHS breast screening programme has made a huge difference to many lives. Thanks to these results, we can see that the technology exists to make screening even better, particularly for the 10% of women with dense breast tissue." Dr David Crosby, head of prevention and early detection at Cancer Research UK, said: "This study shows that making blood vessels more visible during mammograms could make it much easier for doctors to spot signs of cancer in women with dense breasts. More research is needed to fully understand the effectiveness of these techniques, but these results are encouraging." A third scanning method used in the trial - automated whole breast ultrasound (ABUS) - also picked up cancers but was much less effective than CEM and AB-MRI. Overall, per 1,000 women scanned, CEM detected 19 cancers, while AB-MRI found 17 and ABUS found four. With mammograms already detecting around eight cancers per 1,000 women with dense breasts, additional scans could therefore more than treble breast cancer detection. The trial was funded by Cancer Research UK with support from the National Institute for Health and Care Research Cambridge Biomedical Research Centre. Dr Kotryna Temcinaite, of charity Breast Cancer Now, said: "The UK National Screening Committee now needs to consider this research as part of their current review to determine whether women with very dense breasts should be offered additional imaging during their routine screening. If the UK National Screening Committee recommends additional imaging for screening women with very dense breasts, we'll push for those changes to be rolled out as quickly as possible across the UK. "Routine breast screening is the most likely route to finding breast cancer early, when treatment is most likely to be successful. While we know that the current process can be less effective in detecting cancers in dense breasts, we still encourage all women to attend mammogram screening when invited." A Department for Health and Social Care spokesperson said: "Research is being conducted into the use of additional tests for women with dense breasts, as part of the NHS breast screening programme. The UK National Screening Committee is reviewing this evidence as it becomes available."
