Money Retired TD Bank executive to head up LCBO

18:40  18 january  2018
18:40  18 january  2018 Source:

Banks see future savings in U.S. tax reform

  Banks see future savings in U.S. tax reform TORONTO - Canadian banks are expecting some short-term pain from U.S. President Donald Trump's tax overhaul, but a significant lift on future earnings. RBC chief executive Dave McKay told an investment conference Tuesday that he expects a writedown of US$150 million, plus or minus 10 or 15 per cent, in the bank's first quarter. However, he said Canada's biggest bank by market capitalization is expecting an annual tax-positive benefit of US$150 million- to US$200-million going forward."(It's) a real positive story as far as impact to the bottom line from tax in the United States," McKay told the industry conference.

Retired TD Bank CEO Ed Clark to head up agency that will sell pot in Ontario .

TORONTO — Ontario has called in its top business guru to head the agency that will handle the complicated task of selling and distributing recreational marijuana once pot is legalized this summer. Former TD Bank CEO Ed Clark

TORONTO - A retired bank executive is set to become the next chairman of the Liquor Control Board of Ontario, a Crown corporation tasked with selling and distributing recreational marijuana once it's legalized this summer.

a man wearing a suit and tie© Provided by

Former TD Bank CEO Ed Clark has served as Premier Kathleen Wynne's business adviser and most recently worked on the province's bid to land the new Amazon headquarters.

Finance Minister Charles Sousa says Clark's appointment as chairman of the LCBO's board of directors will be finalized by Ontario's cabinet this morning.

The province announced last fall that it plans to create a subsidiary of the Liquor Control Board of Ontario that will run the stores.

The agency itself will oversee the planning process to establish their locations.

The province plans to set up approximately 150 stand-alone cannabis stores by 2020 with the first wave of 40 stores opening in 2018.

Apotex president and CEO Jeremy Desai resigns .
The head of Apotex, the generic drug giant company founded by the late Barry Sherman, has resigned. Apotex spokesperson Jordan Berman confirmed Friday morning that Jeremy Desai, president and chief executive officer of the company until Friday morning, had resigned “effective immediately” to pursue other opportunities. Berman gave no further information about Desai’s departure.Jack Kay, the company’s vice-chairman who spoke at the funeral of Barry and Honey Sherman last month, assumes the role of chief executive officer.

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