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Winnipeg Free Press - PRINT EDITION

Business Watch

By: Staff Writer

Posted: 10/31/2012 1:00 AM | Comments: 0

Retirement plan: lottery

TORONTO -- One-third of Canadian respondents to a new survey admit their financial plans include counting on a future injection of good luck, either by winning the lottery or receiving a large inheritance.

Meanwhile, the poll commissioned by Credit Canada Debt Solutions and Capital One Canada also finds more than two-thirds of those asked have felt anxious or lost sleep thinking about their finances in the past year.

Nearly two in 10, or 18 per cent, of those polled say they believe winning the lottery will contribute to their financial plan, while one in 10, or 10 per cent say they expect a large inheritance to help out.

Gala for Filipino leaders

THE Manitoba Filipino Business Council will celebrate its business leaders for the first time at an awards gala next week.

The organization, the voice of Filipino business in the province, is holding its first-ever awards gala to honour the "multi-generations of the movers and shakers that inspire us."

The gala, being held at The Gates on Roblin on Nov. 9, begins with cocktails at 5:30 p.m., with the program starting at 6:50 p.m. Tickets cost $75 apiece and can be purchased by calling 204-688-4316 or emailing awardsgala@mfbc.ca

A portion of the proceeds will go to the Kidney Foundation of Manitoba and MFBC events through the year.

Medicure reports loss

MEDICURE, the Winnipeg-based specialty pharmaceutical company, reported first-quarter revenue of $700,000 compared with $1.5 million for the same period last year.

Net loss for the quarter ending Aug. 31, 2012, was $0.3 million compared with net income of $23.5 million in the same quarter a year ago. However, the net income in the previous-year quarter primarily relates to a $23.9-million non-cash gain relating to the settlement of the company's long-term debt.

Medicure's primary focus is the marketing and distribution in the U.S. of Aggrastat, a drug used to treat acute coronary syndrome.

What newspaper crisis?

NEW YORK -- A media industry group says U.S. newspaper circulation was almost unchanged in the six months that ended in September.

Average daily circulation in the April-September period slid 0.2 per cent for the 613 newspapers included in the semiannual study by the Audit Bureau of Circulations. Sunday circulation for the 528 newspapers in Tuesday's report increased 0.6 per cent.

Good news for real estate

TORONTO -- CIBC World Markets economist Benjamin Tal says he continues to believe a U.S.-style real estate meltdown isn't in the cards for Canada.

Tal says in a new report that even recently released data about high levels of Canadian consumer debt aren't proof there will be a sudden, big drop in home prices.

He agrees house prices will probably fall over the next year or two but insists comparisons with the U.S. real estate crash aren't warranted.

-- from staff, the news services

Republished from the Winnipeg Free Press print edition October 31, 2012 $sourceSection0

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