News releases

June 2013

• Media companies’ digital revenues set to overtake traditional by 2015
  Toronto, 19 June 2013
  According to a new Ernst & Young survey, digital will soon be the largest source of revenue for media and entertainment companies, with 68% of companies reporting that smart mobility will drive revenue growth.
• Capital dilemmas top risk facing mining and metals companies in 2013–14
  Toronto, 13 June 2013
  Capital allocation and access to capital have rocketed to the top of the business risk list for mining and metals companies globally, up from number eight in 2012, in Ernst & Young’s annual Business risks facing mining and metals 2013–14 report, released today.
• Ernst & Young’s acquisition puts SR&ED practice among largest in Canada
  Toronto, 11 June 2013
  Ernst & Young is growing its dedicated Scientific Research and Experimental Development (SR&ED) team to one of the largest in the country, by today signing a letter of intent to integrate boutique firm SRED Automation into the EY family.
• TSX and TSXV loss captured in Ernst & Young’s Canadian Mining Eye index: available now!
  Vancouver, 11 June 2013
  Our latest quarterly Canadian Mining Eye index shows Canadian mining equities continued to significantly underperform in the first quarter of the year given concerns around global economic growth and, as a result, commodity prices.
• Ernst & Young Entrepreneur Of The Year celebrates iconic Canadian, Daniel E. Williams
  Halifax, 5 June 2013
  Daniel “Danny” Williams will receive the Ernst & Young Entrepreneur Of The Year 20^th anniversary Atlantic Lifetime Achievement award in recognition of his substantial achievements as a successful lawyer and businessman, and a dedicated public servant.
• 56% of non-tax business leaders aren’t up to speed on tax risk management
  Toronto, 3 June 2013
  Tax controversies between companies and the Canadian tax authorities are not uncommon, and are increasing, according to Ernst & Young’s latest Canadian tax governance survey. To minimize the threat to a company, tax risk management needs to be a business-wide issue.

May 2013

• Canadian biotechs resilient – but financing flat at $US733m for 2012
  Toronto, 23 May 2013
  Despite powerful science and great talent, financing for Canadian biotechs was flat in 2012. That means companies must boost their focus on efficiency and results if they hope to attract new investment, according to results from Ernst & Young’s 27^th annual biotech industry report.
• Only 24% of mining and metals companies focused on M&A in 2013 despite economic optimism
  Vancouver, 14 May 2013
  Only 24% of global mining and metals companies are focused on M&A in the next six months, despite the fact that 57% of companies view the economy as improving — up from 21% in October, Ernst & Young’s eighth semiannual Global Capital Confidence Barometer - Mining & Metals reveals.
• 56% of Canadian executives believe economy is improving, up from 29% in October
  Toronto, 8 May 2013
  Optimism in the Canadian economy has spiked significantly over the last six months, according to Ernst & Young’s latest Capital Confidence Barometer. Fifty-six percent of Canadian executives believe the country’s economy is improving, up from only 29% in October, with access to capital, employment growth and corporate earnings all showing positive gains.

April 2013

• Power and utilities companies rank compliance and regulation as biggest concern
  Toronto, 23 April 2013
  Responding to frequently changing regulations and managing the effect on business and stakeholders are now the biggest concerns for power and utilities executives around the world — up from 2011 — according to a new Ernst & Young survey.
• Ten last-minute tax tips to help you save time — and money
  Toronto, 22 April 2013
  With the 2012 personal income tax return filing deadline fast approaching, here are some practical suggestions from Ernst & Young’s latest Tax Matters@EY. Some will save you time and — best of all — some may even save you money.
• What talent? Long-term workforce strategy needed to stay competitive
  Toronto, 10 April 2013
  Most companies know the kind of talent they need to support their bottom line, such as people with a global mindset, but few have the strategies in place to get the skills they need in the long-term, says Ernst & Young — named today as an eight-time Great Place to Work® award winner in Canada.
• Canadian P&C insurers must heed customer preferences to grow
  Toronto, 4 April 2013
  From new product development and marketing to distribution, Canadian property and casualty (P&C) insurers that harness the vast volume of data available to them to gain insight into customer preferences and behaviour will be better positioned for growth, says Ernst & Young.
• Ernst & Young launches Entrepreneurial Winning Women in Canada to take women-led businesses to the next level
  Toronto, 2 April 2013
  Worldwide, women operate more than a quarter of all private businesses and start companies at nearly twice the rate of men. But despite early robust growth, they aren’t reaching their potential, says Ernst & Young. The firm is looking to change that.

March 2013

• 43% of Canadian business community rate Federal budget a “B” or higher
  Toronto, 27 March 2013
  While 43% of Canadian business people surveyed rated last week’s Federal budget a “B” or higher overall, respondents were generally split down the middle on the specific measures it entailed, Ernst & Young finds. That said, 57% ranked this year’s budget a “C” or worse.
• Ernst & Young breaks down the federal budget
  Toronto, 15 March 2013
  The federal government continues its mission to balance the budget by 2015. With promises to close remaining tax loopholes and maintain its focus on jobs, growth and long-term prosperity – all while not increasing taxes – what will be the impact on Canadian businesses and taxpayers?
• Canadian life insurers in better shape than their US counterparts
  Toronto, 14 March 2013
  Canadian life insurers enjoy a relatively good position compared to their US counterparts, says Ernst & Young. But companies need to creatively adjust their products, business strategies and services for growth in a competitive market characterized by lower margins and changing demographics.
• Apply within: Harnessing the power of diversity key to growth locally and globally
  Toronto, 12 March 2013
  Companies seeking growth in both local and global markets need to leverage the not-so-“secret weapon” of diversity in their business strategies, says Ernst & Young, recently named one of Canada’s 2013 Best Employers for New Canadians.
• Canada bucks global trend with technology deal volume up 21% in 2012
  Toronto, 6 March 2013
  Despite flatlining global technology mergers and acquisitions (M&A) volume year over year in 2012, Canadian volume was up 21% according to Ernst & Young’s Global technology M&A update.
• Cost competitiveness key issue for Canadian miners
  Toronto, 4 March 2013
  Cost control and capital allocation among sector challenges discussed at PDAC.
• Entrepreneurs turn us on: Ernst & Young launches 20^th year of Entrepreneur Of The Year
  Toronto, 1 March 2013
  With entrepreneurs accounting for 50% of employment in most G20 countries, celebrating and advocating for these innovative businesses is more important than ever before, Ernst & Young said today while launching the 20^th anniversary year of its Entrepreneur Of The Year program in Canada.

February 2013

• 54% of entrepreneurs plan to boost workforce in 2013­­­
  Toronto, 21 February 2013
  Entrepreneurs in Canada and around the world are optimistic about the year ahead, with more than half expecting to grow their workforce in 2013, Ernst & Young finds in its latest global survey.
• Canadian mining deal value and volume down 37%, 19% in 2012
  Vancouver, 21 February 2013
  Canadian mining deal value and volume fell 37% and 19%, respectively, year over year in 2012, but activity is set to pick up in the year ahead, according to Ernst & Young’s new report Mergers, acquisitions and capital raising in mining and metals: 2012 trends, 2013 outlook.
• Only 53% of companies plan to focus on improving working capital in 2013
  Toronto, 20 February 2013
  While 80% of Canada’s financial executives remain focused on increasing operational efficiency and reducing costs this year, only 53% are looking at ways to improve working capital. That could be a missed opportunity, according to a new Canadian Financial Executives Research Foundation (CFERF) study sponsored by Ernst & Young.
• Differences wanted: Ernst & Young hails diversity as critical to global success
  Toronto, 19 February 2013
  As businesses seek growth — locally and worldwide — they must shore up their workforces with the diverse perspectives they need to challenge outdated ideas, and adapt to thrive in new environments, says Ernst & Young, just named one of Canada’s 2013 Best Diversity Employers.
• 37% of oil and gas companies pursue divestments amid capital constraints
  Calgary, 11 February 2013
  Growing pressures around cost and access to capital are setting the stage for a dynamic year of transaction activity in Canada’s oil and gas industry, with divestments taking on a greater strategic role, according to Ernst & Young.
• Canadian mining companies focused on cost control, project execution in 2013
  Vancouver, 7 February 2013
  Canadian mining and metals companies are keeping cost control and project execution top of mind this year as shareholders become more risk averse, says Ernst & Young.
• Acquisition pricing more challenging than ever for Canadian power and utilities
  Toronto, 6 February 2013
  Canadian power and utilities companies are showing an appetite to grow and diversify through acquisitions in 2013, according to a new Ernst & Young report. However, with changing regulatory structures in different jurisdictions, companies are facing increased uncertainty when it comes to pricing the deals.

 January 2013

• Private mid-market companies can’t afford to stand still in 2013
  Toronto, 24 January 2013
  Canadian companies operating in the private mid-market will face a number of common obstacles on their road to growth and profitability in the year ahead.
• Calgary’s Dr. Alan Ulsifer of FYidoctors named Canada’s Ernst & Young Entrepreneur Of The Year® 2012
  Toronto, 17 January 2013
  Dr. Alan Ulsifer, President and Chief Executive Officer of FYidoctors — Canada’s largest independent eye care product and service provider — is this year’s National Ernst & Young Entrepreneur Of The Year winner.
• Ernst & Young and Plan Canada join forces to provide disaster relief and recovery
  Toronto, 9 January 2013
  Responding effectively to natural disasters and emergencies is critical to the success of relief efforts, Ernst & Young and Plan Canada said today when announcing a new agreement. To support Plan Canada’s disaster relief and recovery work, Ernst & Young is donating $150,000 over three years to their cause.