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Recent Canadian news releases issued by EY:
- Transaction market stalled by a dramatic plunge in oil prices
Calgary, 26 February 2015
Since mid-2014, the transaction market in the oil and gas sector has been stalled by a dramatic plunge in oil prices, according to EY’s From scarcity to abundance - Oil and gas transactions in review 2014 - Canada. With current prices and market conditions, EY says few new oil or gas projects globally appear to be economical, and the Canadian industry is not immune.
- Generations X and Y overlooked by Canadian life insurers
Toronto, 25 February 2015
Generations X and Y (Gen X and Y) are overlooked by Canadian life insurers, according to EY’s 2015 Canada life – annuity insurance outlook, released today. Exploring this underserved consumer market will help insurers achieve growth and relieve pressure on costs and margins.
- Data is king in Canada’s challenging P&C insurance market
Toronto, 25 February 2015
Facing cost pressures and market challenges, Canadian P&C insurers must use data and analytics to increase their profit margins, according to EY’s 2015 Canada property-casualty insurance outlook, released today.
- Tax incentives can help mitigate new technology development costs for LNG projects
St. John’s, 25 February 2015
The proposed liquefied natural gas (LNG) projects in Atlantic Canada are expected to face economic challenges due to quickly evolving markets for LNG cargoes, high capital requirements, and the sheer volume of projects competing for investment in North America, says EY in the latest edition of East Coast Offshore.
- Proposed measures to increase CCA rates welcome news for Canadian LNG industry
Ottawa, 24 Februrary 2015
The Department of Finance’s proposal to increase the capital cost allowance (CCA) rates for property acquired for use in liquefied natural gas (LNG) facilities in Canada is welcome news for the Canadian LNG industry, says EY. Still, the firm warns that industry proponents continue to face cost, regulatory and other challenges in the development of Canadian projects, none of which have yet received final investment decision.
- Canadian Mining Eye index continues decline in Q4
Toronto, 23 Februrary 2015
EY’s Canadian Mining Eye index fell 12% during Q4 2014, following a 15% decline in the previous quarter. Still, EY says with lower oil prices, miners will benefit from lower input and freight costs amid metal price weakness, helping them to protect margins.
- EY’s 2015 banking outlook: Time to redefine the core of the bank
Toronto, 18 Februrary 2015
Canadian banks need to reinvent themselves through simplification of businesses, deconstruction of products and an end to global universal banking, according to EY’s Global banking outlook 2015: Transforming banking for the next generation.
- Stay organized in 2015: EY tax tips available now
Toronto, 12 Februrary 2015
With the tax season quickly approaching, now is the time for private company owners to evaluate options available to help reduce tax stress, according to EY’s publication, Taking the stress out of tax season; tips for private company owners to stay organized, in TaxMatters@EY.
- War for talent in mining just heating up
Vancouver, 28 January 2015
The end of the mining boom does not mean victory in the war for talent, according to a new EY report. Instead, EY says it’s merely a ceasefire – and companies must maintain a focus on talent to minimize risks presented by more enduring trends.
- Insurers must embrace digital to improve poor customer relationships
Toronto, 27 January 2015
High turnover and low trust ratings in the Canadian insurance industry could be countered by nurturing better customer relationships, according to EY’s Global Consumer Insurance Survey: Reimagining customer relationships. Digital communication channels and improved distribution strategies will help insurance companies better connect with consumers and gain market advantage.
- Play-based regulation could change the face of energy regulation
Calgary, 13 January 2015
As lower oil prices continue to put pressure on the energy industry, a new EY report finds that play-based regulation (PBR) — an innovative approach to regulating Alberta’s oil and gas industry — has the potential to create numerous benefits for multiple stakeholders including industry, regulators and the public.