Transforming your business by transforming conflict By Bill Hamilton, Partner, Assurance, in EY’s Private Mid-Market practice, and Dean Radomsky, Partner, Tax, in EY’s Private Mid-Market practice As originally published in FEI Canada F.A.R. member e-newsletter, September 2016
EY to honour Canadian social entrepreneurs with EY Entrepreneur Of The Year™ Special Citation awards Toronto, 15 September 2016 EY is recognizing entrepreneurs who positively disrupt the way we do business. Alberta's Robyn Henderson (The Uncomplicated Family), Ontario's Marina Glogovac, Aaron Pereira, Matthew Choi and Ryan Little (CanadaHelps.org), and Nova Scotia's Jessie Jollymore (Hope Blooms) are this year's EY Entrepreneur Of The Year Special Citation award recipients. EY will honour their efforts at its upcoming regional Entrepreneur Of The Year Awards galas, starting in September.
Wheaton family to receive the EY Entrepreneur Of The Year Family Business Award of Excellence Calgary, 7 September 2016 When Don Wheaton Sr. started in the car business in 1955 in Porcupine Plain, Saskatchewan, he had big dreams. Now, 61 years later, both the second and third generations of the Wheaton family are running their many business interests across Canada. This year, the Wheaton family will be recognized with the Family Business Award of Excellence at the EY Entrepreneur Of The Year gala in the Prairies region.
US$200B in global wealth management revenue at stake as client expectations shift Toronto, 25 August 2016 Globally, up to US$200B in revenue may be at stake, as 40% of all clients surveyed are open to switching wealth managers under the right circumstances, according to EY's 2016 global wealth management report, The experience factor: the new growth engine in wealth management. Firms that fail to make strategic investments to deliver a superior client experience may risk losing a substantial portion of their current business, the report finds.
Canadian Mining Eye index sees incredible gains in Q2: EY Toronto, 11 August 2016 EY’s Canadian Mining Eye index gained 42% during Q2 2016, outperforming indexes around the world. This follows a gain of 26% in the Canadian index in Q1, which was already a significant turnaround compared to 2015.
Saputo family to be honoured with family business award Montreal, 26 July 2016 When you open a fridge in any Canadian home, there's a good chance there's a Saputo product inside. What started as a local cheese company has grown over the past 62 years to become one of the top 10 dairy processors in the world. From humble beginnings, the Company has since expanded its product offerings and reach to worldwide consumers, while remaining true to its roots. This fall, EY will celebrate the Saputo family with the EY Family Business Award of Excellence.
Back-to-school spending to increase 4.5 % in Canada Montreal, 20 July 2016 Back-to-school spending in Canada this year is set to increase 4.5% over last year, according to EY. Retailers will win their share of the spending pie by targeting not only parents who want to set their children up for success, but also Gen Z - the teens and tweens who are the first true digital natives.
2016 EY Charity Golf Classic raises over $270,000 Toronto, June 27, 2016 On 8 June, 2016, EY partners, staff and the business community participated in the 18th EY Charity Golf Classic. This year’s event raised over $270,000 which will support the Peter Munk Centre for Cardiac Care (PMCC).
Canadian companies make big bets on power and utilities deals in Q1 2016 Calgary, 20 June 2016 Canadian investors buying assets in the US accounted for three of five US power and utilities megadeals in Q1 2016, totalling more than US$18b. This comes as global power and utilities total deal value continued to climb overall, reaching a five-year high of US$44.4b in Q1- a 50% increase over the same period last year, according to EY's latest Power transactions and trends report.
Younger generations forcing retailers to up their game Toronto, 16 June 2016 Gen Z has higher standards than any other generation when it comes to their expectations around a shopping experience - and retailers' survival is dependent on their ability to keep up. According to a recent EY report, e-commerce fulfills Gen Z's needs, and in order for retailers to be relevant, they must translate that experience in their brick and mortar stores.
Canadian Mining Eye index surges ahead in Q1 after several weak quarters: EY Toronto, 24 May 2016 EY’s Canadian Mining Eye index gained 26% during Q1 2016, significantly outperforming the S&P/TSX Composite index and the London Metal Exchange. This is a large turnaround compared to just a 2% gain in Q4 2015. The index’s gains were mainly driven by an increase in commodity prices, largely on the back of a robust increase in gold prices.
Private companies are finding balance amid uncertainty Toronto, 19 May 2016 Since the beginning of the year, the Canadian dollar has hit a 12-year low and subsequently rebounded, the price of oil has been unpredictable at best, and commodity prices have yet to rebound across the board. But according to EY, private businesses are finding balance amid this uncertainty, and many are using the current market conditions as a catalyst for success.
Canadian businesses more bullish about deals than global counterparts Toronto, 12 May 2016 Despite the low Canadian dollar and other challenging economic conditions, Canadian companies say they are actively pursuing M&A opportunities in the near future. According to EY's latest Canadian Capital Confidence Barometer, 61% of respondents plan to actively explore acquisitions in the next 12 months, compared to just 50% of global respondents.
Better workplaces help attract and retain better people, generate better results Calgary, 20 April 2016 With more generations in the workforce than ever before, businesses are being challenged to offer workplaces and cultures that appeal to a diverse range of people. With that in mind, EY moved into a new office in Calgary this week that is a complete reimagining of the traditional office. The firm’s Workplace of the Future combines a flexible, fluid work environment with sleek aesthetics and enhanced technology, delivering EY’s people a space that reflects the firm’s inclusive culture and enables high-performance teaming.
6 forces impacting life insurance in 2016 Toronto, 11 April 2016 The life insurance sector has to pick up the pace on innovation, according to EY's 2016 Life Insurance Outlook. Rapidly advancing technology and changing consumer preferences add to the bleak economic landscape, creating 6 forces for life insurers to manage this year.
7 forces impacting P&C insurance in 2016 Toronto, 11 April 2016 Canada's property and casualty (P&C) insurers are dealing with a host of challenges in 2016 so far - from low interest rates to the weak dollar to increasing competition. According to EY's 2016 P&C Insurance Outlook, they'll have to excel at managing 7 forces impacting the insurance industry if they want to thrive in this environment.
EY seeks boundary-pushing female entrepreneurs Toronto, 9 March 2016 EY is in search of extraordinary women entrepreneurs with the ambition and talent to scale their companies to full potential for its 2016 North American Entrepreneurial Winning Women™ program.
Distress and divestments to dominate mining deals in 2016 Vancouver, 8 March 2016 According to a recent EY report, financial distress among mining and metals companies is expected to shape merger and acquisition (M&A) activity in the sector in 2016, with divestments picking-up pace on the back of volatility and uncertainty on the timing of a recovery.
Innovators wanted: EY looking for outstanding entrepreneurs Toronto, 1 March 2016 Canada needs a jolt of entrepreneurial innovation to jumpstart its economy. Recognizing exceptional achievement is one way to nurture and grow our entrepreneurial culture, and EY is looking to do just that. Today, the firm announced nominations are now open across Canada for the EY Entrepreneur Of The Year™ 2016 Awards.
Talent: banking transformation focal point Toronto, 29 February 2016 The brain drain is a very real outcome of the low loonie. US companies can now offer more for high-demand talent in compliance and risk. It's a worrying development for banks, but also an opportunity for them to re-think their long-term strategy and ask, who's the banker of the future?
What will the federal budget mean for Canadian businesses? Ottawa, 26 February 2016 The 22 March 2016 federal budget is sure to reveal how much the newly-elected government is prepared to act on its many election promises. With low oil prices, a sluggish economy and many sectors seeing declining growth, the federal budget is widely expected to offer some stimulus and assistance for affected regions, businesses and individuals.
Five things to watch in Canada's energy sector in 2016 Toronto, 23 February 2016 Between oil prices plummeting, thousands of layoffs and the Paris Agreement on the global reduction of climate change, 2015 was a turning point for the energy sector around the world. In a new report, EY says there will be more structural changes before the sector finds its footing – and as part of that shift, transactions will accelerate in 2016.
Canadian companies eager to divest and fund growth through strategic sales Toronto, 11 February 2016 Divestments are top of mind in corporate strategies as companies look to extract maximum value from strategic sales, according to EY’s 2016 Corporate Divestment Study, an annual survey of corporate and private equity executives. This is even more top of mind for Canadian companies than their global peers” as 56% of Canadian companies are planning to divest within the next two years, versus 49% globally.
A heads-up for banks: Canada’s FinTech adoption rates could triple in a year Toronto, 28 January 2016 According to EY’s FinTech Adoption Index, Canada has had surprisingly low adoption rates for FinTech offerings—financial services products developed by non-bank, non-insurance, online companies. But while consumers here may be behind, the finding is a timely message for Canadian banks, as adoption could triple within the next 12 months.
More than one-third of organizations say they couldn’t detect a cyber-attack Toronto, 25 January 2016 Cyber security is a growing threat for Canadian businesses – yet according to EY’s Global Information Security Survey, more than one-third (36%) of organizations still don’t believe they can detect sophisticated cyber-attacks. That number is lower than last year (56%), but still a concern as the level of sophistication in attacks continues to increase. Because of this, Canadian organizations in both public and private sectors are collaborating to respond to this threat more effectively and in a timely fashion.