Quebec's tobacco victims are set to receive $4.3 billion as part of a settlement with major tobacco companies, following a court ruling that mandated compensation for 100,000 individuals affected by smoking-related illnesses. The agreement, part of a larger $32.5 billion deal, includes provisions for additional compensation and the establishment of a charitable foundation to combat smoking-related diseases. Approval of the plan is pending from creditors on December 12, with further legal proceedings anticipated across Canada.
BHP has upgraded its rating to Buy, citing overly pessimistic assumptions about iron ore prices and Chinese growth. Recent Chinese stimulus measures, including interest rate cuts and support for the housing sector, aim to boost investor sentiment despite ongoing weak steel production. The mining sector remains sensitive to commodity price fluctuations and currency movements, with a focus on long-term asset management and capital allocation.
Canadian defined-benefit pension plans have seen a slight improvement in financial health, with the median solvency ratio rising to 122% as of September 30, 2024, up from 121% in June. This increase is attributed to positive asset returns, despite rising liabilities from falling interest rates. Mercer Canada emphasizes the ongoing volatility and the importance of vigilant risk management in this environment.
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