Winter Newsletter - Canada-United Kingdom Chamber of Commerce

Est. 1921
CANADA - UNITED KINGDOM
Chamber of Commerce
Over 95 YEARS OF NETWORKING
Winter 2016
Prime Minister Justin Trudeau in
London Pg 7
Inside this issue:
Chamber News
Events
1-5
6-19
Economics
20-25
Energy
26-29
Provinces
30-33
Member News
34-37
New Members
37-39
Events Planner
40
Event Review
Since our last newsletter the
Chamber has hosted 15
events Pgs 6-19 & 27.
Xmas lunch
with
Dr Linda
Papadopolous
Pgs 14-15
Lord
O’Donnell
on
the UK’s
Energy
Policy
Pg 27
Record number of Chamber events in 2015
Canada House
Trafalgar Square
London SW1Y 5BJ
T: +44 (0) 20 7930 4553
[email protected]
www.canada-uk.org
Charter Members
Alberta UK Office
Air Canada
BlackBerry
BMO Financial Group
Canadian High Commission
Canary Wharf Group plc
CGI
CIBC
Dadco Group
European Trade &
Investment Office for
British Columbia
EY
Fasken Martineau
Hatch Associates
HSBC Bank plc
Kinnear Financial
Madano Partnership
McCarthy Tétrault
Norton Rose Fulbright
Ontario International
Nexen Inc
Pharos Security
Québec Government Office
Royal Bank of Canada
Scotiabank
Shell International Ltd
Stikeman Elliott
TD Securities
Wragge Lawrence Graham
&Co
Pgs 6-19 & 27
New members:
Prime Minister Justin Trudeau’s New Cabinet
Many new MPs, from a wide variety
of backgrounds, have been
appointed to senior positions within
the cabinet. Key among these are
Minister of Finance Bill Morneau,
Minister of Justice Jody Wilson-
Four
New
Board
Directors
appointed
Pg 4
Winter 2016
Newsletter Sponsors
Raybould, Minister of Environment
and Climate Change Catherine
McKenna and Minister of National
Defence Harjit Sajjan, all elected for
the first time in October 29...
Pg 7
Tepid 2016 Ahead As Economy Adjusts To Low Oil Prices
It’s fair to say that 2015 was not a
great year for the Canadian economy
or its forecasters alike. At this time
last year, the price of oil had already
fallen to $55 a barrel, and forecasters
were rapidly downgrading their
expectations for Canadian growth in
2015…
Pg 21
Abbyshot Clothiers
Bridgepond
Crowdcube
Enotria Winecellars Ltd
Glacier Media Group
Global Payments Canada GP
Proactive Tax Management
Money&Co
Nasmyth Group Ltd
Operis
Prime Management Group
Saskatoon Regional Ec Dev
Authority
Tour de Force Wines
Warret & Jullion
Dates for your diary:
Jan 26 Networking reception to
meet new members
Feb 16 Evening tax seminar
April 15 Conference on Energy
at House of Commons, London
May 20 AGM & lunch at the
House of Lords
May 27 Annual Golf Day
June 10 7th Annual Chief
Economists debate
Page 1
Page 2
Winter 2016
Chamber Networking evening
in partnership with the High Commission of Canada
To meet New Members
New Members:
Abbyshot Clothiers, Aquinas Education, Bridgepond, Crowdcube, Enotria Winecellars,
Glacier Media Group, Global Payments Canada GP, Money&Co, Nasmyth Group
Omega analysis, Operis, Striding Edge Capital, Sweett Group,
Tour de Force Wines, Warret & Jullion
and others…
26 January 2016
Canada House
Trafalgar Square
London
SW1Y 5BJ
18.00 - 18.40 Registration
18.40 - 19.30 New Member Introductions
Members & their guests: FREE
19.30 - 20.30 Networking
Non Members: £25 inc VAT
If you wish to attend this event please RSVP with registration form & payment where applicable to
[email protected]
Winter 2016
T: +44 (0)207 930 4553
Page 3
NEW CHAMBER BOARD DIRECTORS APPOINTED
Mark Caplan
Managing Director, Head of Europe
Scotiabank
As Regional Head of Europe, Mark provides leadership and oversight for Scotiabank's European operations
and he is also the CEO of Scotiabank Europe plc. Based in London, he is responsible for the overall strategic
direction and execution of Scotiabank’s business. Mark has 25 years of experience in the financial services
industry, with a breadth of experience in leading capital markets businesses.
Before joining Scotiabank in 2010, he worked in a senior capacity for the Bank of Canada and is a former
member of the Monetary Policy Review Committee and the Financial System Review Committee.
Mark holds a BA (Hons) in Business Administration from the Richard Ivey School of Business.
Dr Doris Hiam-Galvez
Regional Director Europe
Hatch Associates Ltd
Dr. Doris is a Chemical Engineer with PhD in Physical Metallurgy. She is currently Regional Director for Hatch
Europe with a major mandate to strengthen and grow the business in Europe. Doris has 18 years of experience
managing global technical organizations for major operating companies. She has been with Hatch for almost 10
years creating new business to grow the company in new regions by understanding customer needs,
anticipating future needs and creating new services to meet them. Doris is leading the implementation of a
growth strategy in Europe targeted to providing custom solutions to complex industry challenges and working with clients’
emerging industrial processes, recovering energy and valuable materials from waste streams, impurity management, water
management, extending the life of key equipment & lowering operating costs by improving plant stability. Prior to joining Hatch,
Doris was leading major technology development programs from concept to market in the steel and aluminium industries.
Sarah Bradley
Deputy Head of UK Government Relations
Shell
As Deputy Head UK Government Relations, Sarah has responsibility for Shell’s interface with the UK
Government on the topic of decarbonisation and Shell’s interests in Africa. Based in London, the government
relations department works to protect, create and deliver business value for Shell. In nearly 10 years in Shell
she has held a variety of roles covering finance, strategy, corporate communications, and media. In 2015 Sarah was seconded
to McKinsey to support the Energy Transitions Commission Secretariat. Prior to her career at Shell, Sarah worked for JP
Morgan, the British Army and has a degree in Politics from Edinburgh University.
Nick Iliff
Partner, Wragge Lawrence Graham & Co LLP
Nick Iliff divides his time between Wragge Lawrence Graham's Birmingham and London offices. He has
specialist expertise in both project and real estate finance. He has worked on a wide range of project financings
across many sectors since the late 1990s. He has been actively involved in devising methods for the costeffective management and delivery of the legal input on multiple infrastructure projects. Many of these projects,
where he has been a leading adviser, were instrumental in the creation of standard form documentation,
structures and processes which have influenced and informed the templates for the delivery of Public Private
Partnerships across the world.
Nick was for many years involved in focusing on the very active UK PPP (P3) market in which he has closed more than 80 deals.
CHAMBER FORUMS
The Chamber currently has 4 forums: Energy; Natural Resources, SME and Technology Forums. The Forums organise 3-4 events per annum specifically
targeting their sectors and members/potential members with a view to showcasing sector talent and expertise from Canada and the UK, and a view to
providing and contributing to sector debate. Members currently on the Forum organising committees are listed below:
Energy Forum
Rob Brant (Chair) (McCarthy Tetrault)
Sarah Bradley(Shell)
Nick Iliff (Wragge, Lawrence Graham)
Chris Morritt (Nexen)
Matthew Moth (Madano Partnership)
Michael Padua (Alberta UK Office)
Graham Hilton (BC Government)
SME Forum
Richie Clark (Chair) (Fox Williams)
Wayne Bewick (Trowbridge)
Technology Forum
Matthew Grisoni (Chair) (CGI)
Bob El-Hawary (BlackBerry)
Aaron Rosland (Ontario International)
Richie Santosdiaz (BC Government)
Mark Hill (ResponseTek)
Natural Resources
Al Gourley (Fasken Martineau)
Nick Iliff (Wragge, Lawrence Graham)
Derek Linfield (UK Board Advisor)
Terry Irwin (TCii)
Nathan Cox (Halo Financial)
Steve Ord (Colourview Printers)
Colin Williams (Crosshands Group)
Members
Page
4 wishing to participate in our Forums should contact the Chamber Secretariat team: [email protected]
T: +44 (0)20 7930 4553
Winter 2016
President’s Remarks
Having just seen out a very
successful 2015 for the
Chamber with record numbers
attending our event
programme, and growth in our
membership numbers to levels
not seen since the early 90s,
we turn to 2016, and new
challenges and opportunities.
There has been a change of
government in Canada since
our last newsletter, and new
PM Justin Trudeau met many
of you on his way to Paris and
the COP21 climate conference.
As National PR notes (Pg 28)
COP 21 was perceived as a
‘success after two weeks of
fraught negotiations’ and
Canada intends to play its full
part in delivering on the Paris
Agreement (see Pgs 28-31).
The PM’s new Liberal cabinet
has an ambitious agenda and
‘includes few with political
experience but many with
-William Swords
significant real-world experience’
(Pg 7). His new ministers face
significant challenges in the
coming months, not helped by the
continued decline in the resource
market. In the view of Charter
member TD Securities ‘Canada’s
economy will continue to face
challenges in 2016, but overall
growth is expected to see a
modest pickup’ (Pg 21), with the
new government planning to
boost infrastructure spending.
We hope that some of the new
cabinet will visit the UK during the
year and have a chance to meet
members at events. We also
expect to organise some events
on the opportunities around the
CETA free trade agreement ‘the
most significant new free trade
agreement on the block for many
years’ (Cecilia Malmström, EU
Commissioner for Trade), and
debate the likely EU referendum
in the UK and its ramifications for
Director’s Comments
the end of January at Canada
House for members and their
guests to meet some of our latest
new member companies.
Our 2016 programme is
shaping up and we will be
hosting a networking evening at
Thanks are due this edition to our
newsletter sponsors Dadco,
Madano and TD Securities and
Winter 2016
The Canada-UK
Chamber of
Commerce is a
member of the
Council for
Foreign
Chambers in the
UK which
includes over 35
bilateral
chambers.
This year we are launching our
fourth forum, the new Natural
Resources Forum which will
focus on extractive industries.
In addition our Energy, SME and
Technology Forums will
continue to host and co-host
sector specific events. If you have
ideas for the forums or our
general events programme do get
in touch with me at the
Secretariat.
Secretariat News
At Xmas we said Goodbye to
I wish a warm welcome to new
Charter members Hatch
Associates and Norton Rose
Fulbright, and our new Board
Directors Mark Caplan,
(Scotiabank) Dr Doris HiamGalvez (Hatch), Nick Iliff
(Wragge Lawrence Graham) and
Sarah Bradley (Shell). The
Board and I are looking forward
to meeting more members in the
New Year. We start with a
networking night on Jan 26.
Hope to see you there.
-Nigel Bacon
Since our last newsletter we
have been busier than ever
hosting a further 15 events
including receptions with
Toronto Mayor John Tory and
Martin Donnelly CMG,
Permanent Secretary to the
UK’s Business, Innovation and
Skills Dept, and many speakers
at our forum and networking
events, details of which appear
in this edition. We ended 2015
having hosted and co-hosted a
record 39 events with almost
3,000 attendees, and having
over 300 organisations in the
Chamber membership.
Members should have received
their copies of the 2016
Member Directory and our
2016 Corporate lists will be with
you very soon in digital and
hard copy formats. Please
contact the Secretariat for
information on how to create a
login for your company for the
Members’ Area of the website.
our members .
our many contributors.
We are also delighted to
welcome new Charter members
Hatch Associates and Norton
Rose Fulbright, and four new
Board Directors.
Wishing all our members a happy
new year of networking.
Editor, advertising,
design &
distribution:
Nigel Bacon
Executive Director
T: +44 20 7930 4553
[email protected]
-Jen & Victoria
our intern Archana after 12
successful months and are
currently recruiting a successor.
Our quote this edition comes
from Maya Angelou:
‘I've learned that people will
forget what you said, people will
forget what you did, but people
will never forget how you made
them feel’.
Page 5
A change of Federal Government: initial thoughts
As the Federal election results were
coming in live, the Chamber and High
Commission of Canada hosted a
breakfast panel debate and briefing at
Canada House on 21 October
sponsored by Chamber Charter
member Madano Partnership and
National PR.
Page 6
Expressing their initial thoughts and
reactions as the results were being
declared were panellists:
The host for the breakfast was H.E.
Gordon Campbell, High Commissioner
of Canada to the UK.
Margaret MacMillan OC, historian,
professor and author; Dan Maber, Vice
President, National PR; and Mark
McKinnon, Senior International
Correspondent from the Globe and Mail.
The Chamber would like to thank Board
Director Matthew Moth and Madano
Partnership for help with this event and
for agreeing to sponsorship.
Winter 2016
Prime Minister Justin Trudeau: Note on the New cabinet
Prime Minister Justin
Trudeau’s cabinet was sworn
in on Wednesday, November
4, with the appointment of 30
ministers. The cabinet will be
responsible for implementing
the new Liberal government’s
agenda and fulfilling the
Party’s election promises.
For the first time, the Prime
Minister ensured a 50-50
gender balance, naming 15
men and 15 women to
cabinet.
Tasked with executing an
ambitious agenda, the
cabinet includes few with
political experience but many
with significant real-world
experience. Guiding them will
be long-time political
veterans, such as Minister
of Public Safety Ralph
Goodale, who was first
elected at the age of 24 in
1979, Minister of
Agriculture Lawrence
MacAulay, who has been a
Member of Parliament since
1988, and Minister of
Foreign Affairs Stéphane
Dion, a former Leader of the
Liberal Party with 20 years of
experience as Member of
Parliament.
Many new MPs, from a wide
variety of backgrounds, have
been appointed to senior
positions within the cabinet.
Key among these are
Minister of Finance Bill
Morneau, Minister of
Justice Jody WilsonRaybould, Minister of
Environment and Climate
Change Catherine
McKenna and Minister of
National Defence Harjit
Sajjan, all elected for the first
time on October 29.
The Prime Minister has
promised a near complete
departure from the previous
government, both in priorities
and in tone. This includes
refocusing on areas of
traditional Liberal importance,
such as the environment.
Minister of Foreign Affairs
Stéphane Dion may have best
summed up this shift during
his first press conference
when he told Canadians that:
‘We were elected promising
sustainable development. We
believe in development, but it
must be sustainable.’
The priorities of the Liberal
government are numerous
and the newly appointed
ministers have a lot on their
plates. The government has
already acted quickly on
several files, participating
actively in the COP21
conference, beginning the
process of calling a national
inquiry into missing and
murdered indigenous women,
implementing their promised
middle class tax cut, and
beginning to resettle more
Syrian refugees.
The new ministers face
significant challenges in the
coming months, driven in
large part by the continued
decline in the resource market
and accompanying slower
than expected economic
growth. This is impacting the
economy while also reducing
expected government revenues,
blowing a hole in the
government’s projections.
While the Prime Minister
previously stated that deficits
would be kept to $10bn a year
for three years, some are
already predicting that they
could balloon to as much as
$25bn a year.
Minister Morneau faces a
significant challenge as he
works on his first budget, and
other ministers may face the
duel challenges of tackling
extensive lists of priorities and
stimulating a shaky economy
with fewer fiscal resources than
they had expected.
Parliament is set to convene on
January 25, when the governing
in earnest will begin.
‘Tasked with
executing an
ambitious agenda,
the cabinet includes
few with political
experience but many
with significant
real-world
experience.’
NATIONAL
Public Relations
Contacts:
Dan Mader
Vice President
NATIONAL Public Relations
81 Metcalfe Street
2nd Floor
Ottawa, Ontario
K1P 6K7
Canada
[email protected]
Matthew Moth
Founding Partner
Madano
7th Floor, 160 Blackfriars Rd
London SE1 8EZ
T: +44 (0) 20 7593 4023
[email protected]
www.madano.com
Members Business Update 1
Air Canada announced Dec 15
that Craig Landry, currently VP,
Marketing, has been appointed
President of the Air Canada Leisure
Group. In his new position, Mr.
Landry will be responsible for the
integrated leisure group, which
consists of the Air Canada
Vacations tour operator business
and the leisure airline Air Canada
rouge.
BlackBerry reported 43% yr-over-yr
organic growth in software license
Winter 2016
revenue for the 3 months ended
Nov 28 with total software and
services revenue growing 183% yrover-yr.
Bombardier Inc announced Dec 9
the immediate appointment of
Laurent Troger as President,
Bombardier Transportation.
Mr. Troger, who has been with the
company for 11 years, had recently
been promoted to COO of
Transportation. He succeeds Lutz
Bertling, who is stepping down to
pursue other career opportunities.
CAE announced Dec 21 a series of
training solution contracts valued at
more than C$100m with 5 airlines.
The diversity of these agreements
highlights the span of CAE's full
range of training programs that
cover the entire career life cycle of
professional pilots and CAE's
leadership in developing training
equipment solutions for next
generation aircraft types.
Page 7
A Post-Election Evening with Wayne Wouters
The Chamber hosted a post-elections evening networking
event with over 120 attending, sponsored by Navigator Ltd
and McCarthy Tetrault in November entitled: ‘Canada’s
General Election: Canada’s Left Turn - What this means for
business and the UK’.
Guest speaker was The Hon. Wayne Wouters, P.C.,
former Clerk to the Privy Council and Secretary to the
Cabinet who was interviewed by Jaime Watt, Executive
Chairman, Navigator Ltd. Wayne Wouters, is Strategic and
Page 8
Policy Advisor to McCarthy Tétrault and has a distinguished
37-year career in public service, including 5 years serving as
the Clerk of the Privy Council of Canada. As Clerk he held the
roles of Deputy Minister to the Prime Minister, Secretary to
the Cabinet and Head of the Public Service, providing direct
advice and support to the Prime Minister on all issues
affecting and implicating the federal Government.
The Chamber would like to thank Navigator, McCarthy
Tetrault and the High Commission for sponsoring this event.
Winter 2016
Winter 2016
Page 9
Toronto Mayor John Tory at the Chamber
Toronto Mayor John Tory
addressed over 130 members in
October. Mayor Tory’s program
focused on showcasing that
Toronto is open for business as
well as exploring ways London is
working to move infrastructure
forward. The Mayor was
introduced by Deputy High
Commissioner Alan Kessel with
Chamber Board Director Aaron
Rosland acting as MC.
Elected in December 2014 as the
city’s 65th Mayor, John Tory’s visit
to London coincided with the
change of federal Government in
Canada. As he stated to those
present, Toronto is Canada’s
largest city and has a major stake
in the measures implemented by
the federal government on key
Page 10
issues such as transit,
infrastructure and housing. ‘And so
I have made a pointed effort since
my election ... to join the discussion
with my fellow mayors - individually
and as a group - and to directly
advocate for Toronto’s priorities
with the Prime Minister, his
ministers and MPs… I’m going to
make sure those commitments
result in real action and benefits for
the people of Toronto, and I
promise to work effectively and
cooperatively with our new
Parliament and government.’
The Chamber is grateful to the City
of Toronto, Ontario International
and High Commission of Canada
for their assistance with this event.
Winter 2016
Toronto Mayor at the Chamber cont.
Winter 2016
Page 11
Business Innovation & Skills at the Chamber
Martin Donnelly CMG,
Permanent Secretary to the
UK’s Business, Innovation
and Skills Department
addressed over 120
representatives from a dozen
bilateral chambers including
the Canada-UK Chamber of
Commerce in an evening
reception at Canada House in
November.
With a background including
extensive economic and
international experience -
Page 12
he joined the FCO Board in
2004 as Director General,
Europe & Globalisation,
where he was G8 foreign affairs
Sherpa; he was Deputy Head of
the Cabinet Office European
Secretariat, leading work on
European economic reform for
the government 1998-2003
he has been a member of the
personal staff of Leon Brittan,
then European Commission
Vice President; and he has
been on secondment to the
French Finance Ministry -Mr
Donnelly outlined his thoughts
on ‘The UK’s industrial
strategy’.
Canada-UK Chamber
President William Swords
acted as host on behalf of the
Council of Foreign Chambers
of Commerce, and Chamber
Board Observer Greg
Houlahan welcomed the
international guests and the
CEOs of the 12 participating
Chambers (seen in the photo
above left with the guest of
honour).
Winter 2016
7th Annual International Wines, Beers and Spirits evening
The Chamber joined a dozen other
bilateral chambers in a wine, spirits and
beer tasting evening held at Church
House Conference Centre in
Westminster on 23 September.
Chambers taking part included those
representing: Argentina; Austria;
Belgium & Luxembourg; Canada;
France; Georgia; Italy; Japan; Hungary;
Mexico; Portugal; and Spain. Over 250
attended the event which was being
held for the seventh year. Over 40 of
our Canada UK Chamber members
Winter 2016
attended the event with Peller Estates
providing VQA Niagara Peninsula Ice
Cuvée and icewines on behalf of Canada.
Notes were available on all the wines:
Ice Cuvée: very fine bubbles spiral
upwards, through this brilliant yellow straw
coloured wine. The bouquet of apricot,
yeast and ripe apple, with hints of honey,
are followed by tropical fruits on the palate
and a refreshing pink grapefruit finish.
Excellent with spicy Asian food or Indian
curry dishes.
Ice Cuvée ‘Rosé: a medium-bodied,
refreshing sparkler that is slightly off-dry,
yet finishes dry as a result of the delicate
tannins from the Cabernet Franc. Enjoy
before a meal with assorted appetizers;
during a meal with grilled salmon, roasted
herb chicken or lightly spiced pork
tenderloin; or after a meal simply on its
own.
For more info go to: www.peller.com
Page 13
Xmas lunch with Dr Linda Papadopoulos
In December the
Chamber hosted for
our Xmas lunch
Canadian Dr Linda
Papadopoulos, one of
the most well-known
and respected
psychologists working
in the UK today. Her
14-year career as a
research scientist and
practising psychologist
has led to her work
being published in
some of the most wellregarded academic
journals and given rise
to a high profile mediacareer. As well as her
clinical and academic
work Dr. Papadopoulos
is often enlisted to
Page 14
consult with large
corporations who want to
utilise her research and
academic background to
effectively conduct
studies and analyse
quantitative and
qualitative data. Her
analysis provides major
brands such as Dior,
Speedo, and Renault
with valuable insight on
topics such as consumer
behaviour.
Dr Linda’s talk on
‘Identity’ was based on
her TED lecture on the
same subject and drew
wide ranging follow up
questions. For more go
to:
www.youtube.com/watch
?v=lAdOeP6d3pQ
Chamber President
William Swords acted as
MC and Vice President
Brian Smith delivered
the Vote of Thanks.
The Xmas raffle raised
over £1,300 in aid of the
Maple Leaf Trust and we
are extremely grateful
for the many prizes
members donated for
the raffle.
The Chamber is grateful
to Board Director Victor
Dahdaleh for his help
with the organising of
this event.
Winter 2016
Xmas lunch cont.
Winter 2016
Page 15
Lunch with Michael Downey Chief Executive of the LTA
Board, Charter and specially
invited members enjoyed a
lunch in the Autumn at
Canada House with Canadian
Michael Downey, current
Chief Executive of the Lawn
Tennis Association in the UK.
Michael Downey joined the
LTA in 2014 after 9
successful years as President
and CEO of Tennis Canada,
during which time the sport
has enjoyed significant
growth, both at grassroots
Page 16
and at the elite level. As CEO,
Michael is responsible for
leading the execution of the
LTA’s long term strategy, all day
-to-day management decisions,
and acts as a liaison between
the Board and management of
the LTA.
Michael was formerly Regional
President for Canada's largest
brewery, Molson Canada, and
VP, Sales and Marketing, for
the Toronto Raptors (NBA), the
Toronto Maple Leafs (NHL)
and the Air Canada Centre.
Mr Downey outlined the latest
strategic thinking of the LTA to
grow the sport at grassroots in
the UK. [The event was held
before Britain’s success in the
Davis Cup Final.]
The lunch was kindly
sponsored by Madano
Partnership.
Winter 2016
Focus on Creative Canada
The Chamber with the
provincial governments of
BC, Ontario and Quebec as
well as the High Commission
of Canada hosted an evening
panel debate on the Creative
Industries in the Autumn. The
event highlighted the
strengths of the film and TV
industry, with real life success
stories discussed outlining
their journeys of doing
business in Canada and
setting up a presence. The
event specifically focused on
Winter 2016
Canada’s thriving film, visual
effects, digital media and
gaming industries, and access
to finance in Canada with
financial products tailored to the
creative industries.
On the panel were:
Andrew Chang-Sang
President, Productivity Media;
Mark Benson, Global MD MPC
Film; Eric Fournier, CEO
Moment Factory; and
Victor Wade, Head of 2D Vancouver Double Negative
Event Moderator was film
producer Richard Holmes.
The Chamber is grateful to
Richie Santosdiaz (BC
Government); William Samman
(Quebec Government); Aaron
Rosland (Ontario International);
and Pierre Kowlessar (High
Commission of Canada) for
their help with this event.
Page 17
SME Forum attracts large turnout for Crowdfunding event
The SME Forum
hosted a networking
evening in late
September at Canada
House on
Crowdfunding with
guest speakers Nicola
Horlick, CEO of
Money&Co, and
Michael Wilkinson,
Head of Equity,
Crowdcube Ltd. The
event was sponsored
by Scotiabank and Fox
Williams LLP, and
moderated by Jon
Segal, Partner,
FinTech & Alternative
Finance, Fox Williams.
Over 160 members
and guests attended
the event.
Nicola Horlick worked
with Leonard Licht, one
of the leading fund
managers in the City
during the 1980s.
Together, they built up
Page 18
the Specialist Equity
team of what became
Mercury Asset
Management. Nicola
was appointed MD of the
UK business of Morgan
Grenfell in 1992. Over
the following 5 years,
funds under
management increased
from £4bn to £22bn. In
2011, Nicola became
one of the founding
partners and Chairman
of Rockpool
Investments, a private
equity business
remaining as Chairman
until early 2015. She is
currently CEO of
Money&Co a person-tobusiness lending
platform, connecting
people looking for a
better rate of interest on
their cash with
businesses seeking
finance to grow.
Money&Co is
experiencing rapid
growth as many
companies are still
finding it difficult to
borrow money from
banks.
Crowdcube is the
‘world’s leading
investment
crowdfunding platform’
and enables anyone to
invest alongside
professional investors in
‘start-up, early stage
and growth businesses
through equity, debt and
investment fund
options.’
The Chamber is grateful
to Richie Clark, Chair of
the SME Forum, for his
help in putting together
this event, as well as
the High Commission of
Canada for use of the
facilities at Canada
House.
Winter 2016
Winter 2016
Page 19
Page 20
Winter 2016
Canada - Tepid 2016 Ahead As Economy Adjusts To Low Oil Prices
Dec 24
Looking ahead to 2016
2015 –Not a Great Year
Looking ahead to 2016, the
housing market is likely to
cool as rising interest rates
and increased down payment
requirements cool demand.
Many parts of Canada’s
housing market have already
cooled, but we expect to see
this extend to hotter markets
like Toronto and Vancouver. A
slowdown in the housing
sector is also likely to restrain
consumer spending growth,
as there is less impetus for
housing-related purchases.
Just as important, personal
income growth is likely to be
held back by job losses and
falling income in commodityproducing regions. And,
Canadians continue to
shoulder heavy debt burdens,
which will keep consumers
spending within their means.
It’s fair to say that 2015 was
not a great year for the
Canadian economy or its
forecasters alike. At this time
last year, the price of oil had
already fallen to $55 a barrel,
and forecasters were rapidly
downgrading their
expectations for Canadian
growth in 2015. While we
were among those
downgrading their outlook,
the hit to the economy
ultimately proved larger than
we had anticipated. Indeed,
the economy contracted in
the first half of the year,
staged a short-lived
comeback in the third
quarter, and appears likely to
eke out only sub-1% growth
in the fourth.
Underperformance
Much of the
underperformance in
Canadian growth can be
attributed to the fact that oil
prices also failed to meet
expectations. Since last
December, the price of oil
has fallen another 35%,
helping bring the Canadian
dollar down 16% and the
TSX down 10%...
Even so, there were some
upside surprises in 2015.
Residential investment was
one area that continued to
outperform expectations, as
the housing market
responded to the Bank of
Canada’s two recent rate
cuts. Lower mortgage rates
kicked off another spurt of
housing activity, especially in
regions that were more
insulated or benefitting from
the effects of lower oil prices.
In terms of non-residential
investment, with oil prices
below $40 per barrel,
investment in the oil patch is
likely to continue to languish
over the next several
quarters. While there is likely
to be some offset from other
sectors, the overall
investment picture will be one
of weakness over the next
year. Perhaps the only silver
lining is that the majority of
the adjustment is now in the
rear view mirror. Compared to
the 10% fall in investment that
took place in 2015 (fourth
quarter to fourth quarter), we
anticipate a decline of only
1% in 2016.
Infrastructure investment
On the brighter side of things,
the new Liberal government’s
plans to boost infrastructure
spending should provide a
fillip to economic growth,
although most will come in 2017
rather than 2016. Stronger US
demand should also see export
growth accelerate, helped by a
weaker loonie. The currency will
also see more travel dollars
spent at home, boosting tourism
-related sectors.
All told, Canada’s economy will
continue to face challenges in
2016, but overall growth is
expected to see a modest
pickup. From roughly a half a
percent in 2015 (Q4/Q4) we
expect growth to average close
to 2% in 2016…
That acceleration isn’t likely to
generate much inflationary
pressure, enabling the Bank of
Canada to keep current
monetary stimulus in place in
order to facilitate the economy’s
adjustment to a lower oil price
environment.
‘All told, Canada’s
economy will
continue to face
challenges in 2016,
but overall growth is
expected to see a
modest pickup.
From roughly a half
a percent in 2015
(Q4/Q4) we expect
growth to average
close to 2% in
2016...’
Read more at:
www.td.com/document/PDF/
economics/weekly/
BottomLine_20151224.pdf
TD Economics
Author:
Leslie Preston
Senior Economist
TD Securities
T: +1 416 983 7053
www.td.com/economics
Contact:
Brian Smith
Vice Chair, Head of Europe &
Asia Pacific
TD Securities
60 Threadneedle Street
London
EC2R 8AP
T: +44 (0)20 7448 8354
[email protected]
www.tdsecurities.com
Members Business Update 2
ArcelorMittal has announced new
organisational structure for the
Americas: Jim Baske will
be Executive VP of ArcelorMittal
and CEO ArcelorMittal North
America (excluding USA); and John
Brett will be Chief Executive of
ArcelorMittal USA effective 1st Jan.
Winter 2016
Dec 17 - institutional investors and
banking Quebec announced a new
investment of $300m in Agropur
Cooperative with $150m from
Caisse de dépôt et placement du
Québec; $37.4m from National
Bank and $32.4m from
Investissement Québec.
Sweett Group -provider of
professional services for the
construction and management of
building and infrastructure projectshas secured a two-year Extension
of Term on the UK’s Network Rail’s
Project Support Services
Agreement.
Page 21
RBC Canadian PMI drops lower in December
‘Survey respondents
noted that soft
domestic demand,
especially from
clients within the
energy sector, had
offset the marginal
increases in new
work from abroad.’
RBC
The December 2015 RBC
Canadian Manufacturing PMI
indicated that business
conditions deteriorated at a
slightly faster pace relative to
November. Specifically, the
PMI index for December
dropped to 47.5 from 48.6 in
November. This represented
the weakest level of
confidence since the index
was first compiled in October
2010. The PMI is calculated
as a diffusion measure with a
reading above or below 50
indicating improving or
deteriorating business
conditions in the
manufacturing sector. The
further the reading is above
or below the breakeven level
of 50, the greater the pace of
improvement or deterioration.
The recent drop in the PMI
coincided with renewed
downward pressure on oil
prices, which dropped to
$36.6/barrel in December
from $42.6/barrel in
November and $46.2/barrel
in October. The December
PMI index indicated limited
offset from strengthening
export demand benefitting
from a rising US economy
and falling Canadian dollar.
The PMI is an aggregate of 5
major components. In
December, 4 of these
components contributed to
the weakening in the overall
PMI measure. The most
sizeable deterioration
occurred in the output
measure, which dropped to
46.9 in December from 48.9
in November. Delivery
times, which enter the PMI
inversely, jumped to 49.7
from November’s reading of
48.2. This indicated that
delivery times barely slowed
in December, with
respondents indicating that
lower demand for raw
materials contributed to the
improved delivery times in
the month. The employment
measure sank sharply to
46.4 in December from 47.9
in November. Deterioration
was attributed to a lack of
new work as well as tighter
cost controls. The key new
orders measure dropped to
47.4 in December from 48.1
Page 22
in November. ‘Survey
respondents noted that soft
domestic demand, especially
from clients within the energy
sector, had offset the
marginal increases in new
work from abroad.’ The only
PMI component to indicate
less weakness was the stock
of purchases measure.
Although it indicated still
significant slowing in
purchases of production
inputs with an index reading
of 47.8, this was up from the
November reading of 45.9.
Other components of the
survey, which are not
included in the calculation of
the overall PMI measure,
were evenly split with 2
measures showing an
improvement and 2
measures indicating
weakening conditions.
Encouragingly, the export
orders measure not only
showed rising demand but
also at a slightly faster pace
relative to November;
however, the pace of rising
demand remained relatively
modest with a December
index reading of 51.4
compared to 50.9 in
November. The improvement
reportedly reflected the effect
of the weaker Canadian
dollar and ‘successful efforts
to enter new overseas
markets.’ Inventories of
finished goods continued to
decline, although barely so
with a December index
reading of 49.8, which was
up from the 48.8 recorded in
November. More
discouraging was that the
backlog of work index sank
to 44.9 in December from
47.1 in November. Input
purchases slowed at an even
faster pace in December with
the index reading dropping to
46.2 from 47.3 in November.
Input prices continued to
rise in December, although at
a slower pace relative to
November with the index
measure dropping to 54.6
from 57.4. Respondents
indicated that the weaker
currency applied upward
pressure, although this was
tempered by falling global
commodity prices. In
contrast, output prices fell,
with an index reading in
December dropping below 50
to 48.3 and were down from
the 50.5 recorded in
November. Although this
indicated a modest pace of
falling prices, it represented
the fastest rate of decline
since the index was first
compiled in October 2010.
Price reductions reportedly
reflected ‘intense competitive
pressures.’
The RBC PMI is also
calculated on a regional
basis for Ontario, Quebec,
Alberta and BC, and the Rest
of Canada. The effect of
lower oil prices is clearly
evident in the Alberta and BC
region with the index reading
in December of 43.9 that
represented the fastest pace
of deterioration in the
country. It is of note that this
represented slight
improvement from the
November reading of 43.4. In
fact, Alberta and BC was the
only region to show an
improvement in the month.
The index reading for
Quebec of 46.2 was
particularly disappointing,
because it represented a
deepening in the pace of
weakening business
conditions relative to the
November index of 49.1. This
weakness is surprising,
because the drop in oil prices
largely imply lower energy
costs for the province of
Quebec, with its export sector
seemingly in a position to
benefit from strengthening
US growth and a weaker
Canadian dollar. This support
is evident in the index
reading for Ontario, which
continued to show rising
confidence, although the
pace of improvement
slowed...
Read more at:
www.rbc.com/economics/dailyeconomic-update/Jan-4.html
Contact:
Paul Ferley
Assistant Chief Economist
RBC Economics
www.rbc.com/economics
Winter 2016
Bank Of Canada Firmly on Hold
Dec 2
The Bank of Canada held
interest rates steady at 0.5%
today, as expected.
The statement was ever so
slightly more dovish than in
October, which may have
disappointed some looking for
more cautious language from
policymakers following the
surprisingly large contraction
in September GDP. Markets
were pricing small odds of a
cut in early 2016 heading into
the meeting, but poststatement have backed off
and are now more neutral
through much of next year.
Interestingly, the paragraph
on inflation, which had been
the first paragraph in the
statement for much of the past
two years, was moved to the
bottom of the statement,
highlighting the BoC’s lack of
concern on that front.
Here are some key quotes
from today’s press release:
While global growth is
‘evolving essentially as the
Bank had anticipated’ and ‘the
US economy continues to
grow at a solid pace…(US)
private domestic demand has
proven slightly less robust
than expected.’ There’s a bit
more caution on the US here.
There was no mention of
emerging market worries,
which had been prevalent in
the prior few statements.
Perhaps the most important
line in the statement is that
‘policy divergence is expected to
remain a prominent theme.’ This
is likely a message to those who
think that the Bank could be
pressured to tighten as the Fed
pushes rate higher. Governor
Poloz is making it clear that
even as the Fed hikes,
Canadian rates will stay steady.
Staying with this theme, the
statement later says that ‘while
bond yields are slightly higher,
financial conditions remain
accommodative in Canada.’ This
could be a warning to ensure
Canadian bond yields don’t
mirror the US move higher as
the Fed hikes (which we expect
later this month).
On the domestic economy,
‘the dynamics of growth have
been broadly in line with the
Bank’s MPR outlook. The
economy continues to undergo a
complex and lengthy adjustment
to the decline in Canada’s terms
of trade.’ This is consistent with
what the Bank has been saying
for a while now, as the economy
continues to shift away from
commodity-driven growth toward
exports. The language on that
front was upbeat as ‘exports are
picking up, particularly in
exchange rate-sensitive
categories.’ Lastly, the comment
‘vulnerabilities in the household
sector continue to edge higher
while overall risks to financial
stability are evolving as
expected’ is unchanged from the
October statement.
Bottom Line:
hold for the foreseeable future.
Following the July rate cut,
Governor Poloz set a high bar
for further easing which has not
been reached. Indeed, the
economy has evolved largely in
line with the October MPR
forecast, with 2015H2 GDP
growth likely to be around 2%.
Barring a meaningful change in
the economic backdrop - a big
move in oil (up or down), a
slump in exports, surprise
weakness in the US - the BoC
could be on the sidelines for
some time. If January’s surprise
rate cut was the climax for the
BOC this year, today was the
anti-climax.
Read more at:
www.bmonesbittburns.com/economics/
econofacts/20151202a/econofacts.pdf
Author:
Benjamin Reitzes
Senior Economist
BMO
T: +1 416 359 5628
[email protected]
www.bmonesbittburns.com
‘Barring a
meaningful change
in the economic
backdrop - a big
move in oil (up or
down), a slump in
exports, surprise
weakness in the US the BoC could be on
the sidelines for
some time…’
BMO
Contact:
William Smith
Managing Director & Head of
Europe & the Middle East
BMO Financial Group
95 Queen Victoria Street
London
EC4V 4HG
T: +44 (0)20 7664 8101
[email protected]
Today’s statement reinforces
that the Bank looks to be on
Members Business Update 3
Jan 5 – Aeroplan announced that
members can start earning miles
across the full automotive customer
journey on all Toyota and Scion
vehicles in Canada, as part of its new
partnership with Toyota Canada Inc.
Prime Minister’s Questions in the House
of Commons on 18 Nov. He also
referred to the Group as a creator of
‘high quality local jobs and
apprenticeships in the engineering
sector’.
Craig Tracey, Conservative MP for
North Warwickshire and Bedworth,
cited Nasmyth Group as an example
of why manufacturing was thriving in
his constituency when he spoke in
Rio Tinto unveiled in early Dec one of
the largest diamonds ever discovered in
Canada. The 187.7 carat gem-quality
rough diamond, known as The Diavik
Foxfire, was discovered at the Diavik
Winter 2016
Diamond Mine in the remote Northwest
Territories of Canada. The Diavik
Foxfire diamond was showcased during
an exclusive preview at Kensington
Palace in London.
A £369m contract to support the RAF’s
fleet of C-130 Hercules transport
aircraft has been awarded by the
Ministry of Defence to Rolls-Royce,
Marshall Aerospace and Defence
Group, and Lockheed Martin.
Page 23
Page 24
Winter 2016
Canadian growth uncertainties keep BoC easing risks alive
Dec 7
In addition to the ongoing
adjustment in natural
resources and the spillover
effects across the rest of the
economy, at least 4 other
factors combine to make it
difficult to assess risks to our
forecast for modest Q4
economic growth. On balance
they point to downside risks.
The Bank of Canada spelled
out its expectations (see
www.gbm.scotiabank.com/English/
bns_econ/
scotiaflash20151202A.pdf ) and,
should those expectations be
dashed, then another rate cut
cannot be ruled out.
First, because GDP growth
ended Q3 with a 0.5% m/m
contraction in September, the
hand-off to Q4 is poor: growth
is tracking at a contraction of
1.1% in Q4 due solely to the
Q3 hand-off. Further, October
trade data, which is the only
material Q4 data point we
have so far, suggests exports
are already tracking at a -8%
q/q annualized decline this
quarter, and will thus do little
to lift growth. Plainly put, this
purely mathematical fact puts
the economy behind the eight
ball on Q4 growth tracking.
Second, however, is that a
considerable portion of what
drove the weakness in
September GDP was likely
Winter 2016
transitory and focused upon a
5% single-month drop in output
in the mining, oil and gas sector.
Contracting activity in nonconventional oil and gas
extraction stemmed from
production issues at Nexen and
Syncrude oil sands facilities that
are forecast to abate in October.
These projects ramped back up
to full production mid-way
through September and we
anticipate a complete reversal of
the losses reported. As well, the
two major oil sands projects
continued raw bitumen
production during downtime,
placing products in onsite
storage, suggesting an upside
risk for non-conventional activity
m/m in an October release. We
anticipate continued growth in
non-conventional oil production
given newer project expansion,
including Surmount Phase II and
Sunrise oil sands, that are
ramping up through the
remainder of the year.
Conventional oil and gas
extraction and petroleum and
coal manufacturing will remain a
downside risk to this outlook, as
we expect continued declines in
conventional oil and gas
extraction as wells dry up and
are not replaced. The number of
active rigs drilling in Canada
remains near the 10-year low. As
well, substantial investment at
the Irving refinery in Saint John
forced a shutdown in September
and was completed in late
October. This will weigh on year
-ago growth in petroleum
manufacturing, though we may
see a small month-ago bump as
the facility came back online.
Third, Canada has been
plagued by a highly unusual
number of positive and negative
shocks of a temporary nature
this year and they have swung
industry level growth patterns all
over the map as a
consequence. The question
going forward is whether the
lifting of those one-off distortions
will lead to a sustained
expansion.
Fourth, the volume of Canadian
business inventories relative to
sales is at its highest since the
global financial crisis. Inventory
disinvestment has begun but
either a) has much further to
run, or b) requires a strong
surge in sales to bring
inventories back into balance.
The former is more likely in our
view and that portends ongoing
trend softness in domestic
production and selling exports
out of inventories.
‘In addition to the
ongoing adjustment
in natural resources
and the spillover
effects across the
rest of the economy,
at least 4 other
factors combine to
make it difficult to
assess risks to our
forecast for modest
Q4 economic growth.
On balance they
point to downside
risks.’
Scotiabank
Authors:
Derek Holt
Vice President Economics
Scotiabank
[email protected]
www.gbm.scotiabank.com
Page 25
Shell launches Quest carbon capture and storage project
6 Nov
‘Together with
government and
joint-venture
partners, we are
sharing the knowhow to help make
CCS technologies
more accessible and
cost-effective for the
energy industry and
other key industrial
sectors of the
Shell celebrated the official
opening of the Quest carbon
capture and storage (CCS)
project in Alberta, Canada,
and the start of commercial
operations there. Quest is
designed to capture and
safely store more than one
million tonnes of carbon
dioxide (CO2) each year –
equal to the emissions from
about 250,000 cars. Quest
was made possible through
strong collaboration between
the public and private sectors
aimed at advancing CCS
globally.
economy.’
Shell
As part of its funding
arrangements, Shell is
publically sharing information
on Quest's design and
processes to further global
adoption of CCS. Quest draws
on techniques used by the
energy industry for decades
and integrates the
components of CCS for the
large-scale capture, transport
and storage of CO2. CCS is
one of the only technologies
that can significantly reduce
carbon emissions from
industrial sectors of the
economy.
Speaking at the official
opening, Shell’s CEO Ben van
Beurden said: ‘Quest
represents a significant
milestone in the successful
design, construction and use
of carbon capture and
storage (CCS) technology on
a commercial scale. Quest is
a blueprint for future CCS
projects globally. Together
with government and jointventure partners, we are
sharing the know-how to
help make CCS technologies
more accessible and costeffective for the energy
industry and other key
industrial sectors of the
economy.’
Quest will capture one-third
of the emissions from Shell’s
Scotford Upgrader, which
turns oil sands bitumen into
synthetic crude that can be
refined into fuel and other
products. The CO2 is then
transported through a 65kilometre pipeline and
injected more than two kms
underground below multiple
layers of impermeable rock
formations. Quest is now
operating at commercial
scale after successful testing
earlier this year, during
which it captured and stored
more than 200,000 tonnes of
CO2.
Quest was built on behalf of
the Athabasca Oil Sands
Project joint-venture owners
Shell Canada Energy (60%),
Chevron Canada Limited
(20%) and Marathon Oil
Canada Corporation (20%),
and was made possible
through strong support from
the governments of Alberta
and Canada who provided
C$865m in funding.
Collaboration is continuing
through Quest between Shell
and various parties in an effort
to bring down costs of future
CCS projects globally. This
includes cooperation with the
US Department of Energy, and
the British government on
research at the Quest site.
‘The secondment from the
UK’s Energy Technologies
Institute to the Quest CCS
project is an example of British
and Canadian cooperation in
cutting-edge low-carbon
technologies,’ said Howard
Drake, British High
Commissioner to Canada.
‘This research-focused
partnership will help to develop
CCS expertise on both sides of
the Atlantic in an effort to
advance the innovative
solutions demonstrated at
Quest.’
Support from the local
community was essential to
building Quest. Shell initiated
public consultation in 2008,
two years before submitting a
regulatory application.
Contact:
Sarah Bradley
Deputy Head UK Government
Relations
Shell International Ltd
Shell Centre
1 York Road
London SE1 7NA
T: +44 (0)20 7934 2260
[email protected]
www.shell.com
NEW MEMBER PROFILE
Crowdcube
Crowdcube is the world’s leading investment crowdfunding platform. We enable anyone to invest alongside professional
investors in start-up, early stage and growth businesses through equity, debt and investment fund options.
Join the 200,000-strong crowd looking for more interesting investments - it’s free, quick and has no obligations.
Contact:
Michael Wilkinson
Head of Equity Investment
62 Dean St, London W1D 4QF
T: +44 (0)1392 891859
Page 26
[email protected]
www.crowdcube.com
Winter 2016
Energy Forum: Lord Gus O’Donnell & the UK’s Energy Policy
Over 75 members attended an Energy
Forum breakfast in November hosted
and sponsored by TD Securities. Guest
speaker was Lord Gus O’Donnell,
Advisor to the CEO at TD Bank. Lord
O’Donnell spoke on the UK’s Energy
Policy. As Cabinet Secretary, Lord
O’Donnell was the top civil servant in
the UK from 2005 to 2011, serving
under Prime Ministers Tony Blair,
Winter 2016
Gordon Brown and David Cameron. He
stood down from this position at the end of
2011, and was appointed to the House of
Lords in January 2012.
Lord O’Donnell shared his thoughts and
insights on: the structure of the UK’s retail
energy markets post the CMA review;
renewables and the environment; the UK
North Sea -has the government done
enough on regulation and taxation; the
UK onshore gas and fracking (is there
real support for onshore drilling); the UK’s
aging energy infrastructure and
expectations for the Paris Climate
Change Summit.
Energy Forum Chair Mark Ledwell acted
as MC and the Introduction was delivered
by Chamber VP Brian Smith.
Page 27
The Paris Climate Agreement -diplomacy returns
The ‘COP21’ climate
conference in Paris was, in
short, a success. Two weeks of
fraught negotiations delivered
the Paris Agreement – a
genuinely ambitious and
binding agreement to limit the
rise in global temperatures to
well below two degrees
Celsius.
‘Although light on
specifics, the Paris
text is clear that a
huge expansion in
renewable energy is
vital. As is support
for market
mechanisms to
price, tax and trade
carbon – very
relevant to
discussions in a
number of Canadian
provinces today.’
Madano
agreed will require an
unprecedented scale and pace of
change worldwide. Although light
on specifics, the Paris text is clear
that a huge expansion in
renewable energy is vital. As is
support for market mechanisms to
price, tax and trade carbon – very
relevant to discussions in a
number of Canadian provinces
today.
A statement of intent
It is hard to overstate the scale
of this global ambition. 195
nations are now bound to
massively reduce global
emissions over the coming
decades. Countries have even
agreed to aim for net zero
carbon emissions in the second
half of the century.
This is substantially more than
many diplomats expected and
is a testament to the ever
growing level of political
consensus around the risks of
climate change, as well as the
mediation skills of the French
hosts.
Symptomatic of the change in
tone, the new Canadian
government won plaudits for reengaging with the international
climate discussions – sending
more delegates than any other
country – and playing an
important role in reaching a
consensual agreement.
As a statement of intent, the
agreement could not be
clearer, giving a potent signal
to policy makers, business
leaders and the public to
bolster efforts to shift to low
carbon economic growth.
Achieving what has been
The challenge is to move beyond
the euphoria and translate words
in the negotiating room into
actions in the real world.
commitment be sustained under
prolonged attack? The
agreement also fudges the
crucial issue of climate finance.
Paying for climate policies
remains beyond the reach of the
poorest countries. Rich nations,
including Canada, have pledged
to reach a minimum target of
US$100bn per year to 2025 to
fund initiatives in the developing
world. But the funding pledged
so far is well below this target. It
will need to rise much higher to
achieve the ambitions set out in
Paris. Again the issue is how to
enforce action.
The challenge of reality
A Demonstration of leadership
Despite the positive language,
countries’ individual climate
pledges, submitted before the
conference, remain non-binding in
the Paris Agreement. The UN’s
own analysis found that, even if
fully implemented, these pledges
alone would not be enough to
keep within the two degree target.
Recognising this, the deal ties
countries to a five-yearly cycle to
measure and improve their
ambitions for emissions reduction.
The question is, how will
underperforming nations be
treated? Without a clear
mechanism for managing noncompliance, enforcement will rest
on the power of reputational
impact alone.
From a Canadian perspective,
Prime Minister Trudeau plans to
meet with the provinces and
agree new national targets within
90 days. But the government is
already being criticised over the
impact this could have on the oil
and gas sector and consumer
bills. Could such climate
These challenges are not
insurmountable. What is most
important today, is that nations
large and small have agreed that
global decarbonisation has to be
the end goal, in as short a
timescale as possible.
From the UK to the US, China to
Canada, national leaders have
stopped dragging behind the
court of public opinion – they are
beginning to lead it.
Contacts:
Nick Turton
Head of Energy Practice
Madano
T: +44 (0)20 7593 4000
[email protected]
Matthew Moth
Founding Partner
Madano
7th Floor, 160 Blackfriars Rd
London SE1 8EZ
T: +44 (0)20 7593 4023
[email protected]
www.madano.com
Business Update
Major initiatives have been launched
in Canada, the US and the UK
focused on enhancing cybersecurity.
The Canadian Council of Chief
Executives and a group of leading
Canadian companies have
announced plans for an independent,
not-for-profit organization,
the Canadian Cyber Threat
Exchange (CCTX), to help Canadian
businesses and consumers guard
against cyber attacks. Launching in
2016, the CCTX will work to share
Page 28
information about cyber threats and
vulnerabilities among businesses,
government and research institutions.
The Globe & Mail reported Nov 19
that ‘the proportion of women on
Canadian corporate boards took its
largest leap ever in 2015 to almost
20%’ but Canada continues to lag
behind globally. The UK has no allmale boards on the FTSE 100 and
just 15 all-male boards on the FTSE
250, whereas Canada has 109 allmale boards among the FP500.
British trade to countries that have
deals with the EU has increased
dramatically, generating business
worth billions of pounds, according to
new research released by ‘Britain
Stronger in Europe campaign’ which
says EU free trade agreements have
led to a doubling of exports in some
cases.
Winter 2016
Situated in the Province of Newfoundland and Labrador, Canada, AbbyShot is a small business making big
waves! Whether you’re exploring the worlds of Doctor Who, stepping back in time with Outlander, or entering
Once Upon a Time’s fairy tale, we have you covered...literally!
Since 2002, AbbyShot has been creating high quality, licensed replica apparel & accessories from TV, movies &
video games. Our products have a quality that is timeless and trendy, appealing not only to fans of the particular
brand, but to those who are fashion conscious and appreciate finer styling.
AbbyShot is well respected on the international stage, with customers spanning 53 countries and partners BBC
Worldwide, ABC/Disney, Sony, Twentieth Century Fox, Capcom, Jay and Silent Bob’s Secret Stash and NBC
Universal.
TV Series, DOCTOR WHO
In November, AbbyShot was honored to attend the Doctor Who Festival in London.
We were thrilled to offer a number of new products to our excited customers! The relationships we have built at
events such as this will be everlasting.
Earlier this year, we launched three new product lines. Our Product Designer often visits the sets of these popular
TV shows, to examine and document details of design to ensure screen accuracy.
AbbyShot is delighted to be an Overseas member of the Canada UK Chamber of Commerce.
We look forward to the opportunity to meeting you either virtually or during our travels to the UK.
We may be across the pond but we are always open to a great conversation!
TV Series, OUTLANDER
NEW MEMBER PROFILE
Abbyshot Clothiers
AbbyShot is a privately held Canadian corporation founded in July 2002. Our garment designs are styled after clothing worn in
movies, anime series, TV shows and computer games. We currently export to over 53 countries around the world and have a
global reputation for making the best screen-accurate clothing - a reputation earned by near-obsessive attention to the details of
garment accuracy, quality and durability. We pride ourselves on having excellent customer service and have received as much
praise for that as our products. AbbyShot is located in Mount Pearl, Newfoundland.
Contact:
Bonnie Edgecombe Cook
CEO
75 Barbour Drive, Mount Pearl
Newfoundland A1N 2X3 Canada
T: +1 (709) 747 2323
Winter 2016
[email protected]
www.abbyshot.com
Page 29
Alberta’s ambitious new climate change plans announced
‘We are going to put
capital to work,
investing in new
technologies, better
efficiency, and jobcreating
investments in
green infrastructure.
We are going to
write a made-inAlberta policy that
works for our
province…’
Alberta Premier
Rachel Notley
On November 22 the Alberta
Government announced an
ambitious new climate change
plan. Representatives from
both prominent environmental
groups, such as the Pembina
Institute, as well as Suncor
Energy, Canadian Natural
Resources, Cenovus Energy
and Royal Dutch Shell, joined
Alberta Premier Rachel Notley
as she made the
announcement.
‘We are going to do our part to
address one of the world’s
greatest problems. We are
going to put capital to work,
investing in new technologies,
better efficiency, and jobcreating investments in green
infrastructure. We are going to
write a made-in-Alberta policy
that works for our province
and our industries, and keeps
our capital here in Alberta,’
said Premier Notley.
Alberta’s new climate change
plan replaces its current $15/
tonne carbon price on large
industrial emitters with an
economy wide carbon tax that
will phase up to $30/tonne by
January 2018. Emissions from
the oil sands will be capped at
100 megatonnes. The
Government has committed to
reinvesting all proceeds from the
carbon tax back into Alberta
towards research on green
energy, constructing new public
transit infrastructure, improving
energy efficiency, and helping
individuals, First Nations and
small businesses transition to a
low carbon economy. Premier
Notley also announced that
Alberta will phase out all coal
power generation by 2030,
replacing two-thirds of that
capacity with renewable energy.
Renewable energy sources will
comprise up to 30% of Alberta’s
electricity production by 2030.
Murray Edwards, Chair,
Canadian Natural Resources,
said of the plan, ‘The
announcement is a significant
step forward for Alberta. We
appreciate the strong leadership
demonstrated by Premier Notley
and her government. The
framework announced will allow
ongoing innovation and
technology investment in the oil
and natural gas sector. In this
way, we will do our part to
address climate change while
protecting jobs and industry
competitiveness in Alberta.’
Premier Notley attended the
international climate change
negotiations in Paris, along with
the Premiers of Ontario,
Quebec, BC and
Saskatchewan, and Prime
Minister Justin Trudeau. In
Paris, Premier Notley
announced that Alberta will be
joining the Climate Group’s
States and Regions Alliance, a
network of sub-national
governments committed to
working together on climate
issues. She also signed an
MOU with Air Liquide to identify
and pursue mutual opportunities
in areas such as clean
technology, advanced water
technology solutions and health.
Contact:
Michael Padua
International Policy Manager
Alberta - UK Office
Canada House
Trafalgar Square
London SW1Y 5BJ
T: +44 (0)20 7004 6127
[email protected]
www.albertacanada.com/UK
Manitoba commits to increase Small Business tax-free income threshold
Starting in 2017, small
businesses in Manitoba will
be able to earn even more
income and still pay no
provincial corporate income
tax as the small business
threshold will increase to
$500,000, Finance Minister
Greg Dewar announced 1
December.
‘We are proud that our
government is still the only
one in Canada that has
eliminated the small business
tax. Small businesses are the
heart of our economy and we
want to do what we can to
help local entrepreneurs free
up more money to create
jobs and invest in our
province,’ said Minister
Dewar. ’When we entered
office, Manitoba’s small
businesses faced the highest
taxes in the country. Now,
they have the most
competitive corporate income
tax rate in Canada.’
Page 30
The minister noted that $3.8bn
has been put back in the
hands of Manitoba’s
entrepreneurs since 1999
because of tax relief
measures introduced by the
provincial government.
‘Eliminating corporate income
taxes on Manitoba’s smallest
businesses has made the
system one of the most
competitive in Canada for
entrepreneurs,’ said Elliot
Sims, Manitoba Director,
Provincial Affairs, Canadian
Federation of Independent
Business.
‘Entrepreneurs are pleased to
see the provincial government
commit to increasing the small
business threshold to
$500,000, the Canadian
provincial standard.’
small business tax rate, which
benefits about 85% of taxable
corporations in the province, the
minister noted. Currently,
14,000 corporations pay no
Manitoba corporate income tax
as a result of the zero per cent
rate. That number is expected
to increase to 16,000 in 2016,
Minister Dewar said.
‘When small businesses like
mine aren’t required to pay
small business income tax, this
gives us extra capital to hire
new staff, invest in equipment or
purchase more inventory,’ said
Constance Popp, owner,
Chocolatier Constance Popp.
Read more at:
http://news.gov.mb.ca/news/
index.html?
archive=&item=36916
In 2010, Manitoba became the
first and only province to
permanently eliminate the
Winter 2016
Moving Québec forward with electricity
The Québec government has
recently made a number of
announcements that
demonstrate the province’s
status as a world leader in
the development and delivery
of electrified transport.
This autumn, Québec
Premier Philippe Couillard
unveiled the new 2015-2020
Transportation Electrification
Action Plan. The $420m plan
aims to increase the number
of electric vehicles in Québec
and reduce greenhouse gas
emissions and oil
dependency in order to
contribute to the fight against
climate change and better
integrate green electricity into
Québec’s economy.
More specifically, Québec
aims to have 100,000 electric
and hybrid vehicles on its
roads by 2020. This signals a
shift that will reduce transport
-related greenhouse gas
emissions by 150,000 tonnes
and save 66m litres of fuel
annually.
‘With this new structured,
ambitious and mobilising
action plan, we are giving
ourselves the tools needed to
gain the maximum benefit
from Québec’s technological
and economical potential,
whilst contributing to the fight
against climate change’,
stated Premier Couillard at the
plan’s unveiling.
More recently, Québec also
made a series of significant
announcements showing its
dedication to renewable
energy and green
transportation at COP21 in
Paris. Specifically, the
province announced its cofounding of the International
ZEV alliance.
Working with 12 European
and North American
governments including the
UK, Germany, the
Netherlands, Norway,
California, Massachusetts and
New York, Québec will strive
to make all new passenger
vehicles in the province zero
emission vehicles (ZEVs) by
no later than 2050. Achieving
this will accelerate the global
transition to ZEVs and could
reduce transportation sector
climate impacts by more than
1bn tons of carbon dioxide
emissions per year by 2050,
lowering global vehicle
emissions by around 40%.
From 19-22 June 2016,
Montréal will be hosting the
29th annual World Electric
Vehicle Symposium and
Exhibition (EVS29). Constituting
the largest international
conference on electric vehicles,
EVS has been assembling
global leaders from industry,
government and academia to
address technical, policy and
market topics in the
electrification of vehicle fleets
since 1969. The Economic
Affairs team at the Québec
Government Office in London
will be happy to assist anyone
who wishes to be involved in
the event.
‘Québec aims to
have 100,000
electric and hybrid
vehicles on its roads
by 2020. This
signals a shift that
will reduce
transport-related
greenhouse gas
emissions by
For more info go to:
www.transportselectriques.gouv.qc.ca
Contact:
Québec Government Office in
London
59 Pall Mall
London SW1Y 5JH
[email protected]
www.quebec.org.uk
150,000 tonnes and
save 66m litres of
fuel annually.’
Québec
Government
President & CEO of Advantage BC at the Chamber
Colin Hansen, President and
CEO of Advantage BC and a
former deputy premier and
Minister of Finance of British
Columbia (B.C.), was the
keynote speaker at a Canada
-UK Chamber of Commerce
event on November 9. Colin
opened his remarks by
saying that it was a year to
the day since Canada was
designated a RMB
Settlement Hub, the first in
North America, and that
Vancouver is rapidly climbing
the ranks of the world’s
financial centres, now
standing in the top 20. In a
globalized economy,
Canada’s geography means
business and financial
activity can seamlessly span
multiple time zones.
Vancouver in particular is
well connected to Asia, and
B.C. offers a stable business
environment and many other
Winter 2016
advantages as a place to do
business.
Colin outlined the incentives
offered by Advantage BC. For
example, by registering for its
International Business Activity
Program, companies
conducting qualifying business
activities in B.C. can receive a
refund of up to 100% of the
B.C. corporate income tax
(11%) paid, meaning that they
effectively only pay the federal
tax rate of 15% on income
from their qualifying
international financial
activities. The program is well
suited for businesses that
specialize in international
activities such as: factoring,
banking and financial
services; wealth and asset
management; and film and
television distribution; as well
as qualifying international
patent activities where up to
75% of BC corporate income
tax paid can be refunded. In
addition, companies in the
program can register qualifying
employees as international
business specialists or
executive specialists, which
enables them to receive a
refund of B.C. provincial
personal income tax on
qualifying employment income
at a rate of 100% for the first
two years, followed by 75% for
year three, 50% for year four
and 25% for year five.
Contact:
Susan Haird CB
Managing Director, Europe
European Trade and Investment
Office for British Columbia
111 Buckingham Palace Rd
London SW1W 0SR
T: +44 (0)20 7340 8582
[email protected]
www.britishcolumbia.ca
Page 31
Ontario News: The Next Big Idea Contest
‘The Next Big Idea
Contest’... is a
global business plan
contest to discover
innovative IT
companies and
provide them with
the opportunity to
scale-up
internationally. This
contest is focused
on Birmingham and
Ontario, giving
digital media/IT
companies the
chance to scale to
reach a global
audience.’
‘The Next Big Idea Contest’
or NBI is a global business
plan contest to discover
innovative IT companies and
provide them with the
opportunity to scale-up
internationally. This contest is
focused on Birmingham and
Ontario, giving digital
media/IT companies the
chance to scale to reach a
global audience.
There will be two winning
companies from Ontario and
two winning companies from
Birmingham. Birminghambased winners will be ready
to scale up in North America,
with Ontario as their platform
for growth, and Ontariobased winners will be ready
to scale up in the UK, with
Birmingham as their platform
for growth.
The winners will each receive:
A trip to Toronto or
Birmingham, including flights
and accommodation; a 2-week
bespoke program focusing on
and introducing them to the IT
and relevant sectors in Ontario
and the UK to include
independent business
development time, soft-landing
space and support activities at
incubators; advice and
mentoring from sector
specialists; and meetings and
networking with investors,
incubators and partner
companies.
The sponsors of this contest are
Ontario International, London
Trade and Investment Office,
Ryerson University, Innovation
Birmingham, Natwest (Midlands
and East of England) and
Wragge & Co.
Contact:
Aaron Rosland
Counsellor
(Commercial – Ontario)
High Commission of Canada
Canada House
Trafalgar Square
London SW1Y 5BJ
T: +44 (0)20 7004 6212
[email protected]
www.ontarioexportsinc.com
Ontario News: Minister Chan in the UK
indefatigable energy by
engaging with and learning
about each individual company.
He also dedicated his time to
meet with buyers at the show
and in London to advocate on
behalf of Ontario companies,
products and services.
Michael Chan, Ontario
Minister of Citizenship,
Immigration and International
Trade visited the UK in in the
Autumn. His major mandate
Page 32
was to support Ontario
companies attending a trade
show in London and
demonstrated his
Eager to reinforce Ontario’s
commitment to developing
commercial relations with the
entire UK, Minister Chan
travelled to Birmingham to host
a Roundtable with potential
investors, meet with current
investors and launch the Next
Big Idea contest.
Winter 2016
Winter 2016
Page 33
Hiring Canadian students – why it’s good for business
Canadian university students
are making an impact with
employers around the world last year, 289 students from
the University of Victoria
(UVic) in Victoria, Canada,
completed internships with
employers outside Canada,
including 17 in the UK.
‘Canadian university
students are making
an impact with
employers around
the world - last year,
289 students from
the University of
Victoria in Victoria,
Canada, completed
internships with
Employers like DragonPass
UK in Manchester are already
benefiting from hiring UVic
students. The travel lounge
provider recently hired UVic
commerce student Alfira
Aisikeer as a business support
intern. She works closely with
the research branch to
produce surveys that help the
company anticipate clients’
needs, and has become an
integral part of the 13-person
team.
employers outside
Canada, including
17 in the UK.’
University of
‘I’ve used my skills in office
administration, sales,
marketing and customer
service,’ says Aisikeer. ‘I’ve
worked hard to learn as much
as I can about the business,
clients and customers and to
provide support wherever I
can.’ She’s following in big
footprints - DragonPass
original Chinese office was
launched by UVic MBA grad
Jane Zhu.
Aisikeer is one of many UVic
students bringing an
intercultural approach to UK
workplaces. Her studies in
Canada and her experience
as a UVic co-operative
education (co-op) student
help her make a difference.
What is co-operative
education?
Co-operative education, or
co-op, is similar to the UK
sandwich program but the
work placement is shorter.
Co-op students gain
valuable hands-on
experience, while employers
benefit from students’
energy, ideas and hard
work.
The UVic Co-op Program is
one of the largest in Canada.
One in three UVic students
take part in co-op, and
students work for employers in
sectors as diverse as arts and
culture, business, engineering,
science, healthcare, law and
more.
Contact us to learn how to hire
a UVic co-op student. We can
help with every step of the
hiring process
([email protected]).
Contact:
Karima Ramji
Manager of International
Programs
Co-operative Education
Program and Career Services
University of Victoria
T: +1 250 721 6076
[email protected]
www.uvic.ca/coopandcareer
Victoria
Mentors Make the Difference for Canadian Students Working Abroad
Sometimes it’s the little things
you miss the most: Timbits,
Kraft Dinner, maple syrup. As
Canadians living abroad,
there’s comfort in these
hallmarks of home. It’s a bit
like running into a fellow
Canuck in the street suddenly, home doesn’t feel
so far away.
Last January, a group of
bright, globally minded
students from the University
of Toronto arrived in London
for a semester, as part of our
Management and
International Business
program. Their challenge was
to find co-op placements with
UK firms that would give them
valuable international
experience in global business.
What made all the difference
for our students was the
group of people waiting for
them on the ground dedicated mentors who
helped the students to build
their networks, identify the
best job opportunities, and
navigate the nuances of
Page 34
British business culture.
If you’ve ever had a helping
hand from someone more
experienced than you, you
understand the power of
mentorship. It can launch a
career, and it can change a
life. And it usually doesn’t
take much, just a friendly ear
or a nudge in the right
direction.
This January, we’ll be
sending another group of
bright, globally minded U of
T students to work and study
in the UK. We’d like to
connect each of them with a
mentor who can show them
the lay of the land. We’re not
asking for a huge time
commitment, just a sincere
desire to answer some
questions and help point the
way to a fellow Canadian as
they adjust to life in the UK.
becoming a mentor to a U of T
global business student as
they get established in the UK,
I would be delighted to hear
from you.
I might even send you some
maple syrup.
Contact:
Christine Arsenault
Managing Director
Department of Management
University of Toronto
Scarborough
IC 184, 1265 Military Trail
Toronto
ON M1C 1A4
Canada
T: +1 416 287 7112
[email protected]
www.utsc.utoronto.ca
Business is borderless, and
so is Canada’s reputation for
global citizenship.
If you’re interested in
Winter 2016
Winter 2016
Page 35
MoD selects CGI for integrated electronic health record information service
‘We have a strong,
experienced team
who will deliver an
effective iEHR
service for Defence
Medical Services
and we look forward
to working closely
with them to deliver
this important
program.’
CGI
CGI has been selected to
provide an integrated
electronic health record
(iEHR) service for the UK
Defence Medical Services
(DMS), enabling DMS to
promote, protect and restore
the health of service
personnel to ensure that they
are medically fit, 24/7,
throughout the world. The
contract, called
INTERMOLAR, is for 3 years,
with options to extend.
The INTERMOLAR contract
was won in competition and
enhances the current
Defence Medical Information
Capability Programme
(DMICP) service provided by
CGI, ensuring continued
delivery while the UK Ministry
of Defence (MOD)
determines its long-term
medical IT requirements.
CGI will build on the current
DMICP service and provide
an iEHR system for
approximately 400 sites
worldwide, with over 2,500
concurrent users logged in at
any time.
The system will hold some
600,000 patient records, of
which approximately 250,000
are ‘live’ and support up to
20,000 consultations per day.
The system is based on the
EMIS Health application,
EMIS PCS, a proven,
industry-leading solution.
Clinicians with appropriate
access rights will be able to
access and view patient
records 24 hours a day
wherever a patient seeks
treatment. This unique
capability ensures that the
DMS can continue to
determine and deliver the
most effective treatment for
UK Armed Forces personnel
and dependents.
CGI will deliver secure
hosting from its ISO/IES
27001 certified facilities in the
UK, and the service will be
managed through CGI’s
award-winning five-star
service desk in Wales.
Air Marshal Paul Evans,
Surgeon General, Ministry of
Defence, commented: ‘We
are delighted to continue our
close relationship with CGI to
ensure INTERMOLAR
delivers the reliable service
that we currently receive from
DMICP. We are confident
INTERMOLAR will play a key
part in our continuous drive
for efficient and patientfocused processes and
services.’
‘We are proud of the
excellent reputation that
DMICP has within the MOD,
and we look forward to a
swift, low risk and successful
transition to INTERMOLAR,’
said Steve Smart, Senior
Vice-President, Space,
Defence, National and Cyber
Security, CGI. ‘We have a
strong, experienced team
who will deliver an effective
iEHR service for Defence
Medical Services and we
look forward to working
closely with them to deliver
this important program.’
Read more at:
www.cgi.com/en/UK-Ministry-ofDefence-CGI-integrated-electronichealth-record-information-service
Restructured financing & team development lead to profitable growth
Contact:
Terry Irwin
Managing Director
TCii Strategic &
Management
Consultants
33 Cavendish Square
London W1G 0PW
T: +44 (0)20 7099 2621
[email protected]
www.tcii.co.uk
Page 36
Our client was an interior
construction company
working in the leisure and
hospitality sector for leadingname organisations and pub
chains. Its customers were
fast-moving businesses that
needed to keep up-to-date
with the latest interior
fashions. This meant that our
client had to work to very
demanding refurbishment
schedules.
Our first essential task was to
gain an in-depth
understanding of the
business, so that we could
help our client secure the
right type of funding for its
growth phase and help it to
manage the growth from both
a cash management and
team competence point of
view.
mentoring support in the key
areas of sales, operations
and finance. We introduced a
system of setting and
monitoring key performance
indicators for all staff. The
company’s cash flow
improved further when we
helped it to recover a debt
that had been outstanding for
five years.
Improved financing and
cash flow
All targets achieved
The priorities
The company was enjoying a
fast rate of growth. As a
result, it needed a restructure
of finance plus further funds
to underpin its expansion
plans. And to cope with its
customers’ tight schedules it
needed to achieve greater
focus, improve its systems
and controls, and develop its
team.
We produced a business plan
with financials detailed over a
three-year period. This
gained the support of the
bank. We then identified a
high-net-worth individual who
took an equity stake and
made the company a shortterm loan.
We gave our client’s
management team ongoing
Our client realised sustained
growth over the next three
years. The management
team are now leading the
business, rather than simply
responding to operating
pressures. The short-term
loans have been paid off and
the investor enjoys regular
dividends. We maintain
regular monthly contact with
the company and are helping
it to develop new services.
Winter 2016
Can I use images found on Google Images?
The starting point is that
generally images / photos are
protected by copyright.
With regard to images
you've created, there is no
issue as you would own the
copyright.
With regard to images
you've purchased from
image libraries, then again
there is no issue as you will
have purchased a licence to
use the image. However, you
will need to take care to
check the terms of the licence
as your use of the image may
be restricted and you will
need to ensure that you use
the image only in accordance
with the licence, to avoid
having to pay additional fees.
With regard to images you
source via Google Images –
or elsewhere on the internet –
you will generally need
permission to use the image.
The fact that an image is
posted on the internet does
not mean that the owner has
‘waived’ or lost the copyright
in the image or given
permission for everyone to
use it.
If you use an image without
permission, while the owner
may never find out, there is a
risk that if the owner does
discover it they could claim
compensation (based on a
reasonable licence fee plus
costs etc.) from you. Image
libraries and online publishers
use sophisticated technology
to track the use of their
images / content and then
aggressively claim
compensation for unlawful
use.
If you post an image on to a
social media site without
permission of the image
owner, then this will also
breach the T&Cs of the social
media site as usually the
T&Cs require that you do not
post any infringing material.
They have the right and
obligation to ‘take down’
content that infringes third
party rights.
Some websites allow their
images to be used under
a ‘creative commons’ licence.
However, often this is only for
non-commercial use, so it’s
important to check the licence
terms if using Creative
Commons-licensed material.
Sharing a simple web link to
an image is usually okay
because in that case you have
not made your own copy of the
image, you have simply linked
to the image on another site.
However, this can be an issue
if the result is to circumvent a
paywall or other subscription
only services. You may also
infringe copyright if you use
image tags to insert images
hosted elsewhere into your
webpage (even without
copying and hosting the
images yourself). Again, this is
more likely if the original
images are posted behind a
pay wall or in some other
restricted access environment.
So using links is potentially
risky as well.
You can use copyright works
without permission from the
copyright owner for certain
specific acts, known as ‘fair
dealing’. This will include use for
‘research for a non-commercial
purpose and private study’ or for
‘criticism and review’ (e.g. if you
write a blog post about how
effective or creative a particular
image is, then that would be
criticism or review of the image
itself and would be covered by
fair dealing). In such cases you
have to give a sufficient
acknowledgement to the owner.
Using pics of celebs can give
rise to other issues as they may
be able to claim that their
privacy has been infringed or
that your use of their image
wrongly implies that they have
endorsed your product or
service.
‘If you use an image
without permission,
while the owner may
never find out, there
is a risk that if the
owner does discover
it they could claim
compensation
(based on a
reasonable licence
fee plus costs etc.)
from you.’
Author:
Peter Miller
Partner
Fox Williams LLP
T: +44 (0)20 7614 2504
[email protected]
Fox Williams
Contact:
Richie Clark
Partner & Head of Corporate
Fox Williams LLP
Ten Finsbury Square
London
EC2A 1AF
T: +44 (0)20 7614 2507
[email protected]
www.foxwilliams.com
NEW MEMBER PROFILE
Charles River Associates
Charles River Associates (CRA) is a leading global consulting firm that offers economic, financial, and strategic expertise to
major law firms, corporations, accounting firms, and governments around the world. With proven skills in complex cases and
exceptional strength in analytics, CRA consultants have provided astute guidance to clients in thousands of successful
engagements. We offer litigation and regulatory support, business strategy and planning, market and demand forecasting, policy
analysis, and risk management consulting.
Contact:
Andrew Butcher
Vice-President -Life Sciences
Charles River Associates
99 Bishopsgate, London EC2M 3XD
T: +44 (0)20 7664 3716
Winter 2016
[email protected]
www.crai.com
Page 37
NEW MEMBER PROFILE
Nasmyth Group Ltd
Nasmyth Group is a cohesive group of engineering businesses that consistently provides high quality services and
products. The Group offers world class design, manufacturing assembly and product support services across the fields of
precision mechanical and electro-mechanical engineering.
Contact:
Chris Henson
VP Business Development
Nasmyth House, Coventry Rd
Exhall CV7 9FT
T: +44 (0)2476 361 156
[email protected]
www.nasmythgroup.com
NEW MEMBER PROFILE
Operis
Operis is an advisor to infrastructure and energy transactions globally, particularly Canadian P3 deals. We provide privatesector financial advice and analytical services, relating to the structuring of the finance and the forecasts developed to support
investment decisions and transaction bids.
Contact:
Paul Myers
Managing Director
110 Cannon Street
London EC4N 6EU
T: +44 (0)207 562 0454
[email protected]
www.operis.com
NEW MEMBER PROFILE
Saskatoon Regional Economic Development Authority
Started in 1992, the Saskatoon Regional Economic Development Authority (SREDA) Inc was one of the first independent
economic development agencies to be started in Canada. Today it is one of the most successful. SREDA works with the City of
Saskatoon, the Province of Saskatchewan, the surrounding communities and more than 200 private sector investors to build and
grow the region’s economy.
Contact:
Alex Fallon
President & CEO
Suite 103, 202 Fourth Avenue N
Saskatoon, SK, Canada
T: +1 306 664 0723
[email protected]
www.sreda.com
NEW MEMBER PROFILE
Warret & Jullion
Warret & Jullion are interior architects and designers. We use spaces to tell magical stories of success, adventure, travel,
discovery and most of all, a story for living life to the fullest. It is our ambition to help clients expand their own sense of style that
reflects their passions, confidence and personality.
Contact:
Fabien Gueret
Architectural Designer
15 Stratton Street, London W1J 8LQ
T: 44 (0)20 3417 3672
Page 38
[email protected]
www.warretjullion.co.uk
Winter 2016
NEW MEMBER PROFILE
Bridgepond
Bridegpond is a ‘Go to Market’ investment and advisory partner for technology companies that want to scale up in global
markets. Go to Market Investment: we set up the regional operation. Acting as your subsidiary we drive market expansion of your
brand/product with reduced risk and no equity dilution. Advisory: we provide Sales, Marketing and Leadership mentoring and
have the resources to help scale your business. We run workshops on going global and how to build effective partnerships for
growth.
Contact:
Dagmar Moreside
Operations Manager
3 Terrano House, 40 Melliss Avenue, London TW9 4BZ
T: +44 (0)7884 021882
[email protected]
www.bridgepond.ca
NEW MEMBER PROFILE
Glacier Media Group
Glacier Media Group is an information and communications company providing primary and essential information to its
customers through a complementary solutions strategy that involves a diverse range of integrated products and services. It is
focused on two key segments: 1) business-to-business and 2) community media.
Contact:
Paul Harris
Director, European B2B Markets
Unit 1.5, 11-29 Fashion Street, London E1 6PX
T: +44 (0)7852 940138
[email protected]
www.glaciermedia.ca
NEW MEMBER PROFILE
Global Payments Canada GP
Global Payments is a leading worldwide provider of payment technology services that delivers innovative solutions driven by
customer needs globally. Our technologies, partnerships and employee expertise enable us to provide a broad range of products
and services that help businesses innovate and grow.
Contact:
Amy Blundell
Senior Marketing Manager
3381 Steeles Avenue East, Suite 200
Toronto, Ontario M2H 3S7
Canada
T: +1 (416) 847 4420
[email protected]
www.globalpaymentsinc.ca
NEW MEMBER PROFILE
Money&Co
Money&Co matches businesses seeking loans with people looking to raise capital and support British business. As a Lender
your capital is at risk and you may lose money loaned to a specific borrower. Since launching in April 2014 Money&Co has a bad
debt rate of 0%. Money&Co will seek to recover any future bad debts but will not provide compensation should this be
unsuccessful.
Contact:
Rachel Green
Business Development Director
42 Bruton Place, London W1J 6PA
T: +44 (0)203 143 4000
Winter 2016
[email protected]
www.moneyandco.com
Page 39
Chamber Events Jan - June 2016*
Jan 26
Networking evening reception to meet new members at Canada House, Trafalgar Square, London
Feb 16
Evening tax & currency seminar with Trowbridge and Halo Financial at Québec House, London
March 15
One day conference with the Québec Government on electro-mobility tbc
April 15
Conference on the Energy Sector with the Industry & Parliament Trust at the House of Commons, London
May 20
AGM & lunch at the House of Lords, London
May 27
Annual Golf Day at the Royal Mid-Surrey Golf course, Richmond, Surrey
June 10
7th Annual Chief Economists panel debate and lunch at the Grange St Paul’s Hotel, London
*The Chamber hosts and co-hosts 30-40 events per year.
Other events will be added to this programme.
For full details on the 2016 event programme visit: www.canada-uk.org
Newsletter sponsors
Page 40
Winter 2016