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The federal government has reached a multimillion-dollar settlement with Michael Spavor to compensate him for the nearly three years he was incarcerated under harsh conditions in a Chinese prison.
The mediated settlement came after Spavor threatened to sue Ottawa and fellow prisoner Michael Kovrig, alleging he was arrested by China because of information that he unwittingly shared with Kovrig. That information, he alleged, was later passed on to the Canadian government and its Five Eyes intelligence partners in the course of Kovrig’s duties as a diplomat with Global Affairs Canada’s Global Security Reporting Program.
A statement from Spavor’s lawyer confirms a settlement has been concluded but he offered no further details. A source said the settlement is worth about $6-million, not including legal fees and expenses.
Michael Spavor, director of Paektu Cultural Exchange, talks during a Skype interview in Yanji, China on March 2, 2017.The Associated Press
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CIBC shakes up leadership ahead of CEO succession
As chief executive officer Victor Dodig and the board prepare for eventual succession, the Canadian Imperial Bank of Commerce has launched a major leadership shakeup, aimed at developing key senior executives and bolstering the lender’s growth strategy.
The shuffle in the senior ranks of the bank references the three executives widely considered to be candidates for the role of CEO.
Dodig has been in the top seat for a decade, which is the typical tenure for a Canadian bank CEO, but the banker has no plans to retire any time soon, saying he’ll be around to help the next leadership team.
Ukrainian troops in Donetsk hold the line with little hope and less ammunition
The olive-green Ukrainian vehicle equipped with a Grad launcher sat on the road west of Avdiivka, a city recently captured by Russian forces, with only 17 rockets loaded in it. A fully loaded one can fire 40 rockets in quick succession. But these days, such munitions are usually fired one at a time – and only when Ukrainian commanders deem it absolutely necessary.
This is the situation many Ukrainian soldiers on the front lines find themselves in now. As Kyiv urges Western nations to send more military aid, Russian forces move further into Ukrainian territory and Ukraine’s troops have fewer and fewer weapons to hold them back.
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Also on our radar
Two adults, four children found dead in Ottawa home: Ottawa police are investigating the deaths of six people including two adults and four children found in a home in the city’s Barrhaven area. Police say one person has been arrested and there is no ongoing threat to public safety. Identities of the deceased have not been confirmed. An update by police with more details is expected later today.
Bank of Canada holds interest rate steady: The Bank of Canada held its benchmark interest rate steady for the fifth straight time yesterday, in a decision that offered few hints about the timing of future rate cuts. The central bank kept the policy interest rate at 5 per cent, a level reached last July after one of the most aggressive monetary policy tightening campaigns in Canadian history
New Brunswick to probe travel nurse contracts: New Brunswick’s Auditor-General will investigate travel nursing contracts in the province after The Globe and Mail revealed that one private agency had charged more than $300 an hour for nurses and billed a health network for meal allowances that appear never to have been distributed to the company’s workers.
Canada’s future funding for UNRWA still in limbo: Canada hasn’t made a final decision on whether to resume funding to UNRWA, the United Nations aid organization in the Gaza Strip, when its next scheduled payment is due in April. A senior government source said yesterday that Ottawa is discussing the matter with other countries that also froze funding in January.
- Hamas delegation leaves Cairo, says Gaza ceasefire talks ongoing
- Jewish organizations granted injunction against protesters in Montreal
Pussy Riot co-founder on Navalny’s sacrifice: Russian art protest collective Pussy Riot, currently performing in Western Canada, has altered its multimedia concert Riot Days to include a segment commemorating Russian opposition leader Alexey Navalny who died unexpectedly in prison last month. The band’s co-founder Maria (Masha) Alyokhina is also warning the West about the dangers of Vladimir Putin.
More small towns will be able to select immigrants: More small towns – as well as francophone communities – will be able to recommend which foreign workers can settle in their communities permanently under an extension to a pilot immigration program. The program is designed to help communities address local labour shortages.
Canadian-funded Haiti mission remains stalled: Haiti is still awaiting a long-promised multinational police force partly financed by Canada as the country struggles to confront growing gang violence that pushes it closer to civil war or even collapse. Ottawa announced last month that it will provide $80.5-million to help finance the Kenyan-led multinational mission.
Morning markets
North American markets markets appeared poised for a higher open on Thursday ahead of more U.S. economic data and commentary from Jerome Powell after the Federal Reserve chair stuck to the script overnight by saying the central bank still expects to cut rates later this year. Mr. Powell, in his prepared remarks to the House panel on Wednesday, said rate reductions will “likely be appropriate” later this year, “if the economy evolves broadly as expected” and once officials gain more confidence in inflation’s steady decline. The Canadian dollar was trading higher at 74.02 US cents.
What everyone’s talking about
Editorial: “Forcing pension funds to invest in Canadian equities is an idea that seems merely terrible at first glance but, when you really dig into the details, turns out to be truly abysmal.”
Nigel Rawson and John Adams: “The only truly universal feature of Canada’s health care system is that everyone gets to wait. Canada needs a new approach to investing in health security – our lives and future depend on it.”
Today’s editorial cartoon
Illustration by David Parkins
Living better
How breakfast cereal became a nostalgic snack
If you’re a Gen X-er, you probably have fond memories of watching Saturday morning cartoons while eating your favourite sugary cereal. Sales of cereal have made a comeback in the last couple of years as more of a nostalgic snack than a breakfast meal. If you want to tap into the past in a different way, check out this recipe for a delicious cereal milk panna cotta.
Moment in time: March 7, 161
The gilded bronze equestrian statue of Marcus Aurelius, dating to the Roman emperor's reign, appears in its new hall at the Capitoline museum in Rome, Dec. 22, 2005.CHRIS HELGREN/Reuters
Marcus Aurelius becomes emperor of Rome
“People try to get away from it all – to the country, to the beach, to the mountains. You always wish that you could too. Which is idiotic: You can get away from it any time you like. By going within.” That tip, from Meditations by Marcus Aurelius, helps explain why a second-century Roman emperor still has a hold on the modern imagination. Meditations – which scholars think was not likely meant for public view – has been admired for generations, embraced by readers interested in Stoic philosophy and hoping to become stronger, wiser versions of themselves. A fascination with the man has endured as well, showcased in a monumental statue in a Roman plaza and on the silver screen, where Alec Guinness played the emperor in 1964′s The Fall of the Roman Empire and Richard Harris took on the role in the 2000 blockbuster Gladiator. Marcus Aurelius died in 180, possibly of smallpox, after choosing his only surviving son, Commodus – one of the most vicious Roman emperors ever – as his successor. Wendy Stueck
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