N.B. announces 3-member panel who will review future of debt-laden power utility
The members are Michael Bernstein, who has worked in the Canadian power and utilities sector; Anne E. Bertrand, the province's former information and privacy commissioner; and Duncan Hawthorne, an expert on utilities.
In a news release, the province says the review first announced in April will include the utility's financial sustainability and its attractiveness to investors.
Premier Susan Holt has said the status quo is not acceptable at NB Power, which is struggling with a $5-billion debt and rates that have increased more than 20 per cent in two years.
Holt has refused to speculate on whether a sale of the utility would be part of the review.
Final recommendations from the review panel are expected by the end of March 2026.
This report by The Canadian Press was first published May 23, 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
4 hours ago
- Business Upturn
FLYW LEGAL ALERT: Lose Money on Your Flywire Corporation Investment? Contact BFA Law by September 23 Class Action Deadline (NASDAQ:FLYW)
NEW YORK, Aug. 03, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Flywire Corporation (NASDAQ: FLYW) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Flywire, you are encouraged to obtain additional information by visiting: Investors have until September 23, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Flywire securities. The case is pending in the U.S. District Court for the Eastern District of New York and is captioned Hickman v. Flywire Corp., et al. , No. 1:25-cv-04110. Why Was Flywire Sued for Securities Fraud? Flywire operates as a payments-enablement, and software company. Its largest client vertical is education, the volumes and revenue from which rely on international enrollments and student school preferences. In and around late 2023 and early 2024, the Canadian and Australian governments began to tighten student visa and permitting rules. Despite these headwinds, Flywire consistently touted the sustainability of its revenue growth and financial condition, while downplaying the negative impacts of permit- and visa-related headwinds on the Company's business. In truth, it is alleged that Flywire overstated the strength and sustainability of its revenue growth while understating the negative impacts that the permit- and visa-related restrictions had and were likely to have on Flywire's business. The Stock Declines as the Truth Is Revealed On February 25, 2025, Flywire announced that its business in the education sector had significantly deteriorated due to worsening permit- and visa-related headwinds, including 'double digit declines in student visa issuance in our big four geographic markets,' with 'continued visa policy restrictions' anticipated in 2025. On this news, the price of Flywire stock declined roughly 37%, from $17.64 per share on February 25, 2025, to $11.05 per share on February 26, 2025. Click here for more information: What Can You Do? If you invested in Flywire you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact:Ross Shikowitz [email protected] 212.789.3619
Yahoo
5 hours ago
- Yahoo
Mismatched financial expectations? How to cope in a relationship where one partner out-earns the other
For some, the road to marriage can look financially lopsided. Those in their 30s earning their fair share — say, more than $100,000 a year — may be used to covering 100% of their individual household expenses. However, it doesn't typically feel good when a fiancé refuses to contribute, claiming their money is only for 'fun,' not 'responsibilities.' This is particularly troubling given cost of living increases and how those are reflected in the cost of non-negotiable spending. According to Statistics Canada, the average household spent about $76,750 annually on expenses in 2023, including housing, transportation and food, the three largest categories. In a two-person household, those costs can quickly add up. And when only one person is footing the bill, the financial and emotional burden becomes even heavier. Don't Miss Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich — and 'anyone' can do it The Canadian economy is showing signs of softening amid Trump's tariffs — protect your wallet with these 5 essential money moves (most of which you can complete in just minutes) I'm almost 50 and don't have enough retirement savings. What should I do? Don't panic. Here are 6 solid ways you can catch up The red flags of an unequal dynamic While differences in income are normal, refusing to contribute entirely can trigger long-term problems. When one partner sacrifices and handles 100% of the financial responsibilities, their personal finances may suffer down the road, while the other partner gains. This creates several challenges: Budget strain: Even with a six-figure salary, carrying the full weight of household costs limits your ability to save, invest or spend on yourself. Lifestyle imbalance and negative emotions: When one person is financially constrained while the other uses their full income for leisure, it can foster resentment. Power imbalance: Financial inequality can also seep into decision-making. The partner who pays for everything may feel overburdened and unheard, while the non-contributing partner may avoid accountability. Future financial insecurity: Without shared financial planning, big goals — from buying a home to starting a family — may be delayed or derailed entirely. It's about more than just paying the bills: Aligning your values, goals and decisions is important in a successful relationship. How to address it before saying 'I do' Before walking down the aisle, a couple in this situation needs to have a candid conversation in a productive, structured way. If you see yourself as the "giving" half of your relationship, here are a few practical steps to take to hopefully see change. 1. Have a values-based conversation Frame the conversation not as a confrontation, but as a shared planning session for your future. You can try something like: 'I want us to feel like we're building something together. Can we talk about how we want to manage money as a team?' Focus on shared goals, like housing, travel, kids and retirement, and how to achieve them together. Read more: 'You're going to live on beans and rice': This senior told Dave Ramsey she has debt and zero savings — 2. Consider financial counseling If emotions are running high, a third party can help. Premarital or financial counselling can uncover deeper money beliefs and create shared understanding. Resources, like the Canadian Association for Financial Empowerment, can help you locate professionals near you. You can also seek help from a financial advisor, who can look at you and your partner's financial health and find ways to be more reasonable with your money, like finding ways to save for the future, while also finding avenues for realistic, personal indulgences. 3. Propose a fair cost-sharing model A practical approach is using a cost-sharing model like a proportional contribution one. Under this, you'd figure out the proportion of total household income you each bring in. This system keeps contributions equitable while acknowledging income disparities. For example, say you earn 70% of your combined income and your partner earns 30%. You'd each contribute these proportions toward shared costs. So, if those costs are $65,000 annually, you'd pay $45,500 per year, while your partner would pay $19,500 per year. You can also look into a budgeting app, which can help bolster more thoughtful money management and create an actionable and trackable plan moving forward. 4. Set boundaries and deadlines If your partner continues to resist contributing, it's worth asking yourself if this is a difference in values or a refusal to partner in life. Marriage is a financial partnership as much as an emotional one. Put yourself first by setting a deadline to revisit the conversation and being honest with yourself about your limits. What To Read Next Here's how to retire in 10 short years no matter where you live in Canada — even if you're starting with $0 savings Here are 5 expenses that Canadians (almost) always overpay for — and very quickly regret. How many are hurting you? Are you rich enough to join the top 1%? Here's the net worth you need to rank among Canada's wealthiest — plus a few strategies to build that first-class portfolio Pet owners, here's how you can get up to 90% cashback on expensive emergency veterinary bills — and you can even get a free quote in 30 seconds 1. Statistics Canada: Survey of Household Spending, 2023 (May 21, 2025) This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
New York Post
6 hours ago
- New York Post
Elon Musk's long history of having a short fuse and burning through friends and relationships: ‘he busts up with everybody'
Become friends with Elon Musk and, likely, the clock will be ticking. Characters as diverse as Silicon Valley tech moguls and Canadian alt-pop singer Grimes have all entered his personal orbit before later screeching out again, usually followed by some degree of scorched earth via social media. There is no greater example than Musk's relationship with now-President Donald Trump. Everyone knew the richest man in the world would fall out with the most powerful, but few predicted it would happen so quickly — just six months after the inauguration. 'He is prone to lash out,' admitted Faiz Siddiqui, author of 'Hubris Maximus: The Shattering of Elon Musk,' to The Post. 'He is insulated and can make his point.' Advertisement Regardless of how sharp the point may be, Musk can shed a friend and walk away unscathed. 15 Elon Musk has been known to bring disagreements to X and to comment publicly. Getty Images 'He has an army, the largest following on X [the social media platform], that will back him.' Advertisement Here then is a sampling of former friends, colleagues and loved ones who once embraced Musk, only to later feel the burn. Larry Page Google co-founder Larry Page and Elon Musk were so chummy Musk routinely crashed at Page's home. Fortune included the pair in a story about 'eight business leaders you didn't know were BFFs.' But things fell apart when Musk hired a top scientist away from Google in 2015. Musk's artificial intelligence company, xAI, paid Ilya Sutskever $1.9 million to head up its new lab. According to 'Musk,' by Walter Isaacson, the poaching ended their friendship. 'Larry felt betrayed and was really mad at me,' Musk told Isaacson in the book. 'He refused to hang out with me anymore.' Advertisement 15 Larry Page of Google fell out with Elon Musk after Musk poached one of his employees. AFP/Getty Images Zack 'Asmongold' Hoyt It's hard to imagine the world's richest man in a childish spat with an online gaming streamer. But that was the situation with Musk and Zack 'Asmongold' Hoyt. Like other professional gamers, Asmongold watched Musk playing 'Path of Exile 2' on a livestream. Following common sentiment, he alleged Musk paid other people to play for him, which is called 'boosting.' Apparently insulted by the allegation, Musk unfollowed Asmongold and removed his blue checkmark from X. In response, Asmongold posted a YouTube video called 'Elon Musk has Lost It.' Advertisement Musk went on to push out private direct messages between them. Forbes summed up the fallout by noting about Musk, 'He may not really have time to beef with Twitch streamers … Yet, here we are.' 15 The gamer Zack 'Asmongold' Hoyt saw his relationship with Elon Musk fizzle after he accused Musk of boosting a computer game. Asmongold/ X Justine Wilson Justine Wilson was married to Musk from 2000 to 2008. She watched him become a billionaire and bore six children (one of whom died tragically at 10 weeks due to Sudden Infant Death Syndrome). She later described herself as a 'starter wife.' Musk, according to Wilson, told her, 'If you were my employee, I would fire you.' After eight years and three sessions of couple's counseling, Musk filed for divorce. During two years of litigation – which Musk said cost him $4 million – she rallied for their house in Bel Air, 10 percent of his Tesla shares, 5 percent of his SpaceX shares, $6 million and a glacier blue Tesla Roadster. But thanks to a prenup, Wilson said, 'I had effectively sold away all my rights as a married person.' She wound up with far less than the billions won by other tech divorcees like Bill Gates' ex Melinda French and Jeff Bezos' firs wife, MacKenzie Scott. While Forbes estimates Wilson's wealth at $18 million, they also estimate she would have $17.3 billion had she received the settlement requested. 15 Elon Musk and Justine Wilson when they were still married to one another. Justine Musk Advertisement 15 Had Elon Musk given ex-wife Justine Wilson what she asked for in their divorce, Wilson would be a billionaire today. AFP via Getty Images Vivian Jenna Wilson Originally name Zavier, Vivian Jenna Wilson was born male, to Musk and Justine, along with a twin sister, in 2004. Responding to Vivian's transgender identity, Musk publicly maintained that his offspring was 'not a girl' and described them as being 'dead' to him. Vivian went to a California court to change their name and distance themselves from their father. 'I no longer live with or wish to be related to my biological father in any way, shape or form,' Vivian stated in the filing. 15 Vivian Jenna Wilson told a California court that she no longer wishes 'to be related to my biological father.' Vivian Jenna Wilson/TikTok Philip Low Advertisement After meeting Elon Musk socially in 2011, neuroscientist Philip Low, who had been a test subject for Stephen Hawking, became fast friends with the Silicon Valley mogul. Soon after, Low launched a company called NeuroVigil, which boasted a non-invasive device for brain monitoring. Musk invested and joined the board. In 2021, according to Politico, Musk – who had his own brain implant company, Neuralink – wanted to resign from the other company's advisory board. Not wanting him to exercise his stock options, which could significantly hurt Neurovigil, Low fired him. He sent an email to Musk, warning, 'Don't f—k with me.' Advertisement According to Politico, Low '[cast Musk] as obsessive, prone to seeking revenge, power hungry and in constant search of dominance.' 15 Philip Low warned Musk 'don't f–k with me' when he started making noise about exiting his brain implant start-up. Martin Eberhard In 2003, Martin Eberhard was one of two co-founders who incorporated Tesla. Elon Musk invested in the company and, one year later, became chairman. Musk was later recognized as a cofounder, following a lawsuit. 'That was a side issue and it got sorted out,' Siddiqui told The Post. The falling out has more to do with Musk 'claiming that he was almost solely responsible for the company.' Advertisement It doesn't help that Musk ousted Eberhard from his CEO post in 2007, according to Business Insider. Musk has since described Eberhard as 'by far the worst person I've ever worked with in my entire career.' In 2009, Eberhard sued Musk for defamation. Though the suit was settled out of court, in Isaacson's Musk bio, Eberhard does marvel, 'This is the richest man in the world beating on someone who can't touch him.' 15 Martin Eberhard wonders why 'the richest man in the world' would be 'beating on someone who can't touch him.' AP Sam Harris Disagreeing with Elon Musk might not be a good way to foster a friendship with him. The neuroscientist Sam Harris discovered this the hard way. Harris and Musk first became acquainted in 2008. They fell out in 2020 when Musk tweeted 'the coronavirus panic is dumb.' Harris has claimed that he asked Musk to 'walk back' from the position. 'There was a question about Musk weighing in on something that he does not have the expertise to weigh in on,' said Siddiqui. 'Is that putting people at risk?' Harris claimed Musk bet $1 million with him that there would be no more than 35,000 COVID-19 cases in America. If the number exceeded 35,000 Harris would be paid $1 million, to go to a charity. If it did not, Musk would get a $10,000 bottle of tequila. Harris obviously won. But did the million materialize? His texts went unanswered. Since then, via X, Musk called Harris 'mentally ill.' 15 Neuroscientist Sam Harris claims that musk lost a $1 million bet to him and did not pay it. YouTube/ Recode Harris said there is 'something seriously wrong with [Musk's] moral compass.' Grimes The singer whose real name is Claire Boucher was romantically involved with Elon Musk from 2018 until 2021. They have three children with unique names: X AE A-XII (aka, X), Exa (aka, Y) and Techno Mechanicus. There have also been suits and countersuits over custody. In February 2025, Grimes posted to X Musk should respond to a 'medical crisis' involving one of their children. When somebody questioned her taking a private situation to social media, she replied, 'If I have to apply public pressure then I guess that's where we're at.' X accompanied Musk when he met with President Trump in the Oval Office. Grimes allegedly posted to X she does 'not approve that in every conceivable way … I am desperate to solve it … But currently I don't know how to do it.' 15 Grimes went to X to ask Elon Musk to respond to a 'medical crisis' involving one of their children. Getty Images Sam Altman In 2015, Musk, Altman and others founded artificial intelligence company OpenAI as a non-profit. It then launched its for-profit arm, ChatGPT. Musk and Altman then fell out over the direction of the company. 'Musk wanted OpenAI to hold onto this idea that it is a non-profit,' said Siddiqui. 'Like that it would be for the good of humanity.' When Musk moved to buy OpenAI, Altman, 40, accused the tech billionaire of being in 'a position of insecurity,' adding 'I feel bad for the guy.' He also recently told The Post: 'Elon busts up with everybody, that's what he does,' the 40-year-old golden boy behind ChatGPT told The Post. Musk has taken to referring to Altman as 'Scam Altman.' 15 X, standing in front of Elon Musk, is his child who accompanied him to the White House. Getty Images 15 Regarding his former partner Elon Musk, Sam Altman said, 'I feel bad for the guy.' REUTERS Jack Dorsey Dorsey co-founded micro-blogging site Twitter, which Musk eventually bought and re-named X. In 2022 as the deal was about to go through, Dorsey went so far to say he had faith in Musk's 'mission to extend the light of consciousness.' But once in place, Musk made job cuts, changes in policy and the name change. By 2023, Dorsey was saying Twitter 'went south' after his purchase. 15 Twitter cofounder Jack Dorsey claimed that the site 'went south' after Elon Musk took it over. Getty Images Peter Thiel Peter Thiel and Elon Musk have known each other long enough for their relationship to be complicated. In 2000, they combined their respective banking companies to create PayPal. By 2025, it's been a bit of a roller coaster. According to Thiel biography 'The Contrarian,' the two men realized their differences early on. Soon after the merger, Musk crashed his million dollar McLaren while driving Thiel to a meeting. Thiel, according to the book's author, saw Musk as reckless. Musk viewed Thiel as profit driven. Following the merge, while Musk was on his honeymoon, Thiel and his loyalists pushed Musk out of his CEO spot. But the grudge didn't hold. After all, when Musk's SpaceX was going through choppy times in 2008, Thiel provided a $20 million investment that set the company right — and its rocket entered orbit on its next attempt. Though they have called one another unflattering names – according to Business Insider, Musk regards Thiel as 'a sociopath' and Thiel views Musk as 'a fraud' – Siddiqui sees common ground. 'I think philosophically they are largely aligned,' he said. 'In the political arena, they have advocated for a lot of the same policies.' 15 Peter Thiel is said to view Musk as 'a fraud' while Musk is said to view Thiel as a 'sociopath.' AP Vernon Unsworth Sometimes two people try to do the right thing and it goes terribly sideways. Such was the case when Elon Musk and British caver Vernon Unsworth pitched in to save 12 boys trapped in a waterlogged Thai cave system for 15 days. Musk sent engineers from Tesla and a mini submarine to the site. Unsworth took a more traditional approach, finding skilled cave divers and dispatching them to where the boys – members of a Thai soccer team – were trapped. Musk's vessel never got used and Unsworth dubbed it a PR stunt, suggesting that he 'stick his submarine where it hurts.' Musk entertained his 30 million followers on X by dubbing the diver 'pedo guy' in a since deleted tweet. 15 Vernon Unsworth, who helped save the Thai kids trapped in a cave, sued Elon Musk for defamation. The legal action was unsuccessful. AP Unsworth sued for defamation Musk insisted that, in his native South Africa, 'pedo guy' is a common phrase. The kids were saved, Musk was found not guilty of defamation. Musk's lawyer stated the obvious in his summing up: 'In arguments, you insult people.'
