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We still have to be patient until the real estate market stabilizes. Despite a slight lull, prices remain high.

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“There are many buyers. There aren’t many units available, and there isn’t a lot of land available for new build either,” explains Michel Michaud, real estate agent at Proprio Direct.

In Rimouski alone, property prices have increased by almost 49% since 2019.

“The sellers lie[in Bezug auf die Preise]always ahead of the market,” added Nathalie Babin, real estate agent at Via Captiale. But we are slowly moving towards a more balanced market. 2022 will certainly be the year of transition.” [auniveaudesprix)aajoutéNathalieBabinagenteimmobilièrechezViaCaptialeMaisons’envatranquillementversunmarchépluséquilibré2022seracertainementl’annéedetransition»

This transition is already noticeable.

Compared to last year, the number of properties listed in Rimouski increased by almost 30%, while the number of transactions decreased by the same percentage. Rising interest rates and inflation reduced the number of buyers in the market.

When the current market isn’t smiling at first-time buyers, access to property remains an achievable dream.

“The first buyer really has to calculate his budget with a possible rate hike. Young people often live in dreams a bit too, because older friends and relatives have nice houses. They want something turnkey that they will keep for 25 years. That’s not the reality,” Ms. Babin said.

Marisa Thalberg, Executive Vice President and Chief Brand and Marketing Officer.

Source: Marisa Thalberg

Lowe’s chief marketing officer Marisa Thalberg has left the retailer as part of a broader restructuring, the company announced on Tuesday.

The home improvement retailer has trimmed its role and moved its marketing team under Bill Boltz, executive vice president of merchandising. Thalberg previously reported directly to CEO Marvin Ellison.

Thalberg’s departure is part of a growing wave of leadership changes in the retail industry. Gap, GameStop and Bed Bath & Beyond are among the other retailers that have lost C-suite executives. Such restructuring has gained momentum as stimulus check-driven spending eases and inflation pulls some consumers back on discretionary purchases. For some companies, particularly large beneficiaries of the pandemic like Peloton, this has meant a sudden and dramatic drop in sales.

Lowe’s has also experienced a slowdown. Same-store sales have declined over the past two quarters. The company said it now expects total and comparable sales for the year to be at the lower end of its guidance range. It had forecast revenue of $97 billion to $99 billion and comparable sales of 1% to 1%.

Thalberg assumed the role in February 2020, a month before the pandemic began, and led to a spike in home improvement spending. She oversaw several high-profile campaigns, including TV commercials on ESPN during the NFL draft, and expanded efforts to capitalize on the holiday season.

Before joining Lowe’s, she was Taco Bell’s Global Chief Brand Officer and worked for Estee Lauder, Unilever Cosmetics International and Revlon.

Lowe’s tapped into the advertising executive to woo customers while the retailer overhauled its broader business and took a deeper dive into larger competitor Home Depot. Led by Ellison, who joined Lowe’s in 2018, the home improvement retailer has relaunched its website, introduced a new loyalty program to chase home improvement dollars and expanded its merchandise mix to include exercise equipment, pet supplies and more home decor.

It also wanted to refresh its image and commissioned Thalberg to oversee this. At the time of her hiring, Ellison said that Lowe hired her to modernize Lowe’s approach to marketing, such as B. Personalizing messages on social media for customers instead of relying on traditional channels like TV and radio.

Thalberg was not immediately available for comment.

According to Lowe, Thalberg’s departure is one of several company-wide changes that went into effect on Friday. It said all of the changes are intended to “improve alignment across the business and position Lowe’s for success.”

The business, which caters to home professionals such as electricians and contractors, is now listed under Store Operations. Tony Hurst, a senior vice president overseeing Lowe’s pro business, will now report to Joe McFarland, Lowe’s executive vice president of stores. He previously reported directly to Ellison.

The Online team, previously led by Boltz, will now report to the Technology team instead of the Merchandise team. Mike Shady, senior vice president of online, will report directly to Seemantini Godbole, Lowe’s chief digital and information officer.

Lowe’s CMO role has not been filled. Instead, Lowe’s has promoted Jen Wilson to senior vice president of enterprise brand and marketing, and she will report to Boltz.

Shares of Lowe’s are down about 25% so far this year, closing at $192.96 on Tuesday.

Troubled homewares retailer Bed Bath & Beyond Inc. on Tuesday appointed an interim manager to head its finances, a move aimed at reassuring investors following the death of chief financial officer Gustavo Arnal.

Union, NJ-based Bed Bath & Beyond said Laura Crossen will take over on an acting basis effective September 5 following Mr Arnal’s suicide on Friday. Ms. Crossen, who joined the company in 2001, was promoted to Chief Accounting Officer at the end of June following the resignation of her predecessor, John Barresi. She previously held the position of senior vice president of Treasury and Tax and will continue to serve as the company’s chief accounting officer.

Ms Crossen did not respond to a request for comment.

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Shares of the company are down about 50% year-to-date, closing down 18% at $7.04 on Tuesday.

Mr. Arnal, who became CFO of Bed Bath & Beyond in spring 2020, jumped out of a New York building on Friday, two days after he briefed investors on the retailer’s plans to secure new financing, cut jobs and buy about a fifth of the company to close its stores.

His death adds to the company’s leadership void following the ouster of former CEO Mark Tritton in late June and the departure of other senior executives. Mr Arnal was a key figure in the management team hired by Mr Tritton, who was replaced after the company reported two consecutive quarters of disappointing results. Bed Bath & Beyond is currently led by Sue Gove, an independent director on the company’s board of directors, while the search for a permanent CEO is ongoing.

Ms Crossen must work to stabilize the company’s finances, which have deteriorated sharply in recent months, analysts said. Bed Bath & Beyond depleted its capital reserves and ended May with $107.5 million in cash, compared to $1.1 billion a year earlier. It posted a net loss of approximately $358 million for the quarter ended May 28, compared to a net loss of approximately $51 million a year earlier.

Last week, Bed Bath & Beyond announced it had secured $500 million in financing, including a new $375 million loan from JPMorgan Chase & Co. of Sixth Street Partners. The fresh cash would stabilize business as the company enters the holiday season, Mr Arnal and other executives said. Suppliers need reassurance it’s safe to supply the company with inventory ahead of the holidays, analysts said. Bed Bath & Beyond said last week that some providers were asking for better payment terms amid concerns about its liquidity.

After years of declining sales, Bed Bath & Beyond is facing an existential crisis. WSJ’s Suzanne Kapner explains why the company has fallen on hard times and looks forward to what’s next for the veteran retailer. Photo illustration: Laura Kammermann/WSJ

Speaking to investors last week, Mr. Arnal discussed Bed Bath & Beyond’s restructuring plans and provided preliminary financial guidance. He also informed analysts that the company was still in the process of finalizing its accounting for the quarter ended August 27. Bed Bath & Beyond must file its quarterly 10-Q with regulators within 45 days or request an extension.

Ms. Crossen has been with the company for more than 20 years, which likely means she “can keep the reporting and day-to-day running,” said Cristina Fernández, senior equity research analyst at brokerage firm Telsey Advisory Group LLC. “I think they should be able to make it in time,” Ms. Fernández said, referring to the closing of the books for the most recent quarter.

Ms Crossen needs to restore investor confidence in the company and its turnaround strategy, which took another hit after Bed Bath & Beyond announced it was revising its plans to close about 150 underperforming stores and bring back national brands after it focused on private label products under former CEO Mr Tritton.

“Bed Bath & Beyond needs to send a strong message to the streets and communicate that they are focused on turning the tide,” said Cathy Logue, head of the financial officers practice at Stanton Chase, an executive search firm.

The stock was down after activist investor Ryan Cohen sold his entire stake in the company on Aug. 18, about five months after he originally bought it. On August 16-17, Mr. Arnal sold approximately 55,000 of his shares for approximately $1.4 million when Bed Bath & Beyond’s stock rose to over $20, according to filings with securities regulators.

Mr. Arnal’s shares were automatically sold under a plan agreed with securities regulators in April. Such plans are usually set up by company insiders to sell shares at predetermined prices. According to securities records, Mr. Arnal owned approximately 255,000 shares following the transactions.

Mr. Cohen and Mr. Arnal have been named as defendants in a shareholders’ lawsuit seeking class-action status alleging their involvement in illegal insider trading. Bed Bath & Beyond said it believes the lawsuit is unfounded.

Some analysts had expected an interim CFO with experience in large, struggling companies.

“I thought it was more likely that they would appoint an interim CFO from a restructuring firm,” said Seth Basham, managing director of equity research at Wedbush Securities Inc., an investment firm.

Cosmetics maker Revlon Inc. did just that in August when it appointed Matt Kvarda, a managing director at services firm Alvarez & Marsal Holdings LLC, as interim CFO. His appointment came about two months after Revlon filed for bankruptcy protection. Mr. Kvarda can support companies with restructuring and reorganization.

Finding a permanent replacement for Mr. Arnal will likely be a challenge for Bed Bath & Beyond until there is a new chief executive officer, recruiters said. Concerns about the company’s viability add to the problem, as high-profile candidates are unlikely to join a company facing bankruptcy, according to analysts.

“I think it’s challenging to get both a CEO and a CFO,” said Ms. Fernández. “It’s harder to attract high-quality talent to these turnaround situations, which are more precarious.”

– Dean Seal, Jennifer Williams-Alvarez and Suzanne Kapner contributed to this article.

write to Nina Trentmann at [email protected]

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A former CIUSSS de la Capitale-Nationale employee used her position at a COVID-19 vaccination center to provide false vaccination records.

• Also read: COVID-19: New variants could emerge this winter, EMA warns

Following an investigation by UPAC, Carolane Fournier has been charged with breach of trust, producing forged documents and using a computer fraudulently, the anti-corruption commissioner said in a statement.

Between September 8 and September 17, 2021, the woman has “wrong diets on the Quebec vaccination registry for herself and for others,” we read in the press release.

Thanks to these false entries, these people were able to receive a false vaccination profile, which allowed them to obtain the famous QR codes used in Quebec as proof of vaccination.

The logo of the social network Truth can be seen behind a woman holding a smartphone in this photo taken on February 21, 2022. Portal/Dado Ruvic/Illustration

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September 6 (Portal) – The blank check acquisition firm, which had agreed to a merger with former US President Donald Trump’s social media company, failed on Tuesday to secure enough shareholder support for a one-year extension to complete the deal .

At stake is a $1.3 billion cash injection made by Trump Media & Technology Group (TMTG), which operates the Truth Social app, from Digital World Acquisition Corp (DWAC.O), the special purpose vehicle ( SPAC) made a deal in October to take TMTG public.

The transaction has been put on hold due to civil and criminal investigations into the circumstances surrounding the transaction. Digital World had hoped that the US Securities and Exchange Commission, which is reviewing its disclosures on the deal, would have given its blessing by now.

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Digital World chief executive Patrick Orlando told a special meeting of his shareholders Tuesday that he would extend the deadline for voting on extending the SPAC’s lifespan by 12 months to Thursday noon.

Digital World needs 65% of its shareholders to vote on the proposal, but support late Monday fell far short, Portal reported. Digital World didn’t disclose the margin on Tuesday. Continue reading

Digital World shares fell 17% to $20.74 early Tuesday afternoon in New York.

Digital World is expected to liquidate on Thursday and return cash raised in its September 2021 IPO to shareholders unless action is taken.

Digital World shareholders have had more than two weeks to vote on extending the SPAC, and it’s unclear if two extra days will make a difference. Most of Digital World’s shareholders are individuals, and getting them to vote on their brokers has been a challenge, Orlando said last week.

If Digital World does not receive sufficient shareholder support, management has the right to unilaterally extend the term of the SPAC by up to six months. It’s unclear if Digital World will pursue this option and if it would give regulators enough time to decide whether to go ahead with the transaction.

A TMTG spokesman said the company will continue to work with all parties involved in the merger and hopes that “SEC officials will complete their review in a timely manner and free from political interference.”

An SEC spokesman did not immediately respond to a request for comment.

Trump seemed to manage expectations of the deal with a post on Truth Social over the weekend: “I don’t need funding, ‘I’m really rich!’ Anyone private company???”

Digital World has announced that the SEC, the Financial Industry Regulatory Authority and federal prosecutors have investigated the TMTG deal, although the exact scope of the investigation is unclear.

Information requested by regulators includes documents from Digital World regarding due diligence of potential targets other than TMTG, relationships between Digital World and other companies, meetings of Digital World’s board of directors, policies and procedures related to trading and the identity of certain investors, said.

PIPE IN DANGER

If the transaction closes, TMTG would receive $293 million that Digital World has available, plus $1 billion committed by a group of investors in the form of a private public equity investment (PIPE).

The PIPE is expected to expire on September 20th unless the deal closes. Digital World investment bankers have been reaching out to investors in recent weeks to gauge their interest in extending the PIPE, a person familiar with the matter said.

It’s unclear how TMTG manages without access to Digital World’s funding. Last year, $22.6 million was raised through convertible debentures and an additional $15.4 million through bridge financing during the first quarter. The agreement with Digital World caps the debt TMTG can assume prior to the closing of the transaction to $50 million.

Digital World has said it believes TMTG will have “sufficient funds” by April 2023. TMTG said last week that Truth Social is “on a strong financial footing” and will start running ads soon.

Trump began using Truth Social in April, two months after it launched on Apple Inc.’s (AAPL.O) App Store. He has more than 4 million followers — a fraction of the 89 million he had on Twitter Inc (TWTR.N) before he was banned from thousands of his supporters for his role in the January 2021 US Capitol riots.

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Reporting by Echo Wang and Helen Coster in New York; Edited by Richard Chang and Jonathan Oatis

Our standards: The Trust Principles.

To all those who supported the Parti Québécois in their search for a country during the elections from 1976 to 2018 and the referendums of 1980 and 1995, I ask you with all my strength and with all my sovereignist conviction to come next October 3rd elect, in each of their respective ridings, in favor of the candidate of the Parti Québécois, beyond his chances of being elected or not.

While several political analysts repeatedly mention the likely disappearance of the Parti Québécois after the Oct. 3 election, as many as 31% of Quebec voters (August 2022 poll) say they support Quebec sovereignty.

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The Parti Québécois may well be considered by many to be an outdated or antiquated vehicle, but throughout its years of intense quest for sovereignty it has managed to accomplish such fundamental things as:

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call for solidarity

In October 2022, the people of Québec cannot watch in passivity or indifference the death of the instrument that gave itself to liberate Québec, the Parti Québécois.

Québecians, we owe it to ourselves to restart the project we have been harboring for so many years and give ourselves a country, and this requires, among other things, the solidarity of everyone and everyone during the October 3 elections. We must choose Parti Québécois. Therefore, in my riding of Louis-Hébert, I will be voting for Victor Dubuc, 24, a student in Public Affairs and International Relations at Laval University and a candidate for the Parti Québécois.

paul beginning, Former Minister of Justice in the governments of Jacques Parizeau, Lucien Bouchard and Bernard Landry

US natural gas futures slipped around 5% on Tuesday, hitting a four-week low as rising production combined with lower demand forecasts push prices lower, even as inventories are 11% below their five-year norm.

US natural gas fell 5.2% to $8.38 as of 1:10 p.m. EST.

Production is still strong following the Energy Information Administration’s (EIA) latest report for the week ended August 26, which showed a 61 billion cubic foot build in natural gas inventories. While this brings inventory to 2,640 Bcf, it is still 228 Bcf below levels at the same time last year – heading into the winter season.

Another reason for the decline is the failure of the Gulf Coast’s main LNG export facility, Freeport.

This outage means traders calculate about 2 billion cubic feet of gas per day that is not consumed by Freeport for export and remains on the domestic market.

Freeport — which accounts for around 20% of US LNG export capacity — is expected to remain offline until sometime in the first half of November, at which point we could only see partial commissioning, which ramped up to full capacity by the end of this month. However, Freeport has pushed back a restart date several times since declaring and then rescinding force majeure in June.

On June 8, Freeport suffered an explosion that caused the facility to close for damage assessment and repairs.

So far in September, despite the Freeport outage, Refinitiv data showed an increase in the average amount of natural gas pumped into US LNG export facilities to 11.2 Bcfd from last month’s average of 11 Bcfd.

Global natural gas prices continue to rise due to the twin developments of supply disruptions and sanctions against Russia over its invasion of Ukraine. Prices continue their rapid upward trend after Russia halted inflows into Germany through Nord Stream 1 last week.

By Charles Kennedy for Oilprice.com

Other top reads from Oilprice.com:

Oil pump jacks are seen at the Vaca Muerta shale oil and gas reservoir in Patagonia’s Neuquen province, Argentina, January 21, 2019. Portal/Agustin Marcarian

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• OPEC+ cuts production by 100,000 bpd in October
• The EU’s Borrell is less optimistic about a quick revival of the Iran nuclear deal
• US Holidays delay weekly inventory reports

NEW YORK, Sept 6 (Portal) – Oil prices fell on Tuesday as concerns returned over the prospect of more rate hikes and COVID-19 lockdowns weakening fuel demand and a two-day rally after OPEC+’s first production target cut since 2020 reversed.

Brent crude settled at $92.83 a barrel and was down $2.91 or 3%. US West Texas Intermediate (WTI) fell to $86.88 a barrel from Monday trade, up 1 cent from Friday’s close.

The US benchmark has traded without settlement since Sunday due to the Labor Day holiday. WTI prices are down more than 2% from Monday’s usual settlement point, data from Refinitiv Eikon shows.

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“The OPEC+ news is now in the market and the focus has temporarily shifted to economic and inflationary concerns, among which the two relevant factors are the extended COVID lockdowns in China and Thursday’s ECB interest rate decision,” Tamas Varga said on Thursday Oil broker PVM.

China has eased some COVID-19 restrictions but extended lockdowns in Chengdu, fueling fears that high inflation and rate hikes will hurt oil demand. The European Central Bank is widely expected to hike interest rates significantly at its meeting on Thursday. Continue reading

A stronger US dollar, which gained about 0.6% on better-than-expected data from the US services industry, also put pressure on oil prices. Continue reading

Data on service sector activity fueled expectations that the Federal Reserve will continue to raise interest rates, which could trigger a recession and lower fuel demand. Continue reading

“Basically, it’s all about tight supplies and concerns about an economic slowdown that might materialize in the future,” said Phil Flynn, an analyst at Price Futures Group in Chicago. “This has created a lot of uncertainty in the market.”

On the supply side, signs that a deal to revive the Iran nuclear deal with world powers was less imminent challenged crude prices by reducing the chances that OPEC+ would go ahead with its plan to cut production, said Bob Yawger , director of energy futures at Mizuho.

The European Union’s foreign policy chief said Monday he was less hopeful about a quick revival of the deal.

“They may not get an OPEC production cut if the Iranians don’t put barrels on the market,” Yawger said.

The organization of petroleum exporting countries and allies led by Russia, known as OPEC+, decided on Monday to cut their October production target by 100,000 barrels per day (bpd). Prices rose on Friday before the meeting and after the decision. Continue reading

Due to the Labor Day holiday, weekly US inventory reports from the American Petroleum Institute and Energy Information Administration will be released on Wednesday and Thursday, a day later than usual.

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Additional reporting by Alex Lawler in London, Sonali Paul in Melbourne and Isabel Kua in Singapore Editing by Jason Neely, Mark Potter, Jonathan Oatis and Tomasz Janowski

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