On June 18, Facebook unveiled details about the Libra, its new virtual currency slated for release next year.
Louis Roy, assurance partner and president of Catallaxy, was approached for comment by several media outlets. On the eve of the announcement, he told Radio-Canada that “the undertaking is particularly interesting due to its scope, given that Facebook has 2.4 billion users.”
Speaking to Kyk radio in Saguenay–Lac-Saint-Jean, Mr. Roy explained that “this digital currency has tremendous potential since there are more unbanked people in the world than banked people. The currency is available at very low cost thanks to blockchain technology and it enables users to carry out a wide range of transactions on their cell phone, without a bank account.”
Quoted in the Journal de Montréal, Mr. Roy added that “this is going to shake up the financial system. Facebook’s new currency has far-reaching implications and we can expect that, once it’s introduced next year, it will be here to stay—though it will almost certainly evolve over time.”
When interviewed for RDI économie and Le Téléjournal de Radio-Canada, Mr. Roy stated that the Libra project is unique in that “it’s the first cryptocurrency to be backed by major players from the financial sector, including Uber, Spotify, Visa, Mastercard and PayPal.”
He also explained to iHeartRadio’s Énergie Québec that the value of this “stablecoin” is closely linked to that of traditional currencies, such as the US dollar, which makes it less risky for users. “The Libra aims to be a global currency. It will be interesting to see how it will contend with different regulations in different countries.” During the interview, he also went into detail about blockchain technology and cryptocurrencies, including the difference between the upcoming Libra and Bitcoin.
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Conseiller.ca posted an article on deducting expenses for self-employed financial services advisors.
Although they can deduct any work-related expenses, “if they are unable to prove that an expense was incurred to earn income, the expense cannot be deducted. This is key,” states Jean-Pierre Poulin, Tax Partner at Raymond Chabot Grant Thornton.
In the article, Poulin discusses eligible expenses vs. personal expenses: kilometres travelled, interest on loans, meal and entertainment expenses, home office, etc.
For more information about these measures, read the article on Conseiller.ca.
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With the publication of a special report on headhunters, Les Affaires is focussing on human resource issues.
One of these issues is the retention of new employees. The vast majority of headhunting firms offer a guarantee ranging from six months to one year to both client and candidates. “If it doesn’t work out during this period, we take the file back,” explains Louise Martel, Partner, Consulting Services. It is therefore essential to find the right candidate for the right challenges.
With this in mind, human resources professionals are finding that technical skills are becoming less important today. “Less and less time is spent evaluating them, to the benefit of behavioural and relational skills,” says Martel.
This report also includes an article on the integration of artificial intelligence into hiring processes. Our recruiting experts, partners Louise Martel and Jean-François Boudreault, also contributed to this article.
Even if artificial intelligence can be used, e.g. to perform an automated CV pre-analysis, Jean-François Boudreault says that “our profession is a craft; the emotional aspect remains very important. There are things that are experienced in interviews that cannot be described on paper. This is what our role is all about.”
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For many entrepreneurs, building a business from scratch might seem more glamourous, trying to be the next Steve Jobs, rather than taking over an existing business.
But takeovers do have their advantages: employees already in place, established procurement chain, etc. Existing businesses are a springboard to success, the conquest of new markets and modernization, with robotics and the positive effects of the digital shift
Entrepreneurs need to call on their creativity and innovation just as much during a takeover as when they create their own business
Quoted in the Ordre de Ingénieurs du Québec’s Plan magazine, Éric Dufour, Vice-President and National Entrepreneurial Succession Leader, reminds readres of the importance of properly planning a business succession in order to mitigate the financial risks related to a business transfer:
“Having an accounting approach is not enough; a comprehensive business valuation should be carried out. This means a diversified team including an industrial psychologist, a human resource specialist and a management specialist.”
Read the article here (in French).