Home Capital cuts 65 jobs as part of costsaving head count down

TORONTO — Home Capital Group Inc. (TSX:HCG) says it has eliminated 65 jobs from its workforce as part of a program to cut $15 million in annual costs.The Toronto-based alternative mortgage lender says after factoring in the latest job cuts, the company’s head count has been reduced by 10 per cent since the end of June.Home Capital said Monday it cut the 65 full-time positions from its operational, sales and underwriting division.In February 2017, the company announced an expense-savings initiative called Project Expo, which targeted annual cost savings of $15 million.Home Capital says Project Expo is largely complete and it expects to achieve its goal.However, the alternative mortgage lender says it is still facing elevated expenses after a run on deposits by customers in April, following allegations by regulators that it misled investors. read more

Despite progress Kosovo still a considerable way from UN targets Annan

Though significant achievements were made in Kosovo towards the end of 2002, the province is still a considerable way from reaching the individual benchmarks and targets set by the United Nations, according to a report by UN Secretary-General Kofi Annan released today in New York.In the report covering the activities of the UN Interim Administration Mission in Kosovo (UNMIK) since last October, Mr. Annan highlighted such positive developments as the second municipal elections and the beginning of the handover of the electoral process to local control, as well as the extension of UNMIK’s authority to northern Mitrovica and the appointment of judges and prosecutors from minority communities.At the same time, he pointed out that a year after the formation of the Provisional Institutions of Self-Government, much remains to be done to build effective, representative, transparent and accountable institutes with meaningful participation of minority community representatives in the civil service. Fighting crime and promoting acceptance of the rule of law remain significant challenges, Mr. Annan said, voicing concern at the violence among the Kosovo Albanian community as well as the persistent violence against the Kosovo Serb community. He urged both the majority and minority communities to make renewed efforts to inject momentum into improving inter-ethnic dialogue and promoting the reconciliation process.”Much energy has been spent seeking challenging the authority of my Special Representative and seeking additional powers,” the Secretary-General said, referring to his envoy in Kosovo, Michael Steiner. “It is important that the Kosovo leadership recognize that, in order to gain additional competencies, they first need solid accomplishments for the benefit of all communities in the areas for which they do have responsibility under the Constitutional Framework.”Mr. Annan welcomed the decision of the Return Coalition to go back to the Assembly and the introduction of formal monitoring of proceedings, adding that a functioning, representative Assembly is a prerequisite for progress. read more