HARD NUMBERS: Pennies come to an end, Canadian pension giant boosts US holdings, Ottawa’s diplomats under fire in West Bank, Pentagon officially accepts Qatari jet, California lawyers take Ford on “magical mystery tour”
56 million: The US Treasury has issued its final order for pennies, and expects to stop putting the smallest denomination of US currency into circulation entirely by early next year. The move to end the penny -- driven by President Trump and now backed by legislation from both parties -- will save the US government $56 million annually.
47: Well, this is awkward. Canada’s largest pension plan, CPPIB, recently increased the share of its investments in the US to 47%, despite pressure from Ottawa to invest more at home amid growing tensions with the Trump administration. Last year, CPPIB parked just 42% of its money south of the border.
4: Canada’s foreign minister has summoned Israel’s ambassador to Ottawa for an explanation after an incident in the West Bank this week, in which the IDF fired shots near a delegation that included four visiting Canadian officials. Israel said its troops had fired “warning shots” after a group of diplomats “deviated from the approved route.”
400 million: It’s official: the Pentagon has approved receipt of a $400 million luxury Boeing jet that Qatar gifted to President Trump for use as an Air Force One jet. The White House said the gift was well-timed, given delays in Boeing’s own delivery of Air Force One jets. But critics say the gift raises ethical and national security concerns.
57.5: Think you have a long workday? Perhaps you do. But a California lawyer has defied the laws of time by allegedly billing Ford Motor Company for 57.5 hoursin a single day. The carmaker is suing a number of Golden State law firms for what it says was a “magical mystery tour” of overcharging scams that cost Ford at least $100 million.