BlackBerry Ltd expects a US500million tax refund within a year

TORONTO — BlackBerry Ltd. expects to receive a US$500-million tax rebate within the next year, according to a recent report filed with regulators.[np_storybar title=”Rogers won’t stock BlackBerry’s new Z30 phone when it’s released later this month” link=”https://business.financialpost.com/2013/10/03/blackberry-ltd-rogers-wont-stock-new-z30-phone-when-its-released-later-this-month/”%5D BlackBerry says its latest smartphone will arrive in Canadian stores later this month, but it won’t have the support of one of the country’s largest carriers — Rogers.Rogers’ decision not to stock the Z30 touchscreen model, which will become available in Canada on Oct. 15, comes as a surprise since the Toronto-based wireless and cable company was an early adopter of BlackBerry products.Continue reading. [/np_storybar]The Waterloo, Ont.-based smartphone maker expects to receive the money by the end of next August, when the second quarter of the company’s 2015 financial year ends.The documents were not clear on whether the bulk of the tax refund would come from Canada, where the global smartphone company is based, or another jurisdiction.It’s common for companies with big losses to seek and receive tax refunds.Last week, BlackBerry booked a US$965-million loss for the second quarter of its 2014 financial year, mostly due to a writedown of inventory.More details on BlackBerry’s financial situation have come to light since it made a regulatory filing earlier this week.Among other things, the documents indicate BlackBerry expects to book US$400-million in charges from a variety of factors before the end of May 2014.Those expenses will cover costs associated with the previously announced layoffs of 4,500 employees, the reworking of its smartphone lineup and other changes to its manufacturing, sales and marketing operations, it said.Earlier this year, BlackBerry said it would likely book $100-million in charges through its 2014 financial year, which ends on March 1.But the company’s financial results have weakened, amid poor sales of its BlackBerry Z10 touchscreen phones, and the company is restructuring and looking for a buyer.On Friday morning, BlackBerry shares rose a penny to $7.98 on the Toronto Stock Exchange. read more

Nearly six per cent admit to drink driving men more likely to

first_imgNEARLY SIX PER CENT of people polled by the AA have admitted to having driven whilst drunk with men more likely than women to drink and drive.A new survey of over 16,300 people by AA Motor Insurance has found that more than 11 per cent of drivers say it’s common to see drunk drivers on the road.AA spokesperson Arwen Foley described this is a “shocking statistic” which is too high.The majority of those polled (nearly 52 per cent) said it is rare to see drunk drivers on the roads while 17.4 per cent said they never see it.Of those surveyed 7.3 per cent of men admitted to drink driving compared to just  3.8 per cent of women.Foley said that with the days getting colder and wetter people may be more inclined to use their cars to get around, including to go drinking.She said: “Getting closer to the festive season there is going to be more occasions for staying out drinking.“Worsening weather will make it difficult for drivers in general but driving under the influence of alcohol in these conditions is just crazy.”AA is advising people to take taxis in groups to reduce costs or else have a designated driver.Read: 127 arrests for suspicion of drink driving in the last weekThe Comeback Kid: car crash survivor spreads word about drink drivinglast_img read more