To learn more about the application process, eligible costs, and guidelines, go to Nova Scotia Film and Television Production Incentive Fund at www.nsbi.ca . -30- Quick facts: Nova Scotia Business Inc. announced two newly approved productions through the Nova Scotia Film and Television Production Incentive Fund today, March 8. The documentary Body Language Decoded, produced by Body Language Films Inc., has received a funding commitment of $134,421. The television pilot Mi’kmaw Customary Law Circle, produced by Houston Productions Inc., has received a funding commitment of $15,492. More information on the incentive fund can be found at www.nsbi.ca/filmfunding . the fund applies to eligible costs such as labour, goods or services purchased from a Nova Scotia–based supplier when an application is approved NSBI issues a commitment letter which can be used for bank financing and when the applicant enters the official incentive agreement, the agreement can also be used for the financing process once a production is approved for a funding commitment, the funds are placed in reserve when the production is complete the applicant submits a final claim to NSBI for processing and disbursement all applications and claims are processed and approved by NSBI.
Solid bank earnings helped give the Toronto stock market a modest gain Thursday while traders also looked to remarks this morning from U.S. Federal Reserve chair Janet Yellen.The S&P/TSX composite index climbed 29.56 points to 14,218.14 as CIBC (TSX:CM) posted quarterly net income of $1.18 billion, up nearly 50 per cent from a year ago and partly due to its sale of half its Aeroplan credit card business to TD Bank (TSX:TD).Ex-items, CIBC’s earnings were up 6.3 per cent to $951 million or $2.31 a share, 15 cents better than estimates. TD’s adjusted net income was $2.02 billion, or $1.06 per common share, two cents ahead of estimates.TD hiked its dividend by nine per cent to 47 cents per share while CIBC’s will be going up about two per cent to 98 cents per share. TD shares rose 17 cents to $49.59 while CIBC gained $1.25 to $91.84.The Canadian dollar was off 0.12 of a cent to 89.74 cents US.New York indexes were lacklustre while traders also digested data showing that orders for durable goods declined a seasonally adjusted one per cent in January compared with December. Much of last month’s decline was driven by a 20.2 per cent drop in demand for commercial aircraft, a volatile month-to-month category.The Dow Jones industrials shed 19.27 points to 16,179.14, the Nasdaq was down 4.02 points to 4,288.05 while the S&P 500 index slipped 2.36 points to 1,842.8.Yellen’s testimony before the Senate’s Banking Committee was supposed to take place earlier this month but was postponed because of a fierce winter storm in Washington. Investors will be looking to see what she says about how tough weather conditions have impacted the economy and if the Fed plans to further taper its bond purchases.In other earnings news, Maple Leaf Foods (TSX:MFI) dropped two per cent to $15.88 as it reported an adjusted quarterly operating loss of $21.7 million or 25 cents a share, a big miss from the six cents a share of adjusted profit that analysts had estimated.Valeant Pharmaceuticals International (TSX:VRX) reported quarterly net income of $124 million, or 36 cents per share, compared to a loss of $89.1 million a year ago. Revenues in the quarter were $2.1 billion, up 109 per cent compared to a year earlier and its shares were up $1.32 to $163.70.The gold sector led TSX advancers, up two per cent as April bullion gained $4.20 to US$1,332.20 an ounce.The base metals sector was up 0.7 per cent as May copper lost two cents to US$3.19 a pound.A major decliner was Taseko Mines (TSX:TKO) after the federal government again rejected its proposed $1.5-billion, open-pit, gold-copper mine in British Columbia’s Interior over environmental concerns. The environment department rejected the New Prosperity Mine for a second time because it will cause significant adverse environmental effects that can’t be mitigated and its shares fell 15 cents or 6.33 per cent to $2.22.The energy sector was off 0.17 per cent as the April crude contract in New York dipped 44 cents to US$102.15 a barrel.