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Travers Smith Guides £105M Nortel Pension Deal With L&G


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Travers Smith Guides £105M Nortel Pension Deal With L&G
Law360, London (May 11, 2021, 12:28 PM BST) The British employee retirement scheme of Nortel Networks Corp., the Canadian telecoms giant that collapsed in 2009, has insured a further £105 million ($148 million) of pension liabilities with Legal & General Assurance Society Ltd., the insurer said on Tuesday.
The buy-out means L&G will take on full responsibility for paying members in the Nortel Networks UK Pension Plan. The deal builds on an earlier £2.4 billion buyout in 2018 and will provide additional benefits to 8,200 retirees and 4,300 members of the retirement scheme, L&G said.
The pension scheme is the workplace saving plan for British employees of Nortel, a Toronto-based global. ....

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Fishing for chips: Making the case for a homegrown Canadian semiconductor industry


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Natalia Mykhaylova’s Toronto-based company WeavAir sells sensor and data-collection technology designed to improve air quality, cut maintenance and energy costs, and improve efficiency in places ranging from mass transit hubs to hotels.
Customers and prospective buyers started asking for something that would measure viruses and bacteria in the air after COVID-19 was declared a pandemic last year, but the technology didn’t exist. Mykhaylova, whose background includes degrees in chemical engineering and pharmacology, decided to build it.
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Fishing for chips: Making the case for a homegrown Canadian semiconductor industry Back to video ....

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