Mr. Connolly says the damage is being inflicted in the financial sector, where the shares of companies such as Sun Life Financial Inc. and Great West Lifeco are heading down, which automatically pushes their yields up. Sun Life now yields 6.6 per cent ...
The companies listed here are the 1,000 largest publicly traded corporations, measured by assets. They are ranked according to their after-tax profits in their most recent fiscal year, excluding extraordinary gains or losses.
Other financial services firms, such as Great-West Lifeco and Power Financial, also make the cut. But so does Canadian National Railway as well as two telecommunications firms (Rogers Communications and BCE).
Representatives of insurance companies, including Paul Mahon, president and CEO of Great-West Lifeco, said a tax on these products could force many people to no longer buy them and in turn drive up health-care costs for the province.