Calgary Herald from Calgary, Alberta, Canada • 19

WSALE 1 -Mb i.ltWi-l jam TECHNOLOGY: Making your car 'smarter' Page C3 Hdl.ig ss USINE Contact: Steve Jenkinson 403-235-7580 Tuesday, September 2, 2014 CI Investment Returns in excess of aw flEAZ. ESTATE. REAL INVESTMENT. REAL RETURNS 1 nvestors brace for bumpy ride At the same time, stock markets are looking a bit tired with indexes in New York and Toronto at or near record highs thanks to a better than expected second-quarter earnings season and a string of data pointing to a strengthening American economy. "And that's why people are being a bit more cautious," added Cieszynski.

"Nobody really wants to take on any new positions. At the same time, they're not running for the exits either." There are also concerns that a more robust U.S. economy could persuade the Federal Reserve to hike interest rates ahead of expectations. Markets have generally expected the Fed to move short-term rates age in the low 60s. "The participation rate has stopped falling (and) its counterpoint, the employment to population ratio, has been finally grinding higher over the last year or so," said Porter.

"The U.S. labour market is finally turning the corner and, quietly, the last six months have seen the strongest job gains over a six-month period in eight years." Canadian jobs data also comes out on Friday. The Canadian economy created 42,000 jobs in July. That was a revised number as Statistics Canada said a reporting glitch was behind its original report that only 200 jobs had been created that month. Porter said he isn't expecting much for August as "we have had this updown pattern in Canadian employment for the past eight months and it's the turn for down this time." "We're pencilling in a small gain just because we do believe the underlying trend is erratically higher and I can't think of any major special factors during August to lead to an outright decline but the risk is there." The other major event of the week happens Wednesday when the Bank of Canada makes its scheduled announcement on interest rates.

The key rate will stay at one per cent, where it has been since September 2010. away from near zero around the middle of next year. And that's one big reason the big economic event of this week is the release of the U.S. government's employment report for August on Friday. Economists expect another month of strong job gains above the 200,000 mark.

"We're looking for a 225,000 gain," said Doug Porter, chief economist at BMO Capital Markets. But it's not just job gains the market is looking for. Fed chairwoman Janet Yellen has said she is also worried about slack in the labour market and that's why people will be digging deeper into the data, with emphasis on the participation rate, which has been in a percent MALCOLM MORRISON The Canadian Press TORONTO Stock markets could be in for some tough sledding in the near term as investors contemplate trading in a month that sports a nasty reputation. "Historically, September is the worst month of the year for stocks," said Colin Cieszynski, senior markets analyst at CMC Markets Canada. "Usually, what happens is you have a correction in MayJune, you get a rebound in July, earnings season gives it a summer boost that carries you into the first part of August, so you start to see things roll over second half of August." ANALYSIS Image counts in hot spots, study finds GARY LAMPH1ER Postmeoia News JU i J' I i l' I a' 1 i 1 in 1 Hu if I EDMONTON Doing business in politically volatile countries has always carried huge risks.

Multinationals are often targeted by extremists, terrorists, street protesters, revolutionaries and even political parties pandering to a sudden shift in public opinion. In places like Venezuela, Bolivia and Papua New Guinea there are many examples of corporate assets mainly in the resource sector being seized or even attacked and destroyed. For example, Russia recently closed half a dozen McDonald's outlets over alleged breaches of sanitation regulations. The move is likely in response to the crisis in eastern Ukraine, Reuters reported, and in particular U.S. sanctions on Russian President Vladimir Putin's associates.

The ruthless tactics of the Islamic State in Iraq and Syria (ISIS) represent a serious and growing threat to energy giants such as ExxonMobil, BP and Royal Dutch Shell, all of which have assets in southern Iraq, news services have reported. Both BP and ExxonMobil have pulled operating staff out of the region, and analysts are growing increasingly skeptical about future production growth from Iraq, which was expected to be a key source of new OPEC supply. So how should companies react when they suddenly find themselves in the punsights of terrorists, hostile governments or radical social movements? And more importantly, how can they avoid becoming targets in the first place? Jem PierceCalgary Herald From left, Shawn Wilson, co-founder and chief executive of Muzooka; Mike Lowe, founder and president of Kidoodle.TV; and, Doug Nyhoff, executive chairman of Muzooka and Kidoodle.TV. Investors have committed about $10 million to Kidoodle and $3.5 million for Muzooka. Texan champions tech firms Businessman sees potential for diversification investment that has huge upside potential, said Kidoodle's Lowe of its fundraising campaign.

"With technology changing, we're not at a disadvantage anymore by being in Calgary and not being in Silicon Valley or not being in Los the founder and CEO of Kidoodle, to help the businesses and expand Calgary's tech community. So far. the two companies which could next target the Asian market with NyhofFs help have raised dose to S14 million from MiLwinmitPAua Kidoodle, Launched in January and available The city is full of sio million to Kidoodle and another S3.5 million for Muzooka. "The city is full of talented tech people and we hope the continued future success of Muzooka and Kidoodle.TV will create an environment in Calgary where young talent stays to work and those with money can confidently invest in them," said Nyhoff. who himself has invested in the two companies, and serves as executive chairman of both.

"Many talk of diversifying the economy in Calgary, but few act-We are trying to do our part." Now based in Dallas, Nyhoff played four years with the University of Calg3ry Dinos football team and was on the national charnpioo Vanier Cup winning teams of 1983 and 1985. "From our persfective. we really targeted peopse who had done weU in business and we carne with aa ,1 Angeles." Muzooka. founded in 2012 in San Francisco, is a social muic pLitform that connects artists, listeners and producers through a digital music catalogue. Although its bead office is in San Francisco, 10 of the 14 employees are based in Calgary here the majority of ks corporate operations take place-CEO Wilson said the company's rwwyear strategy calls for continued irrprovenents to its product, which has iiread Eried njusic artists with Grairarry-aw-ard winnirs producers and sound ersineers.

MARIO TONEGUZZI Calgary Heraio A Texas businessman with Alberta roots has returned home to help two Calgary technokigy companies keen on international expansion. LethbridiX native Doug Nyhoff a graduate of the University of Calgary, said he believes Muzooka and KidoodJe-TV an chaCerenng traditional industry operations and attitudes in Los AmreleMhe heart of music and media entertainment. It's why he's mxtirs irkh Shavm Wilson. co-C xHxier and chief exec-Btrve of Morooka. and Mike Iwe, in Canada and the tulcntCll United States, is 1 a subscription- based video on- DOUG NYHOfT demand service for children 12 and under that available for Macs and PCs and for irhones, iPads and Android devices, ft eropkvs out a peorle and by year end is hoping to have more than 200.000 subscribers.

Im esttrs have coRrrrjited abota ttV P30S, -s The nit Ness tactics of tSIS represent growwg threat to energy giants such as txjonMobS, EP and Roal Dutch SheO. 1 1.