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Consumer watchdog agency asks court to reconsider ruling + MORE Nov 18th
WASHINGTON – The government’s consumer finance watchdog is asking a federal appeals court to reconsider its ruling that said the agency’s structure is unconstitutional.
The Consumer Financial Protection Bureau on Friday called the 2-1 ruling last month “dramatic and unprecede.... More »
Looking for a mortgage in B.C.? Don’t limit your options to the big banks Aug 9th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
Invest in Trump? There’s an ETF for that + MORE Sep 18th
A Texas financial firm is betting GOP supporters will put their money where their politics are (Jim Young/Reuters)
It’s a truism to say that we are in hyper-partisan times, the United States in particular. From our bumper stickers to our news sources, we can choose to live in a way that refl.... More »
Change Brexit course or face 'total surrender,' Boris Johnson warns - CBC.ca Nov 11th
CBC.caChange Brexit course or face 'total surrender,' Boris Johnson warnsCBC.caFormer U.K. foreign minister says Brexit talks are 'the biggest failure of U.K. statecraft since Suez' crisis. Thomson Reuters · Posted: Nov 11, 2018 6:09 PM ET | Last Updated: November 11. Boris John.... More »
These two charts suggest bank stock rally has plenty of life yet + MORE Dec 20th
Price-to-book value has been an excellent predictor of future bank-stock performance
.... More »
Chinese official warns of grim global economic outlook
– canadianbusiness.com
SHANGHAI – China’s commerce minister said Saturday the outlook for the global economy remains grim despite its gradual recovery from the impact of the financial crisis.
Commerce Minister Gao Hucheng’s comments underscored growing concerns about the global economy, which have deepened since the U.K. voted to leave the European Union, raising fears of a global recession.
“In the past few years through our shared hard work, the global economy emerged from its previous low and is developing in a good direction,” Gao said. But at the same time, “the deep effects of the global financial crisis can still be felt.”
Gao did not mention Brexit in his opening remarks at a meeting of trade ministers in Shanghai on Saturday held in the run-up to China’s hosting of the G20 summit later this year. He said governments should work together to find ways to revitalize growth.
“The revival and growth of the global economy is still lacking in strength,” Gao said…
Commerce Minister Gao Hucheng’s comments underscored growing concerns about the global economy, which have deepened since the U.K. voted to leave the European Union, raising fears of a global recession.
“In the past few years through our shared hard work, the global economy emerged from its previous low and is developing in a good direction,” Gao said. But at the same time, “the deep effects of the global financial crisis can still be felt.”
Gao did not mention Brexit in his opening remarks at a meeting of trade ministers in Shanghai on Saturday held in the run-up to China’s hosting of the G20 summit later this year. He said governments should work together to find ways to revitalize growth.
“The revival and growth of the global economy is still lacking in strength,” Gao said…
From the contract situation involving Canada Post and its letter carriers to what became of the Liberal pledge to ease RRSP rules for homebuyers, it was a busy week in business news. Jacqueline Hansen is here to get you caught up in her weekly video recap.
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,259.84, up 125.38 points):
Kinross Gold Corp. (TSX:K). Miner. Up 21 cents, or 2.99 per cent, to $7.23 on 9.2 million shares.
Thompson Creek Metals Company Inc. (TSX:TCM). Miner. Up one cent, or 1.41 per cent, to 72 cents on 8.7 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up 34 cents, or 4.62 per cent, to $7.70 on 7.2 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up 24 cents, or 6.58 per cent, to $3.89 on 6.5 million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up six cents, or 0.83 per cent, to $7.28 on 5.8 million shares.
Mitel Networks Corp. (TSX:MNW). Communication equipment. Up $1.54, or 19.67 per cent, to $9.37 on 5.2 million shares. A friendly Canadian takeover of California-based Polycom has been called off on amicable terms after Mitel Corp. decided it wouldn’t match a rival offer. The two companies say Ottawa-based Mitel will receive a US$60 million termination fee from Polycom under an agreement announced in April, valued at the time at US$1…
Toronto Stock Exchange (14,259.84, up 125.38 points):
Kinross Gold Corp. (TSX:K). Miner. Up 21 cents, or 2.99 per cent, to $7.23 on 9.2 million shares.
Thompson Creek Metals Company Inc. (TSX:TCM). Miner. Up one cent, or 1.41 per cent, to 72 cents on 8.7 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up 34 cents, or 4.62 per cent, to $7.70 on 7.2 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up 24 cents, or 6.58 per cent, to $3.89 on 6.5 million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up six cents, or 0.83 per cent, to $7.28 on 5.8 million shares.
Mitel Networks Corp. (TSX:MNW). Communication equipment. Up $1.54, or 19.67 per cent, to $9.37 on 5.2 million shares. A friendly Canadian takeover of California-based Polycom has been called off on amicable terms after Mitel Corp. decided it wouldn’t match a rival offer. The two companies say Ottawa-based Mitel will receive a US$60 million termination fee from Polycom under an agreement announced in April, valued at the time at US$1…
Uruguay wins dispute with tobacco giant Philip Morris
– canadianbusiness.com
MONTEVIDEO, Uruguay – Tobacco giant Philip Morris has lost an international dispute surrounding the sale of cigarettes in Uruguay and must continue to cover packs sold in the South American country with graphic warning labels and restrict its branding practices, President Tabare Vazquez announced Friday.
In a televised address, Vazquez said the International Center for Settlement of Investment Disputes rejected a challenge by Philip Morris to his government’s strict anti-smoking policies, calling it a victory for efforts to protect public health and his country’s national sovereignty.
“The health measures that we have imposed to control tobacco and protect the health of our people have been recognized as legitimate and adopted as a sovereign function of our republic,” said Vazquez, an oncologist who had spearheaded the anti-smoking campaign.
Philip Morris International had challenged Uruguay’s requirement that graphic warning labels cover 80 per cent of the front and back of cigarette packages and that each brand only have a single product presentation…
In a televised address, Vazquez said the International Center for Settlement of Investment Disputes rejected a challenge by Philip Morris to his government’s strict anti-smoking policies, calling it a victory for efforts to protect public health and his country’s national sovereignty.
“The health measures that we have imposed to control tobacco and protect the health of our people have been recognized as legitimate and adopted as a sovereign function of our republic,” said Vazquez, an oncologist who had spearheaded the anti-smoking campaign.
Philip Morris International had challenged Uruguay’s requirement that graphic warning labels cover 80 per cent of the front and back of cigarette packages and that each brand only have a single product presentation…
US Treasury secretary headed to Europe for finance talks
– canadianbusiness.com
WASHINGTON – The U.S. Treasury Department says Secretary Jacob Lew will meet with officials in London, Paris, Berlin and Brussels next week to discuss ways to promote “economic stability and shared economic growth” in the wake of the vote in Britain to leave the European Union.
Treasury said that Lew would meet with finance ministers as well as business leaders and financial market participants in each of the cities he visits starting on Monday.
President Barack Obama had urged British voters to reject a move to leave the EU but after the June 23 vote, administration officials have stressed that they will work with both the EU and Britain with a goal of keeping the exit move from derailing global economic growth.
The post US Treasury secretary headed to Europe for finance talks appeared first on Canadian Business – Your Source For Business News.
Treasury said that Lew would meet with finance ministers as well as business leaders and financial market participants in each of the cities he visits starting on Monday.
President Barack Obama had urged British voters to reject a move to leave the EU but after the June 23 vote, administration officials have stressed that they will work with both the EU and Britain with a goal of keeping the exit move from derailing global economic growth.
The post US Treasury secretary headed to Europe for finance talks appeared first on Canadian Business – Your Source For Business News.
