Turkish markets hit by Moody’s rating downgrade + MORE Sep 26th

Are we keeping the treasury of the people of China parked in Vancouver real estate and harbouring those responsible?

The Globe and MailUnifor picks Fiat Chrysler as next company for auto talksbnn.caCan't get enough Swiss Chalet sauce? Lay's to make more of its limited-edition chip · Irving Oil says New Brunswick maintenance project to employ 2,400 · Element Financial shareholders vote to approve split of company into two · Wells Fargo CEO …More auto talks start today between Unifor and Fiat-ChryslerCTV NewsGM workers ratify contractSt. Catharines StandardUnifor members ratify new contract with General Motorsdurhamregion.comBlackburnNews.com -World Socialist Web Site -The Globe and Mailall 39 news articles »

NEW YORK, N.Y. – Chemtura’s stock is up more than 17 per cent in premarket trading after the specialty chemicals company agreed to a $2.5 billion acquisition offer from Germany’s Lanxess.
Chemtura shareholders will receive $33.50 per share in cash for each share they own. That’s about a 19 per cent premium to the Philadelphia company’s Friday closing price of $28.18.
The announcement of the transaction late Sunday comes after a yearlong quest to generate shareholder value, Chemtura Chairman and CEO Craig Rogerson said in a written statement.
Lanxess Chairman and CEO Matthias Zachert said that the acquisition diversifies its business by adding Chemtura’s urethane, organometallics and additives units.
The boards of both companies approved the deal, which is targeted to close around the middle of next year.
Chemtura Corp. is based in Middlebury, Connecticut.
The post Chemtura rises in premarket on $2.5B buyout offer appeared first on Canadian Business – Your Source For Business News.

I recently got a Facebook message from a reader who was in a bit of a pickle about how to purchase a place in lower mainland, B.C. using the equity from a home she owned in southern Mexico. She asks: 
I own a home in southern Mexico with no mortgage and no outstanding debt. Now, I’d like to take the equity from this home and use it to buy a place in British Columbia. I am a Canadian citizen and, up until now, I’ve been renting a place during the months that I live in Canada. Now, with a few grandchildren around, I want to have a more permanent place in my home country. What do I need to know to make this happen?
My response was to channel my inner Mark Twain: “Buy land, my son. They’re not making any more of it.” Now, I’m sure Twain never envisioned the density of contemporary cities when he first uttered these words. Still, he certainly appreciated how finite land was, and is, as a resource. He isn’t alone. Many people consider property an integral part of their financial plan…

LONDON – Turkey’s stock markets and currency have fallen sharply after the country’s credit rating was downgraded into junk status by Moody’s.
The Istanbul 100 stock index is down 3.9 per cent at 76,610 points Monday while the Turkish lira has also taken a hit. The dollar is up 0.7 per cent at 2.9874 lira.
The selling is largely due to Moody’s statement after the market close on Friday that it was cutting its rating on Turkish debt to Ba1 from Baa3. That pushes Turkey’s rating below investment grade, meaning it will likely cost the government more to borrow on capital markets.
Moody’s voiced a number of concerns, including the country’s “sizeable external funding requirements” and the growth outlook.
Turkey’s economy has recently faced a series of shocks, including an attempted coup in July.
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