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Weekend Reading – Money tips, mortgage freedom and more + MORE May 17th
Welcome to your Weekend Reading list where I share some of my favourite articles from the week that was…even if this edition is a little later than usual.
Enjoy the rest of the May long weekend.
Money We Have has some great money tips.
Retire Happy shared some money tips.
Mr. CBB was mortgage .... More »
Proposing amendments isn’t Senate activism. It’s the Senate’s job. + MORE Jun 20th
(Sean Kilpatrick/CP)
In case you haven’t heard, we are in the midst of an alleged constitutional crisis. The Senate, we are told, is running amok, its power-hungry appointed occupants having the gall to review government legislation and even occasionally—be prepared to gasp here—propose amendm.... More »
Stock Bull Run Powers Ahead as US Economy Roars: Markets Wrap - Yahoo Finance + MORE Feb 2nd
Stock Bull Run Powers Ahead as US Economy Roars: Markets Wrap Yahoo FinanceStock market today: S&P 500 hits record high after jobs report, tech earnings thrill investors Yahoo FinanceBull Market in Stocks Powers Even as the Big-Tech Trade Splinters BloombergScorc.... More »
Agree or Disagree – Testing 15 Financial Rules + MORE Aug 18th
Recently, this article on BrighterLife.ca caught my attention – 15 common financial rules of thumb. Author of this article Dave Dineen offered his take on these rules, and today’s post will offer mine.
Your retirement income needs to be 70% of your working income.
Largely agree, this is one .... More »
US rule banning banks from trading for their own profit set to be approved by US regulators + MORE Dec 10th
WASHINGTON – U.S. banks will be barred in most cases from trading for their own profit under a federal rule set to be approved Tuesday.
Five U.S. regulatory agencies are voting on the so-called Volcker Rule, a major step toward preventing extreme risk-taking on Wall Street that helped trigger .... More »
BlackBerry patents key to raising buyout debt
– thestar.com
The company’s patents, licenses and a secure network may be valued at about $2.8 billion, according to a report this week by Raymond James Financial Inc.Doubts about Fairfax buyout hit BlackBerry's stock
– theglobeandmail.com
Share price sinks 6% as investors question Fairfax’s ability to raise enough money to make the $4.7-billion deal happen
Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages
– canadianbusiness.com
WASHINGTON – Citigroup Inc. has agreed to pay $395 million to Freddie Mac to settle claims on home loans it sold to the government-controlled mortgage finance company.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
Canada's soaring real estate market: Feel good now, pay later
– theglobeandmail.com
Canadians are too fixated on the idea that rising prices are an indicator of prosperity and success. The housing boom has also created serious financial disruptions that we ignore at our peril
TransForce makes unsolicited takeover offer for Vitran; bids US$4.50 per share
– canadianbusiness.com
MONTREAL – TransForce Inc. (TSX:TFI) has made an unsolicited takeover bid for fellow trucking company Vitran (TSX:VTN), offering US$4.50 in cash for all outstanding shares it doesn’t already own.
TransForce, which currently holds 9.51 per cent of Vitran’s more than 16.4 million shares, said the proposal was contained in a letter sent to the chairman of Vitran’s board.
“TransForce made the proposal with the objective of entering into negotiations with Vitran’s board and obtaining its support,” the company said in a news release after markets closed.
Vitran stock closed at C$4.85 Wednesday on the Toronto Stock Exchange, up 40 cents or almost nine per cent. The stock was up 16 cents, or 3.5 per cent, at US$4.72 on the Nasdaq, well above the TransForce bid.
Among other things, TransForce said the proposal is conditional upon completion of the sale by Toronto-based Vitran of its U.S. less than truckload business, a deal announced earlier this week.
TransForce said Vitran would remain a stand-alone business within the TransForce group of companies and that it was “very keen that the existing management team remain with Vitran going forward to continue to execute their business plan…
TransForce, which currently holds 9.51 per cent of Vitran’s more than 16.4 million shares, said the proposal was contained in a letter sent to the chairman of Vitran’s board.
“TransForce made the proposal with the objective of entering into negotiations with Vitran’s board and obtaining its support,” the company said in a news release after markets closed.
Vitran stock closed at C$4.85 Wednesday on the Toronto Stock Exchange, up 40 cents or almost nine per cent. The stock was up 16 cents, or 3.5 per cent, at US$4.72 on the Nasdaq, well above the TransForce bid.
Among other things, TransForce said the proposal is conditional upon completion of the sale by Toronto-based Vitran of its U.S. less than truckload business, a deal announced earlier this week.
TransForce said Vitran would remain a stand-alone business within the TransForce group of companies and that it was “very keen that the existing management team remain with Vitran going forward to continue to execute their business plan…
