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Latest News
Money Matters: What advice would you give someone who wants to start building wealth? + MORE Oct 12th
In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our seventh video of the series, we asked: What advice would you give someone who wants to start building wealth? Listen to what some of our partne.... More »
TSX to open lower amid major oilpatch buy; traders look to U.S. housing data + MORE Feb 19th
TORONTO – The Toronto stock market looked set to open lower amid earnings news and acquisition activity in the Western Canadian oilpatch.
The Canadian dollar edged up 0.05 of a cent to 91.37 cents US.
New York futures were also lower as traders looked to see how severe winter weather impacted .... More »
Sun Life to buy real estate investment manager Bentall Kennedy Jun 16th
Toronto-based insurer reaches $560-million deal
.... More »
RESPs 101: The RESP withdrawal rules + MORE Aug 16th
With a new school year here and academic fees due soon, you might be budgeting for the next eight months and planning a withdrawal from your registered education savings plan (RESP). While an RESP is the best way to save for just about any post-secondary education—more on that shortly—there are .... More »
Weekend Readings + MORE Mar 21st
You might have heard about data-driven journalism? Nate Silver is probably the best known example and I’m loving what him and his team have going at FiveThirtEight so far! It has its critics of course but that’s generally a good sign. You an read more about it here.
General Readings
-The.... More »
Insider-trading trial of billionaire and Dallas Mavericks owner Mark Cuban nears final buzzer
– canadianbusiness.com
DALLAS – The government’s insider-trading case against billionaire and Dallas Mavericks owner Mark Cuban is heading toward the final buzzer.
After six days of testimony, closing arguments are expected Tuesday afternoon in federal court in Dallas.
The Securities and Exchange Commission sued Cuban, claiming that he avoided $750,000 in losses by selling his 6 per cent stake in a Canadian search engine company called Mamma.com Inc. after the CEO told him about a planned stock offering. The sale would have cut the value of his shares. The CEO, Guy Faure, said that Cuban agreed to confidentiality on a phone call in 2004, then, when told of the stock deal, angrily said, “Now I’m screwed. I can’t sell.” Cuban disputes Faure’s account.
The verdict could come down to whether jurors believe Cuban or the company’s CEO, a Canadian citizen who declined to come to Dallas. His testimony had been recorded on video and shown to the jury. Jurors also heard from bankers, stockbrokers and professors…
After six days of testimony, closing arguments are expected Tuesday afternoon in federal court in Dallas.
The Securities and Exchange Commission sued Cuban, claiming that he avoided $750,000 in losses by selling his 6 per cent stake in a Canadian search engine company called Mamma.com Inc. after the CEO told him about a planned stock offering. The sale would have cut the value of his shares. The CEO, Guy Faure, said that Cuban agreed to confidentiality on a phone call in 2004, then, when told of the stock deal, angrily said, “Now I’m screwed. I can’t sell.” Cuban disputes Faure’s account.
The verdict could come down to whether jurors believe Cuban or the company’s CEO, a Canadian citizen who declined to come to Dallas. His testimony had been recorded on video and shown to the jury. Jurors also heard from bankers, stockbrokers and professors…
Business Highlights
– canadianbusiness.com
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As US default nears, investors shrug off threat
NEW YORK (AP) — Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the economy would slide into a recession worse than the last.
Yet you wouldn’t know that a U.S. debt default could amount to a nightmare from the way many companies and investors are preparing for it: They aren’t. The assumption seems to be that in the end, Washington will find a way to avert a default.
Brian Doe, a wealth adviser at Gratus Capital Management in Atlanta, has 35 clients who’ve entrusted him with $50 million for safekeeping. He isn’t losing sleep over a potential default. Neither are his clients, apparently. Not one has called him about the issue, he said.
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3 US economists win Nobel for work on asset prices
Ordinary investors don’t stand much chance of beating the market. It moves way too fast and efficiently. Or it behaves in ways that make no sense at all…
As US default nears, investors shrug off threat
NEW YORK (AP) — Warren Buffett likens it to a nuclear attack. Economists warn that government spending on programs like Social Security would plunge. The Treasury says the economy would slide into a recession worse than the last.
Yet you wouldn’t know that a U.S. debt default could amount to a nightmare from the way many companies and investors are preparing for it: They aren’t. The assumption seems to be that in the end, Washington will find a way to avert a default.
Brian Doe, a wealth adviser at Gratus Capital Management in Atlanta, has 35 clients who’ve entrusted him with $50 million for safekeeping. He isn’t losing sleep over a potential default. Neither are his clients, apparently. Not one has called him about the issue, he said.
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3 US economists win Nobel for work on asset prices
Ordinary investors don’t stand much chance of beating the market. It moves way too fast and efficiently. Or it behaves in ways that make no sense at all…
BlackBerry launches major ad campaign to reassure its dwindling customers
– canadianbusiness.com
TORONTO – BlackBerry is publishing an open letter in major publications around the world in a bid to reassure customers that they can count on the distressed smartphone company.
The letter was released Monday on Twitter and will be published in 30 publications in 9 countries Tuesday. It acknowledges “these are no doubt challenging times for us and we don’t underestimate the situation” but says “you can continue to count on BlackBerry.” The missive notes that BlackBerry has substantial cash and is debt free but makes no mention of the fact that the company is for sale and could be broken up and sold in pieces.
BlackBerry announced last month that Fairfax Financial Holdings, which owns 10 per cent of the company, signed a letter of intent that “contemplates” buying BlackBerry for $9 a share, or $4.7 billion. Fairfax, BlackBerry’s largest shareholder, is trying to attract other investors.
The stock is trading well below Fairfax’s tentative offer on fears that the deal won’t go through or that the final price will be lower…
The letter was released Monday on Twitter and will be published in 30 publications in 9 countries Tuesday. It acknowledges “these are no doubt challenging times for us and we don’t underestimate the situation” but says “you can continue to count on BlackBerry.” The missive notes that BlackBerry has substantial cash and is debt free but makes no mention of the fact that the company is for sale and could be broken up and sold in pieces.
BlackBerry announced last month that Fairfax Financial Holdings, which owns 10 per cent of the company, signed a letter of intent that “contemplates” buying BlackBerry for $9 a share, or $4.7 billion. Fairfax, BlackBerry’s largest shareholder, is trying to attract other investors.
The stock is trading well below Fairfax’s tentative offer on fears that the deal won’t go through or that the final price will be lower…
David Henderson: A Nobel for the Random Walk of Stock Prices
– online.wsj.com
The latest winners of the economics prize taught us about market efficiency in pricing assets.
UK police arrest man with knife outside palace – Boston.com
– news.google.ca
Scottish Daily RecordUK police arrest man with knife outside palaceBoston.com(FILE PHOTO) The British government has announced that it plans to go ahead with Getty Images (FILE PHOTO) The British government has announced that it plans to go ahead with the stock market flotation of Royal Mail in the coming weeks. LONDON …Police charge man after Buckingham Palace arrestReuters UKMan held for Buckingham Palace knife entry attemptScotsmanMan arrested at Buckingham Palace gatesChannel 4 NewsNew York Daily Newsall 161 news articles »
