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This high-flying stock is a benchmark for the spread of AI + MORE Jan 10th
Strong growth in AI and video games has formed a significant tailwind for Nvidia profits and stock-price performance has been remarkable
.... More »
Real estate brokers ready to unleash secretive home sales data to public + MORE May 9th
The era of real estate agents guarding coveted sales data may be coming to an end, at least in Toronto. That’s what some brokers predict, and in anticipation they’re readying to release online once-protected industry information — namely, the actual selling price of homes..... More »
Asian stocks mostly lower on weak Chinese housing data; Tokyo rises on strong machinery orders + MORE May 19th
BEIJING, China – Asian stock markets were mostly lower Monday after China reported a weak increase in housing prices.
Oil gained to stay above $102 a barrel after rising last week on concern about tensions in Ukraine.
China’s Shanghai Composite Index fell 1 per cent to 2,006.21 after a w.... More »
The case for buying a pre-construction home Feb 16th
My wife and I bid on, and lost, nine houses before we got our 10th. I remember the day in March 2016 when the listing popped up on Realtor.ca, the online directory of homes for sale, which had become one of the “frequently visited” websites on our computer. The house ticked off all the boxes, an.... More »
How to have the most tax-efficient retirement income plan Mar 22nd
Ask MoneySense
I am 59 years old, semi-retired and live in Ontario. I have $302,000 in my non-registered investment account (mostly Canadian equities), $133,000 in my TFSA (in equities), and $287,000 in my RRSP (in equities). I have three non-registered GICs, in 1-, 2- and 3-year terms, all earning .... More »
Most actively traded companies on the TSX, TSX Venture Exchange
– canadianbusiness.com
TORONTO – Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (14,533.57 down 20.68 points):
Aurora Oil & Gas Ltd. (TSX:AEF). Oil and gas. Up one cent, or 0.24 per cent, to $4.18 on eight million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up six cents, or 0.1.49 per cent, to $4.09 on 5.8 million shares.
Manulife Financial Corp. (TSX:MFC). Insurance. Down 32 cents, or 1.54 per cent, to $20.43 on 4.4 million shares.
Potash Corporation of Saskatchewan Inc. (TSX:POT). Agriculture. Up 40 cents, or 1.03 per cent, to $39.42 on 4.4 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up four cents, or 0.48 per cent, to $8.38 on 4.3 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Up 49 cents, or 2.55 per cent, to $19.74 on 3.6 million shares.
Toronto Venture Exchange (1,013.59 down 0.86 of a point):
Falcon Oil & Gas Ltd. (TSXV:FO). Oil and gas. Down 3.5 cents, or 19.44 per cent, to 14.5 cents on 10…
Toronto Stock Exchange (14,533.57 down 20.68 points):
Aurora Oil & Gas Ltd. (TSX:AEF). Oil and gas. Up one cent, or 0.24 per cent, to $4.18 on eight million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up six cents, or 0.1.49 per cent, to $4.09 on 5.8 million shares.
Manulife Financial Corp. (TSX:MFC). Insurance. Down 32 cents, or 1.54 per cent, to $20.43 on 4.4 million shares.
Potash Corporation of Saskatchewan Inc. (TSX:POT). Agriculture. Up 40 cents, or 1.03 per cent, to $39.42 on 4.4 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up four cents, or 0.48 per cent, to $8.38 on 4.3 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Up 49 cents, or 2.55 per cent, to $19.74 on 3.6 million shares.
Toronto Venture Exchange (1,013.59 down 0.86 of a point):
Falcon Oil & Gas Ltd. (TSXV:FO). Oil and gas. Down 3.5 cents, or 19.44 per cent, to 14.5 cents on 10…
Federal regulators take over small bank in South Carolina; Makes 6th US bank failure of 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in South Carolina, marking the sixth U.S. bank failure of 2014 after 24 closures last year.
The Federal Deposit Insurance Corp. said Friday that it has taken Allendale County Bank, based in Fairfax, S.C.
The lender, which operated five branches, had about $54.5 million in assets and $51 million in deposits as of Dec. 31.
Palmetto State Bank, based in Hampton, S.C., agreed to assume Allendale’s deposits and to buy essentially all of the failed lender’s assets.
Allendale County Bank’s failure is expected to cost the deposit insurance fund $17.1 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
The Federal Deposit Insurance Corp. said Friday that it has taken Allendale County Bank, based in Fairfax, S.C.
The lender, which operated five branches, had about $54.5 million in assets and $51 million in deposits as of Dec. 31.
Palmetto State Bank, based in Hampton, S.C., agreed to assume Allendale’s deposits and to buy essentially all of the failed lender’s assets.
Allendale County Bank’s failure is expected to cost the deposit insurance fund $17.1 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
CMHC again moves to tighten mortgage insurance rules as housing market cools
– canadianbusiness.com
OTTAWA – CMHC is moving yet again to tighten the home mortgage market with changes that would make it more difficult for certain Canadians to obtain government-secured financing for real estate purchases.
The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.
Self-employed Canadians can still qualify for CMHC insurance, but must be able to provide proof of their income levels, the agency said.
It estimated the changes would effect less than three per cent of the units it insures. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market, the agency added.
The changes are part of the agency’s continuing review of its products and core mandate to support stability in the housing market, CMHC said in a statement.
“As part of the review of its mortgage loan insurance business, CMHC is evaluating its products and services to ensure they are aligned with these objectives,” Steven Mennill, senior vice-president of insurance, said in a statement…
The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.
Self-employed Canadians can still qualify for CMHC insurance, but must be able to provide proof of their income levels, the agency said.
It estimated the changes would effect less than three per cent of the units it insures. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market, the agency added.
The changes are part of the agency’s continuing review of its products and core mandate to support stability in the housing market, CMHC said in a statement.
“As part of the review of its mortgage loan insurance business, CMHC is evaluating its products and services to ensure they are aligned with these objectives,” Steven Mennill, senior vice-president of insurance, said in a statement…
Pension fund manager AIMCo begins search to replace CEO Leo de Bever
– canadianbusiness.com
EDMONTON – Pension fund manager AIMCo says it has started looking for a replacement for CEO Leo de Bever.
In a statement issued Friday, the Alberta Investment Management Corp., said it has begun a search process to “ensure a new leader is in place to guide the organization into the next phase of its evolution.”
De Bever will remain as chief executive officer until the search is completed.
“A critical part of the CEO’s job is to effectively pass the torch to the next generation of leadership. I am confident that AIMCo is very well positioned for continued success,” said de Bever, who is expected to be on the boards of a number of portfolio companies and advise AIMCo on a number of issues.
AIMCo, is one of Canada’s largest and most diversified institutional investment managers, investing behalf of 27 pension, endowment and government funds Alberta, including the Alberta Heritage Savings Trust Fund.
The post Pension fund manager AIMCo begins search to replace CEO Leo de Bever appeared first on Canadian Business.
In a statement issued Friday, the Alberta Investment Management Corp., said it has begun a search process to “ensure a new leader is in place to guide the organization into the next phase of its evolution.”
De Bever will remain as chief executive officer until the search is completed.
“A critical part of the CEO’s job is to effectively pass the torch to the next generation of leadership. I am confident that AIMCo is very well positioned for continued success,” said de Bever, who is expected to be on the boards of a number of portfolio companies and advise AIMCo on a number of issues.
AIMCo, is one of Canada’s largest and most diversified institutional investment managers, investing behalf of 27 pension, endowment and government funds Alberta, including the Alberta Heritage Savings Trust Fund.
The post Pension fund manager AIMCo begins search to replace CEO Leo de Bever appeared first on Canadian Business.
Business Highlights
– canadianbusiness.com
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Russia’s Lavrov: West plotting to control Ukraine
Russia’s economy felt the sting of the Ukrainian crisis Friday after Standard & Poor’s cut its credit rating to near junk and Moscow hiked interest rates to keep its sliding ruble from fueling inflation.
The impact could get harder as the West threatens additional sanctions. Still, Russia is showing no signs of backing down, saying Friday that pro-Russian insurgents in Ukraine’s southeast will lay down their arms only if the Ukrainian government clears out nationalist protesters in Kyiv.
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A fading middle-class perk: lower mortgage rates
WASHINGTON (AP) — For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.
Rates for a conventional 30-year fixed mortgage are averaging 4.48 per cent, according to Bankrate…
Russia’s Lavrov: West plotting to control Ukraine
Russia’s economy felt the sting of the Ukrainian crisis Friday after Standard & Poor’s cut its credit rating to near junk and Moscow hiked interest rates to keep its sliding ruble from fueling inflation.
The impact could get harder as the West threatens additional sanctions. Still, Russia is showing no signs of backing down, saying Friday that pro-Russian insurgents in Ukraine’s southeast will lay down their arms only if the Ukrainian government clears out nationalist protesters in Kyiv.
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A fading middle-class perk: lower mortgage rates
WASHINGTON (AP) — For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.
Rates for a conventional 30-year fixed mortgage are averaging 4.48 per cent, according to Bankrate…
