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Making sense of the markets this week: May 22 May 20th
Million Dollar Journey editor and Canadian Financial Summit founder Kyle Prevost shares financial headlines and offers context for Canadian investors.
All that glitters is not Crypto
“It’s going to replace the world’s currency for day-to-day transactions.” they said.
“The fees are.... More »
Dow jumps 500 points on optimism over China, U.S. trade talk Mar 26th
North American stock markets jumped higher in early morning trading on Monday following Friday's steep losses as reports suggested the United States and China were willing to negotiate tariffs and trade imbalances to avert a trade war..... More »
Canadian home sales gain ground in September, but down from year ago mark + MORE Oct 14th
OTTAWA _ The number of homes sold in September climbed for the second month in a row after a slowdown earlier this year that was led by a cooling in the Toronto market.
Canadian Real Estate Association said Friday sales through its Multiple Listing Service in September were up 2.1 per cent compared .... More »
Toronto stock index advances on energy as the price of oil nears US$50 + MORE Aug 2nd
Canada’s main stock index advanced Wednesday, led primarily by gains from oil and gas producers as the price of crude edged back closer to the US$50 mark.
The S&P/TSX composite index was up by 63.53 points to 15,265.63, with the energy sector among key advancers.
The September crude oil c.... More »
How to know if a secondary suite or basement apartment is legal—and a worthwhile investment + MORE Sep 30th
If you’re buying a property right now, chances are you’ve come across more than a few homes that advertise income potential—thanks to a secondary suite or basement apartment.
Beyond the practical reasons for wanting a secondary suite, such as having a senior-age parent move in, two-un.... More »
Asian stocks higher after Wall Street gain, diplomatic efforts over Ukraine
– canadianbusiness.com
BEIJING, China – Asian stocks were mostly higher Tuesday after U.S. markets rose on news of diplomatic efforts to broker a cease-fire in Ukraine.
KEEPING SCORE: Tokyo’s Nikkei 225 index rose 0.9 per cent to 15,465.61, Hong Kong’s Hang Seng was up 0.2 per cent at 25,002.34 and Seoul’s Kospi added 0.7 per cent to 2,066.89. China’s Shanghai Composite Index was the only decliner, shedding 0.1 per cent to 2,237.34. Sydney, Taipei and Singapore all rose.
UKRAINE: Russian Foreign Minister Sergey Lavrov said issues related to sending a humanitarian convoy to Ukraine were resolved following weekend talks in Berlin with his counterparts from Ukraine, Germany and France. Germany’s Frank-Walter Steinmeier said there was progress on “some issues,” though Lavrov said there was no movement on establishing a cease-fire between the government and pro-Russian rebels.
THE QUOTE: “Markets started the week on a firm note as investors took positively the talks between Russia and Ukraine over the weekend even though no major breakthrough was reached,” said Credit Agricole CIB in a report…
KEEPING SCORE: Tokyo’s Nikkei 225 index rose 0.9 per cent to 15,465.61, Hong Kong’s Hang Seng was up 0.2 per cent at 25,002.34 and Seoul’s Kospi added 0.7 per cent to 2,066.89. China’s Shanghai Composite Index was the only decliner, shedding 0.1 per cent to 2,237.34. Sydney, Taipei and Singapore all rose.
UKRAINE: Russian Foreign Minister Sergey Lavrov said issues related to sending a humanitarian convoy to Ukraine were resolved following weekend talks in Berlin with his counterparts from Ukraine, Germany and France. Germany’s Frank-Walter Steinmeier said there was progress on “some issues,” though Lavrov said there was no movement on establishing a cease-fire between the government and pro-Russian rebels.
THE QUOTE: “Markets started the week on a firm note as investors took positively the talks between Russia and Ukraine over the weekend even though no major breakthrough was reached,” said Credit Agricole CIB in a report…
High-fiving, energetic Steve Ballmer debuts as LA Clippers owner, vows not to move team
– canadianbusiness.com
LOS ANGELES, Calif. – Sweating, clapping and shouting until he was nearly hoarse, Steve Ballmer introduced himself to Los Angeles Clippers fans at a rally on Monday celebrating his new ownership of the NBA team.
The former Microsoft CEO made his way through the crowd inside Staples Center to Eminem’s “Lose Yourself,” exchanging high-fives and chest-bumping as he took the stage in front of 4,500 fans.
Ballmer paid a record $2 billion for the team in a sale that was confirmed by a judge last week. The name of disgraced former owner Donald Sterling, who controlled the team for 33 years before being banned for life by the NBA for racist remarks, was never uttered during the rally.
“We’re looking forward,” Ballmer proclaimed, having removed his blue Clippers hat. “Everything is about looking forward.”
Ballmer’s fervour was in stark contrast to Sterling, who never spoke to the media and was famously frugal when it came to spending on the team during decades of losing — despite having amassed a fortune through real estate…
The former Microsoft CEO made his way through the crowd inside Staples Center to Eminem’s “Lose Yourself,” exchanging high-fives and chest-bumping as he took the stage in front of 4,500 fans.
Ballmer paid a record $2 billion for the team in a sale that was confirmed by a judge last week. The name of disgraced former owner Donald Sterling, who controlled the team for 33 years before being banned for life by the NBA for racist remarks, was never uttered during the rally.
“We’re looking forward,” Ballmer proclaimed, having removed his blue Clippers hat. “Everything is about looking forward.”
Ballmer’s fervour was in stark contrast to Sterling, who never spoke to the media and was famously frugal when it came to spending on the team during decades of losing — despite having amassed a fortune through real estate…
Google parlays IPO to extend its empire far beyond Internet search during past 10 years
– canadianbusiness.com
SAN FRANCISCO – Google’s IPO, a decade ago this week, launched the company on a trajectory that continues to reshape its business and much of the world in its orbit.
And CEO Larry Page is determined to push even further.
Page’s vision is that Google’s products and services will become the control centre of people’s lives: The company’s driverless cars will chauffeur people around safer roads and deliver goods within hours of an online order. People won’t even have to bother leaving their homes, which will be made more comfortable and enjoyable through the use of smart appliances. Robots will handle tedious chores and other jobs, freeing up time for people to enjoy lives prolonged by health-management tools and disease-fighting breakthroughs engineered by Google. Internet-connected eyewear and watches will supplement the smartphones that ensure Google is a constant companion capable of anticipating questions and desires.
Google’s big bets are fueled by Page’s belief that “… incrementalism leads to irrelevance over time, especially in technology, because change tends to be revolutionary, not evolutionary,” he wrote in May in Google’s annual letter to shareholders…
And CEO Larry Page is determined to push even further.
Page’s vision is that Google’s products and services will become the control centre of people’s lives: The company’s driverless cars will chauffeur people around safer roads and deliver goods within hours of an online order. People won’t even have to bother leaving their homes, which will be made more comfortable and enjoyable through the use of smart appliances. Robots will handle tedious chores and other jobs, freeing up time for people to enjoy lives prolonged by health-management tools and disease-fighting breakthroughs engineered by Google. Internet-connected eyewear and watches will supplement the smartphones that ensure Google is a constant companion capable of anticipating questions and desires.
Google’s big bets are fueled by Page’s belief that “… incrementalism leads to irrelevance over time, especially in technology, because change tends to be revolutionary, not evolutionary,” he wrote in May in Google’s annual letter to shareholders…
True North REIT has deal to buy Edmonton office building for $24.5 million
– canadianbusiness.com
TORONTO – True North Commercial Real Estate Investment Trust (TSX:TNT.UN) has announced a dealt to buy an Edmonton office building for $24.5 million.
Toronto-based True North says the single-storey, 96,804-square-foot building at 13140 St. Albert Trail is fully occupied.
The purchase price for the deal, expected to close about mid-September, will be satisfied by a combination of about $6.1 million in cash and $18.4 million aggregate principal amount of new mortgage financing.
In order to finance the purchase, True North has agreed to a bought deal financing involving the sale of 1.6 million units at a price of $6.55 per unit for aggregate gross proceeds of some $10.6 million to a syndicate of underwriters led by Raymond James Ltd.
Proceeds not allocated to the acquisition will be used to repay a portion of the REIT’s credit facilities.
“We are very pleased to broaden our footprint in the economically robust province of Alberta via our entrance into the Edmonton market, CEO Daniel Drimmer said in a release Monday…
Toronto-based True North says the single-storey, 96,804-square-foot building at 13140 St. Albert Trail is fully occupied.
The purchase price for the deal, expected to close about mid-September, will be satisfied by a combination of about $6.1 million in cash and $18.4 million aggregate principal amount of new mortgage financing.
In order to finance the purchase, True North has agreed to a bought deal financing involving the sale of 1.6 million units at a price of $6.55 per unit for aggregate gross proceeds of some $10.6 million to a syndicate of underwriters led by Raymond James Ltd.
Proceeds not allocated to the acquisition will be used to repay a portion of the REIT’s credit facilities.
“We are very pleased to broaden our footprint in the economically robust province of Alberta via our entrance into the Edmonton market, CEO Daniel Drimmer said in a release Monday…
Ontario teachers’ pension scores big on Chinese e-commerce
– theglobeandmail.com
The Ontario Teachers’ Pension Plan’s investment is part of a growing trend that’s seen oversees asset managers scoop up stakes in Chinese e-commerce operators
