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Toronto’s deflating housing bubble, in one chart + MORE Jul 7th
(iStock)
Home sales in Canada’s largest city slowed down for the third month in a row, according to numbers released from the Toronto Real Estate Board. That came as new listings rose nearly 16 per cent, and active listings surged over the year before.
The average house price still managed to inc.... More »
Podcast 25: Dr. Steve Wendel on Investor Success Jul 9th
The latest episode of the Canadian Couch Potato podcast features an interview with Dr. Stephen Wendel, Head of Behavioural Science at Morningstar. Wendel heads up a research initiative called the Investor Success Project, which focuses on the human factors that dominate personal finance. So much dis.... More »
Smaller towns may not benefit from infrastructure bank: Morneau + MORE Nov 23rd
THE CANADIAN PRESS/Justin Tang
OTTAWA – Finance Minister Bill Morneau is suggesting that small municipalities won’t see much – if any – benefit from the federal government’s proposed new infrastructure bank.
The bank, to be launched next year, is intended to attract billions in pri.... More »
The best GIC rates in Canada for 2025 May 16th
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Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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Warner Bros. teams up with Chinese investment company to produce Chinese-language films Sep 20th
BEIJING, China – Hollywood studio Warner Bros. and a Chinese investment company said Sunday that they will jointly produce Chinese-language movies for the international market, as entertainment companies in the world’s two biggest movie markets increasingly collaborate.
Warner Bros. and .... More »
TORONTO – Major Canadian importers of olive oil, sea salt, preserved vegetables and other delicacies from Greece say they’ve been stockpiling goods in their warehouses in anticipation that the economic turmoil overseas will get worse.
The Canadian companies say the economic crisis in Greece won’t keep products off store shelves here for a while, but recent events make their preparations seem wise.
A referendum held on Sunday saw Greek citizens reject the idea of adopting more austerity measures in exchange for financial aid from the European Union. The debt-ridden country has shut banks for six working days and imposed strict limits on cash withdrawals.
Greece’s precarious financial situation may force it to abandon the euro and begin issuing its own currency.
Canadian businesses are keeping a close eye on the economic situation, but don’t immediately seem to feel their bottom lines will require much extra scrutiny.
“Business as usual for us,” said Miltiadis Antypas, President of Pilaros International Trading Inc…
The Canadian companies say the economic crisis in Greece won’t keep products off store shelves here for a while, but recent events make their preparations seem wise.
A referendum held on Sunday saw Greek citizens reject the idea of adopting more austerity measures in exchange for financial aid from the European Union. The debt-ridden country has shut banks for six working days and imposed strict limits on cash withdrawals.
Greece’s precarious financial situation may force it to abandon the euro and begin issuing its own currency.
Canadian businesses are keeping a close eye on the economic situation, but don’t immediately seem to feel their bottom lines will require much extra scrutiny.
“Business as usual for us,” said Miltiadis Antypas, President of Pilaros International Trading Inc…
Ontario debt rating downgraded by S&P; cites budgetary ‘underperformance’
– canadianbusiness.com
TORONTO – Standard & Poor’s has lowered Ontario’s financial rating to A+ from AA-, citing its heavy debt burden and budgetary “underperformance” compared with peers in other jurisdictions.
S&P said Monday that while Ontario continues to beat its fiscal targets and expects to close its operating budget gap by fiscal 2018, it will still have to contend with sizable yearly after-capital deficits given its large net capital spending plans.
The rating agency said the downgrade comes with a stable outlook, reflecting its belief that Ontario will continue to make slow progress in reducing its deficit.
Ontario Finance Minister Charles Sousa said he agreed with the S&P’s forecast that the province is on track to eliminate its deficit by 2018.
Sousa said he believes the S&P assessment views Ontario as having a strong, diversified economy despite recent slow growth.
But Progressive Conservative Leader Patrick Brown said the rating decline is proof that the government is mismanaging the economy…
S&P said Monday that while Ontario continues to beat its fiscal targets and expects to close its operating budget gap by fiscal 2018, it will still have to contend with sizable yearly after-capital deficits given its large net capital spending plans.
The rating agency said the downgrade comes with a stable outlook, reflecting its belief that Ontario will continue to make slow progress in reducing its deficit.
Ontario Finance Minister Charles Sousa said he agreed with the S&P’s forecast that the province is on track to eliminate its deficit by 2018.
Sousa said he believes the S&P assessment views Ontario as having a strong, diversified economy despite recent slow growth.
But Progressive Conservative Leader Patrick Brown said the rating decline is proof that the government is mismanaging the economy…
Auto dealership group Dilawri using REIT as vehicle for consolidation
– theglobeandmail.com
Trend is accelerating as operators of single dealerships or a few stores look for ways to sell real estate as they exit the business
Fortis sells hotel assets for $365M; follows $430M sale of commercial properties
– canadianbusiness.com
ST. JOHN’S, N.L. – Fortis Inc. (TSX:FTS) says it has signed a deal to sell the hotel assets of subsidiary Fortis Properties Corp. to a private investor group for $365 million as the company moves to focus on its core utilities business.
The transaction, involving 22 hotels in seven Canadian provinces, is expected to close in the fall.
The private investor group was not identified in a Fortis release issued after markets closed on Monday.
The sale of Fortis Properties’ commercial real estate portfolio for $430 million was completed last week.
“The disposition of these hotel and real estate assets is consistent with the corporation’s focus on its core utility business,” said president and CEO Barry Perry.
“Post closing of the hotel transaction, virtually all of the corporation’s assets will be comprised of regulated utilities and long-term contracted energy infrastructure.”
Fortis is in the North American electric and gas utility business with assets totalling some $28 billion serving more than three million customers across Canada and in the United States and the Caribbean…
The transaction, involving 22 hotels in seven Canadian provinces, is expected to close in the fall.
The private investor group was not identified in a Fortis release issued after markets closed on Monday.
The sale of Fortis Properties’ commercial real estate portfolio for $430 million was completed last week.
“The disposition of these hotel and real estate assets is consistent with the corporation’s focus on its core utility business,” said president and CEO Barry Perry.
“Post closing of the hotel transaction, virtually all of the corporation’s assets will be comprised of regulated utilities and long-term contracted energy infrastructure.”
Fortis is in the North American electric and gas utility business with assets totalling some $28 billion serving more than three million customers across Canada and in the United States and the Caribbean…
Germany refuses to let Greece off hook – Telegraph.co.uk
– news.google.ca
Telegraph.co.ukGermany refuses to let Greece off hookTelegraph.co.ukThe crisis in the eurozone was set to escalate on Monday night after the Germans said they could not write off Greek debts without offering financial assistance to Ireland, Spain and Portugal. George Osborne, the Chancellor, on Monday urged Angela …Germany, France press Greece to make fast, credible proposalsReuters CanadaMerkel faces toughest test yet with so much still at stakeIrish TimesAngela Merkel Faces Monumental Test of Leadership After Greek VoteNew York TimesThe Australian -ABC Online -Wall Street Journalall 630 news articles »
