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Latest News
5 New Jumbo Reverse Mortgage Options For 2020 Oct 4th
So you want to know about new jumbo reverse mortgage options for this year, right? Okay, for your honor we will be discussing here the top new 5 versions of jumbo. But before going through those versions, you had better know as a loan what Jumbo is.
Well, a jumbo mortgage is one sort of financing. .... More »
Egypt’s central bank weakens the pound at an auction, second devaluation this week + MORE Oct 18th
CAIRO – Egypt’s central bank says it has weakened the value of the Egyptian pound against the dollar, its second devaluation this week.
The bank said in a statement that it weakened the pound at an auction on Sunday, dropping the value from 7.83 to 7.93 pounds per dollar.
The central ban.... More »
Ground rules for adult children returning home + MORE Feb 2nd
TORONTO — Certified financial planner Rona Birenbaum says it’s becoming common for her to walk clients through the emotionally fraught terrain of providing financial support to adult children returning home.
The Toronto-based founder of Caring for Clients attributes the growing phenomenon t.... More »
The unseen history of ‘white trash’ + MORE Jun 18th
WHITE TRASH
By Nancy Isenberg
One of the central factors in American history has always been one of the least mentioned: class. Even in purely economic terms, early colonial settlement was bedevilled by the question of labour: where to get the workforce to perform the brutal task of turning North A.... More »
How it works: Capital gains tax on the sale of a property + MORE May 3rd
Capital gains. Even the mention of these two words together can immediately conjure myths about owing the government 50% of the money earned from selling a home. But, like most rumours, it’s only half true—for now. You may have also heard that Budget 2024, the Canadian federal government introdu.... More »
Sleep Country public offering expected to raise more than $300 million
– canadianbusiness.com
TORONTO – Sleep Country Canada Holdings expects to generate more than $300 million in gross proceeds from the company’s return to public markets.
Canada’s largest mattress retailer said Friday that it will issue 17.65 million shares at a price of $17 per share.
The offering is made through a syndicate of underwriters led by TD Securities and BMO Nesbitt Burns.
An over-allotment of 2.6 million shares could raise an additional $45 million.
Existing shareholders, including management, will own 53 per cent of the company, however their stake could slip to 46 per cent if the over-allotment is exercised in full.
The offering is expected to close July 16 when Sleep Country’s shares will begin to trade under the symbol (TSX:ZZZ).
Sleep Country owns and operates 215 stores across Canada under its own name and the Dormez-Vous? banner.
It was listed on the Toronto Stock Exchange as an income trust from 2003 to 2008, when it was bought out for $356 million by Birch Hill Equity Partners and Westerkirk Capital…
Canada’s largest mattress retailer said Friday that it will issue 17.65 million shares at a price of $17 per share.
The offering is made through a syndicate of underwriters led by TD Securities and BMO Nesbitt Burns.
An over-allotment of 2.6 million shares could raise an additional $45 million.
Existing shareholders, including management, will own 53 per cent of the company, however their stake could slip to 46 per cent if the over-allotment is exercised in full.
The offering is expected to close July 16 when Sleep Country’s shares will begin to trade under the symbol (TSX:ZZZ).
Sleep Country owns and operates 215 stores across Canada under its own name and the Dormez-Vous? banner.
It was listed on the Toronto Stock Exchange as an income trust from 2003 to 2008, when it was bought out for $356 million by Birch Hill Equity Partners and Westerkirk Capital…
From a technical malfunction keeping planes on the ground, to one of the world’s biggest travel loyalty cards promising they’ve made it easier than ever to take to the skies, it was a busy week in financial news. We get you all caught up in our weekly video recap.
Court agrees with probation only sentence for Beanie Babies creator in tax evasion case
– canadianbusiness.com
CHICAGO – A U.S. appeals court on Friday agreed with a sentence of probation for the billionaire creator of Beanie Babies stuffed toys, rejecting arguments by federal prosecutors that he deserved prison time for hiding millions of dollars in a Swiss bank account.
H. Ty Warner was accused of evading $5.6 million in U.S. taxes by concealing assets. He pleaded guilty, made full restitution — and paid a nearly $54 million civil penalty.
But when the trial judge sentenced him to two years’ probation, prosecutors — who were pushing for at least a year in prison — took the rare move of appealing the sentence. They argued that the toy-maker got off too easy given the lengths to which he went to conceal his crime.
The 7th U.S. Circuit Court of Appeals said the district court did not abuse its considerable discretion with the sentence.
“While incarcerating Warner undoubtedly would have sent a stronger message, the message sent by his existing sentence is, in our view, strong enough,” the judges wrote in the Friday ruling…
H. Ty Warner was accused of evading $5.6 million in U.S. taxes by concealing assets. He pleaded guilty, made full restitution — and paid a nearly $54 million civil penalty.
But when the trial judge sentenced him to two years’ probation, prosecutors — who were pushing for at least a year in prison — took the rare move of appealing the sentence. They argued that the toy-maker got off too easy given the lengths to which he went to conceal his crime.
The 7th U.S. Circuit Court of Appeals said the district court did not abuse its considerable discretion with the sentence.
“While incarcerating Warner undoubtedly would have sent a stronger message, the message sent by his existing sentence is, in our view, strong enough,” the judges wrote in the Friday ruling…
Onex waves goodbye to legacy call centre investment
– theglobeandmail.com
The company is selling majority of its stake in Sitel Worldwide Corp.
The Financial Post’s Jonathan Ratner looks at some of the day’s top business and financial stories.
