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Q & A: Your questions on managing your money in 2018 Jan 13th
The new year presents an opportunity for fresh financial start. CBC's Jacqueline Hansen hosted a recent Facebook Live with financial planner and author Shannon Lee Simmons about budgets, debt and enjoying your money..... More »
The life and times of an original “bankster” Feb 8th
Growing up in Guelph, Ont., in the 1870s, Arthur Cutten was a whiz with numbers and a shark at marbles, routinely capturing the most coveted orbs (“glassies,” if you’re curious) from his less-skilled classmates. That competitive spirit served him well years later, when 19-year-old Cutten—eag.... More »
CMHC expects housing starts and sales to slide over next 2 years Nov 6th
Canada Mortgage and Housing Corp. says the country's real estate market is expected to moderate over the next two years, as the increase in housing prices is expected to slow to more in line with economic fundamentals..... More »
Do you need that bank mutual fund? Maybe not + MORE Jul 10th
A regulator-led survey of Ontario mutual fund dealers based out of big banks finds a sizable minority are not always acting in the interests of clients.
The survey of close to 3,000 dealers by the Ontario Securities Commission and the Canadian Investment Regulatory Organization found that 25% say.... More »
Canadian exporters feel pessimistic on NAFTA uncertainty, seeking new solutions + MORE Dec 16th
TORONTO _ Nearly one-quarter of Canadian exporters believe they are negatively affected by looming NAFTA renegotiation uncertainty and are turning to creative solutions to succeed even if the free trade agreement fails, according to a poll by Export Development Canada.
The federal agency supporting .... More »
Icahn’s sweetened offer sends Pep Boys stock soaring; Bridgestone bows out
– canadianbusiness.com
NEW YORK, N.Y. – Carl Icahn appears to have emerged as the winner of the bidding war for auto parts and services retailer Pep Boys after Japanese tiremaker Bridgestone said it won’t counter his latest offer of about $1 billion.
Shares of Pep Boys hit their highest point in eight years on Tuesday after the company received a sweetened offer from Icahn of $18.50 in cash per share. That was up $2 per share from Icahn’s earlier bid and $1.50 better than the latest from Bridgestone.
Late Tuesday, Bridgestone indicated it was bowing out of the bidding war, saying it won’t make a counter offer to top Icahn’s latest.
Pep Boys’ stock has been ratcheting steadily higher over the past two months as a takeover bid from Bridgestone turned into a fight for control with Icahn. Philadelphia-based Pep Boys — Manny, Moe & Jack has about 800 outlets selling auto parts and offering vehicle maintenance.
Its stock has jumped 94 per cent from this time last year and rose almost 9 per cent Tuesday to $18…
Shares of Pep Boys hit their highest point in eight years on Tuesday after the company received a sweetened offer from Icahn of $18.50 in cash per share. That was up $2 per share from Icahn’s earlier bid and $1.50 better than the latest from Bridgestone.
Late Tuesday, Bridgestone indicated it was bowing out of the bidding war, saying it won’t make a counter offer to top Icahn’s latest.
Pep Boys’ stock has been ratcheting steadily higher over the past two months as a takeover bid from Bridgestone turned into a fight for control with Icahn. Philadelphia-based Pep Boys — Manny, Moe & Jack has about 800 outlets selling auto parts and offering vehicle maintenance.
Its stock has jumped 94 per cent from this time last year and rose almost 9 per cent Tuesday to $18…
Toronto Star'Bob from Calgary' has top comment on New York Times' websiteToronto Star“Bob from Calgary” wrote the most popular comment of all time on the New York Times' website. Topping 7,000 recommendations, Bob's comment on a 2010 Paul Krugman column about wealth and privilege, entitled “The Angry Rich”, beat out a reply to news …Calgary man writes New York Times' most popular comment of all timeToronto SunThe New York Times released the 10 most popular comments from its website, and …CBC.caNew York Times's Top Comment Ever Is About CanadaHuffington Post Canadaall 37 news articles »
Saudi rulers weigh political cost of economic reforms
– theglobeandmail.com
The financial viability of the world’s top oil exporter and its ruling Al Saud family hinges on its stomach to sustain such extensive changes
ShutterstockThe richer get richer—the rest, not so much. That, in short, is the picture of income growth since the Great Recession. And the trend is set to hit an unfortunate milestone in 2016, according to Oxfam International. That’s when Oxfam predicts the collective wealth of the “one per cent” will finally eclipse that of everyone else.
“Do we really want to live in a world where the one per cent own more than the rest of us combined?” asked Oxfam executive director Winnie Byanyima, in a statement earlier this year that warned about the negative effects of wealth concentration on the battle against global poverty. “The scale of global inequality is simply quite staggering. The gap between the richest and the rest is widening fast.”
There is, of course, a significant debate about whether a “wealth gap” is necessarily a bad thing. The wealthy are often touted as job creators and therefore an important driver of economic growth. Some have also quibbled with the way Oxfam crunches its data to overestimate poverty…
Federal fraud sentencing drags on for former NBA player, UConn star Tate George
– canadianbusiness.com
TRENTON, N.J. – Another day passed Tuesday without a sentence in the fraud case of a former NBA player convicted of running a real estate Ponzi scheme.
Former University of Connecticut and New Jersey Nets guard Tate George appeared in federal court in Trenton on Tuesday for the continuation of a hearing that spanned two days earlier this month. The parties are scheduled to return to court Wednesday morning.
George has been jailed since his 2013 conviction on four counts of wire fraud. Each count carries a maximum 20-year sentence, but George is expected to face considerably less time.
Prosecutors contend he convinced people, including NBA players, to invest in his company but used their money to pay off earlier investors.
George is representing himself and is disputing the amount of money prosecutors say people lost. The amount lost, which will be determined by a judge, could determine the length of George’s sentence.
George has contended his real estate ventures were legitimate and that he didn’t mislead investors…
Former University of Connecticut and New Jersey Nets guard Tate George appeared in federal court in Trenton on Tuesday for the continuation of a hearing that spanned two days earlier this month. The parties are scheduled to return to court Wednesday morning.
George has been jailed since his 2013 conviction on four counts of wire fraud. Each count carries a maximum 20-year sentence, but George is expected to face considerably less time.
Prosecutors contend he convinced people, including NBA players, to invest in his company but used their money to pay off earlier investors.
George is representing himself and is disputing the amount of money prosecutors say people lost. The amount lost, which will be determined by a judge, could determine the length of George’s sentence.
George has contended his real estate ventures were legitimate and that he didn’t mislead investors…
