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The best GIC rates in Canada for 2026 + MORE Feb 23rd
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Investors look to earnings as President Trump enters first week on the job + MORE Jan 22nd
Early signs point to growth for fourth-quarter results, but expectations are running high as big companies report
.... More »
Making sense of the markets this week: September 22, 2024 + MORE Sep 20th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
U.S. Fed cuts rates for the first time in four years
The U.S. dollar remains the most important currency in the world, a.... More »
Long-term future of Bombardier's other commercial aircraft unclear, analysts say Oct 21st
Bombardier's strategic C Series partnership with Airbus should put it on stronger financial footing but it remains unclear what fate awaits its other commercial aircraft..... More »
Hudson’s Bay properties in focus as RioCan calls creditor filing ‘disappointing’ - BNN Bloomberg + MORE Mar 18th
Hudson’s Bay properties in focus as RioCan calls creditor filing ‘disappointing’ BNN BloombergHudson's Bay's demise marks the death of the traditional department store in Canada CBC NewsWhat could the liquidation sales be like at Hudson’s Bay? Retail experts weigh in&nb.... More »
Buy this Toronto mansion for just $1
– moneysense.ca
(Century 21 / Paul Indrigo)Would you pay $1 for a century-old, 25,000-square-foot mansion that needs a little TLC?
That’s how much Toronto’s William Harris House is being listed for, in a city where the average price for a semi-detached home is closer to $1 million.
The $1 price tag sounds too good to be true and that’s because it is: The taxes on the abandoned building (a former home for single mothers that the Salvation Army purchased in the 1930s) adds up to an estimated $35,207 per year.
Using the City of Toronto’s handy property tax calculator, the more than $35,000 bill would put the actual value of the mansion at around $5 million, according to CTV News.
Despite its dilapidated condition, this way exceeds the average price of $808,000 for its Riverdale neighbourhood (which came in at 406 out of 431 in our annual ranking of Toronto ‘hoods) where the property can be found.
But as is often the case in Toronto’s booming real estate market, realtors expect the house will be sold for significantly over asking…
Silver Wheaton reports 4th-quarter loss of $169.3 million
– canadianbusiness.com
VANCOUVER – VANCOUVER, British Columbia (AP) _ Silver Wheaton Corp. (SLW) on Wednesday reported a fourth-quarter loss of $169.3 million, after reporting a profit in the same period a year earlier.
The Vancouver, British Columbia-based company said it had a loss of 42 cents per share. Earnings, adjusted for asset impairment costs, were 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The precious metals streaming company posted revenue of $200.5 million in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $173.9 million.
For the year, the company reported a loss of $162 million, or 41 cents per share, swinging to a loss in the period. Revenue was reported as $648.7 million.
Silver Wheaton shares have increased 43 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17…
The Vancouver, British Columbia-based company said it had a loss of 42 cents per share. Earnings, adjusted for asset impairment costs, were 14 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The precious metals streaming company posted revenue of $200.5 million in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $173.9 million.
For the year, the company reported a loss of $162 million, or 41 cents per share, swinging to a loss in the period. Revenue was reported as $648.7 million.
Silver Wheaton shares have increased 43 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17…
Business Highlights
– canadianbusiness.com
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Fed keeps key rates unchanged; foresees fewer hikes in 2016
WASHINGTON (AP) — The Federal Reserve is keeping a key interest rate unchanged in light of global pressures that risk slowing the U.S. economy.
As a result, Fed officials are forecasting that they will raise rates more gradually this year than they had envisioned in December. The officials now foresee two, rather than four, modest increases in their benchmark short-term rate during 2016.
The Fed said Wednesday that the economy has continued to grow at a moderate pace but that the global economy and financial markets still pose risks. Offsetting the threats, the Fed said in a statement after a policy meeting that it foresees further strengthening in the job market.
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Stocks end modestly higher after Fed holds rates steady
NEW YORK (AP) — U.S. stocks rose Wednesday after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned late last year.
The market had been lower before the Fed released its statement, which highlighted strength in hiring and housing, but weakness in exports and concerns over slower global economic growth…
Fed keeps key rates unchanged; foresees fewer hikes in 2016
WASHINGTON (AP) — The Federal Reserve is keeping a key interest rate unchanged in light of global pressures that risk slowing the U.S. economy.
As a result, Fed officials are forecasting that they will raise rates more gradually this year than they had envisioned in December. The officials now foresee two, rather than four, modest increases in their benchmark short-term rate during 2016.
The Fed said Wednesday that the economy has continued to grow at a moderate pace but that the global economy and financial markets still pose risks. Offsetting the threats, the Fed said in a statement after a policy meeting that it foresees further strengthening in the job market.
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Stocks end modestly higher after Fed holds rates steady
NEW YORK (AP) — U.S. stocks rose Wednesday after the Federal Reserve left interest rates unchanged and forecast it will raise rates more gradually than it had envisioned late last year.
The market had been lower before the Fed released its statement, which highlighted strength in hiring and housing, but weakness in exports and concerns over slower global economic growth…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,478.13, up 77.82 points):
First Quantum Minerals Ltd. (TSX:FM). Miner. Up 82 cents, or 10.72 per cent, to $8.47 on 11 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up 20 cents, or 10.53 per cent, to $2.10 on 9.3 million shares.
Kinross Gold Corp. (TSX:K). Miner. Up 19 cents, or 4.80 per cent, to $4.15 on 9.3 million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up 66 cents, or 9.07 per cent, to $7.94 on nine million shares.
Niko Resources Ltd. (TSX:NKO). Oil and gas. Up half-a-cent, or 1.72 per cent, to 29.5 cents on 8.6 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up 20 cents, or 5.04 per cent, to $4.17 on 8.4 million shares.
Companies reporting major news:
Bellatrix Exploration Ltd. (TSX:BXE). Oil and gas. Up 15 cents, or 10.95 per cent, to $1.52 on 4.3 million shares. The company had a $444.2-million net loss last year, most of it due to asset writedowns in the fourth quarter, but says it exceeded its 2015 expense-reduction target and spent less money than it produced in the quarter…
Toronto Stock Exchange (13,478.13, up 77.82 points):
First Quantum Minerals Ltd. (TSX:FM). Miner. Up 82 cents, or 10.72 per cent, to $8.47 on 11 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up 20 cents, or 10.53 per cent, to $2.10 on 9.3 million shares.
Kinross Gold Corp. (TSX:K). Miner. Up 19 cents, or 4.80 per cent, to $4.15 on 9.3 million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up 66 cents, or 9.07 per cent, to $7.94 on nine million shares.
Niko Resources Ltd. (TSX:NKO). Oil and gas. Up half-a-cent, or 1.72 per cent, to 29.5 cents on 8.6 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up 20 cents, or 5.04 per cent, to $4.17 on 8.4 million shares.
Companies reporting major news:
Bellatrix Exploration Ltd. (TSX:BXE). Oil and gas. Up 15 cents, or 10.95 per cent, to $1.52 on 4.3 million shares. The company had a $444.2-million net loss last year, most of it due to asset writedowns in the fourth quarter, but says it exceeded its 2015 expense-reduction target and spent less money than it produced in the quarter…
Deutsche Boerse AG and London Stock Exchange Group Plc agreed to combine in a £21-billion ($39.7 billion Cdn) deal to create a European trading powerhouse better able to compete with U.S. rivals encroaching on their turf.
