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Markets response to U.S. Federal Reserve Aug 24th
U.S. stocks rallied close to their records Friday after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy.
The S&P 500 rose 1.1% after Fed Chair Jerome Powell said in a highly anti.... More »
Ford widely beats expectations on North America profit + MORE Jul 28th
Auto maker posts second-quarter earnings of $1.89 billion, maintains its full-year forecast
.... More »
PepsiCo 3Q results beat Street; raises full-year guidance + MORE Sep 29th
PURCHASE, N.Y. – PepsiCo, free of last year’s entanglements in beleaguered Venezuela, reported soaring third-quarter profits that breezed past almost all expectations.
The company boosted its full-year profit outlook given its performance to date and shares jumped more than 2 per cent, w.... More »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Jul 28th
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
Investor love grows for the low-cost balanced fund + MORE Mar 6th
Canadian investor confidence in stocks, mutual funds, TFSAs, RSPS and ETFs are all up these days, but it may be surprising to learn that it’s the simple Balanced Mutual Fund that received the biggest increase in consumer confidence—climbing 10% in one year.
Confidence in balanced funds, whic.... 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 »
