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On business tax, Liberals need to catch up to the U.S. + MORE Dec 18th
Finance Minister Bill Morneau speaks to members of the media as Prime Minister Justin Trudeau looks on at a press conference on tax reforms in Stouffville, Ont., on Monday, October 16, 2017. (Nathan Denette/CP)
If you disliked the sight of your majority government bending the knee for the small-busi.... More »
Are you secretly anti-wealth? An abundance mindset can help you reach your financial goals Feb 3rd
Having a plan for your money — and a positive attitude — can help you find financial happiness, writes Lesley-Anne Scorgie..... More »
The humiliation, and comeback, of Michael Cooper + MORE Mar 9th
Knocked down by the Alberta slump, a real estate star rebuilds, slowly
.... More »
US ATM maker Diebold offering to buy Germany’s Wincor Nixdorf in deal worth $1.9 billion Oct 17th
BERLIN – ATM maker Diebold Inc. is offering to take over Wincor Nixdorf of Germany in a deal that would value the German company at more than 1.7 billion euros ($1.9 billion).
The companies said Saturday that they entered a non-binding term sheet agreement on “the key parameters of a pot.... More »
Why You Should Make ‘Career Cushioning’ Part of Your Job This Year + MORE Feb 1st
Have you ever casually browsed job boards, just to see what’s out there? Taken a recruiter’s call, even though you’re not sure you want to leave your current role anytime soon? Started a side hustle because it never hurts to have a Plan B? Congratulations, you were “career cushioning”—wh.... More »
Most actively traded companies on the TSX, TSX Venture Exchange
– canadianbusiness.com
TORONTO – Some of the most active companies traded Friday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (14,533.57 down 20.68 points):
Aurora Oil & Gas Ltd. (TSX:AEF). Oil and gas. Up one cent, or 0.24 per cent, to $4.18 on eight million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up six cents, or 0.1.49 per cent, to $4.09 on 5.8 million shares.
Manulife Financial Corp. (TSX:MFC). Insurance. Down 32 cents, or 1.54 per cent, to $20.43 on 4.4 million shares.
Potash Corporation of Saskatchewan Inc. (TSX:POT). Agriculture. Up 40 cents, or 1.03 per cent, to $39.42 on 4.4 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up four cents, or 0.48 per cent, to $8.38 on 4.3 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Up 49 cents, or 2.55 per cent, to $19.74 on 3.6 million shares.
Toronto Venture Exchange (1,013.59 down 0.86 of a point):
Falcon Oil & Gas Ltd. (TSXV:FO). Oil and gas. Down 3.5 cents, or 19.44 per cent, to 14.5 cents on 10…
Toronto Stock Exchange (14,533.57 down 20.68 points):
Aurora Oil & Gas Ltd. (TSX:AEF). Oil and gas. Up one cent, or 0.24 per cent, to $4.18 on eight million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up six cents, or 0.1.49 per cent, to $4.09 on 5.8 million shares.
Manulife Financial Corp. (TSX:MFC). Insurance. Down 32 cents, or 1.54 per cent, to $20.43 on 4.4 million shares.
Potash Corporation of Saskatchewan Inc. (TSX:POT). Agriculture. Up 40 cents, or 1.03 per cent, to $39.42 on 4.4 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Up four cents, or 0.48 per cent, to $8.38 on 4.3 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Up 49 cents, or 2.55 per cent, to $19.74 on 3.6 million shares.
Toronto Venture Exchange (1,013.59 down 0.86 of a point):
Falcon Oil & Gas Ltd. (TSXV:FO). Oil and gas. Down 3.5 cents, or 19.44 per cent, to 14.5 cents on 10…
Federal regulators take over small bank in South Carolina; Makes 6th US bank failure of 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in South Carolina, marking the sixth U.S. bank failure of 2014 after 24 closures last year.
The Federal Deposit Insurance Corp. said Friday that it has taken Allendale County Bank, based in Fairfax, S.C.
The lender, which operated five branches, had about $54.5 million in assets and $51 million in deposits as of Dec. 31.
Palmetto State Bank, based in Hampton, S.C., agreed to assume Allendale’s deposits and to buy essentially all of the failed lender’s assets.
Allendale County Bank’s failure is expected to cost the deposit insurance fund $17.1 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
The Federal Deposit Insurance Corp. said Friday that it has taken Allendale County Bank, based in Fairfax, S.C.
The lender, which operated five branches, had about $54.5 million in assets and $51 million in deposits as of Dec. 31.
Palmetto State Bank, based in Hampton, S.C., agreed to assume Allendale’s deposits and to buy essentially all of the failed lender’s assets.
Allendale County Bank’s failure is expected to cost the deposit insurance fund $17.1 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
CMHC again moves to tighten mortgage insurance rules as housing market cools
– canadianbusiness.com
OTTAWA – CMHC is moving yet again to tighten the home mortgage market with changes that would make it more difficult for certain Canadians to obtain government-secured financing for real estate purchases.
The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.
Self-employed Canadians can still qualify for CMHC insurance, but must be able to provide proof of their income levels, the agency said.
It estimated the changes would effect less than three per cent of the units it insures. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market, the agency added.
The changes are part of the agency’s continuing review of its products and core mandate to support stability in the housing market, CMHC said in a statement.
“As part of the review of its mortgage loan insurance business, CMHC is evaluating its products and services to ensure they are aligned with these objectives,” Steven Mennill, senior vice-president of insurance, said in a statement…
The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.
Self-employed Canadians can still qualify for CMHC insurance, but must be able to provide proof of their income levels, the agency said.
It estimated the changes would effect less than three per cent of the units it insures. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market, the agency added.
The changes are part of the agency’s continuing review of its products and core mandate to support stability in the housing market, CMHC said in a statement.
“As part of the review of its mortgage loan insurance business, CMHC is evaluating its products and services to ensure they are aligned with these objectives,” Steven Mennill, senior vice-president of insurance, said in a statement…
Pension fund manager AIMCo begins search to replace CEO Leo de Bever
– canadianbusiness.com
EDMONTON – Pension fund manager AIMCo says it has started looking for a replacement for CEO Leo de Bever.
In a statement issued Friday, the Alberta Investment Management Corp., said it has begun a search process to “ensure a new leader is in place to guide the organization into the next phase of its evolution.”
De Bever will remain as chief executive officer until the search is completed.
“A critical part of the CEO’s job is to effectively pass the torch to the next generation of leadership. I am confident that AIMCo is very well positioned for continued success,” said de Bever, who is expected to be on the boards of a number of portfolio companies and advise AIMCo on a number of issues.
AIMCo, is one of Canada’s largest and most diversified institutional investment managers, investing behalf of 27 pension, endowment and government funds Alberta, including the Alberta Heritage Savings Trust Fund.
The post Pension fund manager AIMCo begins search to replace CEO Leo de Bever appeared first on Canadian Business.
In a statement issued Friday, the Alberta Investment Management Corp., said it has begun a search process to “ensure a new leader is in place to guide the organization into the next phase of its evolution.”
De Bever will remain as chief executive officer until the search is completed.
“A critical part of the CEO’s job is to effectively pass the torch to the next generation of leadership. I am confident that AIMCo is very well positioned for continued success,” said de Bever, who is expected to be on the boards of a number of portfolio companies and advise AIMCo on a number of issues.
AIMCo, is one of Canada’s largest and most diversified institutional investment managers, investing behalf of 27 pension, endowment and government funds Alberta, including the Alberta Heritage Savings Trust Fund.
The post Pension fund manager AIMCo begins search to replace CEO Leo de Bever appeared first on Canadian Business.
Business Highlights
– canadianbusiness.com
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Russia’s Lavrov: West plotting to control Ukraine
Russia’s economy felt the sting of the Ukrainian crisis Friday after Standard & Poor’s cut its credit rating to near junk and Moscow hiked interest rates to keep its sliding ruble from fueling inflation.
The impact could get harder as the West threatens additional sanctions. Still, Russia is showing no signs of backing down, saying Friday that pro-Russian insurgents in Ukraine’s southeast will lay down their arms only if the Ukrainian government clears out nationalist protesters in Kyiv.
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A fading middle-class perk: lower mortgage rates
WASHINGTON (AP) — For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.
Rates for a conventional 30-year fixed mortgage are averaging 4.48 per cent, according to Bankrate…
Russia’s Lavrov: West plotting to control Ukraine
Russia’s economy felt the sting of the Ukrainian crisis Friday after Standard & Poor’s cut its credit rating to near junk and Moscow hiked interest rates to keep its sliding ruble from fueling inflation.
The impact could get harder as the West threatens additional sanctions. Still, Russia is showing no signs of backing down, saying Friday that pro-Russian insurgents in Ukraine’s southeast will lay down their arms only if the Ukrainian government clears out nationalist protesters in Kyiv.
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A fading middle-class perk: lower mortgage rates
WASHINGTON (AP) — For three decades, the U.S. middle class enjoyed a rare financial advantage over the wealthy: lower mortgage rates. Now, even that perk is fading away. Most ordinary homebuyers are paying the same or higher rates than the fortunate few who can afford much more.
Rates for a conventional 30-year fixed mortgage are averaging 4.48 per cent, according to Bankrate…
