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What are the taxes on transferring real estate to your kids? Jun 27th
We purchased a condo for our son, who has been using it as his principal residence for over 10 years. He has made improvements, but the title is in our name. We would like to transfer the title to him, as he is now getting married.
How do we determine fair market value in a fluctuating mark.... More »
Carrick best reads: Five things you should know about TFSA - The Globe and Mail + MORE Apr 8th
The Globe and MailCarrick best reads: Five things you should know about TFSAThe Globe and MailThe best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick. Five things you should know about TFSA The rules for tax-free saving.... More »
AIG sells its stake in United Guaranty + MORE Aug 16th
NEW YORK, N.Y. – AIG on Monday said it is selling its stake in United Guaranty to Arch Capital Group in a cash-and-stock deal worth $3.4 billion.
The move is part of New York-based American International Group Inc.’s ongoing effort to streamline its organization.
United Guaranty Corp. is.... More »
Man to plead guilty in Disney insider information case, pay $801,000 to securities regulators + MORE Apr 16th
LOS ANGELES, Calif. – A man will plead guilty to securities fraud and pay regulators around $801,000 for using insider information to profit from Disney’s $4 billion acquisition of Marvel Entertainment in 2009.
According to the deal filed in Los Angeles federal court Wednesday, Toby Scam.... More »
What to do now the markets are blowing up + MORE Aug 23rd
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“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” – Ben Graham, legendary investor, financial hero of Warren Buffett
I can appreciate these are trying times if you̵.... More »
BlackBerry patents key to raising buyout debt
– thestar.com
The company’s patents, licenses and a secure network may be valued at about $2.8 billion, according to a report this week by Raymond James Financial Inc.Doubts about Fairfax buyout hit BlackBerry's stock
– theglobeandmail.com
Share price sinks 6% as investors question Fairfax’s ability to raise enough money to make the $4.7-billion deal happen
Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages
– canadianbusiness.com
WASHINGTON – Citigroup Inc. has agreed to pay $395 million to Freddie Mac to settle claims on home loans it sold to the government-controlled mortgage finance company.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
Canada's soaring real estate market: Feel good now, pay later
– theglobeandmail.com
Canadians are too fixated on the idea that rising prices are an indicator of prosperity and success. The housing boom has also created serious financial disruptions that we ignore at our peril
TransForce makes unsolicited takeover offer for Vitran; bids US$4.50 per share
– canadianbusiness.com
MONTREAL – TransForce Inc. (TSX:TFI) has made an unsolicited takeover bid for fellow trucking company Vitran (TSX:VTN), offering US$4.50 in cash for all outstanding shares it doesn’t already own.
TransForce, which currently holds 9.51 per cent of Vitran’s more than 16.4 million shares, said the proposal was contained in a letter sent to the chairman of Vitran’s board.
“TransForce made the proposal with the objective of entering into negotiations with Vitran’s board and obtaining its support,” the company said in a news release after markets closed.
Vitran stock closed at C$4.85 Wednesday on the Toronto Stock Exchange, up 40 cents or almost nine per cent. The stock was up 16 cents, or 3.5 per cent, at US$4.72 on the Nasdaq, well above the TransForce bid.
Among other things, TransForce said the proposal is conditional upon completion of the sale by Toronto-based Vitran of its U.S. less than truckload business, a deal announced earlier this week.
TransForce said Vitran would remain a stand-alone business within the TransForce group of companies and that it was “very keen that the existing management team remain with Vitran going forward to continue to execute their business plan…
TransForce, which currently holds 9.51 per cent of Vitran’s more than 16.4 million shares, said the proposal was contained in a letter sent to the chairman of Vitran’s board.
“TransForce made the proposal with the objective of entering into negotiations with Vitran’s board and obtaining its support,” the company said in a news release after markets closed.
Vitran stock closed at C$4.85 Wednesday on the Toronto Stock Exchange, up 40 cents or almost nine per cent. The stock was up 16 cents, or 3.5 per cent, at US$4.72 on the Nasdaq, well above the TransForce bid.
Among other things, TransForce said the proposal is conditional upon completion of the sale by Toronto-based Vitran of its U.S. less than truckload business, a deal announced earlier this week.
TransForce said Vitran would remain a stand-alone business within the TransForce group of companies and that it was “very keen that the existing management team remain with Vitran going forward to continue to execute their business plan…
