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Is Saudi crown prince Mohammed bin Salman hiding his mother from the king? - South China Morning Post + MORE Mar 16th
South China Morning PostIs Saudi crown prince Mohammed bin Salman hiding his mother from the king?South China Morning PostSaudi Arabian Crown Prince Mohammed bin Salman has garnered international intrigue in the months since manoeuvring to become next in line for the throne. Part of that plan was se.... More »
Jackson Hole: Markets Ready For Hawkish Powell (Live) - Investor's Business Daily Aug 22nd
Jackson Hole: Markets Ready For Hawkish Powell (Live) Investor's Business DailyPowell, citing jobs risk, opens door to cuts but doesn't commit ReutersPowell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House AP NewsNorth Ameri.... More »
What every American should know before buying a home in Canada + MORE Jul 24th
Buying a home is one of life’s biggest financial decisions, but it’s also one of the easiest places to make an expensive cross-border tax mistake. For many families, purchasing a home represents stability, permanence, and the feeling of finally putting down roots. For U.S. citizens living in.... More »
Race and riches by the numbers + MORE Apr 13th
When it comes to determining your odds of becoming a millionaire, education and age count—though not nearly as much as the colour of your skin. These are the provocative findings of a study conducted by economists at the Federal Reserve Bank of St. Louis and Bloomberg News, which surveyed 12,500 U.... More »
Bond Yields Rise, Stocks Dip as Metals Push Higher: Markets Wrap - Yahoo Canada Finance Feb 22nd
Bond Yields Rise, Stocks Dip as Metals Push Higher: Markets Wrap Yahoo Canada FinanceWorld shares sink as bond yields, commodities surge By Reuters Investing.comGlobal Financial Markets Steady Early Monday Amid Rising Global Bond Yields FX EmpireWorld shares sink as .... More »
Toshiba Corp. stock fell 17 per cent in trading in Tokyo Monday, wiping $3 billion Cdn. off its market value. The plunge came after the company made an announcement after markets closed Friday that it would expand an investigation into its own accounting.
Gap’s 1Q revenue is suffering under strong dollar, expects to report full results next week
– canadianbusiness.com
SAN FRANCISCO – Gap says the strong dollar is hurting its revenue.
The retailer behind the Gap, Old Navy and Banana Republic brands said Monday that its first-quarter revenue fell 3 per cent to $3.66 billion. The translation of foreign sales into U.S. dollars pushed this figure down by about $90 million, driven largely by the weakening Japanese yen and Canadian dollar. On a constant currency basis, its revenue would have fallen 1 per cent.
Analysts surveyed by FactSet expected revenue of $3.76 billion.
Gap is one of many companies struggling with the impact of the strong dollar as sales in foreign currencies amount to less once they are translated back into U.S. dollars.
The retailer expects earnings between 55 and 56 cents per share with a 2 cent benefit tied to tax matters. Analysts expect 54 cents.
The post Gap’s 1Q revenue is suffering under strong dollar, expects to report full results next week appeared first on Canadian Business – Your Source For Business News.
The retailer behind the Gap, Old Navy and Banana Republic brands said Monday that its first-quarter revenue fell 3 per cent to $3.66 billion. The translation of foreign sales into U.S. dollars pushed this figure down by about $90 million, driven largely by the weakening Japanese yen and Canadian dollar. On a constant currency basis, its revenue would have fallen 1 per cent.
Analysts surveyed by FactSet expected revenue of $3.76 billion.
Gap is one of many companies struggling with the impact of the strong dollar as sales in foreign currencies amount to less once they are translated back into U.S. dollars.
The retailer expects earnings between 55 and 56 cents per share with a 2 cent benefit tied to tax matters. Analysts expect 54 cents.
The post Gap’s 1Q revenue is suffering under strong dollar, expects to report full results next week appeared first on Canadian Business – Your Source For Business News.
Hooters Casino Hotel sold for $70 million to New York-based hotel investment firm
– canadianbusiness.com
LAS VEGAS, Nev. – A real estate broker representing the owners of the Hooters Casino Hotel says the near-Strip property has sold for about $70 million to a New York-based hotel investment company.
Michael Parks with CBRE Group in Las Vegas confirmed Monday the casino-hotel off Tropicana Avenue was sold May 1 to Trinity Hotel Investors LLC.
Parks says he represented the seller, Canyon Capital Advisors.
Parks says the purchase price for the nearly 700-room hotel includes the $53.8 million paid for real estate in addition to the personal property attached to it including furniture and fixtures inside.
It isn’t clear what Trinity Hotel Investors plans to do with the property. A call Monday to the firm’s chief investment officer was not returned.
Canyon Capital Advisors has owned the casino-hotel since 2012.
The post Hooters Casino Hotel sold for $70 million to New York-based hotel investment firm appeared first on Canadian Business – Your Source For Business News.
Michael Parks with CBRE Group in Las Vegas confirmed Monday the casino-hotel off Tropicana Avenue was sold May 1 to Trinity Hotel Investors LLC.
Parks says he represented the seller, Canyon Capital Advisors.
Parks says the purchase price for the nearly 700-room hotel includes the $53.8 million paid for real estate in addition to the personal property attached to it including furniture and fixtures inside.
It isn’t clear what Trinity Hotel Investors plans to do with the property. A call Monday to the firm’s chief investment officer was not returned.
Canyon Capital Advisors has owned the casino-hotel since 2012.
The post Hooters Casino Hotel sold for $70 million to New York-based hotel investment firm appeared first on Canadian Business – Your Source For Business News.
Morgan Stanley will sell oil storage and transport business after facing scrutiny
– canadianbusiness.com
NEW YORK, N.Y. – Morgan Stanley is selling its oil storage and transport business, which has drawn scrutiny from Congress, to commodities trading company Castleton.
Castleton is buying oil terminal storage agreements, inventory, oil purchase and sale and supply deals, and freight shipping contracts. The companies say they hope to complete the deal in 2015. They did not disclose terms of the sale.
In November a Senate investigation said Morgan Stanley and other Wall Street banks that owned commodities like oil and aluminum and uranium exposed themselves to big risks and gave themselves unfair trading advantages in financial markets.
The report said Morgan Stanley got important non-public information about oil shipments and pipelines and could’ve used that information to make bigger profits in trading.
Goldman Sachs later agreed to sell its metals storage business.
The post Morgan Stanley will sell oil storage and transport business after facing scrutiny appeared first on Canadian Business – Your Source For Business News.
Castleton is buying oil terminal storage agreements, inventory, oil purchase and sale and supply deals, and freight shipping contracts. The companies say they hope to complete the deal in 2015. They did not disclose terms of the sale.
In November a Senate investigation said Morgan Stanley and other Wall Street banks that owned commodities like oil and aluminum and uranium exposed themselves to big risks and gave themselves unfair trading advantages in financial markets.
The report said Morgan Stanley got important non-public information about oil shipments and pipelines and could’ve used that information to make bigger profits in trading.
Goldman Sachs later agreed to sell its metals storage business.
The post Morgan Stanley will sell oil storage and transport business after facing scrutiny appeared first on Canadian Business – Your Source For Business News.
Behind the Chronic Weakness of Capital Investment
– online.wsj.com
Companies have lots of cash on the books but are slow to lay it out—that’s one reason why productivity has slowed.
