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Hong Kong, London, New York shortlisted for Aramco IPO, Toronto out: sources + MORE Jan 11th
Either individually or in combination, the three exchanges are believed to be in consideration for the international portion of the listing of the Saudi national oil company
.... More »
The wrong way to pay off debt + MORE Sep 7th
I’ve always believed that anyone substantially mired in debt has no business fantasizing about retirement. For me, this extends even to a home mortgage, which is why I often say “the foundation of financial independence is a paid-for home.”
Sadly, however, it’s a fact that many Canadian sen.... More »
Fintech platforms outpace bank brokerages in new survey + MORE Apr 9th
Fintech companies are leading in client satisfaction compared with self-directed brokerages at traditional banks, a new report shows. A JD Power survey on investor satisfaction found fintechs aren’t just winning on consumer satisfaction but are also perceived to be more innovative and equally .... More »
How Green Card holders can get the most out of TFSAs and RRSPs + MORE Jan 7th
Getty Images/Chris Cheadle
Q. I am a Green Card holder as well as a Canadian resident, and have two questions: No.1. Which are the best securities to invest inside my TFSA to be “friendly” from an Internal Revenue Service and Federal Treasury Board (IRS/FTB) tax point of view? And .... More »
Why you don’t invest your money? Jan 26th
Do you need to be an investor to be happy? No. Can you get rich without ever buying a single stock? Sure. Then why bother? Yeah, I thought the same.
But no matter how happy you are or how much money you make, there’s something that has been feeding off of your finances behind your back. It has .... More »
Canadian Natural Resources reports $1.07 billion second quarter profit
– canadianbusiness.com
Canadian Natural Resources Ltd. (TSX:CNQ) trimmed its capital spending plan for this year as it reported a profit of $1.07 billion in its latest quarter compared with a loss a year ago.
The oilsands company says it has decreased its capital spending program by about $180 million for 2017. It had said it March that it planned to spend about $3.9 billion this year.
The decision came as Canadian Natural also raised the mid-point of its 2017 annual liquids and barrels of oil equivalent production guidance by 11,000 bbl/d and 3,000 BOE/d respectively.
The company says its profit in its latest quarter amounted to 93 cents per diluted share compared with a loss of $339 million or 31 cents per share in the same quarter last year.
Adjusted earnings from operations were $332 million or 29 cents per share compared with a loss of $210 million or 19 cents per share a year ago.
Production in the quarter averaged 913,171 barrels of oil equivalent per day, up from 783,988 in the second quarter last year…
The oilsands company says it has decreased its capital spending program by about $180 million for 2017. It had said it March that it planned to spend about $3.9 billion this year.
The decision came as Canadian Natural also raised the mid-point of its 2017 annual liquids and barrels of oil equivalent production guidance by 11,000 bbl/d and 3,000 BOE/d respectively.
The company says its profit in its latest quarter amounted to 93 cents per diluted share compared with a loss of $339 million or 31 cents per share in the same quarter last year.
Adjusted earnings from operations were $332 million or 29 cents per share compared with a loss of $210 million or 19 cents per share a year ago.
Production in the quarter averaged 913,171 barrels of oil equivalent per day, up from 783,988 in the second quarter last year…
Toronto home sales tank 40 per cent, prices down nearly $175,000 since April
– canadianbusiness.com
After 16 years, Dina Alker is going to put her house in Toronto up for sale Monday, joining the throngs of others in the city who have decided to downsize as a chill gripping what was once one of the hottest real estate markets in North America takes hold.
“I’m at a turning point in my life,” said Alker, 58, who plans to buy a condo.
“It’s a big responsibility in a house. You’re never really worry-free.”
Alker is unfazed by data released Thursday showing that sales in the Greater Toronto Area tanked last month by 40.4 per cent compared to July 2016 after a bout of frantic buying at the start of the year. Instead, she sees a silver lining _ prices dipped for the third consecutive month.
“It may be not as favourable (to sell), but when I go to buy, there’s an advantage there.”
The decline in property transactions was driven by fewer sales of detached homes in Toronto and its surrounding areas, the Toronto Real Estate Board said.
The average selling price of all properties in July was $746,218, roughly triple what it was when Alker bought her home and up five per cent from the same month last year…
“I’m at a turning point in my life,” said Alker, 58, who plans to buy a condo.
“It’s a big responsibility in a house. You’re never really worry-free.”
Alker is unfazed by data released Thursday showing that sales in the Greater Toronto Area tanked last month by 40.4 per cent compared to July 2016 after a bout of frantic buying at the start of the year. Instead, she sees a silver lining _ prices dipped for the third consecutive month.
“It may be not as favourable (to sell), but when I go to buy, there’s an advantage there.”
The decline in property transactions was driven by fewer sales of detached homes in Toronto and its surrounding areas, the Toronto Real Estate Board said.
The average selling price of all properties in July was $746,218, roughly triple what it was when Alker bought her home and up five per cent from the same month last year…
New CEO of mortgage lender Home Capital says corporate culture is critical
– canadianbusiness.com
The new CEO of Home Capital Group (TSX:HCG) says ensuring the company, which nearly collapsed earlier this year, has the right corporate culture is critical to its future.
In his first day on the job Thursday, Yousry Bissada said while the lender’s core executive team is strong, there is still much to be done to rebuild its business.
“We still have a lot of hard work ahead of us, but it is going to be a different kind of challenge,” Bissada told a conference call to discuss the company’s second-quarter results.
“We’re in a position where we can look forward and make fresh decisions about the kind of company we want to be.”
Home Capital flirted with disaster earlier this year after Ontario’s securities regulator alleged the company failed to satisfy its disclosure obligations in a scandal about falsified loan applications that began in 2014.
The news sank Home Capital’s stock and the plunge only worsened as customers pulled their deposits, a key source of funding for the alternative mortgage lender, sparking a liquidity crisis…
In his first day on the job Thursday, Yousry Bissada said while the lender’s core executive team is strong, there is still much to be done to rebuild its business.
“We still have a lot of hard work ahead of us, but it is going to be a different kind of challenge,” Bissada told a conference call to discuss the company’s second-quarter results.
“We’re in a position where we can look forward and make fresh decisions about the kind of company we want to be.”
Home Capital flirted with disaster earlier this year after Ontario’s securities regulator alleged the company failed to satisfy its disclosure obligations in a scandal about falsified loan applications that began in 2014.
The news sank Home Capital’s stock and the plunge only worsened as customers pulled their deposits, a key source of funding for the alternative mortgage lender, sparking a liquidity crisis…
Toronto home sales in July plunge compared to year ago
– moneysense.ca
TORONTO — The Toronto Real Estate Board says property sales tanked 40.4 per cent last month compared with July 2016.
The drop was led by the detached home market both in City of Toronto and the surrounding areas.
The board says the Multiple Listing Service composite benchmark price was up 18 per cent on a year-over-year basis. However, the benchmark was down 4.6 per cent compared with June.
The latest data follows moves by the Ontario government earlier this year to rein in the real estate market.
Home prices have been on a decline since April, when the province introduced more than a dozen changes —including a 15 per cent tax on foreigners purchasing property — aimed at cooling the Greater Toronto Area’s real estate market.
The board says foreign buyers represent a small part of the real estate market and the decline has more to do with potential homebuyers waiting to see how market conditions evolve.
READ MORE:
The drop was led by the detached home market both in City of Toronto and the surrounding areas.
The board says the Multiple Listing Service composite benchmark price was up 18 per cent on a year-over-year basis. However, the benchmark was down 4.6 per cent compared with June.
The latest data follows moves by the Ontario government earlier this year to rein in the real estate market.
Home prices have been on a decline since April, when the province introduced more than a dozen changes —including a 15 per cent tax on foreigners purchasing property — aimed at cooling the Greater Toronto Area’s real estate market.
The board says foreign buyers represent a small part of the real estate market and the decline has more to do with potential homebuyers waiting to see how market conditions evolve.
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The post Toronto home sales in July plunge compared to year ago appeared first on MoneySense.
