New IMF report warns of Canada’s high debt levels + MORE Oct 12th

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 mutual funds

Weinstein Co. expected to file for bankruptcy + MORE Feb 26th

The Weinstein Co.'s board of directors says it is expected to file for bankruptcy protection after last-ditch talks to sell its assets collapsed..... More »

Sobey families consolidate Empire voting shares into single holding company + MORE Dec 29th

STELLARTON, N.S. _ The three branches of the Sobey family that control Canada’s second-largest grocery business have decided to put all of their Class B shares of Empire Co. Ltd. into a single holding company. The president of the new holding company, Stewart Mahoney, says the three families b.... More »
 real estate

Donald Trump’s tweets about rising stock prices plotted against the market decline + MORE Feb 10th

At one point on Friday Feb. 9, the Dow Jones Industrial Average fell to its lowest level since late November, before rebounding. Since January 26, the Dow has dropped close to 10 per cent, the first significant decline in stock prices since Donald Trump moved into the White House. Before the downtur.... More »

Avoiding Canadian tax on U.S. property + MORE Dec 8th

Q: I am separating (than divorcing) from my husband and we are splitting the houses we own—one in Canada and one in Phoenix. Can I use the Phoenix home as my principal residence? I have owned it since 2008. He will get the Canadian house in the divorce. — Sonja A: Hi Sonja, I am sorry that y.... More »

Spotify files for IPO of up to $1-billion + MORE Feb 28th

The company intends to apply to list its ordinary shares on the New York Stock Exchange under the ticker symbol ‘SPOT’ .... More »
DesRosiers Automotive Consultants said Wednesday that capital spending for Canada’s motor vehicle assembly industry has averaged $1.2-billion a year for 2010-17, down from $2.3-billion from 2000 to 2009

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TORONTO _ A new stress test for all uninsured mortgages is unnecessary and could increase costs for homebuyers, a report by the Fraser Institute said Wednesday.
Study author Neil Mohindra wrote the proposed stress test “will do more harm than good” by limiting access to mortgages for some homebuyers.
“The mandatory standard for stress testing could result in a less competitive and more concentrated mortgage market,” he wrote in the report.
The study comes as the federal Office of the Superintendent of Financial Institutions finalizes new lending guidelines.
Among the changes being contemplated is a requirement that homebuyers who have a down payment of 20 per cent or more and do not require mortgage insurance still have to show they can make their payments if interest rates rise.
The head of OSFI has said that Canada’s banking regulator wants to reduce the risk of mortgage defaults because of high levels of household debt.
“We are not waiting to see those risks crystallize in rising arrears and defaults before we act,” OSFI head Jeremy Rudin said last week…

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MONTREAL _ The head of one of the companies offering financing for taxi permits in Montreal insists there is still a market for the much-devalued commodity.
The price of a permit has decreased almost 40 per cent since Uber began operating in Quebec about four years ago, according to the province’s Transport Department.
Michel Hebert’s company, FinTaxi, is doing what it can to prop up the market by refusing to finance permits at a value below $110,000 _ regardless of how much a seller is willing to offer.
“We think the value of the taxi permit is higher than $110,000,” Hebert said in an interview. “And we are keeping that base.”
FinTaxi is wholly owned by the Fonds de solidarite FTQ, a massive investment fund with ties to the province’s largest labour federation, which counts the taxi drivers’ union among its members.
Organized labour in Quebec doesn’t only have a vested interest in the future of the government-controlled taxi system to save jobs _ there are tens of millions of dollars on the line for the Fonds FTQ if the permit market goes bust…

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OTTAWA _ Shopify Inc.’s chief executive says he’ll push back against a short-seller’s report questioning the company’s business model during the release of their next financial results.
Company CEO Tobias Lutke tweeted that he looks forward to the next earnings call, expected in early November, where he’ll address the “short-selling troll” targeting Shopify.
He further tweeted that “the irony of an outfit like Citron accusing any business of being a get-rich-quick scheme should not be lost on anyone.”
Last week, short-seller Citron Research released a report claiming Ottawa-based Shopify was running what it called an overvalued get-rich-quick scheme, sending the stock down from near $150 a share to around $112 a share on Tuesday.
The stock regained a bit of ground by mid-day Wednesday, up $4 to $119.76 for a 3.5 per cent gain for the day.
Ottawa-based Shopify posted a defence of its business model to its website last Thursday, but didn’t specifically refer to allegations published by Andrew Left of Citron Research…

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New IMF report warns of Canada’s high debt levelsIn the new report, the International Monetary Fund says these dynamics in Canada’s private non-financial sector leaves its economy more sensitive to tighter financial conditions.

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