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Scotiabank CEO downplays concerns raised over Canadian debt levels + MORE Mar 21st
TORONTO _ Scotiabank’s chief executive says he disagrees with recent red flags raised over Canada’s high debt levels by an international body, and that he is “comfortable” with the lender’s risk profile.
Brian Porter told a University of Toronto conference that he had a.... More »
Year-over-year housing sales in Greater Toronto Area down 22.2 per cent in May - CBC.ca + MORE Jun 4th
CBC.caYear-over-year housing sales in Greater Toronto Area down 22.2 per cent in MayCBC.caThe Toronto Real Estate Board (TREB) reports that May housing sales in the Greater Toronto Area were down 22.2 per compared to May of last year. TREB says that while the number of sales was down year-over-year .... More »
Snap Unveils $2,195 AR Glasses as Stock Falls Nearly 30% - Yahoo! Finance Canada Jun 17th
Snap Unveils $2,195 AR Glasses as Stock Falls Nearly 30% Yahoo! Finance CanadaSnap unveils $2,195 AR glasses as CEO Evan Spiegel bets on post-smartphone future CNBCIntroducing SPECS Augmented Reality Glasses Snap NewsroomSnap Inc. Debuts SPECS Augmented Reality Glass.... More »
A parents’ guide to home down payment gifts and loans + MORE Aug 20th
It used to be that parents budgeted for post-secondary education or contributing to the costs of a child’s wedding. But now, I am increasingly finding parents planning for home down payment gifts.
The statistics support this and show an increase in down payment help in recent years. A CIBC stud.... More »
DHX Media announces management changes, CEO stepping down and CFO replaced + MORE Feb 27th
HALIFAX _ DHX Media Ltd. has announced a pair of top management changes as it continues a strategic review, including a possible sale of the company.
The children’s media company says Dana Landry is stepping down as chief executive and as a member of the company’s board of directors to p.... More »
47% decrease in mortgage loan insurance business ‘new normal’: CMHC
– canadianbusiness.com
TORONTO _ Canada’s national housing agency says the 47 per cent decline in the country’s insured mortgage market year-over-year in the third quarter is the “new normal level.”
The Canada Mortgage and Housing Corp. says in its latest financial report that it provided mortgage loan insurance to 67,915 units for the three-month period ended Sept. 30 compared to 127,991 units during the same period a year ago.
Steve Mennill, CMHC’s senior vice-president of insurance, says decreased volumes have been steady throughout the year as a result of the new regulations announced by the federal government in the fourth quarter of 2016.
The mortgage rules require all home buyers with less than a 20 per cent down payment to undergo a stress test to ensure the borrower can still service their loan should interest rates rise, or their personal finances fall. This cut into the purchasing power of some first-time homebuyers.
Mennill says CMHC is confident that the volume of insured mortgages the country is seeing now is the new normal level…
The Canada Mortgage and Housing Corp. says in its latest financial report that it provided mortgage loan insurance to 67,915 units for the three-month period ended Sept. 30 compared to 127,991 units during the same period a year ago.
Steve Mennill, CMHC’s senior vice-president of insurance, says decreased volumes have been steady throughout the year as a result of the new regulations announced by the federal government in the fourth quarter of 2016.
The mortgage rules require all home buyers with less than a 20 per cent down payment to undergo a stress test to ensure the borrower can still service their loan should interest rates rise, or their personal finances fall. This cut into the purchasing power of some first-time homebuyers.
Mennill says CMHC is confident that the volume of insured mortgages the country is seeing now is the new normal level…
The close: TSX ends lower with mining, technology stock falls
– theglobeandmail.com
Nasdaq falls with tech stocks; S&P ends flat
Conservatives call for embattled Finance Minister Bill Morneau to resign
– canadianbusiness.com
OTTAWA _ Conservative Leader Andrew Scheer called for Bill Morneau’s resignation Wednesday as political rivals stepped up their attacks on a finance minister mired in controversy for weeks.
Scheer demanded that Morneau step aside, and if he won’t, then Prime Minister Justin Trudeau should just fire him.
“After careful consideration, in my capacity of leader of the Opposition, I am officially calling on Bill Morneau to resign as finance minister,” Scheer told reporters before question period, where the issue dominated debate and saw Trudeau come to Morneau’s defence.
Scheer’s call for Morneau’s departure is the latest fuel thrown on the political fire that’s swirled around the finance minister since the summer, when he proposed tax-system changes that enraged small business owners.
Since then, Morneau has faced intense political pressure for not fully disclosing his personal financial arrangements.
Then came conflict-of-interest allegations over proposed pension reform, spearheaded by Morneau, that opponents have alleged would bring him personal financial benefit…
Scheer demanded that Morneau step aside, and if he won’t, then Prime Minister Justin Trudeau should just fire him.
“After careful consideration, in my capacity of leader of the Opposition, I am officially calling on Bill Morneau to resign as finance minister,” Scheer told reporters before question period, where the issue dominated debate and saw Trudeau come to Morneau’s defence.
Scheer’s call for Morneau’s departure is the latest fuel thrown on the political fire that’s swirled around the finance minister since the summer, when he proposed tax-system changes that enraged small business owners.
Since then, Morneau has faced intense political pressure for not fully disclosing his personal financial arrangements.
Then came conflict-of-interest allegations over proposed pension reform, spearheaded by Morneau, that opponents have alleged would bring him personal financial benefit…
Canadian waste management firm GFL plans $1-billion IPO: sources
– theglobeandmail.com
$1-billion IPO would be the biggest Canadian listing since Kinder Morgan Canada raised $1.7-billion early this year
FANG’s $60-billion wipeout is most in one day since Facebook IPO
– theglobeandmail.com
Fears of missing out on U.S. tax bounty spark tech rout
