Andrea's Feed
Oct 7, 2013

Frontier markets lure investors chasing yield

Oct 7 (Reuters) – After a year of mediocre returns from
emerging markets, many investors are searching for yield in
so-called frontier markets in hopes that low prices and
potential growth will outweigh the risks in little-developed
lands.

Often viewed as tomorrow’s tigers, nations like Nigeria,
Qatar, Bangladesh or Colombia have drawn interest from asset
managers looking for well-managed companies serving a growing
middle class – a combination with strong potential for profit.

Sep 30, 2013

Helping clients through divorce boosts business

TORONTO, Sept 30 (Reuters) – Faisal Karmali had been a
financial adviser for 10 years when he decided to add divorce
financial planning to his toolkit. Since then, his practice has
surged, with new clients seeking advice at what may be the most
financially fraught time of their lives.

“I started off with a couple of existing clients going
through divorce, and now it is all new clients coming to me,”
said Karmali, an adviser at Popowich Karmali Advisory Group in
Calgary, Alberta.

Sep 25, 2013

Fund manager AGF profit below estimates; signs of improvement

TORONTO, Sept 25 (Reuters) – AGF Management Ltd
notched a smaller-than-expected third-quarter profit on
Wednesday, but its stock was little changed on signs the worst
may be over for the Canadian fund manager after its recent
struggles.

Toronto-based AGF said net income from continuing operations
was C$10.1 million ($9.8 million), or 11 Canadian cents per
share, compared with a loss of C$19.3 million, or 20 Canadian
cents per share, a year earlier.

Sep 23, 2013

Fairfax consortium bids $4.7 billion to take BlackBerry private

TORONTO (Reuters) – Smartphone maker BlackBerry has agreed to go private in a $4.7 billion deal led by its biggest shareholder, allowing the on-the-go email pioneer to regroup away from public scrutiny after years of falling fortunes and slumping market share.

The $9 a share tentative offer, from a consortium led by property and casualty insurer Fairfax Financial Holdings Ltd, will set a floor for any counteroffers that might emerge for Blackberry, which has been on the block since August.

Sep 23, 2013

India-born Watsa – an investor with a long view

TORONTO (Reuters) – As soon as Prem Watsa stepped down from Blackberry’s board in August, speculation that he would launch a bid for the troubled smartphone maker started to swirl. Six weeks later, the man some call Canada’s Warren Buffett has delivered, beginning a rescue project he once said could take four or five years.

Just over a year ago, Watsa said BlackBerry(BB.TO: Quote, Profile, Research) was a “Canadian success story,” a good buy and a likely turnaround story even though its market share was tumbling.

Sep 23, 2013

BlackBerry savior Watsa, an investor with a long view

TORONTO (Reuters) – As soon as Prem Watsa stepped down from Blackberry’s board in August, speculation that he would launch a bid for the troubled smartphone maker started to swirl. Six weeks later, the man some call Canada’s Warren Buffett has delivered, beginning a rescue project he once said could take four or five years.

Just over a year ago, Watsa said BlackBerry was a “Canadian success story,” a good buy and a likely turnaround story even though its market share was tumbling.

Sep 18, 2013

Facebook apologizes, bans advertiser who used photo of dead teenager

TORONTO (Reuters) – Facebook Inc said on Wednesday it has banned an advertiser that used photographs of a deceased Canadian bullying victim in an ad for an online dating website.

A Facebook user noticed the ad, which featured a photo of Rehtaeh Parsons, a 17-year-old Halifax girl who died after a suicide attempt that followed months of cyber bullying and an alleged sexual assault.

Sep 16, 2013

Canada home sales jump in August, defy predicted slowdown

TORONTO, Sept 16 (Reuters) – Sales of existing homes in
Canada rose in August from July and were much higher than a year
earlier, the Canadian Real Estate Association said on Monday in
a report that showed continued strong demand in housing that may
end as mortgage rates rise.

The industry group for Canadian real estate agents said
sales activity was up a solid 2.8 percent in August from the
month before. While that may reflect rising mortgage rates
pulling demand from the future, it still defied predictions
early in the year for a sharp slowdown in Canadian housing.

Sep 10, 2013

AGF hopes to lure investors with pledge not to lose their money

TORONTO, Sept 10 (Reuters) – AGF Management Ltd hopes to
lure Canadian investors back to its mutual fund lineup with a
new class of equity funds whose goal is simple: not to lose
money.

With the 2008-09 financial crises still in the rear view
mirror, many Canadians have been reluctant to return to the
equity funds that were both the bread and butter of their
portfolios and cash cows for fund companies.

Sep 9, 2013

Neiman Marcus sold for $6 billion to Canada Pension Plan, Ares

NEW YORK/TORONTO (Reuters) – The owners of Neiman Marcus Inc NMRCUS.UL agreed to sell the U.S. luxury department store chain to two private investors for $6 billion, almost $1 billion more than they paid for the company in 2005.

The buyers, Ares Management LLC and the Canada Pension Plan Investment Board (CPPIB), said on Monday they will split ownership equally, with an undisclosed minority stake going to current management.