TORONTO, May 13 (Reuters) – Five months after buying one of
Toronto’s new luxury hotel condominiums, Oliver Baumeister is
girding for a glut of suites like his to hit the market as the
biggest names in the hotel business open hundreds of units in
Canada’s largest city.
Baumeister, himself a real estate agent, is in no rush to
sell. When Toronto’s untested market for five-star condo living
absorbs the surplus – say by 2016 – he intends to offload his
sky-high unit for a tidy 20 percent profit, and look for his
next Canadian real estate investment.
TORONTO, May 11 (Reuters) – The Canadian dollar closed
stronger against its U.S. counterpart on Friday after
unexpectedly strong Canadian job gains boosted bets on a rate
hike, but global woes tempered gains.
Defying market expectations, Canada added 58,200 jobs in
April, mostly full-time, after a whopping gain of 82,300 new
positions in March.
April 3 (Reuters) – Ontario Teachers’ Pension Plan, one of
Canada’s top dealmakers, said on Tuesday it had an 11.2 percent
rate of return on its investments in 2011, bringing net assets
to a record high C$117.1 billion ($117.9 billion) despite market
The third straight year of double-digit returns on its
massive investment portfolio failed to close Teachers’ funding
shortfall, which narrowed to C$9.6 billion from C$17.2 billion
in 2010. The funding gap measures the shortfall between the
projected cost of providing pensions to Teachers’ 300,000 active
and retired teachers and its projected asset growth.
April 2 (Reuters) – April 2 (Reuters) – BlackRock
Investments Canada Inc, a unit of New-York based BlackRock Inc
, named Mary Anne Wiley head of its iShares unit on
Monday following the completion of BlackRock’s purchase of
Claymore Investments Inc.
BlackRock said Som Seif, the former president and chief
executive of Claymore, was leaving the company less than three
months after it acquired Claymore from Seif, but that he would
stay at BlackRock until mid April to help with the transition.
March 29 (Reuters) – Royal Bank of Canada (RY.TO: Quote, Profile, Research) is hiring
aggressively as the world’s sixth-largest wealth manager seeks
to expand its business in Asia and Latin America as well as more
established markets such as the United States and Britain,
executives said on Thursday.
RBC Wealth Management head George Lewis told Reuters in an
interview that Canada’s largest bank wants to more than double
its adviser headcount in emerging markets to at least 220 by
2015 as it seeks to expand its business there from C$20 billion
March 29 (Reuters) – While regulators around the world are
forcing financial advisers away from commission-based selling to
combat real or perceived conflicts of interest, a fractured
regulatory system has left Canadian investors lagging the move
to more transparent fees.
“You’ve seen compensation changes in Britain, you’ve seen
compensation changes in Australia, the same thing in the U.S.
And we still seem to be moving at a snail’s pace compared to
what’s happening around the globe,” said Alan Fustey, an
independent financial adviser and author of “Risk: Financial
Markets and You.”
TORONTO (Reuters) – When director Jennifer Baichwal was asked to turn novelist Margaret Atwood’s book about debt into a documentary, she declined, scared that the topic was about money. Three years later, film complete, she was terrified to show her literary hero the result.
The Emmy-winning filmmaker needn’t have worried on either count. Atwood’s book, “Payback: Debt and the Shadow Side of Wealth” is more about moral debt than financial, and Baichwal’s film of the same name clearly impressed the internationally renowned writer with its stories of a blood feud, a field-worker crusade for better treatment, and a massive oil spill.
TORONTO, March 11 (Reuters) – With interest rates low
and bitter memories of falling stocks fresh in their minds,
Canadian investors are increasingly looking to market-linked
GICs, a product that protects their principal while offering
Sales of Guaranteed Investment Certificates (GICs) linked to
equities performance rose to a record C$32 billion ($32.36
billion) in 2011, up 13.7 percent from 2010, according to a
study by research firm Investor Economics.
TORONTO, Feb 28 (Reuters) – The Canadian dollar hit a
one-week high against its U.S. counterpart and ended stronger on
Tuesday as a looming injection of cheap cash by the European
Central Bank boosted riskier assets and kept the U.S. dollar on
Risk appetite reigned as investors focused on the ECB’s
Longer Term Refinancing Operation (LTRO), an offer of cheap
money on Wednesday aimed at providing support for companies that
have been starved of investment funds.
Feb 28 (Reuters) – The Canada Pension Plan Investment
Board said on Tuesday its head of investments will take the helm
when its current CEO retires in June, preserving continuity as
the C$150 billion fund tries to cement its reach as one of the
world’s biggest dealmakers.
Mark Wiseman, executive vice president and head of
investments at the CPPIB, will take over as chief executive when
current CEO David Denison retires in June, the fund said.