TORONTO, June 11 (Reuters) – Talking about Toronto’s condo
craze has become something of a sport for residents of Canada’s
largest city, where soaring real estate prices and a forest of
construction cranes have fed speculation of a real estate
But the big question is how much of the market is fueled by
cash-rich foreign investors, and whether they, seeking to
capitalize on more than a decade of rising prices, are
preventing the market from a soft landing.
TORONTO, June 8 (Reuters) – Canadian housing starts slowed
as expected in May after a red-hot April, retreating to the
average of the last six months in a sign the nation’s bubbling
housing market is beginning to cool, analysts on Friday.
The seasonally adjusted annualized rate of housing starts
was 211,400 units, compared with a 243,800-unit pace in April,
according to a report by the Canada Mortgage and Housing Corp.
The April figure was revised down from 244,900 units reported
(Reuters) – The gunman chose a busy downtown Toronto shopping mall to carry out the 21th murder of the year in Canada’s largest city.
While the reckless shooting shocked a city that prides itself on its civility, visitors to the Eaton Centre mall on Monday insisted that Saturday’s incident was most unCanadian, tied to foreign guns, immigrants and gangs.
TORONTO, May 25 (Reuters) – Canadian home prices climbed 5.2
percent in April from a year earlier, boosted by strong gains in
the Toronto market as well as increases in Vancouver and
Calgary, the Canadian Real Estate Association (CREA) said on
The rise in the industry group’s home price index for April
compared with a 5.1 percent year-on-year gain in March.
May 17 (Reuters) – The Canada Pension Plan Investment Board,
a n aggressive g lobal dealmaker, notched smaller investment gains
in 2012 as markets sagged but said it sees more opportunities
than ever in 2013 as hard-pressed governments and companies seek
partners with cash.
CPPIB, which manages Canada’s national pension fund, said on
Thursday its assets rose to a record C$161.6 billion ($160.2
billion), making it the seventh-largest pension fund in the
world, as its investment portfolio returned 6.6 percent for the
year ended March 31.
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