TORONTO, Oct 31 (Reuters) – Canada’s federal housing agency
has bumped up its forecast for housing starts in 2013 but
trimmed its forecast for 2014, setting an essentially flat
outlook for a once-roaring market.
The Canada Mortgage and Housing Corp said on Thursday
housing starts will be in a range of 179,300 to 190,600 units in
2013, with a point forecast, or most likely outcome, of 185,000.
That is up from its August estimate of 182,800.
TORONTO, Oct 28 (Reuters) – Canadian financial advisers have
watched regulators around the world ban embedded fees on popular
products like mutual funds, but the slow pace of change in
Canada has left them lobbying hard to preserve a profitable
While Canada’s relatively high fees on financial products
were long overlooked when the economy boomed, low returns and
the advent of low-cost products like exchange-traded funds
(ETFs) have spurred calls for reform.
TORONTO (Reuters) – The Bank of Canada’s surprising signal on Wednesday that it will not raise interest rates any time soon will lift the housing market and give indebted households breathing room, but it leaves many apprehensive there will be a hard reckoning.
Canada sidestepped the worst of the financial crisis because it avoided the real estate excesses of its U.S. neighbor, and a post-recession housing boom helped it recover more quickly than its Group of Seven peers.
TORONTO, Oct 10 (Reuters) – When Canada’s big pension funds
started to diversify out of stocks and bonds, they turned to
real assets in a bid for better returns. But buying real estate,
infrastructure and commodities isn’t just for big players
anymore, and Canadian asset managers are offering them to
After years of putting inflation worries on the back burner
because global growth is subdued and interest rates are at
historic lows, money managers are rolling out more products
aimed at protecting against inflation and spreading risk.
TORONTO, Oct 8 (Reuters) – Canadian housing starts rebounded
in September as multi-family construction surged, and the
unexpectedly strong end to the summer suggested homebuilding
will be less of a drag on Canada’s economic growth than
The seasonally adjusted annualized rate of housing starts
was 193,600 units last month, up from an upwardly revised
184,000 in August, data from the Canada Mortgage and Housing
Corp showed on Tuesday.
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
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.
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
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
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.
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.
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.