Andrea's Feed
Aug 15, 2013

SEC bars Conrad Black from U.S. directorships

By Andrea Hopkins

(Reuters) – The U.S. securities regulator on Thursday banned former press baron Conrad Black from acting as a director of a U.S. company and said he must pay $4.1 million in restitution in a settlement that ends a long-standing lawsuit over Black’s dealings as the head of the Hollinger media empire.

In its heyday, Hollinger International operated a raft of newspapers that included the Chicago Sun-Times, the Jerusalem Post, Britain’s Daily Telegraph and the National Post in Black’s native Canada. Black, 68, gave up Canadian citizenship when he became a member of Britain’s House of Lords.

Aug 15, 2013

Canadian home sales edge up, housing starts to stabilize

TORONTO, Aug 15 (Reuters) – Sales of existing homes in
Canada edged up in July from June and were much higher than a
year earlier, the Canadian Real Estate Association (CMHC) said
on Thursday in a report that suggested the housing market has
leveled off after a spring surge.

The industry group for Canadian real estate agents said
sales were up 0.2 percent in July from the month before. Actual
sales for July, not seasonally adjusted, were up 9.4 percent
from a year earlier.

Aug 14, 2013

Canadian home prices rose 0.7 pct in July from June -Teranet

TORONTO, Aug 14 (Reuters) – Canadian home prices rose in
July from June to an all-time high, but the modest monthly gain
suggests the robust housing market may be cooling again,
according to data from the Teranet-National Bank Composite House
Price Index on Wednesday.

The index, which measures price changes for repeat sales of
single-family homes, showed overall prices rose 0.7 percent in
July from a month earlier, the fifth straight monthly gain but
on the low side of typical summer housing strength.

Aug 9, 2013

CPPIB may make fewer deals as investors overpay-Wiseman

TORONTO, Aug 9 (Reuters) – Private equity probably offers
North America’s best investment opportunities at present, one of
Canada’s biggest dealmakers said on Friday, but investors are
likely wrong to assume that global markets have returned to
normal.

The head of Canada Pension Plan Investment Board said he was
prepared to walk away from future deals if pricing gets too
aggressive.

Aug 6, 2013

Canada tightens mortgage lending rules to cool housing market

TORONTO, Aug 6 (Reuters) – Canada’s federal housing agency
took small step to tighten mortgage lending in 2013, limiting
guarantees it offers banks and other lenders on mortgage-backed
securities in another attempt to keep a lid on the country’s
robust housing market.

The move by the Canada Mortgage and Housing Corp may drive
mortgage rates up by a small amount as banks and other big
lenders are shut out of an inexpensive way to issue loans and
have to take on more risk themselves at a time when some say
Canada’s housing market is overheated.

Jul 30, 2013

TD Bank warns of insurance loss due to weather claims

Toronto, July 30 (Reuters) – Toronto-Dominion Bank
, Canada’s second-largest lender, said it will take a
third-quarter charge after tax of C$418 million ($406 million)
due to recent severe weather in Alberta and Ontario and to boost
its reserves for auto insurance claims.

The weather-related hit on TD’s insurance and mortgage
lending business was largely shrugged off by investors and
analysts as a widely expected one-time expense. But its move to
strengthen reserves on auto insurance claims suggested the
business may not be as profitable as the bank would like.

Jul 29, 2013

Canadian investors look south for growth

TORONTO, July 29 (Reuters) – Dean Owen has been trying to
talk his Canadian clients into shifting to U.S. equities for
months, with only limited success. With slow growth expected at
home, he says it is more important now as the U.S. economy gets
stronger.

“U.S. consumers are getting out of debt and making sure they
have a comfort zone before they start buying, but they will
start buying,” said Owen, a personal financial planner at Cherry
Financial Services in Saskatoon, Saskatchewan.

Jul 23, 2013

Canadian advisers struggle with sidelined cash

TORONTO, July 23 (Reuters) – When financial adviser Lee
Helkie sits down with clients who are afraid to invest their
money, she walks the same uphill path her peers have faced since
2009: how to get investors off the sidelines before it is too
late.

“People aren’t aware that markets have rallied, and the fear
is still there because the news of the economy is so prevalent,”
said Helkie, an 18-year industry veteran at Helkie Financial &
Insurance Services in Toronto.

Jul 15, 2013

Loblaw bid for Shoppers would expand Weston family empire

TORONTO (Reuters) – The bid by Canada’s largest grocer for its largest pharmacy chain is just the latest move by the Weston family, Canada’s second-richest clan, to expand a food and clothing empire that began 131 years ago with a Toronto bread factory.

The C$12.4 billion friendly bid from the Weston family’s Loblaw Companies Ltd for Shoppers Drug Mart Corp would add another jewel to a crown that already includes Selfridges and Fortnum & Mason in Britain, upscale retailers like Holt Renfrew in Canada and Brown Thomas in Ireland, and bakeries and groceries across North America.

Jul 12, 2013

Canada home prices rose 1.0 pct in June from May – Teranet

TORONTO, July 12 (Reuters) – Canadian home prices rose in
June from May as a seasonal uptick in sales pushed prices to an
all-time high, but the annual price increase was the smallest in
more than three years, the Teranet-National Bank Composite House
Price Index showed on Friday.

The index, which measures price changes for repeat sales of
single-family homes, showed overall prices rose 1.0 percent in
June from a month earlier and were up in every major Canadian
city.