Housing correction is underway warns report
Some of Canada’s cities have already begun to see some correction in the housing market according to the Teranet National Bank HPI for February.
Household debt edges higher again
The level of household debt in Canada rose to 163.3 per cent of disposable income in the fourth quarter of 2014.
Penn West cuts dividend as revenues fall
Oil producer Penn West has cut its dividend from 3 cents per share to 1 cent amid falling revenues; losses widened to $1.77 billion in the last quarter of 2014.
Canada’s TV given more freedom to compete with online
The ability of Canada’s traditional TV to compete with the growing challenge of online services was given a boost today.
Investors want to put cash into ethical businesses
Businesses that operate ethically are increasingly likely to get investment from Canadians according to a study by the Responsible Investment Association.
Daily Market Update
Wall St. lower on Fed rates; World markets trending higher... Dollar fever could dominate says Reuters... Banks fail Fed stress test... Taxpayers warned to claim repayments from IRS or lose them... Alibaba has invested $200 million in Snapchat...
TSX stabilises as oil rebounds
The Toronto Stock Exchange has enjoyed a better day’s trading after benchmark Brent crude rebounded.
Car rental firms probed by regulators
Car rental firms Avis and Budget are being investigated by Canada’s Competition Bureau over claims that they advertise fees that are much lower than the actual amount due, once other charges are added on.
Valeant deal trumped by UK competitor
Valeant Pharmaceuticals deal to buy bowel-drug maker Salix may be trumped by another offer from UK firm Endo International.
Quebecor announces improved profits
Quebecor has announced that its adjusted income for its fourth quarter were up 3.5 per cent from a year earlier to reach $50.3 million amounting to profit per basic share of 41 cents.