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BMO lowers 5-year mortgage rate to 2.99%
Good news if you're in the market, but rates this low have set off alarm bells in the past, Havard Gould reports
Good news if you're in the market, but rates this low have set off alarm bells in the past, Havard Gould reports
Morgan Stanley's infrastructure investment arm informed the board of German renewables firm PNE AG that it is no longer pursuing talks with potential buyers of Photon's PNE stake, PNE said in an adhoc statement on Friday. Morgan Stanley Infrastructure Partners (MSIP) which acquired the PNE stake following a failed takeover attempt in 2020, was weighing a sale last October, Reuters reported at the time. Photon, which is controlled by Morgan Stanley, is PNE's largest shareholder.
TORONTO — Rent prices in Canada grew at a record pace last year as the country saw the lowest vacancy rate since 2001, the Canada Mortgage and Housing Corp. said. In a report released Thursday, the federal housing agency said the average rent for a two-bedroom purpose-built apartment, which it uses as its representative sample, grew 5.6 per cent to $1,258 compared with the previous 12-month period. The CMHC said this increase is a new annual high in data going back to 1990. The report also said
Core consumer prices in Japan's capital, a leading indicator of nationwide trends, rose 4.3% in January from a year earlier, marking the fastest annual gain in nearly 42 years and keeping the central bank under pressure to phase out economic stimulus. While the government's energy subsidies starting next month will likely moderate price gains from February, the data heightens the chance that inflation will stay well above the Bank of Japan's 2% target in coming months as companies continue to steadily pass on higher costs to households. The rise in the Tokyo core consumer price index (CPI), which excludes fresh food but includes fuel, exceeded a median market forecast for a 4.2% gain and marked the fastest year-on-year increase since May 1981.
TOKYO (Reuters) -Toyota Motor Corp chief Akio Toyoda is set to remain a dominant force inside the world's largest automaker for years to come, and will continue to influence the agenda after stepping down in April, experts and people familiar with the firm said. The 66-year-old Toyoda on Thursday announced he would step aside as leader of the company his grandfather founded from April 1 to take the role of chairman. In recent years Toyota has become a target of activists and green investors who had once heralded its hybrid technology, but who now slate its belated embrace of electric vehicles (EVs).
VANCOUVER — Canfor Corporation says as many as 157 employees face layoffs in one northern British Columbia town, but the company says it's too early to estimate job losses in a second community as the forest products firm restructures its B.C. operations. Canfor announced Wednesday that it is permanently closing its sawmill and pellet plant in Chetwynd, west of Dawson Creek, and shuttering its sawmill in the Bulkley Valley town of Houston for an unspecified period while it builds a new facility
WASHINGTON (Reuters) -Tesla Chief Executive Elon Musk met two top White House officials on Friday in Washington to discuss how the car maker and Democratic President Joe Biden could work together to advance electric vehicle production and speed electrification of U.S. vehicle networks. Musk met John Podesta, a Democratic stalwart who serves as Biden's senior adviser for clean energy innovation, and Mitch Landrieu, who oversees infrastructure spending, the White House said.
NEW DELHI (AP) — Shares in India’s Adani Group plunged up to 20% on Friday and the company said it was considering legal action against U.S.-based short-selling firm Hindenburg Research for allegations of stock market manipulation and accounting fraud that have led investors to dump its stocks. The heavy selling of Adani-linked shares, which wiped out billions of dollars worth of market value for India's second-largest conglomerate, caused trading in some Adani companies to be suspended or tempo
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VANCOUVER — More than 100 workers in Port Alberni are the latest forest industry employees to face layoffs as Western Forest Products confirms it will not restart its sawmill in that Vancouver Island city. The Alberni-Pacific Division facility has been closed since last fall, but the curtailment was only expected to last for six months, unless market conditions changed. Western Forest Products announced Thursday that the mill will not restart "in its current configuration" and says a group, incl
German arms maker Rheinmetall had a record year in 2022 and is approaching an order backlog of 30 billion euros, CEO Armin Papperger told Reuters in an interview. "We are approaching an order backlog of 30 billion euros, and I expect to see an order backlog of 40 billion euros next year," said the CEO of the company, which sells a whole range of defence products but is probably most famous for supplying the 120mm gun of the Leopard 2 tank. Papperger said he expected to see at least 15% to 20% growth in Rheinmetall's defence division over the coming years, with the civilian business likely to account for only 20% of sales in 2025.
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Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance hinted at softening demand but also economic resiliency ahead of next week's Federal Reserve monetary policy meeting. All three major U.S. stock indexes ended the session green, with the Nasdaq, powered by megacap momentum stocks, enjoying the biggest gain. From last Friday's close, the S&P and the Dow posted their third weekly gains in four, while the tech-laden Nasdaq notched its fourth straight weekly advance.
Ottawa's inconsistent commitment to fiscal prudence is beginning to trouble some members of the Liberal family
NEW DELHI (Reuters) -Air India will on Friday seal half of an order for some 495 jets with Boeing and engine suppliers General Electric and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals. After months of closely guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 MAX narrowbody planes as well as some 20 Boeing 787s and 10 Boeing 777X on a day marking one year since Tata Group took control of the former state-run carrier, two sources told Reuters.
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Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop") is pleased to announce the results of two additional core holes drilled in Megapozo designed to connect two areas of high-grade mineralization. Megapozo is one of thirteen high-grade shoots of Outcrop Silver's 100% owned, high-grade Santa Ana silver project in Colombia.
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Federal prosecutors are trying to prohibit FTX founder Sam Bankman-Fried from privately contacting current and former employees of the bankrupt cryptocurrency exchange to prevent potential witness tampering in a criminal case accusing him of bilking investors and customers. The request, made in a letter filed late Friday by U.S. Justice Department lawyers, prompted an indignant response from Bankman-Fried's lawyer, who accused prosecutors of twisting the facts to cast the FTX founder in a sinist
Full-year 2022 US housing starts and new home sales data has been released and while the dampening effects of rising mortgage rates remain, the numbers for December show a slight uptick. In 2022 the US began building 1.55 million homes, just a -3% drop from full-year 2021. Single-family starts in 2022 totalled 1.01 million, down -10.6% from the previous year.
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