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Canadian markets



Yahoo! Canada Finance: Canadian Markets News
TMX Group to reduce fees for securities trading at $1 or higher on TSX3/19/2010 7:54 PM

The Canadian Press - TORONTO - TMX Group Inc. (TSX:X) says it will reduce its trading fees for securities trading at $1 or higher on the Toronto Stock Exchange and the TSX Venture Exchange.


TMX Group cuts equity trading fees on Canada's TSE3/19/2010 7:23 PM

Reuters - NEW YORK (Reuters) - TMX Group Inc , the operator of the Toronto Stock Exchange, on Friday said it will reduce trading fees for securities trading at C$1 and higher on the TSE and the TSX Venture Exchange.


C$ tumbles from near 20-mth high on risk shift3/19/2010 3:13 PM

Reuters - TORONTO (Reuters) - The Canadian dollar nearly wiped out the week's gain against the U.S. currency in a volatile session on Friday, rattled by a global move away from riskier assets that took down the price of key commodities.


TSX closes down: commodities depressed as Greek debt crisis sends U.S. dollar up3/19/2010 3:05 PM

The Canadian Press - TORONTO - Commodity stocks led the way to a sharply lower session on the Toronto stock market Friday after uncertainty over the Greek financial crisis pushed the U.S. dollar higher, which in turn helped drive down prices for oil and metals.


TSX falls below 12,000 as commodities slide3/19/2010 2:56 PM

Reuters - TORONTO (Reuters) - Toronto's main stock index ended lower for a second straight session on Friday, dropping below the 12,000 mark as weak commodity prices hit heavily weighted petroleum and metal producers.


TSX slides into weekend3/19/2010 2:36 PM

Baystreet.ca - The Toronto stock market was negative Friday afternoon as uncertainty over the Greek debt crisis again pushed the American currency higher and helped send oil and gold prices lower.


TSX closes below 12,000 as commodities weigh3/19/2010 2:07 PM

Reuters - TORONTO (Reuters) - Toronto's main stock index finished below the 12,000 mark on Friday as weak commodity prices hit heavily weighted petroleum and metals producers.


TSX struggles3/19/2010 10:38 AM

Baystreet.ca - Bay Street stocks were lingering in the red in mid-morning deals Friday as a firm dollar put pressure on oil and gold prices.


Canadian dollar retreats as market backs away from risk3/19/2010 10:37 AM

Reuters - TORONTO (Reuters) - The Canadian dollar retreated against the greenback on Friday as support from unexpectedly strong inflation and retail sales data gave way to a global move away from riskier assets that took down the price of key commodities.


TSX dives below 12,000 as rate fears bite3/19/2010 10:18 AM

Reuters - TORONTO (Reuters) - Toronto's main stock index dived below the 12,000 mark on Friday morning as soft commodity prices hit petroleum and metals producers, and unexpectedly strong inflation data increased fears of higher interest rates.



Real estate news



Yahoo! News: Business - Real Estate
Great Wolf to offer $225M of mortgage notes (AP) 3/19/2010 3:15 PM
AP - Indoor waterpark resort company Great Wolf Resorts Inc. said Friday it plans to offer $225 million of first mortgage notes due 2017.
House GOP calls for Fannie, Freddie phase out (Reuters) 3/19/2010 2:42 PM
Reuters - Republicans in the House of Representatives on Friday recommended the country's top two mortgage finance companies, the recipients of a massive government bailout during the height of the financial crisis, be phased out in four years in order to restore stability to the housing market.
Mom of octuplets may lose home to foreclosure (AP) 3/19/2010 1:20 PM

FILE - This Jan. 26, 2010 file phot shows an unidentified woman carrying eight balloons towards the home of Nadya Suleman on the day of the octuplets first birthday, in La Habra, Calif. Octuplets mom Nadya Suleman could be kicked out of her Southern California home. The mortgage holder Amer Haddadin says he is starting foreclosure proceedings on this $565,000 La Habra residence, according to a report Friday March 19, 2010. (AP Photo/Nick Ut, File)AP - Octuplets mom Nadya Suleman could be kicked out of her Southern California home.


Anti-Flippers Buy And Hold Cheap Homes (Investor's Business Daily) 3/18/2010 3:45 PM
Investor's Business Daily - When Paul Gabrail and two partners snag a foreclosed home on the cheap, neighbors have good reason to cheer.
America's Most Underwater Housing Markets (U.S. News & World Report) 3/18/2010 3:09 PM
U.S. News & World Report - Negative equity--what you have when you owe more on your home loan than the property is worth--is one of the defining features of the still-unfolding mortgage crisis. It's a particularly nasty problem because it can lead to all sorts of unpleasant outcomes for the real estate market and the economy as a whole. Having negative equity, which is also known as being "underwater" on a mortgage, makes homeowners more likely to end up in foreclosure. It restricts a borrower's ability to refinance or buy another home, which in turn stifles demand for housing. ...
Greenspan says Fed did not fuel the housing bubble (Reuters) 3/18/2010 11:01 AM
Reuters - Former Federal Reserve Chairman Alan Greenspan, whose legacy has been tarnished by the global financial crisis, on Thursday laid out a scholarly defense of why Fed policy did not fuel the housing bubble.
Mortgage rates still below 5 percent (AP) 3/18/2010 9:16 AM
AP - Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows.
Fed's Bernanke sees U.S. backing Fannie, Freddie debt (Reuters) 3/17/2010 4:07 PM
Reuters - Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
CIBC wins dismissal of suit over subprime holdings (Reuters) 3/17/2010 1:57 PM
Reuters - A U.S. federal judge dismissed a shareholder lawsuit accusing Canadian Imperial Bank of Commerce and four executives, including Chief Executive Gerald McCaughey, of misleading investors about the bank's exposure to subprime mortgages.
Moving target: Goal for foreclosure aid in dispute (AP) 3/17/2010 1:52 PM
AP - Last year, the message was clear. Now it is murky.
Wells Fargo signs up for loan modification program (AP) 3/17/2010 12:15 PM
AP - Wells Fargo & Co. has become the second bank to sign up for a government program to modify second mortgages.
Bailout watchdog to audit gov't mortgage program (AP) 3/17/2010 11:12 AM
AP - The federal bank bailout watchdog is planning to scrutinize the formula used by mortgage companies to evaluate borrowers for the Obama administration $75 billion mortgage relief program.
Fannie Mae slashes mortgage investment forecast (Reuters) 3/17/2010 9:25 AM
Reuters - Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a "setback" in home sales, and warned on its impact on the economic recovery.
Welcome to Real Estate Investing 101 and 102 (BusinessWeek) 3/17/2010 6:08 AM
BusinessWeek - After the housing bubble nightmare, does it still make sense to invest in real estate?
Getting a Mortgage Without Perfect Credit (BusinessWeek) 3/17/2010 6:08 AM
BusinessWeek - The government keeps promoting programs designed to help existing homeowners refinance their mortgages at a lower rate, as well as get perspective buyers into homes. In other words, Uncle Sam says he's here to help. "Phooey," say homeowners and prospective homeowners, who keep complaining that it is ridiculously hard to get a mortgageor refinance one. Can both sides be right? Unfortunately, yes. But if you are willing to do a bit more work than in the past, it is possible to lower your mortgage rate to 5% or arrange to buy your first home. It is clear that there is pent-up demand to do both. ...
When Will Mortgage Rates Go Up? (BusinessWeek) 3/17/2010 6:08 AM
BusinessWeek - Over the last several months, I've written a lot about the current state of residential real estate, and the opportunities made available by the combination of lower housing prices and falling interest rates. As we approach the end of this year's residential real estate buying-and-selling season, this is a good time to start thinking about what might lie ahead.
Ex-exec testifies in KB Home fraud trial in LA (AP) 3/16/2010 6:45 PM
AP - A former executive of KB Home testified Tuesday against former chairman and Chief Executive Bruce E. Karatz, who is accused of bilking shareholders out of millions of dollars by backdating stock options.
Data show surge in consumer cases in fiscal 2009 (AP) 3/16/2010 6:09 PM
AP - The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures and downgraded debt ratings, data released Tuesday show.
PIMCO: End of mortgage buys form of tightening (Reuters) 3/16/2010 4:50 PM

Mohamed El-Erian, CEO of Pacific Investment Management Company (PIMCO), gives the keynote address at the Symposium on Interest Rate Risk Management in Arlington January 29, 2010. REUTERS/Jason ReedReuters - The end of the Federal Reserve's program of purchasing $1.25 trillion of mortgage-backed securities at the end of March is a form of tightening monetary policy, the chief of the largest U.S. bond fund manager said on Tuesday.


Snowstorm hits US housing market revival (AFP) 3/16/2010 8:10 AM

New homes under construction in February 2010 in Santa Clarita, California. Construction of new houses in the United States slumped in February on freezing temperatures across the nation, breaking a rally that spurred hopes of a rapid recovery for the battered sector.(AFP/Getty Images/File/David Mcnew)AFP - Construction of new houses in the United States slumped in February on freezing temperatures across the nation, breaking a rally that spurred hopes of a rapid recovery for the battered sector.



Financial news



Yahoo! Canada Finance: Finance News
Bulgarian police rally against planned salary cuts3/20/2010 12:53 PM

AFP - SOFIA (AFP) - About 2,000 Bulgarian police and other state employees rallied Saturday in Sofia against government plans to cut their salaries in a bid to balance the country's budget.


Lehman exec letter warned on misleading investors: report3/20/2010 11:39 AM

Reuters - CHICAGO (Reuters) - A former Lehman Brothers Holdings Inc executive warned months before the bank's collapse that senior management was potentially misleading investors and regulators about the value of the firm's assets, the Wall Street Journal reported on Saturday.


Chinese media hits out at Google, alleges intelligence links3/20/2010 10:57 AM

AFP - BEIJING (AFP) - Chinese media unleashed a torrent of criticism against Google on Saturday after reports it would leave the country, with state news agency Xinhua alleging the company was linked to US intelligence.


British Airways strike grounds flights but passengers fly3/20/2010 10:39 AM

AFP - LONDON (AFP) - British Airways (BA) cabin crew on Saturday began a three-day strike over pay and conditions which will ground hundreds of flights, but the airline said many of its passengers were able to fly.


Ex-IMF head urges insolvency mechanism for states3/20/2010 10:03 AM

Reuters - BERLIN (Reuters) - An insolvency mechanism should be set up for nations that are unable to manage their debts, Horst Koehler, Germany's president and a former head of the International Monetary Fund, said in an interview on Saturday.


Bharti board approves $9 billion offer for Zain Africa: report3/20/2010 10:02 AM

Reuters - NEW DELHI (Reuters) - The board of India's Bharti Airtel on Saturday approved a $9 billion offer for Kuwaiti telecom Zain's African assets, Bloomberg reported, citing two people with knowledge of the negotiations.


Fed Chairman Bernanke tries to makes case for Fed to retain role as watchdog of smaller banks3/20/2010 10:01 AM

The Canadian Press - WASHINGTON - Federal Reserve Chairman Ben Bernanke made a fresh pitch Saturday to retain oversight of small banks, contending that what the Fed learns from that role helps it assess the overall health of the entire U.S. financial system.


British Airways crew launches 3-day strike, forcing airline to cancel thousands of flights3/20/2010 9:51 AM

The Canadian Press - LONDON - Retiree Richard Moore arrived at Heathrow with a suitcase of summer clothes for a Miami cruise only to be sent to Denver. Susan Danby wondered if plans for a joint 50th birthday celebration in Las Vegas would be a losing bet.


Greek leader warns Berlin that EU at risk if no aid3/20/2010 9:45 AM

AFP - ATHENS (AFP) - Greek Prime Minister George Papandreou implicitly criticised Germany on Saturday for opposing efforts to help his country out of its fiscal crisis, warning they risked destabilising the EU.


Dubai Nakheel woes may help Islamic finance in time3/20/2010 8:08 AM

Reuters - DUBAI (Reuters) - The trillion dollar Islamic finance industry is looking beyond the troubles of Dubai developer Nakheel at possible reforms that could help draw more interest from Western players.


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