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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
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Crown jewels including resorts and a gas station chain are up for grabs. Saudi Arabia mulls purchases.
(Bloomberg) -- China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected growth early this year might be tough to maintain.
New York Community Bancorp Inc. has had one of the most tumultuous quarters in recent banking history. Its first-quarter earnings will probably reveal more about impacts from the drama — and management’s plan to move forward.
Donald Trump’s longtime personal assistant, who worked for his real estate empire for decades, told a jury that she has a “vague recollection” of seeing Stormy Daniels at Trump Tower sometime before 2015.
The delinquency rate for US small businesses climbed to a three-year high this month, reflecting the impact of rent spikes and declining revenue, according to a monthly survey.
Mar 14, 2017
The Canadian Press
TORONTO -- Canadian home prices posted a record jump for the month of February, fuelled by the Toronto, Hamilton and Vancouver markets.
The Teranet-National Bank national composite house price index gained 1.0 per cent for the month, the largest February increase in the 18-year history of the index.
Toronto soared a record 1.9 per cent, while Hamilton gained 1.4 per cent, also a record increase. Vancouver added 1.4 per cent.
However the story wasn't the same across the country as seven of the 11 major cities tracked posted a drop for February. Halifax slipped 1.9 per cent, while Calgary fell 1.3 per cent.
Compared with a year earlier, the index was up 13.4 per cent, the largest 12-month increase since 2006.
The year-over-year jump was due to a record 23.0 per cent increase in Toronto and a 19.7 per cent gain in Hamilton, also a record.
National Bank senior economist Marc Pinsonneault said the Toronto market was "especially worrisome."
"In a city where apartments account for only 26 per cent of home sales, affordability of other types of dwellings has become an acute problem," he wrote in a note.
However, he noted that there are regional differences.
"In order to accurately assess the Canadian home resale market, it is essential to recognize the dichotomy between markets like Toronto, Hamilton and Victoria, where price growth is in the double digits, and other markets where the progression of home prices has been much more moderate, if not negative," Pinsonneault wrote.
A red-hot housing market in Toronto has raised concerns in recent months and prompted talk about a foreign buyers tax like the one instituted in Vancouver.
The B.C. government brought in a 15 per cent tax on foreign buyers last August.
Prices in Vancouver, while up in February compared with a year ago, are off their highs set in September as measured by the Teranet-National Bank index. The number of sales in the city has also decreased.
The price index came one day ahead of the latest home sales figures from the Canadian Real Estate Association expected Wednesday.