China Vanke Co.’s profit tumbled more than analysts expected last year and it vowed to slash debt by almost $14 billion, as the embattled developer tries to stave off default amid a protracted housing crisis.
Home Depot Inc. said it would buy building-products distributor SRS Distribution Inc. for about $18.25 billion in a bid to bolster the company’s professional services business.
The European Central Bank will allow Greek banks to make their first shareholder payouts in over a decade as the country emerges from a painful post-crisis restructuring.
Trump presidency may drive Americans into Canadian real estate: Royal LePage CEO
Ian Vandaelle, chase producer, BNN Bloomberg
Donald Trump during his 2016 U.S. Presidential Election campaign
, The Canadian Press
Royal LePage Chief Executive Officer Phil Soper thinks some Americans will make good on their vows to move to Canada if Donald Trump is elected President. In an interview on BNN, Soper said a recession triggered by Trump’s social and economic policies could convince disenfranchised Americans to head north.
“Deporting eleven million workers and starting a trade war with China would place this tentative recovery in reverse,” he said on Tuesday. “If there was social unrest, you could see a material change in the desirability to leave: we’re next door.”
Soper said Americans with aspirations of moving to Canada in the event Trump takes the Oval Office will likely take a cautious approach, testing out the social fit in a new country by buying a secondary property.
“Where we might see a material change is, call it the ‘toe in the water’: you buy a cottage in Ontario or Alberta or British Columbia and you test something out,” he said.
Ultimately, Soper said demand may increase somewhat, but he doesn’t expect Americans to flock to Canada in droves.
“I think it could be material, but I’m not expecting a lineup at the border.”
HAVE YOUR SAY
What area of business and economic policy in the U.S. election matters to you most as a Canadian?