January 21st, 2017

Business

Starwood to buy Milestone Apartments assets in US$2.85-billion friendly deal

By The Canadian Press on January 19th, 2017

TORONTO – Milestone Apartments Real Estate Investment Trust (TSX:MST.UN) has signed a deal to be acquired by an affiliate of Starwood Capital Group in a transaction valued at US$2.85 billion. The Toronto-based trust’s portfolio includes 78 multi-family residential properties in the U.S. Southeast and Southwest regions, with a total of 24,061 apartment units. Starwood has ... Read More »

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US stock indexes tread water; bond yields climb

By Stan Choe, The Associated Press on January 19th, 2017

NEW YORK – Railroad stocks chugged higher Thursday, but drops for utilities and other companies that pay big dividends meant U.S. stock indexes dipped modestly. Treasury yields continued their upward march. KEEPING SCORE: The Standard & Poor’s 500 index fell 5 points, or 0.2 per cent, to 2,267 as of 11:15 a.m. Eastern time. The ... Read More »

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Galen G. Weston named CEO of George Weston, company his father led for decades

By The Canadian Press on January 19th, 2017

TORONTO – Galen G. Weston has been appointed CEO of George Weston Ltd., a business his father led for decades before stepping aside last year as part of a staged succession plan at the company that controls the Loblaw grocery chain. The younger Weston has been chairman of George Weston Ltd. (TSX:WN) since last September, ... Read More »

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US stock indexes still treading water; bond yields climb

By Stan Choe, The Associated Press on January 19th, 2017

NEW YORK – Railroad stocks chugged higher in early trading Thursday, but drops for utilities and other companies that pay big dividends meant U.S. stock indexes were treading water once again. Treasury yields continued their march higher. KEEPING SCORE: The Standard & Poor’s 500 index dipped 2 points, or 0.1 per cent, to 2,268 as ... Read More »

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Average US 30-year mortgage rate falls to 4.09 per cent

By The Associated Press on January 19th, 2017

WASHINGTON – Long-term US mortgage rates marked their third week of declines this week, after snapping a nine-week run of increases. Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans fell to an average 4.09 per cent from 4.12 per cent last week. That was still sharply higher than a 30-year rate that ... Read More »

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Perry says he regrets call to eliminate Energy Department

By Matthew Daly, The Associated Press on January 19th, 2017

WASHINGTON – Former Texas Gov. Rick Perry said Thursday he regrets his infamous statement about abolishing the Energy Department and insisted that the federal agency performs a critical function. Perry, President-elect Donald Trump’s choice to head the department, told a Senate committee that if confirmed, he will be a passionate advocate for the department’s core ... Read More »

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Aimia CEO takes 4-month medical leave, chief operating officer steps in

By The Canadian Press on January 19th, 2017

MONTREAL – Aimia Inc. (TSX:AIM) says its chief executive is taking a four-month leave of absence for treatment of an unspecified medical condition. During Rupert Duchesne’s absence, Aimia’s chief operating officer David Johnston will be interim CEO of the company. Aimia also announced Robert Brown, who has been chairman since 2008, will become executive chairman ... Read More »

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Quebec hikes minimum wage to $11.25 as of May 1

By The Canadian Press on January 19th, 2017

QUEBEC – The Quebec government is increasing the province’s minimum wage to $11.25 from $10.75. The hike will be effective May 1. Labour Minister Dominique Vien made the announcement in Quebec City this morning... Read More »

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Stockpiling just cash in a TFSA may hurt investors over the long term: experts

By David Hodges, The Canadian Press on January 19th, 2017

TORONTO – Financial planner Jason Heath’s mind boggles when he thinks about the high percentage of Canadians stockpiling what he calls “dead money” into tax-free savings accounts. “There’s a lot of average Canadians out there that have been led to believe that parking a few thousand dollars in a TFSA in cash, or a near-cash ... Read More »

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Appeals court affirms conviction of coal CEO in deadly blast

By The Associated Press on January 19th, 2017

CHARLESTON, W.Va. – A federal appeals court has affirmed the conviction of former Massey Energy CEO Don Blankenship in connection with the deadliest U.S. mine disaster in four decades. The Charleston Gazette-Mail (http://bit.ly/2iFc5wP) reports the 4th U.S. Circuit Court of Appeals handed down the opinion Thursday, saying it found no reversible errors in trial rulings. ... Read More »

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