Business

‘Where are the Regulators?’: Shipping Stock Frenzy Likely to End on the Rocks

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Near-bankrupt shipping companies around the world are seeing their shares mysteriously rally this week, forcing Nasdaq on Wednesday to halt a number of stocks and request more information. DryShips Inc., an Athens, Greece-based company that hauls freight around the world on massive ocean-going tankers, has been at the center of the shipping frenzy. The company, which defaulted on three bank ...

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First-time Home Buyers Face Stressful Economics

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First-time buyers in Toronto’s hot property market must be wondering when they will catch a break. A second major bank announced Tuesday it was raising its mortgage rates — a day after the province introduced a tax refund designed to help first timers step on to the property ladder. Although the two events are unrelated and mortgage rates remain extremely ...

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TSX Strengthens as Crude Oil Prices Soar 5 Per Cent

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Canada’s biggest stock market strengthened Tuesday amid a rally in crude prices sparked by growing prospects that OPEC members will reach a deal on capping oil production later this month. In Toronto, the S&P/TSX composite index gained 157.65 points, or one per cent, at 14,756.10. Gold, energy and materials led advancers on the commodity-heavy exchange for a second day. The ...

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Donald Trump’s Pending Presidency Won’t Bode Well For Our Country and Wallets: Pape

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At 11 p.m. on election night, I switched over to watch Stephen Colbert’s live special on the U.S. Showtime network. I hoped to find a bit of levity within the gathering gloom. I was disappointed. Colbert, normally never at a loss for words, seemed as nonplussed as everyone else at the unfolding events. Not even one of the country’s brightest ...

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Mark Carney Might be the Most Important Person in Britain post-Brexit: Olive

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It’s not often that a person is called upon to navigate a major economy through rough seas. Mark Carney, governor of the Bank of England (BoE), has done so twice. And he will have done so three times if he can keep the U.K. economy stable during the divorce negotiations between Britain and the European Union. Those two years of ...

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Trump Win Makes Canadian Real Estate Look Even More Attractive

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Canadians should not expect a flood of president-elect Donald Trump exiles to further fuel the Toronto region’s hot housing market. But the shocking U.S. election could, at least in the foreseeable future, make our real estate an increasingly attractive investment, according to some experts. Many housing analysts wouldn’t predict the impact of Trump’s ascendancy. “It’s too early to know what ...

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Twitter Searches for New Finance Chief as COO Adam Bain Steps Down

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Twitter Inc. Chief Operating Officer Adam Bain, who built the company’s business model, is leaving just as the company works to address slowing revenue growth. Chief Financial Officer Anthony Noto will shift to Bain’s job, and the social-media company has started a search for a new finance chief, Twitter said Wednesday in a statement. Noto’s new responsibilities include global advertising ...

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Icahn Doubles Investment in Hertz as Stock Plummets

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After Hertz Global Holdings missed its earnings target by a long shot, investors dumped the rental-car company’s stock with one notable exception: Carl Icahn. The 80-year-old billionaire, already Hertz’s biggest shareholder, more than doubled his stake in a show of support for the rental-car chain and by extension for the boss he helped bring to power two years ago. John ...

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Tech Startups Revive Ann Arbor’s once-stagnant Downtown Core

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ANN ARBOR, Mich.—A patch of sidewalk on the south side of East Liberty St., four blocks from the main University of Michigan campus, has returned from the dead with remarkable speed. At almost any hour of day, and especially at mealtimes, a mix of bargain-seeking undergraduates, white-collar tech workers and middle-class townies weave in and out of the restaurants, coffee ...

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Telus third-quarter Profit Down Despite Revenue, Subscriber Growth

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VANCOUVER—Telus Corp. had a lower third-quarter profit despite higher revenue and continued subscriber growth, as expenses and accounting items took a bigger bite out of its earnings. The Vancouver-based telecom company’s net income fell to $355 million from $365 million in the third quarter of 2015. Its adjusted earnings were $383 million for the quarter ending Sept. 30, down from ...

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