HELOCs, refinancing helped fuel spending, Bank of Canada researchers say

HELOCs, refinancing helped fuel spending, Bank of Canada researchers say
OTTAWA — Research by staff at the Bank of Canada suggests Canadian homeowners who accessed their home equity through a loan or refinancing helped fuel household spending in recent years. The staff analytical note by several of the central bank’s researchers says household spending has moved in a similar direction to home prices over roughly the past decade, with both... Read More

Supreme Court says case against optical-drive makers over price-fixing can go on

Supreme Court says case against optical-drive makers over price-fixing can go on
OTTAWA — The Supreme Court of Canada has given the green light to a pair of British Columbia class-action suits alleging a global price-fixing conspiracy by electronics firms. The suits, filed by Whistler, B.C., businessman Neil Godfrey, allege the companies overcharged buyers of optical disc drives and products containing them, such as computers and video-game consoles. The cases, involving more than 40 defendants, including powerhouses such... Read More

Choice Properties REIT selling portfolio of 30 properties for $426 million

Choice Properties REIT selling portfolio of 30 properties for $426 million
TORONTO — Choice Properties Real Estate Investment Trust has signed a deal to sell 30 properties in mostly smaller communities across Canada for $426 million. The buyer was not immediately identified. The portfolio includes 27 stand-alone retail properties and three distribution centres. They have an average lease term of approximately 12 years with Loblaw Companies Ltd., an affiliated company. The buyer also has... Read More

Understanding weather risks for home insurance as premiums, coverage shift

Understanding weather risks for home insurance as premiums, coverage shift
TORONTO — As the immediate impacts of hurricane Dorian fade from the East Coast, its effects on home insurance profiles will linger on. The claims made by homeowners for storm-related damage are added to a long-term profile of their properties, which, like a credit report, creates an overall picture of risk that can sway how much they may have to pay in premiums, and potentially, if they... Read More

Bank of England holds rates amid acute Brexit uncertainties

Bank of England holds rates amid acute Brexit uncertainties
LONDON — The Bank of England has kept its main interest rate unchanged at 0.75% as rate-setters await developments on the Brexit front. The nine members of the Monetary Policy Committee all voted in favour of keeping rates unchanged. In a statement Thursday, rate-setters said developments related to Britain’s departure from the European Union — due on Oct. 31 —... Read More

Air Canada trails global peers in fee revenue, but Aeroplan poised to boost it

Air Canada trails global peers in fee revenue, but Aeroplan poised to boost it
MONTREAL — All those checked bags, seating upgrades and onboard snacks you pay for on Air Canada flights are starting to add up for the company. While the country’s biggest airline lags behind other global carriers in revenue from passenger fees, it is poised to catch up after its recent purchase of the Aeroplan rewards program, a new report says. Air Canada... Read More

You can pay your property taxes with Bitcoin in certain places (if you want to)

You can pay your property taxes with Bitcoin in certain places (if you want to)
Residents in a handful of Canadian municipalities have a new payment option for property taxes. The cities of Richmond Hill and Innisfil, both north of Toronto, have become the first in the country to accept cryptocurrency — a digital-based payment system operating without the central oversight of banks or credit card companies — for property tax payments. Other cities, including Toronto, have... Read More

Oil price jump linked to Saudi Arabian attacks sparks energy stock rally

Oil price jump linked to Saudi Arabian attacks sparks energy stock rally
CALGARY — Long-suffering Canadian energy company stocks were on track to post their best day in nearly three years after an attack on Saudi Arabian oil facilities on the weekend sent oil prices soaring. The index that tracks energy company share prices on the Toronto Stock Exchange was up as much as 11 per cent just before noon Monday, led by... Read More