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Luxury rental costs rocket

Toronto’s hot property market is not only causing bidding wars among buyers,  renters are also feeling the heat as the lack of supply spills over into rental market, Mansion Global reports. The prices of luxury rentals in the largest Canadian city increased 8% in 2016 year-over-year, beating other key global cities in terms of pace […]

Parliament considers Brexit jobs crisis

As the hard truth starts to set over the dangers to the UK economy of losing hundreds of thousands of EU workers, a parliamentary committe has been hearing evidence from experts. London would “grind to a halt” without a continued flow of both high and low-skilled labour allowed into the country, said Colin Stanbridge chief […]

Toronto’s housing boom ‘unrelenting’

Prices in Canada’s largest city surged more than 20 percent over the past year, the fastest pace in three decades, data released last week show. Some of the city’s neighboring towns are posting even bigger gains. It’s become a matter of considerable alarm. Stability is one concern: if the market tumbles, so will Canada’s economy. […]

HNW Canadians ‘not ready’

When it comes to giving and receiving wealth, most high net worth Canadians are woefully unprepared to transfer their inheritance, with less than one-in-four having a full plan in place. Yet within a generation, an estimated $400 billion CAD is going to change hands. According to new research by RBC Wealth Management, conducted in collaboration […]

Canada’s wealth stagnates

A comprehensive measure of Canada’s national wealth shows it has been stagnant for decades and is too heavily dependent on housing and oil and gas, says a groundbreaking national report by the International Institute for Sustainable Development. This week’s federal government approval of two expanded oil export pipelines simply drives home the “imperative” that Canada […]

Tax makes foreigners disappear

Foreign investors dropped out of Vancouver’s property market last month after the provincial government imposed a 15 percent surcharge to stem a surge in home prices. Overseas buyers accounted for less than 1 percent of the C$6.5 billion ($5 billion) of residential real estate purchases between Aug. 2 to 31 in Metro Vancouver, according to […]

Canadian bank targets Chinese community

Canada’s newest federally chartered bank announced its launch last week, touting itself as the first institution of its kind specifically focused on the Chinese-Canadian community. Wealth One Bank of Canada aims to become the “preferred bank among Chinese-Canadians,” said CEO and president Charles Lambert. The statement announced the opening of Wealth One’s offices in Vancouver and the […]

Malom crooks get seven years

Two men were sentenced to more than seven years in federal prison on Wednesday for their roles in a multimillion-dollar investment scheme hatched in Switzerland. Anthony Brandel, 48, of Las Vegas and James Warras, 69, of Wisconsin also were ordered to serve three years of supervised release after prison. Senior U.S. District Judge Kent Dawson, […]