Industry

Briefly: “More than 200 U.S. hedge funds close” and more news

Between the bear market run on the stock market and the Bernard Madoff Ponzi scheme scandal, the American hedge fund industry has come under heavy pressure. While politicians clamour for more regulation of the industry, the funds themselves are blowing up. Last year, more than 200 hedge funds or fund families either began to liquidate […]

By Staff |March 18, 2009

3 min read

Toronto’s future as a financial capital

Strolling through a community fair in upper New York State during summer 2006, a Canadian journalist encountered a booth festooned with banners advertising easy availability of mortgages and asked for information. “These are what are known as sub-prime mortgages,” the booth attendant said. “They’re for people who have trouble getting ‘regular’ mortgages.” The journalist remarked […]

By Al Emid |March 17, 2009

4 min read

Briefly: “U.S. housing starts jump” and more news

American housing starts rebounded sharply in February, surprising most analysts with a 22% increase, to a seasonally adjusted annual rate of 583,000. Benjamin Reitzes, economist at BMO Economics, called the increase in multiple-family dwellings “unsustainable” at 82.3%. “Despite the big increase in starts, the average of the first two months of Q1 remains well below […]

By Staff |March 17, 2009

3 min read

Fund industry rallies against Ontario tax proposal

Canada’s mutual fund industry is concerned a proposal to harmonize the province’s sales tax with the federal GST would unfairly punish the industry and investors who use its products. The Ontario Liberal government has openly mused about harmonizating its 8% PST with the 5% GST, which would allow the ailing manufacturing sector and struggling local […]

By Mark Noble |March 16, 2009

4 min read