Fairfax Financial’s Evolution to Global Player

Markel Financial, a specialty underwriter of trucking insurance in Canada, looked as though it may fail by 1985. The three-decade-old company had underpriced its policies and it caught up with it in 1984 when it lost C$4.8 million…

Business News

Fairfax Financial’s Evolution to Global Player

Markel Financial, a specialty underwriter of trucking insurance in Canada, looked as though it may fail by 1985. The three-decade-old company had underpriced its policies and it caught up with it in 1984 when it lost C$4.8 million - about two-thirds of its beginning capital. Prem Watsa and…

Berkshire Hathaway Takes Substantial Stake in Canada’s Home Capital Group

Home Capital Group, the largest unsecured mortgage lender in Canada, has agreed to an investment by Berkshire Hathaway in an effort to put recent troubles behind it. Those troubles began in May when the Ontario Securities Commission accused the lender of not disclosing an internal probe into mortgage…

Sears Canada to File for Bankruptcy

The woes befalling American department store owners are also punishing their Canadian counterparts. In one of the strongest signs yet of the challenging future of Canadian department stores, Sears Canada has announced it will seek creditor protection and will likely be liquidated. Unlike most bankruptcies, Sears Canada did…

Nestle to Sell U.S. Confectionery Business

A core part for years of the Nestle food empire, the company announced that it is putting its U.S. candy business up for sale. The unit sells chocolates under the brands Crunch, Butterfinger, and Baby Ruth. Its annual sales are $920 million, which is 3% of the total…

Amazon Buying Whole Foods for $14 billion

Amazon unexpectedly announced this morning that it is paying $13.7 billion for Whole Foods in a move that is certain to dramatically shake-up the supermarket and grocery market in the United States. The stores will continue to be branded as "Whole Foods" and Amazon CEO Jeff Bezos said…

Economics News

When PIIGS Fly

Leaders in their respective countries may not be happy about it, but the acronym "PIIGS" by currency traders to reference Portugal, Ireland, Italy, Greece, and…

The Retreat of Western Liberalism: A Conversation with Edward Luce

Edward Luce is the Washington bureau chief and widely-read commentator for the Financial Times, which he joined in 1995, and the author of three books:…

U.S. Industrial Production in May Unchanged from April

The Federal Reserve announced yesterday that U.S. Industrial Production in May held steady from its April level. The index measures the output of manufacturing, mining, and…

Will Yellen Be Replaced as Chair of Federal Reserve?

Janet Yellen became the first woman to Chair the Federal Reserve, the United States' central bank when she was sworn in after Ben Bernanke's retirement…

May Wholesale Prices Unchanged in U.S.

Wholesale prices remained unchanged in May according to the Labor Department. It had risen by 0.5% in April and despite being unchanged in May from…

Equities

Can Seritage Find Life After Sears?

When Seritage Growth Properties was spun out of Sears Holdings in 2015, it had two forces working against it - a large portion of their leases…

Macy’s Assets Continue to be Overlooked

This is no time to be a retailer on Wall Street. A plethora of leading retail brands has met with derision from investors, who fear…

Buffett Doubles Apple Stake, Adds to Airlines

The Securities and Exchange Commission (SEC) rather mundanely requires asset managers with $100 million or more in assets to disclose their holdings quarterly in a…

Currencies

Why Some People Use A VPS To Trade Forex

A virtual private server, or VPS in short, is a server that appears as a…

ECB Sees Stronger Growth, but Not Strong Enough to Withdraw Stimulus

The European Central Bank raised its 2017 growth forecast for the European Union from 1.8%…

Switzerland’s GDP Growth Dissapoints

Switzerland's fourth quarter GDP growth was only 0.1% annualized between Q3 and Q4 of this…

M & A

Nestle to Sell U.S. Confectionery Business

A core part for years of the Nestle food empire, the company announced that it…

Chemical Companies Huntsman and Clariant to Merge

In one more sign of consolidation in the chemicals industry, American Huntsman is set to…

Sinclair Broadcasting to Buy Tribune Media for $4 billion

Sinclair Broadcasting is buying rival television station operator Tribune in a $4 billion deal. The…

Unemployment

U.S. Employment Growth Weakens in May

The United States economy created 138,00 jobs in the month of May while the unemployment rate ticked lower from 4.4%…

US Non-farm Payrolls Increase by 211,000 in April

After a tepid March report, US employment accelerated in April with 211,000 jobs created according to the Bureau of Labor…

General Motors Set to Layoff 625 Employees Amid NAFTA Waves

Reports indicate that auto maker General Motors is set to layoff over 600 employees in an Ontario plant amid recent…