By Jennifer Wells Business Columnist Thu., Dec. 27, 2018 JANUARY “Effective January 1, 2018 we will no longer be able to provide the benefit of paid breaks.” Happy post-holidays. The new year greeted workers at multiple Tim Hortons franchises with the grim realization that the minimum wage increase to $14 an hour introduced by the Kathleen Wynne government would be offset by the cancellation of paid, er, Timmies breaks. Protestors came up with catchy lyrics (“Hold the sugar, hold the cream, Tim Hortons, don’t be mean”), the premier called out a franchisee for being a bully, and consumers lamented that the coffee company, owned by a Brazilian conglomerate, sure didn’t feel very Canadian anymore. “If we’re successful this year then we’ll end 2018 on a much better trajectory.” That was a hopeful Mark Zuckerberg in a Jan. 4 Facebook post. The previous year had been unsettling, to say the least. … [Read more...] about The Year of Living Ashamedly: Boardroom bullies and boys behaving badly
Banks offering 40 year mortgages
Banks are keen to offer low-rate mortgages at this year's Money Expo, ahead of the Bank of Thailand's tighter mortgage regulations coming into force next April.State-owned Government Savings Bank (GSB) is offering a zero-rate mortgage refinancing for the first six months, with an average 3% rate for the first three years at the five-day Money Expo, which runs through Sunday. Bank of Ayudhya is offering a mortgage with a 0.5% rate for the first three months and a 50% discount on the appraisal fee for those who apply at the expo. Kasikornbank's mortgage product at the fair has a rate averaging 3.75% for the first three years, while Siam Commercial Bank (SCB) -- the country's largest mortgage lender -- is offering a 30-year loan maturity and a mortgage fee waiver.SCB is also providing maximum credit of 20 million baht for its home-for-cash product. GH Bank is offering a mortgage with a 0.99% interest rate for the first four months at the expo. The state-owned housing lender's mortgage … [Read more...] about Banks offer mortgages ahead of rejig
By Robb Engen Special to the Star Tues., Aug. 14, 2018 When my wife and I bought our home in 2011 we chose a five-year variable rate mortgage that came with a deep discount of prime minus 0.80 per cent. The same deal wasn’t available when it came time to renew in 2016, so we went with a two-year, fixed-rate mortgage at 2.19 per cent. Our mortgage is up for renewal again this September and, in the face of rising interest rates, we must decide whether to go with a fixed- or variable-rate mortgage. We’re not alone with this mortgage decision. A CIBC report estimated that nearly half of all existing mortgages in Canada needed to be refinanced in 2018. Adding weight to this decision is a new stress test for both insured and uninsured mortgages where homeowners must prove they can handle payments at the greater of the Bank of Canada’s five-year benchmark rate (currently 5.34 per cent) or their contractual mortgage rate plus two percentage … [Read more...] about My mortgage is up for renewal: Should I go fixed or variable?
State-owned GH Bank has rolled out a low-rate mortgage package charging 2.90% interest for the first two years in an effort to boost the bank's housing loan demand. The bank has set aside 5 billion baht for cheap mortgages, which charge borrowers 3.85 percentage points below the minimum retail rate (MRR) for the first two years, equivalent to 2.90% based on GH Bank's current MRR of 6.75%.The bank charges an MRR minus 1 percentage point for those who work at companies that have contracts with the bank and MRR minus 0.50 percentage points for general borrowers, president Chatchai Sirilai said.The package's borrowers are subject to waivers of the origination fee of 0.1% of the borrowing amount, the appraisal fee, a 1,000-baht registration and transaction fee, and a mortgage fee of 1% of the borrowing amount.The bank offers up to 40 years for the loan's term, he said.If applicants want additional housing loans, the MRR is charged.The loan is available from Feb 10 for those who complete the … [Read more...] about GH Bank sets cheap loans
While 2017 was a down year for fixed income, currency, and commodities (FICC) desks, the hiring landscape has some bright spots, according to top recruiting firm Options Group. It’s a mixed bag though, and the outlook is still bleak for hiring in government bonds and high-grade debt. Most new hires are getting 20% jumps in compensation to switch to a new firm, while exceptional hires in some sectors are commanding as much as 50%. 2017 was a rough year for Wall Street bond traders – with low volatility and decreased demand leading to revenue slides across the industry. But despite the second down year in a row for fixed income, currency, and commodities (FICC) sales and traders, the hiring outlook in 2018 has some silver linings, according to new report from Options Group, one of Wall Street’s top recruiting firms. Namely, there’s optimism around the fresh tax reform law, which “could … [Read more...] about A top Wall Street recruiting firm just published its hiring outlook for debt traders following a disastrous year in 2017— and it’s not all bad