archiveINDS08

Mortgages

Surging bond yields add to Canadian homeowners’ mortgage pain as renewals loom

TORONTO, Oct 7 (Reuters) - The roughly 75,000 Canadian homeowners awaiting mortgage renewal notices next month are bracing for a shock interest rate jump due to a surprise rise in global bond yields, which will further squeeze already tight household budgets.In Canada, homeowners can take out five-year mortgages, unlike in the U.S. where customers can snag a 30-year mortgage. This means many Canadians who locked into sub 2% fixed-rate mortgages five years back are preparing for renewal letters with a steep rise in interest rates, made worse by the bonds...
Finance

Macquarie weighs sale of stake in UK offshore wind farm Race Bank -sources

LONDON, Oct 6 (Reuters) - Macquarie (MQG.AX) is considering selling its 25% stake in Race Bank, a 573 megawatt offshore wind farm located off Britain's Norfolk coast, according to two sources with knowledge of the matter.The infrastructure group is working with advisors on the sale, which could value the wind farm at up to 3 billion pounds ($3.66 billion), one of the people said. Race Bank started production in 2018 and provides enough power for the equivalent consumption of more than 510,000 homes, according to the website of Orsted (ORSTED.CO),...
Banking

Red Bull loses bid to suspend EU decision on antitrust raid

FILE PHOTO: European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo Acquire Licensing RightsBRUSSELS, Oct 2 (Reuters) - Austrian energy drinks maker Red Bull has lost its bid to get Europe's second highest court to suspend an EU antitrust decision that underpinned a raid on the company for alleged anti-competitive practices.The European Commission raided the company in March on concerns that it may have violated EU antitrust rules against cartels and abuse of a dominant position.Red Bull subsequently challenged the raid...
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