After two years leading the Commerce Department’s U.S. and Foreign Commercial Service (USFCS), Assistant Secretary for Trade Promotion Suresh Kumar announced his decision today to return to the private sector.The USFCS, which is part of Commerce’s International Trade Administration, is a global network of trade specialists with offices across America and in more than 70 countries around the world. The organization’s job is to help connect U.S. companies looking to sell their products overseas with foreign buyers.
ShutterstockWhile the Vancouver real estate market takes a moment, Toronto real estate showed no sign of slowing down. The latest statistics from the Toronto Real Estate Board (TREB) showed higher prices, strong demand for detached homes, and inventory continued to shrink.
Chesapeake Energy Corporation (NYSE:CHK), one of the largest natural gas producers in North America, is struggling to cope with the downturn in energy sector as its huge debt load has exacerbated the situation. 2015 was a disastrous year for the energy sector as crude oil and natural gas prices collapsed to multi-year lows.
KARL SMITH has written a provocative blog post this morning musing on the potential return of a housing bubble. The conditions for stabilisation in housing markets are right, he says; rents are rising and the new home pipeline is remarkably bare. Price stabilisation is unlikely to be a stable equilibrium, though:Once prices stabilize the incentive to begin massively expanding credit to potential borrowers will be enormous and is likely to reignite.
VANCOUVER — Large Wall Street investors who made billions when the U.S. housing market collapsed in 2008 are now betting real estate values in Vancouver and other Canadian cities will crash, financial insiders say.
The hedge fund investors, known as short sellers, are betting against what they believe is a housing bubble in Vancouver, Toronto, Calgary and other Canadian cities. They believe Canadians hold too much mortgage debt, and that Canadian banks, mortgage insurers and “subprime” private lenders will lose money on unpaid loans when property prices fall.
Pengrowth Energy Corp. and Canadian Natural Resources Ltd. are likely buyers of Korea National Oil Corp.’s Canadian oil and natural gas properties as the state-run company retreats from the country it once made a cornerstone of its global expansion.