McEwen: Q2 Earnings Snapshot
On a per-share basis, the Toronto-based company said it had net income of 6 cents.
The gold and silver mining company posted revenue of $46.7 million in the period.
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Yahoo
13 minutes ago
- Yahoo
Bank of England cuts main interest rate by a quarter percentage point to 4%, lowest since March 2023
LONDON (AP) — Bank of England cuts main interest rate by a quarter percentage point to 4%, lowest since March 2023. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Toronto home prices could hit $1.8M, Vancouver $2.8M by 2032 without major supply boost: Report
Median home prices in Toronto could climb to $1.8 million and Vancouver's to $2.8 million by 2032 if the rate of new housing supply is not increased significantly, new research from Concordia University and private equity firm Equiton has found. The research, led by Erkan Yönder, an associate professor at Concordia's John Molson School of Business, uses a neural network-based AI model to find patterns among mountains of data. It quantifies how much more housing Canada's biggest cities will need in order to rein in prices — and offers granular projections on how approval delays or material costs can directly affect how much housing gets built. 'We see that supply should be multiplied, like, multiple times, not increasing 10 per cent, 20 per cent,' Yönder told Yahoo Finance Canada in an interview. 'They don't help enough.' Canada's housing supply problem is no secret and has long been at the forefront of policy conversations. Prime Minister Mark Carney's election platform included a promise to double the rate of housing construction over the next 10 years. The Concordia research shows that under Statistics Canada's baseline projections for population growth, doubling the rate of new completions would have strikingly different outcomes in different cities — but would likely stabilize price growth in Toronto and Vancouver. The report says Canada's current pace of building has completions at around 1.75 per cent of existing dwellings per year. The goal of doubling completions, the report says, 'while ambitious, is necessary to address affordability challenges, which will remain a generational issue for Canadians.' Toronto's median home price would climb from $1.4 million in 2024 to $1.8 million (in today's dollars) in 2032 under the current pace of housing completions, the report says — but it would slow to $1.6 million if completions doubled. In Vancouver, the report says government policy slowing immigration should lead to 'a modest dip' in the median price this year, but the current housing pace would see that price rise from $2.5 million to $2.8 million in 2032. A 50 per cent increase in completions would do little to slow the trend, the report says — only a doubling of completions would flatten prices. The diversity of Canada's housing markets also stands out in the research. While doubling supply could put the brakes on price growth in Toronto and Vancouver, the model projects a different outcome for Montreal. 'Even if you increase much, much more in Montreal, you cannot stop the price increases,' said Yönder. He explains that Montreal is on the 'wrong side' of an inverted supply curve, where intense demand overwhelms new inventory. This is fuelled by a construction pace of just 1.19 per cent of its housing stock, nearly half of Vancouver's (2.32 per cent). Because prices are still far lower than in other major cities, he adds, there is simply 'more room … for prices to go up.' Tariff policies cannot be considered without thinking about the housing supply. This is something to take very Yönder, associate professor at Concordia's John Molson School of Business Calgary, by contrast, is more responsive to shifts in immigration and population than to changes in supply. The model sees prices dropping in the near term from an immigration-driven peak of $740,000 in 2024, and remaining below that peak regardless of the pace of construction. The research quantifies the impact of reducing red tape and approval timelines. Improving a municipality's score by 10 per cent on the Regulation Index (a Canada Mortgage and Housing Corporation and Statistics Canada metric for zoning rules and assessments) would result in 10 per cent more homes being built, the research finds. A 10 per cent reduction in approval times would give a three per cent boost to supply. Yönder notes that making these adjustments has no expense. "If you improve the regulation process, decrease the delays, we can increase supply at no cost to the government,' he said. On the flip side, the research says that a 10 per cent increase in input costs can reduce housing completions by 25 per cent to 35 per cent, with apartment constructions most affected. Yönder notes that this connects Canada's housing goals directly to global trade and tariff policies. "The tariff policies cannot be considered without thinking about the housing supply," Yönder warned. "This is something to take very seriously." The professor acknowledges that while regulatory burdens aren't a new topic, this research 'is the first study which quantifies the impacts'. Understanding these levers is critical, he suggests, because the scale of the overall challenge is so immense. When asked if doubling housing completions is actually possible in a city like Vancouver, his answer was blunt. 'No,' he said. 'It's not possible... it's very costly. It's very difficult'. The value of the research, Yönder says, is in providing a clearer forecast that can yield better planning. "In the end, we can make better decisions by projecting better.' John MacFarlane is a senior reporter at Yahoo Finance Canada. Follow him on X @jmacf. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
15 minutes ago
- The Hill
The Bank of England cuts its main interest rate to 4%, the lowest level since March 2023
LONDON (AP) — The Bank of England cut its main interest rate Thursday by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy. Thursday's decision was widely anticipated in financial markets as the bank's Monetary Policy Committee balances its responsibility to control inflation against concern that rising taxes and U.S. President Donald Trump's global trade war may slow economic growth. The committee voted 5-4 in favor of the cut. The rate cut is the bank's fifth since last August, when policy makers began lower borrowing costs from a 16-year high of 5.25%. The Bank of England's key rate — a benchmark for mortgages as well as consumer and business loans — is now at the lowest level since March 2023. 'There will be hopes that if loans become cheaper, it will help boost consumer and business confidence but there's a long way to go,' Susannah Streeter, head of money and markets at Hargreaves Lansdown, said before the decision. 'In the meantime, speculation over potential tax rises in the Autumn Budget may keep households and companies cautious, given the uncertainty over where extra burdens may land.' Policymakers decided to cut rates even though consumer prices rose 3.6% in the 12 months through June, significantly above the bank's 2% target. The bank sees the recent rise in consumer prices as a temporary spike, due in part to high energy costs, and expects inflation to fall back to the target next year. Against the backdrop, policy makers were faced with reports that the government may be forced to raise taxes later this year due to sluggish economic growth, rising borrowing costs and pressure to increase spending. Britain's unemployment rate rose to 4.7% in the three months through May, the highest level in four years, signaling that previous tax increases and uncertainty about the global economy are weighing on employers. The U.K. economy grew 0.7% in the first three months of 2025 after stagnating in the second half of last year.
