Winnipeg Free Press - PRINT EDITION

Business watch

  • Print

Cost of new homes up in April

The cost of a new home in Winnipeg edged up for the fifth straight month in April.

Statistics Canada said Thursday Winnipeg's new housing price index rose 0.2 per cent from April to May. It was also up two per cent from a year earlier.

The earlier monthly increases ranged from 0.1 per cent to 0.5 per cent.

Statistics Canada said local builders cited higher costs for lumber, concrete and labour as the main reasons for the monthly housing-price-index gain. They said the increase was partially offset by some builders lowering their list prices to be more competitive.

And the two per cent year-over-year price increase was blamed on a combination of a 2.1 per cent rise in the cost of building a home and a 1.7 per cent hike in land prices, the agency added.

Canada's new-housing price index also climbed 0.2 per cent in April, following identical increases in February and March. The year-over-year increase was 1.6 per cent.

Statistics Canada said the combined metropolitan region of Toronto and Oshawa, Ont., was the top contributor to Canada's month-over-month increase. It had the largest monthly price advance in April, at 0.7 per cent. That was its largest monthly price increase since November 2011.

New-home prices in Calgary rose 0.6 per cent and were also up 0.2 per cent in Hamilton and the combined region of Saint John, Fredericton and Moncton, N.B.


Pavilion purchases another firm

 

Pavilion Financial Corp. has made its second acquisition in as many weeks.

The Winnipeg-based institutional services firm has acquired Plan Sponsor Advisors, a 12-year-old Chicago company specializing in fiduciary and non-fiduciary consulting services to publicly traded and privately held companies.

"They specialize in defined contribution (retirement) plans, which is the fastest-growing part of the market," said Daniel Friedman, Pavilion's president and chief operating officer.

Friedman said the newest company under the Pavilion umbrella wouldn't result in any changes at its Winnipeg headquarters, which has 30 employees.

"PSA's business today and their clients are U.S.-based, but we do expect we should be able to take some of their expertise and, over time, use it with Canadian clients or prospects," he said.

Two weeks ago, Pavilion acquired LP Capital Advisors, a Sacramento, Calif.-based investment consulting firm specializing in alternative investments and services for some of the world's largest pension plans, sovereign-wealth funds and high-net-worth family offices.

 

Ford decreases mileage estimates

 

DETROIT -- Ford is lowering the fuel-economy estimates for six models, including hybrid and plug-in hybrid versions of the Fusion sedan, after internal tests found errors in the way they were calculated.

Except for the Lincoln MKZ hybrid, the fuel-economy estimates will fall between one and five miles per gallon. The subcompact Fiesta's combined city and highway fuel economy drops by one mpg to 36 mpg, for example, while the C-Max Energi plug-in hybrid falls five mpg to 38 mpg. But the combined fuel economy for the MKZ hybrid has been reduced by seven mpg to 38 mpg.

Ford will compensate approximately 215,000 buyers with payments of between $125 and $1,050 each, depending on how much their vehicles were overstated. Most of those customers are in the U.S.; around 15,000 are from Canada and elsewhere.

Ford said it discovered the problem during internal tests in March and alerted the U.S. Environmental Protection Agency. The EPA supervised the retesting of the vehicles and is now confident their fuel economy is accurate, said Chris Grundler, head of the EPA's office of transportation and air quality.

Grundler said the EPA is still investigating why Ford made the error.

 

-- staff / news services

Republished from the Winnipeg Free Press print edition June 13, 2014 B17

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Key of Bart - Take It Easy

View more like this

Photo Store Gallery

  • A golfer looks for his ball in a water trap at John Blumberg Golf Course Friday afternoon as geese and goslings run for safety- See Joe Bryksa’s 30 day goose challenge- Day 24– June 15, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • RUTH BONNEVILLE / WINNIPEG FREE PRESS June 23, 2011 Local - A Monarch butterfly is perched on a flower  in the newly opened Butterfly Garden in Assiniboine Park Thursday morning.

View More Gallery Photos

Poll

Will higher pork prices change your grocery-shopping habits?

View Results

View Related Story

Ads by Google