Canada housing agency urges lenders to avoid risky borrowers: Canada Mortgage and Housing Corp., or CMHC, has lost mortgage insurance market share to private insurers after the government-backed agency tightened underwriting standards from July 1 as it forecast home-price declines of as much as 18 per cent over the next 12 months. (Reuters)
Goldman Sachs, Barclays among bidders for GM’s credit card business: report: Goldman Sachs is looking to buy General Motors Co’s credit card unit as it looks to double down on its consumer banking arm, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Barclays is also among a small number of bidders for the automaker’s credit card business, which has about $3 billion in outstanding balances, adding that a decision was expected in the next few weeks. (Reuters)
Simon, Authentic Brands buying Brooks Brothers for $325-million: Brooks Brothers will be purchased for $325 million by a retail venture owned by licensing company Authentic Brands Group and mall owner Simon Property Group. (Reuters)
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