Investors Rush to Dump Canacol Bonds, Fueling Worst Rout in EM
Investors are losing faith in Canacol Energy Ltd. as the gas producer struggles to boost output and rebuild its depleted reserves — sparking the steepest rout in emerging-market corporate debt this year.
Bonds of the Calgary-based company handed investors a 30% loss year to date, according to data compiled by Bloomberg. The plunge is accelerating, with notes maturing in 2028 slumping almost 11 cents on the dollar to 35.75 cents since Canacol made a debt payment in late May.
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Hamilton Spectator
an hour ago
- Hamilton Spectator
Lululemon sues Costco for selling alleged dupes of its products
Lululemon Athletica Canada Inc. is accusing Costco Wholesale Corp. of infringing on its intellectual property by selling knockoffs of some of its most popular products. A lawsuit filed in a California court recently alleges Costco sells dupes of Lululemon's Scuba hoodies and sweatshirts, Define jackets and ABC pants. Some of the alleged fakes Vancouver-based Lululemon identified are sold under Costco's private label Kirkland, but others are made by manufacturers Danskin, Jockey and Spyder. 'Some customers incorrectly believe these infringing products are authentic Lululemon apparel while still other customers specifically purchase the infringing products because they are difficult to distinguish from authentic Lululemon products, particularly for downstream purchasers or observers,' the lawsuit says. Lululemon alleges these scenarios take advantage of patents it holds, as well as the reputation and goodwill it has built with customers. In its 49-page court filing, Lululemon says it tried to address the dupes by sending Costco cease and desist letters but is now asking a court to step in. Lululemon has requested the matter be heard by a jury trial, which it wants to order Costco to cease manufacturing, importing, marketing and selling the alleged dupes. It also wants the Washington-based retailer to remove any instances where it was advertising alleged dupes online or in print and is asking the court to require Costco to cover any lost profits Lululemon incurred from the products. Costco did not immediately respond to a request for comment. It has yet to file a response to Lululemon's lawsuit. Dupes have become incredibly popular in recent years as shoppers looked to cope with inflation and a global trade war by seeking products mimicking the originals made by name brands. The phenomenon has gained traction online in particular, with social media accounts sharing the best dupes they've found. While knock-off cosmetics are especially popular, Lululemon has also become a target because it sells its athletic wear at higher prices, which some customers find unattainable. The lawsuit comes weeks after Lululemon said it would try to weather new and possibly incoming tariffs with price increases that will be 'modest in nature' and applied only to a 'small' portion of its products. The brand has been working to bounce back from a lack of newness that disappointed consumers last year and earlier this year. Newness — how fresh a brand's products and styles appear to consumers — is one of the key ways retailers draw in customers. This report by The Canadian Press was first published June 29, 2025. Companies in this story: (TSX:LULU)
CNBC
2 hours ago
- CNBC
Is the Guild 1% Down mortgage right for you?
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Nontraditional credit options available 0% for USDA, VA, Arrive Home™ or Zero Down; 1% for conventional loans, 3.5% for FHA loans Approved borrowers with a 1% down payment will get another 2% from Guild in the form of a non-repayable grant. That automatically lets them meet the 3% down payment requirement for conventional loans set by Fannie Mae and Freddie Mac. Applicants may also be eligible for a lender-paid temporary buydown, which covers a portion of their interest for a set period, thereby keeping monthly payments lower initially. Although Guild is not licensed to lend in New York, first-time and repeat homebuyers in every other state can qualify. Income: Up to 80% of the area median incomeCredit score: 620 (other credit sources considered)Other requirements: Must be for a single-family home and borrowers must complete a homebuyer education course Guild's 1% Down loan is a great choice for households earning up to 80% of the area median income. 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Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.10-, 15- and 30-year fixed-term conventional loans, 30-year VA and FHA loans, custom mortgages with fixed-rate terms from 8 to 29 years.6200% for VA, 1% for RocketONE+, 3% for conventional, 3.5% for FHA, 10% to 15% for jumbo10 – 30 years6203% for DreaMaker℠ or Standard Agency loan FHA loans: Backed by the Federal Housing Authority, these mortgages only require 3.5% down if you have a 580 credit score or better. USDA loan: The U.S. Department of Agriculture guarantees zero-down home loans to borrowers buying in select rural and suburban areas and earning up to 115% of the AMI. VA loan: These zero-down-payment mortgages, backed by the Department of Veteran Affairs are available to active duty service members, reservists and veterans. HomeReady: You only need a down payment of 3% down with this Fannie Mae-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Home Possible: You only need a down payment of 3% down with this Freddie Mac-backed mortgage. Borrowers must earn no more than 80% of the area median income and have a credit score of at least 620. Founded in 1960, San Diego-based Guild Mortgage is a legitimate lender with 740 branches in 46 states. It's licensed nationwide except in New York and, in 2024, approved 75,356 mortgages totalling $23.2 billion. Guild Mortgage requires score of 620 for a conventional mortgage, 1% Down and Arrive Home loan and a 600 to qualify for its Zero Down loan. Guild accepts scores of 540 for FHA, VA and USDA mortgages and 680 for jumbo loans, lower than many other lenders. Ranked No. 4 on J.D. Power's 2024 survey of mortgage servicers, Guild Mortgage claims it services the majority of the loans it originates. According to the Guild website, "We're your loan partner throughout the life of the loan." Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every mortgage review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of mortgage products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. CNBC Select reviews mortgage products using a variety of criteria, including average rates, eligibility requirements, available terms, fees, nationwide availability, online experience and customer satisfaction. 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Yahoo
2 hours ago
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Calgary man's home wrecked for ‘Green Line'
Patrick Lindsay watched as his home in the River Run townhome community of Eau Claire, Calgary, was torn down for a transit project. 'It's just heart-wrenching,' says Lindsay. 'I knew everyone in all the units. We will never have that again.' The homes were being demolished for a Green Line LRT with a station at Eau Claire. But in the fall, Calgary City Council decided to cut back the project after the province pulled its $1.53 billion in funding. A few weeks later, the province promised the money again, but the new plan now leaves out Eau Claire. So where does that leave Lindsay and the others whose homes were wrecked? Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich — and 'anyone' can do it 5 essential money moves to help boost your net worth today — here's how to up your money game in 2025 (and you can complete each step within minutes) Are you rich enough to join the top 1%? Here's the net worth you need to rank among Canada's wealthiest — plus a few strategies to build that first-class portfolio Calgary Mayor Jyoti Gondek said that talks are still happening about the Green Line possibly going through Eau Claire in the future. 'We continue to be engaged with the provincial partners and we have had a working group meeting that was quite productive,' she says. 'We continue to move forward to figure out how we can get the Green Line moving, and what that alignment will look like.' How did these homeowners lose their properties? When the owners got notice that the property was being acquired, they negotiated for four years but finally were given until the end of May 2024 to vacate the property. Even though Eau Claire's future isn't set in stone, the city is still moving forward with tearing down the properties. Work began in late January, and is continuing until summer. All of this leaves people like Patrick Lindsay and his former neighbours in the dust. Read more: Here are — and very quickly regret. How many are hurting you? The Green Line is Calgary's next LRT line and the biggest infrastructure project in the city's history. According to the City of Calgary website, the demolition of the River Run condominiums took place even though the land may not be required for the station because 'the removal of these buildings will decrease the potential for safety and security issues, while fulfilling contractual obligations.' When the city took ownership of the River Run condos, residents were sent a letter, then an agent visited to figure out the market value. Owners got buyouts of about $800,000 each, but some argued that they would have been worth more in the open market. Market value includes things like renovations, location and landscaping. Twenty of the 23 owners filed appeals with the Alberta government's Land and Property Rights Tribunal, where disputes can be made around expropriation. 'I don't think it was necessary,' Lindsay told CityNews. 'I just think they wanted to because they are comfortable with putting homes into the landfill to make something shiny and new.' The Green Line should take about six years to finish. This article 'Heart-wrenching': This Calgary man's home just got demolished to make room for 'Green Line' transit project that might not even be reality — how is this legal in Canada? I'm almost 50 and don't have enough retirement savings. What should I do? Don't panic. Here are 6 solid ways you can catch up Warren Buffett's Berkshire Hathaway bought nearly 26 million shares of this Canadian company in 2024 — here are 3 ways to help you invest like the Oracle of Omaha What would you do if you had an emergency vet bill worth $5,000 tomorrow? Here's how to protect your furry friend (and keep your wallet intact) Billionaires like Mark Zuckerberg and Jay-Z have taken out mortgages for homes they can easily afford — here's why This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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
