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Founders of mortgage investment firm Fortress Real Developments Inc. charged with fraud

Vince Petrozza, chief operating officer of Fortress Real Developments, leaves the company offices in Richmond Hill, Ont., in 2017.CHRIS HELGREN/Reuters The co-founders of the failed Fortress Real Developments Inc., one of the first Canadian companies to offer higher risk, syndicated mortgage products to retail investors, have been charged with fraud. Jawad Rathore, Fortress’s former chief …

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Cineplex $1.50 booking fee for online adds ticket purchases to ‘further invest’ in digital infrastructure

People purchase tickets at a kiosk at Queensway Cineplex Cinemas, in Toronto, on Aug. 18, 2020.Melissa Tait/The Globe and Mail As Canadian moviegoers return to the cinema for the first real summer movie season in three years, some customers of the country’s largest theater chain will notice an unwelcome new charge tacked onto the cost …

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Monthly payments on variable-rate mortgages could increase as borrowers near their ‘trigger rate’

An obscure feature of variable-rate mortgages may push up the monthly payments for an increasing number of borrowers as the Bank of Canada aggressively hikes interest rates. It’s called the “trigger rate” – the interest rate level that, when surpassed, causes a mortgage holder’s monthly payments to change. The trigger rate has been largely ignored …

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China launches high-tech aircraft carrier Fujian, the country’s third and most advanced

This screen grab made from video released by Chinese state broadcaster CCTV shows the launch ceremony of the Fujian, a People’s Liberation Army aircraft carrier, at a shipyard in Shanghai, on June 17.-/AFP/Getty Images Beijing reached a major naval milestone Friday, launching the country’s third aircraft carrier, one both designed and built in China and …

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