BMO’s move over the weekend to cut its benchmark five-year mortgage rate to under 3% from 3.09-2.99%, could spur other banks to follow suit in the lead-up to the busy spring home-buying season. “Banks will be banks, it’s not the first time the banks have tried to undercut each other in order to prop up their loan growth,” the rate may entice first time buyers to take the plunge.

Mexico’s Carlos Slim remains the world’s richest man for the fourth year in a row, according to Forbes, while Warren Buffett dropped out of the top three for the first time since 2000. Facebook’s Mark Zuckerberg ranking dropped 31 spots as his net worth declined by $4.2 billion. A record 1,426 people around the world made Forbes magazine’s latest annual tally of billionaires, up 16 % from last year. Their average net worth was $3.8 billion, rising 3 % from 2012. The total net worth for the list’s billionaires was $5.4 trillion compared with $4.6 trillion a year ago. The U.S. continued to house the most billionaires in the world, with 442 of them. It was followed by the Asia-Pacific region, with Europe rounding out the top three. There were 210 new faces on the list, with Forbes saying many were helped by rebounding equity markets and strong consumer brands. While Buffett dropped in the rankings, he added $9.5 billion to his net worth – making him the second-biggest gainer of the year. The largest gainer was Ortega, who added $19.5 billion to his net worth. here were 138 women on the list, up from 2012’s 104. Liliane Bettencourt – whose family owns a stake in L’Oreal – is the world’s richest woman with a net worth of $30 billion.

 

 

 

 

Queen Elizabeth has left a London hospital after staying overnight because of an apparent stomach infection. She smiled and thanked staff before getting into her limousine. I wish she could hire me as her ‘Go-For’.

 

Don’t Forgetta About Me!- Philip Magnoli – My Friends cal me Dn Filippo- The FX Specialist- www.donfilippo.ca

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