New Hampshire Business Newsreel
Home prices up but confidence dips
U.S. home prices slowed their rate of gains in July and a dip in consumer confidence this month underscored the potential for higher borrowing costs and a sluggish economy to dent a housing market recovery.
The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.6 percent on a seasonally adjusted basis, a little slower than the 0.8 percent gain economists in a Reuters poll had expected and the 0.9 percent increase logged in June.
In addition, data from the U.S. Federal Housing Finance Agency showed U.S. home prices rose 1 percent in July from June.
Since May, homebuyers have been hit with rising interest rates on speculation the U.S. Federal Reserve could soon pull back on crisis-era stimulus measures, slowing house price gains.
BlackBerry lands privatization offer
SAN FRANCISCO — BlackBerry Ltd. said Monday that it has signed a letter of intent with a consortium led by Fairfax Financial Holdings Ltd. to take the smartphone maker private in a deal worth $9 per share.
The deal with Fairfax would total about $4.7 billion in value, as the consortium would acquire all the BlackBerry shares that Fairfax does not own for $9 per share. Fairfax, BlackBerry’s largest shareholder, owns about 10 percent of the company’s shares.
In a statement, BlackBerry said the consortium has six weeks to conduct due diligence, during which BlackBerry can continue to shop for other deals. The consortium is seeking financing for the deal from Bank of America Merrill Lynch and BMO Capital Markets.
MetLife office organizes coat drive
The MetLife Auto & Home office of Michelle Kenna-Gendron is collecting clean, used coats and jackets as part of the One Warm Coat community service project.
One Warm Coat is dedicated to distributing reusable coats, free of charge, directly to local children and adults. Bring your clean, gently used coats and jackets to 470 Mast Road from 10 a.m. to 5 p.m. through Nov. 14.
For more information call 603-641-6381 or email firstname.lastname@example.org.
Exit planning seminar scheduled
BEDFORD — The Baldwin & Clarke Companies, a financial services firm, is holding an open forum Exit Planning Seminar for business owners and their advisers at the Manchester Country Club from 8:30 to 10:30 a.m. on Oct. 24.
The forum will focus on the benefits of strategically planning for a successful near-term or future transition of a business to family members, employees or third-party buyers.
Featured presenters include Cynthia Harrington with the Economic Development Office of the New Hampshire Department of Resource and Economic Development and Joseph B. Reilly, president and CEO of Centrix Bank.
Chuck Baldwin and Bill Conrad from The Baldwin & Clarke Companies will also be speaking. Guests will be encouraged to ask questions and interact with the presenters.
To sign up, go to www.baldwinclarke.com and answer the invite form by clicking the “events” tab online before Oct. 4 or call 800-639-2711.