Canada’s unemployment rate rises, BCE cuts its dividend and Warren Buffett’s chosen successor: Must-read business and investing stories

Canada’s unemployment rate rises, BCE cuts its dividend and Warren Buffett’s chosen successor: Must-read business and investing stories

Plus, travel spending in the U.S. is in free fall, partly due to Canada’s boycott

Bell finally cuts its dividend, on the Sunday Reads. - Cut the Crap Investing

It was invevitable. Bell Canada (BCE) was paying a massive dividend with money it did not produce from operations. Paying an unsupported dividend, and most would say irresponsible dividend, was not good for the balance sheet. It was not good for investors either. As many of us had begged – do the responsible thing and cut the dividend. Well this week they did, as BCE cut the dividend by 56%. The markets gave the move an intitial cheer sending th…