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How do the RRSP contribution carry-forward rules work? + MORE Aug 1st
Ask MoneySense
If I have $25,000 contribution room left in my RRSP, can I take that all at once plus my regular RRSP contribution of $31,560 for the tax year 2024? Effectively making a contribution of $56,560 to my RRSP?—Lorraine
The rules around RRSP contribution room
As soon as a ta.... More »
At midday: Wall Street little changed, with earnings in sight + MORE Oct 9th
S&P 500 third-quarter profit growth seen slowing from prior quarters
.... More »
Collapse of Lehman Brothers 10 years ago still looms over Canada's economy + MORE Sep 15th
The fallout from the global financial crisis was widespread and much has changed for the Canadian economy including drivers like oil prices and the loonie, which failed to go back to pre-recession levels..... More »
Workspace of the Month: Inside SSENSE’s State-Of-The-Art Montreal HQ + MORE May 31st
Montreal-based retailer SSENSE has a global following not just for its curated selection of streetwear and luxury fashion but also for its distinct point of view—cool, confident and cutting edge.
It’s an unmistakable vibe that’s consistent at all touch points: on its clutter-free website a.... More »
BLM: Exploration can expand near Alaska eagle preserve + MORE Aug 20th
ANCHORAGE, Alaska – The Canadian company exploring for copper, zinc and gold upstream of a southeast Alaska bald eagle preserve has received permission from a federal agency to expand.
Vancouver, British Columbia-based Constantine Metal Resources Ltd. is exploring upstream of the Chilkat Bald .... More »
Fannie, Freddie and an Outbreak of Amnesia
– online.wsj.com
The growing ‘recap and release’ movement is a bad idea that could lead to another financial disaster.BMO’s income falls 3 per cent to $973 million as it takes restructuring charge
– canadianbusiness.com
TORONTO – The Bank of Montreal’s second quarter profit fell to $973 million, down three per cent from a year ago, as it took bigger provisions for credit losses and restructuring expenses.
The bank (TSX:BMO) reported $999 million of net income during the same quarter last year.
The earnings amounted to $1.45 per share, down from $1.49 per share a year ago.
BMO’s net income included a $132 million restructuring charge related to technological changes and $201 million in provisions for credit losses, both higher than in last year’s second quarter.
On an adjusted basis, BMO earned $1.152 billion, or $1.73 per share, up from $1.146 billion, or $1.71 per share, a year ago.
Revenue increased to $5.10 billion, from $4.53 billion during the second quarter of last year.
BMO also announced its quarterly dividend will go up by two cents to 86 cents per share, effective Aug. 26, 2016.
The post BMO’s income falls 3 per cent to $973 million as it takes restructuring charge appeared first on Canadian Business – Your Source For Business News.
The bank (TSX:BMO) reported $999 million of net income during the same quarter last year.
The earnings amounted to $1.45 per share, down from $1.49 per share a year ago.
BMO’s net income included a $132 million restructuring charge related to technological changes and $201 million in provisions for credit losses, both higher than in last year’s second quarter.
On an adjusted basis, BMO earned $1.152 billion, or $1.73 per share, up from $1.146 billion, or $1.71 per share, a year ago.
Revenue increased to $5.10 billion, from $4.53 billion during the second quarter of last year.
BMO also announced its quarterly dividend will go up by two cents to 86 cents per share, effective Aug. 26, 2016.
The post BMO’s income falls 3 per cent to $973 million as it takes restructuring charge appeared first on Canadian Business – Your Source For Business News.
S&P: Britain’s EU vote could jeopardize pound’s standing
– canadianbusiness.com
LONDON – Ratings agency Standard & Poor’s says a vote to leave the European Union could jeopardize the pound’s standing as an international reserve currency, potentially threatening the country’s credit rating.
The warning comes amid another dire report on the impact on Britain’s economy. The Institute for Fiscal Studies says the U.K. could face two more years of austerity in the event Britain votes to leave the 28-nation bloc on June 23.
S&P analyst Frank Gill says that a British exit from the EU could deter foreign direct investment and “other capital inflows.”
A reserve currency is held by governments of other countries as part of their foreign exchange reserves and is considered as safe to use to pay off foreign debt.
The post S&P: Britain’s EU vote could jeopardize pound’s standing appeared first on Canadian Business – Your Source For Business News.
The warning comes amid another dire report on the impact on Britain’s economy. The Institute for Fiscal Studies says the U.K. could face two more years of austerity in the event Britain votes to leave the 28-nation bloc on June 23.
S&P analyst Frank Gill says that a British exit from the EU could deter foreign direct investment and “other capital inflows.”
A reserve currency is held by governments of other countries as part of their foreign exchange reserves and is considered as safe to use to pay off foreign debt.
The post S&P: Britain’s EU vote could jeopardize pound’s standing appeared first on Canadian Business – Your Source For Business News.
Can you beat the index? Yes and Ross Grant proves it.
– myownadvisor.ca
Learn, save, invest and prosper with My Own Advisor.
Beating the index sound like fiction? It’s a fact and you might be able to do it just like Ross Grant did. Ross Grant is an engineer by trade and like most engineers he likes figuring things out. Based on his book entitled Destination: Early Financial Independence it looks like Ross figured out early retirement fairly well.
I had a chance recently to talk to Ross about his book, his writing gig at Canadian MoneySaver, the investment approach “Beating the TSX” and other financial subjects.
Ross, thanks for this and good to finally talk.
Thanks Mark for your interest in the investment strategy I use. I hope your readers will pick up a few tips our discussion that may help them reach their financial goals sooner.
Ross, I have a copy of your book Destination Early Financial Independence – How You Can Get There & Manage Your Investments Throughout the Journey and I thought the concept (a series of short letters from father to daughter) was great…
Beating the index sound like fiction? It’s a fact and you might be able to do it just like Ross Grant did. Ross Grant is an engineer by trade and like most engineers he likes figuring things out. Based on his book entitled Destination: Early Financial Independence it looks like Ross figured out early retirement fairly well.
I had a chance recently to talk to Ross about his book, his writing gig at Canadian MoneySaver, the investment approach “Beating the TSX” and other financial subjects.
Ross, thanks for this and good to finally talk.
Thanks Mark for your interest in the investment strategy I use. I hope your readers will pick up a few tips our discussion that may help them reach their financial goals sooner.
Ross, I have a copy of your book Destination Early Financial Independence – How You Can Get There & Manage Your Investments Throughout the Journey and I thought the concept (a series of short letters from father to daughter) was great…
How AP and Equilar calculated CEO pay
– canadianbusiness.com
For its annual study of CEO pay, The Associated Press used data provided by Equilar, an executive data firm.
Equilar examined the regulatory filings detailing the pay packages of 341 executives. Equilar looked at companies in the Standard & Poor’s 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30, 2016. To avoid the distortions caused by sign-on bonuses, the sample includes only CEOs in place for at least two years.
To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards, deferred compensation and other pay components that include benefits and perks.
Stock awards can either be time-based, or performance-based, meaning the CEO has to meet certain goals before getting them. Stock options usually give the CEO the right to buy shares in the future at the price they’re trading at when the options are granted. All are meant to tie the CEO’s pay to the company’s performance.
To determine what stock and option awards are worth, Equilar uses the value of an award on the day it’s granted, as recorded in the proxy statement…
Equilar examined the regulatory filings detailing the pay packages of 341 executives. Equilar looked at companies in the Standard & Poor’s 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30, 2016. To avoid the distortions caused by sign-on bonuses, the sample includes only CEOs in place for at least two years.
To calculate CEO pay, Equilar adds salary, bonus, perks, stock awards, stock option awards, deferred compensation and other pay components that include benefits and perks.
Stock awards can either be time-based, or performance-based, meaning the CEO has to meet certain goals before getting them. Stock options usually give the CEO the right to buy shares in the future at the price they’re trading at when the options are granted. All are meant to tie the CEO’s pay to the company’s performance.
To determine what stock and option awards are worth, Equilar uses the value of an award on the day it’s granted, as recorded in the proxy statement…
