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Making sense of the markets this week: April 7, 2024 Apr 5th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Are we in the middle of another Roaring ’20s?
For those who aren’t into history, the Roaring ’20s has been referre.... More »
From RRSP to RRIF—managing your investments in retirement Nov 14th
Retirement brings many changes in a person’s life and your investment portfolio is one of them. Tracy Andrade, a wealth adviser and certified financial planner at Marnoa Private Wealth Counsel, says it’s challenging for people to see their savings start to decline as they begin spending .... More »
RRSP.ORG – Registered Retirement Savings Plan Dec 2nd
Registered Retirement Savings Plan
RRSP.ORG
Canadian Registered Retirement Savings Plan Organization is exactly that; the organization part of the best gift Canadian’s could get from the government to promote and encourage Canadian capital markets. Registered is the keyword and tax differed is.... More »
PSP charts ambitious investment course with European hub + MORE May 10th
Pension fund announces opening of new London office as it ramps up plans for international expansion
.... More »
Myths and facts of reverse mortgages + MORE Sep 30th
A reverse mortgage is exactly what the name implies: accessing the existing equity you have built in your home by granting a mortgage to a lender without the need to make monthly payments.
And yet, there are many misconceptions about this financial product, which allows Canadians to borrow up to 5.... More »
Business Highlights
– canadianbusiness.com
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British chaos means interest rates will stay low for longer
FRANKFURT, Germany (AP) — Economists say the British vote to leave the European Union means central banks are likely to have to keep their stimulus efforts in place longer. This is what helped keep the global economy afloat in the wake of the 2008 financial crisis but some may even have to unveil new stimulus or rate cuts.
That means savers will suffer longer with zero returns on their accounts. Meanwhile home buyers, companies and governments will keep on borrowing cheaply.
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Fed gives OK to 30 banks to up dividends, buy back shares
WASHINGTON (AP) — The Federal Reserve has given the green light to many major banks in the U.S. to raise dividends and buy back shares, judging them to have a sturdy enough to withstand a major economic downturn.
The “stress tests” are an annual check-up of the biggest financial institutions in the U.S.
Of the 33 that were tested, 30 banks were allowed to raise dividends or repurchase shares…
British chaos means interest rates will stay low for longer
FRANKFURT, Germany (AP) — Economists say the British vote to leave the European Union means central banks are likely to have to keep their stimulus efforts in place longer. This is what helped keep the global economy afloat in the wake of the 2008 financial crisis but some may even have to unveil new stimulus or rate cuts.
That means savers will suffer longer with zero returns on their accounts. Meanwhile home buyers, companies and governments will keep on borrowing cheaply.
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Fed gives OK to 30 banks to up dividends, buy back shares
WASHINGTON (AP) — The Federal Reserve has given the green light to many major banks in the U.S. to raise dividends and buy back shares, judging them to have a sturdy enough to withstand a major economic downturn.
The “stress tests” are an annual check-up of the biggest financial institutions in the U.S.
Of the 33 that were tested, 30 banks were allowed to raise dividends or repurchase shares…
Stock markets continued to rally from their post-Brexit losses as they posted a second straight days of gains.
Energy saving tips to lower your bill this summer
– moneysense.ca
MoneySense contributor, Bruce Sellery, offers some tips for saving money on your A/C bill—that will also help you save on your heating bill when fall and winter rolls around. Think smart thermostats.
brightcove.createExperiences();
Ask Home Owner columnist Romana King your real estate question »
Read more from Romana King at Home Owner on Facebook »
The post Energy saving tips to lower your bill this summer appeared first on MoneySense.
B.C. to end self-regulation of real estate industry
– moneysense.ca
VANCOUVER – British Columbia is ending the self-regulation of the real estate industry in a move Premier Christy Clark says is aimed at protecting consumers.
Clark said Wednesday the province will hire a new superintendent of real estate, who will take over the rule-making authority held by the B.C. Real Estate Council.
The announcement comes the day after an independent advisory group tasked with restoring consumer confidence in the industry released a report with 28 recommendations, including hefty fines for misconduct.
“After reading the report, our conclusion is that the privilege of self-regulation in the real estate industry must end,” Clark said in a statement.
Shady practices are putting consumers at risk and tarnishing the reputations of honest agents, she added.
The Real Estate Council of B.C. created the advisory group in February amid concerns about predatory sales tactics and allegations that some agents were deceiving clients in order to rack up larger commissions.
The group’s report suggested prohibiting a single agent from representing both buyers and sellers in a single transaction, having any profits received from misconduct returned to the client, and creating a confidential whistleblower hotline…
Clark said Wednesday the province will hire a new superintendent of real estate, who will take over the rule-making authority held by the B.C. Real Estate Council.
The announcement comes the day after an independent advisory group tasked with restoring consumer confidence in the industry released a report with 28 recommendations, including hefty fines for misconduct.
“After reading the report, our conclusion is that the privilege of self-regulation in the real estate industry must end,” Clark said in a statement.
Shady practices are putting consumers at risk and tarnishing the reputations of honest agents, she added.
The Real Estate Council of B.C. created the advisory group in February amid concerns about predatory sales tactics and allegations that some agents were deceiving clients in order to rack up larger commissions.
The group’s report suggested prohibiting a single agent from representing both buyers and sellers in a single transaction, having any profits received from misconduct returned to the client, and creating a confidential whistleblower hotline…
Regulators fine BancorpSouth $10.6 million for redlining
– canadianbusiness.com
NEW YORK, N.Y. – The Department of Justice and the Consumer Financial Protection Bureau fined Mississippi-based BancorpSouth $10.6 million, alleging the bank deliberately discriminated against minorities in its lending practices.
BancorpSouth, a medium-sized regional bank with $13.9 billion in assets, deliberately avoided building branches in minority neighbourhoods in Memphis, Tennessee from at least 2011 to 2013. The bank also denied loans to African Americans and other minorities when compared to neighbourhoods with smaller minority populations, the Justice Department and CFPB said Wednesday, and those minorities who were given loans were given higher interest rates when compared to non-minorities.
While BancorpSouth is based in Tupelo, Mississippi, the case deals with BancorpSouth’s presence in Memphis and stems from a 2014 investigation into BancorpSouth by the Justice Department and CFPB.
The bank had 22 branches in the Memphis area between 2011 and 2013, all of which were located outside neighbourhoods with large minority populations…
BancorpSouth, a medium-sized regional bank with $13.9 billion in assets, deliberately avoided building branches in minority neighbourhoods in Memphis, Tennessee from at least 2011 to 2013. The bank also denied loans to African Americans and other minorities when compared to neighbourhoods with smaller minority populations, the Justice Department and CFPB said Wednesday, and those minorities who were given loans were given higher interest rates when compared to non-minorities.
While BancorpSouth is based in Tupelo, Mississippi, the case deals with BancorpSouth’s presence in Memphis and stems from a 2014 investigation into BancorpSouth by the Justice Department and CFPB.
The bank had 22 branches in the Memphis area between 2011 and 2013, all of which were located outside neighbourhoods with large minority populations…
