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How to use FHSA and RRSP withdrawals for a home down payment in Canada + MORE Feb 11th
Ask MoneySense
My partner and I plan to buy a $600,000 home in two to three years with a 20% down payment. Can we each use $40,000 from our FHSAs and $60,000 from our RRSPs through the Home Buyers’ Plan, even though we would only need $120,000 for the down payment? We would use the additional $80,.... More »
Skip the chocolates and build financial intimacy instead Feb 6th
Money is something many of us were taught not to talk about. Yet, finances shape everything from whether you’ll have kids or buy a home to when you’ll retire—and nothing kills a romantic spark faster than money stress. In relationships, being on the same page financially isn’t optional, itâ€.... More »
Five money fears from childhood—and how to overcome them Dec 15th
Ask around your group of peers what their childhoods were like, and you’ll probably discover you all grew up incredibly differently. Some of us dined on Kraft Dinner nightly, while others enjoyed meals fit for the cover of Bon Appétit. Some families were frugal by choice or necessity, and others .... More »
Canada needs to do more to protect data from U.S. in NAFTA talks: industry + MORE Sep 29th
OTTAWA _ Concern is growing that federal negotiators aren’t doing enough to protect the personal information of Canadians from prying U.S. interests at the North American Free Trade Agreement negotiations.
Information technology companies and other digital economy insiders say federal negotiat.... More »
CFO of Chinese tech giant Huawei arrested in Vancouver, sought by U.S. for extradition + MORE Dec 6th
Canadian officials have arrested Wanzhou Meng, the chief financial officer and deputy chairwoman of the board for the Chinese tech giant Huawei, CBC News has confirmed..... More »
Weekly Summary Corporate dividends, name changes, new listings
– canadianbusiness.com
NEW YORK, N.Y. – Changes announced in corporate dividends Aug. 15-Dec. 19.
INCREASED DIVIDENDS
Badger Meter .23 from .20
Briggs & Stratton .14 from .135
Brinker International .34 from .32
Chemical Financial .27 from .26
Delta Natural Gas .205 from .2075
First American Financial .34 from .26
ITC Holdings Corp .2155 from .1875
Nacco Industries .2675 from .2625
Nordson Corp .27 from .24
Pinnacle Foods .285 from .255
United Bancorp .11 from .10
Whirlpool Corp 1.00 from .90
g- Canadian funds
Reduced Dividends
Communications Systems .04 from .16
Other corporate news and listings:
DECLARED STOCK SPLITS
Brown-Forman Cl A & B 2 for 1 split
ACQUISITIONS AND Mergers
Minimum value $100 million
Cavium Inc – QLogic Corp (1.4B)
Huntington Bancshares Inc – FirstMerit Corp (3.4B)
Marketo Inc – Vista Eqity Partners Management (1.8B)
NEW STOCK LISTINGS
NYSE
Digital Realtytrust 7pc Series E
Medley LLC
Rexford Industrial Realty Inc pfd A
Seaspan Corp pfd H
NASDAQ GLOBAL AND GLOBAL SELECT MARKETS
Gladstone Land Corp 6…
INCREASED DIVIDENDS
Badger Meter .23 from .20
Briggs & Stratton .14 from .135
Brinker International .34 from .32
Chemical Financial .27 from .26
Delta Natural Gas .205 from .2075
First American Financial .34 from .26
ITC Holdings Corp .2155 from .1875
Nacco Industries .2675 from .2625
Nordson Corp .27 from .24
Pinnacle Foods .285 from .255
United Bancorp .11 from .10
Whirlpool Corp 1.00 from .90
g- Canadian funds
Reduced Dividends
Communications Systems .04 from .16
Other corporate news and listings:
DECLARED STOCK SPLITS
Brown-Forman Cl A & B 2 for 1 split
ACQUISITIONS AND Mergers
Minimum value $100 million
Cavium Inc – QLogic Corp (1.4B)
Huntington Bancshares Inc – FirstMerit Corp (3.4B)
Marketo Inc – Vista Eqity Partners Management (1.8B)
NEW STOCK LISTINGS
NYSE
Digital Realtytrust 7pc Series E
Medley LLC
Rexford Industrial Realty Inc pfd A
Seaspan Corp pfd H
NASDAQ GLOBAL AND GLOBAL SELECT MARKETS
Gladstone Land Corp 6…
Business Highlights
– canadianbusiness.com
___
US stocks take small losses as energy companies slide
NEW YORK (AP) — U.S. stocks took small losses Friday to end a quiet week of trading. Energy companies fell as a rally in oil prices faded and investors continue to sell the safe assets they favoured earlier this year. Technology and materials companies made small gains.
While U.S. oil prices rose for the seventh day in a row, investors don’t appear to expect further gains and they sold energy company shares. Bond prices fell and yields climbed.
___
Hiring was healthy in past year in many US swing states
WASHINGTON (AP) — Hiring has been strong in the past year in many presidential campaign swing states, a possible hurdle for GOP candidate Donald Trump, who has sought to capitalize on economic distress.
Employers have added jobs in the past 12 months at a faster pace than the national average in Colorado, Florida, Michigan and North Carolina, the Labor Department said Friday. Job gains have been solid but slightly below the national rate in other battleground states, such as Ohio and Virginia…
US stocks take small losses as energy companies slide
NEW YORK (AP) — U.S. stocks took small losses Friday to end a quiet week of trading. Energy companies fell as a rally in oil prices faded and investors continue to sell the safe assets they favoured earlier this year. Technology and materials companies made small gains.
While U.S. oil prices rose for the seventh day in a row, investors don’t appear to expect further gains and they sold energy company shares. Bond prices fell and yields climbed.
___
Hiring was healthy in past year in many US swing states
WASHINGTON (AP) — Hiring has been strong in the past year in many presidential campaign swing states, a possible hurdle for GOP candidate Donald Trump, who has sought to capitalize on economic distress.
Employers have added jobs in the past 12 months at a faster pace than the national average in Colorado, Florida, Michigan and North Carolina, the Labor Department said Friday. Job gains have been solid but slightly below the national rate in other battleground states, such as Ohio and Virginia…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,687.46, down 8.22 points):
Kinross Gold Corp. (TSX:K). Miner. Down 11 cents, or 1.71 per cent, to $6.32 on 4.3-million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 25 cents, or 3.57 per cent, to $6.75 on 3.9-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up eight cents, or 0.62 per cent, to $13.03 on 3.7-million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Down 77 cents, or 3.65 per cent, to $20.32 on 3.6-million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 13 cents, or 1.81 per cent, to $7.05 on 3.4-million shares.
Spartan Energy Corp. (TSX:SPE). Oil and gas. Down five cents, or 1.45 per cent, to $3.41 on 3.4-million shares.
Companies reporting major news:
Barrick Gold Corp. (TSX:ABX). Miner. Down 40 cents, or 1.49 per cent, to $26.48 on 2.6-million shares. The Moody’s Investors Service says it has lifted a “negative outlook” on Barrick Gold Corp…
Toronto Stock Exchange (14,687.46, down 8.22 points):
Kinross Gold Corp. (TSX:K). Miner. Down 11 cents, or 1.71 per cent, to $6.32 on 4.3-million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 25 cents, or 3.57 per cent, to $6.75 on 3.9-million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up eight cents, or 0.62 per cent, to $13.03 on 3.7-million shares.
Teck Resources Ltd. (TSX:TCK.B). Miner. Down 77 cents, or 3.65 per cent, to $20.32 on 3.6-million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 13 cents, or 1.81 per cent, to $7.05 on 3.4-million shares.
Spartan Energy Corp. (TSX:SPE). Oil and gas. Down five cents, or 1.45 per cent, to $3.41 on 3.4-million shares.
Companies reporting major news:
Barrick Gold Corp. (TSX:ABX). Miner. Down 40 cents, or 1.49 per cent, to $26.48 on 2.6-million shares. The Moody’s Investors Service says it has lifted a “negative outlook” on Barrick Gold Corp…
Paralympics faces ‘major budget cuts’ for Rio Games
– macleans.ca
RIO DE JANEIRO – The Paralympics will go ahead next month despite being forced to implement further “major budget cuts” to the games in Rio de Janeiro.
Poor ticket sales have compounded existing financial challenges in recession-battered Brazil which have been impacting the Olympics, which closes Sunday.
Rio now has less than three weeks to prepare for Paralympics, the pinnacle of the disability sport calendar.
“Never before in the 56 year history of the Paralympic Games have we faced circumstances like this,” International Paralympic Committee President Philip Craven said. “Since becoming aware of the full scale of the problem, we have focused all of our efforts on finding solutions to the problems.”
The IPC said it has already been imposing cuts over the last year and the fresh ones are set to affect every team and visitors to the games.
The workforce for the Paralympics will be downsized, transport services cut and media centres closed. The wheelchair fencing competition will move to a new venue, allowing the Deorodo Olympic Park to be closed and dismantled…
Poor ticket sales have compounded existing financial challenges in recession-battered Brazil which have been impacting the Olympics, which closes Sunday.
Rio now has less than three weeks to prepare for Paralympics, the pinnacle of the disability sport calendar.
“Never before in the 56 year history of the Paralympic Games have we faced circumstances like this,” International Paralympic Committee President Philip Craven said. “Since becoming aware of the full scale of the problem, we have focused all of our efforts on finding solutions to the problems.”
The IPC said it has already been imposing cuts over the last year and the fresh ones are set to affect every team and visitors to the games.
The workforce for the Paralympics will be downsized, transport services cut and media centres closed. The wheelchair fencing competition will move to a new venue, allowing the Deorodo Olympic Park to be closed and dismantled…
Quebec transport minister resigns amid scandal over sale of hardware chain
– canadianbusiness.com
QUEBEC – Quebec Transport Minister Jacques Daoust quit politics on Friday just hours after Premier Philippe Couillard indicated he no longer had full confidence in the minister.
Daoust, 68, had faced mounting criticism in recent months over his alleged role in authorizing the sale of a Quebec hardware chain to American giant Lowe’s while he was the province’s economy minister.
Although Daoust maintained he didn’t know about Investissement Quebec’s decision to sell its shares in Rona, emails sent in 2014 and obtained by TVA suggested the vice-president of the provincial investment agency had been given the go-ahead from Daoust’s former chief of staff.
Members of the opposition had called for Daoust’s resignation, accusing him of having lied to the public.
When asked earlier Friday if Daoust still had his confidence, Couillard said he wanted answers to the “serious questions” that had been raised about the Rona sale.
“Serious questions have been asked,” he said…
Daoust, 68, had faced mounting criticism in recent months over his alleged role in authorizing the sale of a Quebec hardware chain to American giant Lowe’s while he was the province’s economy minister.
Although Daoust maintained he didn’t know about Investissement Quebec’s decision to sell its shares in Rona, emails sent in 2014 and obtained by TVA suggested the vice-president of the provincial investment agency had been given the go-ahead from Daoust’s former chief of staff.
Members of the opposition had called for Daoust’s resignation, accusing him of having lied to the public.
When asked earlier Friday if Daoust still had his confidence, Couillard said he wanted answers to the “serious questions” that had been raised about the Rona sale.
“Serious questions have been asked,” he said…
