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Making sense of the markets this week: April 21, 2024 + MORE Apr 19th
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.
Canada’s unproductive budget
After talking a lot about how we really—finally—need to get serious about the decades.... More »
Investment is flowing out of Canada and into U.S. after tax changes, RBC president says + MORE Apr 2nd
The head of one of Canada's largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it's already leaving in "real time.".... More »
TSX Venture Exchange Stock Maintenance Bulletins - Canada NewsWire + MORE Dec 23rd
TSX Venture Exchange Stock Maintenance Bulletins Canada NewsWire.... More »
Should you set up a personal real estate corporation (PREC)? Nov 2nd
A personal real estate corporation, or PREC, allows a real estate agent to earn their business income through a corporation. Several o provinces, including British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, Nova Scotia and, most recently, Ontario, allow PRECs.
Several other professionals in .... More »
A simple guide to investing your first $500 Jan 22nd
For many young Canadians, the barrier to entry for investing feels impossibly high. Between student loans, rising rent, and the cost of living, scraping together a starter fund can seem daunting. Yet, as little as $500 to $1,000 is sufficient enough to begin building the habits that create long-ter.... More »
Barrick earnings beat expectations; Tanzania talks to start next week
– theglobeandmail.com
Toronto-based Barrick said adjusted net earnings rose to $261-million, or 22 cents a share, from $158-million, or 14 cents a share
Toronto housing market downturn to be short lived, federal housing agency says
– canadianbusiness.com
The recent downturn in Toronto’s real estate market, brought on after Ontario introduced measures this spring including a foreign buyers’ tax, is expected to be brief, the federal housing agency said Wednesday.
Property prices in the city _ which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board _ should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp. said.
“The response we’re seeing in the Toronto market seems almost emotional and a knee-jerk reaction to some of the changes, which suggests that these impacts will be short-lived,” Dana Senagama, CMHC’s principal market analyst for Toronto, said during a conference call to discuss the agency’s latest housing market assessment.
The provincial government’s measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes…
Property prices in the city _ which fell from an average of $919,589 in April to $793,915 last month, according to data from the Toronto Real Estate Board _ should pick up again due to supply constraints and a stronger economy, Canada Mortgage and Housing Corp. said.
“The response we’re seeing in the Toronto market seems almost emotional and a knee-jerk reaction to some of the changes, which suggests that these impacts will be short-lived,” Dana Senagama, CMHC’s principal market analyst for Toronto, said during a conference call to discuss the agency’s latest housing market assessment.
The provincial government’s measures, which were retroactive to April 21, include a 15 per cent tax on foreign buyers in the Greater Golden Horseshoe region, expanded rent controls and legislation allowing Toronto and other cities to tax vacant homes…
Loblaw expects higher minimum wage rules will increase its labour costs by $190M
– canadianbusiness.com
Canada’s largest grocery and drug store operator warned Wednesday that minimum wage increases in Ontario and Alberta threaten to harm its bottom line and it will have to find ways to cut costs.
Loblaw Companies Ltd. (TSX:L), which owns Shoppers Drug Mart and grocery chains including Loblaws and No Frills, estimates the wage hikes will mean its labour costs will grow by about $190 million next year.
“We are flagging a significant set of financial headwinds and the organization is mobilizing all of its resources to see whether or not it can close that gap,” Loblaw chairman and CEO Galen G. Weston told analysts during a quarterly earnings conference call.
“At this point, we don’t know the answer.”
The Ontario government has proposed legislation that would boost the hourly minimum wage, which is currently set to rise from $11.40 an hour to $11.60 in October, to $14 on Jan. 1 and $15 the following year.
The province has said the wage increases are intended to increase people’s purchasing power and stimulate the economy…
Loblaw Companies Ltd. (TSX:L), which owns Shoppers Drug Mart and grocery chains including Loblaws and No Frills, estimates the wage hikes will mean its labour costs will grow by about $190 million next year.
“We are flagging a significant set of financial headwinds and the organization is mobilizing all of its resources to see whether or not it can close that gap,” Loblaw chairman and CEO Galen G. Weston told analysts during a quarterly earnings conference call.
“At this point, we don’t know the answer.”
The Ontario government has proposed legislation that would boost the hourly minimum wage, which is currently set to rise from $11.40 an hour to $11.60 in October, to $14 on Jan. 1 and $15 the following year.
The province has said the wage increases are intended to increase people’s purchasing power and stimulate the economy…
Suncor chops Syncrude production target after fire
– theglobeandmail.com
The company reported net earnings for the three months ended June 30 of $435-million or 26 cents per share
