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Silicon Valley Bank's Toronto branch assets seized - CP24 Mar 13th
Silicon Valley Bank's Toronto branch assets seized CP24Canada's top banking regulator takes temporary control of Silicon Valley Bank's Canadian branch CBC NewsOSFI takes control of Silicon Valley Bank's Canadian unit The Globe and MailSVB collapse puts Fed's faith in.... More »
Toronto millennials want to be homeowners but only 22% believe they can do it in the city: survey - CBC.ca + MORE Aug 25th
Toronto millennials want to be homeowners but only 22% believe they can do it in the city: survey CBC.caShould I stay or should I own: Half of Canadian millennials say they’d have to leave the city they love to buy a home Toronto StarRoyal LePage releases report that sheds li.... More »
2018 Financial Goals – May Update + MORE May 7th
Save, invest, prosper with My Own Advisor.
2018 Financial Goals – May Update Spring has finally sprung in Ottawa! That means since my last update here, it’s time for a financial goals update. Now, as a reminder, here are our two big hairy audacious long-term financial goals: Become debt-free bef.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Jun 16th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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How financial advisors can help at different life stages Mar 22nd
When it comes to figuring out your finances and planning for the future, working with a pro can make this process easier. Canadians who feel hopeful about their financial future are more likely to be working with a financial professional, according to research by FP Canada.
Depending on you.... More »
Crowdfunding campaign to save Toys “R” Us doesn’t include Canadian stores
– canadianbusiness.com
TORONTO _ Toy company executive Isaac Larian is hoping to keep Toys “R” Us’s Canadian operations from going out of business, but a $1 billion crowdfunding campaign he launched to rescue the company doesn’t include the country’s stores.
The executive behind California-based MGA Entertainment Inc., which makes Little Tikes, Bratz and L.O.L. Surprise! toys, announced on Thursday that he and some affiliated investors were seeking $800 million from toy lovers in hopes of acquiring “all or some” of Toy “R” Us’s assets, thus “saving the retail chain and preserving the Toys “R” Us experience for future generations.“
The efforts focus on Toys “R” Us’s U.S. stores and are separate from Larian’s attempts to buy the brand’s 82 Canadian stores, which 20 interested parties are vying for, said Toys “R” Us bankruptcy documents filed in the U.S.
“Toys ”R“ Us Canada is a good business,” Larian said in a statement previously…
The executive behind California-based MGA Entertainment Inc., which makes Little Tikes, Bratz and L.O.L. Surprise! toys, announced on Thursday that he and some affiliated investors were seeking $800 million from toy lovers in hopes of acquiring “all or some” of Toy “R” Us’s assets, thus “saving the retail chain and preserving the Toys “R” Us experience for future generations.“
The efforts focus on Toys “R” Us’s U.S. stores and are separate from Larian’s attempts to buy the brand’s 82 Canadian stores, which 20 interested parties are vying for, said Toys “R” Us bankruptcy documents filed in the U.S.
“Toys ”R“ Us Canada is a good business,” Larian said in a statement previously…
Markets tumble as protectionist fears grow over Donald Trump’s new China tariffs
– theglobeandmail.com
Dow plunges more than 700 points while TSX suffers worst loss since 2016
CNN Chief Jeff Zucker Calls Fox News 'State-Run TV,' Blasts Facebook 'Fake News' – Newsweek
– news.google.ca
CNN Chief Jeff Zucker Calls Fox News 'State-Run TV,' Blasts Facebook 'Fake News'NewsweekCNN President Jeff Zucker took several shots at cable news competitor Fox News on Thursday, labeling its programming as “state-run TV” and a “propaganda machine.” Speaking at the Financial Times Future of News conference in New York City on Thursday …and more »
What to know about mortgages from alternative lenders
– moneysense.ca
TORONTO — Samantha Brookes has been warning Canadians to take a close look at the clauses in their mortgage contracts for years, but her refrain has become a bit more prevalent in recent months.
Since the Office of the Superintendent of Financial Institutions’ mortgage stress test was implemented in January, the founder of the Mortgages of Canada brokerage has seen “a huge influx” of Canadians who fail to qualify for a bank mortgage turning to alternative lenders that range from risky loan sharks to larger, more conventional companies like Home Trust.
READ: Your mortgage is about to get more expensive
While alternative lenders can provide a lifeline for Canadians who have run out of other financing options, Brookes said they come with pitfalls for those who don’t bother looking at the fine print.
“You need to read those contracts,” she said. “(With an alternative lender), the interest rates are higher, the qualifying rate is higher than if you were going with a traditional bank and they are going to charge one per cent of the mortgage amount (as a lender’s fee) for closing, so that means your closing costs increase…
Since the Office of the Superintendent of Financial Institutions’ mortgage stress test was implemented in January, the founder of the Mortgages of Canada brokerage has seen “a huge influx” of Canadians who fail to qualify for a bank mortgage turning to alternative lenders that range from risky loan sharks to larger, more conventional companies like Home Trust.
READ: Your mortgage is about to get more expensive
While alternative lenders can provide a lifeline for Canadians who have run out of other financing options, Brookes said they come with pitfalls for those who don’t bother looking at the fine print.
“You need to read those contracts,” she said. “(With an alternative lender), the interest rates are higher, the qualifying rate is higher than if you were going with a traditional bank and they are going to charge one per cent of the mortgage amount (as a lender’s fee) for closing, so that means your closing costs increase…
North American markets plunge as Trump moves to impose China tariffs
– canadianbusiness.com
TORONTO _ North American markets closed down sharply as U.S. President Donald Trump stoked fears of rising protectionism by moving to impose tariffs on some Chinese goods.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 275.35 points to 15,399.93 in broad-based declines led by base metals.
In New York, the Dow Jones industrial average closed down 724.42 points to 23,957.89. The S&P 500 index was down 68.24 points to 2,643.69 and the Nasdaq composite index was down 178.61 points to 7,166.68.
The Canadian dollar closed at 77.47 cents US, up 0.30 of a US cent.
The May crude contract closed down 87 cents to US$64.30 per barrel and the May natural gas contract, which has become the new benchmark, ended down a penny at US$2.66 per mmBTU.
The April gold contract closed up $5.90 to US$1,327.40 an ounce and the May copper contract was down four cents to US$3.02 a pound.
The post North American markets plunge as Trump moves to impose China tariffs appeared first on Canadian Business – Your Source For Business News.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 275.35 points to 15,399.93 in broad-based declines led by base metals.
In New York, the Dow Jones industrial average closed down 724.42 points to 23,957.89. The S&P 500 index was down 68.24 points to 2,643.69 and the Nasdaq composite index was down 178.61 points to 7,166.68.
The Canadian dollar closed at 77.47 cents US, up 0.30 of a US cent.
The May crude contract closed down 87 cents to US$64.30 per barrel and the May natural gas contract, which has become the new benchmark, ended down a penny at US$2.66 per mmBTU.
The April gold contract closed up $5.90 to US$1,327.40 an ounce and the May copper contract was down four cents to US$3.02 a pound.
The post North American markets plunge as Trump moves to impose China tariffs appeared first on Canadian Business – Your Source For Business News.
