Stock news for investors: Cenovus boosts MEG Energy stake to 9.8% + MORE Oct 17th

Here’s a round-up of news for Canadian investors this week.

Cenovus-MEG Energy

Parkland-Sunoco

Cineplex

Featured RRSP Accounts

featured

EQ Bank

Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees.

go to site

featured

Registered GIC rate

Earn a guaranteed 3.00% in your RRSP when you lock in for 1 year.

go to site

Best RRSP rates

See our ranking of the best RRSP accounts and rates available in Canada.

read now

Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada…

UK stock market hit by nerves over US banks  BBCGlobal bank stocks waver as investors fear credit risks in U.S. regional banks  CBCAsian shares retreat after worries over bank lending pull Wall St lower  CityNews HalifaxWall Street steadies after its slide as banks recover some of their losses  BNN BloombergStocks Rise as Trump Reassures on China, Regional Banks Report  Bloomberg.com

Canadians send billions of dollars abroad every year, and pay hundreds of millions of dollars for the privilege. While the growing number of options to send money has helped push fees down, it still on average costs about 6%, or $12, to send a typical $200 remittance from Canada, according to the World Bank. Meanwhile, the volume of remittances from Canada has soared to top $18 billion last year, up from a little over $7 billion a decade ago, meaning even more money is being swallowed up by fees.

Stablecoins promise fast, low-cost international transfers

Stablecoin advocates, however, think they can help. “You can quickly send money anywhere in the world for less than a penny,” said Didier Lavallee, chief executive of digital asset company Tetra Trust Co., on the promise of so-called stablecoins.

Unlike often-volatile cryptocurrencies, whose prices are based on speculation, stablecoin issuers hold assets (mostly U.S. treasuries) to back up their value, making them a much more reliable way to hold, and send, funds…