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Facebook settles lawsuit over 2012 IPO for $35-million + MORE Feb 26th
Shareholders accused Facebook of concealing internal concerns about how growth in mobile devices might reduce revenue, even as it quietly warned its banks to cut their forecasts
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China tries to reassure over economy at G20 meeting Feb 27th
SHANGHAI – China’s premier has tried to quell anxiety about his slowing economy as officials at a global finance meeting called for governments to speed up job-creating reforms to stimulate slackening growth.
In a video message Friday at the meeting of finance ministers and central banks.... More »
The best high-interest savings accounts in Canada for 2024 + MORE Nov 19th
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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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Boomer generation to inherit an estimated $750 billion + MORE Jun 6th
TORONTO – One of Canada’s big banks estimates that $750 billion will be inherited by members of the Boomer generation over the next decade.
CIBC says there are currently about 2.5 million Canadians over the age of 75 with a total net worth of $900 billion or more.
Are there ways to avoid tax on .... More »
Bomb rocks Lebanon's capital, one wounded - The Globe and Mail (subscription) + MORE Jun 12th
The Globe and Mail (subscription)Bomb rocks Lebanon's capital, one woundedThe Globe and Mail (subscription)A powerful bomb in Beirut destroyed several cars, severely damaged one of Lebanon's biggest banks and wounded one person on Sunday. The state-run National News Agency said the bomb wa.... More »
FDIC selling $2.4B in Citigroup bonds issued during crisis; ends government holding in bank
– canadianbusiness.com
WASHINGTON – The U.S. government is selling $2.4 billion in bonds issued by Citigroup Inc. during the financial crisis in exchange for federal guarantees against the bank’s possible losses.
The sale by the Federal Deposit Insurance Corp. ends the government’s holdings in the third-largest U.S. bank. Citigroup said in a regulatory filing Monday that it won’t receive any proceeds from the sale.
The FDIC received the bonds in November 2008 for guaranteeing hundreds of billions in potential losses on loans made by Citigroup. Citigroup was the only bank in which the FDIC took a stake during the crisis.
New York-based Citigroup was one of the hardest-hit banks during the crisis. It received a $45 billion bailout from the Treasury Department, one of the largest of the rescue program. Citigroup repaid the bailout.
The post FDIC selling $2.4B in Citigroup bonds issued during crisis; ends government holding in bank appeared first on Canadian Business.
The sale by the Federal Deposit Insurance Corp. ends the government’s holdings in the third-largest U.S. bank. Citigroup said in a regulatory filing Monday that it won’t receive any proceeds from the sale.
The FDIC received the bonds in November 2008 for guaranteeing hundreds of billions in potential losses on loans made by Citigroup. Citigroup was the only bank in which the FDIC took a stake during the crisis.
New York-based Citigroup was one of the hardest-hit banks during the crisis. It received a $45 billion bailout from the Treasury Department, one of the largest of the rescue program. Citigroup repaid the bailout.
The post FDIC selling $2.4B in Citigroup bonds issued during crisis; ends government holding in bank appeared first on Canadian Business.
Richardson GMP buys Macquarie’s Canadian wealth management unit
– theglobeandmail.com
Deal worth $132-million reflects bulking up by independent brokerages to compete with the big banks
5 things your bank teller isn’t telling you
– moneysense.ca
We can drop fees. Why dig into your pockets when tellers routinely waive bank draft, certified cheque and overdraft fees? There’s no harm in asking for a break, especially in extenuating circumstances or when service is slow. “If I take forever with a transaction then I waive the fee as a courtesy,” said a teller who has worked at several major Canadian banks.
We have sales quotas. Most tellers have monthly credit-card and referral quotas based on hours worked and tied to year-end bonuses, so watch out for aggressive over-the-counter sales pitches. Some banks even have special premiums that make bonuses skyrocket after a certain amount of product is sold. Even credit limit increases count toward quotas at some banks.
We overlook details. Tellers often miss the date on postdated cheques and process them anyway. If and when a premature transaction is caught, you will be called by the bank to return the money until the original date transpires. It’s best to double-check when cashing a cheque since the onus is on you…
We have sales quotas. Most tellers have monthly credit-card and referral quotas based on hours worked and tied to year-end bonuses, so watch out for aggressive over-the-counter sales pitches. Some banks even have special premiums that make bonuses skyrocket after a certain amount of product is sold. Even credit limit increases count toward quotas at some banks.
We overlook details. Tellers often miss the date on postdated cheques and process them anyway. If and when a premature transaction is caught, you will be called by the bank to return the money until the original date transpires. It’s best to double-check when cashing a cheque since the onus is on you…
