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Canadian workers saving less; more living paycheque to paycheque: survey
– canadianbusiness.com
TORONTO – The Canadian Payroll Association says things are getting tougher for working Canadians.
The CPA, in its sixth annual survey of thousands of Canadian employees, says it found more are living paycheque to paycheque, most are saving less than they should and even more are falling further behind in meeting their retirement goals.
The association said the survey found that more than half of employees — 51 per cent — would find it difficult to meet their financial obligations if their paycheque were delayed by a single week. That was up from an average of 49 per cent over the past three years.
For those aged 18 to 29, the number is even higher — 63 per cent report living paycheque to paycheque.
Meanwhile, more than a quarter of respondents — 26 per cent — said they probably could not come up with $2,000 over the next month if an emergency expense arose.
And more than half reported saving just five per cent or less of their paycheque versus the 10 per cent recommended by financial planning experts, while 79 per cent expected to delay retirement until age 60 or older, up from an average of 70 per cent over the past three years…
The CPA, in its sixth annual survey of thousands of Canadian employees, says it found more are living paycheque to paycheque, most are saving less than they should and even more are falling further behind in meeting their retirement goals.
The association said the survey found that more than half of employees — 51 per cent — would find it difficult to meet their financial obligations if their paycheque were delayed by a single week. That was up from an average of 49 per cent over the past three years.
For those aged 18 to 29, the number is even higher — 63 per cent report living paycheque to paycheque.
Meanwhile, more than a quarter of respondents — 26 per cent — said they probably could not come up with $2,000 over the next month if an emergency expense arose.
And more than half reported saving just five per cent or less of their paycheque versus the 10 per cent recommended by financial planning experts, while 79 per cent expected to delay retirement until age 60 or older, up from an average of 70 per cent over the past three years…
120 days – 1.75%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-06-06. Click on the link above to get more details or apply online.
Spanish banking titan Emilio Botin dies of heart attack, led financial group Banco Santander
– canadianbusiness.com
MADRID – Spanish banking magnate Emilio Botin, who built the country’s Banco Santander into a global financial giant, has died of a heart attack. He was 79.
Botin was known for his hands-on leadership of the bank and turned the small institution run by his father into the eurozone’s largest by market capitalization through a series of acquisitions.
He also transformed it into a major banking player in Latin America. Botin rubbed shoulders frequently with Spanish and Latin American political leaders.
Bank parent company Grupo Santander said in a statement that the board will meet Wednesday to name Botin’s successor as chairman.
A bank spokeswoman said he died Tuesday night after a heart attack at his home. She spoke on condition of anonymity because of company rules preventing her from being named.
The post Spanish banking titan Emilio Botin dies of heart attack, led financial group Banco Santander appeared first on Canadian Business.
Botin was known for his hands-on leadership of the bank and turned the small institution run by his father into the eurozone’s largest by market capitalization through a series of acquisitions.
He also transformed it into a major banking player in Latin America. Botin rubbed shoulders frequently with Spanish and Latin American political leaders.
Bank parent company Grupo Santander said in a statement that the board will meet Wednesday to name Botin’s successor as chairman.
A bank spokeswoman said he died Tuesday night after a heart attack at his home. She spoke on condition of anonymity because of company rules preventing her from being named.
The post Spanish banking titan Emilio Botin dies of heart attack, led financial group Banco Santander appeared first on Canadian Business.
60 days – 1.75%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-06-06. Click on the link above to get more details or apply online.
German startup incubator Rocket Internet announces public listing this year
– canadianbusiness.com
BERLIN – Germany’s startup factory Rocket Internet AG says it plans a public listing on the Frankfurt stock exchange this year.
The privately held company has launched dozens of online businesses around the world, often copying successful rivals.
The announcement Wednesday comes a week after one of its main investments, fashion retailer Zalando, itself revealed plans for an IPO. Rocket Internet said the listing “is intended to take place later in 2014″ but gave no specific date.
Rocket Internet says it plans to raise 750 million euros ($968 million) to help it become the largest Internet platform outside of the United States and China.
Since 2007 Rocket Internet has established startups with more than 20,000 staff in over 100 countries.
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The privately held company has launched dozens of online businesses around the world, often copying successful rivals.
The announcement Wednesday comes a week after one of its main investments, fashion retailer Zalando, itself revealed plans for an IPO. Rocket Internet said the listing “is intended to take place later in 2014″ but gave no specific date.
Rocket Internet says it plans to raise 750 million euros ($968 million) to help it become the largest Internet platform outside of the United States and China.
Since 2007 Rocket Internet has established startups with more than 20,000 staff in over 100 countries.
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http://www.rocket-internet.com
The post German startup incubator Rocket Internet announces public listing this year appeared first on Canadian Business.
