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Business Highlights + MORE Feb 16th
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The Big Uh-Oh: Global economy shaky and cavalry may not come
WASHINGTON (AP) — Eight years after the financial crisis, the world is coming to grips with an unpleasant realization: serious weaknesses still plague the global economy, and emergency help may not be on the way.
Sinking stock prices.... More »
The best GIC rates in Canada for 2024 + MORE May 24th
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The best GIC rates in Canada for 2024
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
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Union Pacific 2Q profit falls 19 per cent as volume slows + MORE Jul 21st
OMAHA, Neb. – Union Pacific’s second-quarter profit fell 19 per cent as the railroad hauled 11 per cent less freight.
The railroad said Thursday that full-year volumes are likely to fall 6 per cent to 8 per cent because of the soft global economy, strong U.S. dollar and weak consumer dem.... More »
Can debt consolidation help with Canadian student loans? Sep 29th
Ask MoneySense
My parents have RESP savings, and I have a few part-time jobs and some support from other family members. But it’s not enough. I am wondering about OSAP, as I have a tight budget. My parents always warned me that taking on debt was “bad,” though, because they had student lo.... More »
How to survive a recession: Six tips for Gen Z and those who haven’t faced one before + MORE Jan 16th
As we begin 2023, young adults face a looming recession—and it remains to be seen whether it will be a mild or moderate one. What does an economic downturn mean for Gen Z? What should those just entering their careers, moving out on their own and aspiring for more financial independence do right n.... More »
90 days – 2.00%
– ratesupermarket.ca
This GIC rate is offered by Oaken Financial and was updated on 2014-10-06. Click on the link above to get more details or apply online.
Hundreds of HK police use sledgehammers and chainsaws to dismantle protest … – Reuters
– news.google.ca
ReutersHundreds of HK police use sledgehammers and chainsaws to dismantle protest …ReutersHONG KONG (Reuters) – Hundreds of Hong Kong police used sledgehammers and chainsaws to dismantle pro-democracy barricades near government offices and the city's financial centre on Tuesday, a day after clashes broke out as anti-protest groups …Hong Kong police dismantle more protest barricadesFox NewsHong Kong police take chainsaws to democracy protesters' barricadesLos Angeles TimesBlackRock Warns of Potential China Capital FlightWall Street Journal (blog)Independent Online -iAfrica.com -Bloombergall 4,312 news articles »
Trial begins for former UBS banker accused of helping US wealthy hide $20B from IRS
– canadianbusiness.com
FORT LAUDERDALE, Fla. – Jury selection is set to begin for the trial of a former top executive at Swiss bank UBS AG on charges of helping thousands of wealthy Americans conceal some $20 billion in assets from the Internal Revenue Service.
Raoul Weil faces up to five years in prison if convicted of fraud conspiracy. Jury selection begins Tuesday morning in Fort Lauderdale federal court for a trial expected to last several weeks.
Weil was formerly head of wealth management at UBS. He was originally indicted in 2008 and was a fugitive until his 2013 arrest in Italy. Weil pleaded not guilty after his extradition to the U.S.
In 2009, UBS paid a $780 million fine and agreed to turn over names of customers suspected of evading U.S. taxes. Many were later prosecuted.
The post Trial begins for former UBS banker accused of helping US wealthy hide $20B from IRS appeared first on Canadian Business.
Raoul Weil faces up to five years in prison if convicted of fraud conspiracy. Jury selection begins Tuesday morning in Fort Lauderdale federal court for a trial expected to last several weeks.
Weil was formerly head of wealth management at UBS. He was originally indicted in 2008 and was a fugitive until his 2013 arrest in Italy. Weil pleaded not guilty after his extradition to the U.S.
In 2009, UBS paid a $780 million fine and agreed to turn over names of customers suspected of evading U.S. taxes. Many were later prosecuted.
The post Trial begins for former UBS banker accused of helping US wealthy hide $20B from IRS appeared first on Canadian Business.
4.5 year – 2.50%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-06-13. Click on the link above to get more details or apply online.
More businesses positive about finances, but still don’t plan on expanding: poll
– canadianbusiness.com
TORONTO – The majority of Canadian business owners recently polled say they are optimistic about the future, but have no plans on growing their businesses.
The CIBC survey of 800 owners and managers found that 84 per cent have a positive outlook for their businesses, while about 44 per cent say their financial standing is better today than it was a year ago.
Yet despite the optimism, only about a third (37 per cent) are counting on expanding their businesses in the next three years.
A majority (79 per cent) of those polled also say they are sitting on cash reserves, with 40 per cent saying they’re not earning any interest on this cash.
But of those who do plan on expansion, 60 per cent say they won’t be using cash reserves. Instead, they’ll use credit cards, loans or money out of their own pocket to fund their company’s growth.
Shelley Swanlund, vice-president of business banking and the head of small business at CIBC, says business owners should not see their cash reserves as a “rainy day” fund to be used for emergencies, but instead, a fund to help expand their businesses…
The CIBC survey of 800 owners and managers found that 84 per cent have a positive outlook for their businesses, while about 44 per cent say their financial standing is better today than it was a year ago.
Yet despite the optimism, only about a third (37 per cent) are counting on expanding their businesses in the next three years.
A majority (79 per cent) of those polled also say they are sitting on cash reserves, with 40 per cent saying they’re not earning any interest on this cash.
But of those who do plan on expansion, 60 per cent say they won’t be using cash reserves. Instead, they’ll use credit cards, loans or money out of their own pocket to fund their company’s growth.
Shelley Swanlund, vice-president of business banking and the head of small business at CIBC, says business owners should not see their cash reserves as a “rainy day” fund to be used for emergencies, but instead, a fund to help expand their businesses…
