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Investment firms are snapping up U.S. homes. In Canada, the trend is 'in its infancy,' says Remax boss - CBC News + MORE Aug 3rd
Investment firms are snapping up U.S. homes. In Canada, the trend is 'in its infancy,' says Remax boss CBC News.... More »
ADB Oks 1st co-financing with China’s AIIB for Pakistan road + MORE Jun 10th
MANILA, Philippines – The Asian Development Bank announced Friday its approval of a $100 million loan for a highway project in Pakistan, marking its first co-financing with the China-led Asian Infrastructure Investment Bank.
AIIB will provide a $100 million counterpart loan subject to its boar.... More »
What’s the TFSA limit? Here’s the maximum you can contribute for 2017 Jan 9th
The TFSA limit determines how much you can deposit in your Tax-Free Savings Account each year.
The TFSA limit for 2017:
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Can an estate contribute to an RESP account? Dec 20th
Can money left in a will to be put in a trust fund for a child under 18 be put into an RESP?—Paula
Using a trust to contribute to an RESP
A registered education savings plan (RESP) is a great way to save for post-secondary education. RESP contributions of up to $2,500 per year attract a 20% .... More »
New Apple Leak Reveals Exciting MacBook Air Future - Forbes Nov 7th
New Apple Leak Reveals Exciting MacBook Air Future ForbesMemory leaks are crippling my M1 MacBook Pro–and I'm not alone MacworldShould you get the new Apple MacBook Pro 14? Notebookcheck.netDeals: Apple's 2021 16-inch MacBook Pro is back in stock and on sale right .... More »
Business Highlights
– canadianbusiness.com
___
Market jolt is reality check for investors
NEW YORK (AP) — Sometimes a little fear is healthy for stock investors.
A violent lurch lower nine days ago knocked the Standard & Poor’s 500 index down as much as 7.4 per cent from its September peak as fears of a global economic slowdown intensified. Stocks have revived this week, thanks to strong corporate earnings, and on Friday the S&P 500 was marching toward its best performance in nearly two years.
How should investors view this intense flip-flop? As an overdue reminder that stocks aren’t a one-way ride up.
While last week’s slump doesn’t technically count as a correction — defined as a 10-per cent drop from a peak — that’s how many professional investors view it.
In fact, such sell-offs often provide a base for another move higher in stocks, market observer say.
___
Venezuelans brace for slump in oil prices
CARACAS, Venezuela (AP) — The falling oil prices that are providing relief to drivers around the world threaten to bring more misery to the life of Milagro Alvarez and millions of other Venezuelans, whose country depends almost exclusively on oil revenue…
Market jolt is reality check for investors
NEW YORK (AP) — Sometimes a little fear is healthy for stock investors.
A violent lurch lower nine days ago knocked the Standard & Poor’s 500 index down as much as 7.4 per cent from its September peak as fears of a global economic slowdown intensified. Stocks have revived this week, thanks to strong corporate earnings, and on Friday the S&P 500 was marching toward its best performance in nearly two years.
How should investors view this intense flip-flop? As an overdue reminder that stocks aren’t a one-way ride up.
While last week’s slump doesn’t technically count as a correction — defined as a 10-per cent drop from a peak — that’s how many professional investors view it.
In fact, such sell-offs often provide a base for another move higher in stocks, market observer say.
___
Venezuelans brace for slump in oil prices
CARACAS, Venezuela (AP) — The falling oil prices that are providing relief to drivers around the world threaten to bring more misery to the life of Milagro Alvarez and millions of other Venezuelans, whose country depends almost exclusively on oil revenue…
Regulators close small bank in Illinois; brings US bank failures to 16 in 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Illinois, bringing U.S. bank failures this year to 16 after 24 closures in all of 2013.
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
The Federal Deposit Insurance Corp. said Friday that it has taken over The National Republic Bank of Chicago, based in Chicago.
The bank, which operated two branches, had about $954.4 million in assets and $915.3 million in deposits as of June 30.
State Bank of Texas, based in Dallas, has agreed to buy about $626.1 million of the failed bank’s assets and assume all of National Republic Bank’s deposits.
National Republic Bank is the fifth FDIC-insured institution to fail in Illinois this year. Its failure is expected to cost the deposit insurance fund $111.6 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
US stocks rise as more companies post gains
– moneysense.ca
(Getty Images/Sandra Bake)
NEW YORK, N.Y. – Stocks are rising in midday trading as U.S. companies report more earnings gains.
UPS and Microsoft rose after reporting earnings that were higher than analysts were expecting. Procter & Gamble rose after saying it would make its Duracell battery business a stand-alone company.
The Dow Jones industrial average rose 84 points, or 0.5 per cent, to 16,762 as of 11:55 a.m. Eastern time Friday. The Dow jumped 216 points the day before.
The Standard & Poor’s 500 index rose eight points, or 0.5 per cent, to 1,959. The Nasdaq composite rose 17 points, or 0.4 per cent, to 4,470.
Crude oil fell 99 cents to $81.12 a barrel in New York.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 per cent.
(Canadian Business / Associated Press)
The post US stocks rise as more companies post gains appeared first on MoneySense.
Capital Power post $45M net loss in Q3; cites writedown on tax assets, outages
– canadianbusiness.com
EDMONTON – Capital Power Corp. (TSX:CPX) has reported a net loss attributable to shareholders in the third quarter of $45 million or 62 cents per diluted share, a reversal from net income of $44 million or 51 cents per diluted share in the comparable 2013 period.
The Edmonton-based utility, which has assets in both Canada and the United State, blamed the loss on a $73-million non-cash writedown of deferred tax assets as well as the timing of both unplanned outages and the extension of a planned outage in the quarter.
Revenue in the period totalled $248 million, down from $380 million.
“Financial results in the third quarter were below our expectations, primarily due to an extended planned outage and unplanned outages at the acquired Sundance PPA units and other plant derates,” president and CEO Brian Vaasjo said in the earnings release, issued Friday after markets closed.
Vaasjo said the outages occurred primarily in July when Alberta spot power prices averaged $122 per megawatt hour…
The Edmonton-based utility, which has assets in both Canada and the United State, blamed the loss on a $73-million non-cash writedown of deferred tax assets as well as the timing of both unplanned outages and the extension of a planned outage in the quarter.
Revenue in the period totalled $248 million, down from $380 million.
“Financial results in the third quarter were below our expectations, primarily due to an extended planned outage and unplanned outages at the acquired Sundance PPA units and other plant derates,” president and CEO Brian Vaasjo said in the earnings release, issued Friday after markets closed.
Vaasjo said the outages occurred primarily in July when Alberta spot power prices averaged $122 per megawatt hour…
The Ford Motor Co. is saying adios to plans for a new Windsor, Ont.-built global engine, opting to take the investment and jobs to Mexico, the autoworkers union says.
