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Investment returns: A great decade, after all + MORE Jan 21st
Disillusioned. Frustrated. Irate. Those few words likely describe how many investors felt in 2009 when they looked at the long-term performance of their investments. At that time a typical balanced portfolio of $50,000 would have grown to just $64,100—a 2.5% average annual return—after 10 years .... More »
Financial independence and travel: Can you have both? Apr 24th
In February and early March, as is increasingly our custom, my wife Ruth and I spent five weeks in a sunny clime in order to avoid the tail end of Canada’s winter. On our return from Malta, regular guest blogger Devin Partida contributed a relevant article titled “Can you pursue financial indepe.... More »
5 smart strategies for renewing your mortgage + MORE Mar 24th
Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rat.... More »
Why targeted reforms will raise investment advisers’ standards Jun 5th
The best-interest standard proposed by Ontario and New Brunswick sounds good, but what does it really mean?
.... More »
Don’t bank on a big inheritance + MORE Feb 20th
Praying for an inheritance is hardly a sound financial plan, but a recent BMO poll found that two-thirds of Canadians are counting on receiving one to help them pay down mortgage debt, fund a child’s education or build up their investments. They shouldn’t. Only about half of those surveyed in Ju.... More »
3.5 year – 2.20%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-10-20. Click on the link above to get more details or apply online.
40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries
– canadianbusiness.com
ALBANY, N.Y. – Insurance company American International Group Inc. has agreed to pay New York state $35 million to settle claims that two former subsidiaries did business without licenses and misled regulators about their operations in the state.
The deal was announced Friday by the state Department of Financial Services. It comes after a $60 million settlement in March with MetLife, which purchased the subsidiaries from AIG.
Authorities had alleged subsidiaries American Life Insurance Co. and Delaware American Life Insurance Co. sought customers in New York without licenses and without telling regulators.
Under the settlement, AIG will drop a legal challenge to the state’s probe and the state will not proceed with charges or a lawsuit.
AIG says it agreed to the settlement to avoid the expense and distraction of litigation.
The post Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries appeared first on Canadian Business.
The deal was announced Friday by the state Department of Financial Services. It comes after a $60 million settlement in March with MetLife, which purchased the subsidiaries from AIG.
Authorities had alleged subsidiaries American Life Insurance Co. and Delaware American Life Insurance Co. sought customers in New York without licenses and without telling regulators.
Under the settlement, AIG will drop a legal challenge to the state’s probe and the state will not proceed with charges or a lawsuit.
AIG says it agreed to the settlement to avoid the expense and distraction of litigation.
The post Insurer AIG to pay $35M fine to New York to resolve licensing probe of 2 subsidiaries appeared first on Canadian Business.
Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021
– canadianbusiness.com
STAMFORD, Conn. – Gov. Dannel P. Malloy says financial services giant UBS has committed to remaining in Connecticut through 2021.
The Democrat announced Friday that UBS and the state have amended their partnership agreement. It provided UBS with a $20 million loan that was fully forgivable if the company maintained 2,000 jobs for five years. Under the amended arrangement, the same $20 million loan will be forgiven, but the percentage of forgiveness will be based on the number of jobs retained annually, through 2021.
Economic Development Commissioner Catherine Smith said if the number of jobs declines, a portion of the loan must be repaid. She called the new formula “a win-win proposition.”
Malloy recently cast doubt that UBS, with offices in Stamford, would keep the 2,000 jobs through the end of 2016.
The post Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021 appeared first on Canadian Business.
The Democrat announced Friday that UBS and the state have amended their partnership agreement. It provided UBS with a $20 million loan that was fully forgivable if the company maintained 2,000 jobs for five years. Under the amended arrangement, the same $20 million loan will be forgiven, but the percentage of forgiveness will be based on the number of jobs retained annually, through 2021.
Economic Development Commissioner Catherine Smith said if the number of jobs declines, a portion of the loan must be repaid. She called the new formula “a win-win proposition.”
Malloy recently cast doubt that UBS, with offices in Stamford, would keep the 2,000 jobs through the end of 2016.
The post Gov. Malloy says financial services giant UBS will remain in Connecticut through 2021 appeared first on Canadian Business.
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.
