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Many Canadians are raiding their RRSPs just to get by + MORE Feb 8th
Plus: Watch Bombardier stock in wake of federal aid. France's Le Pen spooks markets. Housing starts, earnings on tap. And ... lucky in love with a BlackBerry
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Calgary real estate market flush with luxury homes + MORE Jun 1st
It's a buyer's market in Calgary right now for luxury homes. There are roughly 600 listings for homes worth more than $1 million in the city, and only 65 sold last month..... More »
Saudi Arabia freezes new trade, investment after Canada demands activists be freed - CBC.ca + MORE Aug 6th
CBC.caSaudi Arabia freezes new trade, investment after Canada demands activists be freedCBC.caSaudi Arabia says it has ordered Canada's ambassador to leave the country, and is freezing all new trade and investment transactions with Canada in a spat over human rights. Ottawa is 'seeking gre.... More »
Trudeau announces two-way investment deal with India worth $1-billion + MORE Feb 20th
The news came after Prime Minister Justin Trudeau spent his third morning in India meeting with six of this country’s most influential business tycoons
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CPP Investment Board to buy Houston office portfolio for $1.2-billion + MORE Jun 30th
CPPIB says Parkway fits well with its long-term real estate strategy and gives it additional scale in the Texas city
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Three plaintiffs in Windsor, Ont. have sued Takata Corp. for $2.4 billion Cdn, the company said in a notice to the Tokyo Stock Exchange on Friday.
Swiss bankers avoid prison, get probation for tax fraud; helped US customers hide billions
– canadianbusiness.com
ALEXANDRIA, Va. – Two former Swiss bankers avoided jail time Friday for their roles in a tax fraud scheme that helped U.S. customers hide billions of dollars in assets.
Prosecutors in U.S. District Court in Alexandria recommended probation for the two men, Andreas Bachmann and Josef Dorig. The two were among eight former employees of Zurich-based Credit Suisse and its subsidiaries who were indicted in 2011. The other six remain at large.
Bachmann and Dorig voluntarily came to the U.S. to face charges and have co-operated with prosecutors’ investigation. Last year, Credit Suisse pleaded guilty to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and regulators.
The recommendation for probation came despite the fact that federal sentencing guidelines called for prison terms of more than four years.
Judge Gerald Bruce Lee could have imposed a prison sentence despite prosecutors’ recommendation, but chose not to.
“I see no reason to put you in jail,” Lee told Bachmann, cutting him off mid-apology…
Prosecutors in U.S. District Court in Alexandria recommended probation for the two men, Andreas Bachmann and Josef Dorig. The two were among eight former employees of Zurich-based Credit Suisse and its subsidiaries who were indicted in 2011. The other six remain at large.
Bachmann and Dorig voluntarily came to the U.S. to face charges and have co-operated with prosecutors’ investigation. Last year, Credit Suisse pleaded guilty to aiding U.S. tax evaders and agreed to pay about $2.6 billion to the U.S. government and regulators.
The recommendation for probation came despite the fact that federal sentencing guidelines called for prison terms of more than four years.
Judge Gerald Bruce Lee could have imposed a prison sentence despite prosecutors’ recommendation, but chose not to.
“I see no reason to put you in jail,” Lee told Bachmann, cutting him off mid-apology…
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.
Stock exchange deterring high-frequency trading launches
– moneysense.ca
(Getty Images / Jose Luis Pelaez Inc)TORONTO – A new stock exchange aimed at deterring high-frequency trading strategies will launch and celebrate its first trade today.
Royal Bank (TSX:RY) is among the supporters of the new Aequitas Neo Exchange, along with U.K.-based Barclays banking group, Canadian pension fund PSP Investments, telecom BCE Inc. (TSX:BCE) and several brokerages.
Named Aequitas after the Latin word for equality and fairness, the new exchange hopes to rival the Toronto Stock Exchange and other markets owned by the TMX Group (TSX:X), which cater to high-volume traders in order to generate revenue.
Aequitas has said it plans to use high fees and a time delay to deter high-frequency trading (HFT) strategies, which have been criticized for leaving traditional investors at a disadvantage.
These practices have been blamed for inserting artificial volatility into the markets by using superfast computers to engage in activities such as exploratory trading, or making small orders to see if there is interest in a stock…
New Questrade ETFs not part of Portfolio IQ
– moneysense.ca
(Blend Images/Hill Street Studios)Here’s an interesting development in the general field of discount brokers, ETF makers and robo advisers.
Last November, Questrade Wealth Management Inc. (QWM, a subsidiary off discount brokerage Questrade Financial Group Inc.) launched an “online wealth management” service called Portfolio IQ that bears a strong resemblance to so-called “robo” advisers.
A fact sheet bearing the slogan “Wealth management isn’t just for the wealthy anymore” described Portfolio IQ as “an online wealth management service” delivering professionally and actively managed portfolios at an ultra-low cost. It promised customized portfolios for those with as little as $2,000.
The second shoe dropped on Monday this week, when Toronto-based QWM announced the launch of six new exchange-traded funds on the TSX. Four of the new Questrade Smart ETFs are equal-weighted sector ETFs covering US technology, health care, consumer discretionary and industrials and two are more broadly based US midcap funds…
