Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Moody’s warns Canadian consumers over record household-debt levels Aug 24th
Agency says card-loan performance in Alberta, Saskatchewan will be ‘illustrative first test’ of continuing strength of banks’ Canadian credit-card portfolios
.... More »
Should you consider using joint accounts to avoid probate? Apr 17th
Q. My mother is a widow and I am an only child (single, never married, with one child of my own). Now that she is 83, she thinks she should put my name on all her bank accounts and investments so if she becomes unable, I would have control as joint account holder to pay any bills that come up. My na.... More »
Selling a prime minister: The marketing of Justin Trudeau Aug 11th
Prime Minister Trudeau meets students with the Forum For Young Canadians in Ottawa. March 23, 2016. (Adam Scotti/PMO)
When marketers are sorting out how to position a consumer product so you’ll want to buy it, one of the first questions they consider is whether they’re dealing with a dominant br.... More »
The close: TSX ends up with banks; Bombardier falls after tariff hit + MORE Sep 27th
Wall Street gains on financials boost, tax hopes
.... More »
Advice for cash-strapped renters and landlords during COVID-19 May 16th
When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
Valeant’s looming M&A hiatus deals blow to investment banks
– theglobeandmail.com
Drug company has emerged as fifth biggest payer of investment banker fees over past three years
Scotiabank is cutting jobs, joining other big Canadian banks that are reporting strong profit growth but still looking for ways to cut costs amid a slow-growth economy and changing technologies.
Scotiabank tells employees that some regional processing offices to close
– canadianbusiness.com
TORONTO – Scotiabank is telling employees to get ready for certain offices to close over the next two years as it concentrates its workforce in two new hubs with more advanced technology.
The CBC is reporting that as many as 1,500 jobs could be affected, and says that one unidentified bank employee said she estimates about 200 people in her region alone would be affected.
Globalnews is reporting that nearly 400 people in Calgary were told about the downsizing plan on Thursday night.
But the bank says it hasn’t yet determined how many people will be out of work because there may be other opportunities within Scotiabank (TSX:BNS) for the affected employees.
The affected operations were initially built to serve a branch network that operated mostly with paper — but since then consumers and banks have shifted increasingly to electronic and digital communications.
The bank said last week that it has created a “digital factory” in Toronto to house more than 350 tech jobs when it is fully functional next year…
The CBC is reporting that as many as 1,500 jobs could be affected, and says that one unidentified bank employee said she estimates about 200 people in her region alone would be affected.
Globalnews is reporting that nearly 400 people in Calgary were told about the downsizing plan on Thursday night.
But the bank says it hasn’t yet determined how many people will be out of work because there may be other opportunities within Scotiabank (TSX:BNS) for the affected employees.
The affected operations were initially built to serve a branch network that operated mostly with paper — but since then consumers and banks have shifted increasingly to electronic and digital communications.
The bank said last week that it has created a “digital factory” in Toronto to house more than 350 tech jobs when it is fully functional next year…
Is There a Winner In Your Wallet?
– ratesupermarket.ca
On the hunt for a new credit card, bank account or investment? Look no further – we’ve crunched the numbers to find the very best personal finance products in the country. Check out our picks, and see how much more you could be earning and saving – whether you’re looking to score points for your next vacation, or invest your nestegg.
Read on for the full story!
The Best Credit Cards in Canada: 2015 Edition
What offers the best value: a mile, a point, or cash back? Are annual fees worth it? How can a promotional interest rate help pay off a lingering balance? These are some of the most common questions posed by Canadian credit card shoppers – but when it comes to choosing a card, it’s not always clear which are top performers.
We’ve crunched the numbers to find the very best credit cards in Canada – check out our 2015 picks!
Read Penelope’s Blog | The Best Credit Cards in Canada
The Best Banking Products in Canada: 2015 Edition
Forget stashing your cash under the mattress – the most effective way to manage your money is to put it to work with one of the most competitive interest rates on the market…
China cuts interest rates for sixth time in a year to spur slowing economy
– canadianbusiness.com
BEIJING, China – China cut interest rates on Friday for a sixth time in a year to spur slowing economic growth.
The announcement came after growth slowed to a six-year low of 6.9 per cent in the latest quarter, according to official figures, dragged down by weak global demand and an effort to reduce reliance on construction and heavy industry.
The benchmark rate on a one-year loan will fall by 0.25 percentage point to 4.35 per cent effective Saturday, the central bank announced. The benchmark rate for a one-year bank deposit will be reduced by the same margin to 1.5 per cent.
“There still exists some downward pressure on China’s economic growth,” the People’s Bank of China said in a statement. “We need to continue to use monetary policy tools to strengthen economic structural adjustment and create a good monetary and financial environment.”
Also Friday, the central bank increased the amount of money available for lending by reducing the level of reserves banks are required to hold…
The announcement came after growth slowed to a six-year low of 6.9 per cent in the latest quarter, according to official figures, dragged down by weak global demand and an effort to reduce reliance on construction and heavy industry.
The benchmark rate on a one-year loan will fall by 0.25 percentage point to 4.35 per cent effective Saturday, the central bank announced. The benchmark rate for a one-year bank deposit will be reduced by the same margin to 1.5 per cent.
“There still exists some downward pressure on China’s economic growth,” the People’s Bank of China said in a statement. “We need to continue to use monetary policy tools to strengthen economic structural adjustment and create a good monetary and financial environment.”
Also Friday, the central bank increased the amount of money available for lending by reducing the level of reserves banks are required to hold…
