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Latest News
Via Rail places $989M train order with Germany's Siemens instead of Bombardier Dec 12th
Via Rail has selected Germany's Siemens over Bombardier Inc. for a $989 million contract to build new rolling stock as the Canadian passenger rail service renews its fleet of locomotives and cars for the rail corridor between Quebec City and Windsor, Ont..... More »
Landmark trial opens for Spain’s Princess Cristina + MORE Jan 11th
PALMA DE MALLORCA, Spain — A landmark fraud trial opened Monday for Spain’s Princess Cristina, accused of helping bankroll a lavish lifestyle with funds her husband received from an alleged scheme to embezzle about 6 million euros ($6.5 million) in public contracts for conferences and sport.... More »
Ontario offers $100 million for upgrades to natural gas furnaces, water heaters + MORE Feb 4th
TORONTO – Ontario is promising a $100 million rebate program to help homeowners upgrade their furnaces, water heaters and insulation, but there are no details on a start date, eligibility rules or amounts.
The goal is to reduce greenhouse gas emissions, and at the same time help create jobs an.... More »
George Weston hikes dividend as improvements at Loblaw boost profit + MORE May 9th
Company posts a 189-per-cent increase to its first-quarter profit
.... More »
Superette’s Mimi Lam on Staying Ahead of the Cannabis Market Saturation Feb 17th
In high school, I watched a lot of Judge Judy and it made me want to become a hotshot criminal lawyer. Instead, I ended up going to Carleton University for international business because the program offered a two-semester exchange. I just wanted to travel and experience new things.
I started to .... More »
Manitoba rural hoteliers ask province to reduce take on beer, VLT revenue
– canadianbusiness.com
WINNIPEG – Rural hotel owners used empty beer cases to erect a giant beer-can throne at the Manitoba legislature as part of a bubbling protest over the amount of money they must turn over to the government from alcohol and VLT sales.
The hoteliers laid out a path of cut-out tombstones to the throne during Monday’s rally with the word “Hotel” written on them to mark the closure of several rural outlets in the past year.
All hotel vendors in Manitoba can keep 17 per cent from beer revenue alone.
But the Manitoba Rural Hotel Association says owners are left with little money to reinvest in their businesses after paying the government, and they want the province to rethink its take.
Association president Angelo Mondragon says sales at rural outlets are fine, however the government is taking too much.
He notes that Winnipeg outlets get more customers and it’s important that owners outside the city get a financial break.
Mondragon said liquor and gaming contributes $580 million to the province…
The hoteliers laid out a path of cut-out tombstones to the throne during Monday’s rally with the word “Hotel” written on them to mark the closure of several rural outlets in the past year.
All hotel vendors in Manitoba can keep 17 per cent from beer revenue alone.
But the Manitoba Rural Hotel Association says owners are left with little money to reinvest in their businesses after paying the government, and they want the province to rethink its take.
Association president Angelo Mondragon says sales at rural outlets are fine, however the government is taking too much.
He notes that Winnipeg outlets get more customers and it’s important that owners outside the city get a financial break.
Mondragon said liquor and gaming contributes $580 million to the province…
Calculate fair market value of mutual funds after a death
– moneysense.ca
Q: How do I calculate the fair market value of my parent’s mutual funds when it comes to probate fees, executor fees and capital gains tax? The funds were jointly held by both of my parents up to and at their death.
—Kamal Singh, Toronto, ON
A: Calculating fair market value (FMV) on assets can sometimes be really tough. Thankfully, in this case, the answer is easily found, says Lenore Davis, Senior Partner at Dixon, Davis & Company in Victoria. “Simply visit the website of the company that runs the fund and search for market value on the date of death. If both parents died on the same day, each person’s share is 50% of FMV. If they died at different dates, then you need to search both dates.” Good news since the role of executor—the person tasked with filing the deceased’s last tax return and for sorting out the estate—can be complicated enough.
Ask MoneySense: Leave your question for Bruce Sellery »
The post Calculate fair market value of mutual funds after a death appeared first on MoneySense.
—Kamal Singh, Toronto, ON
A: Calculating fair market value (FMV) on assets can sometimes be really tough. Thankfully, in this case, the answer is easily found, says Lenore Davis, Senior Partner at Dixon, Davis & Company in Victoria. “Simply visit the website of the company that runs the fund and search for market value on the date of death. If both parents died on the same day, each person’s share is 50% of FMV. If they died at different dates, then you need to search both dates.” Good news since the role of executor—the person tasked with filing the deceased’s last tax return and for sorting out the estate—can be complicated enough.
Ask MoneySense: Leave your question for Bruce Sellery »
The post Calculate fair market value of mutual funds after a death appeared first on MoneySense.
Valeant Pharmaceuticals laid out a comprehensive refutation of the fraud allegations that have been raised against it by a short-seller, but the denials failed to halt the slide in the company’s shares on Monday.
60% of Canadians saving for retirement, just not wisely
– moneysense.ca
Saving for retirement may be a top financial priority for Canadians but judging by how much has been socked away and how it’s invested, we’re not doing a great job at it, findings from the just-released BlackRock 2015 Global Investor Pulse Survey suggest.
BlackRock polled 2,000 Canadians as part of a larger international study and found that while 60% of Canadians are actively saving for retirement, including 52% of 25-to-34-year-olds, there’s a clear discrepancy between retirement income expectations and savings habits.
Respondents said on average they expect an annual income $46,900 for 25 year in retirement. But those who’ve started saving have amassed on average just $70,700 in total, barely enough to cover 18 months of expenses. That number is little higher among pre-retirees aged 55 to 64 at $125,000, still likely not enough even if expertly invested.
“Retirement is one of the most important global issues that we face today, this survey reinforces that point,” Chip Castille, BlackRock’s Chief Retirement Strategist, said in a press release…
BlackRock polled 2,000 Canadians as part of a larger international study and found that while 60% of Canadians are actively saving for retirement, including 52% of 25-to-34-year-olds, there’s a clear discrepancy between retirement income expectations and savings habits.
Respondents said on average they expect an annual income $46,900 for 25 year in retirement. But those who’ve started saving have amassed on average just $70,700 in total, barely enough to cover 18 months of expenses. That number is little higher among pre-retirees aged 55 to 64 at $125,000, still likely not enough even if expertly invested.
“Retirement is one of the most important global issues that we face today, this survey reinforces that point,” Chip Castille, BlackRock’s Chief Retirement Strategist, said in a press release…
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,790.90, down 162.76 points):
Royal Bank of Canada (TSX:RY). Bank. Up eight cents, or 0.11 per cent, to $74.93 on 11.6 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down six cents, or 3.95 per cent, to $1.46 on 7.3 million shares.
Niko Resources Ltd. (TSX:NKO). Oil and gas. Up three cents, or 20.69 per cent, to 17.5 cents on 5.2 million shares.
First Quantum Minerals Ltd. (TSX:FM). Miner. Down 13 cents, or 1.69 per cent, to $7.54 on 4.2 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Down 33 cents, or 3.23 per cent, to $9.88 on 3.7 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 16 cents, or 4.80 per cent, to $3.17 on 3.7 million shares.
Companies reporting major news:
Valeant Pharmaceuticals International Inc. (TSX:VRX). Pharmaceutical. Down $7.35, or 4.81 per cent, to $145.34 on 1.2 million shares. The embattled drugmaker and health-care products company is asking U…
Toronto Stock Exchange (13,790.90, down 162.76 points):
Royal Bank of Canada (TSX:RY). Bank. Up eight cents, or 0.11 per cent, to $74.93 on 11.6 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down six cents, or 3.95 per cent, to $1.46 on 7.3 million shares.
Niko Resources Ltd. (TSX:NKO). Oil and gas. Up three cents, or 20.69 per cent, to 17.5 cents on 5.2 million shares.
First Quantum Minerals Ltd. (TSX:FM). Miner. Down 13 cents, or 1.69 per cent, to $7.54 on 4.2 million shares.
Barrick Gold Corp. (TSX:ABX). Miner. Down 33 cents, or 3.23 per cent, to $9.88 on 3.7 million shares.
Yamana Gold Inc. (TSX:YRI). Miner. Down 16 cents, or 4.80 per cent, to $3.17 on 3.7 million shares.
Companies reporting major news:
Valeant Pharmaceuticals International Inc. (TSX:VRX). Pharmaceutical. Down $7.35, or 4.81 per cent, to $145.34 on 1.2 million shares. The embattled drugmaker and health-care products company is asking U…
