All about Canadian investments. Learn the ins and outs and get the latest news.
Latest News
Six simple ways to get the maximum price from your real estate sale Feb 15th
Get it fixed, get it clean, and get out, Lesley-Anne Scorgie advises..... More »
'Get real' about workers' anxiety, Trudeau tells business elite - CityNews Feb 19th
CityNews'Get real' about workers' anxiety, Trudeau tells business eliteCityNewsCanadian Prime Minister Justin Trudeau speaks at the St. Matthew's Day banquet in Hamburg, Germany, on Feb. 17, 2017. THE CANADIAN PRESS/Adrian Wyld. Prime Minister Justin Trudeau used one of Germany&#.... More »
Volunteering in times of financial hardship can seem impossible. Here's how to balance giving back with your own finances Apr 20th
With a global trade war escalating at a time when many were already facing a cost of living crisis, people who want to give their time are having to make "tough" decisions..... More »
Enbridge, TransCanada shares recover from steep dive following U.S. tax ruling + MORE Mar 17th
CALGARY _ Shares in Canadian pipeline companies Enbridge Inc. and TransCanada Corp. are recovering from a steep sell-off Thursday after the U.S. eliminated a tax break for owners of certain interstate pipelines.
Both Calgary-based companies hold such pipelines in the United States through master lim.... More »
MoneySense’s free Excel template for your monthly budget Dec 21st
Download:
MoneySense monthly budget Excel template
Instructions:
Click the link above to download the spreadsheet tool.Open the file. Enter your personal and household expenses in the columns titled “Planned” and “Actual.” You can use the “Insert” function to add new rows .... More »
High-profile Chinese investor Xu Xiang detained in wake of stock bubble’s bursting
– canadianbusiness.com
BEIJING, China – High-profile Chinese investor Xu Xiang has been detained on suspicion of insider trading, the Public Security Ministry reported.
A brief statement issued Monday through the official Xinhua News Agency said Xu was suspected of illegally obtaining inside information about the stock market and manipulating prices.
His detention follows a massive decline in stock prices over the summer blamed largely on a government-promoted bubble that has led to a search for scapegoats.
Untethered from economic reality, Chinese stocks soared over the last year, with the Shanghai Composite Index rising 150 per cent in the year through mid-June.
On June 12, the bubble burst: Shanghai stocks have since tumbled, though they remain about 40 per cent above where they were a year ago.
Backtracking on a pledge to give market forces a greater say, the government tried to stop the freefall. It suspended trading in many companies, restricted the use of borrowed money for some trades and banned big investors from selling their stakes for six months…
A brief statement issued Monday through the official Xinhua News Agency said Xu was suspected of illegally obtaining inside information about the stock market and manipulating prices.
His detention follows a massive decline in stock prices over the summer blamed largely on a government-promoted bubble that has led to a search for scapegoats.
Untethered from economic reality, Chinese stocks soared over the last year, with the Shanghai Composite Index rising 150 per cent in the year through mid-June.
On June 12, the bubble burst: Shanghai stocks have since tumbled, though they remain about 40 per cent above where they were a year ago.
Backtracking on a pledge to give market forces a greater say, the government tried to stop the freefall. It suspended trading in many companies, restricted the use of borrowed money for some trades and banned big investors from selling their stakes for six months…
China manufacturing shows signs of stabilizing in October after period of contraction
– canadianbusiness.com
HONG KONG – The contraction in China’s manufacturing eased in October, while the expansion of service industries cooled, surveys show.
The Caixin manufacturing index, which is based on a survey of factory purchasing managers, rose to 48.3 last month from 47.2 in September. The purchasing managers’ index uses a 100-point scale on which numbers above 50 indicate expansion.
Factories reported a renewed increase in new export orders, which in turn helped soften the contractions in employment and output, resulting in the index’s slowest rate of decline in four months, Caixin said Monday.
“The slight upswing shows the manufacturing industry’s overall weakening has slowed down, indicating that the previous stimulating measures have begun to take effect,” said He Fan, chief economist at Caixin Insight Group.
China’s economy has slowed as Beijing tries to move the country away from an overreliance on exports and often-wasteful investment in housing, factories and infrastructure projects…
The Caixin manufacturing index, which is based on a survey of factory purchasing managers, rose to 48.3 last month from 47.2 in September. The purchasing managers’ index uses a 100-point scale on which numbers above 50 indicate expansion.
Factories reported a renewed increase in new export orders, which in turn helped soften the contractions in employment and output, resulting in the index’s slowest rate of decline in four months, Caixin said Monday.
“The slight upswing shows the manufacturing industry’s overall weakening has slowed down, indicating that the previous stimulating measures have begun to take effect,” said He Fan, chief economist at Caixin Insight Group.
China’s economy has slowed as Beijing tries to move the country away from an overreliance on exports and often-wasteful investment in housing, factories and infrastructure projects…
HSBC says 3Q profit surges by third as costs fall, no decision on headquarters move
– canadianbusiness.com
HONG KONG – HSBC Holdings reports that pre-tax profit has jumped by a third in the latest quarter as it paid out less in fines, settlements and British customer compensation.
The bank, Europe’s largest by market value, on Monday posted $6.1 billion in profit for the July-September period, up 32 per cent from a year earlier.
Revenue slipped 4 per cent to $15.1 billion.
In June, the bank announced a major reorganization, including slashing tens of thousands of jobs and selling businesses to concentrate on fast-growing Asian economies.
It’s also considering moving headquarters out of London as part of the plan. The bank said in its report a decision would be made by year-end at the earliest.
HSBC is listed on the Hong Kong and London stock exchanges.
The post HSBC says 3Q profit surges by third as costs fall, no decision on headquarters move appeared first on Canadian Business – Your Source For Business News.
The bank, Europe’s largest by market value, on Monday posted $6.1 billion in profit for the July-September period, up 32 per cent from a year earlier.
Revenue slipped 4 per cent to $15.1 billion.
In June, the bank announced a major reorganization, including slashing tens of thousands of jobs and selling businesses to concentrate on fast-growing Asian economies.
It’s also considering moving headquarters out of London as part of the plan. The bank said in its report a decision would be made by year-end at the earliest.
HSBC is listed on the Hong Kong and London stock exchanges.
The post HSBC says 3Q profit surges by third as costs fall, no decision on headquarters move appeared first on Canadian Business – Your Source For Business News.
Asian stock markets retreat after lacklustre data on China, US economies
– canadianbusiness.com
TOKYO – Asian stock markets were mostly lower Monday after lacklustre economic data from the U.S. and China.
KEEPING SCORE: Japan’s Nikkei 225 fell 1.8 per cent to 18,743.83 and Hong Kong’s Hang Seng dropped 1.0 per cent to 22,420.89. The Shanghai Composite Index was 0.3 per cent lower at 3,371.61. Australia’s S&P/ASX 200 slipped 1.3 per cent to 5,169.50. South Korea’s Kospi edged 0.1 per cent higher to 2,030.72. Taiwan also was higher while markets in Southeast Asia were mixed.
ECONOMIC DATA: A monthly survey of factory managers in China showed conditions were still weak in October, though the outlook was the best in four months. The Caixin index rose to 48.3 from 47.2 in September. Figures under 50 reflect a contraction. But an interest rate cut announced last month by Beijing will likely ease any impact of the lacklustre data. In the U.S., consumer spending rose a feeble 0.1 per cent in September.
ANALYST VIEWPOINT: China “manufacturing activity remained in contraction, albeit stabilizing somewhat,” ANZ Research said in a commentary…
KEEPING SCORE: Japan’s Nikkei 225 fell 1.8 per cent to 18,743.83 and Hong Kong’s Hang Seng dropped 1.0 per cent to 22,420.89. The Shanghai Composite Index was 0.3 per cent lower at 3,371.61. Australia’s S&P/ASX 200 slipped 1.3 per cent to 5,169.50. South Korea’s Kospi edged 0.1 per cent higher to 2,030.72. Taiwan also was higher while markets in Southeast Asia were mixed.
ECONOMIC DATA: A monthly survey of factory managers in China showed conditions were still weak in October, though the outlook was the best in four months. The Caixin index rose to 48.3 from 47.2 in September. Figures under 50 reflect a contraction. But an interest rate cut announced last month by Beijing will likely ease any impact of the lacklustre data. In the U.S., consumer spending rose a feeble 0.1 per cent in September.
ANALYST VIEWPOINT: China “manufacturing activity remained in contraction, albeit stabilizing somewhat,” ANZ Research said in a commentary…
Commerzbank’s chairman of board of managing directors won’t extend contract after October 2016
– canadianbusiness.com
BERLIN – The chairman of the board of managing directors of Commerzbank, Martin Blessing, has said he will not extend his contract when it ends in October 2016.
In a statement by the Frankfurt-based bank Sunday, Blessing said he had decided that after 15 years with the bank “it is now time for me to embark on a new chapter in my professional life.”
In past years, Commerzbank was required to leave some lines of businesses under European Union rules to offset the anti-competitive effect of state aid it had received from the German government when it was bailed out in 2009.
Blessing said the bank had “overcome the major challenges of the financial crisis or will do so in the coming months.”
The post Commerzbank’s chairman of board of managing directors won’t extend contract after October 2016 appeared first on Canadian Business – Your Source For Business News.
In a statement by the Frankfurt-based bank Sunday, Blessing said he had decided that after 15 years with the bank “it is now time for me to embark on a new chapter in my professional life.”
In past years, Commerzbank was required to leave some lines of businesses under European Union rules to offset the anti-competitive effect of state aid it had received from the German government when it was bailed out in 2009.
Blessing said the bank had “overcome the major challenges of the financial crisis or will do so in the coming months.”
The post Commerzbank’s chairman of board of managing directors won’t extend contract after October 2016 appeared first on Canadian Business – Your Source For Business News.
