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Latest News
CPP vs RRSP: Can you transfer your CPP to an RRSP? Dec 21st
I’m 40 years old. Can I transfer my accumulated CPP to an RRSP?
—Franco
I am going to cut to the chase here, Franco. You cannot transfer your Canada Pension Plan (CPP) to a registered retirement savings plan (RRSP). Some pensions can be transferred to an RRSP, and there are ways .... More »
The only fail-proof way to reach your financial goals is to save more + MORE Jul 25th
When low interest rates play havoc with your investment planning, it’s the only fail-proof way to reach financial goals
.... More »
Financial firm outsourcing increasing risk of cyber attacks: IIAC + MORE Jan 12th
TORONTO _ The head of the Investment Industry Association of Canada says the risk of cyberattacks is being amplified by the significant outsourcing done by investment dealers and asset managers.
Ian Russell told attendees at an Empire Club of Canada luncheon on Thursday in Toronto that firms’ .... More »
Tesla to significantly raise prices of all cars in Canada, website shows - Reuters Jan 23rd
Tesla to significantly raise prices of all cars in Canada, website shows ReutersTesla Just Raised Prices in One Key Market. What It Means for the Stock. Barron'sTesla Raises Prices Again, Steeper Hikes to Follow on Feb. 1 The Car GuideTesla EVs Are About To Get A Lot.... More »
Sears Canada's court monitor opposes priority for pensioners over other creditors + MORE Sep 11th
A court-appointed monitor for the Sears Canada bankruptcy process says it opposes a proposal that would effectively allocate all the failed retailer's remaining assets to the company's underfunded pensions..... More »
Business Highlights
– canadianbusiness.com
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Women are out-earning men in corporate finance
Women may be badly outnumbered in the top ranks of corporate America, but at least they aren’t underpaid.
Compensation for female chief financial officers at S&P 500 companies last year outpaced that of their male counterparts, according to an analysis by executive compensation firm Equilar and The Associated Press. It follows a similar trend seen with female CEOs in recent years.
The median pay for female CFOs last year rose nearly 11 per cent to $3.32 million. Male CFO pay rose 7 per cent, to $3.3 million. This follows several years of steady gains for both sexes.
The gains, for both men and women, are in part a result of the expansion of the CFO role to include far more responsibility and visibility.
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Shkreli resigns as Turing CEO after securities fraud arrest
TRENTON, N.J. (AP) — The pharmaceutical executive reviled for price-gouging resigned Friday as head of the drugmaker Turing Pharmaceuticals, a day after being arrested on charges of securities fraud related to a company he previously ran…
Women are out-earning men in corporate finance
Women may be badly outnumbered in the top ranks of corporate America, but at least they aren’t underpaid.
Compensation for female chief financial officers at S&P 500 companies last year outpaced that of their male counterparts, according to an analysis by executive compensation firm Equilar and The Associated Press. It follows a similar trend seen with female CEOs in recent years.
The median pay for female CFOs last year rose nearly 11 per cent to $3.32 million. Male CFO pay rose 7 per cent, to $3.3 million. This follows several years of steady gains for both sexes.
The gains, for both men and women, are in part a result of the expansion of the CFO role to include far more responsibility and visibility.
___
Shkreli resigns as Turing CEO after securities fraud arrest
TRENTON, N.J. (AP) — The pharmaceutical executive reviled for price-gouging resigned Friday as head of the drugmaker Turing Pharmaceuticals, a day after being arrested on charges of securities fraud related to a company he previously ran…
OTTAWA — The federal Liberal government showed more solidarity with Canada’s First Nations on Friday as it lifted sanctions against indigenous communities that have not complied with a Conservative spending transparency law.
The decision was quickly condemned by the Opposition Tories and the Canadian Taxpayers Federation, which warned that the move would leave First Nations people in the dark about how their elected leaders spend public money.
Indigenous Affairs Minister Carolyn Bennett said her department will stop imposing punitive measures — such as withholding funds — on those communities not in compliance with the First Nations Financial Transparency Act.
Bennett, who described the changes as part of Ottawa’s new “nation-to-nation” relationship with indigenous peoples, also said she’s suspending court actions against those First Nations not complying with the law.
“Transparency and accountability are paramount to any government, whether it is municipal, provincial, federal or First Nation,” she said in a statement…
The decision was quickly condemned by the Opposition Tories and the Canadian Taxpayers Federation, which warned that the move would leave First Nations people in the dark about how their elected leaders spend public money.
Indigenous Affairs Minister Carolyn Bennett said her department will stop imposing punitive measures — such as withholding funds — on those communities not in compliance with the First Nations Financial Transparency Act.
Bennett, who described the changes as part of Ottawa’s new “nation-to-nation” relationship with indigenous peoples, also said she’s suspending court actions against those First Nations not complying with the law.
“Transparency and accountability are paramount to any government, whether it is municipal, provincial, federal or First Nation,” she said in a statement…
How to live with lower oil prices
– macleans.ca
Getty ImagesThe large and persistent drop in oil prices has been a major hit to Canada’s economy. In this Maclean’s article, many analysts (including me) suggested that this economic development was one of the most important things to watch in 2016. While there are lots of other interesting and important stories unfolding, such as:
gravity-defying house prices in Toronto and Vancouver;
the response of financial markets to the normalization of monetary policy in the U.S.; and
whether companies will regain an appetite to invest in Canada
I keep coming back to lower oil prices and the massive terms of trade shock they’ve delivered. The result has been a significant loss in our international purchasing power—just ask any Canadian on vacation in the U.S.
When oil prices first fell in the summer of 2014, we knew it would be a significant economic challenge for Canada, but we didn’t know big the shock would be and how long it would last. As time has passed, long-term expectations for oil prices are down by more than a third (H/T Luke Kawa)…
BlackBerry's focus on software starting to pay off: CEO – The Globe and Mail (subscription)
– news.google.ca
The Globe and Mail (subscription)BlackBerry's focus on software starting to pay off: CEOThe Globe and Mail (subscription)BlackBerry Ltd.'s transformation into a software-first company picked up speed in the third quarter as growth beat analyst projections, resulting in a smaller loss than had been expected. Just over two years since taking the helm and pledging to turn …BlackBerry Ltd makes headway in its bid to boost sales in enterprise softwareFinancial PostBlackBerry shares jump 10% on better than expected financial resultsCBC.caIs the Priv smartphone a hit? BlackBerry says it's too early to tellThe ProvinceReuters Canada -www.insideottawavalley.com/all 344 news articles »
In Wyly brothers’ securities-fraud case, appeals court upholds SEC’s ability to freeze assets
– canadianbusiness.com
NEW YORK, N.Y. – A federal appeals court on Friday partially upheld a decision to freeze assets of relatives of two Texas businessmen who have been ordered to pay about $300 million in penalties for securities fraud.
The judges upheld the freeze against nine relatives who, they said, received ill-gotten gains from trusts set up by Sam and Charles Wyly.
But the judges said the evidence against seven other relatives was less convincing, and they ordered a lower court to review those cases.
The Securities and Exchange Commission sued the brothers in 2010, claiming that they used trusts set up in the Isle of Man to hide more than $550 million in trading profits. After a civil-court jury trial, a federal judge last year ordered Sam Wyly and the estate of Charles Wyly, who died in 2011, to pay the SEC about $300 million including interest.
Two weeks later, Sam Wyly and Charles’ widow filed for bankruptcy protection, which in some instances can automatically halt collection of judgments…
The judges upheld the freeze against nine relatives who, they said, received ill-gotten gains from trusts set up by Sam and Charles Wyly.
But the judges said the evidence against seven other relatives was less convincing, and they ordered a lower court to review those cases.
The Securities and Exchange Commission sued the brothers in 2010, claiming that they used trusts set up in the Isle of Man to hide more than $550 million in trading profits. After a civil-court jury trial, a federal judge last year ordered Sam Wyly and the estate of Charles Wyly, who died in 2011, to pay the SEC about $300 million including interest.
Two weeks later, Sam Wyly and Charles’ widow filed for bankruptcy protection, which in some instances can automatically halt collection of judgments…
