The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
How to Read Your Credit Report May 30th
Your credit report summarizes your credit history and helps lenders weigh your credit risk. Often your credit report is initiated when you apply for your first credit card. Over time it can help you reach your larger financial goals such as obtaining a rental agreement or mortgage. When you apply f.... More »
12 top personal finance books to read this summer Jun 11th
For obvious reasons, a lot of personal finance and retirement books come my way and, from time to time, we’ve dedicated a particular edition of this column to a single book. This one looks at a dozen noteworthy books I’ve read lately, or plan to—most of them published in the last few years.
If.... More »
This Year’s Best Rewards Credit Cards for Groceries Nov 7th
According to Statistics Canada, the average Canadian household spends $9,102.40 on food every year. And whether you’re single or have a family of growing tots to feed, you understand that spending more than you anticipated at the grocery store is all but too easy (Pro tip: Don’t go to the groce.... More »
Herbalife, Wells Fargo gain; Caesars Entertainment sinks Aug 29th
NEW YORK, N.Y. – Stocks that moved substantially or traded heavily on Monday:
Herbalife Ltd., up $2.80 to $63.30
Billionaire investor Carl Icahn, the company’s largest shareholder, says he bought more shares in the supplements and weight-loss products company.
Wells Fargo & Co., up $.... More »
Can you build a 40/30/30 portfolio with ETFs? Aug 22nd
The unique market conditions of the 2022 bear market exposed a major flaw in the traditional 60% stocks/40% bonds balanced portfolio used by millions of investors. That year was defined by two forces: surging inflation across both the U.S. and Canada, and aggressive interest rate hikes by their resp.... More »
Business Highlights
– canadianbusiness.com
___
Companies lose billions buying back their own stock
NEW YORK (AP) — If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what’s going on inside businesses than anyone else: companies that buy their own shares.
The companies losing money on these bets are down a collective $126 billion over the past three years, a decline of 15 per cent.
And it’s not just a few big corporate losers accounting for all the pain. The group includes 229 companies in the Standard and Poor’s 500 index, nearly half of the companies in the study prepared by FactSet for The Associated Press.
___
Obama unveils record $4.1 trillion election-year budget
WASHINGTON (AP) — President Barack Obama on Tuesday unveiled a record $4.1 trillion, election-year budget that finances Democratic priorities like education, health care and climate change with new taxes on crude oil, the wealthy and big banks.
Obama called the budget — his eighth and final one — “a roadmap to a future that embodies America’s values and aspirations: a future of opportunity and security for all of our families; a rising standard of living; and a sustainable, peaceful planet for our kids…
Companies lose billions buying back their own stock
NEW YORK (AP) — If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what’s going on inside businesses than anyone else: companies that buy their own shares.
The companies losing money on these bets are down a collective $126 billion over the past three years, a decline of 15 per cent.
And it’s not just a few big corporate losers accounting for all the pain. The group includes 229 companies in the Standard and Poor’s 500 index, nearly half of the companies in the study prepared by FactSet for The Associated Press.
___
Obama unveils record $4.1 trillion election-year budget
WASHINGTON (AP) — President Barack Obama on Tuesday unveiled a record $4.1 trillion, election-year budget that finances Democratic priorities like education, health care and climate change with new taxes on crude oil, the wealthy and big banks.
Obama called the budget — his eighth and final one — “a roadmap to a future that embodies America’s values and aspirations: a future of opportunity and security for all of our families; a rising standard of living; and a sustainable, peaceful planet for our kids…
Digital banking service offers 3% interest savings
– moneysense.ca
(malerapaso/Getty Images)Great news for consumers looking for a viable high-interest savings account alternative to those at the Big Five. Equitable Bank has launched EQ Bank, Canada’s first completely digital banking service, with an everyday interest savings rate of 3% and no fees or minimum balance requirements. In addition to the higher interest rate, which handily tops anything offered by the big banks, EQ Bank accounts also allow daily transactions, including bill payments and e-transfers.
The post Digital banking service offers 3% interest savings appeared first on MoneySense.
Toronto Stock Exchange loses two per cent as oil falls below US$28 a barrel – Montreal Gazette
– news.google.ca
Toronto StarToronto Stock Exchange loses two per cent as oil falls below US$28 a barrelMontreal GazetteTORONTO – The price of oil fell Tuesday to levels not seen in nearly 13 years, dragging down the Toronto Stock Exchange by two per cent as investors grow increasingly concerned there is too much crude on the markets. The S&P/TSX composite index …TSX falls 2 percent as banks, energy stocks sinkReuters Canadaall 223 news articles »
Credit default swaps reveal heightened investor concern over banks
– theglobeandmail.com
Bets against global financial institutions, energy producers and mining companies are soaring
Toronto Stock Exchange loses two per cent as oil falls below US$28 a barrel – Montreal Gazette
– news.google.ca
Toronto StarToronto Stock Exchange loses two per cent as oil falls below US$28 a barrelMontreal GazetteTORONTO – The price of oil fell Tuesday to levels not seen in nearly 13 years, dragging down the Toronto Stock Exchange by two per cent as investors grow increasingly concerned there is too much crude on the markets. The S&P/TSX composite index …TSX falls 2 percent as banks, energy stocks sinkReuters Canadaall 223 news articles »
