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TFSAs, RRSPs and FHSAs: 10 things you might not know + MORE May 6th
Amidst volatile financial markets and economic uncertainty caused by the trade war, many Canadians are exploring different strategies to protect their savings. If you’re among them, knowledge about different registered accounts you’re saving in can influence how effectively you use them to secur.... More »
News and entertainment website Canoe.ca says data for one million users hacked + MORE Sep 12th
MONTREAL _ News and entertainment website Canoe.ca says some of its databases containing the personal information of about one million users from 1996 to 2008 has been hacked.
The company says the databases breached contained records including names, email addresses, mailing addresses and telephone .... More »
Frank Stronach sues daughter Belinda for allegedly mismanaging family fortune Oct 11th
An Ontario business magnate is suing his daughter, two grandchildren and others for allegedly mismanaging the family's assets and trust funds..... More »
DHX Media announces management changes, CEO stepping down and CFO replaced + MORE Feb 27th
HALIFAX _ DHX Media Ltd. has announced a pair of top management changes as it continues a strategic review, including a possible sale of the company.
The children’s media company says Dana Landry is stepping down as chief executive and as a member of the company’s board of directors to p.... More »
How much to take out of your RRSP in your 60s Oct 4th
Many retirees have the bulk of their retirement savings in registered retirement savings plans (RRSPs) or similar tax-deferred registered accounts. RRSPs need to be used to buy an annuity or more commonly converted to a registered retirement income fund (RRIF) by Dec. 31 of the year someone turns 71.... More »
Gerry Schwartz’s $116-million pay cut
– theglobeandmail.com
Part of the explanation for the lower pay last year could lie in Onex’s financial performance and reduced payouts from co-investments
Economy will take years to adjust to commodity-price decline: Bank of Canada
– canadianbusiness.com
OTTAWA – It will likely take more than two years for the country’s economy to fully adjust to the commodity price shock, a senior Bank of Canada official said Wednesday.
Deputy governor Lynn Patterson said if oil prices remain flat, a new economic balance will take shape over several years — one that sees the share of the resources sector shrink to pre-boom levels.
In prepared remarks for a speech Wednesday in Edmonton, Patterson said that by 2020 the commodity sector may only account for 40 per cent of exports, down from 50 per cent in 2014.
The bank’s modelling also suggests the resource industry’s share of business investment could fall to 40 per cent from 56 per cent in 2014.
“Lower commodity prices will lower incomes and are likely to lower the economy’s potential output,” Patterson said in the speech, to be delivered to the Edmonton Chamber of Commerce.
“The extent to which potential GDP (gross domestic product) is permanently lower will depend on how much capacity is rebuilt in the non-commodity sector…
Deputy governor Lynn Patterson said if oil prices remain flat, a new economic balance will take shape over several years — one that sees the share of the resources sector shrink to pre-boom levels.
In prepared remarks for a speech Wednesday in Edmonton, Patterson said that by 2020 the commodity sector may only account for 40 per cent of exports, down from 50 per cent in 2014.
The bank’s modelling also suggests the resource industry’s share of business investment could fall to 40 per cent from 56 per cent in 2014.
“Lower commodity prices will lower incomes and are likely to lower the economy’s potential output,” Patterson said in the speech, to be delivered to the Edmonton Chamber of Commerce.
“The extent to which potential GDP (gross domestic product) is permanently lower will depend on how much capacity is rebuilt in the non-commodity sector…
U.S. rapprochement with Cuba creating investment window for Canada: ambassador
– canadianbusiness.com
MONTREAL – Cuba’s ambassador says rapprochement with the U.S. is creating a window of opportunity for Canadian businesses to invest in the island country.
Ambassador Julio Garmendia Pena says that despite decades of friendly relations between Canada and Cuba, the lengthy U.S. “blockade” has made many Canadian companies reluctant to invest so as not to risk their American ties.
But he said the recent state visit by U.S. President Barack Obama has fostered unprecedented interest from potential foreign investors.
Cuba has changed some laws to encourage investment, but he said in speech Wednesday that any great change will depend on the U.S. Congress removing the embargo.
Pena says Canada has underinvested in Cuba’s tourism sector even though more than 1.3 million Canadians vacation on Caribbean’s largest island each year.
Currently, Canada is Cuba’s fourth-largest trading partner. Among its biggest investors is Sherritt International (TSX:S), which has extensive oil and power operations there…
Ambassador Julio Garmendia Pena says that despite decades of friendly relations between Canada and Cuba, the lengthy U.S. “blockade” has made many Canadian companies reluctant to invest so as not to risk their American ties.
But he said the recent state visit by U.S. President Barack Obama has fostered unprecedented interest from potential foreign investors.
Cuba has changed some laws to encourage investment, but he said in speech Wednesday that any great change will depend on the U.S. Congress removing the embargo.
Pena says Canada has underinvested in Cuba’s tourism sector even though more than 1.3 million Canadians vacation on Caribbean’s largest island each year.
Currently, Canada is Cuba’s fourth-largest trading partner. Among its biggest investors is Sherritt International (TSX:S), which has extensive oil and power operations there…
Ontario Teachers’ Pension Plan posts 13% return in 2015
– theglobeandmail.com
Plan says assets grew to $171.4-billion in the last calendar year
Stocks keep rising, led by banks and technology companies
– canadianbusiness.com
NEW YORK, N.Y. – U.S. stocks are rising Wednesday afternoon as banks and technology companies move higher. The market is making broad gains and building on a rally that started the day before. Stocks have reached a high mark for the year.
KEEPING SCORE: The Dow Jones industrial average rose 95 points, or 0.5 per cent, to 17,727 as of 3:02 p.m. Eastern time. The Standard & Poor’s 500 index gained 12 points, or 0.6 per cent, to 2,066. The Nasdaq composite index added 31 points, or 0.6 per cent, to 4,877.
FINANCIALS FLY: Banks and insurance companies made the biggest gains. MetLife gained $1.97, or 4.6 per cent, to $44.43 after the company successfully challenged its “too big to fail” designation. The Financial Stability Oversight Council had said MetLife needed greater government oversight because of its size and importance to the financial system, but the company took the council to court over that ruling. On Wednesday a judge ruled in its favour.
Fellow insurer AIG advanced 97 cents, or 1…
KEEPING SCORE: The Dow Jones industrial average rose 95 points, or 0.5 per cent, to 17,727 as of 3:02 p.m. Eastern time. The Standard & Poor’s 500 index gained 12 points, or 0.6 per cent, to 2,066. The Nasdaq composite index added 31 points, or 0.6 per cent, to 4,877.
FINANCIALS FLY: Banks and insurance companies made the biggest gains. MetLife gained $1.97, or 4.6 per cent, to $44.43 after the company successfully challenged its “too big to fail” designation. The Financial Stability Oversight Council had said MetLife needed greater government oversight because of its size and importance to the financial system, but the company took the council to court over that ruling. On Wednesday a judge ruled in its favour.
Fellow insurer AIG advanced 97 cents, or 1…
