Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
2 British ex-bankers convicted of all charges in US trial over LIBOR interest rate scandal Nov 5th
NEW YORK, N.Y. – Two British ex-bankers were convicted of all charges when a jury in New York City agreed that they conspired to influence interest rates in a manner that would earn money for their bank.
The verdict was returned Thursday in Manhattan federal court against Anthony Allen and Ant.... More »
Scotiabank Passport™ Visa Infinite* Review + MORE May 17th
Attention MoneyWise readers! Sign up for the Scotiabank Passport™ Visa Infinite* Card today and for a limited time, get up to 25,000 bonus points with your first $1,000 in everyday purchases in the first three months. That’s already $250-worth of rewards!
And for a limited time, get $75 IN.... More »
Engineering a profitable portfolio Apr 19th
Somayaji Ayalasomayajula, 22, Mechanical Engineer, Toronto
I’ve been interested in growing my money since I was 12. At a pretty young age my dad gave me some money and helped me buy a GIC (guaranteed income certificate) with it. I think the aim was to help me see how money grows through interest a.... More »
BMO financing deal with Canopy Growth marks policy shift for Canadian banks Jan 19th
Canopy Growth, Canada's largest licensed pot producer, announced the $175-million deal with BMO and GMP Securities on Wednesday..... More »
Switching to a better bank account Dec 16th
Almost every adult Canadian has a bank account, according to the Canadian Bankers Association. And there are practical reasons for that: most of us need a bank account to cover rent or mortgage payments, receive paycheques and to maintain our lifestyles.
But what if you’re looking for a bank acc.... More »
Battle for China’s mobile Internet shakes up stodgy industries from banking to taxis
– canadianbusiness.com
BEIJING, China – Alibaba, the e-commerce giant planning a blockbuster share sale in the U.S., shook up China’s vast but sleepy retailing industry by popularizing online shopping. Now it and China’s other Internet giants are mounting challenges in areas from banking to broadcasting.
The new wave of change was triggered by the abrupt shift of Chinese Internet users to surfing the Web via smartphones or tablets. Some 81 per cent of China’s 618 million Internet users now go online wirelessly. Companies such as Alibaba that arose in the era of the desktop computer-based Internet are scrambling to roll out mobile-friendly services.
The services Web users flock to are usually privately owned, while they are leaving behind traditional state-owned companies that control many industries. Video websites compete with state TV, online financial services draw deposits away from banks and instant messaging apps take revenue from government-owned phone carriers.
“I try to buy everything online,” said Cao Ying, a 30-year-old software engineer in Shanghai…
The new wave of change was triggered by the abrupt shift of Chinese Internet users to surfing the Web via smartphones or tablets. Some 81 per cent of China’s 618 million Internet users now go online wirelessly. Companies such as Alibaba that arose in the era of the desktop computer-based Internet are scrambling to roll out mobile-friendly services.
The services Web users flock to are usually privately owned, while they are leaving behind traditional state-owned companies that control many industries. Video websites compete with state TV, online financial services draw deposits away from banks and instant messaging apps take revenue from government-owned phone carriers.
“I try to buy everything online,” said Cao Ying, a 30-year-old software engineer in Shanghai…
After freezing service to Russian banks under U.S. sanctions in March, Visa and Mastercard now face a demand for a $3.8 billion US security deposit in Russia, as well as a strict new regulatory regime.
European Central Bank has discussed stimulus, but analysts say any move more likely in June
– canadianbusiness.com
FRANKFURT – A modestly brighter economic outlook has analysts thinking the European Central Bank will probably not deploy more stimulus measures for the 18 countries that use the euro currency.
The bank’s 24-member rate-setting council meets Thursday in Brussels.
Several analysts are saying the bank won’t act before June’s meeting — if at all.
ECB President Mario Draghi says the bank is ready to provide stimulus if things start looking worse. That could include a cut in the bank’s benchmark interest rate from the record low 0.25 per cent, a negative deposit rate for banks, or even bond purchases.
Inflation remains low at 0.7 per cent, a sign of slack. But recent surveys suggest the modest recovery is gaining strength. Unemployment has fallen slightly but still stands at a high 11.9 per cent.
The post European Central Bank has discussed stimulus, but analysts say any move more likely in June appeared first on Canadian Business.
The bank’s 24-member rate-setting council meets Thursday in Brussels.
Several analysts are saying the bank won’t act before June’s meeting — if at all.
ECB President Mario Draghi says the bank is ready to provide stimulus if things start looking worse. That could include a cut in the bank’s benchmark interest rate from the record low 0.25 per cent, a negative deposit rate for banks, or even bond purchases.
Inflation remains low at 0.7 per cent, a sign of slack. But recent surveys suggest the modest recovery is gaining strength. Unemployment has fallen slightly but still stands at a high 11.9 per cent.
The post European Central Bank has discussed stimulus, but analysts say any move more likely in June appeared first on Canadian Business.
