Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
CPPIB shows faith in Chinese economy with major investment + MORE Mar 2nd
Hong-Kong-based executives of the Canada Pension Plan Investment Board first approached officials at Postal Savings Bank of China in 2013 with a view to invest. Two years later, the CPPIB pulled off a deal that would see it invest US$500 million in the company, one of China’s biggest retail ba.... More »
Quiz: How Well Do You Know Your Credit Card? Jul 7th
According to the 2019 Canada Credit Card Satisfaction Study by J.D. Power, “customers who fully understand the benefits offered by their credit card issuer have significantly higher satisfaction levels compared with those who do not completely understand the benefits.”
Customers are more satisf.... More »
Key steps to getting out of credit card debt as the cost of borrowing rises Jul 12th
Paying off high-interest credit card debt should be a top priority — even if the big banks' decision to raise their prime rates doesn't directly impact credit card rates, says a credit counselling expert..... More »
BMO Preferred Rate Mastercard review + MORE May 4th
Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular i.... More »
Introducing KOHO, a unique financial service app Aug 17th
Nowadays, consumers can shop around for the low- or no-fee accounts, competitive interest rates, and additional features they want. And banks aren’t the only ones delivering financial services to Canadians. Fintechs, which integrate technologies into the financial sector, have empowered developers.... More »
Business Highlights
– canadianbusiness.com
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Steady US job gains likely foretell a new era: Higher rates
WASHINGTON (AP) — A new era of higher rates on home and car loans, steeper borrowing costs for businesses and the government — maybe even a bit more return for savers — is about to arrive.
That, at least, is the word from most economists. After another solid U.S. jobs report Friday, they say the Federal Reserve seems all but sure to raise its short-term interest rate next month after keeping it pinned near zero for nearly seven years.
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Even with banks open, Greek firms paralyzed by restrictions
THESSALONIKI, Greece (AP) — Panagiotis Papadopoulos, the owner of a Greek company that builds and exports glass products like shower cabins, has been waiting three weeks to pay a supplier in Bulgaria.
It’s not that he doesn’t have the 45,000 euros ($49,000) or doesn’t want to pay. It’s that he first needs the approval of a committee run by the finance ministry in Athens.
Any business that wants to pay a foreign supplier needs this approval because the government is worried about money flowing out of the country due to its financial crisis…
Steady US job gains likely foretell a new era: Higher rates
WASHINGTON (AP) — A new era of higher rates on home and car loans, steeper borrowing costs for businesses and the government — maybe even a bit more return for savers — is about to arrive.
That, at least, is the word from most economists. After another solid U.S. jobs report Friday, they say the Federal Reserve seems all but sure to raise its short-term interest rate next month after keeping it pinned near zero for nearly seven years.
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Even with banks open, Greek firms paralyzed by restrictions
THESSALONIKI, Greece (AP) — Panagiotis Papadopoulos, the owner of a Greek company that builds and exports glass products like shower cabins, has been waiting three weeks to pay a supplier in Bulgaria.
It’s not that he doesn’t have the 45,000 euros ($49,000) or doesn’t want to pay. It’s that he first needs the approval of a committee run by the finance ministry in Athens.
Any business that wants to pay a foreign supplier needs this approval because the government is worried about money flowing out of the country due to its financial crisis…
