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 Get The Best Home Insurance Quote in Canada Nov 27th
Unlike car insurance, in Canada, there is no legal requirement to have homeowners insurance. But that doesn’t mean you should go without it. Find out why you need insurance and how to get the best homeowners insurance quotes in Canada.
Why Do Homeowners Need Insurance in Canada?
Although not legal.... More »
Big banks boost prime lending rates following BoC rate hike + MORE Jul 13th
TORONTO — Canada’s five biggest banks are boosting their prime lending rates by 25 basis points, following an interest rate hike from the central bank.
Royal Bank of Canada (TSX:RY), the Bank of Montreal (TSX:BMO), TD Bank (TSX:TD), Scotiabank (TSX:BNS) and CIBC (TSX:CM) all announced Wedne.... More »
How cash ETFs keep your money working Nov 25th
It’s a dilemma for many investors: you want to have cash set aside to hop on investment opportunities that might arise, but you also don’t want the money sitting in your portfolio not collecting any return. Enter cash exchange-traded funds. Experts say there is increasing demand for cash.... More »
U.S. dollar shortages hit Qatar exchange houses as foreign banks scale back ties Jun 11th
Saudi Arabia, the UAE, Bahraini and Egyptian banks began scaling back business with Qatar last week after their governments cut diplomatic and transport ties, accusing Doha of supporting terrorism
.... More »
Knowing Your Debts and Planning for Payments Post-Relief Efforts + MORE Jun 12th
The COVID-19 pandemic has changed many Canadians’ way of life. Unfortunately, some have lost their jobs or are working on reduced hours and, in turn, have had to rely on government support or their savings to help make ends meet.
According to the federal government’s 2019 Canadian Financial Cap.... More »
CIBC strikes partnership with online lender Borrowell
– theglobeandmail.com
Furthers trend of Canadian banks teaming up with fintech rivals
How to loan an RRSP mortgage
– moneysense.ca
Former federal government employee Tony Miller earns a steady return by loaning out his RRSP money. (Jessica Deeks)Born and raised in the east-end Orleans area of Ottawa, Tony Miller married an amazing woman, fathered two wonderful children and went to work for the federal government. But when he lost his job in 2013, he was faced with a predicament.
“I had a bit of money to play with from my severance package, but didn’t want to stick it in my RRSP,” says Miller. “I just didn’t like the returns I was getting on the mutual funds and stocks I held.” At the same time he was retraining to become a realtor and liked the idea of property investments, but didn’t relish the idea of getting involved in property management and tenant issues. “I wanted a less hands-on property investment.” So, Miller decided to imitate the banks and start lending out his own RRSP money in the form of a private loan. “It gave me much better returns,” says Miller, who calculates the annualized net return on his private loans at 10%…
Business Highlights
– canadianbusiness.com
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Some buyers call classes by ‘Flip or Flop’ stars misleading
NEW YORK (AP) — HGTV “Flip or Flop” stars Tarek and Christina El Moussa are capitalizing on their fame by offering pricy classes that promise to teach people how to flip homes for profit. But some participants said a class time was largely spent pushing them to buy more classes.
The classes are run by Zurixx LLC, an education company based in Utah.
The U.S. Federal Trade Commission has received 50 complaints about classes connected to Zurixx since 2013. And at least one local Better Business Bureau office has warned people about its events, citing the more than 150 complaints it has received.
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US stocks slip but steer clear of larger losses
NEW YORK (AP) — U.S. stocks dodged bigger losses and finished barely lower on Wednesday. Health care companies fell and Apple pulled technology companies down, but banks rose.
Earlier in the day, stocks had appeared to be headed for a second day of notable losses, but they recovered some of that lost ground in late trading…
Some buyers call classes by ‘Flip or Flop’ stars misleading
NEW YORK (AP) — HGTV “Flip or Flop” stars Tarek and Christina El Moussa are capitalizing on their fame by offering pricy classes that promise to teach people how to flip homes for profit. But some participants said a class time was largely spent pushing them to buy more classes.
The classes are run by Zurixx LLC, an education company based in Utah.
The U.S. Federal Trade Commission has received 50 complaints about classes connected to Zurixx since 2013. And at least one local Better Business Bureau office has warned people about its events, citing the more than 150 complaints it has received.
___
US stocks slip but steer clear of larger losses
NEW YORK (AP) — U.S. stocks dodged bigger losses and finished barely lower on Wednesday. Health care companies fell and Apple pulled technology companies down, but banks rose.
Earlier in the day, stocks had appeared to be headed for a second day of notable losses, but they recovered some of that lost ground in late trading…
