How to go about securing the best policy for your insurance in Canada.
Latest News
Tenant Insurance: How much is your stuff worth? + MORE Nov 11th
Tenant insurance is what stops a bad situation from becoming a true worst-case scenario. It protects you from the immediate results of a bad situation, in three very important ways: Contents, additional living expenses and liability.
Those are insurance terms, but here’s what they actually mean to.... More »
Canada’s best travel credit cards 2020 + MORE Jan 3rd
With a good travel credit card in your name, going on a trip can suddenly become affordable. And, you can get even more value if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks such as lounge access, amazing insurance coverage and the flexib.... More »
Steps to getting the perfect mortgage for you + MORE Jun 15th
If you’ve been saving for a home, you might be thinking now is the time to buy. Whether you’re a first time buyer or a current homeowner, buying a new home means making tough decisions. We’re here to make sure that you have a good enough understanding of mortgages before you jump right in. He.... More »
5 things to know about the Equifax hack Sep 12th
MONTREAL — Credit monitoring company Equifax says it was hit between mid-May and July by a high-tech heist of sensitive personal information from about 143 million Americans, including an unspecified number of Canadians.
Here are five things you need to know:
1) What is Equifax: The Atlanta-based.... More »
Canada’s best travel credit cards 2020 + MORE May 15th
With a good travel credit card in your name, going on a trip can suddenly become affordable. And, you can get even more value if you sign up for the right travel credit card—one that doesn’t just focus on points, but also has perks such as lounge access, amazing insurance coverage and the flexib.... More »
How to avoid the underwater mortgage
– moneysense.ca
(John Lund/Getty Images)Q: I’ve read a lot about the possibility of first time home buyers ending up with an underwater mortgage? I’m not sure what this is, but it doesn’t sound good. Can you explain what an underwater mortgage is and how to avoid it?
— Trying to be responsible, Calgary, Alta.
Answer from Robert McLister, mortgage planner with Ratespy: No homeowner wants an underwater mortgage. It means you have negative equity—i.e., you owe your lender more than your home is worth.
If you’re making a small down payment, it’s easy to become submerged. Imagine you’re buying a $400,000 home with only 5% down, for instance (that works out to $20,000). The day you close that mortgage you’ll owe $393,680 including mandatory default insurance fees. That’s a whopping 98.4% of the purchase price.
Now imagine unemployment soars and incomes drop or people just stop buying as many houses, which sends the market into a 20% correction. Suddenly you owe about $390,000 on a property worth only $320,000…
Newly released figures show jobless
Canadians are waiting days for answers
to their employment insurance questions,
and a month or more to find out if they
are going to receive benefits.
Canadians are waiting days for answers
to their employment insurance questions,
and a month or more to find out if they
are going to receive benefits.
Business Highlights
– canadianbusiness.com
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Starwood takes improved bid from Anbang
NEW YORK (AP) — Starwood called off a $12.2 billion buyout agreement with Marriott in favour of an offer from a group of investors led by the Chinese insurance company Anbang.
The decision came after Anbang upped its offer for Starwood by nearly $370 million Friday, bringing the total to more than $14 billion. Starwood, which owns the Sheraton and Westin hotel brands, has to pay Marriott $400 million to end the deal.
Chinese companies have parked a lot of money in U.S. assets in recent years, seeing it as a safe bet.
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Market finishes 5th week of gains, turning S&P 500 positive
NEW YORK (AP) — Another strong gain for stocks Friday extended the market’s recovery from a dismal start to the year to a fifth week in a row.
The Standard and Poor’s 500 index closed up for the year for the first time. The Dow Jones industrial average turned positive Thursday. Both had been down more than 10 per cent for the year a little more than a month ago…
Starwood takes improved bid from Anbang
NEW YORK (AP) — Starwood called off a $12.2 billion buyout agreement with Marriott in favour of an offer from a group of investors led by the Chinese insurance company Anbang.
The decision came after Anbang upped its offer for Starwood by nearly $370 million Friday, bringing the total to more than $14 billion. Starwood, which owns the Sheraton and Westin hotel brands, has to pay Marriott $400 million to end the deal.
Chinese companies have parked a lot of money in U.S. assets in recent years, seeing it as a safe bet.
___
Market finishes 5th week of gains, turning S&P 500 positive
NEW YORK (AP) — Another strong gain for stocks Friday extended the market’s recovery from a dismal start to the year to a fifth week in a row.
The Standard and Poor’s 500 index closed up for the year for the first time. The Dow Jones industrial average turned positive Thursday. Both had been down more than 10 per cent for the year a little more than a month ago…
Starwood and Columbia Pipeline climb on deals, Adobe rises
– canadianbusiness.com
Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq stock market:
NYSE
Starwood Hotels & Resorts Worldwide Inc. (HOT), up $4.18 to $80.57
The hotel chain accepted a $14 billion buyout offer from a group led by Anbang Insurance Group of China.
Columbia Pipeline Group Inc. (CPGX), up $1.33 to $24.84
TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S.
Tiffany & Co. (TIF), up $2.07 to $72.19
The jewelry retailer had a difficult fourth quarter, but its profit was larger than investors expected.
JPMorgan Chase & Co. (JPM), up $1.73 to $60.48
The bank said it will buy back another $1.88 billion in company stock, and got a boost from rising oil prices.
Textron Inc. (TXT), up $1.20 to $36.17
The weakening dollar could make Textron’s products, including Cessna small planes and Bell helicopters, more affordable overseas.
Bank of America Corp. (BAC), up 39 cents to $13…
NYSE
Starwood Hotels & Resorts Worldwide Inc. (HOT), up $4.18 to $80.57
The hotel chain accepted a $14 billion buyout offer from a group led by Anbang Insurance Group of China.
Columbia Pipeline Group Inc. (CPGX), up $1.33 to $24.84
TransCanada Corp. agreed to buy the company for $10 billion, or $25.50 per share, in an attempt to expand further into the U.S.
Tiffany & Co. (TIF), up $2.07 to $72.19
The jewelry retailer had a difficult fourth quarter, but its profit was larger than investors expected.
JPMorgan Chase & Co. (JPM), up $1.73 to $60.48
The bank said it will buy back another $1.88 billion in company stock, and got a boost from rising oil prices.
Textron Inc. (TXT), up $1.20 to $36.17
The weakening dollar could make Textron’s products, including Cessna small planes and Bell helicopters, more affordable overseas.
Bank of America Corp. (BAC), up 39 cents to $13…
