Manulife results hit by lower insurance sales, slower wealth management growth + MORE Feb 7th

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What’s your RRSP contribution limit? Feb 19th

If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2017 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, you.... More »

Founder of Chinese company with billions in B.C. assets gets 18 years for fraud May 11th

Anbang Insurance Group's extensive B.C. holdings — including Vancouver's Bentall Centre and the largest retirement and care home company in the province — is now controlled by the Chinese government..... More »

Saskatchewan deficit down to $595M, aiming to balance by 2020: fiscal update + MORE Mar 3rd

REGINA _ The Saskatchewan government’s latest fiscal update shows a dip in the provincial deficit forecast and a slight slip in provincial revenue and expenses. The third-quarter report projects the 2017-2018 deficit will be $595 million _ down $101 million from the red ink outlined in the las.... More »
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Export Development Canada to pay $969M dividend to federal government + MORE Apr 5th

OTTAWA _ Export Development Canada is paying a $969-million dividend to the federal government this year. The payment compares with a dividend of $786 million the agency paid last year and $500 million paid in 2016. EDC generates revenue primarily from interest on loans, fees on its guarantee produc.... More »
Insurer reported earnings per share after items of 59 cents; analysts had been looking for earnings of 58 cents a share

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TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance.
As a result, alternative lenders are seeing an uptick in business as brokers increasingly direct home buyers toward borrowing options that are beyond the reach of the Office of the Superintendent of Financial Institutions’ newly enacted tighter lending requirements.
READ: Your mortgage is about to get more expensive
Clients who don’t meet the bar are turning to private lenders, mortgage investment corporations (MICs) and credit unions, which are provincially regulated and not required to implement the stress test, said Carmen Campagnaro, president of Pro Funds Mortgages in Burlington, Ont.
Campagnaro is one of the brokers who said rejected loan applications to traditional lenders have risen by 20 per cent since Jan…

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