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Making sense of the markets this week: November 2 Oct 31st
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Big, juicy Canadian dividend stocks are on sale
In Canada, we now have the largest spread (in three decades) between Canadian bond yields and the Canadian high dividend inde.... More »
Silicon Valley Bank files for bankruptcy | GMA - ABC News Mar 18th
Silicon Valley Bank files for bankruptcy | GMA ABC NewsParent company of Silicon Valley Bank filing for bankruptcy protection CBC NewsSVB Financial Goes Bankrupt Bloomberg TelevisionSVB parent company files for bankruptcy CTV NewsSilicon Valley Bank parent.... More »
Should retirees consider a home equity sharing agreement (HESA)? Jan 30th
Toronto-based Clay Financial recently began accepting applications for a new home equity product called a home equity sharing agreement, or HESA—not to be confused with the HISA, which stands for high-interest savings account.
Clay raised seed funding in 2023 and is initially launching the prod.... More »
How to make more money in Canada: 6 side hustle ideas Mar 6th
Six ideas for earning extra money
Drive for a ridesharing or delivery service Turn your hobby into a side businessStart freelancingRent out your carGet paid for filling out surveysMake money on social media
How do you start a side hustle?
As inflation skyrocketed and prices for everyday .... More »
The best GIC rates in Canada for 2024 Jul 22nd
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The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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North American stock markets reverse course, as loonie continues slide
– canadianbusiness.com
TORONTO _ Canada’s main stock market pared back some of its losses as U.S. stocks closed sharply higher after another turbulent day of steep ups and downs.
The Toronto Stock Exchange’s S&P/TSX composite index was ahead 29.12 points at 15,363.93, led by strong gains in the health-care and base metals sectors.
In New York, the Dow Jones industrial average was up 567.02 points at 24,912.77 _ coincidentally, about the same amount it plunged at the opening of markets.
Meanwhile, the S&P 500 was up 46.20 points at 2,695.14 and the Nasdaq composite index was up 148.35 points at 7,115.88.
The Dow posted its biggest percentage decline since August 2011 on Monday, driven by fears the U.S. Federal Reserve will raise interest rates faster than expected.
In currency markets, the Canadian dollar closed at an average trading value of 79.81 cents US, down 0.30 of a U.S. cent.
The March crude contract was down 76 cents to US$63.39 per barrel and the March natural gas contract was up one cent to US$2…
The Toronto Stock Exchange’s S&P/TSX composite index was ahead 29.12 points at 15,363.93, led by strong gains in the health-care and base metals sectors.
In New York, the Dow Jones industrial average was up 567.02 points at 24,912.77 _ coincidentally, about the same amount it plunged at the opening of markets.
Meanwhile, the S&P 500 was up 46.20 points at 2,695.14 and the Nasdaq composite index was up 148.35 points at 7,115.88.
The Dow posted its biggest percentage decline since August 2011 on Monday, driven by fears the U.S. Federal Reserve will raise interest rates faster than expected.
In currency markets, the Canadian dollar closed at an average trading value of 79.81 cents US, down 0.30 of a U.S. cent.
The March crude contract was down 76 cents to US$63.39 per barrel and the March natural gas contract was up one cent to US$2…
WestJet Airlines says low cost Swoop attracting a new breed of infrequent flyers
– canadianbusiness.com
CALGARY _ Nearly a week after launching ticket sales for its ultra-low-cost carrier Swoop, WestJet Airlines Ltd. says it hasn’t lost business at its main airline, suggesting it has found a new market of infrequent flyers.
“Clearly what we’re seeing is that Canadians like low fares,” Ed Sims, executive vice-president, commercial, told a conference call with financial analysts Tuesday to discuss the airline’s fourth-quarter results.
“It’s been six days since we went on sale. We’re tracking Swoop’s growth on an hourly basis and we’re seeing no signs of cannibalization (of WestJet ticket sales).”
WestJet matched analyst expectations by posting earnings of $48.5 million or 42 cents per diluted share for the last three months of 2017, down from a profit of $55.2 million or 47 cents per diluted share a year earlier, as costs rose, particularly for fuel.
Revenue totalled nearly $1.12 billion, up from nearly $1.02 billion in the fourth quarter of 2016…
“Clearly what we’re seeing is that Canadians like low fares,” Ed Sims, executive vice-president, commercial, told a conference call with financial analysts Tuesday to discuss the airline’s fourth-quarter results.
“It’s been six days since we went on sale. We’re tracking Swoop’s growth on an hourly basis and we’re seeing no signs of cannibalization (of WestJet ticket sales).”
WestJet matched analyst expectations by posting earnings of $48.5 million or 42 cents per diluted share for the last three months of 2017, down from a profit of $55.2 million or 47 cents per diluted share a year earlier, as costs rose, particularly for fuel.
Revenue totalled nearly $1.12 billion, up from nearly $1.02 billion in the fourth quarter of 2016…
New mortgage rules sending borrowers to alternatives
– moneysense.ca
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…
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…
North American shares headed higher in the morning with financial markets a lot calmer following days of volatile trading and steep losses.
36% of Canadians surveyed lied about money to partner
– moneysense.ca
TORONTO — As Valentine’s Day approaches, a new survey suggests some Canadians planning to take their relationships to the next level may want to have a frank conversation about infidelity — financial infidelity, that is.
The online poll found 36 per cent of Canadians surveyed have lied about a financial matter to a romantic partner, and the same number of participants had been victims of financial infidelity from a current or former partner.
The Leger survey for Credit Canada and the Financial Planning Standards Council also found 34 per cent of those polled keep financial secrets from their current romantic partner.
“We wanted to understand what’s on the hearts and minds of Canadians at this time of the year, as it tends to be a time when people are talking about being in a relationship,” said Kelley Keehn, a personal finance educator and consumer advocate for the council, which helped create the survey.
“We’re hoping that the takeaway is if you are one of those Canadians who are struggling, you are suffering in silence, it’s affecting your marriage, maybe your health, that you’re reaching out to someone like a certified financial planner or a non-profit credit counsellor…
The online poll found 36 per cent of Canadians surveyed have lied about a financial matter to a romantic partner, and the same number of participants had been victims of financial infidelity from a current or former partner.
The Leger survey for Credit Canada and the Financial Planning Standards Council also found 34 per cent of those polled keep financial secrets from their current romantic partner.
“We wanted to understand what’s on the hearts and minds of Canadians at this time of the year, as it tends to be a time when people are talking about being in a relationship,” said Kelley Keehn, a personal finance educator and consumer advocate for the council, which helped create the survey.
“We’re hoping that the takeaway is if you are one of those Canadians who are struggling, you are suffering in silence, it’s affecting your marriage, maybe your health, that you’re reaching out to someone like a certified financial planner or a non-profit credit counsellor…
