90 days – 1.75% + MORE Jun 13th

Shares stabilize after two days of turmoil

Britain could become the first major economy to tighten monetary policy since the 2008 financial crisis, Bank of England governor Mark Carney signalled, sending sterling shooting to a five-year high against the U.S. dollar on Friday.

(Image courtesy of anankkml/FreeDigitalPhotos.net)
Many parents steel themselves for a hefty bill when their kids head off to college: Canadian universities estimate a typical student will spend $20,000 a year on living expenses, rent and academic fees. But financial planner Barbara Garbens says that when you look at your out-of-pocket expenses, you could be in for a pleasant surprise.
That’s because costs like clothing, transportation, groceries and entertainment aren’t additional—they’re already part of your family’s budget. It’s also worth remembering that most students are eligible for some kind of tuition assistance these days. In Ontario, students whose parents make less than $160,000 per year receive a 30% tuition rebate (or about $1,800).
On top of that, students who work full-time during the summer can reasonably help subsidize schooling costs by $4,000.
Possible savings over one school year*
Total cost: $20,000
-$4,700 existing living expenses
-$4,000 student contribution through job
-$1,800 tuition rebate
Actual Cost: $9,500
* 8 months
The post Why sending a child to university is cheaper than you think appeared first on MoneySense.

This GIC rate is offered by Oaken Financial and was updated on 2014-06-06. Click on the link above to get more details or apply online.

Fred Chartrand/CP
U.S. President Barack Obama’s second ambassador to Canada, Bruce Heyman, arrived in Canada in March and, almost immediately, began organizing a coast-to-coast tour. The Ottawa posting is the first diplomatic job for Heyman, formerly a Chicago investment banker. It’s been a bit of a trial by fire. He spoke to Maclean’s about pipelines, the Obama-Harper relationship, and poutine.
Q: You’ve just finished three weeks on the road. What was the significance of this long trip across Canada to your work?
A: The U.S. government under my authority has over 1,200 employees, so the importance was to first go to our consulates. I really wanted to meet the people who work under my authority to get an assessment of how operations were taking place. In addition, I wanted to get to some border posts and airport clearance areas and find out first-hand how those operations are taking place. But also, when I sat down with each of the consul generals beforehand, over the phone, I said not only would I like to meet the employees, but I’d like to meet the political leaders, business leaders, and meet people who were just part of the community, to get a flavour of the place…