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Cryptocurrency exchange Cryptomus fined record $177M by Fintrac + MORE Oct 23rd
A cryptocurrency exchange has been fined almost $177 million—the largest-ever penalty by Canada’s financial intelligence agency—for infractions including failing to flag more than 1,000 transactions with suspected links to criminal activity. The Financial Transactions and Reports Ana.... More »
How credit card interest works Jun 17th
If you’ve ever carried a balance on your credit card, you’ve seen interest charges appear on your bill. You’ve likely heard it before, but the best practice is to pay off your credit card on time and in full, every month, to avoid interest charges. That said, many Canadians do carry a balance,.... More »
Hot stocks: Canada’s top performers in Q2 2025 Jul 4th
Celestica Inc. (CLS) was the best large- or mid-cap stock to own on the Toronto Stock Exchange over the past three months, with a gain of 76.6%, followed by Cameco Corp. (CCO, 67.6%) and Galaxy Digital Inc. (GLXY, 66.4%).
The second quarter of 2025 turned out to be a rebound period for Canadian e.... More »
Shannon Lee Simmons defines “emotional return on investment” and her take on personal debt Jan 28th
Three-time author, founder and Certified Financial Planner Shannon Lee Simmons is no stranger to going off-budget—and she’s not afraid to talk about it. After quitting her Bay Street job to start her own advice-only financial planning firm, the New School of Finance, she found herself in more de.... More »
“Is it better to pay down our mortgage or ramp up contributions to our teen’s RESP?” Nov 28th
Q. My husband and I, both in our early 40s, bought a house in Toronto four years years ago. Since then, our variable rate mortgage has gone up four times and is now at 3.2%.
We have managed to pay down $150,000 of our mortgage in those four years with the extra bi-weekly payments and have $260,000 r.... More »
AIG sells its stake in United Guaranty
– canadianbusiness.com
NEW YORK, N.Y. – AIG on Monday said it is selling its stake in United Guaranty to Arch Capital Group in a cash-and-stock deal worth $3.4 billion.
The move is part of New York-based American International Group Inc.’s ongoing effort to streamline its organization.
United Guaranty Corp. is a major private mortgage insurance company. Arch Capital, based in Bermuda, writes specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance.
The deal includes $2.2 billion in cash, $250 million of newly issued Arch Capital perpetual preferred stock and $975 million of newly issued convertible non-voting common-equivalent preferred stock. The transaction still requires regulatory approval.
AIG in January announced its plan to spin off United Guaranty amid pressure from activist investor Carl Icahn, who has called for AIG to be split into three separate companies.
Icahn has argued that AIG is “too big to succeed,” playing on the phrase “too big to fail,” a label put on the company during the financial crisis…
The move is part of New York-based American International Group Inc.’s ongoing effort to streamline its organization.
United Guaranty Corp. is a major private mortgage insurance company. Arch Capital, based in Bermuda, writes specialty lines of property and casualty insurance and reinsurance, as well as mortgage insurance and reinsurance.
The deal includes $2.2 billion in cash, $250 million of newly issued Arch Capital perpetual preferred stock and $975 million of newly issued convertible non-voting common-equivalent preferred stock. The transaction still requires regulatory approval.
AIG in January announced its plan to spin off United Guaranty amid pressure from activist investor Carl Icahn, who has called for AIG to be split into three separate companies.
Icahn has argued that AIG is “too big to succeed,” playing on the phrase “too big to fail,” a label put on the company during the financial crisis…
Miner BHP Billiton suffers $6.4 billion loss for 2015-16
– canadianbusiness.com
CANBERRA, Australia – The world’s biggest miner, BHP Billiton, on Tuesday reported a $6.4 billion loss, the worst full-year result in the Anglo-Australian company’s history.
BHP said the result for the fiscal year ending June 30 came from a 31 per cent fall in revenue to $30.1 billion amid weak commodity prices, write downs of U.S. oil and gas assets and a disaster at a Brazilian mining joint venture.
BHP posted a $1.9 billion profit for the previous year, which was 14 per cent of the $13.8 billion posted in 2013-14.
The latest result is the worst since the company headquartered in Melbourne, Australia, was formed in 2001 through the merger of two corporations founded in the 19th century — Australia’s Broken Hill Proprietary Co. Ltd. and London-listed Billiton Plc.
In 2010-11, it posted its best results ever of $23.6 billion.
A dam failure in November at an iron ore mine co-owned by BHP and Vale in Brazil killed 19 people and caused the worst environmental disaster in the country’s history…
BHP said the result for the fiscal year ending June 30 came from a 31 per cent fall in revenue to $30.1 billion amid weak commodity prices, write downs of U.S. oil and gas assets and a disaster at a Brazilian mining joint venture.
BHP posted a $1.9 billion profit for the previous year, which was 14 per cent of the $13.8 billion posted in 2013-14.
The latest result is the worst since the company headquartered in Melbourne, Australia, was formed in 2001 through the merger of two corporations founded in the 19th century — Australia’s Broken Hill Proprietary Co. Ltd. and London-listed Billiton Plc.
In 2010-11, it posted its best results ever of $23.6 billion.
A dam failure in November at an iron ore mine co-owned by BHP and Vale in Brazil killed 19 people and caused the worst environmental disaster in the country’s history…
New CCB to boost back-to-school shopping
– moneysense.ca
TORONTO – Retail experts are forecasting an increase in Canadian back-to-school spending this summer thanks in part to the low loonie and the new Canada Child Benefit.Business consulting firm EY, formerly Ernst and Young, predicts that retailers will see a 4.5 per cent increase this year over 2015 sales as students stock up for another year in the classroom.
EY’s forecast is based on factors that include province-by-province employment numbers, housing markets and consumer spending habits over the past 12 to 18 months, said EY’s Daniel Baer in a recent interview.
EY also asked retailers across the country for their own sales trends and expectations.
Back to school is the second-biggest shopping season after Christmas, Baer said.
“What we’ve been seeing is stronger retail sales for a few reasons,” said Baer. “The Canadian economy has been relatively strong (and) there’s been some more government spending in terms of child-care benefits … putting money into the hands of families…
Turkish police raid 44 companies in probe into failed coup
– canadianbusiness.com
ANKARA, Turkey – Turkey’s state-run news agency says police have launched simultaneous raids on 44 companies suspected of providing financial support to U.S.-based Muslim cleric Fethullah Gulen’s movement.
Turkey accuses Gulen of being behind the July 15 failed coup, a claim Gulen denies.
The Anadolu Agency says Tuesday’s raids in Istanbul’s Umraniye and Uskudar districts came after authorities issued warrants to detain 120 company executives as part of the investigation into the coup attempt. The agency did not identify the companies searched.
The government has launched a massive crackdown on suspected supporters of Gulen’s movement. More than 35,000 people have been detained for questioning while tens of thousands of others have been dismissed from government jobs, including in the judiciary, media, education, health care, military and local government.
The post Turkish police raid 44 companies in probe into failed coup appeared first on Canadian Business – Your Source For Business News.
Turkey accuses Gulen of being behind the July 15 failed coup, a claim Gulen denies.
The Anadolu Agency says Tuesday’s raids in Istanbul’s Umraniye and Uskudar districts came after authorities issued warrants to detain 120 company executives as part of the investigation into the coup attempt. The agency did not identify the companies searched.
The government has launched a massive crackdown on suspected supporters of Gulen’s movement. More than 35,000 people have been detained for questioning while tens of thousands of others have been dismissed from government jobs, including in the judiciary, media, education, health care, military and local government.
The post Turkish police raid 44 companies in probe into failed coup appeared first on Canadian Business – Your Source For Business News.
One of the best pearls of investing wisdom I've ever heard
– theglobeandmail.com
Managing director and head of global financial strategies at Credit Suisse Michael Mauboussin distills 30 years of investing wisdom
