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Dude, Where’s My Distribution? Feb 9th
Investors using the TD e-Series mutual funds may have noticed an unusual episode at year-end. The TD International Index Fund (TDB911), which has been making quarterly distributions for years, did not make one in December 2020. This has caused some confusion, so let’s try to clear up The Curio.... More »
Compare high-risk auto insurance quotes for Ontario + MORE Feb 5th
The cost of auto insurance—which is required for drivers in Canada—can vary widely. Why? Because it’s all about risk. How risky your car is—is it prone to safety issues that could cause an accident? Is it a car-thief magnet? How risky your neighbourhood is—whether you live in an urban or r.... More »
Canada’s best store credit cards for 2023 + MORE Apr 6th
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The best store credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
Let’s get started*
.... More »
How mutual funds grew to be a $1.5-trillion industry in Canada Oct 2nd
Don’t buy into deferred sales charges funds, you have the right to pay upfront commissions instead, writes Ellen Roseman..... More »
Markets need active investors more than ever + MORE Apr 15th
(Illustration by Sam Island)
I am a firm believer in stock picking. I think stock picking, with the right process and the right temperament, works. Stock pickers, at least the ones I track, in the long run tend to outperform. As a result, the growth in exchange-traded funds, which are investment .... More »
Telegraph.co.ukGREECE LATEST-Greek govt to seek parliament approval of reforms FridayReutersJuly 9 Following is the latest news on Greece's debt crisis after euro zone leaders set Athens a deadline of the end of the week to come up with convincing reform proposals . All times are in GMT. 2234 – Greece offered a package of reform proposals to …Greece sends reform plan to EU promising new tax hikesTimes of IndiaGreek Plan Accepts Austerity to Get Debt ReliefNew York TimesGreece in new bid for bailout cashBBC NewsNew Zealand Herald -The Australian Financial Reviewall 3,108 news articles »
Business Highlights
– canadianbusiness.com
DETROIT – ___
Greek government offers sweeping proposal to creditors
ATHENS, Greece (AP) — Greece finally met a deadline that counted on Thursday and made a series of sweeping proposals that its creditors needed by midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.
The package met longstanding demands by creditors to impose wide-ranging sales-tax hikes and cuts in state spending for pensions that the left-leaning Greek government had long resisted.
It raised hopes that Greece can get the rescue deal that will prevent a catastrophic exit from the euro after key creditors said they were open to discussing how to ease the country’s debt load, a long-time sticking point in their talks.
___
A dramatic trading shutdown with little impact on 401(k)s
NEW YORK (AP) — You can read all about it on social media and newspapers, but you won’t find a trace of it where it really matters: Your next 401(k) statement.
In a dramatic breakdown that once would have sent the market plunging, the world’s most iconic stock exchange, the NYSE, was forced to stop trading for nearly four hours Wednesday…
Greek government offers sweeping proposal to creditors
ATHENS, Greece (AP) — Greece finally met a deadline that counted on Thursday and made a series of sweeping proposals that its creditors needed by midnight to set off a mad rush toward a weekend deal to stave off a financial collapse of the nation.
The package met longstanding demands by creditors to impose wide-ranging sales-tax hikes and cuts in state spending for pensions that the left-leaning Greek government had long resisted.
It raised hopes that Greece can get the rescue deal that will prevent a catastrophic exit from the euro after key creditors said they were open to discussing how to ease the country’s debt load, a long-time sticking point in their talks.
___
A dramatic trading shutdown with little impact on 401(k)s
NEW YORK (AP) — You can read all about it on social media and newspapers, but you won’t find a trace of it where it really matters: Your next 401(k) statement.
In a dramatic breakdown that once would have sent the market plunging, the world’s most iconic stock exchange, the NYSE, was forced to stop trading for nearly four hours Wednesday…
Are you owed a slice of the $5B unclaimed assets pie?
– moneysense.ca
Canadians are leaving as much as $5 billion worth of unclaimed assets on the table and without proper processes in place in Ontario, that money is likely sit for some time more.
“I call it Canada’s under-the-radar economic action plan in waiting, and it wouldn’t cost as much as building infrastructure,” Brenda Potter Phelan, president and CEO of LegacyTracker, a web-based personal finance tracking tool, recently told CBC News.
Only British Columbia, Alberta, and Quebec have legislation and databases in place to help individuals search for their unclaimed credit union account balances, trust funds and unpaid wages. Efforts to bring similar procedures to Ontario have faced resistance from the financial sector, according to the broadcaster.
Unclaimed assets sitting in accounts with Canada’s big banks fall under federal jurisdiction. You can sift through those via the Bank of Canada’s searchable database online.
“I call it Canada’s under-the-radar economic action plan in waiting, and it wouldn’t cost as much as building infrastructure,” Brenda Potter Phelan, president and CEO of LegacyTracker, a web-based personal finance tracking tool, recently told CBC News.
Only British Columbia, Alberta, and Quebec have legislation and databases in place to help individuals search for their unclaimed credit union account balances, trust funds and unpaid wages. Efforts to bring similar procedures to Ontario have faced resistance from the financial sector, according to the broadcaster.
Unclaimed assets sitting in accounts with Canada’s big banks fall under federal jurisdiction. You can sift through those via the Bank of Canada’s searchable database online.
The post Are you owed a slice of the $5B unclaimed assets pie? appeared first on MoneySense.
Apple Pay should have little impact on Canadian bank earnings, analyst says
– theglobeandmail.com
Lenders would only see small profit cut when Apple’s mobile payment service launches in Canada. The bigger worry for banks is if firms like Apple and Google, with its Android Pay, use this technology as a stepping stone to advance into other financial services
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,278.49, down 133.58 points):
Pacific Rubiales Energy Corp. (TSX:PRE). Oil and gas. Down $2.40, or 45.71 per cent, to $2.85 on 15 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down 18 cents, or 8.26 per cent, to two dollars on 11.9 million shares.
Bank of Nova Scotia (TSX:BNS). Bank. Down 54 cents, or 0.85 per cent, to $63.08 on 5.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financial Services. Down seven cents, or 0.31 per cent, to $22.63 on 3.9 million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up eight cents, or 0.63 per cent, to $12.75 on 3.7 million shares.
Royal Bank of Canada (TSX:RY). Bank. Down 12 cents, or 0.16 per cent, to $75.48 on 3.6 million shares.
Companies reporting major news:
Loblaw Companies Ltd. (TSX:L). Grocer. Down 22 cents, or 0.35 per cent, to $63.24 on 575,933 shares. The union that represents about 12,000 workers at 60 Loblaw-owned grocery stores in Ontario says they have averted a strike after members voted to accept a six-year contract that takes effect immediately…
Toronto Stock Exchange (14,278.49, down 133.58 points):
Pacific Rubiales Energy Corp. (TSX:PRE). Oil and gas. Down $2.40, or 45.71 per cent, to $2.85 on 15 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down 18 cents, or 8.26 per cent, to two dollars on 11.9 million shares.
Bank of Nova Scotia (TSX:BNS). Bank. Down 54 cents, or 0.85 per cent, to $63.08 on 5.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financial Services. Down seven cents, or 0.31 per cent, to $22.63 on 3.9 million shares.
Encana Corp. (TSX:ECA). Oil and gas. Up eight cents, or 0.63 per cent, to $12.75 on 3.7 million shares.
Royal Bank of Canada (TSX:RY). Bank. Down 12 cents, or 0.16 per cent, to $75.48 on 3.6 million shares.
Companies reporting major news:
Loblaw Companies Ltd. (TSX:L). Grocer. Down 22 cents, or 0.35 per cent, to $63.24 on 575,933 shares. The union that represents about 12,000 workers at 60 Loblaw-owned grocery stores in Ontario says they have averted a strike after members voted to accept a six-year contract that takes effect immediately…
