The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Making sense of the markets this week: June 7, 2021 Jun 4th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
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The Calgary Flames dig a deeper hole in arena debate Sep 16th
Flames president Ken King speaks on Friday to reporters about the team’s position on a new arena deal THE CANADIAN PRESS/Jeff McIntosh
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Trump impeachment inquiry: Highlights of the testimony so far - Global News Oct 18th
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President’s Choice is getting out of the daily banking business and more than two million current PC Financial customers are moving to CIBC, which will rebrand the bank as Simplii.
Airlines make it harder to earn free flights for loyalty
– canadianbusiness.com
Airline loyalty programs are losing much of their allure even for frequent flyers, and the rules for navigating the system have changed.
Flying is no longer the best way to earn miles or points. The biggest bang for your buck comes from signing up for the right credit card.
And those come-ons from the airline to sell you miles? Ignore them unless you are very close to a qualifying for a big trip.
Frequent-flyer programs get relatively little attention from Wall Street, and their financial importance to the airlines is not widely understood by travellers, who just hope to earn a free flight now and then.
Airline profits are subject to vagaries like the price of fuel, the actions of competitors on key routes, even the weather. Amid all that uncertainty, the airlines have found a reliable source of revenue in selling miles to banks, which then use the miles to persuade consumers to sign up for the cards and use them as much as possible.
“The bottom line is that the business of selling miles is a very profitable one and has proven historically to be far less cyclical than the core airline,” Joseph DeNardi, a Stifel analyst who tracks airlines, said this month in a note to clients…
Flying is no longer the best way to earn miles or points. The biggest bang for your buck comes from signing up for the right credit card.
And those come-ons from the airline to sell you miles? Ignore them unless you are very close to a qualifying for a big trip.
Frequent-flyer programs get relatively little attention from Wall Street, and their financial importance to the airlines is not widely understood by travellers, who just hope to earn a free flight now and then.
Airline profits are subject to vagaries like the price of fuel, the actions of competitors on key routes, even the weather. Amid all that uncertainty, the airlines have found a reliable source of revenue in selling miles to banks, which then use the miles to persuade consumers to sign up for the cards and use them as much as possible.
“The bottom line is that the business of selling miles is a very profitable one and has proven historically to be far less cyclical than the core airline,” Joseph DeNardi, a Stifel analyst who tracks airlines, said this month in a note to clients…
Stock indexes up moderately, loonie edges higher as NAFTA talks begin
– canadianbusiness.com
The major Canadian and U.S. stock indexes were up as NAFTA talks started officially in Washington, D.C.
The S&P/TSX composite index was up 73.38 points to 15,171.22, after 90 minutes of trading.
In New York, the Dow Jones industrial average was up 86.68 points to 22,085.67. The S&P 500 index up 9.18 points to 2,473.79 and the Nasdaq composite index was up 27.62 points to 6,360.64.
The Canadian dollar was trading at 78.73 cents US, up from an average price of 78.40 cents US on Tuesday.
The September crude contract was up 12 cents to US$47.67 per barrel and the September natural gas contract was down three cents to US$2.91 per mmBTU.
The December gold contract was down US$1.90 to US$1,277.80 an ounce and the September copper contract was up nine cents to US$2.97 a pound.
The post Stock indexes up moderately, loonie edges higher as NAFTA talks begin appeared first on Canadian Business – Your Source For Business News.
The S&P/TSX composite index was up 73.38 points to 15,171.22, after 90 minutes of trading.
In New York, the Dow Jones industrial average was up 86.68 points to 22,085.67. The S&P 500 index up 9.18 points to 2,473.79 and the Nasdaq composite index was up 27.62 points to 6,360.64.
The Canadian dollar was trading at 78.73 cents US, up from an average price of 78.40 cents US on Tuesday.
The September crude contract was up 12 cents to US$47.67 per barrel and the September natural gas contract was down three cents to US$2.91 per mmBTU.
The December gold contract was down US$1.90 to US$1,277.80 an ounce and the September copper contract was up nine cents to US$2.97 a pound.
The post Stock indexes up moderately, loonie edges higher as NAFTA talks begin appeared first on Canadian Business – Your Source For Business News.
CIBC breaking ties with PC Financial
– moneysense.ca
TORONTO — CIBC is launching a new direct banking brand that will absorb some two million customer accounts currently with Loblaw-owned President’s Choice Financial.
Toronto-based CIBC (TSX:CM) has provided the back-end banking services for PC Financial for nearly 20 years but the companies said Wednesday they are going their separate ways.
The bank says its new Simplii Financial brand will provide no-fee daily banking through online, mobile and telephone channels in much the same way that that PC Financial has offered its roughly two million clients.
Toronto-based CIBC (TSX:CM) has provided the back-end banking services for PC Financial for nearly 20 years but the companies said Wednesday they are going their separate ways.
The bank says its new Simplii Financial brand will provide no-fee daily banking through online, mobile and telephone channels in much the same way that that PC Financial has offered its roughly two million clients.
A surprising place to find free financial advice »
Loblaw’s President’s Choice Financial will continue to offer Mastercard credit card products and the PC Plus loyalty-points program.
The CEO of President’s Choice Financial says its customers are most interested in being able to make payments simply and the ability to get free groceries through points.
CIBC is promising a smooth transition for existing PC Financial clients with no changes to account numbers, mortgage terms or automatic payments and deposits…
What the CIBC-PC Financial break-up means for consumers
– canadianbusiness.com
Loblaw Co. is quitting the banking business in a deal that will see two million PC Financial mortgage and banking accounts automatically move to a new low-fee banking brand operated by CIBC, called Simplii Financial.
The deal is effective November 1 and ends a 19-year partnership between Loblaw and CIBC that ran PC Financial. Loblaw will maintain its PC Points program and continue to offer a MasterCard credit card aligned with PC Points. Here is what this news means for you.
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What happens to my PC Points?
PC Financial MasterCard products remain unchanged. President’s Choice Financial said it will continue to focus on payments and loyalty through its MasterCard and PC Plus Products.
If you move to Simplii, you will no longer automatically accumulate PC Points by using your banking services after October 31…
