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Latest News
US stock indexes drift lower in early trading; oil up + MORE Aug 8th
U.S. stocks drifted lower in early trading Monday as investors sized up the latest company earnings and deal news. The major stock indexes were coming off new highs set last week following a strong U.S. jobs report. Energy stocks surged the most as oil prices rose, while health care companies were t.... More »
Ombudsman: federal tax relief program needs funding to improve response time + MORE Nov 17th
OTTAWA _ The federal government’s Taxpayers’ Ombudsman says the Canada Revenue Agency needs more permanent base funding for a program that provides financial relief to taxpayers who fall behind on payments because of a disaster or hardship.
The ombudsman says in a report that it’s .... More »
Should you buy back pension service from your employer? Jun 19th
While defined benefit (DB) pensions are the Cadillac of retirement plans, they also entail a unique set of decisions. Buybacks are one of them.
There are a few ways to build up the value of your DB pension: by working to accumulate years of “pensionable service,” of course; by transferring servi.... More »
Here’s the latest as the U.S. imposes tariffs on goods from Canada and Mexico Mar 4th
President Donald Trump today imposed tariffs on imports from Canada and Mexico.
The president’s executive order hitting Canada and Mexico with 25% across-the-board tariffs, with a lower 10% levy on Canadian energy, took effect at 12:01 a.m. ET.
At a news conference in Ottawa, Prime Minister .... More »
My three kids chose different educational paths. How do I withdraw RESP funds in a way that’s fair to them and avoids unnecessary taxes? + MORE Sep 1st
Q. I have a registered education savings plan (RESP) for my three children, the youngest of whom is starting university this fall. We have made some withdrawals for the older two kids but the plan is still well-funded. Our middle child has decided to pursue a co-op university program, which is .... More »
Canadian Tire profit grows despite impact from weather, economy, fuel prices
– theglobeandmail.com
Toronto-based company had $241.5-million in fourth-quarter earnings, up about 17 per cent from $206.6-million a year earlier
CPPIB, partner invest $555-million in Florida retirement properties
– theglobeandmail.com
Investment board, Ohio-based Welltower to buy six housing properties
Applications for US jobless benefits fall to 3-month low
– canadianbusiness.com
WASHINGTON – The number of people seeking unemployment aid fell last week to the lowest level since November, evidence that stock market turmoil and slow growth overseas haven’t caused U.S. businesses to cut jobs.
THE NUMBERS: Weekly applications for jobless benefits fell 7,000 to a seasonally adjusted 262,000, the Labor Department said Thursday. The four-week average, a less volatile measure, dropped 8,000 to 273,250. The overall number of people receiving aid increased, to 2.26 million, from 2.25 million the previous week.
THE TAKEAWAY: Applications are a proxy for layoffs, so the low reading suggests that employers are confident enough in future growth to hold onto their workers, and possibly hire more.
A rise in applications last month fueled concerns about greater layoffs. Yet those job cuts likely occurred among temporary employees hired over the winter holidays, and have now faded.
BIG PICTURE: Other recent reports have shown that consumer spending and manufacturing grew last month, adding to evidence that the economy is still growing despite recession worries on Wall Street…
THE NUMBERS: Weekly applications for jobless benefits fell 7,000 to a seasonally adjusted 262,000, the Labor Department said Thursday. The four-week average, a less volatile measure, dropped 8,000 to 273,250. The overall number of people receiving aid increased, to 2.26 million, from 2.25 million the previous week.
THE TAKEAWAY: Applications are a proxy for layoffs, so the low reading suggests that employers are confident enough in future growth to hold onto their workers, and possibly hire more.
A rise in applications last month fueled concerns about greater layoffs. Yet those job cuts likely occurred among temporary employees hired over the winter holidays, and have now faded.
BIG PICTURE: Other recent reports have shown that consumer spending and manufacturing grew last month, adding to evidence that the economy is still growing despite recession worries on Wall Street…
TORONTO – The OECD has lowered its projections for Canadian, American and global economic growth over the next two years.
The Paris-based economics think-tank now estimates Canada’s economy will grow by 1.4 per cent in 2016, slightly more than the 1.2 per cent estimated for 2015 but less than the OECD’s previous estimate for this year of 2.0 per cent growth.
Canada’s economic growth is expected to pick up to 2.2 per cent in 2017, but that would be 0.1 per cent less than previously thought.
The OECD also expects U.S. economic growth over the next two years will be slower than the 2.4 per cent estimate for 2015.
The Organization for Economic Co-operation and Development also lowered its outlook for global economic growth to 3.0 per cent in 2017 and 3.3 per cent in 2017 _ a decrease of 0.3 for both years.
It points to recent weak data from major economies including the United States and Canada as well as financial instability that’s reflected in the fall of equity and bond prices worldwide…
The Paris-based economics think-tank now estimates Canada’s economy will grow by 1.4 per cent in 2016, slightly more than the 1.2 per cent estimated for 2015 but less than the OECD’s previous estimate for this year of 2.0 per cent growth.
Canada’s economic growth is expected to pick up to 2.2 per cent in 2017, but that would be 0.1 per cent less than previously thought.
The OECD also expects U.S. economic growth over the next two years will be slower than the 2.4 per cent estimate for 2015.
The Organization for Economic Co-operation and Development also lowered its outlook for global economic growth to 3.0 per cent in 2017 and 3.3 per cent in 2017 _ a decrease of 0.3 for both years.
It points to recent weak data from major economies including the United States and Canada as well as financial instability that’s reflected in the fall of equity and bond prices worldwide…
Melina Mara/The Washington Post/Getty ImagesWASHINGTON – Hillary Clinton isn’t yet the Democratic Party’s presidential nominee, but she’s already good for its bottom line.
The Democratic National Committee began the presidential election year almost $1 million in the hole – a bad situation that would have been even worse without the millions of dollars in fundraising that Clinton’s campaign sent its way.
That kind of assistance makes Clinton unique in the 2016 presidential field. No one else, Republican or Democrat, is raising money for his or her party at this early stage, including her Democratic rival, Sen. Bernie Sanders.
While that money would benefit Clinton should she capture the nomination, it comes with short-term complications. Already, Sanders allies have complained that the party favours her, pointing to the initial scarcity of debates as one example.
Clinton’s party fundraising fuels that argument, and reminds primary voters that she is part of the moneyed political establishment that Sanders frequently decries…
