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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The best high-interest savings accounts in Canada for 2026 + MORE May 11th
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The best credit cards in Canada for 2023 Oct 25th
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Capital gains when selling property to family + MORE Mar 18th
Do I have to pay income tax if I inherited a property jointly with my sister and she bought me out for less than half the appraised value of the property?
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family leve.... More »
Trudeau says federal officials in talks with CFL about $150M request - CBC.ca Apr 29th
Trudeau says federal officials in talks with CFL about $150M request CBC.caCFL asking government for up to $150 million in financial aid CTV NewsCFL asking government for up to $150M in financial aid TSNCFL asks federal government for $150 million to help cope with s.... More »
4 Cost-Effective Ways to Boost Employee Productivity + MORE Apr 23rd
Few business leaders have access to the capital they need to carry out all of their plans or strategies. Often, leaders have to make tough decisions regarding their resources and their budget. This means that anything a business leader can do to complete a project without breaking the bank can be in.... More »
Sears defined pension plan ‘slap’ a reminder that savings should be diversified
– canadianbusiness.com
CALGARY _ Sue Earl, a 38-year Sears Canada employee, was shocked when she found out she would only initially receive 81 per cent of the value of her pension as part of the company’s insolvency process.
The 64-year-old from Cobourg, Ont., had assumed her defined-benefit pension was “money in the bank,” a guaranteed amount she’d receive in retirement regardless of the financial health of the failing retailer.
But then, she also didn’t think Sears would cancel the severance payments she’d been receiving since her store was closed last year _ that’s what happened after it filed for court protection from creditors in June.
She said the other 19 per cent of her defined-benefit pension is “up in the air.”
“Our letter said it would be paid out to us in the next five years, but that depends what they do with it, whether they wind it up or what’s going to happen,” Earl said.
“It’s just one more slap, really. You lose your severance and then you find out you might not get all of your pension money…
The 64-year-old from Cobourg, Ont., had assumed her defined-benefit pension was “money in the bank,” a guaranteed amount she’d receive in retirement regardless of the financial health of the failing retailer.
But then, she also didn’t think Sears would cancel the severance payments she’d been receiving since her store was closed last year _ that’s what happened after it filed for court protection from creditors in June.
She said the other 19 per cent of her defined-benefit pension is “up in the air.”
“Our letter said it would be paid out to us in the next five years, but that depends what they do with it, whether they wind it up or what’s going to happen,” Earl said.
“It’s just one more slap, really. You lose your severance and then you find out you might not get all of your pension money…
Empire shares hit 18 month high after Q1 results beat expectations
– canadianbusiness.com
MONTREAL _ Shares of Sobeys owner Empire Co. Ltd. hit their highest level in 18 months on Thursday after the country’s second-largest grocery retailer beat expectations and signalled a positive turn in Western Canada after its disastrous takeover of Safeway.
The Halifax-based company’s shares hit $22.75 in early trading on the Toronto Stock Exchange. They were at $22.45 later in the session, up $2.70 or nearly 14 per cent.
Chief executive Michael Medline said the chain’s first positive same-store sales in six quarters and small gains in market share are a sign that the company’s efforts have begin to bear fruit.
“You won’t be hearing any champagne corks popping over here,” he told analysts during a conference call. “We still have significant work to do in all facets of our business.”
Still, he said the performance in western provinces has “come off the bottom” with an improved store experience and promotions.
“Many customers lost trust in our brand and now we have to earn that back,” said Medline, a former Canadian Tire CEO who took the helm of Empire eight months ago…
The Halifax-based company’s shares hit $22.75 in early trading on the Toronto Stock Exchange. They were at $22.45 later in the session, up $2.70 or nearly 14 per cent.
Chief executive Michael Medline said the chain’s first positive same-store sales in six quarters and small gains in market share are a sign that the company’s efforts have begin to bear fruit.
“You won’t be hearing any champagne corks popping over here,” he told analysts during a conference call. “We still have significant work to do in all facets of our business.”
Still, he said the performance in western provinces has “come off the bottom” with an improved store experience and promotions.
“Many customers lost trust in our brand and now we have to earn that back,” said Medline, a former Canadian Tire CEO who took the helm of Empire eight months ago…
Energy stocks help S&P/TSX composite gain ground, price of oil higher
– canadianbusiness.com
TORONTO _ Canada’s main stock index climbed higher, helped by the energy sector, which benefited from a higher price for oil.
Toronto’s S&P/TSX composite index was up 45.91 points to 15,172.72.
In New York, the Dow Jones industrial average advanced 45.30 points to 22,203.48, the S&P 500 index was down 2.75 points to 2,495.62 and the Nasdaq composite index declined 31.11 points to 6,429.08.
The Canadian dollar was trading at an average price of 81.98 cents US, down 0.07 of a U.S. cent.
In commodities, the October crude contract was up 59 cents to US$49.89 per barrel and the October natural gas contract added one cent to US$3.07 per mmBTU.
The December gold contract climbed $1.30 at US$1,329.30 an ounce and the December copper contract was down two cents to US$2.96 a pound.
The post Energy stocks help S&P/TSX composite gain ground, price of oil higher appeared first on Canadian Business – Your Source For Business News.
Toronto’s S&P/TSX composite index was up 45.91 points to 15,172.72.
In New York, the Dow Jones industrial average advanced 45.30 points to 22,203.48, the S&P 500 index was down 2.75 points to 2,495.62 and the Nasdaq composite index declined 31.11 points to 6,429.08.
The Canadian dollar was trading at an average price of 81.98 cents US, down 0.07 of a U.S. cent.
In commodities, the October crude contract was up 59 cents to US$49.89 per barrel and the October natural gas contract added one cent to US$3.07 per mmBTU.
The December gold contract climbed $1.30 at US$1,329.30 an ounce and the December copper contract was down two cents to US$2.96 a pound.
The post Energy stocks help S&P/TSX composite gain ground, price of oil higher appeared first on Canadian Business – Your Source For Business News.
What the Sears DB pension uncertainty teaches us
– moneysense.ca
CALGARY — Sue Earl, a 38-year Sears Canada employee, was shocked when she found out she would only initially receive 81 per cent of the value of her pension as part of the company’s insolvency process.
The 64-year-old from Cobourg, Ont., had assumed her defined-benefit pension was “money in the bank,” a guaranteed amount she’d receive in retirement regardless of the financial health of the failing retailer.
But then, she also didn’t think Sears would cancel the severance payments she’d been receiving since her store was closed last year — that’s what happened after it filed for court protection from creditors in June.
READ: Should you do a pension buyback?
She said the other 19 per cent of her defined-benefit pension is “up in the air.”
“Our letter said it would be paid out to us in the next five years, but that depends what they do with it, whether they wind it up or what’s going to happen,” Earl said.
“It’s just one more slap, really…
The 64-year-old from Cobourg, Ont., had assumed her defined-benefit pension was “money in the bank,” a guaranteed amount she’d receive in retirement regardless of the financial health of the failing retailer.
But then, she also didn’t think Sears would cancel the severance payments she’d been receiving since her store was closed last year — that’s what happened after it filed for court protection from creditors in June.
READ: Should you do a pension buyback?
She said the other 19 per cent of her defined-benefit pension is “up in the air.”
“Our letter said it would be paid out to us in the next five years, but that depends what they do with it, whether they wind it up or what’s going to happen,” Earl said.
“It’s just one more slap, really…
Canadian retailer Roots files for IPO, plans to list on TSX under ROOT
– canadianbusiness.com
TORONTO _ Canadian fashion retailer Roots Corp. is launching an initial public offering of its shares.
The company has applied to list on the Toronto Stock Exchange under the symbol ROOT.
“We view our heritage and our guiding principles as the foundation of our business,” the company said in its preliminary prospectus.
“Our brand is supported by first-rate operations and is well-diversified across product categories, seasons, channels and geographies.”
The retailer was established in 1973 by founders Michael Budman and Don Green.
The pair sold a majority stake in the company to private investment firm Searchlight Capital Partners in 2015, but remained substantial shareholders.
The price and the number of shares being sold by Searchlight, Budman and Green was not immediately disclosed.
The company has more than 100 stores in Canada as well as four in the United States, partner-operated locations in Taiwan and China and an online retail business.
In its filing with securities regulators, Roots said it wants to continue its grow in Canada as well as the United States and in international markets…
The company has applied to list on the Toronto Stock Exchange under the symbol ROOT.
“We view our heritage and our guiding principles as the foundation of our business,” the company said in its preliminary prospectus.
“Our brand is supported by first-rate operations and is well-diversified across product categories, seasons, channels and geographies.”
The retailer was established in 1973 by founders Michael Budman and Don Green.
The pair sold a majority stake in the company to private investment firm Searchlight Capital Partners in 2015, but remained substantial shareholders.
The price and the number of shares being sold by Searchlight, Budman and Green was not immediately disclosed.
The company has more than 100 stores in Canada as well as four in the United States, partner-operated locations in Taiwan and China and an online retail business.
In its filing with securities regulators, Roots said it wants to continue its grow in Canada as well as the United States and in international markets…
