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Wednesday will be a big day for Canadian retailers. Here's what to expect + MORE Dec 5th
A big day for Canadian retailer earnings looms ahead with Hudson’s Bay, Dollarama,
Lululemon and Roots all set to report
.... More »
Why do rich people invest in real estate? + MORE Apr 8th
(mstay/Getty Images)
Q: Why do rich people invest in real estate? Housing prices are at an all-time high in Canada. It just seems so counter-intuitive!
— Confused about real estate investing, Toronto
Answer from Romana King, senior editor and real estate specialist at MoneySense: Over half a .... More »
Starbucks workers in Buffalo, N.Y., vote to unionize, a 1st for the company in U.S. - CBC News Dec 9th
Starbucks workers in Buffalo, N.Y., vote to unionize, a 1st for the company in U.S. CBC NewsIn a first, Starbucks workers agree to union in Buffalo, NY - Business News Castanet.netStarbucks baristas are so burned out from mobile app orders that it's sparked a union drive &.... More »
Fixed-income trading buoys National Bank’s capital-markets results + MORE Jun 1st
‘We can’t complain, but the quarter is still very young,’ head of financial markets at institution says
.... More »
TSX weighed down by resource stocks, loonie remains above 82 cents US + MORE Sep 9th
TORONTO _ Canada’s main stock index is moderately lower this morning, weighed down by resource stocks.
The Toronto Stock Exchange’s S&P/TSX composite index declined 41.52 points to 14,983.01, after 90 minutes of trading.
In New York, the Dow Jones industrial average climbed 46.53 poi.... More »
Fed keeps interest rate steady but hints at hike to come – CBC.ca
– news.google.ca
CBC.caFed keeps interest rate steady but hints at hike to comeCBC.caThe U.S. economy has strengthened since a slump early this year, the Federal Reserve said Wednesday, but it wants to see further gains in the job market and higher inflation before raising interest rates from record lows. The Fed gave no timetable for a rate …Falling Fed ForecastWall Street JournalFederal Reserve: Rate hike likely before year-endWashington Post (blog)US economy strengthening, but Fed seeking more growth before hiking ratesThe Globe and Mail (subscription)Reuters -The Australian Financial Reviewall 2,248 news articles »
Goldman Sachs Group Inc has told its summer investment banking interns not to stay in the office overnight in a bid to improve working conditions for its junior staff.
Canadians missing out on billions in retirement savings
– moneysense.ca
(Nash Photos/Getty Images)Canadians are missing out on billions of dollars of potential retirement savings every year by not taking full advantage of matching contributions by their employers in group RRSP and defined contribution retirement plans.
Tom Reid of Sun Life Financial estimates more than $3 billion a year of potential company contributions go unmade because employees don’t make the required matching contributions to obtain them.
“That accumulates into a big number in a very short amount of time,” said Reid, senior vice-president of group retirement services at the insurance company.
In a group registered retirement savings plan or DC pension plan, employees and their sponsoring company each make contributions. The amounts vary from plan to plan, with some mandatory and others voluntary.
Reid said it’s “kind of critical” to find a way to get people to contribute the maximum allowed by their plans.
“Where are you going to get a better return?” Reid asks.
“If your company is willing to match dollar for dollar or 50 cents on the dollar for the contributions you put in, you should put in as much as they let you…
The stock market loves HBC’s purchase of Germany’s leading department store chain Galeria Kaufhof. But will shoppers — here and there — buy in?
Ernst & Young quits as auditor for MagIndustries, TSX may delist company’s stock
– canadianbusiness.com
TORONTO – MagIndustries Corp. (TSX:MAA) says its external auditing firm has resigned, saying it was unable to complete its audit of the company’s 2014 financial statements in accordance with professional standards.
Ernst & Young’s resignation was effective Tuesday, the day MagIndustries announced that an internal investigation had found evidence that “black money” payments totalling several thousand dollars were paid by its subsidiaries to Congolese officials.
MagIndustries also said Tuesday that the special committee of directors that had been overseeing the board’s investigation has been dissolved due to a lack of funding and four of its directors including all members of the committee have resigned.
In addition to announcing the auditor’s resignation, MagIndustries said Wednesday that the Toronto Stock Exchange has given the company until July 17 to meet all requirements for a listing. Failure to comply could result in delisting 30 days later…
Ernst & Young’s resignation was effective Tuesday, the day MagIndustries announced that an internal investigation had found evidence that “black money” payments totalling several thousand dollars were paid by its subsidiaries to Congolese officials.
MagIndustries also said Tuesday that the special committee of directors that had been overseeing the board’s investigation has been dissolved due to a lack of funding and four of its directors including all members of the committee have resigned.
In addition to announcing the auditor’s resignation, MagIndustries said Wednesday that the Toronto Stock Exchange has given the company until July 17 to meet all requirements for a listing. Failure to comply could result in delisting 30 days later…
