TSX getting you down? There are always sound investment alternatives.
Latest News
Sprint, Bank of America and FedEx are big market movers + MORE Oct 3rd
NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
Sprint Corp. (S), up 20 cents to $4.25
The telecommunications and wireless company plans to cut jobs and $2.5 billion in costs, according to The Wall Stree.... More »
Caisse invests $125 million to take control of over budget Quebec cement project + MORE Aug 12th
MONTREAL – Quebec’s pension fund manager is taking over a cement plant under construction from the family that controls Bombardier after the project’s $1-billion budget was exceeded by more than $500 million.
Along with its own investment of $125 million in the plant, which is situ.... More »
Trudeau's comments on social housing funds make Nenshi 'very, very, very happy' - CBC.ca Jan 21st
CBC.caTrudeau's comments on social housing funds make Nenshi 'very, very, very happy'CBC.caNaheed Nenshi says he's pleased by a potentially "unprecedented investment" in social housing promised by the prime minister, as Canada's big city mayors met in Ottawa Friday.... More »
TSX little changed as energy shares fall, miners rise - Reuters Canada + MORE Mar 2nd
CTV NewsTSX little changed as energy shares fall, miners riseReuters CanadaTORONTO (Reuters) - Canada's main stock index was little changed on Monday as shares of energy producers weakened with the price of oil, offsetting a gain in the gold-mining sector. The Toronto Stock Exchange's S&am.... More »
5 things to know before the stock market opens Friday - CNBC Dec 16th
5 things to know before the stock market opens Friday CNBCAsia Stocks Set to Open Lower on Hawkish Policy: Markets Wrap BNN BloombergMarkets: Wall Street points lower CTV NewsAsian Stocks Join Global Retreat As Central Banks See Higher Rates Barron'sWeekly.... More »
Bob Nazarian, left. (Colin Perkel/CP)The Ontario real estate investor who owned Elliot Lake’s crumbling shopping mall when the roof collapsed—and who, more than two years later, remains the target of a criminal investigation—has agreed to disclose hundreds of pages of previously sealed evidence that should determine whether police finally lay charges or close the file.
As Maclean’s revealed last month, three search warrants executed by the Ontario Provincial Police (OPP) identify Asadoor “Bob” Nazarian as a prime suspect in the ongoing criminal probe of the Algo Centre cave-in, which killed two women and triggered a separate public inquiry that recently issued a scathing final report. The search warrants show that Nazarian, now 69, is being investigated for potential criminal negligence causing death for failing “to maintain the structural integrity” of the mall and for failing to “take sufficient steps to remedy known deficiencies” in the building’s notoriously leaky rooftop parking lot…
Leon’s reports 23% increase in Q3 profit; revenue, systemwide sales also up
– canadianbusiness.com
TORONTO – Leon’s Furniture Ltd (TSX:LNF) is reporting a 23 per cent increase in net income per share in the third quarter.
The Toronto-based operator and franchisor of furniture, electronics and appliance stores says net income was $27.3 million or 34 cents per diluted share in the three months ended Sept. 30, up from $21.8 million or 28 cents per diluted share in the comparable year earlier period. Leon’s said the earnings, which amounted to 38 cents per basic share, were a record for the quarter.
The company, whose banners include Leon’s and The Brick, said revenue rose to $531.7 million from $528.6 million.
System wide sales totalled $629.2 million, included $97.5 million franchise sales, versus $628.6 million, including $100 million of franchise sales, in 2013.
Same store sales were up one per cent compared with the prior year’s third quarter.
“Despite a difficult start in the first quarter of 2014, we are pleased by the increase in profits for the second and third quarter of 2014 versus the prior year,” the company said in its earnings release Thursday…
The Toronto-based operator and franchisor of furniture, electronics and appliance stores says net income was $27.3 million or 34 cents per diluted share in the three months ended Sept. 30, up from $21.8 million or 28 cents per diluted share in the comparable year earlier period. Leon’s said the earnings, which amounted to 38 cents per basic share, were a record for the quarter.
The company, whose banners include Leon’s and The Brick, said revenue rose to $531.7 million from $528.6 million.
System wide sales totalled $629.2 million, included $97.5 million franchise sales, versus $628.6 million, including $100 million of franchise sales, in 2013.
Same store sales were up one per cent compared with the prior year’s third quarter.
“Despite a difficult start in the first quarter of 2014, we are pleased by the increase in profits for the second and third quarter of 2014 versus the prior year,” the company said in its earnings release Thursday…
OTTAWA – The Bank of Canada says it’s weighing the possible benefits of issuing electronic money.
Senior deputy governor Carolyn Wilkins says the central bank is evaluating the merits of digital currencies like Bitcoin — even as it monitors e-money’s potential pitfalls.
In prepared remarks for her speech Thursday in Waterloo, Ont., Wilkins says people who use e-money need to be aware of the risks of putting their trust in a lightly regulated currency with limited or no user protection.
She says e-money ranges from options like PayPal and pre-paid credit cards to cryptocurrencies like Bitcoin — which are exchanged through computer transactions without the oversight of a central bank.
Wilkins says the increasingly popular digital currencies are not yet big enough to pose material risk to Canada’s financial stability as a whole — but she notes the Bank of Canada is watching.
She says the Bank of Canada has been working with the federal government to modernize Canada’s oversight of the payment method…
Senior deputy governor Carolyn Wilkins says the central bank is evaluating the merits of digital currencies like Bitcoin — even as it monitors e-money’s potential pitfalls.
In prepared remarks for her speech Thursday in Waterloo, Ont., Wilkins says people who use e-money need to be aware of the risks of putting their trust in a lightly regulated currency with limited or no user protection.
She says e-money ranges from options like PayPal and pre-paid credit cards to cryptocurrencies like Bitcoin — which are exchanged through computer transactions without the oversight of a central bank.
Wilkins says the increasingly popular digital currencies are not yet big enough to pose material risk to Canada’s financial stability as a whole — but she notes the Bank of Canada is watching.
She says the Bank of Canada has been working with the federal government to modernize Canada’s oversight of the payment method…
Feds say NY family claimed wealth to get mortgages, claimed poverty to get food stamps
– canadianbusiness.com
WHITE PLAINS, N.Y. – Twelve members of a single Brooklyn-based family were charged Thursday with lying about being wealthy to obtain mortgages or lying about being poor to get food stamps and other benefits.
Some did both, the indictment said.
“They alternately played the part of prince or pauper depending on which scam was being perpetrated,” U.S. Attorney Preet Bharara said at a news conference in the White Plains courthouse. “Regardless of whether they were posing as rich men or poor men, they were always con men.”
He said one indicted couple claimed monthly income of $25,000 when taking out a mortgage and $180 when applying for food stamps and Medicaid.
The fraudulently obtained mortgages totalled more than $20 million and the welfare fraud realized about $700,000 in benefits, the indictment said.
Yehuda Rubin, 29, of Monroe, was described in the indictment as “an organizer” of the scheme but Bharara would not say he was the leader. Rubin’s father, Irving Rubin, 58, of Brooklyn, is the lead defendant…
Some did both, the indictment said.
“They alternately played the part of prince or pauper depending on which scam was being perpetrated,” U.S. Attorney Preet Bharara said at a news conference in the White Plains courthouse. “Regardless of whether they were posing as rich men or poor men, they were always con men.”
He said one indicted couple claimed monthly income of $25,000 when taking out a mortgage and $180 when applying for food stamps and Medicaid.
The fraudulently obtained mortgages totalled more than $20 million and the welfare fraud realized about $700,000 in benefits, the indictment said.
Yehuda Rubin, 29, of Monroe, was described in the indictment as “an organizer” of the scheme but Bharara would not say he was the leader. Rubin’s father, Irving Rubin, 58, of Brooklyn, is the lead defendant…
Weekend Reading – Financial literacy, holiday budgets, debt and more
– myownadvisor.ca
Hello friends…in support of Financial Literacy Month #FLM2014 I thought I’d link to this article about name changes needed to some financial accounts.
As a fan of Daryl Diamond and his expertise and perspectives on retirement, I wrote about the Cash Wedge here and I also shared some retirement perspectives of my own.
Next week, stay tuned for a few articles including my latest dividend income update and with it a chance to win a FREE 1-year online subscription to Canadian MoneySaver thanks to my partnership with them.
Enjoy these articles and see you back here next week.
Here are some smart ways to stretch your holiday budget.
Young & Thrifty told us how home equity lines of credit actually work, they remind you it is still debt.
Brian So informed us about some insurance coverage at different life stages.
Michael James on Money told us why some indexers don’t use dividend ETFs.
Million Dollar Journey compared gas rewards programs.
Canadian Finance Blog included this post from Sean Cooper, how to reach financial independence in your 30s…
As a fan of Daryl Diamond and his expertise and perspectives on retirement, I wrote about the Cash Wedge here and I also shared some retirement perspectives of my own.
Next week, stay tuned for a few articles including my latest dividend income update and with it a chance to win a FREE 1-year online subscription to Canadian MoneySaver thanks to my partnership with them.
Enjoy these articles and see you back here next week.
Here are some smart ways to stretch your holiday budget.
Young & Thrifty told us how home equity lines of credit actually work, they remind you it is still debt.
Brian So informed us about some insurance coverage at different life stages.
Michael James on Money told us why some indexers don’t use dividend ETFs.
Million Dollar Journey compared gas rewards programs.
Canadian Finance Blog included this post from Sean Cooper, how to reach financial independence in your 30s…
