Finding the financial balance in skin care routines + MORE Jul 11th

Microsoft Can Close Its $75 Billion Buy of Activision Blizzard, Judge Rules  The Wall Street JournalMicrosoft can move ahead with record $69 billion acquisition of Activision Blizzard, judge rules  CP24Judge says Microsoft-Activision deal can proceed, Activision Blizzard stock soars 11%  Yahoo Canada FinanceMicrosoft acquisition of Activision Blizzard can proceed  CTV NewsMicrosoft wins U.S. court case over Activision Blizzard acquisition  MobileSyrupView Full Coverage on Google News

Canadians have long embraced digital transactions. We make purchases, pay bills and transfer money to people around the world with the tap of a card or the click of a button—every single day. We do all of this using regular, government-backed Canadian dollars.

Yet the Bank of Canada (BoC) is actively researching the idea of a central bank digital currency (CBDC) in Canada. Though it does not see an immediate need for a Canadian CBDC, the BoC is preparing for the possibility that cash may one day fall out of use entirely. It’s not alone—central banks in many other countries are also pondering a digital currency.

The launch of a Canadian CBDC (an unfortunate acronym that doesn’t do a digital loonie justice) would have wide-ranging implications for the Canadian banking system and Canadians’ access to legal tender. For insight on what to expect from a digital loonie, we asked five money experts with different financial specialties to share their perspectives. You can read their responses below…

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The 8 best credit cards for groceries for July 2023
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CardDetailsBest cash back cardScotia Momentum Visa Infinite*• 4% cash back on groceriesBest no-fee cash back cardBMO CashBack Mastercard*• No annual fee• 3% cash back on groceries, up to $500 per monthBest groceries and gas card (tie)CIBC Dividend Visa Infinite • 4% cash back on groceries and gasBest groceries and gas card (tie)Meridian Visa Infinite Cash Back Card• 4% cash back on groceries and gasBest card for shopping at Loblaw banner storesPC Financial World Elite Mastercard* • No annual fee• 30 PC points per $1 at stores under the Loblaw umbrellaBest points cardAmerican Express Cobalt* • 5 points per $1 on groceriesBest points card (runner up)Scotiabank Gold American Express*• 6 Scene+ per $1 spent at stores under the Sobeys umbrella • 5 points per $1 on food subscriptions and purchases at other eligible grocery stores

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Markets are surging. The S&P 500 is up approximately 15% year-to-date, and the Nasdaq is up approximately 30%, as of early July 2023. All this is happening while forecasters warn about a 2023 recession, rising interest rates and persistent inflation. Why are these stock indices doing well? The tech turnaround, and specifically the huge gains of the world’s largest companies, which account for more than 50% of the markets’ returns. And many analysts, even in Canada, point to the Magnificent Seven.

Who are the Magnificent Seven?

Not to be confused with the western movie of the same name, the Magnificent Seven include Apple, Alphabet (formerly Google), Amazon, Meta (formerly Facebook), Nvidia and Tesla (an automaker widely acknowledged as more tech stock than car company).

Thankfully, and easier to remember, the Magnificent Seven are making waves. For the first six months of 2023, this group of stocks powered the S&P 500 and Nasdaq indices to significantly higher returns, wiping out much of the losses of 2022…