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Is VFV a good buy? What about other U.S. ETFs with even lower fees? Sep 4th
With an average management expense ratio (MER) of 0.09% and collective assets under management (AUM) approaching $40 billion, exchange-traded funds like the Vanguard S&P 500 Index ETF (VFV), the BMO S&P 500 Index ETF (ZSP) and the iShares Core S&P 500 Index ETF (XUS) are some of the most.... More »
Buying pre-construction: What if your home is worth less than you paid? + MORE Jan 26th
Many Canadians bought pre-construction homes and condos at the height of the real estate market, as ultra-low interest rates fuelled a steady climb in Canadian real estate prices. Now some of those buyers are walking away from their purchases, unable to close on properties worth less than they paid .... More »
The best high-interest savings accounts in Canada for 2024 + MORE Jun 17th
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Big banks defend their records to MPs amid allegations of questionable practices + MORE Jun 12th
Federal MPs are hearing from Canada’s big banks as a parliamentary committee explores allegations of questionable sales practices at major financial institutions.
The committee launched the hearings following media reports citing unnamed employees at some banks who allege they were pressured t.... More »
Complacency, competition, and Canada’s productivity crisis + MORE Oct 10th
A senior official at the Bank of Canada is calling for more competition in the banking sector to better serve Canadians and the economy. Senior deputy governor Carolyn Rogers laid out her case for a more competitive Canada in a speech at the Canadian Club in Toronto on Thursday morning. Rogers sound.... More »
Oil-rich Saudi Arabia’s sovereign investment fund is putting $3.5 billion US into the global transportation company, and will get a seat on Uber’s board of directors.
North American stock markets hover near the break-even point in morning trading
– canadianbusiness.com
TORONTO – North American stock markets were hovering near the break-even point in late morning trading today.
The Toronto Stock Exchange’s S&P/TSX index was up 18.25 points at 14,081.79 as its American counterparts traded in the red.
The Dow Jones industrial average was down 23.53 points at 17,766.14, the broader S&P 500 composite index declined 3.67 points to 2,095.66 and the Nasdaq composite slipped 3.11 points to 4,949.14.
The Canadian dollar was at 76.38 cents US, down 0.15 of a cent from Wednesday’s close.
The July crude contract was down 41 cents at US$48.60 per barrel and July natural gas was up 1.4 cents at nearly US$2.40 per mmBTU.
The August gold contract fell $1.80 to US$1,212.90 an ounce and July copper contracts fell 6.5 cents to US$2.07 a pound.
The post North American stock markets hover near the break-even point in morning trading appeared first on Canadian Business – Your Source For Business News.
The Toronto Stock Exchange’s S&P/TSX index was up 18.25 points at 14,081.79 as its American counterparts traded in the red.
The Dow Jones industrial average was down 23.53 points at 17,766.14, the broader S&P 500 composite index declined 3.67 points to 2,095.66 and the Nasdaq composite slipped 3.11 points to 4,949.14.
The Canadian dollar was at 76.38 cents US, down 0.15 of a cent from Wednesday’s close.
The July crude contract was down 41 cents at US$48.60 per barrel and July natural gas was up 1.4 cents at nearly US$2.40 per mmBTU.
The August gold contract fell $1.80 to US$1,212.90 an ounce and July copper contracts fell 6.5 cents to US$2.07 a pound.
The post North American stock markets hover near the break-even point in morning trading appeared first on Canadian Business – Your Source For Business News.
BMW races into trouble with UAE national anthem ad
– canadianbusiness.com
DUBAI, United Arab Emirates – The BMW distributor in the capital of the United Arab Emirates has pulled a television commercial featuring the country’s national anthem off the air after it sparked outrage from some citizens.
Abu Dhabi Motors general manger Arno Husselmann said in a letter Thursday that the ad wasn’t meant to cause offence and that he’s disappointed over the controversy it caused.
State-owned newspaper The National reported that the ad showed players from the Al Ain soccer team rushing out of the stadium and into BMWs midway through the national anthem after hearing engines revving outside.
Some Emiratis found the ad disrespectful. The vice chairman of the Abu Dhabi Executive Council, Shaikh Hazza bin Zayed Al Nahyan, has dissolved the team’s and a related investment company’s board of directors in response.
The post BMW races into trouble with UAE national anthem ad appeared first on Canadian Business – Your Source For Business News.
Abu Dhabi Motors general manger Arno Husselmann said in a letter Thursday that the ad wasn’t meant to cause offence and that he’s disappointed over the controversy it caused.
State-owned newspaper The National reported that the ad showed players from the Al Ain soccer team rushing out of the stadium and into BMWs midway through the national anthem after hearing engines revving outside.
Some Emiratis found the ad disrespectful. The vice chairman of the Abu Dhabi Executive Council, Shaikh Hazza bin Zayed Al Nahyan, has dissolved the team’s and a related investment company’s board of directors in response.
The post BMW races into trouble with UAE national anthem ad appeared first on Canadian Business – Your Source For Business News.
Finding the right cover
– moneysense.ca
(Illustration by Taryn Gee)When finance professor Moshe Milevsky teaches insurance to a new group of students, he shows the class a picture of two people, a 30-year-old and a 70-year-old, then asks: “Who needs more life insurance?” The near-term chance of dying is higher for the 70-year-old so, without fail, most students point to the senior.
Which is the wrong answer. The need for life insurance is based on the probability of a dire financial event, but “it’s the small probability that creates the need for insurance, not the high probability,” says Milevsky, who teaches at York University’s Schulich School of Business. As you can see, insurance principles can be somewhat counter-intuitive. That means it’s easy to misunderstand where insurance makes sense and where it doesn’t. As a result, you should think through your insurance needs carefully and critically. That’s especially important at retirement, where other types of insurance needs change significantly. In what follows, we’ll review key insurance products (excluding basic products such as home, auto and travel insurance) and gauge their appropriateness in retirement…
How does a mortgage inside an RRSP work?
– moneysense.ca
Q: Is it possible to arrange a mortgage inside my RRSP, so the interest payments are paid back to me?
A: I love the question, but recommend you pursue a less risky hobby. Say, axe throwing or BASE jumping? Setting up your mortgage inside an RRSP requires a lot of work with low return, says Joe Jacobs of Mortgage Connections in Calgary. He points out that “a self-funded mortgage through an RRSP has to be insured by Canada Mortgage and Housing Corp. the plan administrator will also charge set-up and ongoing fees.” You’ll also need to charge commercial interest rates on the mortgage, so the return on your self-funded mortgage will be limited to 3% or 4%. Compare this to what you could earn over the long haul if your RRSP funds were invested in equities and you’re not much further ahead. Now, if you’re interested in reducing your non-deductible debt you could focus on paying down your mortgage. Or you could try using the Smith Manoeuvre, a method of making your mortgage debt a deductible investment loan…
A: I love the question, but recommend you pursue a less risky hobby. Say, axe throwing or BASE jumping? Setting up your mortgage inside an RRSP requires a lot of work with low return, says Joe Jacobs of Mortgage Connections in Calgary. He points out that “a self-funded mortgage through an RRSP has to be insured by Canada Mortgage and Housing Corp. the plan administrator will also charge set-up and ongoing fees.” You’ll also need to charge commercial interest rates on the mortgage, so the return on your self-funded mortgage will be limited to 3% or 4%. Compare this to what you could earn over the long haul if your RRSP funds were invested in equities and you’re not much further ahead. Now, if you’re interested in reducing your non-deductible debt you could focus on paying down your mortgage. Or you could try using the Smith Manoeuvre, a method of making your mortgage debt a deductible investment loan…
