How to merge your points into PC Optimum + MORE Feb 1st

TORONTO – Canada’s main stock index fell moderately in a largely broad-based decline, despite a strong rally in oil prices.
The S&P/TSX composite index was down 90.75 points to 15,860.92, with modest gains from the energy and base metals sectors among the few bright spots.
In New York, the Dow Jones industrial average advanced 37.32 points to 26,186.71. The S&P 500 index edged back 1.83 points to 2,821.98 and the Nasdaq composite index fell 25.62 points to 7,385.86.
The Canadian dollar closed at an average trading value of 81.38 cents US, up 0.03 of a U.S. cent.
In commodities, the March crude contract climbed US$1.07 cents to US$65.80 per barrel and the March natural gas contract fell 14 cents to US$2.86 per mmBTU.
The April gold contract was up US$4.80 to US$1,347.90 an ounce and the March copper contract added a cent to US$3.21 a pound.
The post Rising oil price fails to buoy TSX in broad based market decline appeared first on Canadian Business – Your Source For Business News.

Vanguard Investments Canada Inc. has announced the listing of three new low-cost Asset Allocation ETFs that give investors one-stop shopping to the firm’s globally diversified strategies. This is a significant move that not only creates a smart, low-fee, all-in-one portfolio but will also act as a challenge to the rise of so-called robo advisors.
In essence, the middle (Balanced) of the three Asset Allocation ETFs is the equivalent of the global balanced fund, which I’ve argued in the past should — in theory anyway — be the only investment fund you need. Similarly, while Vanguard’s ETFs are invariably components of the robo-adviser services out there (along with BlackRock iShares), any of these three new ETFs could serve as a one-size-fits all alternative to them. It also compares with Franklin Templeton’s Quotential.
The difference is that at 22 basis points and change, the three Vanguard products are quite a bit less costly: less than half what many robo services charge, which is typically about 50 basis points (half a per cent) plus the underlying ETF fees…

TFSAs win when it comes to flexibility. (Flickr)
Q. TFSA or RRSP, which one is more popular today—and why? – Phyllis D.
The RRSP marked its 50th-anniversary last year —but it looks like its Golden Age has already passed. While the RRSP still has more contributors than the TFSA, its lead is narrowing. According to StatsCan, the number of RRSP contributors aged 25 to 54, “declined by 16% from 2000 to 2013, from five million in 2000 to 4.2 million in 2013.”  The dollar amounts are on the decline as well. RRSP contributions hit $30 billion in 2000 but fell to $22.5 billion by 2013.
A part of that decline can be blamed on the Tax-Free Savings Account, which was introduced in 2009. StatsCan says there was a slight decline in RRSP use over the last few years and that, “coincided with an increase in the number of individuals who contributed to a TFSA, from 2 million in 2009 to 3 million in 2013.”
Why does the TFSA have a leg-up?  Flexibility is one thing. The RRSP was designed for retirement savings, while the TFSA works well as a place to save for retirement and anything else—a dream vacation, a new car, or a house down payment…

MONTREAL _ A Canadian industry leader in the fight against U.S. softwood lumber duties who is retiring imminently is urging the government not to “capitulate” during what he expects will be a lengthy battle with the United States.
“We believe in free trade,” Resolute Forest Products Inc. chief executive Richard Garneau said in an interview before he steps down Thursday afternoon.
“We believe in having strong principles and never capitulate, even though you believe that (if) there is someone a lot bigger and stronger you have to defend your principles.”
Garneau, 70, has been the strong voice of eastern Canadian lumber, pulp and paper producers.
“I was certainly not happy when in 2006 we had to pay a ransom,” he said of the last softwood lumber deal.
Garneau’s comments came as weak fourth-quarter results sent the Montreal-based company’s shares tumbling.
They were down more than 31 per cent to $9.68 in midday trading on the Toronto Stock Exchange…

PC Optimum is officially here. Your PC Plus and Shoppers Optimum can be united into one, handy account. The biggest question many have as this transition takes place is: what do you actually do to merge all your points? We walked through the process for you. (And if you’re reading this because you can’t get your Shoppers Optimum account to link, read on; there might be a way to avoid the hassle.)  Here are instructions on how to make the switch:
Step 1: Create your PC Optimum account
You have to register and create a brand new PC id. Fill in your personal details and create a new password.
You’ll be asked if you’ve picked up a new PC Optimum card yet (which you can do the next time you’re checking out from a Shoppers Drug Mart or a Loblaws-owned grocery store) and if you’ve ever had a PC Plus, Optimum or PC Financial card.
READ: 7 genius ways to maximize PC Optimum points
Step 2: Link your accounts

Then you can actually choose which account you’d like to link to your PC Optimum account…