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90 days - 1.75% + MORE Jan 22nd
This GIC rate is offered by Oaken Financial and was updated on 2014-12-19. Click on the link above to get more details or apply online..... More »
Housing market to slow in 2018 but prices to rise + MORE Dec 13th
TORONTO — New stricter mortgage rules are expected to slow the housing market next year, but prices are still expected to rise about five per cent, according to a report by Royal LePage.
In its market survey forecast, the real estate firm says its house price composite, which measures prices in 53.... More »
Banks expected to highlight cost containment as they report earnings Nov 29th
TORONTO – Grappling with a perfect storm of economic and operating challenges, Canada’s biggest banks are expected to emphasize their efforts to rein in costs as they report their fourth-quarter earnings this week.
“They need a catalyst to grow earnings, and increasingly I think th.... More »
Making sense of the markets this week: January 1, 2023 + MORE Dec 30th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines of the week and offers context for Canadian investors.
Before looking ahead to 2023, I just want to give a big “Thank you” to writer Dale Roberts and our editorial team, inc.... More »
Convenience or comparison? Why sticking with 1 bank might not be the best option + MORE Mar 26th
Consumers love the convenience of one-stop shopping for their financial needs — but it could be costing them..... More »
Business Highlights
– canadianbusiness.com
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How well did the Fed’s stimulus work?
NEW YORK (AP) — Soaring inflation. A collapsing dollar. Bubbles in financial markets that would soon pop. One presidential candidate even suggested that the Federal Reserve chairman should be roughed up.
Over the past five years, as the Fed has pumped ever-more money into the financial system, critics have warned that it would lead to all kinds of disasters. Yet the central bank kept extending its bond-buying program, known by the wonky name of quantitative easing, or QE. It was an unprecedented effort aimed at lowering borrowing costs, encouraging spending and reviving a dormant economy before it could slip back into recession.
Now, $4 trillion later, QE is drawing to a close, so the question is: Did it work?
Economists have plenty of quibbles, but many agree that the Fed accomplished the bulk of its goals.
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Electric-car drivers trading gas for solar power
DETROIT (AP) — Owners of electric vehicles have already gone gas-free. Now, a growing number are powering their cars with sunlight…
How well did the Fed’s stimulus work?
NEW YORK (AP) — Soaring inflation. A collapsing dollar. Bubbles in financial markets that would soon pop. One presidential candidate even suggested that the Federal Reserve chairman should be roughed up.
Over the past five years, as the Fed has pumped ever-more money into the financial system, critics have warned that it would lead to all kinds of disasters. Yet the central bank kept extending its bond-buying program, known by the wonky name of quantitative easing, or QE. It was an unprecedented effort aimed at lowering borrowing costs, encouraging spending and reviving a dormant economy before it could slip back into recession.
Now, $4 trillion later, QE is drawing to a close, so the question is: Did it work?
Economists have plenty of quibbles, but many agree that the Fed accomplished the bulk of its goals.
___
Electric-car drivers trading gas for solar power
DETROIT (AP) — Owners of electric vehicles have already gone gas-free. Now, a growing number are powering their cars with sunlight…
How the Dow Jones industrial average and other major averages did Tuesday
– canadianbusiness.com
Strong corporate earnings pushed up stocks across industries on Tuesday, with the energy sector and small companies leading the gains.
The Dow Jones industrial average rose 187.81 points, or 1.1 per cent, to 17,005.75.
The S&P 500 rose 23.42 points, or 1.2 per cent, to 1,985.05.
The Nasdaq composite climbed 78.36 points, or 1.8 per cent, to 4,564.29.
For the week:
The Dow is up 200.34 points, or 1.2 per cent.
The S&P 500 index is up 20.47 points, or 1 per cent.
The Nasdaq is up 80.58 points, or 1.8 per cent.
For the year:
The Dow is up 429.09 points, or 2.6 per cent.
The S&P 500 index is up 136.69 points, or 7.4 per cent.
The Nasdaq is up 387.70 points, or 9.3 per cent.
The post How the Dow Jones industrial average and other major averages did Tuesday appeared first on Canadian Business.
The Dow Jones industrial average rose 187.81 points, or 1.1 per cent, to 17,005.75.
The S&P 500 rose 23.42 points, or 1.2 per cent, to 1,985.05.
The Nasdaq composite climbed 78.36 points, or 1.8 per cent, to 4,564.29.
For the week:
The Dow is up 200.34 points, or 1.2 per cent.
The S&P 500 index is up 20.47 points, or 1 per cent.
The Nasdaq is up 80.58 points, or 1.8 per cent.
For the year:
The Dow is up 429.09 points, or 2.6 per cent.
The S&P 500 index is up 136.69 points, or 7.4 per cent.
The Nasdaq is up 387.70 points, or 9.3 per cent.
The post How the Dow Jones industrial average and other major averages did Tuesday appeared first on Canadian Business.
Wynn 3Q profit up 5 per cent on lower costs, Macau drives revenue down 1.4 per cent
– canadianbusiness.com
LAS VEGAS, Nev. – Las Vegas was good to Wynn Resorts Ltd. in the third quarter but not enough to make up for a stormy three months in Macau.
Wynn reported Tuesday that the company’s revenue dropped 1.4 per cent to $1.37 billion in the quarter as gains in Vegas were offset by a decline in Macau, its biggest market.
The company’s net income rose about 5 per cent on lower expenses to $191.4 million or $1.88 per diluted share, and adjusted earnings per share of $1.95 met Street expectations, according to a survey by FactSet.
The casino-resort’s founder and CEO Steve Wynn told analysts that he didn’t know if they were in the metaphorical “squall or the rainy season” in Macau, or how long it would pose a challenge, but the company remained bullish on the region.
Still, Wynn noted that the situation has been worse in October than before.
A majority of Wynn Resorts revenue — $942 million in the third quarter — comes from Macau.
Operating revenue there dropped 5…
Wynn reported Tuesday that the company’s revenue dropped 1.4 per cent to $1.37 billion in the quarter as gains in Vegas were offset by a decline in Macau, its biggest market.
The company’s net income rose about 5 per cent on lower expenses to $191.4 million or $1.88 per diluted share, and adjusted earnings per share of $1.95 met Street expectations, according to a survey by FactSet.
The casino-resort’s founder and CEO Steve Wynn told analysts that he didn’t know if they were in the metaphorical “squall or the rainy season” in Macau, or how long it would pose a challenge, but the company remained bullish on the region.
Still, Wynn noted that the situation has been worse in October than before.
A majority of Wynn Resorts revenue — $942 million in the third quarter — comes from Macau.
Operating revenue there dropped 5…
Most actively traded companies on the TSX
– canadianbusiness.com
TORONTO – Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,624.25, up 155.25 points):
U3O8 Corp. (TSX:UWE). Miner. Down one cent, or 25 per cent, to three cents on 15.6 million shares.
B2Gold Corp. (TSX:BTO). Miner. Down 16 cents, or 7.05 per cent, to $2.11 on 11.9 million shares.
Romarco Minerals Inc. (TSX:R). Miner. Down four cents, or 5.26 per cent, to 72 cents on 8.8 million shares.
Delphi Energy Corp. (TSX:DEE). Oil and gas. Up seven cents, or 3.24 per cent, to $2.23 on 6.2 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up one cent, or 0.26 per cent, to $3.90 on 5.2 million shares.
Athabasca Oil Corp. (TSX:ATH). Oil and gas. Down five cents, or 1.28 per cent, to $3.86 on 3.4 million shares.
Companies reporting major news:
InnVest Real Estate Investment Trust (TSX:INN.UN). REIT. Up five cents, or one per cent, to $5.03 on 42,156 shares. InnVest is paying $37.3 million for a 20 per cent stake in the Toronto’s landmark Royal York Hotel with joint venture partners KingSett (60 per cent) and Ivanhoe Cambridge, the real estate subsidiary of the Caisse de depot, which is retaining a 20 per cent interest…
Toronto Stock Exchange (14,624.25, up 155.25 points):
U3O8 Corp. (TSX:UWE). Miner. Down one cent, or 25 per cent, to three cents on 15.6 million shares.
B2Gold Corp. (TSX:BTO). Miner. Down 16 cents, or 7.05 per cent, to $2.11 on 11.9 million shares.
Romarco Minerals Inc. (TSX:R). Miner. Down four cents, or 5.26 per cent, to 72 cents on 8.8 million shares.
Delphi Energy Corp. (TSX:DEE). Oil and gas. Up seven cents, or 3.24 per cent, to $2.23 on 6.2 million shares.
Bombardier Inc. (TSX:BBD.B). Aerospace. Up one cent, or 0.26 per cent, to $3.90 on 5.2 million shares.
Athabasca Oil Corp. (TSX:ATH). Oil and gas. Down five cents, or 1.28 per cent, to $3.86 on 3.4 million shares.
Companies reporting major news:
InnVest Real Estate Investment Trust (TSX:INN.UN). REIT. Up five cents, or one per cent, to $5.03 on 42,156 shares. InnVest is paying $37.3 million for a 20 per cent stake in the Toronto’s landmark Royal York Hotel with joint venture partners KingSett (60 per cent) and Ivanhoe Cambridge, the real estate subsidiary of the Caisse de depot, which is retaining a 20 per cent interest…
Great Questions and Answers from Wealthsimple
– myownadvisor.ca
After readers learned about Wealthsimple from this article more questions followed. In fact, one reader in particular reached out to Wealthsimple to get more details about how much this service might cost him and how many benefits this service may provide. Thanks to that reader, Sebastien, here are some questions and answers about Wealthsimple services and how you might benefit from them as well.
On the subject of “balancing” assets across investment accounts
Our reader was curious if Wealthsimple might treat all accounts an investor has as “one big portfolio”, and in doing so, investors could “balance” assets across various investment accounts (i.e., between RRSP, TFSA and non-registered accounts). (You can read more about asset location strategies I use here as an example from my site.)
Our reader confirmed with Wealthsimple that cross-account balancing is planned for the future but resources and the software interface to support investment selections, balances and advice are where resources are dedicated in the short-term…
On the subject of “balancing” assets across investment accounts
Our reader was curious if Wealthsimple might treat all accounts an investor has as “one big portfolio”, and in doing so, investors could “balance” assets across various investment accounts (i.e., between RRSP, TFSA and non-registered accounts). (You can read more about asset location strategies I use here as an example from my site.)
Our reader confirmed with Wealthsimple that cross-account balancing is planned for the future but resources and the software interface to support investment selections, balances and advice are where resources are dedicated in the short-term…
