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Latest News
New rules for investment fees provide clarity, but won't fix all complaints Jan 1st
New disclosure rules coming into effect on Jan. 1, 2017 could go a long way toward fixing one of the biggest complaints of Canadian investors — secret hidden fees that eat away at returns over time..... More »
Canadian home sales flat in April as buyers remain cautious - The Globe and Mail + MORE May 15th
Canadian home sales flat in April as buyers remain cautious The Globe and MailDespite falling interest rates and prices, home affordability isn’t set to improve any time soon, report says Toronto StarCanadian real estate market entering a ‘transition period,’ says CREA&nb.... More »
U.S. Commerce Secretary Wilbur Ross denies any wrongdoing in shorting stock Jun 20th
Commerce Secretary Wilbur Ross made a trade betting that the stock in a shipping company with Russian-government ties would fall, a transaction coming just days after he learned of a possible negative news story about his investment in the company..... More »
Anne T. Donahue: It’s Time to Re-Claim Laziness Dec 18th
Like many Millennial women, I’ve spent most of my adult life equating my self worth with my productivity. And while I’ve broken a few old habits in my career as a freelance writer—like tracking a list of all the pieces I’ve ever written, or working along to The Social Network soundtrack—I .... More »
Does divorce after a long separation make sense? + MORE Feb 24th
Q: I have been legally separated since 1999. The children are aged 27, 31, 33 so no custody or child support issues. All common assets were divided in 1999. We have lived completely separate lives with no money exchanging since child support ended. What is the simplest way to file for divorce? I h.... More »
New Ontario rules meant to crack down on unscrupulous debt collection practices
– canadianbusiness.com
OTTAWA – New rules in Ontario to better protect consumers from unscrupulous debt settlement companies come into force this week, but bankruptcy trustees says those in financial trouble seeking help still need to be cautious.
Trustee Doug Hoyes says unscrupulous companies that were taking advantages of borrowers in trouble have already closed up shop in anticipation of the new rules taking effect.
However, he says the new regulations set up a possible conflict of interest for collection agencies that will also be able to offer debt settlement services.
“It certainly opens the door for a different form of collection activity,” said Hoyes, co-founder of bankruptcy trustee firm Hoyes, Michalos & Associates Inc.
“You’re getting a phone call to collect your cellphone bill, and now you feel a lot of pressure because all of a sudden this guy on the phone also says you can deal with your other debts as well. What are you going to do?”
Ontario announced in 2013 that it would join provinces like Alberta, Manitoba and Nova Scotia in making changes to the rules amid increasing complaints about debt settlement companies including unclear or misleading contracts, high fees and a failure to reduce debts as promised…
Trustee Doug Hoyes says unscrupulous companies that were taking advantages of borrowers in trouble have already closed up shop in anticipation of the new rules taking effect.
However, he says the new regulations set up a possible conflict of interest for collection agencies that will also be able to offer debt settlement services.
“It certainly opens the door for a different form of collection activity,” said Hoyes, co-founder of bankruptcy trustee firm Hoyes, Michalos & Associates Inc.
“You’re getting a phone call to collect your cellphone bill, and now you feel a lot of pressure because all of a sudden this guy on the phone also says you can deal with your other debts as well. What are you going to do?”
Ontario announced in 2013 that it would join provinces like Alberta, Manitoba and Nova Scotia in making changes to the rules amid increasing complaints about debt settlement companies including unclear or misleading contracts, high fees and a failure to reduce debts as promised…
International central bank forum urges ‘firm hand’ in raising interest rates to normal levels
– canadianbusiness.com
FRANKFURT – Near-zero interest rates could become chronic in the world’s major economies unless “a firm hand” is used to raise them back to more normal levels.
That is the message in the annual report issued Sunday from the Bank for International Settlements based in Basel, Switzerland. The BIS, which functions as a forum for global central banks, argues that low rates aimed at stimulating economic growth in the short term may actually do the opposite over longer periods.
It said cheap money encourages more debt and creates financial booms and busts that leave lasting scars on the economy — with the result that central banks apply more cheap money to try to lift the economy.
“Rather than just reflecting the current weakness, low rates may in part have contributed to it by fueling costly financial booms and busts,” the BIS report said.
“The result is too much debt, too little growth and excessively low interest rates. In short, low rates beget lower rates…
That is the message in the annual report issued Sunday from the Bank for International Settlements based in Basel, Switzerland. The BIS, which functions as a forum for global central banks, argues that low rates aimed at stimulating economic growth in the short term may actually do the opposite over longer periods.
It said cheap money encourages more debt and creates financial booms and busts that leave lasting scars on the economy — with the result that central banks apply more cheap money to try to lift the economy.
“Rather than just reflecting the current weakness, low rates may in part have contributed to it by fueling costly financial booms and busts,” the BIS report said.
“The result is too much debt, too little growth and excessively low interest rates. In short, low rates beget lower rates…
