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Regulators close Edgebrook Bank of Chicago in the fifth bank failure of 2015 + MORE May 9th
NEW YORK, N.Y. – Regulators have closed a small bank in Chicago, marking the fifth failure of a federally insured bank 2015.
Edgebrook Bank was closed by the Illinois Department of Financial & Professional Regulation on Friday. Republic Bank of Chicago agreed to buy $79.7 million of the fa.... More »
Making sense of the markets this week: January 23 + MORE Jan 22nd
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
U.S. earnings season is in full swing
Earnings season is off and running. As always, the financials were battling to be the lead-off batter, as we look .... More »
Getting back into the saddle after a big loss + MORE Nov 18th
There comes a day in every trader’s career when it all seems to go wrong. A big financial loss can happen in many ways and for many different reasons. It can be sudden or sustained – one bad moment or a run of bad days. Maybe you took your eye off the ball or got overconfident, resulting in a lo.... More »
Dating dilemma: When to talk about finances + MORE Mar 15th
When it comes to popular first-date conversation topics, credit scores and debt levels aren’t at the top of the list. Even committed couples may find it hard to broach financial topics like retirement planning or estate planning. But as the cost of living goes up and people try to plan for the fut.... More »
Gen Z Canadians face job losses—but time is on their side + MORE Feb 5th
Statistics Canada has released new employment insurance (EI) data, and it doesn’t look good for Canadian workers. In the year ending November 2025, the number of people receiving EI rose by 16.1%. Among young Canadians aged 15 to 24, the increase was 12.4%. While this group wasn’t hit the hardes.... More »
40 days – 2.75%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 0000-00-00. Click on the link above to get more details or apply online.
60 days – 1.75%
– ratesupermarket.ca
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.
Some major events in the history of Future Shop
– canadianbusiness.com
Future Shop closed its Canadian stores on Saturday. Here is a list of major events in the history of the retail chain.
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1982: Hassan Khosrowshahi opens first Future Shop location in Vancouver, one year after immigrating from Iran.
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1993: Future Shop goes public on Toronto and Vancouver stock exchanges as Canada’s largest electronics retailer. The company has 36 stores in Canada and two in the U.S., with plans to open 16 new locations within the year.
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1999: After a failed expansion into the U.S., Future Shop pulls out of the American market. The retailer closes its 23 locations south of the border after shuttering five others the year before.
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2001: U.S. retailer Best Buy purchases Future Shop in a $580-million deal. At the time, the Future Shop name is expected to disappear within three years.
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Jan. 30, 2014: About 950 full-time employees are laid off at Best Buy and Future Shop stores across Canada as the company thins out management and combines some of its sales departments…
—
1982: Hassan Khosrowshahi opens first Future Shop location in Vancouver, one year after immigrating from Iran.
—
1993: Future Shop goes public on Toronto and Vancouver stock exchanges as Canada’s largest electronics retailer. The company has 36 stores in Canada and two in the U.S., with plans to open 16 new locations within the year.
—
1999: After a failed expansion into the U.S., Future Shop pulls out of the American market. The retailer closes its 23 locations south of the border after shuttering five others the year before.
—
2001: U.S. retailer Best Buy purchases Future Shop in a $580-million deal. At the time, the Future Shop name is expected to disappear within three years.
—
Jan. 30, 2014: About 950 full-time employees are laid off at Best Buy and Future Shop stores across Canada as the company thins out management and combines some of its sales departments…
Australia signs up to negotiations on Chinese-led Asian Infrastructure Investment Bank
– canadianbusiness.com
CANBERRA, Australia – Australia announced on Sunday that it would join negotiations to establish a new a Chinese-led Asian regional bank that has emerged as a potential challenge to United States influence in a part of the world where the Obama administration has tried to forge stronger ties.
The U.S. has expressed concern the new Asian Infrastructure Investment Bank, or AIIB, will allow looser lending standards for financial transparency, the environment and labour rights. The U.S. also worries the new bank will undercut the World Bank, where the U.S. has the most clout, and the Asian Development Bank, where it is the second-largest shareholder after Japan.
Prime Minister Tony Abbott, Foreign Minister Julie Bishop and Treasurer Joe Hockey said in a joint statement that the government will sign a memorandum of understanding that will allow Australia to participate as a prospective founding member in negotiations to set up the bank.
“Good progress has been made on the bank’s design, governance and transparency over the past few months, but we still have issues that we will address through ongoing consultations,” the statement said…
The U.S. has expressed concern the new Asian Infrastructure Investment Bank, or AIIB, will allow looser lending standards for financial transparency, the environment and labour rights. The U.S. also worries the new bank will undercut the World Bank, where the U.S. has the most clout, and the Asian Development Bank, where it is the second-largest shareholder after Japan.
Prime Minister Tony Abbott, Foreign Minister Julie Bishop and Treasurer Joe Hockey said in a joint statement that the government will sign a memorandum of understanding that will allow Australia to participate as a prospective founding member in negotiations to set up the bank.
“Good progress has been made on the bank’s design, governance and transparency over the past few months, but we still have issues that we will address through ongoing consultations,” the statement said…
4.5 year – 2.50%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-06-13. Click on the link above to get more details or apply online.
