The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
Latest News
Consumer group that battles the big telcos blames CRTC for its 'dire' financial troubles Dec 17th
The Public Interest Advocacy Centre, the voice behind some of the country’s most important consumer protections, is at risk of having to close its doors for good. And it says the CRTC, the regulator it has so often prodded over the past 42 years, is to blame for its financial troub.... More »
Judge orders release of documents in Trump University suit May 29th
WASHINGTON – A federal judge is ordering the release of Trump University internal documents in a class-action lawsuit against the now-defunct real estate school owned by presumptive Republican presidential nominee Donald Trump.
The order by U.S. District Judge Gonzalo Curiel in San Diego, whic.... More »
Stock market news for Canadian investors: BMO and Scotiabank report earnings + MORE Feb 26th
Companies that reported earnings this week
BMO
Scotiabank
BMO Financial Group reports $2.14B Q1 profit up from $1.29B a year ago
Source: Google
BMO (TSE: BMO)
Q1 earnings: $2.14 billion, up from $1.29 billion a year earlier.
Revenue: $9.27 billion, up from $7.67 bi.... More »
The latest investment trend? Take low-fee one step further and make it free Aug 17th
A David and a Goliath have each shaken up the investment industry this month with new investment products that take the growing trend of low-fee investing one step further — charging no fees at all..... 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 »
Iamgold whacked by falling gold prices, higher costs; Q3 earnings tumble 56%
– canadianbusiness.com
TORONTO – Iamgold Corp. (TSX:IMG) reported a big drop in third-quarter revenue and earnings, citing lower prices for gold and higher operating costs.
The Toronto-based miner, which reports in U.S. dollars, said Tuesday that net earnings attributable to shareholders fell 68 per cent to US$25.3 million or seven cents per share in the period ended Sept. 30.
That compared with net earnings of $78 million or 21 cents per share in the year-earlier period.
Revenue fell 13 per cent to $293.5 million from $336.2 million as lower gold prices were only partially offset by a higher volume of sales.
The cost of sales for the third quarter was $218.3 million, up $33.1 million from the same prior-year period, primarily the result of higher operating costs ($27 million) and higher depreciation expense ($9.7 million), partially offset by lower royalties arising from a lower average realized gold price ($3.6 million).
“We had a good quarter despite the challenging environment in our industry,” president and CEO Steve Letwin said in the Iamgold earnings announcement, issued after stock markets closed…
The Toronto-based miner, which reports in U.S. dollars, said Tuesday that net earnings attributable to shareholders fell 68 per cent to US$25.3 million or seven cents per share in the period ended Sept. 30.
That compared with net earnings of $78 million or 21 cents per share in the year-earlier period.
Revenue fell 13 per cent to $293.5 million from $336.2 million as lower gold prices were only partially offset by a higher volume of sales.
The cost of sales for the third quarter was $218.3 million, up $33.1 million from the same prior-year period, primarily the result of higher operating costs ($27 million) and higher depreciation expense ($9.7 million), partially offset by lower royalties arising from a lower average realized gold price ($3.6 million).
“We had a good quarter despite the challenging environment in our industry,” president and CEO Steve Letwin said in the Iamgold earnings announcement, issued after stock markets closed…
Business Highlights
– canadianbusiness.com
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As US economy plods and pay lags, companies profit
WASHINGTON (AP) — Look at the U.S. economy and you’ll notice an unusual disconnect. The economy is being slowed by a tight job market, scant pay raises and weak business investment. Yet corporate profits are reaching record highs and fueling record stock prices.
What gives?
For starters, weak job growth has held down pay. Since the recession struck six years ago, businesses have been relentless in cutting costs. They’ve also stockpiled cash rather than build new products or lines of business. And they’ve been earning larger chunks of their profits overseas.
All of which is a recipe for solid profits and tepid economic growth.
The economy grew at a meagre annual rate of just 1.8 per cent in the first half of 2013. The unemployment rate is 7.2 per cent, far above the 5 per cent to 6 per cent considered healthy. Even so, corporate profits equaled 12.5 per cent of the economy in the April-June quarter, just below a 60-year high reached two years ago…
As US economy plods and pay lags, companies profit
WASHINGTON (AP) — Look at the U.S. economy and you’ll notice an unusual disconnect. The economy is being slowed by a tight job market, scant pay raises and weak business investment. Yet corporate profits are reaching record highs and fueling record stock prices.
What gives?
For starters, weak job growth has held down pay. Since the recession struck six years ago, businesses have been relentless in cutting costs. They’ve also stockpiled cash rather than build new products or lines of business. And they’ve been earning larger chunks of their profits overseas.
All of which is a recipe for solid profits and tepid economic growth.
The economy grew at a meagre annual rate of just 1.8 per cent in the first half of 2013. The unemployment rate is 7.2 per cent, far above the 5 per cent to 6 per cent considered healthy. Even so, corporate profits equaled 12.5 per cent of the economy in the April-June quarter, just below a 60-year high reached two years ago…
Sure, Twitter has great power and reach, but can it make money? Wall Streeters are concerned
– canadianbusiness.com
NEW YORK, N.Y. – It can help overthrow dictators. But can it make money?
Protesters famously used Twitter to organize during the Arab Spring three years ago. President Barack Obama announced his 2012 re-election victory using the short messaging service. Lady Gaga tweets. So does the pope.
But for all its power and reach, Twitter gushes losses — $65 million in the third quarter, nearly three times more than it lost a year ago.
As Wall Street analysts size up Twitter ahead of its first public stock sale this week, more than a few are expressing concern about the company’s lack of profits.
Those misgivings are echoed by average investors. Some 47 per cent of Americans believe Twitter won’t be a good investment, according to a recent AP-CNBC poll.
Of course, a company’s pre-IPO losses are no indication its stock will do poorly. Amazon.com had big losses before it went public 16 years ago and still occasionally posts them. Yet its stock is up more than 18,000 per cent since the IPO…
Protesters famously used Twitter to organize during the Arab Spring three years ago. President Barack Obama announced his 2012 re-election victory using the short messaging service. Lady Gaga tweets. So does the pope.
But for all its power and reach, Twitter gushes losses — $65 million in the third quarter, nearly three times more than it lost a year ago.
As Wall Street analysts size up Twitter ahead of its first public stock sale this week, more than a few are expressing concern about the company’s lack of profits.
Those misgivings are echoed by average investors. Some 47 per cent of Americans believe Twitter won’t be a good investment, according to a recent AP-CNBC poll.
Of course, a company’s pre-IPO losses are no indication its stock will do poorly. Amazon.com had big losses before it went public 16 years ago and still occasionally posts them. Yet its stock is up more than 18,000 per cent since the IPO…
Watsa’s promises add to sting of a dead BlackBerry deal
– theglobeandmail.com
The credibility of the chairman and CEO of Fairfax Financial has been dented
Since the 2008 financial crisis, household income and household wealth in OECD countries has declined, and trust in government and other institutions has taken a hit. But Canada is among the best countries when the OECD report measures well-being.
