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Business Highlights + MORE Apr 25th
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Fed will likely keep rates unchanged in face of global slump
WASHINGTON (AP) — The U.S. job market is healthy. The stock market is up. Home prices are rising. Yet as the Federal Reserve prepares to meet this week, it seems in no mood to resume raising interest rates from ultra-lows.
With the g.... More »
Financial market murder mystery: Why are so many so fearful? + MORE Feb 13th
It’s a strange time when we have to turn an ear to the world’s foremost connoisseur of financial disaster to hear an upbeat voice
.... More »
DC plans once you retire: What do you do with them? + MORE Jun 26th
Two questions, two experts share their answers on what to do with a defined contribution (DC) pension plan when Canadians retire.
What to do with a DC plan when you’re about to retire
Ask MoneySense
My husband has an DC RPP through an insurance company and will retire within the next year. .... More »
Five smart money moves for new graduates May 12th
Stretching your dollars as far as they can go is cited as one of the top skills self-made-millionaires use to build wealth.... More »
Romanian court: Put Prince Paul under house arrest for an alleged massive real estate fraud + MORE Dec 12th
BUCHAREST, Romania – A Romanian court has ruled that Romania’s Prince Paul be placed under home arrest pending a probe into a massive real estate fraud.
Paul was charged Saturday with money laundering and influence-buying in a case involving the restitution of real estate that prosecutor.... More »
FXCM gets $300M loan from Leucadia after Swiss franc volatility wreaks havoc on forex broker
– canadianbusiness.com
U.S. foreign-exchange broker FXCM is getting a $300 million lifeline after being hit with big losses from the impact of a change in Swiss currency policy.
New York-based FXCM’s fate was temporarily in question after suffering a $225 million loss that it warned on Thursday might leave it in violation of regulatory capital requirements. The company said Friday that the $300 loan, from financial services company Leucadia National Corp., would let it “meet its regulatory-capital requirements and continue normal operations.”
Trading had been halted Friday. When it resumed after the market close Friday, the stock slid 63 per cent to $4.69 in extended trading. It traded above $17 as recently as Monday.
The Swiss National Bank shocked global markets Thursday when it announced that it was ditching its increasingly expensive policy of limiting the rise of its currency. The decision sent the Swiss franc — one of the world’s most traded currencies— surging.
Some financial firms were unprepared for the unexpected change…
New York-based FXCM’s fate was temporarily in question after suffering a $225 million loss that it warned on Thursday might leave it in violation of regulatory capital requirements. The company said Friday that the $300 loan, from financial services company Leucadia National Corp., would let it “meet its regulatory-capital requirements and continue normal operations.”
Trading had been halted Friday. When it resumed after the market close Friday, the stock slid 63 per cent to $4.69 in extended trading. It traded above $17 as recently as Monday.
The Swiss National Bank shocked global markets Thursday when it announced that it was ditching its increasingly expensive policy of limiting the rise of its currency. The decision sent the Swiss franc — one of the world’s most traded currencies— surging.
Some financial firms were unprepared for the unexpected change…
3.5 year – 2.30%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-11-28. Click on the link above to get more details or apply online.
Swiss franc’s ascent will hurt home economy, but also raises uncertainties for global business
– canadianbusiness.com
LONDON – A 30 per cent swing in a blink of an eye is not uncommon in the stock market. In the world of currencies, it can seem as rare as Halley’s Comet.
But that’s what happened to the Swiss franc on Thursday — a stunning move that is likely to hurt the Swiss economy, inject uncertainty in financial markets and even darken the global outlook.
Within minutes of the Swiss National Bank’s announcement it was ditching a policy to limit the rise of the currency, the franc had rocketed by about a third against the euro and the dollar. Unprecedented, said analysts.
Though it has since shed some of those gains, the Swiss franc remains sharply higher and that spells a host of problems.
SWISS SIDE EFFECTS
The stock market said it all. Shares on the Zurich exchange have fallen another 6 per cent Friday following the previous day’s 9 per cent slump. That’s a clear indication investors have taken fright at the worsening outlook for Switzerland’s exporters and economy…
But that’s what happened to the Swiss franc on Thursday — a stunning move that is likely to hurt the Swiss economy, inject uncertainty in financial markets and even darken the global outlook.
Within minutes of the Swiss National Bank’s announcement it was ditching a policy to limit the rise of the currency, the franc had rocketed by about a third against the euro and the dollar. Unprecedented, said analysts.
Though it has since shed some of those gains, the Swiss franc remains sharply higher and that spells a host of problems.
SWISS SIDE EFFECTS
The stock market said it all. Shares on the Zurich exchange have fallen another 6 per cent Friday following the previous day’s 9 per cent slump. That’s a clear indication investors have taken fright at the worsening outlook for Switzerland’s exporters and economy…
90 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.
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.
