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Canada Post lays off 50 employees amid ‘critical financial situation’ - CTV News Feb 6th
Canada Post lays off 50 employees amid ‘critical financial situation’ CTV NewsView Full Coverage on Google News.... More »
How a young graphic designer can draw up plans to escape her debts + MORE Aug 22nd
Ashley has a solid salary for a new graduate but our financial expert zeroes in on her $6,000 credit-card debt..... More »
Mutual Funds Newsletter Nov 18th
The Canadian Mutual Funds Newsletter
Mutual Funds Newsletter – Canada
Mutual Funds Newsletter what’s it worth to you when the mutual fund market is set to reach close to 1.3 trillion dollars give or take a few billion over the next 10 years or so.
Canadians are participating in Canada.... More »
RRIF or annuity: Which one is right for you? + MORE Mar 22nd
(Caimage/Getty Images)
Q: What are cons and pros of selecting an annuity versus RRIF?
I will be 71 in July 2016. I currently work and receive OAS and CPP. My wife is 70 in July 2016 and also receives OAS and CPP.
After I hit my age of 71, I must start withdrawals from my RRSP and I need to .... More »
The best GIC rates in Canada for 2026 May 25th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
US Treasury Secretary demands action on Puerto Rico’s crisis
– canadianbusiness.com
SAN JUAN, Puerto Rico – U.S. Treasury Secretary Jacob Lew urged Congress on Friday to pass legislation by March to help ease Puerto Rico’s economic crisis before it’s too late.
Lew made the request in a letter to U.S. House Speaker Paul Ryan, a Wisconsin Republican, as he announced an upcoming trip to the island to meet with government officials and business leaders to talk about the financial situation.
“Although there are many ways this crisis could escalate further, it is clear that Puerto Rico is already in the midst of an economic collapse,” Lew wrote. “It is time for Congress to act to provide order to a chaotic and worsening situation.”
Puerto Rico is struggling with $72 billion in public debt that the governor has said is unpayable and needs restructuring. The island recently defaulted on $37 million in interest on bonds and faces its first lawsuit over how it has diverted funds to meet certain bond payments. Gov. Alejandro Garcia Padilla has already warned that Puerto Rico doesn’t have money for upcoming bond payments including $400 million due in May…
Lew made the request in a letter to U.S. House Speaker Paul Ryan, a Wisconsin Republican, as he announced an upcoming trip to the island to meet with government officials and business leaders to talk about the financial situation.
“Although there are many ways this crisis could escalate further, it is clear that Puerto Rico is already in the midst of an economic collapse,” Lew wrote. “It is time for Congress to act to provide order to a chaotic and worsening situation.”
Puerto Rico is struggling with $72 billion in public debt that the governor has said is unpayable and needs restructuring. The island recently defaulted on $37 million in interest on bonds and faces its first lawsuit over how it has diverted funds to meet certain bond payments. Gov. Alejandro Garcia Padilla has already warned that Puerto Rico doesn’t have money for upcoming bond payments including $400 million due in May…
Global stock markets slide, oil falls below $30 a barrel
– canadianbusiness.com
U.S. stocks are sharply lower, led by steep declines in energy companies as the price oil takes another tumble.
The price of oil sank below $30 a barrel Friday and is trading at its lowest level since 2003.
The sharp slump in crude from over $100 a barrel in the summer of 2014 has eviscerated energy company profits and made it much harder for them to pay off their debts.
Intel dropped 9 per cent as earnings from its PC business continue to slump.
The Dow Jones industrial average plunged 373 points, or 2.3 per cent, to 16,003 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index fell 47 points, or 2.5 per cent, to 1,873. The Nasdaq composite fell 144 points, or 3.25 per cent, to 4,469.
The post Global stock markets slide, oil falls below $30 a barrel appeared first on Canadian Business – Your Source For Business News.
The price of oil sank below $30 a barrel Friday and is trading at its lowest level since 2003.
The sharp slump in crude from over $100 a barrel in the summer of 2014 has eviscerated energy company profits and made it much harder for them to pay off their debts.
Intel dropped 9 per cent as earnings from its PC business continue to slump.
The Dow Jones industrial average plunged 373 points, or 2.3 per cent, to 16,003 as of 11:45 a.m. Eastern time.
The Standard & Poor’s 500 index fell 47 points, or 2.5 per cent, to 1,873. The Nasdaq composite fell 144 points, or 3.25 per cent, to 4,469.
The post Global stock markets slide, oil falls below $30 a barrel appeared first on Canadian Business – Your Source For Business News.
TORONTO — The Canadian dollar was trading below 69 cents US early Friday for the first time since 2003 as crude oil futures dropped below US$30 a barrel and overseas stock markets fell sharply.
The loonie traded as low as 68.74 cents US about five hours before the Toronto Stock Exchange open at 9:30 a.m.. The dollar was higher at 7:30 a.m., at 68.88 cents US — about three-quarters of a U.S. cent below the Thursday closing price.
Canada’s dollar — which hasn’t been below 69 cents since April 2003 — was also down Friday against the euro, British pound and Japanese yen.
On the commodity markets, February crude oil futures briefly traded at US$29.53 a barrel at about 7:30 a.m. The falling price of crude — from more than US$100 a barrel in the summer of 2014 — has been a major reason for the loonie’s fall.
With about two hours to go before regular trading on North American stock exchanges at 9:30 a.m., index futures had turned from solidly positive to negative: Dow Jones futures were down 247…
The loonie traded as low as 68.74 cents US about five hours before the Toronto Stock Exchange open at 9:30 a.m.. The dollar was higher at 7:30 a.m., at 68.88 cents US — about three-quarters of a U.S. cent below the Thursday closing price.
Canada’s dollar — which hasn’t been below 69 cents since April 2003 — was also down Friday against the euro, British pound and Japanese yen.
On the commodity markets, February crude oil futures briefly traded at US$29.53 a barrel at about 7:30 a.m. The falling price of crude — from more than US$100 a barrel in the summer of 2014 — has been a major reason for the loonie’s fall.
With about two hours to go before regular trading on North American stock exchanges at 9:30 a.m., index futures had turned from solidly positive to negative: Dow Jones futures were down 247…
The Toronto Stock Exchange’s S&P/TSX index was down 341.68 points — 2.8% — shortly after the opening bell at 9:30 a.m. ET, joining declines in Asia, Europe and the United States.
Swiss govt denies report that it’s fleecing refugees
– canadianbusiness.com
BERLIN – Swiss authorities on Friday rejected criticism over their practice of seizing cash from refugees, saying it’s based on a decades-old law and only affects a small number of people.
A widely cited report Thursday by Swiss public broadcaster SRF, detailing how one Syrian man had to hand over more than half his family’s money to police, has prompted criticism from refugee groups.
But a spokeswoman for the Swiss State Secretariat for Migration said the rule was neither new nor disproportionate.
“There’s an article that’s been in our asylum law for more than 20 years … that if asylum seekers arrive in Switzerland, any assets above 1,000 Swiss francs ($996) can be taken off them,” Lea Wertheimer said.
The measure affected just 112 out of 45,000 refugees last year, and generated 210,000 francs.
“Most asylum-seekers are penniless,” she told The Associated Press, adding that jewelry and other personal items aren’t taken away…
A widely cited report Thursday by Swiss public broadcaster SRF, detailing how one Syrian man had to hand over more than half his family’s money to police, has prompted criticism from refugee groups.
But a spokeswoman for the Swiss State Secretariat for Migration said the rule was neither new nor disproportionate.
“There’s an article that’s been in our asylum law for more than 20 years … that if asylum seekers arrive in Switzerland, any assets above 1,000 Swiss francs ($996) can be taken off them,” Lea Wertheimer said.
The measure affected just 112 out of 45,000 refugees last year, and generated 210,000 francs.
“Most asylum-seekers are penniless,” she told The Associated Press, adding that jewelry and other personal items aren’t taken away…
