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
The right way to sell stocks during COVID-19 + MORE Sep 18th
It’s becoming increasingly likely that the economic recovery from COVID-19 will be long and drawn out, which is not good considering that 3 million have been laid off over the last two months. Since the crisis began in Canada, MoneySense has been telling readers to hang tight with their portfolio .... More »
Will Archbishop of Canterbury's residential school apology include any of Church of England's $13B in assets? - CBC.ca May 2nd
Will Archbishop of Canterbury's residential school apology include any of Church of England's $13B in assets? CBC.caResidential school survivor says weight "lifted" after Anglican church apology Global NewsArchbishop of Canterbury addresses reconciliation during service in Sask.... More »
Saks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse - CBC Jan 14th
Saks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse CBCSaks files for bankruptcy, leaving the future of its stores up in the air Yahoo! Finance CanadaSaks Global files for bankruptcy amid luxury market strains CNNWhat Does the Sa.... More »
5 smart strategies for renewing your mortgage + MORE Mar 24th
Owning a home has plenty of benefits, but it’s not without challenges. Over one million mortgages in Canada are set to renew in the next few years, and many home owners will be faced with higher interest rates. If you’re in this situation, you may feel squeezed in two ways: a higher interest rat.... More »
How to plan for retirement in five or 10 years Dec 8th
I am a divorced empty nester and a registered nurse, who is trying to figure out how to plan the next five to 10 years, before my retirement. Currently I am a 55-year-old female, and I will have a pension from my workplace. Unfortunately due to life circumstances, I did not start my company pen.... More »
Do’s and don’ts of year-end tax planning
– moneysense.ca
Want to get ahead of next year’s tax-time crunch? Follow these do’s and don’t’s of year-end tax-planning.
DO:
1. Donate shares instead of cash. Not only do you get the charitable donation deduction, but by donating the shares you’re not subject to capital gains tax.
2. Open a TFSA when you turn 18. If you were 18 when TFSAs were created in 2009, your current contribution room has reached $46,500. Contribution room grows by $5,500 each year.
3. Review your debts. The interest paid on money used to earn business or generate investment income can be used as a tax deduction.
4. If you need to purchase a car or musical instrument for work, do so at the end of the year to enjoy the benefit of accelerated capital cost allowance claims.
DON’T:
1. Purchase mutual funds or ETFs at year end. Wait until the new year to avoid paying tax on the fund’s annual income (that you never received).
2. Claim donations. Save up all charitable gifts for two or more years to take advantage of the First-Time Donor’s Super-Credit…
DO:
1. Donate shares instead of cash. Not only do you get the charitable donation deduction, but by donating the shares you’re not subject to capital gains tax.
2. Open a TFSA when you turn 18. If you were 18 when TFSAs were created in 2009, your current contribution room has reached $46,500. Contribution room grows by $5,500 each year.
3. Review your debts. The interest paid on money used to earn business or generate investment income can be used as a tax deduction.
4. If you need to purchase a car or musical instrument for work, do so at the end of the year to enjoy the benefit of accelerated capital cost allowance claims.
DON’T:
1. Purchase mutual funds or ETFs at year end. Wait until the new year to avoid paying tax on the fund’s annual income (that you never received).
2. Claim donations. Save up all charitable gifts for two or more years to take advantage of the First-Time Donor’s Super-Credit…
Fed raises key interest rate for first time in year
– canadianbusiness.com
WASHINGTON _ The Federal Reserve is raising a key interest rate for the first time in a year, reflecting a resilient U.S. economy and expectations of higher inflation. The move will mean modestly higher rates on some loans.
The Fed is signalling that additional rate increases will likely be made slowly as the economy improves and inflation edges closer to the Fed’s 2 per cent target.
The central bank is increasing its benchmark rate by a quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed last raised the rate in December 2015 from a record low near zero set during the 2008 financial crisis.
President-elect Donald Trump’s plans for tax cuts and infrastructure spending have led investors to expect that inflation will pick up in coming months.
The post Fed raises key interest rate for first time in year appeared first on Canadian Business – Your Source For Business News.
The Fed is signalling that additional rate increases will likely be made slowly as the economy improves and inflation edges closer to the Fed’s 2 per cent target.
The central bank is increasing its benchmark rate by a quarter-point to a still-low range of 0.5 per cent to 0.75 per cent. The Fed last raised the rate in December 2015 from a record low near zero set during the 2008 financial crisis.
President-elect Donald Trump’s plans for tax cuts and infrastructure spending have led investors to expect that inflation will pick up in coming months.
The post Fed raises key interest rate for first time in year appeared first on Canadian Business – Your Source For Business News.
Toro agrees to buyout by ARC Financial-owned oil firm
– theglobeandmail.com
Toro shares jump 60% after oil-patch junior agrees to $44-milllion buyout from Steelhead Petroleum
General Motors to invest $334M in 3 New York state plants
– canadianbusiness.com
TONAWANDA, N.Y. _ General Motors will invest $334 million in three plants in upstate New York.
The company announced the investments Wednesday at an event with Gov. Andrew Cuomo at its plant in Tonawanda, just north of Buffalo.
The money will pay for new equipment and machinery needed to produce next-generation engines and other automotive components.
New York state agreed to provide up to $7 million in grants and tax breaks to support the upgrades. State officials say the company’s investment will create 67 new jobs at Tonawanda and protect nearly 2,000 jobs overall at the plants in Tonawanda, nearby Lockport and in Rochester.
General Motors employs 4,200 people in manufacturing jobs around New York state.
The post General Motors to invest $334M in 3 New York state plants appeared first on Canadian Business – Your Source For Business News.
The company announced the investments Wednesday at an event with Gov. Andrew Cuomo at its plant in Tonawanda, just north of Buffalo.
The money will pay for new equipment and machinery needed to produce next-generation engines and other automotive components.
New York state agreed to provide up to $7 million in grants and tax breaks to support the upgrades. State officials say the company’s investment will create 67 new jobs at Tonawanda and protect nearly 2,000 jobs overall at the plants in Tonawanda, nearby Lockport and in Rochester.
General Motors employs 4,200 people in manufacturing jobs around New York state.
The post General Motors to invest $334M in 3 New York state plants appeared first on Canadian Business – Your Source For Business News.
Companies need to disclose more on climate risks, panel says
– canadianbusiness.com
LONDON _ Investors need more information about the risks companies face from global warming so they can fund development of the new technologies that are needed to control climate change and mitigate its effects, a task force said Wednesday.
An international panel, chaired by former New York City Mayor Michael Bloomberg, developed recommendations over the last year based on the idea that markets need more and better data to respond to the challenge of climate change.
The task force was appointed by the Financial Stability Board, an arm of the Group of 20 industrialized nations and led by Bank of England Governor Mark Carney.
“The challenge is that investors currently don’t have the information they need to respond to these developments,” Carney and Bloomberg wrote Wednesday in the Guardian newspaper. “This must change if financial markets are going to do what they do best: allocate capital to manage risks and seize new opportunities.”
The recommendations come a year after 195 countries agreed to work together to limit the rise in average global temperatures to less than 2 degrees Celsius…
An international panel, chaired by former New York City Mayor Michael Bloomberg, developed recommendations over the last year based on the idea that markets need more and better data to respond to the challenge of climate change.
The task force was appointed by the Financial Stability Board, an arm of the Group of 20 industrialized nations and led by Bank of England Governor Mark Carney.
“The challenge is that investors currently don’t have the information they need to respond to these developments,” Carney and Bloomberg wrote Wednesday in the Guardian newspaper. “This must change if financial markets are going to do what they do best: allocate capital to manage risks and seize new opportunities.”
The recommendations come a year after 195 countries agreed to work together to limit the rise in average global temperatures to less than 2 degrees Celsius…
