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.
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TSX closes higher on final day of difficult year for the market Dec 31st
Canada's main stock index closed higher along with U.S. markets on the final day of trading of what has been a difficult year for stocks..... More »
“A way to leapfrog”: AWS executive says regulated industries moving fastest on AI + MORE Jul 5th
As a wave of companies rush to embed artificial intelligence into their operations, Matt Wood has noticed the technology’s fastest adopters are businesses more typically described as slow to change.
Matt Wood, Amazon Web Services global VP of AI products (The Canadian Press / HO-Amazon Web Serv.... More »
Here’s how much more a TFSA can help you save + MORE Jul 11th
There were more than 11.7 million TFSA holders in 2014, according to the latest statistics available from the Canada Revenue Agency (CRA).
Slowly but surely, more and more Canadians are opening a TFSA to supercharge their savings (the 2017 TFSA contribution limit is set at $5,500).
The TFSA is very .... More »
It’s RRSP season. Don’t forget rule No.1! + MORE Feb 1st
Whatever route you choose, just be sure you save for retirement, writes Gordon Pape..... More »
Canada’s best instant approval credit cards for 2023 + MORE Jun 2nd
Credit Cards
The 20 best credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
Find my perfect card*
.... More »
Most homeowners would have mortgage trouble if payments rose by more than 10%: poll
– canadianbusiness.com
Nearly three quarters of Canadian homeowners say they would have difficulty paying their mortgage if their payments were to increase by more than 10 per cent, says a new survey by Manulife Bank.
Thirty-eight per cent of those polled say their mortgage bills could rise between one to five per cent before they would have financial difficulty; 20 per cent say they could sustain an increase in payments between six to 10 per cent before having trouble; and 14 per cent say any hike would be a problem.
Twenty-two per cent said they could handle a payment increase of between 11 to 30 per cent, while the remaining seven per cent didn’t know or were unsure.
“What these people don’t realize is that we’re at record low interest rates today,” said Rick Lunny, president and CEO of Manulife Bank (TSX:MFC), adding that a 10 per cent increase in mortgage payments could be the result of as little as a one per cent interest hike.
“When you put it into that context, they’re not really prepared for what is inevitable…
Thirty-eight per cent of those polled say their mortgage bills could rise between one to five per cent before they would have financial difficulty; 20 per cent say they could sustain an increase in payments between six to 10 per cent before having trouble; and 14 per cent say any hike would be a problem.
Twenty-two per cent said they could handle a payment increase of between 11 to 30 per cent, while the remaining seven per cent didn’t know or were unsure.
“What these people don’t realize is that we’re at record low interest rates today,” said Rick Lunny, president and CEO of Manulife Bank (TSX:MFC), adding that a 10 per cent increase in mortgage payments could be the result of as little as a one per cent interest hike.
“When you put it into that context, they’re not really prepared for what is inevitable…
Growth council’s new tasks: unlock business spending, broaden job skills help
– canadianbusiness.com
The Trudeau government’s influential team of economic advisers is pursuing solutions to an issue that has preoccupied policy-makers for years _ how to open the spigot on business investment.
The chair of Finance Minister Bill Morneau’s growth council tells The Canadian Press that the group’s next report, due this fall, will outline ways to encourage more business investment with the aim of reversing several years of decline.
Dominic Barton says the council is also working to build upon past recommendations on how to ensure Canadians acquire the skills needed for the rapidly transforming needs of the country’s workforce.
Barton, the global managing partner of consulting giant McKinsey & Co., says this time the advisers will focus on a plan to help higher-skilled workers who, like lower-skilled workers, face the possibility of losing their jobs in the future because of factors such as automation.
Since its creation last year, the council’s advice has played a key role in the development of government policy…
The chair of Finance Minister Bill Morneau’s growth council tells The Canadian Press that the group’s next report, due this fall, will outline ways to encourage more business investment with the aim of reversing several years of decline.
Dominic Barton says the council is also working to build upon past recommendations on how to ensure Canadians acquire the skills needed for the rapidly transforming needs of the country’s workforce.
Barton, the global managing partner of consulting giant McKinsey & Co., says this time the advisers will focus on a plan to help higher-skilled workers who, like lower-skilled workers, face the possibility of losing their jobs in the future because of factors such as automation.
Since its creation last year, the council’s advice has played a key role in the development of government policy…
Are we pushing millennials into a financial abyss of home ownership?
– theglobeandmail.com
Helping your kids buy a house is a fact of life for many parents, but you could be putting them into a situation they can’t handle
Canada’s main stock index chalked up a moderate gain today as financial stocks got a boost ahead of Canadian bank earnings this week.
BlackBerry boost helps push Toronto stock index moderately higher
– canadianbusiness.com
Canada’s main stock index made moderate gains in morning trading today with help from banks, utilities and BlackBerry.
The Toronto Stock Exchange’s S&P/TSX composite index was up 41.19 points to 15,499.65 after 90 minutes of trading.
One of the biggest individual gainers was BlackBerry, up almost nine per cent and at its highest level in about four years.
In New York, the Dow Jones industrial average advanced 34.48 points to 20,929.31, the S&P 500 index added 3.04 points to 2,397.06 and the Nasdaq composite index was down 1.43 points to 6,132.19.
The Canadian dollar was trading at 74.20 cents US, up from Friday’s average price of 73.83 cents US.
The July crude contract was up five cents at US$51.18 per barrel and the June natural gas contract was down four cents at US$3.29 per mmBTU.
The June gold contract was up 70 cents to US$1,260.70 an ounce and the July copper contract was down one cent at US$2.59 a pound.
The post BlackBerry boost helps push Toronto stock index moderately higher appeared first on Canadian Business – Your Source For Business News.
The Toronto Stock Exchange’s S&P/TSX composite index was up 41.19 points to 15,499.65 after 90 minutes of trading.
One of the biggest individual gainers was BlackBerry, up almost nine per cent and at its highest level in about four years.
In New York, the Dow Jones industrial average advanced 34.48 points to 20,929.31, the S&P 500 index added 3.04 points to 2,397.06 and the Nasdaq composite index was down 1.43 points to 6,132.19.
The Canadian dollar was trading at 74.20 cents US, up from Friday’s average price of 73.83 cents US.
The July crude contract was up five cents at US$51.18 per barrel and the June natural gas contract was down four cents at US$3.29 per mmBTU.
The June gold contract was up 70 cents to US$1,260.70 an ounce and the July copper contract was down one cent at US$2.59 a pound.
The post BlackBerry boost helps push Toronto stock index moderately higher appeared first on Canadian Business – Your Source For Business News.
