Why I’m taking Old Age Security right at 65 + MORE Aug 18th

TORONTO – Canada’s national housing agency gave Maple Bank GmbH’s Canadian branch the green light during a financial review, just one month before the federal banking watchdog seized the company’s assets amid a German tax investigation, documents show.
Documents obtained by The Canadian Press through an access-to-information request show that the Canada Mortgage and Housing Corporation reviewed Maple Bank GmbH’s status as an issuer of mortgage-backed securities and a seller of Canada Mortgage Bonds in January 2016.
At the time, CMHC’s so-called operations support division said it was “comfortable” maintaining Maple Bank’s status, the documents show.
The housing agency was aware of the German bank’s dispute with authorities, which had been ongoing for about four years, according to the documents.
A month after the financial review, Canada’s federal banking regulator announced it was taking temporary control of the Canadian branch’s assets in light of the news that German banking regulator BaFin was shuttering the bank after a tax dispute threatened its financial stability…

When self-made millionaires Kristy Shen and Bryce Leung told CBC News their story, they inspired plenty of online hate. Seems that many folks find no joy in hearing about young people’s financial success and their advice to others.

During the “Victory Lap” stage of life between full-time employment and traditional “no-nothing” retirement, a key strategy is deciding when to commence receipt of various streams of income.
This commonly occurs in one’s 60s. As you move from a salaried single stream of income to the “multiple streams” of income inherent in post-corporate portfolio careers, certain considerations may cause you to commence receipt of certain streams while postponing others.
Non-registered investment income is one income stream you can scarcely avoid receiving, whether fully employed or semi-retired. Part-time work is a likely source of income in this stage: the previous column in this series examined its positive impact on your nest egg. Even if you decide you don’t want to work part-time after age 70 or 71, you can slowly replace that income with no-longer-deferred government or corporate pensions and of course the mandatory forced annual taxable RRIF withdrawals once you turn 71.
But in the pre-RRIF years of your 60s, if you can live on some of the above income streams, it may be advantageous to delay employer pensions and government retirement income sources like the Canada Pension Plan and Old Age Security…

GENEVA – Swiss food and beverage giant Nestle says first-half profit dipped due to a one-time tax expense even as revenues edged up behind growth in its key North American food business and despite a slowdown in the Chinese market.
The maker of Kit Kat chocolate bars, Lean Cuisine meals, Maggi noodles and Gerber baby foods said Thursday that its net income was 4.10 billion Swiss francs ($4.27 billion), down from 4.52 billion francs a year earlier, due to a 400-million franc deferred tax adjustment.
Sales rose under 1 per cent to 43.16 billion francs.
Food companies like Nestle, which is based in Vevey, Switzerland, have sought to burnish their reputations on health and nutrition amid concerns about growing obesity rates and pressure they have faced for marketing foods full of fat, salt and sugar. Nestle in June announced it is bringing in health care executive Ulf Mark Schneider as its next CEO starting Jan. 1.
Unveiling the latest results, Nestle decried “historically low levels” of pricing in the first half of 2016, but chief financial officer Francois-Xavier Roger said in a conference call that the company was “confident that pricing is going to improve” in the coming months…

BEIJING, China – Global stocks rose Wednesday after Wall Street edged higher on news the U.S. Federal Reserve is in no hurry to raise interest rates. Japan’s benchmark fell after July trade declined.
KEEPING SCORE: France’s CAC-40 index rose 1.5 per cent to 4,410.55 points and Germany’s DAX added 0.4 per cent to 10,581.42. Britain’s FTSE 100 gained 0.4 per cent to 6,890.42. On Thursday, the CAC-40 dropped 0.9 per cent and the DAX shed 1.3 per cent while the FTSE 100 lost 0.5 per cent. On Wall Street, the future for the Dow Jones industrial average was up 0.1 per cent while that for the Standard & Poor’s 500 index was unchanged.
FED MIXED SIGNALS: Notes of the Fed’s July meeting showed officials saying a rate hike might be warranted but gave no indication of timing. Low rates have pushed up stock prices and any change might cool investor enthusiasm.
ANALYST’S TAKE: “There is clearly strong disagreement within the Fed with regards to the timing of further rate hikes,” said Angus Nicholson of IG in a report…