News: Money

What Does the Interest Rate Hike Decision Mean for Canadians?

Thursday  08:52,   18 january 2018
Baystreet

The Bank of Canada raised interest rates today and questions of how the interest rate hike will affect both investments and personal household finances are continuing to shape much of the discussion on Bay[...]

Goldman's Solomon Is Victim of Alleged $1 Million Wine Theft

Thursday  07:16,   18 january 2018
Bloomberg

A former personal assistant to Goldman Sachs Group Inc. Co-President David Solomon faces federal charges that he stole more than $1.2 million of rare wine from his boss. define("homepageFinanceIndices", ["c.deferred"], function () { [...]

Cramer: Investors should heed Bank of America's warning on bitcoin

Thursday  05:05,   18 january 2018
CNBC

During a post-earnings call, Bank of America CEO Brian Moynihan says it has a limited relationship with cryptocurrencies.Investors should heed Bank of America's warning on bitcoin and other virtual currencies, CNBC's Jim Cramer said[...]

Big Canadian banks raise prime lending rate

Thursday  02:02,   18 january 2018
MSN

TORONTO - Canada's biggest banks will hike their prime rate by a quarter of a percentage point on Thursday, putting financial pressure on homeowners with variable rate mortgages. The Royal Bank of Canada (TSX:RY) was first to announce its prime[...]

Loblaws in $400M tax fight with CRA over claims it set up bogus offshore bank

Thursday  02:01,   18 january 2018
cbc.ca

Loblaws and the government squared off in court today in one of the biggest offshore corporate tax-avoidance cases in the country, with authorities alleging the grocery conglomerate set up a bogus foreign bank to avoid tax on hundreds of millions of [...]

Sears Canada dividend payments under review

Wednesday  23:55,   17 january 2018
MSN

TORONTO - Hundreds of millions of dollars of dividends doled out to Sears Canada shareholders are coming under scrutiny by the former retailer's court-appointed monitor, according to a new report in the company's insolvency proceedings. The[...]

Bank of Canada Sees Trump's Tax Plan Trickling Across Border

Wednesday  22:37,   17 january 2018
Bloomberg

President Donald Trump’s tax reform plan is a $600-billion boon for the American economy that primarily benefits U.S. businesses and high-income individuals -- and some of it will trickle down to Canada. Too bad about the trade policy. [...]

The End of NAFTA: Here’s What Could Happen

Wednesday  19:22,   17 january 2018
The Motley Fool

In the unlikely event NAFTA is torn up, companies such as Magna International Inc. (TSX:MG)(NYSE:MGA) could see revenues take temporary a dip until global supply chains are[...]

Short seller sues Home Capital for $4M

Wednesday  18:08,   17 january 2018
MSN

TORONTO - A short seller is suing Home Capital Group (TSX:HCG) and three former executives for $4 million, alleging the alternative mortgage lender's false representations scandal cost him millions when he closed his position early. Marc Cohodes [...]

Walmart is hoping a simple packet could help curb opioid misuse

Wednesday  18:08,   17 january 2018
Business Insider

Walmart Walmart is taking what could be a major step to curbing the opioid crisis.Walmart, the third-largest pharmacy in the US, wants to give people who receive prescriptions that are frequently misused a safe way to get rid of them for[...]

Rise in condo maintenance fees slowed last year, says study

Wednesday  17:38,   17 january 2018
Toronto Star

It's big and it's real — condo buyers’ and residents’ fear of escalating monthly maintenance fees. But a study by Condos.ca shows condo fees in Toronto rose only 2.5 per cent last year over 2016. The average maintenance cost on a 594 sq.[...]

It's becoming economically desirable to live in a trailer park

Wednesday  16:22,   17 january 2018
Quartz

America’s growing affordability housing gap is forcing many people to rethink the traditional single family home. Trailer parks don’t have the best reputation. But[...]

Toronto’s unaffordable. Why can’t Halifax or Saskatoon take advantage?

Wednesday  16:22,   17 january 2018
Maclean's

Jennifer Keesmaat: Mid-sized cities hold the key to economic growth and quality of life in Canada, and they’ve taken too long to realize[...]

Court monitor to review Sears Canada payout of dividends while company was in the red

Wednesday  16:11,   17 january 2018
Toronto Star

Handsome dividends paid to Sears Canada shareholders even as the company was faltering and its employee pension fund was running a deficit are being reviewed by the court-appointed monitor handling the company’s insolvency. [...]

B.C. consumers fearful of not being able to pay bills as interest rates expected to rise, says poll

Wednesday  11:50,   17 january 2018
cbc.ca

According to a national accounting and business consultant, the increasing pressure of rising interest rates are leaving British Columbians with significantly less disposable income and consumers need to make adjustments to avoid insolvency."What[...]