Expectations of higher interest rates and investor demand for Canada will help drive the Canadian dollar past parity with the U.S. greenback by this summer, says CIBC World Markets. In a report, the investment bank notes the loonie has jumped above 98 cents US in recent weeks as investors expect interest rates to rise in [...]
The Bank of Canada is continuing to make changes in its upper ranks. Canada’s central bank said it is promoting Jean Boivin, 37, to deputy governor and looking for a replacement for Pierre Duguay. Boivin had served as special adviser to governor Mark Carney and had previously been chair of monetary policy with the Institute [...]
View the video here on your mobile device. TD Bank has joined a growing chorus warning about economic disruptions if Canada does not move to deal with its aging workforce. The bank says seven million baby boomers are set to retire in the next two decades, more than one-third Canada’s labour force. The report written [...]
View the video here on your mobile device. Bankruptcies were up by more than a quarter last year, to almost 122,000. The Office of the Superintendent of Bankruptcy reports the total number of bankruptcies hit 121,801, an increase of 25.9 per cent over 2008. There were also 36,640 proposed bankruptcies, 38.5 per cent more than [...]
View the video here on your mobile device. Canadian employers are increasing contributions to their group retirement plans and more employees are maximizing their contributions to get full employer matching contributions, according to the 2009 Capital Accumulation Plan Benchmark Report. Sponsored by The Great-West Life Assurance Company and based on a survey by Benefits Canada/Canadian [...]
View the video here on your mobile device. Small business owners are focusing on growth in 2010, with 34 per cent planning to expand their business over the next six months and 26 per cent indicating that they are at the start-up stage, according to a new RBC Small Business Poll. Only 14 per cent [...]
View the video here on your mobile device. In the federal budget tabled on March 4, the government paved the way for federally incorporated credit unions. The budget promises to introduce a “legislative framework to enable credit unions to incorporate and continue federally, which will promote the continued growth and competitiveness of the sector and [...]
View the video here on your mobile device. The credit crisis of 2009 shook the financial world to its core. ILSTV sat down with Peter Little, a Capital Asset Manager with RBC based in Barbados, to find out how Asset Managers faired during that unprecedented financial crisis. Peter Little: It’s actually been for us a [...]
View the video here on your mobile device. Canada’s Financial Literacy Task Force is asking for input from citizens across the country on their financial needs and goals. The task force has launched a website where Canadians can ponder a string of questions about savings, debt and financial planning, and soon, the task force will [...]
View the video here on your mobile device. Statistics Canada says the number of workers collecting regular employment insurance benefits fell for the third straight month in December. The agency says there were 40,100 fewer beneficiaries during the month, bringing the total to 744,000. That’s down 85,300 since the high point of 829,300 reached in [...]
View the video here on your mobile device. The parliamentary budget watchdog is warning that Ottawa needs to make major changes if it’s to counter the financial impact of an aging Canadian population. Kevin Page says that with a smaller portion of Canada’s population of working age and paying taxes, the federal debt will keep [...]
View the video here on your mobile device. The Canada Revenue Agency is warning taxpayers to beware of a recent scam where some Canadians are receiving a letter fraudulently identified as coming from the CRA and asking for personal information. The letter is not from the CRA. The letter claims that there is “insufficient information” [...]
View the video here on your mobile device. The average Canadian family’s household debt climbed to $96,100 last year, according to a study released by the Vanier Institute of the Family. The study estimated the average debt-to-income ratio for families at 145 per cent. The institute said that’s the highest ratio ever recorded by the [...]
View the video here on your mobile device. Finance Minister Jim Flaherty is tightening mortgage rules to crack down on speculators and discourage homeowners from taking on too much debt. He is responding to growing concerns that Canada’s housing market is overheating, although he stresses that there is no bubble in Canada’s real-estate market – [...]
View the video here on your mobile device. A new report says Ottawa needs to break the “deadlock” in reforming the pension system by making changes in the March 4 budget. William Robson at the C.D. Howe Institute says the debate over how to encourage Canadians to save more for retirement is bogged down in [...]
View the video here on your mobile device. Fifty four per cent of Canadians expect their pensions – whether a pension from an employer (29 per cent) or a government pension (25 per cent) – to be the single, largest source of income in retirement, followed by income from their investments at 18 per cent, [...]
View the video here on your mobile device. CIBC World Markets says Canadian investors will likely return to RRSPs this year after fleeing from the retirement investment vehicles when economic conditions worsened. A CIBC report suggests that both female and younger investors will lead the way as significant contributors, though the report doesn’t provide any [...]
View the video here on your mobile device. The Ontario government launched a $1.6-million ad campaign on February 11 in a bid to provide more information about tax harmonization. Revenue Minister John Wilkinson says the print ads direct readers to a government website on the province’s tax reforms, which includes the controversial HST. He says [...]
View the video here on your mobile device. The CPP Investment Board is committing an additional $400 million to be invested in the Canadian private equity and venture capital market. The board manages a portion the Canada Pension Plan’s assets that aren’t required for current payouts to pensioners. CPPIB says the latest $400 million commitment [...]
