Daily News

Source: Financialpost July 20, 2024

'It remains tough going:' Bank of Canada will have to keep cutting to perk up weary consumers, economists say

Canadians are holding the line on spending as they struggle with higher interest rates and inflationNew retail sales data out on Friday showed Canadians are holding the line on spending as they struggle with the double whammy of higher interest rates and inf...

Source: Financialpost July 20, 2024

FP Answers: Is there any advantage to opening a RRIF account before age 71?

There are many reasons for starting early, including tax management, pension tax credit and moreReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on...

Source: Financialpost July 20, 2024

Posthaste: The 'great horizontal wealth transfer' is coming — and it could change a lot

Women set to inherit trillions in seismic shift in wealth ownership We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: The 'great horizontal wealth transfer' is coming...

Source: Financialpost July 20, 2024

For young people, the fastest route to home ownership runs through the trades

Robert McLister: If you want to own a home by age 40, trade school appears to be the way to goYou’re 18, fresh out of high school, and you’ve got home-buying dreams. We apologize, but this video has failed to load. Try refreshing your browser, ortap here...

News Source: Financialpost July 20, 2024

Freeland upbeat on economy amid Carney reports

Exactly how long the finance minister will be left in place to handle the world’s 10th-largest economy is a question markCanada’s finance minister says the country is on track for a soft landing, with inflation in retreat, interest rates on the way down and...

Economy Source: Financialpost July 20, 2024

Retail sales slump as high interest rates weigh on shoppers

Receipts for retailers fell 0.3 per cent in JuneCanadian consumers likely continued to tighten their belts in June after a sharp spending pullback in May, marking a weak first half of the year for retail sales in the country. We apologize, but this video...

Economy Source: Financialpost July 20, 2024

'Patch of turbulence' for markets, loonie expected this summer

Watch Karl Schamotta of Corpay discuss what's ahead for the Canadian economyKarl Schamotta, Corpay Inc. chief market strategist, talks to the Financial Post’s Larysa Harapyn about how central bank cuts might play out and how political rhetoric could roil mar...

Source: Financialpost July 19, 2024

Variable-rate borrowers poised to catch another break from Bank of Canada

Bond market says 85% chance of another rate cut next weekVariable-rate borrowers should catch another break from the Bank of Canada next week. The bond market is pricing in more than an 85 per cent chance of a 25 basis point rate cut on Wednesday. We apo...

Source: Financialpost July 19, 2024

Taxpayer gets burned after blindly relying on CRA’s website info

If you overcontribute, the CRA charges a penalty tax of one per cent for every month that any excess contributions stay in your accountReviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commissio...

Source: Financialpost July 19, 2024

Everything you need to know about the state of alcohol sales in Ontario

Since LCBO workers went on strike July 5, Ontarians have been wondering just how long and dry their summer might beNearly two weeks into the battle between striking LCBO workers and the province, the Ontario Public Service Employees Union (OPSEU) announced i...