Mo' Money, Mo' Problems: Even The Wealthy Are Worrying About Their Financial Future - [2022-10-08 30O2Od]

in economy •  2 years ago 

B.C. couple who used home as ATM in a cash crunch amid housing downturn: Andrew Allentuck


Rising interest rates have dealt this B.C. couple a double whammy as they try to sell their home and buy a new one. Find out more.

Opinion: Climate extremists don’t speak for Indigenous groups: Special To Financial Post


They behave like modern-day colonialists when they impose their agendas on communities. Read on

More interest rate hikes on the way: What economists say about Canada's jobs numbers: Gigi Suhanic


Flat jobs reading points to more action from the Bank of Canada, economists predict

Canada's unemployment rate drops to 5.2%: What you need to know: Kevin Carmichael


Employment was little changed, but wages rose 5.2 per cent from last year, Statistics Canada said. Find out more.

Lundin Mining faces $13-million fine as Chile files charges linked to sinkhole: Naimul Karim


Lundin Mining Corp. is facing four charges from Chile's environmental watchdog related to a sinkhole at a copper mine in July. Find out more.

Rocket man: It could take a long, long time, but startup has lit the fuse for a NASA north: Joe O'Connor


A former U.S. space agency engineer is on a mission to build a commercial spaceport in Nova Scotia. Read more here

Five reasons bad news is not always bad news for investors: Peter Hodson


Peter Hodson offers five thoughts to help ensure you are not selling at the exact bottom of this market cycle. Read more.

FP Answers: What should I do with a $275,000 payout from my critical illness insurance policy?: Julie Cazzin


Justine wonders whether she should add money to her TFSAs, RRSPs or RESPs, or is it best to pay down her mortgage? Read the answer.

TFSA rules land two more taxpayers in hot water with the CRA: Jamie Golombek


Jamie Golombek: The cases involved an overcontribution and the constitutionality of the TFSA's 100-per-cent advantage tax

A burning Alberta bridge stalls grain shipments, showing the fragility of Canada's supply chains: Jake Edmiston


The bridge severed the only rail link in or out of Grand Prairie, causing backlogs for grain shippers. Read more.

Are You Having an Ideal, Disengaged or Toxic Day? It Matters...: Arianne Cohen, Bloomberg News


Are You Having an Ideal, Disengaged or Toxic Day? It Matters... (First column, 11th story, link) Related stories:What petting dog can do for brain... Drudge Report Feed needs your support! Become a Patron

Canadian Tire permanently cuts ties with Hockey Canada over sexual assault allegations: Bianca Bharti


Canadian Tire says Hockey Canada 'continues to resist meaningful change' in its decision to permanently end the partnership. Read more.

OSC head promises 'most serious consequences' for crypto companies encouraging VPN use to avoid rules: Barbara Shecter


There are suggestions that global crypto companies may be enticing Ontario investors to avert rules by masking their location. Read more.

Low-flying loonie means interest rates could stay higher for longer: Stephanie Hughes


Lagging Canadian dollar is making the Bank of Canada's inflation fight that much harder

Not enough workers to build homes needed to address housing affordability: CMHC: Shantaé Campbell


There is only enough labour to build 2.3 million new dwellings by 2030, well shy of the 3.5 million the agency says is needed. Read more.

'Canada will get left behind': U.S. incentives for carbon capture could lure investment south: Meghan Potkins


Biden's new climate package outstrips what's on offer from Canada in terms of tax credits and price assurances. Find out more.

Big Six banks' price targets slashed by Bay Street analyst: Stephanie Hughes


Canadian banks face higher provisions for bad loans and an increase in debt-servicing costs, the Veritas analyst says. Read on.

There's only five paycheques to Christmas so start budgeting now: Special to Financial Post


Just like Santa, it’s all about your list. Read on

Suncor sells wind, solar assets to focus on hydrogen, renewable fuels: Reuters


Suncor sells wind, solar assets to focus on hydrogen, renewable fuelsfinancialpost.com

House committee to probe big grocers' profits, prolonging industry's PR struggle: Jake Edmiston


Michael Medline said the push is based on a faulty political narrative meant to 'score some points' in Ottawa. Read more.

Baffinland gets a green light to continue mining in Nunavut, saving more than 1,000 jobs: Naimul Karim


Regulator approves higher extraction limit with clock ticking on layoffs. Read more here

Mo' money, mo' problems: Even the wealthy are worrying about their financial future: Ted Rechtshaffen


There's a list of problems that are only created with more money, writes Ted Rechtshaffen. Read more.

Pension fund strategy that caused U.K. chaos less prevalent in Canada, insiders say: Barbara Shecter


The bond market meltdown dredged up memories of the 'death spirals' of the 2008 financial crisis. Read more here

Meet Loblaw's driverless trucks, now making e-commerce deliveries around the Toronto area: Jake Edmiston


The fleet of five trucks are the first autonomous commercial delivery vehicles in Canada. Find out more.

From scrap metal dealer to billionaire: How Anil Agarwal built one of the world's largest mining companies: Gabriel Friedman


Anil Agarwal is an Indian billionaire and founder and chairman of Vedanta Resources Ltd. Listen to episode 169 of Down to Business.

Toronto home sales down 44.1% from a year ago in September: Shantaé Campbell


New listings were also down on a year-over-year basis by 16.7 per cent, according to TRREB data. Find out more.

Nursing Shortage Sparks Bidding War as Countries Vie for Talent...: Kanoko Matsuyama and Andreo Calonzo, Bloomberg News


Nursing Shortage Sparks Bidding War as Countries Vie for Talent... (Second column, 19th story, link) Related stories:NIH awards new grant to org at center of covid lab leak controversy... Germaphobe Howard Stern leaves 'apocalypse bunke…

Centerra stock pops after miner announces share buyback, extends life of a B.C. mine: Naimul Karim


Centerra said it would purchase about 7.1 per cent of its outstanding 220 million shares. Find out more.

Employers are missing out on this pool of potential employees eager to work: Victoria Wells


Victoria Wells: Mothers of young children want to work, but they face barriers fathers don't, says a C.D. Howe study

Pipeline giant TC Energy to build $146-million solar farm in southern Alberta: Meghan Potkins


Saddlebrook Solar Project will be the company's first solar power project, with a capacity to generate 81 megawatts. Find out more.

Calgary housing market keeps cooling in September: Shantaé Campbell


Sales and new listings were down for the sixth straight month and benchmark prices dipped slightly from August. Find out more.

David Rosenberg: Equities are generally not pricing in a recession yet, but one asset class is: David Rosenberg


Canadian equities likely have a bit further to fall, but won't decline as much as in prior recessionary periods. Read more.

Reunited might not feel so good if you signed a prior separation agreement: Special to Financial Post


Reconciling can be legally complicated. Read more here

Sure, you have insurance, but, like most, it's probably not enough: Special to Financial Post


About 67 per cent of Canadians have private insurance, but your employer's group benefits likely won't cover all scenarios

LNG Canada, country's $40-billion 'second chance' at becoming a global LNG leader, takes shape: Meghan Potkins


More than 70% complete, LNG Canada promises to unlock the full economic potential of Canada’s rich gas reserves for the first time. Read on.

Eric Nuttall: The bullish supply-demand case for oil — looming recession aside: Eric Nuttall


Prices have fallen 33 per cent since the summer, writes Eric Nuttall. Read more.

CEOs are convinced a recession is coming, but small businesses aren't so sure: KPMG: Denise Paglinawan


Entrepreneurs are being less aggressive when it comes to taking pre-emptive measures, studies suggest. Find out more.

Legault set to win Quebec election to dismay of Montreal business community: Marisa Coulton


The premier's views on immigration have created a gulf between him and employers. Find out more.

If open banking is for consumers, why are they missing from the discussion?: Special to Financial Post


Canadians, the core stakeholders set to benefit from data mobility rights, are an afterthought, write Vass Bednar and Robert Fay. Read on.

Canada need only look to Australia to see how Liberals have messed up: Diane Francis


Australia is economically superior to Canada and is a social democracy with the same health and social benefits, says Diane Francis. Read on.

Air Canada adds U.S. direct flights from Halifax, Vancouver: Denise Paglinawan


New routes will expand capacity to six per cent above pre-pandemic levels for summer 2023

It's a scary time for investors, but they need to find the courage to face their fears: Martin Pelletier


Those who face their fears when things are at their scariest always end up with the most candy, writes Martin Pelletier. Read more.

These money-saving strategies can help investors make the most of a very bad year: Jason Heath


Jason Heath: You can earn a guaranteed return on your investments whether markets rise or fall. Find out more.

Alberta man hopes $1.2-million net worth will go further in Mexico retirement: Andrew Allentuck


There are many unknowns in this income forecast. Read on

Mark Carney says net-zero impossible without nuclear power: Layan Odeh, Bloomberg News


Mark Carney says net-zero impossible without nuclear powerfinancialpost.com

Kevin Carmichael: Acute labour shortages about to become chronic source of economic pain: Kevin Carmichael


Kevin Carmichael: There are ways to increase the size of Canada's labour force, but politics will get in the way. Read more.

Tom Bradley: No doubt Warren Buffett is doing some buying now: Tom Bradley


Most investors don’t follow Warren Buffett’s lead. They procrastinate and miss the opportunities. Tom Bradley suggests a better way

FP Answers: How can I better achieve my goals as set out in my financial plan?: Julie Cazzin


Financial planning is an ongoing, iterative process, not a one-time event. Read on.

CMHC to forecast steeper housing price decline of 10-15%: Barbara Shecter


The federal agency had earlier predicted a drop of 5% by the middle of 2023. Read on

Grocers under growing political pressure as NDP pushes for investigation of 'profit-driven inflation': Jake Edmiston


Motion for probe evidence of a growing public relations problem for Canada's big grocers amid soaring food inflation

Noah Solomon: Six self-defeating behaviours that get investors suboptimal results: Special to Financial Post


Data, math and a logical decision-making process lead to superior results over the long term, writes Noah Solomon. Read more.

'Nonsensical': Court finds CRA unreasonable in ordering woman to pay back CRB: Jamie Golombek


A Federal Court judge found the CRA's decision to deny the woman CRB unreasonable and "nonsensical," writes Jamie Golombek. Find out more.

Contraction 'only a matter of time': What the GDP numbers say about Canada's economy: Gigi Suhanic


Canada's economy avoided contraction in July, expanding 0.1 per cent. Read what the economists say

Canadian economy grows slightly in July: Reuters


An economic slowdown was widely expected. Read more.

LNG Canada CEO says case for doubling export capacity 'very strong': Meghan Potkins


Liquefied natural gas export terminal in Kitimat B.C. is on track for first deliveries by the middle of decade. Read more

Legault says more immigration would be 'suicidal,' creating a flashpoint with Quebec businesses: Marisa Coulton


Executives are at odds with Quebec Premier François Legault when it comes to immigration. Read more.

Enbridge to sell stake in seven pipelines to Indigenous groups: Naimul Karim


Enbridge Inc says deal is the largest energy-related Indigenous economic partnership transaction in North America to date. Read on

Retailers call on Ottawa to implement GST rebate for tourists: Bianca Bharti


Could result in an additional $407 million in revenue

CPPIB flexes its muscle in board rooms around the world to stem climate change: Barbara Shecter


Canada Pension Plan Investment Board pushed 35 companies to improve climate-related disclosures and practices. Read more on CPPIB

Matthew Lau: Cutting CBC would give twice: Matthew Lau


The benefits to Canadians of defunding the CBC likely would greatly exceed $1.4 billion annually. Read more.

Opinion: Tide may be turning towards greater economic freedom: Special To Financial Post


Canadians will have the opportunity to make their voices heard on economic freedom in the next federal election. Read more.

The risky business of carbon capture in Canada: Gabriel Friedman


Episode 168 of Down to Business podcast

Average monthly rents in GTA rise 21% in August over last year: Shantaé Campbell


Rent for all property types was up $430 to $2,528 from $2,098 in August 2021. Read more.

NDP to call for investigation of grocery profits amid allegations of 'greedflation': Denise Paglinawan


NDP members have been trying to pin rising food costs on grocery chain CEOs, blaming 'corporate greed' for driving inflation. Read more.

David Rosenberg: Make no mistake, the Fed is guiding us into a credit crunch: David Rosenberg


Tightening into monetary contraction, a soaring dollar and a deeply inverted yield curve are prelude to market crash

The four-day workweek comes to Canada: Joe O'connor


Joe O'Connor, CEO of 4 Day Week, has come to Canada to preach the gospel of a shorter workweek and the benefits it brings. Read more.

Shopify targets physical retailers after an overly aggressive bet on e-commerce: Bianca Bharti


Canada's largest e-commerce company will start selling new hardware for brick-and-mortar retailers. Read more.

Scotiabank's Brian Porter to retire, Finning CEO named to take helm: Barbara Shecter


Scott Thomson comes from outside Scotia’s executive team, a rare transition in Canada’s tight-knit banking world

OECD predicts Bank of Canada will hike interest rate to 4.5% in 2023: Pamela Heaven


Global economic agency also cuts growth forecast to 1.5% next year

Atlantic Canada begins long cleanup after Fiona leaves 'unprecedented' trail of destruction: Gabriel Friedman


'There's trees down everywhere. Roofs blown off people's houses and businesses and some community infrastructure'

What investors can do instead of betting on central banks to stop hiking rates: Martin Pelletier


Martin Pelletier: Investors need to do more than simply 'wait it out' for central bankers to slow their tightening. Read more.

It's the economy, stupid: FP videos on what Canadians care about: Financial Post Staff


FP's top videos turn the spotlight on the economy and how Canadians are coping. Have a look

US spy satellite launched into orbit from California - Financial Post: The Associated Press


VANDENBERG SPACE FORCE BASE, Calif. (AP) — A classified satellite for the U.S. National Reconnaissance Office launched into orbit aboard a United Launch…

Ontario man faces pre-retirement cash crunch while paying daughter's $72K grad-school tuition: Andrew Allentuck


But a government pension will ensure a secure, prosperous retirement, a financial planner says. Read more about Ken's retirement plan.

OSC scrutinizing audit accounting firms after 'ethical violations' in U.S., U.K.: Barbara Shecter


The OSC is targeting information about internal policies and procedures at audit firms. Find out more.

Global market storm gathers force as virtually no asset class is spared: Stephanie Hughes


Stocks markets including the S&P 500, Dow and Nasdaq fell as inflation and rising interest rates fuelled fears of recession. Read on

Kevin Carmichael: Persistent labour shortages may prove a bittersweet victory for workers: Kevin Carmichael


Workers are set to to see pay gains, but will they be any better off than when wages were suppressed? Read Kevin Carmichael's latest.

Posthaste: Gen Z, millennials relying on 'bank of mom and dad' to meet financial goals: Noella Ovid


Posthaste: Gen Z, millennials relying on 'bank of mom and dad' to meet financial goalsfinancialpost.com

Canada's creator economy is finally getting support after years of neglect: Bianca Bharti


Canada's creator economy is growing as more homegrown creators turn content into cash. Read more.

FP Answers: What is a pension bridge and should I take it?: Julie Cazzin


You need to think lifetime lifestyle and insurance to help guide your decision. Keep reading here

Attendance was high, but spirits were not: Five takeaways from the MoneyShow: Peter Hodson


Peter Hodson: Every investor had one thing on their mind — inflation. Read more.

Instagram down for thousands of users - Financial Post: Savyata Mishra, Reuters


  1. Instagram down for thousands of users Financial Post
  2. Instagram is experiencing issues right now MobileSyrup
  3. Instagram testing latest feature to ruin your experience (yes, it’s an outage) 9to5Mac
  4. Instagram back up after…

    Block brings buy now, pay later to Canada: Bianca Bharti


    BNPL is now available tp Block's vendors and shoppers following successful launches in U.S. and Australia. Find out more.

    In these high-cost times, it's especially crucial to teach kids savvy money skills: Special to Financial Post


    Start the process as soon as your youngsters begin asking you to buy them things. Read on

    David Rosenberg: Slumping equity risk premiums mean there is more bear market to come: David Rosenberg


    It's been an unusual selloff period compared with history. Red more here

    Couche-Tard goes on food marketing push to break fuel dependency: Mathieu Dion, Bloomberg News


    The goal is to increase fresh and prepared food to 20 to 25% of North American sales from its current 11%. Read on

    Posthaste: Canada should go hard on wind and solar, but keep natural gas in the mix: report: Gigi Suhanic


    Posthaste: Canada should go hard on wind and solar, but keep natural gas in the mix: reportfinancialpost.com

    Inflation tops list of concerns for Canadian businesses in third quarter: survey: Stephanie Hughes


    Canada's year-long struggle with inflation is putting a strain on business owners. Read more.

    U.S. Fed delivers third-straight supersized hike, with more increases ahead: Bloomberg News


    The Fed signalled more large increases to come in new projections showing its policy rate rising to 4.4% by the end of this year. Read on.

    U.S. Federal Reserve hikes rate 75 bps: Read the official statement: Financial Post Staff


    Federal Open Market Committee raised the interest rate 75 basis points. Find out more

    Lower rate of Canadians own homes despite increase in household incomes: Shantaé Campbell


    Canada's homeownership rate declined to 66.5% after peaking in 2011 at 69%, according to a Statistics Canada release. Read more.

    Want to take on the CRA? Jamie Golombek shares his own fight with the taxman: Jamie Golombek


    Jamie Golombek details his dispute with the CRA over work-from-home expenses and how it was resolved. Read more.

    Sorry crypto folks, Poilievre doesn’t want to be friends anymore: Special To Financial Post


    Ethan Lou: Politically speaking, crypto was the one mistake Pierre Poilievre made in an otherwise well-executed campaign. Read more.

    EV sector could mean a quarter of a million jobs and $50 billion a year to Canada: Gabriel Friedman


    What it would take for Canada to establish an EV supply chain and what it would mean to the economy. Listen in


    [news curation]@wakanda-forever



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