NEWS

Why few bank fraud complaints lead to compensation

Sarah Bradley, the ombudsman and CEO at Ombudsman for Banking Services and Investments, responds to a report that found only a quarter of banking complaints resulted in monetary compensation in 2023.

Average net worth of Americans by age — see how you compare

Inequality worsening as wealth gap widens to highest since 2015: TD Bank report

TORONTO — The gap between the highest earners and lowest income groups last year was at its widest since 2015 as the wealthiest households saw income grow much faster than lower-income Canadians. Higher interest rates are pushing middle- and lower-income households to spend more conservatively, which means consumer spending by the top earners will ...

Trump lawyer Alina Habba fumes civil fraud hearing ‘wasted time and money’ after bond deal reached

Trump lawyer Alina Habba fumes civil fraud hearing ‘wasted time and money’ after bond deal reached - Alina Habba fumed that Letitia James thinks ‘our cash somehow isn’t green enough’ before she switched courtrooms and joined Donald Trump in criminal court for his hush money trial

Canadian dollar gains for fourth day as Wall Street rebounds

By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened to a 10-day high against its U.S. counterpart on Monday as risk appetite improved and after domestic data showed new home prices stabilizing in March. The loonie was 0.4% higher at 1.3695 to the U.S. dollar, or 73.02 U.S. cents, adding to its winning streak since Wednesday and trading at its strongest level since April 12. "

Switzerland reveals amount of frozen Russian assets

As of December 31, 2023, the value of financial assets frozen due to sanctions against Russia amounted to CHF 5.8 billion (USD 6.4 billion). In addition, 17 real estate properties have been blocked, reports the government department responsible for compliance with sanctions (SECO). The latest data show that the value of frozen financial assets fell...

Matthew Green, MP for Hamilton Centre, questions Liberal government on soaring gas prices

Matthew Green, MP for Hamilton Centre, was looking for answers, from the Liberal federal government on Thursday, to a question about why gas prices soared across Canada Wednesday night.

What's cheaper, EV or gas? This scholar crunched the numbers

Where you live and how much you drive each day matters when it comes to the cost-effectiveness of an electric vehicle, compared to gas. to A new UBC study crunches the numbers.

Manifesting Money Wasn’t Working For Me, So I Successfully Turned To Loud Budgeting

Like many of my past relationships, my relationship with money is fraught, complicated, and a huge, bright red flag. And yet, I care about money so much. Still, as a millennial, having had to navigate a recession at every pivotal point of my adult life, money has never appeared to care about me. “It’s because you have a scarcity mindset,” a friend said to me over expensive wine I said I couldn’t afford. “The reason you’re bad with money is that...

PepsiCo's results beat as international demand, higher prices drive growth

By Ananya Mariam Rajesh (Reuters) -PepsiCo beat Wall Street expectations for first-quarter revenue and profit on Tuesday as demand for its sodas and snacks like Cheetos and Doritos in international markets drove growth even as it witnessed a slowdown in the United States. Consumers across Europe, Asia Pacific and China shelled out money for PepsiCo's pricey sodas and chips, while customers in

Practical tips for renewing your mortgage in 2024

Personal finance adviser Rubina Ahmed-Haq shares some tips about how to handle renewing a mortgage at a higher rate.

U.S House passes vote on $61B foreign aid package for Ukraine

After months of stalemates and dysfunction, the U.S House of Representatives votes in favor of sending $61B in foreign aid to Ukraine. Karling Donoghue with why some representatives are not pleased with the vote, and what this means for Ukraine.

Business Report: Taylor Swift breaks more records

Taylor Swift's new album continues to break records. Plus, a major automaker picks Ontario for electric vehicle production, and investors gear up for a big week on the markets. Business Editor Kris McCusker explains.

Stocks gear up for Big Tech earnings; yen sits near danger zone

By Amanda Cooper LONDON (Reuters) - Global shares rose on Tuesday, driven by a recovery on Wall Street, where investors focus on earnings reports from the U.S. megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials. The MSCI All-World index, which on Friday hit a two-month low, was up 0.3%, lifted by gains in Europe, where the FTSE 100

How to Earn $14,000 Per Year in Tax-Free Income and Maximize Your CPP Payout

The difference between the maximum and average CPP payout is $1,094/month. To collect the maximum CPP, you need an alternate source of income. The post How to Earn $14,000 Per Year in Tax-Free Income and Maximize Your CPP Payout appeared first on The Motley Fool Canada.

No such thing as a free lunch ... or maybe a free day trip to Venice anymore, either

Mass tourism has placed such a strain on Venice that the city will be imposing a visitor's fee for 29 high-traffic days this year, starting April 25, to dissuade daytrippers and curb the growing number of tourists. Exemptions will apply to locals, commuters, people who pay property tax in Venice, visitors who stay overnight and those participating in sporting events, but some exemptions must be registered online. While this may only be a trial period, the results will be used to tweak the program with the goal of making it permanent.

Moving jobs this often helps you climb the career ladder and earn more money

Olympics 2024: Track and Field to be 1st sport to introduce prize money for gold-medal winner

With just months away from the Summer Olympics in Paris, athletes from around the world will be vying for Olympic glory and gold. Usually, those are the only prizes any victorious Olympian will be walking away with — but one Olympic sport will soon raise the stakes by putting money on the table. Mike Drolet explains the historic change.

TFSA Traps: Common Mistakes That Can Cost You Thousands

TFSA users are advised to avoid common mistakes and not pay unnecessary and costly tax penalties. The post TFSA Traps: Common Mistakes That Can Cost You Thousands appeared first on The Motley Fool Canada.

Ontario government faces lawsuit over cancellation of basic income pilot

Members of a class action lawsuit against the Form government for its cancellation of the Ontario basic income pilot are seeking $200M in damages. Jaden Lee-Lincoln explains.

Business Matters: New condo sales in the Greater Toronto Area fall 71% below 10-year average

New condo sales tumbled 71 per cent below the 10-year average in the first quarter of this year according to analysis by Urbanation. Anne Gaviola has more on what’s happening in Business Matters for Monday, April 22, 2024.

Average US annual salary by age revealed – see how you compare

How Much Cash Do You Need to Stop Work and Live Off Dividends?

Want to retire early? Here's how much cash you might need to quit work and live off your investment income. The post How Much Cash Do You Need to Stop Work and Live Off Dividends? appeared first on The Motley Fool Canada.

Breaking down the capital gains tax changes

The federal government unveiled billions in spending in its 2024 budget, and to help pay for it all, it’s proposing changes to how capital gains are taxed. CBC’s Nisha Patel breaks down how it works and who will be affected.

How to Decrease Your Taxable Income and Still Make Money (and it’s Legal!)

There are legal ways to bring down your taxable income and put that extra cash towards your future. Plus, create passive income for life! The post How to Decrease Your Taxable Income and Still Make Money (and it’s Legal!) appeared first on The Motley Fool Canada.

Biggest mistakes that could tarnish, or even tank, your credit rating

Before reaching financial milestones such as a car, home, or savings account, a credit rating might be the only thing young people own. “Credit is a highly valuable asset,” says Ed Rempel, a fee-for-service financial planner, tax accountant and author of the blog Unconventional Wisdom. “In fact, it is your main asset until you can build up other in...

Billionaire Igor Makarov wants off Canada's Russia sanctions list

Shortly after Russia's full-scale invasion of Ukraine in 2022, Canada issued a slew of sanctions, freezing the assets of alleged Russian oligarchs. Nine people have since been removed from the list, and billionaire Igor Makarov is also trying to get dropped. But as Jeff Semple reports, Makarov's plan may have backfired.

How to protect yourself from fraud

Technology has made a significant impact on how prolific and sophisticated scam attempts have become. Erica Natividad speaks to an expert on how to avoid becoming a victim.

Oil prices stabilise, Middle East tensions remain in focus

By Mohi Narayan NEW DELHI (Reuters) -Oil prices edged higher on Tuesday, after falling in the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East. Global benchmark Brent crude oil futures traded 18 cents higher at $87.18 a barrel by 0634 GMT, and U.S. West Texas Intermediate crude futures also gained 16 cents to $82.06 a barrel. Both

UBC study on break-even point for owning EVs

If you're wondering whether the gas savings are worth the extra money you'd spend on an EV, a new UBC study has some answers for you. Rumina Daya reports.

Critics question sustainability of spending in federal budget

Local Members of Parliament and advocacy groups are questioning the sustainability of the spending levels in the federal budget. The budget was unveiled last week. “Overall, we’re seeing huge amounts of spending for the federal government that keeps saying that they’re being fiscally responsible without any evidence of that,” Gage Haubrich, Prairie...

Study reveals how much Americans really spend on tipping each year

4 Ways to Grow $100,000 Into $1 Million in Retirement Savings

Anyone can build a million-dollar retirement portfolio. Here are four ways you could practically grow $100,000 to $1 million. The post 4 Ways to Grow $100,000 Into $1 Million in Retirement Savings appeared first on The Motley Fool Canada.

Dollar hits new 34-year peak against yen on higher US rate outlook

By Gertrude Chavez-Dreyfuss and Alden Bentley NEW YORK (Reuters) -The U.S. dollar hit a fresh 34-year high against the yen in subdued trade on Monday, with market participants taking their cue from the Federal Reserve's higher-for-longer interest rate stance, even as they remained alert to any signs of intervention by Japanese authorities to prop up the struggling yen. The dollar hit a fresh 34-

Here’s the Average Retirement Income for Canadians: How Do You Rate?

If you're worried about how much you'll earn in retirement, increase your income by investing in an ETF like this one. The post Here’s the Average Retirement Income for Canadians: How Do You Rate? appeared first on The Motley Fool Canada.

What it takes to keep a restaurant afloat in Vancouver

Restaurateur Haitham El Khatib of Aleph Eatery says he approaches his businesses like it's a tech company — from hiring practices to people management to using technology to better understand revenue and expenses.

Norway announces significant increase in military aid to Ukraine

Espen Barth Eide, the Minister of Foreign Affairs of Norway, announced that Norway plans a "significant" increase in aid to Ukraine. The amount has yet to be determined and will be discussed in the near future, according to Le Monde. He noted that "it is about a significant increase, which is relevant compared to what we have done so far." Accordin...

According to experts, these are the essential skills you should develop at work this year

We're ready to take on 2024.

If you're retired or about to retire, think carefully about your tax strategy

NEW YORK (AP) — Coming up with the best tax strategy in retirement can be much trickier than it seems, and tax pros agree it's a time when people need to be especially careful to look at their entire financial picture before deciding on a things like 401(k) withdrawal amounts and timing, or when to begin taking Social Security. “It’s the biggest ch...

How to Build a Bulletproof Monthly Passive-Income Portfolio With Just $20,000

Income-seeking Canadian investors can consider holding shares of REIT such as Dream Industrial to create a passive-income stream. The post How to Build a Bulletproof Monthly Passive-Income Portfolio With Just $20,000 appeared first on The Motley Fool Canada.

‘Trying not to die’: Tourism operators face heavy debt, even as business roars back

Maureen Gordon has weathered hard times before. She and her husband began running ecotourism outfit Maple Leaf Adventures out of Vancouver about a month before the 9/11 terrorist attacks devastated international travel in 2001. The rebound was relatively quick. Fallout from COVID-19 has proven much more prolonged. “The pandemic of course was incred...

Premiers lash out at Trudeau over budget

This week’s federal budget has premiers lashing out at Prime Minister Justin Trudeau over a planned increase to capital gains taxes as well as what they say is overstepping on infrastructure and pharmacare.

Verizon posts fewer quarterly subscriber losses on flexible plan demand

By Harshita Mary Varghese (Reuters) -Verizon lost fewer-than-expected wireless subscribers and beat estimates for quarterly profit on Monday, thanks to its flexible plans and streaming bundles offering discounted pricing for services such as Netflix and Warner Bros Discovery's Max. The telecom firm lost 68,000 monthly bill-paying wireless phone subscribers between January and March - a

Psychologist explained how to maintain passion in long-term relationships

At the beginning of a relationship, there is a passionate stage for every couple when you simply can't get enough of each other. However, with time, this fades, and many couples encounter a loss of interest. What can help maintain passion in relationships, according to psychologist Dmytro Ostapenko. How to keep passion alive in long-term relationsh...

The five decor mistakes that are making your home look cheap

Have you got any of these in your home?

I Paid My Way Out of $20K in Debt — Here’s How I Learned To Spend Money On Myself Again

Every milestone is worth celebrating, no matter how big or small. That’s why we partnered with Shane Co., purveyors of timeless fine jewelry, to highlight the unique stories of those celebrating special life moments. Whether they found success in following their passions or are embarking on the next chapter of their journey, we’ll learn how these individuals are commemorating each milestone — and the role their jewelry can play in marking these...

Annual home prices predicted to rise nearly 10% by end of year: Royal LePage

A realty firm is making a grim prediction about home prices in Canada, forecasting a big jump by the end of the year. Global's Nathaniel Dove explores why prices might go up.

Oprah Winfrey and Dwayne Johnson pledged $10M for Maui wildfire survivors. They gave much more.

Lana Vierra misses the swing set at her Lahaina home, which was reduced to ashes in the wildfires that swept through her community last summer. “Multiple generations went through there playing in my front yard," she said. "Just with the animals and the turtles and the deer and goats that we once had in that little tiny yard.” A grandmother of four ...

Business News: Impact of capital gains tax changes

The Liberals tabled the federal budget this week, and among the major changes was to how capital gains are taxed. The tech sector are the latest to speak out against the proposal. Financial analyst Robert Levy talks about the impact it could have on Canadians.

Top 6 US industries where you can earn the most money