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Freeland meets provincial and territorial finance ministers in Toronto

September 15, 2024 0 Comments

Deputy Prime Minister and Finance Minister Chrystia Freeland is hosting an in-person meeting Friday with the provincial and territorial finance ministers in Toronto to discuss issues including the current economic environment and the transition to a clean economy.

The meeting will focus on the economic situation both domestically and globally, according to a federal source with knowledge of the gathering, including discussions on how to provide incentives and supports to be competitive with the US’s Inflation Reduction Act.

US President Joe Biden’s Inflation Reduction Act includes electric-vehicle incentives that favor manufacturers in Canada and Mexico, as well as the US

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Finance

5 Types of People You Should Never Take Financial Advice From

August 11, 2024 0 Comments

All types of people love to give advice.

Some advisors may be professionals who watch the market on a regular basis. They may have a background in business and finance or be certified or licensed as financial planners. But there are also people who may want to give you advice with no financial background and/or who don’t understand your particular financial position.

Here are some people you shouldn’t be getting financial advice from – and how to choose a good financial advisor instead.

11 legit ways to make extra money

1. Family members

Your family may be well-intentioned when they

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Finance

Nasdaq jumps 2.7% as tech leads Friday inventory rally

July 10, 2024 0 Comments

US shares rallied on Friday, closing out the week on an upbeat be aware, led by robust positive factors within the tech sector.

The S&P 500 (^GSPC) completed Friday up 1.9%, although it nonetheless closed the week down 0.7%. The Dow Jones Industrial Common (^DJI) elevated 1.0% on Friday. The technology-heavy Nasdaq Composite (^IXIC) closed up 2.9%, its largest one-day acquire for the reason that finish of November.

The yield on the benchmark 10-year US Treasury be aware rose to three.482% from 3.397% Thursday. The greenback index was little modified.

The strikes up Friday closed out what had been a

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Finance

Ontario woman, 39, moved 3,400 kilometers to northern BC for a government job and bought two houses: ‘It was a huge move’

May 8, 2023 0 Comments

photo illustration by the globe and mail/iStockPhoto / Getty Images

Name, age: Sarah, 39

annual income: $48,000 salary plus $28,800 from rental income

Debt: $164,199 in mortgages; $5,600 on credit card

Savings: $1,500 in savings accounts; $37,690 in TFSAs; $40,400 in RRSP

What she says: civil servants

Where she lives: Northern BC

Top financial concerns: “I’d like to retire well before 68. I’d like to have $1.3-million in savings when I retire.”

In 2011, Sarah was facing a life-changing decision. She had a graduate degree but no job prospects in the northern Ontario city

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Finance

Don’t be fooled by these 9 common money myths, the finance gurus say

April 4, 2023 0 Comments

Simpleimages | Moments | Getty Images

It can be hard to separate financial facts from fiction.

CNBC polled eight personal finance experts to help answer one question: What are the biggest money myths out there for consumers?

Here are 9 of the top fallacies the financial gurus debunked.

Myth #1: Giving up a daily coffee purchase is a financial game-changer

Oleg Breslavtsev | Moments | Getty Images

You’ve likely heard this refrain: Buying that daily cup of coffee is killing your chances at burgeoning retirement wealth.

But savers don’t need to be so extreme or austere with their money decisions

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Finance

Depositors yank another $126 billion from US banks

April 1, 2023 0 Comments

Depositors drained another $126 billion from US banks during the week ending March 22, according to new Federal Reserve data. This time the outflow came from the nation’s largest institutions.

The biggest 25 banks lost $90 billion on a seasonally adjusted basis, according to the Fed. The smaller banks, which suffered massive withdrawals the previous week as regulators seized regional lenders Silicon Valley Bank and Signature Bank, were able to stabilize their outflows. They actually gained back $6 billion on a seasonally adjusted basis.

Total industry deposits fell to $17.3 trillion, down 4.4% from the same week a year ago.

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Finance

Eleven banks rescue First Republic Bank with $30 billion in uninsured deposits

March 18, 2023 0 Comments

Yahoo Finance crypto reporter David Hollerith joins Yahoo Finance Live to discuss the rescue plan for First Republic Bank.

Video Transcripts

– And let’s take a look at First Republic, which is trading lower in after hours after the market closed following the announcement that 11 of the nation’s largest banks are depositing $30 billion in the bank. Yahoo Finance’s David Hollerith has been following the story. David, what can you tell us?

DAVID HOLLERITH: Well, so, Ines, the deal is, you know, almost a dozen of the nation’s largest banks– and it’s sort of broken down in terms of

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Finance

Stocks soar after First Republic gets $30 billion injection

March 16, 2023 0 Comments

US stocks rallied on Thursday after a consortium of 11 of the biggest US banks banded together to inject $30 billion in capital into troubled bank First Republic (FRC) as the sector works to stave off a broader financial crisis in the wake of multiple bank failures since last Wednesday.

At the closing bell, the S&P 500 (^GSPC) was up 1.7% and the Dow Jones Industrial Average (^DJI) higher by 1.2%, while the tech-heavy Nasdaq Composite (^IXIC) led gains for the session, rising 2.5 %.

Late Thursday afternoon, 11 banking giants led by JPMorgan (JPM) and Bank of America (BAC)

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