Category: Finance

Canada’s financial watchdog releases guidelines to give mortgage holders tailored support

Posted on July 17, 2023
July 5 (Reuters) – Canada’s financial watchdog on Wednesday released new guidelines for lenders aimed at protecting mortgage holders facing high borrowing costs or who are at the risk of defaulting. The Financial Consumer Agency of Canada (FCAC) said federally regulated financial institutions, including banks, must work to help at-risk consumers by “providing tailored support” that could include measures such as waving penalties or other costs. The FCAC said two-thirds of mortgage holders are having trouble meeting their financial commitments. Canadians are facing the burden of high interest rates forcing them to either increase their monthly contribution or extend their…

OMERS, BCI risk reputation hit from Thames Water investments

Posted on July 12, 2023
Breadcrumb Trail LinksNews Investors FinanceUK utility fiasco plunges OMERS and BCI into the midst of a potential rescue plan Get the latest from Barbara Shecter straight to your inbox SignupPublished July 06, 2023 • Last updated 5 days ago • 3 minute readThe UK government has expressed serious concern about the financial plight of the country’s biggest privatized water company. Photo by BEN STANSALL/AFP via Getty ImagesArticle content A troubled water utility company in the United Kingdom that counts two of Canada’s biggest public pensions as large shareholders is facing regulatory scrutiny and fines for…

Stocks end lower amid China headwinds, Fed minutes: Stock market news today

Posted on July 7, 2023
Stocks ended Wednesday’s session lower as traders returning from the Independence Day broke eyed headwinds for the global economy and combed through the release of the Federal Reserve’s minutes from its June meeting. The S&P 500 (^GSPC) finished down 0.2%, while the Dow Jones Industrial Average (^DJI) slipped by around 0.3% or about 100 points. The tech-heavy Nasdaq Composite (^IXIC) fell 0.1%. A surprisingly sharp fall in Chinese services activity stoked concerns about the health of the world’s second-biggest economy, against a backdrop of building tensions in the US-China trade war. The minutes from the Fed’s June meeting showed that…

Quebec premier defends politicians’ salary increase

Posted on June 27, 2023
Breadcrumb Trail LinksWork NewsBase pay would go from $101,561 to $131,766Author of the article:The Canadian Press Patrice BergeronPublished May 15, 2023 • 2 minute readQuebec Premier Francois Legault responds to reporters’ questions at a news conference before the question period at the legislature in Quebec City, Tuesday, May 9, 2023. Photo by Jacques Boissinot/The Canadian PressArticle content SHERBROOKE, Que. — Courage was necessary to move forward on raising the salaries of provincial politicians by $30,000, Quebec Premier Francois Legault said on May 13 as unions demonstrated outside his party’s convention to demand a…

The top 4 questions to add to your Business Travel tender in light of the pandemic

Posted on June 27, 2023
The current global pandemic has had an impact on all of our lives in some way and will inevitably influence the evolving shape of business travel as we look forward to being able to travel more freely in the not too distant future. There is no doubt that your business will now have lots more to consider as your employees start to hit the road again and it’s crucial that as you start to look at travel again, you ask the right questions within your tender to make sure your new supplier can fully support you in these uncertain times.…

We’re seeing ‘violent’ incidents in our stores, and it’s costing us millions

Posted on June 22, 2023
Target (TGT) has become a target for major thefts, and it’s taking a huge chunk out of profits. The retailer estimated in its earnings release Wednesday that inventory shrinkage — mostly the theft of merchandise — would clip profits by a whopping $500 million this year. Factoring in an about $700 million profit hit from inventory shrinkage in 2022, the Target is on pace to see $1.2 billion in profits go up in smoke, due primarily to organized retail crime. Target Chairman and CEO Brian Cornell says the problem is getting worse, is nationwide, and across various merchandise departments. “The…

As inflation ticks up in Canada, here is how much food prices went up in April

Posted on June 17, 2023
Overall food prices increased 8.3 per cent in April, according to Statistics Canada. (Lance McMillan/Toronto Star via Getty Images)Food prices in Canada remained elevated in April, even as price growth slowed in restaurants and grocery stores. According to Statistics Canada’s latest Consumer Price Index (CPI) report, food prices, which include groceries and food from restaurants, increased 8.3 per cent in April. That’s down from the 8.9 per cent year-over-year increase posted in March. Restaurant prices increased 6.4 per cent, a slowdown from the 7.2 per cent increase in March. The price of food purchased from grocery stores increased 9.1…

Click supports CIPD’s Flex from 1st campaign

Posted on June 17, 2023
Click Travel prides itself on its employee perks and benefits; from offering employees additional purchased leave, to receiving travel discounts and a packed social events calendar. Flexible working has always been present among the many benefits offered by the company, with over 70% of employees either working part-time/flexible hours or working from home on a regular basis. This month Click has taken another step forward with flexible working, introducing flexible working requests from day one of employment, rather than after 26 weeks, supporting CIPD’s Flex from 1st campaign.   What does this mean for Click? Click has grown by an…