Industry

Decorative pattern

America not recovering, despite economists’ previous predictions

It was just a few months ago that Canadian economists thought America’s financial misfortunes would turn around in the second half of this year. But according to a new report by Scotiabank, those predictions were premature. “Don’t expect a U.S. recovery anytime soon,” says Warren Jestin, Scotiabank’s chief economist. “The core message in our report […]

By Bryan Borzykowski |July 21, 2008

4 min read

Decorative pattern

Briefly:

(July 18, 2008) Not content to wait for the federal government to take the lead on climate change, RBC Capital Markets has announced its entry into the global market for trading greenhouse gas (GHG) emissions. “We are a market-making provider, taking principal risk, providing pricing liquidity and facilitating hedging for clients,” said Mike MacBain, head […]

By Staff |July 18, 2008

3 min read

Decorative pattern

Surging resources mask weakness in Canadian equities

According to a report released last Friday by CIBC World Market’s economist Meny Grauman, the S&P/TSX Composite Index seems to have decoupled itself from the major U.S. markets. Grauman highlights that, during the last five bear markets, the Canadian stock market has marched lock-step with the S&P 500. This is no longer the case. “The […]

By Mark Noble |July 18, 2008

5 min read

Decorative pattern

Briefly:

(July 17, 2008) Reports of the housing market’s demise may have been premature. According to a new survey conducted by Royal LePage Real Estate Services, housing prices are actually expected to increase by 3.5% by the end of the year. The survey says Halifax will be the strongest market, with the value of a standard […]

By Staff |July 17, 2008

3 min read

Decorative pattern

BoC expects Canada to weather the storm

The BoC outlined three major factors affecting the Canadian economy: protracted weakness in the U.S. economy, ongoing turbulence in global financial markets and sharp increases in the prices of certain commodities, most importantly, energy. In its April Monetary Policy Report, the BoC had anticipated the impact of the first two factors. It admits the continued […]

By Mark Noble |July 17, 2008

4 min read

Decorative pattern

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(July 16, 2008) Quebec’s Autorité des marchés financiers is defending its turf before the Expert Panel on Securities Regulation, dubbing the call for a single regulator “a needless proposal.” Waiting until the final day for comment, the AMF claims that the current regulatory regime is adequate, because the securities market is small, yet spread over […]

By Staff |July 16, 2008

3 min read

Decorative pattern

Feds loosen death rules for TFSA

As excited as advisors got when the tax-free savings account (TFSA) was introduced in the March 2008 federal budget, the legislation wasn’t perfect. Thanks to new amendments made by the Conservative government, however, some of the TFSA’s flaws have been fixed. One concern advisors and tax experts had in March was related to the laws […]

By Bryan Borzykowski |July 16, 2008

3 min read

Decorative pattern

Wellington West settles Crocus claim

Wellington West Capital has agreed to a $500,000 out-of-court settlement with unitholders of the now defunct Crocus Investment Fund, in exchange for being dropped as a defendant in a $200-million class action suit. The agreement removed a “major impediment” to asking the court’s permission to give money back to about 34,000 shareholders, according to Russ […]

By Renée Alexander |July 16, 2008

2 min read

Decorative pattern

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(July 15, 2008) The Bank of Canada held steady on its trend-setting overnight rate, maintaining its target of 3.00% for the key rate. The operating band remains unchanged, as does the bank rate, at 3.25%. The Bank pointed to continued weakness in the U.S. economy and “ongoing turbulence in global financial markets” as factors in […]

By Staff |July 15, 2008

3 min read

Decorative pattern

Canadians play it safe in June: IFIC

Canadians continued to park their mutual fund investments in money market funds in June, with 75% of net new sales landing in the short-term category, according to the latest figures from the Investment Funds Institute of Canada. Among the firms that report to IFIC, sales totalled $1.6 billion, but only about $400 million ended up […]

By Steven Lamb |July 15, 2008

3 min read

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