NEWS

Montreal billionaire sex case: Accuser loses bid to freeze Robert Miller's assets

MONTREAL — A Quebec judge has denied a request to freeze the assets of a Montreal billionaire accused of paying underage girls for sex. In a ruling released today, Superior Court Justice Eleni Yiannakis says the applicant failed to prove there is a real risk Robert Miller would disappear or hide his assets if he loses a court case brought against h...

Global warming could cost poor countries trillions. They've urged the COP28 climate summit to help

DUBAI, United Arab Emirates (AP) — A prominent developing-world leader on the issue of climate change said Monday that global taxes on the financial services, oil and gas, and shipping industries could drum up hundreds of billions of dollars for poorer countries to adapt and cope with global warming. Barbados Prime Minister Mia Mottley focused on h...

Where to Invest $5,000 in November 2023

When I'm out of ideas, I usually just default to an S&P 500 index fund. The post Where to Invest $5,000 in November 2023 appeared first on The Motley Fool Canada.

Bank of Montreal sees more cost savings as it absorbs Bank of the West, shares rise

By Nivedita Balu and Jaiveer Shekhawat (Reuters) -Bank of Montreal on Friday forecast more cost savings from its $16 billion acquisition of U.S. lender Bank of the West, voicing confidence in its purchase despite an uncertain global banking environment. The bank, however, missed analysts' estimates for quarterly profit, pressured by rising costs and due to nearly doubling of bad debt provisions

Tips on making ends meet in a world where ‘everything is costing more’

As the cost of living continues to rise, a Halifax-area financial advisor is offering advice to help families cut back on extra costs.

Money worries create 'inflation isolation' in B.C.

During the pandemic, it was COVID that kept us from seeing friends and family, now, it's money. That's according to a new poll. But as Cassidy Mosconi reports, there is hope for those experiencing inflation isolation.

Kimberly Palmer: Smart steps to take when helping your grandchildren financially

In his early 20s, Chris Chen’s nephew dreamed of becoming a professional photographer, but to pursue that dream, he needed equipment that cost over $5,000. His nephew worked hard to save $1,500, then his maternal grandmother provided an additional $750. Chen, a certified financial planner in Newton, Massachusetts, covered the rest. “It helped him u...

What stocks will do well in the new year

Greg Taylor, chief investment officer at Purpose Investments Inc., talks with Financial Post’s Larysa Harapyn about the investing outlook for the year ahead, and how value stocks will rise again once interest rates start coming down. Alberta a bright spot in slowing Canadian economy Grocery code of conduct could cut food prices Ottawa's fix falls short on housing shortage Bookmark our website and support our journalism: Don’t miss the business...

Scotiabank sees 'marginal' profit growth in 2024 after Q4 miss

By Nivedita Balu and Niket Nishant (Reuters) -Bank of Nova Scotia on Tuesday forecast its earnings will rise "marginally" in 2024, after the Canadian lender missed fourth-quarter profit estimates as a murky economic climate prompted it to set aside more funds to guard against bad loans. Scotiabank kicks off Canadian banks' earning season, wrapping up a financial year marked with economic

A Week In Chicago On A $230,000 Joint Income

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar. Today: A marketing manager working in life sciences who has a $230,000 joint income and spends some of her money this week on pajamas. Occupation: Marketing managerIndustry: Life sciencesAge: 29Location: ChicagoSalary: $130,000 (plus...

Where Smart Money is Going as Canadian Interest Rates Climb

The interest rate climb is nearing its end. Smart investors are using this trend to invest in stocks with an inverse correlation to rates. The post Where Smart Money is Going as Canadian Interest Rates Climb appeared first on The Motley Fool Canada.

Parents: How to Give the Gift of Cold, Hard Cash This Holiday

The best thing you can give your kid this holiday season? Cash! Use this method to make money on top of your gift. The post Parents: How to Give the Gift of Cold, Hard Cash This Holiday appeared first on The Motley Fool Canada.

Biden December fundraising blitz to star James Taylor, Spielberg

By Nandita Bose and Jarrett Renshaw BOSTON (Reuters) - President Joe Biden kicked off a December fundraising blitz on Tuesday that will show off the Democratic Party's star power while raising millions of dollars, according to invitations reviewed by Reuters and sources familiar with the planning. The sprint includes at least nine fundraisers before the end of the month starting on Tuesday in

Big money for top Democrat stolen: federal records

U.S. House Minority Whip Katherine Clark (D-MA) — the second-ranking Democrat in the House — is the latest member to become entangled in an epidemic of thefts affecting public officials. Federal records indicate that a a $5,000 check from the Unum Group Political Action Committee to Clark’s campaign committee was “fraudulently intercepted” sometime...

Criminal use of cryptocurrency expected to grow, Canada's financial intel agency says

OTTAWA — Canada's financial intelligence agency says it anticipates that criminals will increase their use of cryptocurrency to raise, move and hide funds outside the traditional banking system. In its latest annual report, released Monday, the Financial Transactions and Reports Analysis Centre of Canada highlights its development of strategic inte...

Nova Scotia couple uses lottery winnings for kindness

Winning $100,000 in the lottery isn't exactly a windfall in this economy. But, for one Nova Scotia couple, it's been enough to set their minds at ease after being renovicted last year. As Heidi Petracek explains, that experience also inspired them to pay something forward.

3 Stocks to Turn $1K Into $5K in 2024

Three stocks that outperform this year amid massive headwinds could deliver far superior returns in 2024. The post 3 Stocks to Turn $1K Into $5K in 2024 appeared first on The Motley Fool Canada.

Millennial Money: What the 2024 Social Security COLA could mean for your retirement

Social Security benefits for millions of people will rise by an average of over $50 a month starting in January, thanks to the Social Security Administration’s 3.2% annual cost of living adjustment for 2024, announced on Oct. 12. The change will immediately put more money in current retirees’ pockets, but it also could have a considerable effect on...

Millennial Money: 5 steps to creating financial boundaries during the holidays

Marketing ads, family functions and holiday gift-giving culture can make it feel impossible not to spend, or for some, overspend. According to a 2023 survey from NerdWallet, around half of Americans (52%) incurred credit card debt when shopping for gifts during the holidays last year, and almost a third (31%) of them still haven’t paid it off. Whil...

US dollar falls against most currencies as rate cut view weighs

By Gertrude Chavez-Dreyfuss and Samuel Indyk NEW YORK/LONDON (Reuters) -The U.S. dollar slid against most major currencies on Monday, with a measure tracking the greenback's value on track for its biggest monthly drop in a year, weighed down by expectations that the Federal Reserve could start cutting interest rates by the first half of next year. The dollar index, which measures the currency

India's Paytm to curtail low-value personal loans after cenbank clampdown

BENGALURU (Reuters) -India's Paytm will issue fewer sub-50,000-rupee (about $600) personal loans, the digital payments firm said on Wednesday, weeks after the central bank tightened rules on consumer lending after a surge in demand. The non-bank lender said it will expand its portfolio of higher-ticket personal and commercial loans to lower-risk and high-credit-worthy customers, expecting "good

How to appear rich without breaking the bank

Money comes and goes, but appearing rich can last forever. While you're waiting for the big paychecks to roll into your bank account, what is the harm in presenting an illusion of that lifestyle to others? In fact, it may even open windows to the real deal! Of course, there is more to life than material things, but having nice things is definitely a bonus. Take a look through the gallery, inspired by Self-Made, for some tips on how best to indulge in the facade of wealth.

Asia FX edges past China woes as markets look to less hawkish Fed

Investing.com-- Most Asian currencies rose slightly on Wednesday as weak U.S. labor data spurred continued bets on early interest rate cuts by the Federal Reserve, helping investors look past persistent concerns over China’s economy. JOLTs data...

Canada's anti-money laundering agency imposes C$7.5 million penalty on RBC

By Nivedita Balu TORONTO (Reuters) -Canada's anti-money laundering agency on Tuesday said it had imposed a C$7.5 million ($5.52 million) fine on Royal Bank of Canada for failure to submit suspicious transaction reports, a first of its kind for Canada's biggest bank. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) said the administrative monetary penalty was imposed on Nov

3 Passive-Income Streams That Will Take You to the Next Level

These passive-income streams do not take a second more of your time. Focus on your day job and look forward to even more cash flowing in. The post 3 Passive-Income Streams That Will Take You to the Next Level appeared first on The Motley Fool Canada.

Dollar recovers lost ground; Aussie slips after RBA holds rates

By Rae Wee SINGAPORE (Reuters) -The U.S. dollar regained some ground on Tuesday and hovered near a one-week high against a basket of currencies, while the Australian dollar fell after its central bank left interest rates unchanged. The Aussie was last down 0.66% to $0.6576 after the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35% on Tuesday, as expected, and noted that

Public investors with $4.3 trln are down on China but in on net zero

By Libby George and Bansari Mayur Kamdar LONDON (Reuters) - Public pension and sovereign wealth funds managing $4.3 trillion in assets are pessimistic about investing in China, but keen to cut net emissions of their portfolios, according to a survey by the Official Monetary and Financial Institutions Forum (OMFIF). The survey of 22 funds by OMFIF, a think tank for central banking, economic

Dollar tumbles on Fed cut bets; hawkish RBNZ boosts kiwi

By Rae Wee SINGAPORE (Reuters) -The U.S. dollar slid across the board to hit a more than three-month low against its major peers on Wednesday, while the New Zealand dollar surged after its central bank suggested that more rate hikes could be in the offing. The kiwi was last 0.78% higher at $0.6184, having surged more than 1% earlier in the session to a four-month high of $0.6207 after the

I work two jobs just to afford my rent – this is the reality of living in London

'For someone who doesn't earn that much money, it's not very viable to live in London, which is the sad truth.'

RCMP seize $6M in connection with drug trafficking and money laundering schemes

RCMP have uncovered a high level drug trafficking ring where money was being laundered through cryptocurrency. Police searched 10 properties in the RM of Springfield, Sunnyside, Navin and Winnipeg. They seized drugs, property, firearms and cryptocurrency with a total value of $6 million.

SIMMONS: How the Blue Jays' pursuit of Shohei Ohtani could make dollars and sense

When the Blue Jays signed the free-agent pitcher Roger Clemens way back in 1997, the expectation was this would be a big ticket seller for the baseball team. Clemens had two spectacular seasons in Toronto — the greatest pitching performances in club history, winning two Cy Young Awards — and yet attendance grew by only 367 per game in his first season in Toronto, and just a few more than that on the days Clemens pitched at SkyDome. The notion...

Wall Street gets creative as regulators demand more capital

By Shankar Ramakrishnan (Reuters) - Earlier this fall, Morgan Stanley bought $300 million worth of protection against losses on some of its loans from Blackstone Group and other investors, two sources familiar with the matter said. The transaction, details of which have not been previously reported, was effectively insurance, structured as a sale of bonds called credit-linked notes, according to

Exclusive-China's Alipay to sell its stake in India's Zomato for nearly $400 million -sources

By M. Sriram MUMBAI (Reuters) -Chinese payments group Alipay plans to sell its 3.4% stake in Indian food delivery giant Zomato for nearly $400 million through block deals on Indian stock exchanges, according to three sources and a Reuters review of the deal's term sheet. Alipay, owned by Ant Group, will offload its entire 3.44% stake in the deal, the term sheet seen by Reuters showed. Bank of

Global banks forecast improved investment banking outlook

By Saeed Azhar and Tatiana Bautzer NEW YORK (Reuters) - Global bank executives said that dealmaking conditions have begun to improve, with some predicting a better outlook for strategic mergers and acquisitions at an industry event Tuesday. Both M&A activity and initial public offerings (IPOs) faltered last year after Russia's invasion of Ukraine and the U.S. Federal Reserve's aggressive rate

US dollar falls on dovish remarks by Fed's Powell

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar fell on Friday, after two days of gains, as Federal Reserve Chair Jerome Powell struck a cautious tone on further interest rate moves, saying that the risk of under- or over-tightening is now more balanced. The market viewed his comments as dovish, with investors pricing in expectations that the Fed is likely done raising rates. Powell

Passive Income: How to Make $1,000 Per Month Tax-Free

Are you interested in passive income? Here’s how you can make $1,000 per month tax-free! The post Passive Income: How to Make $1,000 Per Month Tax-Free appeared first on The Motley Fool Canada.

Stereotype vs reality: How millennials actually spend their money

Millennials have quite the scandalous reputation, known as the narcissistic, immature, industry-killing generation, and blamed for ill-advised spending habits that are bankrupting businesses. But behind all the quirks and avocados lies a starkly different truth to this generation. Check out the top things people think millennials are wasting their money on, and where research shows their money is actually going, as gathered by Slice.

Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds

COLOMBO, Sri Lanka (AP) — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. The agreement with the Official Creditor Committee cov...

A Week In Northern California On A $140,000 Salary

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar. Today: a self-employed psychologist working in healthcare who makes $140,000 per year and spends some of her money this week on popcorn at the movies. Occupation: Self-employed psychologist Industry: HealthcareAge: 35Location:...

Why are millionaires suddenly moving out of China?

Bitcoin breaks $40,000 as momentum builds

TOKYO (Reuters) -Bitcoin has broken above $40,000 for the first time this year as it rides a wave of momentum on broad enthusiasm about U.S. interest rate cuts and as traders anticipate the imminent approval of U.S.-stockmarket traded bitcoin funds. The world's biggest currency hit as high as $40,210 in Sunday trade, its highest since April 2022. It was steady at $40,011 in thin trade early in

Martin Lewis warns bank account holders could miss out on £1,000s

Some savings accounts offer up to 8% interest over a year.

The West has sanctioned Russia's rich. But is that really punishing Putin and helping Ukraine?

VERONA, Italy (AP) — Sitting on a terrace in Verona as the bells toll at a nearby medieval church, Igor Makarov sips coffee as he describes his life as a billionaire under Western sanctions. Most of his fortune earned doing business in Russia and the former Soviet Union is frozen, and his plans to develop his energy businesses are currently shelved...

Trump put under 'enhanced monitoring' over undisclosed $40 million cash transfer: report

Former President Donald Trump has been placed under "enhanced monitoring" after Trump Organization monitor Barbara Jones identified $40 million in previously undisclosed cash transfers, reported Law360's Frank G. Runyeon on Wednesday. Jones alerted Judge Arthur Engoron, who is overseeing Trump's civil fraud trial in New York. "The Materiality Thres...

You can pay it forward at this Thorncliffe Park cafe

The Common Ground Cafe is making it easy for customers to give back by offering a pay-it-forward model when buying coffee or a snack.

A Week In Atlanta On Unemployment Benefits

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar. Do you have a holiday budget? Are you sticking to it? Have you blown it already? We want to read your Money Diary! Submit one here and email [email protected] with any questions you may have. Today: An unemployed software...

All the money changes coming in December 2023 – from inflation rates to cost of living pay

Here's what you can expect for your finances this Christmas.

China's state banks seen swapping and selling dollars for yuan - sources

SHANGHAI (Reuters) - China's major state-owned banks were seen swapping yuan for U.S. dollars in the onshore swap market and selling those dollars in the spot market to support the yuan on Tuesday, two sources with knowledge of the matter said. The state bank actions come at a time the Chinese yuan strengthened 2.55% to the dollar in November for the best month this year. However, it is still

How to Earn $2,005 in Passive Income With No Start-Up Costs

Passive income doesn't need to be difficult work. In fact, by definition, it shouldn't be! Here's an easy way to get started at zero cost. The post How to Earn $2,005 in Passive Income With No Start-Up Costs appeared first on The Motley Fool Canada.

Bank of Montreal's quarterly profit falls on higher rainy-day funds

(Reuters) - Bank of Montreal reported a fall in its fourth-quarter profit on Friday, as higher provisions for potential credit defaults offset gains from a rise in its interest income. The lender built up its provisions for credit losses (PCLs) as gloomy economic conditions prompted caution. PCLs at the bank surged to C$446 million, from C$226 million a year earlier. Canada has been on the brink