Finance

Prime Minister Justin Trudeau speaks to reporters before heading to a caucus meeting on Parliament Hill in Ottawa, on Wednesday, May 10, 2023. THE CANADIAN PRESS/Spencer Colby

Anti-corruption advocate hopes new financial crime body can start ‘scaring bad guys’

One says it’s important to take ‘opportunity to look at the full package of what is financial crime’

 

The value of the loonie is at a four-month low compared with the U.S. dollar, but experts say Canadian consumers shouldn’t expect their wallets to take a major hit. Canadian dollars are pictured in Vancouver, Sept. 22, 2011.THE CANADIAN PRESS/Jonathan Hayward

Loonie hits four-month low as Bank of Canada holds key interest rate

Weak loonie reflective of the U.S.interest rate aggression hike while Bank of Canada holds steady

 

Workers load off boxes containing frozen beefs from a truck for a restaurant at the shopping mall in Beijing on Feb. 27, 2023. Chinese economic officials expressed confidence Monday, March 6, 2023 they can meet this year’s growth target of "around 5%" by generating 12 million new jobs and encouraging consumer spending following the end of anti-virus controls that kept millions of people at home. (AP Photo/Andy Wong)

Chinese planners promise 12 million jobs, economic rebound

Chinese economic officials expressed confidence Monday they can meet this year’s growth…

 

While salary negotiations are a normal part of the hiring process, experts say it’s a stone often left unturned by young candidates unsure of how to ask for more money from an employer. A worker sits in an office in the financial district in London, Monday, Dec. 13, 2021. THE CANADIAN PRESS/AP-Alberto Pezzali

‘Don’t be afraid to ask’: Tips for young workers in salary negotiations

Young candidates or employees often unsure of how to ask for more money

While salary negotiations are a normal part of the hiring process, experts say it’s a stone often left unturned by young candidates unsure of how to ask for more money from an employer. A worker sits in an office in the financial district in London, Monday, Dec. 13, 2021. THE CANADIAN PRESS/AP-Alberto Pezzali
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Mormon church fined $5M for obscuring size of portfolio

The Church of Jesus Christ of Latter-day Saints and its investment arm…

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RBC financial planner Aba Quarshie is pictured in Ottawa on Thursday, Feb. 2, 2023. THE CANADIAN PRESS/Sean Kilpatrick

Spousal RRSPs can offer tax benefits, but experts say it might not work for everyone

Financial planner says there can be advantages if there is an age difference with the couple

RBC financial planner Aba Quarshie is pictured in Ottawa on Thursday, Feb. 2, 2023. THE CANADIAN PRESS/Sean Kilpatrick
The Canada Revenue Agency website is shown in this Wednesday April 17, 2019 image. THE CANADIAN PRESS/Doug Ives

Filing taxes for the first time? Here’s what you need to know

Start early so you can get all your documents together before the filing deadline

The Canada Revenue Agency website is shown in this Wednesday April 17, 2019 image. THE CANADIAN PRESS/Doug Ives
Experts say the outlook for the loonie in 2023 largely depends on commodity prices, how the U.S. dollar fares, and whether central banks are successful in avoiding a major recession. Falling Canadian dollar coins or loonies are pictured in North Vancouver, B.C., Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward

Canadian dollar’s outlook for 2023 uncertain as interest rate hikes wane: experts

Loonie recently rose to its highest level in more than two months against the U.S. dollar

Experts say the outlook for the loonie in 2023 largely depends on commodity prices, how the U.S. dollar fares, and whether central banks are successful in avoiding a major recession. Falling Canadian dollar coins or loonies are pictured in North Vancouver, B.C., Wednesday, May 29, 2019. THE CANADIAN PRESS/Jonathan Hayward
Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives to a cabinet meeting on Parliament Hill in Ottawa on Tuesday, Jan. 31, 2023. Freeland is hosting an in-person meeting Friday with the provincial and territorial finance ministers in Toronto. THE CANADIAN PRESS/Sean Kilpatrick

Freeland meets with provincial, territorial finance ministers in Toronto

Clean economy to be a focus, but health will also be part of the discussions

Deputy Prime Minister and Minister of Finance Chrystia Freeland arrives to a cabinet meeting on Parliament Hill in Ottawa on Tuesday, Jan. 31, 2023. Freeland is hosting an in-person meeting Friday with the provincial and territorial finance ministers in Toronto. THE CANADIAN PRESS/Sean Kilpatrick
Ottawa husband-and-wife duo Fletcher Gailey-Snell and Ashley Faragher, shown in a handout photo, have turned Fletcher’s nature illustrations into a thriving side hustle, selling apparel, wall art, greeting cards and more. With gig work, freelancing and self-employment becoming an increasingly common way for Canadians to earn extra income, experts say be aware of the tax implications of starting a side hustle. THE CANADIAN PRESS/HO-Fletch Robbins

Started a side hustle? Seek expert advice to avoid tax season headaches

Taking time to consult a professional can help you access benefits

Ottawa husband-and-wife duo Fletcher Gailey-Snell and Ashley Faragher, shown in a handout photo, have turned Fletcher’s nature illustrations into a thriving side hustle, selling apparel, wall art, greeting cards and more. With gig work, freelancing and self-employment becoming an increasingly common way for Canadians to earn extra income, experts say be aware of the tax implications of starting a side hustle. THE CANADIAN PRESS/HO-Fletch Robbins
A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021.THE CANADIAN PRESS/Evan Buhler

What the Bank of Canada’s latest rate hike means for mortgage holders

4.5 per cent likely to remain until Canada’s high inflation rate falls to its two per cent target

A real estate sign is displayed in front of a house in the Riverdale area of Toronto on Wednesday, September 29, 2021.THE CANADIAN PRESS/Evan Buhler
The Bank of Canada will announce its interest rate decision this morning as economists widely expect the central bank to opt for a quarter percentage point rate hike. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada hikes key interest rate by quarter point, says it plans to hold

Key interest rate now stands at 4.5 per cent, highest it’s been in more than 15 years

The Bank of Canada will announce its interest rate decision this morning as economists widely expect the central bank to opt for a quarter percentage point rate hike. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick
As inflation continues to weigh on Canadians’ budgets, some may have entered the new year taking on a self-imposed “no-buy challenge.” A woman does a bit of window shopping along Montreal’s Sainte-Catherine Street, on Tuesday, October 20, 2020. THE CANADIAN PRESS/Paul Chiasson

Thinking about doing a no-buy challenge? Here’s what to consider

A no-buy challenge, made increasingly popular, is often done over the span of a month or even a year

As inflation continues to weigh on Canadians’ budgets, some may have entered the new year taking on a self-imposed “no-buy challenge.” A woman does a bit of window shopping along Montreal’s Sainte-Catherine Street, on Tuesday, October 20, 2020. THE CANADIAN PRESS/Paul Chiasson
FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)

World Bank warning: Global economy is at risk of recession

Development funding institution forecasts third-weakest annual expansion in 30 years

FILE - Container cranes at a port in New Jersey appear behind the Statue of Liberty, Sunday, Nov. 20, 2022, in New York. The global economy will come “perilously close” to a recession this year, led by weaker growth in all the world’s top economies — the United States, Europe and China — the World Bank warned Tuesday.(AP Photo/Julia Nikhinson, File)
The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada lost $522 million in third quarter, marking first loss in its history

Assets did not keep pace with interest charges on deposits at the bank

The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick
British Columbia Finance Minister Selina Robinson speaks during the official opening of the Canadian Cancer Society Centre for Cancer Prevention and Support, in Vancouver, on Wednesday, November 10, 2021. THE CANADIAN PRESS/Darryl Dyck

B.C. forecasts surplus of $5.7 billion, but ‘shock rebound’ may not last: minister

Much of the added surplus comes from higher personal and corporate income tax revenue

British Columbia Finance Minister Selina Robinson speaks during the official opening of the Canadian Cancer Society Centre for Cancer Prevention and Support, in Vancouver, on Wednesday, November 10, 2021. THE CANADIAN PRESS/Darryl Dyck
Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck

As Canada faces potential recession, Freeland to give fall economic statement

Finance minister has already warned not to expect big money to help Canadians cope

Deputy Prime Minister and Minister of Finance Chrystia Freeland pauses while responding to questions during the second day of a Liberal cabinet retreat, in Vancouver, on Wednesday, September 7, 2022. THE CANADIAN PRESS/Darryl Dyck
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British pound drops to an all-new low

The British pound has dropped to an all-time low, following a promise…

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Falling Canadian dollar coins are pictured in North Vancouver, B.C. Wednesday, May 29, 2019. The Canadian dollar is sliding again a day after the U.S. Federal Reserve raised its key interest rate.THE CANADIAN PRESS/Jonathan Hayward

Canadian dollar slides as investors retreat to U.S. dollars

loonie slipped under 75 cents US earlier this week

Falling Canadian dollar coins are pictured in North Vancouver, B.C. Wednesday, May 29, 2019. The Canadian dollar is sliding again a day after the U.S. Federal Reserve raised its key interest rate.THE CANADIAN PRESS/Jonathan Hayward
The Bank of Canada is pictured in Ottawa on Tuesday Sept. 6, 2022. The Bank of Canada is expected to announce it will be raising its key interest rate today, making it the fifth consecutive increase this year. THE CANADIAN PRESS/Sean Kilpatrick

Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher

Expected lift brings the bank’s key rate target to 3.25 per cent

The Bank of Canada is pictured in Ottawa on Tuesday Sept. 6, 2022. The Bank of Canada is expected to announce it will be raising its key interest rate today, making it the fifth consecutive increase this year. THE CANADIAN PRESS/Sean Kilpatrick