5 Reasons Canada’s Economy is Looking up in 2017

5 Reasons Canada's Economy is Looking up in 2017After 2016, a year of ups and downs for the Canadian economy, there’s a growing body of evidence suggesting 2017 will be a better year. Here are five big reasons the economy could do a lot better than you might think this year. The job market is recovering It may be cold comfort to anyone still looking for work, but Canada’s job market ended 2016 on a bit of a…

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Cashless Buying Poses Financial Risk For Those Without Self-Control

Cashless Buying Poses Financial Risk For Those Without Self-ControlFinancial planner Victor Godinho said goodbye to his wallet four years ago and hasn’t looked back. The 23-year-old adviser at the VTAG Financial Group Inc. in Toronto was one of the early adopters of the “cashless” lifestyle, a move to ditch pocket change and bills in favour of plastic cards and mobile phone payments. “I simply decided that change and cash were too frustrating to deal with,” he said. New…

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Canadian Dollar Under Pressure Over Rates and Economy

Canadian Dollar Under Pressure Over Rates and EconomyThe Canadian dollar has had a sharp slide since the beginning of 2014 and most predictions are that it will go lower. RBC economists say 87 cents by this fall, perhaps 85 cents next year, while TD Bank says 85 cents before the end of the year, then a rebound to 90 cents in 2015. On Friday the loonie closed up 0.26 of a cent at 89.21 cents US, having…

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Why are so many of Canada Young People out of work?

Why are so many of Canada Young People out of work?Some may call them whiny and self-important, but when it comes to jobs, Generation Y’s sense of entitlement is partly the result of being pointed down career paths that have led them back to the same opportunities they had when they were teenagers. “I don’t expect vacations, shopping or extravagance in my life,” said Angie Robbins, a 27-year-old who has a bachelor’s degree in nursing. “I want to work, [but]…

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Cheap American Flights threaten Canadian Airport Business

Cheap American Flights threaten Canadian Airport BusinessThe promise of cheaper flights is driving many Canadians across the border to U.S. airports — costing millions of dollars in lost revenue in Canada — but the federal government says it won’t subsidize air travel. The trend of more Canadians flying out of the United States is disconcerting to Canada’s aviation industry, which is calling on the federal government to do something to lure back those travelers…

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Gold and Bits – Two Sides of the Same Coin

Gold and Bits - Two Sides of the Same CoinIt was as if gold was taking a lesson from Bitcoin the day before, and for once you couldn’t blame North Korea. On Thursday, the electronic currency plummeted to about $50 after hitting a Wednesday high of about $260. “What did they think?” chuckled someone at a business news meeting I attended. “Bitcoins have no real value. They are just an imaginary currency.” Fast forward to Friday. Gold plummets $30…

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Bank of Cyprus Big Savers to Lose up to 60%

Bank of Cyprus Big Savers to Lose up to 60%Large depositors at Cyprus’ largest bank may be forced to accept losses of up to 60 per cent, far more than initially feared under the European rescue package to save the country from bankruptcy, officials said Saturday. Deposits of more than 100,000 euros ($128,000) at the Bank of Cyprus would lose 37.5 per cent in money that would be converted into bank shares, according to a finance ministry decree obtained…

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Wine Industry Growing as Investment Option

Wine Industry Growing as Investment OptionIf you love Niagara ice wine or Okanagon merlot you may be sipping in a good investment idea. A recent BMO report shows Canadian vineyards are poised for five solid years of growth. Why? Canadians are drinking more domestic wine and willing to pay premium prices for it. As well Canadian wineries are exporting more of their product than ever before. All of this is adding up to a boon…

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Canadian Housing Market Shows Signs of Stabilization

Canadian Housing Market Shows Signs of StabilizationThere were signs of stabilization in the housing market as prices continued to climb in January, while total sales fell from a year before, according to the Canadian Real Estate Association. The average national sale price of a home rose two per cent from January 2012 to $354,754 last month, while the number of homes sold in January declined 5.2 per cent from a year earlier. CREA says that’s due…

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Cellphone Contract Crackdown Sought by Watchdog

Cellphone Contract Crackdown Sought by WatchdogCanada’s competition watchdog told the broadcast regulator how it would overhaul cellphone contracts, including doing away with hidden fees and misleading claims designed to make it harder to switch carriers and keep prices high. In a submission to the Canadian Radio-television and Telecommunications Commission, the Competition Bureau laid out changes it would like implemented in the telecom industry…

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