TSX tumbles on oil drops
Canada’s main stock index posted a triple-digit decline in late-morning trading as a lower price for oil weighed on the energy sector. The S&P/TSX composite index was down 150.40 points at 16,176.95. In New York, the Dow Jones industrial average was down 347.27 points at 25,429.34. The S&P 500 index was down 36.3 points at […]
CMHC defends stress test
The CEO of Canada Mortgage and Housing Corporation is forcefully defending mortgage stress test rules and warning federal policy makers to hold the line amid calls for the measure to be changed. “The stress test is doing what it is supposed to do,” wrote president and CEO Evan Siddall in a letter dated Thursday to […]
Bipartisan retirement bill clears House, moves closer to becoming law
Lawmakers in the House of Representatives have passed a bill that aims to improve the nation’s retirement savings, moving it a step closer to becoming law. Called the Secure Act and backed by both Republicans and Democrats, the measure includes a variety of provisions intended to increase the ranks of savers and the amount they […]
Survey: Nearly 7 in 10 Americans could easily boost their savings by banking online
If you haven’t opened an online savings account, you’re likely missing out on extra cash. Without the overhead expenses that come with operating a branch, digital banks can pay more interest. Today’s best online savings accounts pay more than 2 percent APY. By opening one of these accounts, the average American could earn up to […]
Shocking number of Americans can’t cover $400 surprise expense
Even as the U.S. economy Opens a New Window. strengthens, many Americans are having a hard time saving Opens a New Window. – even for unexpected emergencies. The Federal Reserve Board released its Report on the Economic Well-Being of U.S. Households on Thursday, finding that only 61 percent of Americans could cover an unexpected $400 […]
Amazon is selling entire houses for less than $20,000 — with free shipping
Residential builders have found a new home: Amazon. Prefabricated and modular housing — with homes prebuilt in factories — is having another moment. From 2013 to 2018, industry revenue grew an annualized 8.6% to nearly $10.5 billion, including growth of 4.1% in 2018 alone, according to research firm IBISWorld. Previously associated with Dwell and other […]