Rising interest rates have brought back the 5 per cent GIC

We’ve hit a milestone in conservative investing – a 5 per cent return from guaranteed investment certificates. Oaken Financial, an online player in financial services, says it will offer 5 per cent for a five-year term starting Friday. The new rate for the one-year term seems a milestone as well: 4.05 per cent. Rising interest … Read more

Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

New homes are built in a housing construction development in the west-end of Ottawa on May 6, 2021.Sean Kilpatrick/The Canadian Press Canada needs an additional 5.8 million homes by the end of the decade to help lower average home costs and ensure households are not spending more than 40 per cent of their disposable income … Read more

Toronto’s BlueCat sells for $700-million plus amid slew of deals for Canadian tech firms

BlueCat co-founders Richard Hyatt, left, and Michael Hyatt._Beyond Infiniti Photography/Handout Toronto network security vendor BlueCat Networks has been purchased by an American private equity firm for more than $700-million, one of a flurry of Canadian technology takeovers announced this week. The purchase by Audax Private Equity comes five years after US private equity firm Madison … Read more

TSX-listed crypto company Voyager Digital warns of a US$655-million loan default, shares plummet 53 per cent

TSX-listed Voyager Digital Ltd.’s VOYG-T stock lost half its value in a single day after management warning of a potential default on a US$655-million loan to a troubled hedge fund, as investors continue to fear financial contagion owing to the crypto sector’s recent crash. Voyager, which went public in Canada in 2019, was historically known … Read more

Gordon Pape: Pipelines have performed better than most during the market pull-back. Here are three to consider

Almost all stocks decline in a bear market, but pipeline companies are doing better than most. The reason is twofold. For starters, global demand for oil and natural gas is keeping their lines full and their pumps working at maximum capacity. There’s no indication this will end soon, even with growing talk of a recession. … Read more

Higher rates but less inflation panic: What CIBC’s Benjamin Tal is predicting for stocks, home prices and the economy

Benjamin Tal, deputy chief economist at CIBC Capital Markets, in Toronto on June 7, 2019.Tijana Martin/The Globe and Mail Mounting fears of a recession have gripped equity markets, with the S&P/TSX Composite Index now firmly in correction territory. The S&P/TSX is down 13 per cent from its record closing high of 22,087, reached on March … Read more

Monthly payments on variable-rate mortgages could increase as borrowers near their ‘trigger rate’

An obscure feature of variable-rate mortgages may push up the monthly payments for an increasing number of borrowers as the Bank of Canada aggressively hikes interest rates. It’s called the “trigger rate” – the interest rate level that, when surpassed, causes a mortgage holder’s monthly payments to change. The trigger rate has been largely ignored … Read more

Welcome Athena Club, a wellness brand and success story launched by two Canadians

Shaving ad campaign for Athena Club.Handout When Canadian entrepreneurs Maria and Charles Desmarais set out to launch their self-care essentials brand Athena Club across Canada, they were primed to upend the country’s hypercompetitive wellness industry. Through a regimen-ready range of products, a clever combination of culturally-aware marketing campaigns, and a direct-to-consumer business model that addresses … Read more