Two predecessor companies of Industrial Alliance Insurance and Financial Services Inc. and Manulife Financial Corp. issued life insurance policies that allowed holders to invest in side accounts that guaranteed rates of up to five per cent and four per cent, respectively.Aaron Vincent Elkaim/The Canadian Press files In an era of higher interest rates in the…
Stock
Business & Finance
What you need to know about inheriting or transferring a foreign pension
An IRA can be transferred, tax-free, to a Canadian RRSP, but it’s complicated and not always worthwhile.Karen Bleier/AFP files The biggest tax bill upon death for many Canadians arises from the mandatory inclusion of any remaining RRSP or RRIF funds as income on their final tax return. The tax law states that, absent a qualifying…
Funds
Wal-Mart cutting up to 500 corporate jobs in latest shake-up aimed at streamlining costs
Even as Wal-Mart makes cuts, the company has taken steps to retain employees — like boosting its hourly wage and creating new roles focused on its online grocery business.Justin Sullivan files Wal-Mart Stores Inc. is cutting 400 to 500 jobs at headquarters this week, the latest effort to streamline a retail empire under threat from…
Bonds
The Bossies: Our annual wrap-up of standout management bloopers
By Andrew Ross The “When Life Gives You Lemons” Award Few CEOs have been dealt a worse hand than Michael Medline had when he replaced Marc Poulin at Empire Co. Ltd. The grocery store owner had just posted a $2.9-billion writedown related to its 2013 acquisition of Canada Safeway Ltd. and Medline was facing a…
Commodities
Canada’s Most Admired Corporate Cultures
Flight Centre Travel Group. John Beauvais, President Flight Centre Travel Group poses for photos with some employees at their location at King and Spadina streets in Toronto, Ont., Tuesday, February 20, 2018. (J.P. Moczulski for Postmedia News) Flight Centre Travel Group (FCTG) prides itself on having a corporate culture like no other. As a full-service…
Currencies
Moon to get its own 4G mobile network next year via SpaceX rocket
Nokia masts will be launched on a SpaceX rocket in 2019 from Cape Canaveral air force station in Florida to the moon to create a 4G network.Giuseppe Cacace/AFP The moon will have a 4G mobile network installed next year, according to plans set out by Vodafone and Nokia. The mission, organized by space exploration company…