If you carry a mortgage, your lender will typically require you to carry home insurance. However, that requirement does not guarantee protection against every kind of water-related loss. Standard home insurance policies often exclude flood damage and many forms of water intrusion—particularly water that enters from outside, such as flooding, water rising up from the … Read more

Ask MoneySense We are planning to sell the cottage, and I would like to know which renovations or improvements can be treated as capital costs. I have kept all receipts. Replacing a shingle roof with a metal roof? Upgrading old windows to new, energy-efficient models? Replacing an old deck and stairs? Replacing an old wood … Read more

Corus Entertainment Inc. says it expects to have cut roughly 25% of its full-time workforce by the end of next month compared with the start of its 2023 fiscal year, a reduction that equates to about 800 positions as the company pursues aggressive cost savings. The Toronto-based broadcaster, which operates television and radio properties across … Read more

Seven years after emerging from creditor protection and undertaking a major turnaround, Stelco Holdings Inc. has agreed to be acquired by Cleveland-Cliffs Inc. in a transaction valued at approximately $3.4 billion. In a Monday announcement, the Hamilton, Ontario–based steelmaker confirmed it will sell all issued and outstanding common shares to Cleveland-Cliffs, an Ohio-based leader in … Read more

Ask MoneySense I’m the grandfather to two young boys. They are eight and six years old. I opened a joint RESP for both of them after the youngest was born. I will turn 75 years young this year and am in good health. However, I have recognized that one’s health is a fickle thing. The … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes the week’s financial headlines and explains what they mean for Canadian investors. Are U.S. rate cuts on the way? Canada’s interest-rate decisions are largely guided by domestic inflation, but U.S. inflation and monetary policy also matter. The Canadian dollar’s … Read more

If you don’t follow crypto closely, you may have missed an important development in April: Coinbase became the largest cryptocurrency exchange to register as a restricted dealer in Canada, and the first international exchange to achieve that status. Coinbase Global Inc., based in the United States, is a publicly traded company serving more than seven … Read more

Artificial intelligence-themed exchange-traded funds (AI ETFs) have become one of the most discussed investment topics among family, friends and neighbours—even those who aren’t active investors. Much of the recent excitement stems from Nvidia. The semiconductor giant surged about 171% year-to-date and reached a market capitalization near US$3.24 trillion as of June 20, 2024, briefly overtaking … Read more

As housing becomes increasingly unaffordable for many Canadians, a growing number of young adults are turning to the “Bank of Mom and Dad” for help with down payments or mortgage payments. A recent CIBC survey found that 31% of first-time home buyers in Canada received financial help from a parent or relative, with the average … Read more

This little piggy is going to market. Maple Leaf Foods (MFI/TSX) announced Tuesday that it will spin off its pork business into a newly listed, independently traded company. The decision, long under consideration, comes now because pork markets are stabilizing after pandemic-related disruptions and major capital investments at two processing facilities have been completed, Chief … Read more