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At the time they were phased out, pennies cost the Canadian Mint 1.6 cents to produce. Doesn't make much cents, does it? Getting rid of them ended up saving taxpayers up to $11 million a year, which is advantageous.
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"She represents courage, strength and determination."
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OTTAWA — An internal federal analysis shows the government has studied the pros and cons of the nickel — but Ottawa insists it has no plans to force the five-cent coin into retirement, as it did the p...
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Electronic money, or e-money, has arrived. It can be transferred through smart phone, tablet, computer, or other ways. This way, people can make quick payments with their phones -- even in physical settings like the grocery store. Will cards be replaced by e-money, the way cash has been mostly replaced by cash?
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While a Canadian dollar spent might only get you 70 cents (or less) of a U.S. stock, that stock's potential return over the long haul will likely more than offset its higher sticker price -- not to mention help you diversify your portfolio out of Canadian-only investments.
The problem, as most in the Canadian investment community know all too well, is that true diversification -- not only being in different types of investments beyond stocks and bonds but true diversification among sectors, companies and even geography -- is a tall task in the Great White North.
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A weaker Canadian dollar poses a threat to imported inputs to Canada's production machine, and to future Canadian investments abroad. But the soaring U.S. dollar isn't the only currency in play. Movements in other currencies are less dramatic. Perhaps this is an opportunity to scan the globe both for inputs to our production process and for direct investment undertakings in less-traditional markets.
Women on Canadian Banknotes
These factors have brought hard times to some industries and uncertainty about the impacts to the Canadian economy as the whole. While uncertainty is never comfortable, it can present some opportunities and challenges depending on your situation or sector. Here are three to watch for the rest of the year.
In 2011, the Bank of Canada nixed plans to display images of prominent female activists on a new $50 bill. It had initially planned to depict the "Famous Five," a group of women that fought to see fe...
TORONTO - The Canadian dollar closed slightly higher Thursday as Canada's current account deficit improved slightly in the second quarter.The loonie gained 0.07 of a cent to 92.19 cents US as Statisti...
LONGUEUIL, Que. - The last of Canada's polymer bills were put into circulation by the Bank of Canada on Thursday, with the transition to the plastic cash set to take about two years.The $5 and $10 not...
OTTAWA - Bank of Canada governor Stephen Poloz says he is "absolutely open" to the idea of putting an identifiable woman back on Canada's currency, but that will have to wait until the next roll-out o...
Canada's banks stayed afloat during the Great Recession without a real need for the taxpayer's life jacket, whereas American banks either sank or needed the taxpayer's life boat. But what is less known about our financial system is that its merits go beyond its resolve over the last decade.
Is there an anonymous, free, and untrackable virtual currency currently making its sweep across the World Wide Web? It is not quite that simple, but Bitcoin is poised to become the next big thing in computing and finance.