CIBC profit beats despite higher provisioning for losses in troubled natural gas sector

CIBC profit beats despite higher provisioning for losses in troubled natural gas sector

One of Canada’s biggest banks said Thursday that third-quarter profit rose, but that an energy sector beset by low natural gas prices forced it to set aside more money for potential loan losses. Canadian Imperial Bank of Commerce reported net income of nearly $1.4 billion for the three months ended July 31, up two per…

The tech-stock boom has well and truly arrived in Canada’s market

The tech-stock boom has well and truly arrived in Canada’s market

It makes up almost 6 per cent of Canada’s stock market and is the best-performing sector this year. That’s right: technology stocks have climbed a massive 59 per cent in 2019 — more than double the next-best industry group on the S&P/TSX Composite Index. In fact, tech’s share of the benchmark index has grown at…

10 stunning images of the UK’s Royal Air Force Red Arrows zooming past New York landmarks with US Thunderbirds and F-35s

10 stunning images of the UK’s Royal Air Force Red Arrows zooming past New York landmarks with US Thunderbirds and F-35s

The Royal Air Force’s Red Arrows streaked red, white, and blue down the Hudson River on Thursday as they flew a demonstration flight alongside the US Air Force Thunderbirds, the F-22 Raptor demonstration team, and four US Air Force F-35s. It’s the first US tour for the Red Arrows since 2008. Read on for stunning…

Striking photos show the devastation wreaked by record-breaking fires in the Amazon rainforest

Striking photos show the devastation wreaked by record-breaking fires in the Amazon rainforest

Nearly 10,000 fiery infernos are raging across the Amazon, razing tropical vegetation and trees. Since August 15, more than 9,500 new forest fires have started across Brazil, primarily in the Amazon rainforest basin. The largest state in Brazil, Amazonas, has declared a state of emergency. Smoke from the recent fires spread thousands of miles this…

How to use your TFSA to make money instead of as just a place to park cash

How to use your TFSA to make money instead of as just a place to park cash

The Tax Free Savings Account is now 10 years old and a recent study by the Royal Bank of Canada shows that for the first time, more Canadians have TFSAs versus RRSPs. Stuart Gray, director financial planning at RBC, speaks with the Financial Post’s Larysa Harapyn about the differences between TFSAs and RRSPs and explains…

Dividend stocks are being touted as a substitute for bonds, but the reality is much more complicated

Dividend stocks are being touted as a substitute for bonds, but the reality is much more complicated

Last week on Bloomberg TV, I heard a strategist from Credit Suisse excitedly pronounce that investors are going to shift from bonds to stocks because the dividend yield on the S&P 500 is now above the U.S. Treasury bond yield. He went on to point out that not only is S&P’s income higher, but dividends…

A high-end dry cleaner who’s scrubbed wine out of a $500,000 Chanel wedding dress reveals what it’s like to clean up the bloody, vomit-y messes of wealthy New Yorkers

A high-end dry cleaner who’s scrubbed wine out of a $500,000 Chanel wedding dress reveals what it’s like to clean up the bloody, vomit-y messes of wealthy New Yorkers

Jerry Pozniak, owner of luxury laundry service Jeeves New York, has seen a lot in his 33 years of doing the dry cleaning of wealthy New Yorkers. Pozniak, whose services start at $35 for a tie and can go upwards of $200 per item to clean fur coats and handbags, shared some of his wildest…

Fixed-income still drives Teachers’, while future bets look to tech

Fixed-income still drives Teachers’, while future bets look to tech

The Ontario Teachers’ Pension Plan Board is increasingly focusing on future bets such as investments in Elon Musk’s Space-X and Verily Life Sciences, a healthcare tech and data company under the umbrella of Google parent Alphabet Inc. But returns for the Teachers’ fund continue to be driven by good old-fashioned bonds. The pension plan’s total…

Source: Jeffrey Epstein ordered three couples in his entourage to get married

Source: Jeffrey Epstein ordered three couples in his entourage to get married

Early Tuesday morning, three women filed separate lawsuits against the estate of Jeffrey Epstein, whom federal prosecutors charged with sex trafficking just weeks before his suicide on August 10. Their allegations, which include sexual assault and coercion, closely mirror those lodged by prior accusers. But one plaintiff, who remains anonymous, leveled a novel accusation: The…