Finance – NOW Magazine Sat, 13 Feb 2021 17:23:17 +0000 Sat, 13 Feb 2021 17:23:17 +0000 en-US Carlito Pablo Canada’s Great Gatsby Curve: study tracks reduced upward income mobility A new study looks at the concentration of wealth in one generation and the ability of the next generation to move up the economic ladder

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Martin Dunphy Overwhelmed by debt? Consumer proposals can restore peace of mind If you’re in a serious financial situation, where no way out is seen and creditors are in contact for repayment, there are options

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NOW Staff Mortgage Broker Store can help property owners in Ontario who are facing power of sale or eviction Sponsored feature: Mortgage Broker Store

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Charlie Smith What’s a sustainable investment in RRSP season? No industry organization or government in Canada has set a standard for a “sustainable investment.”

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Radheyan Simonpillai Financial advice for 2021: Five savings tips so you can do what you love How to conquer emotional spending without sacrificing simple pleasures like a latte. Hint: Use cash

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Radheyan Simonpillai Mortgage advice for 2021: Fixed versus variable rate? Money experts debate mortgages and where to put your savings or investments

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Radheyan Simonpillai How to prepare your taxes in 2021 Money experts offer advice on filing taxes this year and what to do if you received CERB or worked from home

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Carlito Pablo This is how many businesses have closed in Ontario during COVID-19 The Canadian arts, entertainment and recreation sector is the “furthest from recovery,” according to Statistics Canada

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NOW Staff Five easy financial planning tips for an uncertain 2021 Sponsored feature: PC Financial

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Julia Mastroianni Canadians working from home could be eligible for a tax break The tax deduction allows employees to claim $2 for each day they worked from home, up to $400

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Julia Mastroianni Canadian food prices to outpace inflation in 2021: report As supermarkets spend more in the shift to online shopping, the costs will likely be passed on to consumers

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Charlie Smith Media Central announces new board of directors, CEO resignation The company that owns NOW and the Georgia Straight has undergone management changes

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Craig Takeuchi Sunrise entrepreneur to launch tea chain in former DavidsTea locations Doug Putman will reopen 45 locations of DavidsTea as T. Kettle shops in nine Canadian provinces

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Carlito Pablo Bank of Canada to freeze interest rates at near zero until 2023 Lower-income Canadians are being hit particularly hard by the pandemic’s financial fallout

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Craig Takeuchi Le Château to close all stores in Canada The Montreal-based chain is the latest Canadian retailer to fall victim to the coronavirus pandemic

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Craig Takeuchi Struggling Canadian retailer Frank and Oak finds a buyer A New York-based company has acquired the clothing brand, which sought creditor protection in June

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Craig Takeuchi Consumer co-op MEC sold to private equity firm after 50 years The co-op said the transition to private ownership was needed to ensure a future for the retailer

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NOW Staff Canada creating new benefit for gig workers to replace CERB New transitional benefit will cover contract and gig workers, while others will be moved to EI, Trudeau says

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NOW Staff Half of Canadians plan to spend less on restaurants during COVID-19 recovery: Stats Can 51 per cent of Canadians say they plan to spend less money at restaurants as the economy reopens

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Radheyan Simonpillai Money is the leading cause of stress for Canadians during the pandemic: survey Personal health is a growing concern for Canadians during the coronavirus pandemic

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Aziza Mohammed The case for local currency in Toronto From ancient Mesopotamia to the Great Depression, local currencies have been a tool used in the past to keep communities afloat during crises

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Charlie Smith Timing of Trudeau’s WE Charity scandal couldn’t be worse for federal Liberals The prime minister has a remarkable ability to surf through controversy, but scandals have traditionally taken a greater toll on politicians during hard economic times

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Charlie Smith Cineplex sues Cineworld for $2.18B over failed takeover Canada’s largest movie theatre chain is accusing the UK company of breaching contractual obligations

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Craig Takeuchi Frank and Oak files for bankruptcy protection Another Canadian clothing retailer has run into financial trouble during the pandemic

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Now Toronto Global TV owner Corus reports $752-million loss in first three months of pandemic The company generated a $66.4-million profit over the same period in 2019

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Now Toronto Facebook shares plunge as Zuckerberg responds to advertiser revolt Coca-Cola is the latest major brand to boycott the advertising platform over the company’s failure to address misinformation and racist content

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Radheyan Simonpillai Toronto suffered huge decline in retail sales in April: report Statistics Canada says sales in the GTA dropped 40.7 per cent since before COVID-19-related closures began, but May figures show signs of hope

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Now Toronto Aunt Jemima and Uncle Ben’s logos are on their way out The brands have been criticized for perpetuating racist stereotypes

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Radheyan Simonpillai Cineplex stays Canadian after Cineworld scraps takeover deal UK cinema giant backed out of a $2.8 billion acquisition agreement, prompting Canada’s dominant movie theatre chain to initiate legal proceedings

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Now Toronto Buoyant Canadian jobs numbers come as a surprise Despite the increase in the number of people working in May, the unemployment rate still jumped to 13.7 per cent from 13 per cent in April

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