News

Latest news Articles

Top 10 shocking HR calls

Working in human resources can be fullfilling — and stressful. "One of the best things about working in HR is that no two days are ever the same," explains Kiljon Shukulari, HR Advice Manager for Peninsula Canada, a divsion of Pensinsula Group, an HR firm that protects employers across the globe with employment law and health and safety services."You never know what you're going to hear next. Just when you think you've dealt with every situation you can possibly think of, someone manages to surprise you." While Shukulari admits there are common misconceptions about working HR — from days filled with paperwork and dealing with contracts — she advises that the discipline of HR is about being prepared for anything. To emphasis the potential crazy-making issues that can arise, the Peninsula Group compiled a list of the top 10 most absurd HR calls received, worldwide. Theses situations include: indecent exposure, unexplained jail time and even gang activity. "Believe it or not, it's all in a day's work for HR!" exlaims Shukulari.

By Nicholas Sokic | 05.29.24

Working in human resources can be fullfilling — and stressful. "One of the best things about working in HR is that no two days are ever the same," explains Kiljon Shukulari, HR Advice Manager for Peninsula Canada, a divsion of Pensinsula Group, an HR firm that protects employers across the globe with employment law and health and safety services."You never know what you're going to hear next. Just when you think you've dealt with every situation you can possibly think of, someone manages to surprise you." While Shukulari admits there are common misconceptions about working HR — from days filled with paperwork and dealing with contracts — she advises that the discipline of HR is about being prepared for anything. To emphasis the potential crazy-making issues that can arise, the Peninsula Group compiled a list of the top 10 most absurd HR calls received, worldwide. Theses situations include: indecent exposure, unexplained jail time and even gang activity. "Believe it or not, it's all in a day's work for HR!" exlaims Shukulari.

By Nicholas Sokic | 05.29.24

'Sandwich Generation' anxious of caregiving costs

Almost three-quarters of Canadians (71%) who are raising kids and caring for elderly parents firmly believe they would benefit from financial planning advice. Known as the "sandwich generation," these Canadians feel obligated to care for their younger and older relatives according to a survey by HomeEquity Bank and Ipsos. Additionally, nearly one-third of Canadians have made a promise to keep their aging parents out of long-term care. That promise may be difficult to keep. "We're committed to reshaping the conversation around ageing and raising awareness about the unique issues that retired or retiring Canadians face. That includes the often complex relationship between parents and adult children," wrote Vivianne Gauci, HomeEquity Bank’s senior vice-president of customer experience. "We knew the sandwich generation was under pressure but the research revealed just how worried they are,” explained Gauci. “They want to honour their parents' decisions, but that can come with both stress and financial strain, underscoring the importance of planning and communicating now for the support and resources that may be needed later." Aside from the financial concerns, those in the sandwich generation are worried about the time commitments, quality of care and more.

By Nicholas Sokic | 05.29.24

Almost three-quarters of Canadians (71%) who are raising kids and caring for elderly parents firmly believe they would benefit from financial planning advice. Known as the "sandwich generation," these Canadians feel obligated to care for their younger and older relatives according to a survey by HomeEquity Bank and Ipsos. Additionally, nearly one-third of Canadians have made a promise to keep their aging parents out of long-term care. That promise may be difficult to keep. "We're committed to reshaping the conversation around ageing and raising awareness about the unique issues that retired or retiring Canadians face. That includes the often complex relationship between parents and adult children," wrote Vivianne Gauci, HomeEquity Bank’s senior vice-president of customer experience. "We knew the sandwich generation was under pressure but the research revealed just how worried they are,” explained Gauci. “They want to honour their parents' decisions, but that can come with both stress and financial strain, underscoring the importance of planning and communicating now for the support and resources that may be needed later." Aside from the financial concerns, those in the sandwich generation are worried about the time commitments, quality of care and more.

By Nicholas Sokic | 05.29.24

New digital threat protection app launched

Identity theft is expensive. According to the Canadian Anti-Fraud Centre (CAFC), there were 70,948 fraud complaints in 2020, with a reported dollar loss of $108.8 million.1 To combat identify theft many credit bureaus, banks, credit card providers and fintech firms launched insurance or monitoring services. Boxx Insurance, a Toronto-based fintech, took another approach. Boxx Insurance recently launched an app focused on digital protection and insurance for the average internet user — including assistance in the case of emergencies. “We created this to give individuals and families what they want: An app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency," explained Vishal Kundi, founder and CEO of Boxx Insurance. "Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured.”

By Nicholas Sokic | 05.29.24

Identity theft is expensive. According to the Canadian Anti-Fraud Centre (CAFC), there were 70,948 fraud complaints in 2020, with a reported dollar loss of $108.8 million.1 To combat identify theft many credit bureaus, banks, credit card providers and fintech firms launched insurance or monitoring services. Boxx Insurance, a Toronto-based fintech, took another approach. Boxx Insurance recently launched an app focused on digital protection and insurance for the average internet user — including assistance in the case of emergencies. “We created this to give individuals and families what they want: An app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency," explained Vishal Kundi, founder and CEO of Boxx Insurance. "Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured.”

By Nicholas Sokic | 05.29.24

How does trigger rate affect a variable mortgage

Canadian homeowners with variable interest rate mortgages have been walking an anxiety-inducing tightrope for more than two years. The Bank of Canada hiked the overnight rate 450 basis points since March 2, 2022. (For reference, 100 basis points equals 1%.) To accommodate this rise in rates, mortgage lenders began to increase variable-rate mortgage interest. The increased interest meant many homeowners faced higher monthly payments or seriously extended amortization periods — the amount of time before a homeowner is mortgage-free. The reason was the trigger rate — when a lender is contractually triggered to update the terms and conditions of the borrower's mortgage in order to avoid negative equity. Here’s what you need to know about trigger rates.

By Joel Schlesinger | 05.27.24

Canadian homeowners with variable interest rate mortgages have been walking an anxiety-inducing tightrope for more than two years. The Bank of Canada hiked the overnight rate 450 basis points since March 2, 2022. (For reference, 100 basis points equals 1%.) To accommodate this rise in rates, mortgage lenders began to increase variable-rate mortgage interest. The increased interest meant many homeowners faced higher monthly payments or seriously extended amortization periods — the amount of time before a homeowner is mortgage-free. The reason was the trigger rate — when a lender is contractually triggered to update the terms and conditions of the borrower's mortgage in order to avoid negative equity. Here’s what you need to know about trigger rates.

By Joel Schlesinger | 05.27.24

Canadians increase travel spending in 2024

Canadians are planning to travel this summer, and the vast majority (74%) plan to explore the great sights the country has to offer. A new report from Deloitte shows that three-quarters of Canadians plan to travel in 2024, although 18% said there would be no travel plans on their horizon due to costs or other priorities 1 . “Despite an unpredictable economic climate, Canadians still value their travel plans for the upcoming summer season and are more eager than ever to make the most of their time off,” explained National Transportation, Hospitality and Services Industry Leader at Deloitte Canada, Leslie Peterson. On average, Canadians plan to spend just over $2,400 on transportation and accommodation for their major summer trip in 2024. The new report uncovered a few additional trends when it comes to the travel plans of Canadians.

By Nicholas Sokic | 05.27.24

Canadians are planning to travel this summer, and the vast majority (74%) plan to explore the great sights the country has to offer. A new report from Deloitte shows that three-quarters of Canadians plan to travel in 2024, although 18% said there would be no travel plans on their horizon due to costs or other priorities 1 . “Despite an unpredictable economic climate, Canadians still value their travel plans for the upcoming summer season and are more eager than ever to make the most of their time off,” explained National Transportation, Hospitality and Services Industry Leader at Deloitte Canada, Leslie Peterson. On average, Canadians plan to spend just over $2,400 on transportation and accommodation for their major summer trip in 2024. The new report uncovered a few additional trends when it comes to the travel plans of Canadians.

By Nicholas Sokic | 05.27.24

Is Canada's pension plan safe?

The Canada Plan Pension Investment Board (CPP) ended its fiscal year on March 31, reporting CAD$632.3 billion in net assets at its fiscal year-end – a CAD$62 billion increase in net assets. The fund, comprising the base CPP account and additional CPP funds, attained an 8% net return and a 10-year annualized return of 9.2% 1. “The CPP fund’s growth this year continued the trend of reaching heights several years ahead of initial actuarial projections,” explained John Graham, president and CEO of the fund, in the recently released report. “Solid performance by all of the investment departments and key corporate functions help demonstrate how our strategy is on track.” The fund was also ranked among the top-performing public pension funds in the world by Global SWF with regard to annualized returns between the fiscal years 2014 and 2023.

By Nicholas Sokic | 05.24.24

The Canada Plan Pension Investment Board (CPP) ended its fiscal year on March 31, reporting CAD$632.3 billion in net assets at its fiscal year-end – a CAD$62 billion increase in net assets. The fund, comprising the base CPP account and additional CPP funds, attained an 8% net return and a 10-year annualized return of 9.2% 1. “The CPP fund’s growth this year continued the trend of reaching heights several years ahead of initial actuarial projections,” explained John Graham, president and CEO of the fund, in the recently released report. “Solid performance by all of the investment departments and key corporate functions help demonstrate how our strategy is on track.” The fund was also ranked among the top-performing public pension funds in the world by Global SWF with regard to annualized returns between the fiscal years 2014 and 2023.

By Nicholas Sokic | 05.24.24

Housing still a risk, says OSFI report

The regulatory body responsible for making Canada’s financial institutions safe and stable released its annual risk outlook report—and real estate is still at the top of the list. This week, the Office of the Superintendent of Financial Institutions (OSFI) unveiled its Annual Risk Outlook for 2024-2025. This report highlights the biggest challenges to Canada's financial stability. OSFI’s role as a regulatory body is to ensure the soundness of financial institutions. These insights from OSFI are crucial for understanding the risks that could affect everyday Canadians, from rising interest rates to cyber threats. “Our third Annual Risk Outlook highlights the significant risks facing Canada's financial system and informs Canadians about our regulatory and supervisory responses to these risks. This year, we are taking a more focused approach, highlighting four significant risks," said OSFI Superintendent Peter Routledge.

By Romana King | 05.24.24

The regulatory body responsible for making Canada’s financial institutions safe and stable released its annual risk outlook report—and real estate is still at the top of the list. This week, the Office of the Superintendent of Financial Institutions (OSFI) unveiled its Annual Risk Outlook for 2024-2025. This report highlights the biggest challenges to Canada's financial stability. OSFI’s role as a regulatory body is to ensure the soundness of financial institutions. These insights from OSFI are crucial for understanding the risks that could affect everyday Canadians, from rising interest rates to cyber threats. “Our third Annual Risk Outlook highlights the significant risks facing Canada's financial system and informs Canadians about our regulatory and supervisory responses to these risks. This year, we are taking a more focused approach, highlighting four significant risks," said OSFI Superintendent Peter Routledge.

By Romana King | 05.24.24

Warren Buffett is buying a Canadian P&C firm

Morningstar strategist Greggory Warren was right: The Canadian stock that Warren Buffett is purchasing is the P&C insurance firm Chubb. The Canadian stock that caught the attention of legendary value investor Warren Buffett was finally revealed. Morningstar strategist Greggory Warren was correct in his prediction—with the Berkshire Hathaway (NYSE:BRK-A) chairman buying shares in the Canadian property and casualty insurance firm Chubb (NYSE:CB). While the stock price for Chubb (NYSE:CB) already rose, with word of Buffett's interest circulating among trading circles for half a year, there are similar P&C insurance firms that investors could consider.

By Romana King | 05.22.24

Morningstar strategist Greggory Warren was right: The Canadian stock that Warren Buffett is purchasing is the P&C insurance firm Chubb. The Canadian stock that caught the attention of legendary value investor Warren Buffett was finally revealed. Morningstar strategist Greggory Warren was correct in his prediction—with the Berkshire Hathaway (NYSE:BRK-A) chairman buying shares in the Canadian property and casualty insurance firm Chubb (NYSE:CB). While the stock price for Chubb (NYSE:CB) already rose, with word of Buffett's interest circulating among trading circles for half a year, there are similar P&C insurance firms that investors could consider.

By Romana King | 05.22.24

Relatives can't afford the dead's final resting

Rising funeral costs are putting a significant financial burden on the living — prompting an increase in unclaimed dead bodies in several provinces across Canada. Between 2013 and 2023, the number of unclaimed bodies in morgues rose 150% in Alberta, 177% in Quebec and a whopping 388% in Ontario, according to provincial coronor office statistics. With burial and funeral costs on the rise, combined with inflationary pressures and an increase in most budgetary items, many Canadians are struggling with the cost of burying their loved ones.

By Romana King | 05.21.24

Rising funeral costs are putting a significant financial burden on the living — prompting an increase in unclaimed dead bodies in several provinces across Canada. Between 2013 and 2023, the number of unclaimed bodies in morgues rose 150% in Alberta, 177% in Quebec and a whopping 388% in Ontario, according to provincial coronor office statistics. With burial and funeral costs on the rise, combined with inflationary pressures and an increase in most budgetary items, many Canadians are struggling with the cost of burying their loved ones.

By Romana King | 05.21.24

Prime rate in Canada

Canada’s prime rate, the interest rate that major banks charge their best customers, continues to hold steady at 7.20%. The Bank of Canada also announced on April 10 that it is maintaining the overnight rate at 5.00%. "We have three main messages this morning," Tiff Macklem, Governor of the Bank of Canada, said about the policy announcement. "First, monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year. Second, growth in the economy looks to be picking up. We expect GDP growth to be solid this year and to strengthen further in 2025. Third, as we consider how much longer to hold the policy rate at the current level, we’re looking for evidence that the recent further easing in underlying inflation will be sustained."

By Rudro Chakrabarti | 04.12.24

Canada’s prime rate, the interest rate that major banks charge their best customers, continues to hold steady at 7.20%. The Bank of Canada also announced on April 10 that it is maintaining the overnight rate at 5.00%. "We have three main messages this morning," Tiff Macklem, Governor of the Bank of Canada, said about the policy announcement. "First, monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year. Second, growth in the economy looks to be picking up. We expect GDP growth to be solid this year and to strengthen further in 2025. Third, as we consider how much longer to hold the policy rate at the current level, we’re looking for evidence that the recent further easing in underlying inflation will be sustained."

By Rudro Chakrabarti | 04.12.24