Economy shrank in May after stagnant April: StatsCan

OTTAWA - The economy shrank by 0.3 per cent in May, the second consecutive monthly decline, with slumps in mining, and oil and gas production leading the downturn, according to a report by Statistics Canada.

Beyond debt ceiling, U.S. needs own GST

For drama, it might seem difficult to top the past couple of weeks on Capitol Hill, but the debt ceiling debate in the United States is really only the opening act of a long-running production.

Timeshare Auctions

Timeshare auctions are a great way of getting your own vacation week (or points) for you and your family without having to track a reseller down and negotiate. And like any timeshare resale, they also offer big savings over what you can expect to pay if you were to buy a timeshare while attending a timeshare presentation.

Iceland

Iceland is a small but rugged country far from anywhere that has suffered from financial wreckage as severely as any in the developed world after Iceland’s overstretched banks failed in 2008.

Why Canadian mortgage rates are on a roller coaster

If there's one question being kicked around the barbecue more than any other this summer, it's probably this: should I lock in my variable rate mortgage?

Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA, July 19, 2011 /CNW/ - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Top 20 of Best Places to Invest in Europe!

Investment has always been a sign of confidence. And confidence has been in short supply over the past few years as a credit crisis and now a sovereign debt crisis affect many parts of the world.

Gold price hits all-time high on US debt concerns

The price of gold has risen to a fresh all-time high of $1,594.16 an ounce, and the dollar has fallen, on concerns the US may default on its debts.

C.D. Howe Institute monetary policy council urges Bank of Canada to raise rates

OTTAWA - The C.D. Howe Institute's monetary policy council recommended Thursday the Bank of Canada raise its target for the overnight interest rate. The group of economists recommended the central bank raise the key rate by a quarter point to 1.25 per cent at its rate announcement next week. Bank of Canada governor Mark Carney is expected to keep rates on hold at one per cent when the announcement is made July 19.

Italian markets hammered as Europe's debt crisis spreads

The cost of Italian government's long-term debt soared to a ten-year high as Europe's financial crisis spread to the continent's third-largest economy.

10 best cities to buy a rental property

Low home prices and relatively strong rents are expected to make real estate investors in these cities some healthy profits over the next few years. Here are the top 10 markets ranked highest in investment return.

Trade Deficit Soars to Highest Level in Nearly Three Years

The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports.

Warren Buffett's 5-Minute Plan to Fix the Deficit

Warren Buffett says he could fix the U.S. deficit problem very quickly.

Here's his not-entirely serious (but not entirely joking either) plan, as told to Becky Quick during this morning's live interview on CNBC:

Average House Prices a Misleading Gauge of the Health of the Canadian Real Estate

The Canadian housing market is becoming highly segmented and multi-dimensional which is making traditional measures, like average prices, increasingly irrelevant in gauging the health and state of the sector, finds a new report from CIBC World Markets Inc.

Vacancy Rate in Seniors’ Housing Residences

 The vacancy rate for standard spaces¹ in seniors’ residences remained relatively stable at 10.7 per cent in 2011, compared to 10.8 per cent in 2010, according to Canada Mortgage and Housing Corporation Seniors’ Housing Report, Canada Highlights edition.

Obama calls on party leaders to cut deal that would stave off US debt default

WASHINGTON - President Barack Obama summoned leaders of both parties to the White House to hammer out a deal to stave off a U.S. debt default with the potential to trigger a major, worldwide financial crisis.

7 Smart Steps Every New Homeowner Should Take

Turning the key in a lock that no landlord has access to, reading in a hammock in your own backyard and painting your dining room bright red - what could be more exciting than making the leap from renter to first-time homeowner? Getting swept up in all the excitement is a wonderful feeling, but some first-time homeowners lose their heads and make mistakes that can jeopardize everything they've worked so hard to earn.

Montreal may be country’s hottest market

A new report is identifying Montreal and Ottawa – not Vancouver – as the country’s hottest housing market.

5 Factors That Could Send The United States Economy Into A Double-Dip Recession

A whole lot of economists and market prognosticators are predicting that the United States economy is slowly slipping back into a recession. The growth rate in the economic recovery has slowed, and a lot of disappointing economic news has been released recently. Whether the economy is taking a turn for the worse or not remains to be seen. A few factors, however, could send the United States economy into a double-dip recession.