Here are some of the stories that caught our eye this week:
BoC rate hike is putting stress on Canadians’ finances
Forum Research polled Canadians this week on the recent Bank of Canada interest rate hike, which saw the overnight rate increase by a quarter of a percentage point to 0.75%. The company’s research suggests that about one-third of Canadians believe the interest rate hike will hurt their finances. To add to these financial stresses, nearly three-quarters of Canadians polled believe their living costs have increased over the past three years.
Read the Financial Post’s overview of the findings, here.
Robo-advisor launches halal investing portfolio
Toronto-based robo-advisor Wealthsimple launched a halal investing portfolio, built for practicing Muslims, which avoids investments in industries and products prohibited by Islamic law. The company described the launch of this new portfolio as a way of meeting the needs of an “underserviced groups of investors”, in a similar vein as the launch of their socially responsible investing portfolio last year, which was marketed as a fund for socially-conscious millennials.
Toronto’s Got (tech) Talent
The CBRE recently published it’s Scoring Tech Talent Report – and put Toronto near the top of its list as one of North America’s fastest-growing tech markets. The report cites Toronto’s talent for producing leaders in the AI field as one of the many reasons why the city is a prime destination for tech pros. Toronto was also identified as one of the “a href=”http://dailyhive.com/toronto/cbre-report-toronto-tech-market-2017″ target=”_blank”>best-value markets for tech firms” to set up shop and operate their business, based on cost and quality of talent. Go Toronto!
Moneytis is the Expedia for money transfers
If you’re a fan of Ratehub.ca’s product comparison platforms, you may want to check out Moneytis. The money transfer company allows users to compare international money transfer services based on various criteria such as speed, value and popularity, with no additional added fees.