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Despite the economic downturn, net earnings rose to $50.3 million from $46.8 million on revenue of $75.1 million, which fell slightly from $75.6 million.

Much of the profit gains were made from corporate streamlining that led to a $17 million decline in its operating expenses for the year. One-time revenue also offset one-time expenses and one-time losses from its investments in asset-backed commercial paper and commercial real estate.

Read the full article on the Business in Vancouver web site.

The survey found that close to 70% of Canadian retirees say their retirement is exactly or mostly what they were expected. In contrast, only 47% of Americans said the same thing. About 25% of American retirees say that they are not living their retirement dream at all and 29% of retirees say their retirement is very different from what they imagined.

Read the full article on the Business in Vancouver web site.

A Scotiabank survey found that 73% of Canadian investors have not changed the age they plan to retire, despite the volatile markets and economic roller-coaster during the past two years.

The average investor plans to retire at age 61, with 49% planning to retire before the age of 65.

Still, 22% are planning to delay retirement, with a greater proportion of people 45 to 64 years of age deciding to push back their retirement date.

Read the full article at the Business in Vancouver web site.

With the March 1 contribution deadline for registered retirement savings plans less than a month away, three of Canada’s big banks released surveys on Thursday, not-so-gently reminding Canadians of the pressing need to start saving for their golden years right now.

A Bank of Nova Scotia study found that 73 per cent of Canadian investors surveyed said the age at which they plan to retire has not changed, despite the uncertain economic and market conditions of the past two years. However, of the 22 per cent of Canadian investors who are pushing back their retirement date, 56 per cent per cent are aged 45 to 64 and therefore closest to retirement. The study also revealed that the average Canadian investor plans to retire at the age of 61.

Read the full article on the Globe and Mail web site.

About two-thirds of British Columbians and a similar proportion of Atlantic Canadians worry about their debt, higher than the national average of 58%. Only 13% say their personal financial situation is better than three months ago, compared with the national average of 21%.

B.C. residents also feel they will be debt free later, at age 58, versus 57 for other Canadians.

Read the full article at the Business in Vancouver web site.

The UBC study is the first to use real estate variables to test an Olympic Games’ economic impact on host cities. Researchers analyzed housing prices and construction employment of local real estate markets in the U.S., Canada and Australia for the period from when a host city wins the Games to six years after the Olympics.

Tsur Somerville, lead author of the report said, “We do not find support for the argument of host city backers that the Olympics delivers positive economic benefits, nor of the arguments made by opponents that there is some post-Olympic bust.”

Click here to read the full article on the Business in Vancouver web site.

At midday, the Toronto Stock Exchange’s S&P/TSX composite index was down about 135 points, or 1.2 per cent, to 11,630. Materials and energy stocks were among the biggest decliners.

One the main annoyances for investors here and elsewhere was a move by China to reduce new lending at its banks by about 20 per cent compared to last year in order to keep the economy there from overheating.

Click here to read the full article on the Vancouver Sun web site.

The business unit offers custom payment solutions and supports transactions from all major credit cards and private-label travel, entertainment and fleet cards.

Click here to read the full article on the Business in Vancouver web site.

While saying market conditions and the global economy have improved, and that Canada’s exposure to a near-term negative shock has “declined modestly” in the past six months, the central bank used its semi-annual review of the financial system to highlight risks posed by homeowners taking on mortgages they may not be able to handle when borrowing costs rise.

Click here to read the full article on the BNN web site.

From books and music, to games and electronics, to clothing and accessories, and even groceries and charitable donations, INTERAC Online is available at a wider variety of retailers than ever before this holiday season. INTERAC Online allows consumers to do their holiday shopping online from the comfort of their own home or office while paying directly from their bank account.

“Canadians are increasingly turning to the Internet for their purchases and as high users of debit, many will also be turning to INTERAC Online for secure and reliable payments,” said Caroline Hubberstey, Director, Public and Government Affairs, Acxsys Corporation, whose shareholders are the architects of the INTERAC network.

For those who prefer to hit the Internet instead of the malls to do their holiday shopping this season, INTERAC offers a few tips to ensure an enjoyable online shopping experience.

Click here to read the full article on the Newswire web site.

Only 16% of Western Canadians said they enjoyed holiday shopping, less than Quebeckers (17%), Atlantic Canadians (18%) and Ontarians (19%). Coincidentally, the survey found that the majority (56%) of Western Canadians have not delayed their holiday shopping, with a third of respondents having started or finished their shopping before December. About 44% said they plan to finish their holiday shopping in the two weeks before Christmas.

This year’s survey found that Western Canadians were the most likely to decrease their holiday spending this season (39%), followed by Ontarians (37%), Atlantic Canadians (33%), and Quebeckers (31%). Most plan to spend about $450, which is lower than the median spending average of $500 by Ontario and Atlantic Canadian consumers. Quebeckers plan to spend the least with a median average of $300.

Click here to read the full article on the Business in Vancouver web site.

Higher financial income and a positive change in the fair value of its financial investments were cited as the reason.

It reported third quarter net income of $35.5 million compared with a loss of $1.3 million. Its interest margin increased 52.5% to $20.9 million from $13.7 million, benefiting from a sharp increase in deposits in B.C. and Ontario credit unions, higher credit spreads on its investment portfolio and the lower cost of funds in capital markets.

Central 1′s net financial income rose to $46.8 million, up from $1.2 million in the same period a year ago primarily from a net gain of $25.9 million from the disposal of financial instruments and an increase in the fair value of its remaining financial instruments.

Click here to read the full article on the Business in Vancouver web site.

Almost half of first-time home owners aged 18 to 34 bought a house that was at least 21 years old, compared with only 27% of home owners aged 55 and up.

“While older homes often sell for a more attractive price, first-time buyers need to keep in mind that the purchase price and mortgage payments are not the only costs associated with owning a home,” said Chris Wisniewski, TD’s group product manager of real estate secure lending. “An older home may need more work, which means putting some money aside for repairs and renovations.”

Click here to read the full article on the Business in Vancouver web site.

B.C.’s CPI fell 0.6% following a 1.2% decline in September. Nationally, the CPI rose 0.1% in October following a 0.9% decline in September.

B.C. was the largest province to see price declines in October, with the Yukon, Newfoundland, PEI and Nova Scotia rounding out other provinces reporting declines.

Click here to read the full article on the Business in Vancouver web site.