Phil Bacordo

8 Flips | 2 Magazines | @PhilBacordo2014 | Keep up with Phil Bacordo on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Phil Bacordo”

Ontario takes first steps in setting up new provincial pension plan

The Ontario government is taking the first steps toward setting up a new provincial pension plan – but is also holding more consultations to work out some details.<p>The government will table legislation Monday afternoon that would set some basic rules for the pension plan, such as its 2017 start date …

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TSX falls 350 points as oil prices hit 5-year low

The Toronto stock market plunged more than 450 points by early afternoon Monday with energy stocks taking a pounding after weak Chinese trade data raised a fresh round of concerns about oil demand.<p>The S&P/TSX composite index tumbled 472.62 points, or 3.27 per cent, to 14,001.08 on top of a slide of …

Canadians’ debt at ‘unsustainable’ level to keep pace with home prices: Fitch

<i>These are stories Report on Business is following Monday, Dec. 8, 2014</i>.<p><b>'Lever up'</b><br>One of the world's major credit rating agencies is ringing new alarm bells - rather loudly - about consumer debt levels and house prices in Canada.<p>And what that could mean for the country's banks.<p>It's not the first …

Retirement: It’s not all about the money

When Barbara Mathews had the chance to retire three years early, she took it. Life, she says, "is a precious gift."<p>After a 25-year career spent carefully budgeting and saving, the former Toronto visual arts teacher didn't want to spend another moment on someone else's terms. She knows too well that …

TSX pummelled as energy stocks dive again

Canadian stocks resumed their selloff from last week, in a downturn that claimed financials in addition to commodity producers.<p>In midday trading on Monday, the benchmark S&P/TSX composite index was down 457 points, or 3.16 per cent, to 14,016.38, for its worst one-day dip of the year.<p>Crude oil …

Canada's Bombardier bows out of Amtrak's Acela procurement | Reuters

TORONTO (Reuters) - Canada’s Bombardier Inc said on Monday it is not bidding for the contract to replace Amtrak’s high-speed Acela, clearing the way for a rival to produce the next generation of the popular but sometimes troubled U.S. passenger trains.<p>The first Acela trains, which Bombardier made …