Court rejects class action by lottery ticket buyer who didn't know her chances were slim
Posted on 25 August 2023MONTREAL -- Quebec's Court of Appeal has ruled that a woman who claimed Loto-Quebec misled her on her chances of winning a jackpot cannot launch a class action against the provincial Crown corporation. The decision announced today upholds a previous Quebec Superior Court judgment that also rejected the request. The lead plaintiff, Martha Karras, said she had been buying 6/49 lottery tickets for ...
Captain Rizk: The story behind the Casino Mascot
Posted on 14 December 2021Rizk Casino is one of the very few online casinos that has taken the gambling experience to a whole new level, with a more modern and youth-centric approach. Behind this largely successful and reputable casino is the famed “Captain Rizk”. Rizk took the online casino industry by storm in 2016 and upon realizing the unique interest of newer and younger generational players, the opera ...
What you need to know about deducting interest on your taxes for investment loans
Posted on 16 May 2018The interest expense when you borrow money, either through your margin account, an investment loan or a line of credit, and use it for the purpose of earning investment income is generally tax deductible.This tax deduction is important since it can dramatically reduce your true, effective after-tax cost of borrowing. For example, if you live in Nova Scotia, and you pay tax at the top com ...
Getting shipwrecked on T1135 island an unpleasant fate for taxpayers
Posted on 15 May 2018Sherwood Schwartz and George Wyle weren’t thinking tax when they composed “The Ballad of Gilligan’s Isle” in 1964. But those memorable lyrics came to mind as I read of a taxpayer’s recent battle with the Canada Revenue Agency and her trip to court. The case involved the notorious Form T1135, Foreign Income Verification Statement, which is required to be filed if you own foreign property ...
With low income and little savings, selling rental property this couple's best bet on road to retirement
Posted on 15 May 2018Situation: Low earned income, low investment returns and hefty disability payments keep couple afloat. Solution: Raise investment income, extend husband’s work part time to build savings, cut spending. In Alberta, a couple we’ll call Phil, 65, and Celeste, 56, are moving toward retirement, pushed by age and health issues. Phil, a financial services manager, ...
Millennials are already feeling the pinch of higher interest rates and spending less
Posted on 15 May 2018More than half of Canadians under 35 years old said they are spending less because of recent interest rate increases, according to a survey by Nanos Research. Some 30 per cent of respondents in that bracket report higher rates are having a negative impact on their personal spending, with another 23 per cent saying the effect is somewhat negative. Among respondents of all ages, 41 per cent reporte ...
Barclays, execs in UK court over fraud allegations
Posted on 03 July 2017LONDON — Barclays and four of its former executives, including the ex-CEO, appeared in court in Britain on Monday on charges of conspiracy to commit fraud connected with efforts to raise funds from Qatar and avoid a bailout during the 2008 financial crisis.The charges are the first in Britain against a bank and former executives for activities during the crisis.At the heart of the case ...
Caesars Hauls Itself Out of Bankruptcy
Posted on 25 January 2017Caesars Entertainment is at last ready to drag its main operating unit,
Caesars Entertainment Operating Co. (CEOC), out of bankruptcy.
Its bankruptcy reorganization plan was approved Tuesday by
Judge Benjamin Goldgar in a Chicago court, putting to bed (we hope) a
two-year saga that one of Caesars own lawyers described as “the largest
and most complex bankruptcy in a generation.”It
...
Trump Endorses L.L. Bean after Founders Granddaughter Donates $60,000
Posted on 14 January 2017AUGUSTA, MAINE—President-elect Donald Trump is urging people to buy L.L. Bean as the company faces calls for a boycott because of a family member’s donations to his candidacy.Trump on Thursday tweeted his thanks to Linda Bean, a granddaughter of the outdoors retailer’s founder, and cited her “great support and courage.” He ended by saying, “Buy L.L. Bean,” garnering criti ...
