Good afternoon! A few things Canadians count on turned out shakier than expected this week — the market calm your RRSP depends on, the exchange handling a $5M transfer, and the "pure" label on your pantry staple. None of them held up quite the way you'd expect.
On The Money Today:
Why a Trump statement about Iran just moved your RRSP
What happens when a money-transfer business can't pay customers back
Why your "pure" maple syrup might not be so pure
Let's dive in.
INVESTING
A Trump warning about Iran just cost your RRSP thousands — how to protect your money
When Washington threatened "economic D-Day" against Iran, oil spiked, bond yields jumped, and U.S. markets dropped — and a lot of that lands directly in Canadian RRSPs, which hold more American stock than most people realize. Here's what a single bad session actually costs a $500K portfolio, and what to check before you react.
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NEWS
$5M frozen at a BC currency exchange, with no one to help
Customers of a North Vancouver money-transfer business say life savings and home-sale proceeds are stuck, with little regulatory protection to get them back. Dozens gathered outside the storefront this week demanding answers, some saying their money has been tied up for weeks or months with no resolution in sight. See why businesses like this fall outside normal deposit insurance.
MUST READ
A class-action lawsuit accuses Loblaws, Metro and Sobeys of selling maple syrup cut with cheap cane sugar, and claims the grocers should have caught it before it hit shelves. Lab testing on cans bought at a local grocery store found the "pure" syrup was actually made of at least half cane sugar, and the suit covers sales dating back to 2010, meaning the affected group could number in the millions. What it could mean if you've bought the product recently.
MONEY IQ
ALSO MAKING THE ROUNDS TODAY
NEWS: Ford met Loblaw's CEO for lunch a day after killing a grocery price cap bill, and what the timing means for your bill
BUDGETING: He makes $200K a year and has nothing to show for it. Dave Ramsey's advice to a Canadian mechanic, and the lesson for anyone living paycheque to paycheque
ECONOMY: JD Vance mocked Carney's trade strategy in a leaked recording, then 50% tariffs hit $28B in Canadian goods days later. What it could cost at checkout
BUDGETING: 5 biggest differences between rich and poor Canadians. Which side do you fall on
MONEY IQ: HOW'D YOU DO?
Answer: C) 70% — Canada, and Quebec in particular, produces the vast majority of the world's maple syrup, with strict rules meant to protect that "pure" label. It's exactly why allegations of a cane-sugar cut touch such a nerve.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every reply.
