PepsiCo reported better-than-expected revenue in the first quarter on strong international demand for its snacks and beverages. The Purchase, New York-based company said revenue rose 2% to USD$18.3 billion for the January-April period. That was higher than the USD$18 billion Wall Street forecast, according to analysts polled by FactSet. Pepsi reaffirmed its financial guidance for 2024, including organic revenue growth of 4%. The company has said it expects to return to more normal rates of growth this year after several years of inflation-driven price increases. Revenue growth slowing That may ..read more

Despite a small dip in U.S. vehicle sales, General Motors’ first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles. The automaker said that while its average sales price per vehicle was down slightly from last year at just under $50,000, pickup sales remained strong, and it’s not seeing the price erosion across its lineup that other companies have experienced. (All figures in U.S. currency.) GM earnings highlights General Motors reported the following for the first quarter of 2024. General Motors (GM/NYSE): Earnings per share of ..read more

Equifax Canada is exploring how rent data could factor in to credit scores to help make credit and financial services accessible to more people. The agency said it has been testing small volumes of rental payment data to assess its suitability. An Equifax study found that including “alternative data” could establish or enhance the credit scores for millions of Canadians. “Equifax Canada has been leading the way and has been modelling how rental payments, just like mortgage payments, can help build a credit score,” Equifax Canada president and CEO Sue Hutchison said in a news release.  “Th ..read more

Who wants to pay to find out their credit score? Ten years ago, this felt really backwards to Eva Wong—so she co-founded Borrowell, the first company to offer free access to credit scores and credit reports in Canada (in partnership with credit bureau Equifax). In addition to credit scores, her company offers credit-building tools—including Rent Advantage, for tenants who want to build a credit history—and an online marketplace for loans and other financial products.  Wong is passionate about helping Canadians better understand money and credit. She’s received many accolades for her work ..read more

If your home doesn’t have a backup power supply, it’s time to think about getting one. Across North America, and Canada in particular, power outages are becoming more and more common, driven in large part by extreme weather linked to climate change. During heat waves and cold snaps, home owners crank up their air conditioning or furnace, raising the risk of electricity shortages. And, of course, extreme weather disrupts power grids—and it’s happening with alarming frequency. Severe storms can bring high winds and freezing rain, which can damage and knock down power lines. Floods, wildfires, hu ..read more

A series of academic papers being rolled out by the National Institute on Ageing (NIA) has added fuel to the oft-argued case for delaying benefits for the Canada Pension Plan (CPP) to the latest possible age: 70.  As I reported on my own site, when an introduction and overview was released on April 11, the delayed-gratification strategy can more than double ultimate monthly benefits: in fact they may be a whopping 2.2 times more when started at 70 compared to the opposite tactic of taking them as early possible at age 60. Similar dynamics are at play with Old Age Secur ..read more

“As goes January, so goes the year”—also known as the January Barometer—is a market theory that states returns in January predict those for the rest of the year. It first appeared in the 1970s and remains popular among some traders. If true, it looks like 2024 is going to be a good one for investors in Canada. Current market conditions likewise seem to be making the case to “sell in May and go away.”  While I personally do not follow or recommend this well-worn saying, its staying power is undeniable. With May within sight, Canadian investors should know what it’s all about and whether it ..read more

Ask MoneySense My mom passed away a number of years ago and sadly we just lost our dad. My brother and I are wondering about taxes owing, the timing of distributions, and if we should move all of the investments to cash. My brother and I are beneficiaries of the RRIF and TFSA, and the grandkids will also inherit money. A long time ago my parents did an estate freeze on their holding company with me and my brother, and they have a second will. There is about $200,000 in the TFSA, $450,000 RRIF, $400,000 non-registered with a $200,000 gain, and $1,000,000 in the holding company with a $250 ..read more

The other day I had to run out to buy cooking oil to make dinner. I knew which brand I wanted because it was a good size and it was cheap—$5 when I bought it about three months ago. I was surprised and annoyed to find out that the same bottle of oil, which was the exact same size and shape with the same type of oil in it, was now $7.  It had gone up $2 in the last three months. Now, that doesn’t sound like a lot since it’s “only two dollars,” which shouldn’t affect your budget. But add in other expenses like the cost of gas, other grocery items and rent, and those  ..read more

Sometime in the next few days or even hours, the “miners” who chisel bitcoins out of complex mathematics are going to take a 50% pay cut—effectively slicing new production of the world’s largest cryptocurrency in half. That could have a lot of implications, from the price of the asset to the bitcoin miners themselves. And, as with everything in the volatile cryptoverse, the future is hard to predict. Here’s what you need to know. What is “bitcoin halving”? “Bitcoin halving,” a preprogrammed event that occurs roughly every four years, impacts the production of bitcoin. Miners use farms of noisy ..read more