Survival guide to balance transfers

Consumer debt on credit cards now stands at £65.7bn - around £2,430 for every household in the UK. 

For a card bearing the average interest charge, it would take 25 years and 6 months to repay if you only made the minimum payments - around £58 - each month, according to figures from the Money Charity. 

Paying down the debt is crucial, but in the meantime there is another way to help yourself manage the debt- one that doesn't invove pulling endless overtime or doing shifts at your local. 

Transferring the balance from one high interest charging card to a better deal could save the typical plastic debtor hundreds of pounds over the life of the debt.

But the deal you choose depends on your circumstances as well as attitude to debts -both credit card, and in some circumstances overdrafts. The good news is that it tends to come down to just two providers - for now at least.

Cheapest 0 per cent deals

For the best deals up front, calculating the pros and cons of the fees is vital, typically at the expensive of longer interest free periods.

The best, cheapest per cent deals on out there right now include Virgin's 32 month 0 per cent offer, which carries a 1.69 per cent transfer fee on credit card balances or __money transfers (such as overdrafts) after a refund.  

Or MBNA's 24 month interest free period offer carries a 1.99 per cent fee. 

Longest 0% __money transfer cards

For a little more wriggle room, Virgin's 36 month deal comes includes a transfer fee at 2.39 per cent, or MBNA will match the term for a slightly higher 2.99 per cent  fee. 

The longer the 0 per cent period, the higher the fee though, and at 41 months, Virgin offers the longest deal but at a fee of 3.79 per cent. 

Long-term low-rate card

But if it's time you're after, the current best buy is for long terms, low interest rates and a decent balance transfer fee, the current best buy is MBNA's 60 month offer at 4.9 per cent, with a fee of 0.5 per cent. 

All product details are correct at the time of publishing.

Looking for credit card or current account deals? Search here

Civil rights groups brace for 'chaotic election'

Why the poor don
Why the poor don't vote

Imagine going to the polls on election day and your polling location has been shut down or your right to vote challenged or worse, you're taunted by people at the polling site because you're a person of color.

These are just some of the concerns that civil rights groups around the country have as early voting begins. Groups representing Latino, Black, Asian, Arab and Muslim-American voters are preparing for what they expect will be a confusing and contentious presidential election.

"We are on the precipice of the most chaotic election for people of color in 50 years," said Wade Henderson, president of the Leadership Conference on Civil and Human Rights on Wednesday. "We are doing everything we can to prevent discrimination, intimidation and violence at the polls."

Henderson and other civil rights groups say they are growing particularly worried as Donald Trump ratchets up claims that the election is "rigged" and calls for his supporters to monitor the polls.

On Wednesday, a group named the Oath Keepers called on "retired police officers, our military intelligence veterans, and our Special Warfare veterans" to "apply their considerable training in investigation, intelligence gathering, and field-craft to help stop voter fraud."

In response to the Oath Keepers' release, Kristen Clarke, president and executive director of the Lawyers' Committee for Civil Rights Under Law, issued a statement: "There is no place in our democracy for this form of vigilantism and extremism," particularly since "their efforts seem directed against minority communities." The organization is urging voters to call 866-OUR-VOTE if they encounter intimidation tactics at the polls.

Rev. Dr. William Barber, the president of the North Carolina NAACP, said his offices have been "inundated with complaints" since early voting began in the state. In a conference call Thursday, Barber noted reports of hecklers photographing black voters during events and one instance where KKK-inspired graffiti was written on a street in front of a black church where a "souls to the polls" event was being held.

"It is, in fact, voter suppression that is the legal threat in this election," Barber said.

The NAACP noted that more than 100 voters in Beaufort County, North Carolina, had their voter registration challenged after local residents raised questions to the local election bureau about whether they could legally vote in the county. Of that group, nearly 60% of the residents whose voting rights were being challenged were African-American, the NAACP said.

One of them was 100-year-old Grace Hardison, who has been registered to vote for 30 years. Hardison's nephew called the local board of elections to confirm her residency and the case was withdrawn, said Kellie Hopkins, director of elections for Beaufort County. The other cases are being reviewed.

"This is citizen versus citizen," Hopkins said, citing a state law that allows registered voters to challenge the voting rights of other people in the county. "They are within the law."

How we got here

Clarke and others say they are keeping a close eye on states where critical protections provided by the 1965 Voting Rights Act were removed following the Supreme Court's "Shelby County v. Holder" decision in 2013.

Before the court's ruling, certain states and municipalities with a history of racial discrimination and intimidation at the polls were required to get approval from the federal government before making any changes to their voting laws or regulations. (Among others, the states included Arizona, Louisiana, Mississippi, South Carolina, Texas and parts of New York, North Carolina and Michigan.) Since then, states like North Carolina and Texas have tried implementing new voter registration requirements, such as requiring multiple forms of identification, and cutting back on early voting and same-day registration.

"Shelby hurt," said Justin Levitt, a deputy assistant attorney general who oversees voting efforts at the Department of Justice. "We used to be able to stop discriminatory laws and practices in the jurisdictions with the most troubling histories before they took effect."

Instead, the DOJ must wait to respond once discriminatory practices have been put in place by the states, which is what they did in North Carolina and Texas.

And while the laws in those states have, for the most part, been knocked down by lower courts, activists are still concerned about voters or poll workers who may be misinformed of the changes. Levitt said the DOJ was expected to send "hundreds of people" out as poll monitors in about 25 states, but that will be fewer than the 780 monitors and observers the department deployed in 2012 prior to the Shelby ruling.

"The vast majority of local election officials have a very strong interest in making sure the process of elections runs smoothly," said Levitt. "And just in case, we are also watching."

Help at the polls

Civil rights groups are using a combination of mobile apps, hotlines staffed by pro bono attorneys and trained volunteers to help monitor the polls and protect voters' rights.

"Our fear is that you are going to have people that are going to go into districts that are predominantly of color, immigrant communities and harass them, asking where is their proof of citizenship," said Samer Khalaf, president of the American-Arab Anti-Discrimination Committee. The group plans to send observers to polls in areas where there are large Arab populations, including Dearborn, Michigan, Paterson, New Jersey and Astoria, New York.

Maya Berry, the executive director of the Arab American Institute urged voters needing assistance in either English or Arabic to call the Yalla Vote hotline at 844-418-1682.

Joanna E. Cuevas Ingram, associate counsel at the LatinoJustice Puerto Rican Legal Defense & Education Fund in New York said the organization is concerned about "threats to people's access to the ballot itself and to their physical safety."

She highlighted a new LatinoJustice app called "Cada Voto Cuenta" ("Every Vote Counts") that will allow voters in New York, Pennsylvania, North Carolina, Georgia and Florida to report any problems at the polls. LatinoJustice is also recruiting attorneys who will answer calls and monitor the polls.

Erin Hustings, a senior policy analyst for the National Association of Latino Elected and Appointed Officials Educational Fund, said she was concerned about intimidation of voters in less metropolitan communities that have growing Latino populations like Finney County, Kansas. "Many Latinos will be voting for the first time this fall," Hustings said, citing the increase in young voters, naturalized citizens and Puerto Ricans migrating to the mainland U.S. According to the Pew Research Center, 27.3 __million Latinos will be eligible to vote in this election compared to 23.3 __million in 2012.

She recommends the hotline 888-VE-Y-VOTA, which is sponsored by groups including NALEO, Univision and the National Council of La Raza, and will have representatives who speak both Spanish and English.

CNNMoney (New York) First published October 28, 2016: 2:48 PM ET

Peter Thiel defends his support of Donald Trump

Peter Thiel in 108 seconds
Peter Thiel in 108 seconds

Peter Thiel made a passionate argument Monday that the United States needs a Donald Trump presidency to correct the plight of the average American.

Thiel, a billionaire tech investor known for his contrarian nature, has stirred controversy in Silicon Valley with his endorsement of Trump.

Thiel pushed back against critics, arguing that the struggles of the common man are a signal of failed leadership in Washington. Thiel pointed to the fact that median wages for the average American have been flat for decades. He described the United States as a "broken system," and noted that nearly half of Americans lacked the savings to pay a $400 bill in an emergency.

"Most Americans don't live by the [Washington] Beltway or San Francisco Bay. Most have not been a part of that prosperity," Thiel said. "What Trump represents isn't crazy and it's not going away."

Thiel also distanced himself from Trump's controversial remarks about women, calling them clearly offensive and inappropriate.

"I don't agree with everything Donald Trump has said and done. I don't think the other millions of people voting either do," said Thiel, who has pledged $1.25 __million to Trump's campaign. "We're voting for Trump because we judge the leadership of our country to have failed."

Thiel argued that Trump is right on free trade and its impact on average Americans as factories and jobs have gone overseas. He criticized the country's large trade deficit, and history of expensive wars such as Iraq.

The investor pointed to the Manhattan Project and Interstate Highway Systems as examples of when the U.S. government was more effective.

"This is the first time I've done something that's conventional," Thiel said of endorsing Trump. "It didn't feel contrarian."

Thiel also defended his role as the benefactor of Hulk Hogan's invasion of privacy lawsuit against Gawker Media. The lawsuit forced Gawker into bankruptcy where it was purchased by Univision, which shut down the flagship site.

Thiel said he isn't underwriting any other lawsuits against news organizations and dismissed the notion that his efforts set a dangerous precedent.

Instead, he stressed that the legal system is cost prohibitive for many.

"One of the striking things is if you're middle class, if you're upper middle class, if you're a single-digit millionaire like Hulk Hogan, you have no effective access to our legal system. It costs too much."

--Tom Kludt contributed to this report.

CNNMoney (Washington) First published October 31, 2016: 12:12 PM ET

Shanked! Titleist IPO lands in the rough

Golf legend Greg Norman on how to save golf
Golf legend Greg Norman on how to save golf

Golf is still looking for its next Tiger Woods. And so are golf equipment makers. The latest golf company to disappoint investors? Titleist and FootJoy owner Acushnet.

Acushnet (GOLF)shares debuted on the New York Stock Exchange Friday. The stock was only up 4% to around $17.70 a share in early afternoon trading. That's a lackluster debut for a new offering. But it's even worse when you know the full story of the company.

The company had originally expected to price its shares in a range of $21 to $24 a share. But demand was slack, forcing the company to price at $17.

So the small gains for the stock are nothing to write home about. It's like finally hitting a shot onto the green -- after you've already plunked your ball in a water hazard a few times.

It's been a long road to an IPO for Acushnet. The company was originally part of the old Fortune Brands conglomerate.

Fortune Brands sold Acushnet in 2011 to South Korea's Fila and some private equity investors.

Fila decided earlier this year that it wanted to spin off a portion of its Acushnet stake. The timing didn't appear to be ideal though.

Acushnet owns some of the most recognizable brands in golf. And it has arguably the best ticker symbol ever considering what the company does. GOLF. But golf now seems to be a four-letter dirty word. The sport is hurting.

Even though there are several young stars in the game -- Jason Day, Henrik Stenson, Dustin Johnson, Jordan Spieth and Rory McIlroy jump to mind -- none of them are as dominant as Woods.

And that's exactly what the sport needs. Another superstar. TV ratings are down.

It didn't help that only a few of the top-ranked male golfers decided to go to Rio to play in the Olympics -- the first time golf was in the Summer Games since 1904.

The lack of a Woods or other dominant player like Jack Nicklaus or Arnold Palmer (RIP Arnie!) is clearly a problem for most golf equipment companies.

Even though the women's game is thriving, it looks like that isn't enough to move the needle for the sporting goods giants.

Nike (NKE), which has Tiger Woods as an endorser, announced this summer that it was getting out of the golf equipment business.

The House of Swoosh will no longer sell clubs and balls, but it will continue to make golf shoes and other apparel.

Adidas (ADDYY) also said earlier this year that it plans to sell its TaylorMade, Adams and Ashworth equipment brands in order to focus more on Adidas-branded golf apparel.

Under Armour (UA) made big waves when it signed Spieth to a deal a few years ago. But that company is now struggling as well.

The only publicly traded golf company that's actually doing well is Callaway Golf, the maker of Big Bertha drivers and other equipment.

Shares of Callaway are up 8% this year and the company recently reported strong earnings. But the stock has pulled back from its highs lately.

And Callaway's stock is still trading well below the peak prices it hit in the late 1990s as recessions in 2000 and 2008 took their toll. Golf is an expensive game to play. So the business is not immune to economic slowdowns.

Callaway CEO Chip Brewer admitted in an interview with CNNMoney that golf is a tough business.

"You need to be a specialist," Brewer said. "Golf equipment is hard, but we love it."

But even specialists may not thrive at a time when people just don't seem as interested in heading to the links -- or watching the game as much as they used to on TV.

Acushnet's tepid IPO performance appears to be just the latest bit of bad news for the sport. At best, the stock is a double bogey.

CNNMoney (New York) First published October 28, 2016: 1:09 PM ET

Justin Trudeau puts signature on CETA free trade deal

Small Town BC: Mission

Halloween by the numbers: How much are you spending?

The scariest thing about Halloween might be how much money Canadians fork over for it.

Close to $400 __million was spent across the country a couple of years ago — on Halloween candy alone. The figure may be less surprising when you consider how many trick-or-treaters there are.

Last year, Statistics Canada estimated roughly 3,816,018 kids aged five to 14 knocked on doors.

Costumes tend to be the priciest part of Halloween, according to a RetailMeNot survey, which broke down our spending last year:

  • $52 for costumes
  • $43 for decorations
  • $42 for  candy

  • Story continues below

    Related

    • Halloween party decor ideas Take your Halloween entertaining to the next level with these tutorials

    • Craigdarroch ast Haunted hotspots to check out across Canada this Halloween

    • Native Headdress 7 inappropriate Halloween costumes that will come back to haunt you

    Global News

“Halloween can be an expensive time of year for many Canadians, especially if you are trying to play catch up with your summer time credit card bills,” warned Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada.

“It can put you in debt if you are not careful.”

READ MORE: 6 tips for making your own Halloween costume

Aside from resurrecting old accessories and costumes, hit up a consignment shop if you still need a last-minute creation.

A trip to the dollar store, where you can finds loads of Halloween stuff including makeup, can also help.

READ MORE: 5 things you should buy at the dollar store

Or do what one Global News employee (who wishes to remain anonymous) plans to:

“I’ll be in my house drawing the blinds and trying to cook in the dark so I don’t get any trick-or-treaters.”

Let us know how much Halloween has cost you this year in the comments section below.

halloween-costs

FBI chief may have broken law on Hillary Clinton emails: Top Senate Democrat

WASHINGTON – The top Senate Democrat said Sunday that FBI Director James Comey may have broken the law when he disclosed 11 days before the election that investigators had newly discovered emails that may be relevant to the inquiry into Hillary Clinton‘s private email server.

Story continues below
Global News

In a scathing letter to Comey, Minority Leader Harry Reid of Nevada accused the FBI chief of a double standard, resisting Democratic calls to discuss possible ties between Donald Trump and the Russian government while informing Congress last Friday of the emails found in the sexting investigation of Anthony Weiner, the former New York congressman and estranged husband of Huma Abedin, a top aide to Clinton.

READ MORE: FBI obtain warrant to search emails, knew about potential link to Clinton for weeks

“Your actions in recent months have demonstrated a disturbing double standard for the treatment of sensitive information, with what appears to be a clear intent to aid one political party over another,” Reid said. “I am writing to inform you that my office has determined that these actions may violate the Hatch Act, which bars FBI officials from using their official authority to influence an election. Through your partisan actions, you may have broken the law.”

Comey jolted the White House race with his letter to Congress informing lawmakers of the newly found emails. Democrats fear the discovery creates fresh momentum for Republican Donald Trump in the final week of the presidential race as well as for down-ballot Republicans running for the Senate and the House.

With more than a half dozen toss-up or competitive Senate races, nearly all involving Republican-held seats, Democrats have a chance at reclaiming the majority. The one competitive Democratic seat is held by Reid, who is retiring at the end of the year.

WATCH: Hillary Clinton calls letter from FBI Director ‘strange, unprecedented and deeply troubling’

Reid, never one to shy from a political fight in the heat of a campaign, said once Comey “came into possession of the slightest innuendo related to Secretary Clinton, you rushed to publicize it in the most negative light possible.”

Reid underscored that he has been a supporter of the FBI director and fought for Comey’s Senate confirmation when Republicans blocked the nomination.

“I led the fight to get you confirmed because I believed you to be a principled public servant,” Reid wrote. “With the deepest regret, I now see that I was wrong.”

Separately, former Attorney General Eric Holder and dozens of other former federal prosecutors signed a letter critical of Comey’s recent actions in the Clinton email case.

READ MORE: Hillary Clinton facing awkward coexistence with FBI director Comey if elected

The letter obtained Sunday by The Associated Press contends that Comey deviated from Justice Department policy when he alerted Congress to the new discovery of emails potentially related to the Clinton email investigation.

Justice Department officials are instructed not to discuss ongoing investigations and to “exercise heightened restraint near the time of a primary or general election,” to avoid the appearance of prosecutorial influence in the electoral process, according to the letter.

“We cannot recall a prior instance where a senior Justice Department official – Republican or Democrat – has, on the eve of a major election, issued a public statement where the mere disclosure of information may impact the election’s outcome yet the official acknowledges the information to be examined may not be significant or new,” the letter states.

READ MORE: Clinton emails: Should FBI director James Comey have told Congress about probe?

The emails were found on a device seized during an unrelated criminal sexting investigation of Weiner.

Comey acknowledged in a letter to FBI colleagues on Friday that he knew the letter was at risk of being misunderstood so close to the election, but that he felt obliged to update Congress on the emails after having earlier told lawmakers that the email inquiry had been closed.

But the ex-prosecutors say Comey’s letter was so devoid of detail as to “invite considerable, uninformed public speculation” about the emails’ significance. They note that Comey did not reveal who had sent or received the emails, whether the emails include duplicates of messages that have already been reviewed or whether the emails contain any classified information.

The letter is signed by dozens of attorneys, including former Justice Department officials in Washington – among them, former deputy attorneys general James Cole, Jamie Gorelick, Larry Thompson and David Ogden – and a group of United States attorneys and assistant U.S. attorneys.

Dog spooked by fireworks runs off, hit and killed by SkyTrain

A devastated dog owner in Vancouver is warning against excessive use of fireworks and firecrackers after her dog, who was scared by the loud explosions, ran onto the SkyTrain tracks and was fatally hit by a train.

Ali Fluevog was enjoying a Saturday afternoon in Trout Lake Park with her husband, two sons, and the family dog Maggie, a black Chow-Labrador cross. Her husband took Maggie and their youngest son to the off-leash area of the park, when explosions began to go off.

Story continues below
Global News

“We went during daylight hours because we know that during Halloween, lots of firecrackers and fireworks go off [at night], so we don’t take [Maggie] out after dark,” said Fluevog, explaining that Maggie was a rescue dog who was still skittish when it came to loud noises.

Maggie bolted at the explosions, and Fluevog’s husband alerted his wife. The family searched and called neighbours, until they heard Maggie had been spotted at the Nanaimo SkyTrain station.

When the family arrived, it was too late. Maggie had run down the tracks towards the 29th Street station, and was hit and killed by an oncoming train.

“We were able to get her collar back, but we weren’t able to see her,” said Fluevog. “They took her body to Animal Control, and the city’s been wonderful. Now it’s just about explaining it all to our kids.”

maggiedog2

TransLink hasn’t issued a formal statement, but a spokesperson told Global News that transit staff had tried to coax Maggie back onto the platform at Nanaimo, during which time the trains were stopped. Maggie did jump back onto the platform, allowing trains to start again, but she jumped back down to the tracks and was hit before staff could stop the trains once more.

The spokesperson also said the staff involved with the attempted rescue were “traumatized” by Maggie’s death.

For Fluevog, the tragic incident is an opportunity to make sure something like this doesn’t happen again, and to warn both dog owners and fireworks enthusiasts alike about the dangers such products pose when set off in residential areas.

To the users of fireworks, Fluevog says, “Stop and think. Think about where you’re doing it, think about why you’re doing it…. In a dense city like Vancouver, where there’s so many dog lovers, it’s just not the place to do it. Go somewhere else.”

Lorie Chortyk of the B.C. SPCA says it’s important for dog owners to know that even if your dog is normally calm and unfazed by loud or unexpected noises, Halloween can prove to be a stressful time for an animal.

“We do really encourage people to always have their dogs on a leash if they’re out,” said Chortyk. “We recommend on Halloween night, if you have an anxious dog, to put them in a room as far away as possible from the front door, with some toys and treats and even a radio or television on, so they don’t get too spooked out by the strangeness of it all.”

Fluevog agrees: “Although your dog might not be happy with you for not being off-leash, keep your dog on a leash for the week before and the week after Halloween. It’s just not worth it.

“We miss our dog so much,” she added, saying that she adopted the “quite beaten up” dog from the SPCA seven years ago. “She loved to run, she loved the outdoors…. I always felt safer when she was around.

“She was my baby before I had babies.”

maggiedog3

CETA: Canada-EU trade deal signed by Justin Trudeau, EU officials

BRUSSELS – Justin Trudeau  and European leaders have signed Canada’s free trade deal with the European Union in Brussels.

The Comprehensive Economic and Trade Agreement, known as CETA, was reached after seven years of negotiation.

READ MORE: Justin Trudeau’s Belgium-bound plane delayed with mechanical issues

Trudeau had initially expected to sign the deal in Brussels days ago, but the restive Belgian region of Wallonia nearly killed the deal because of its opposition to the pact’s investor-state dispute settlement mechanism.

Everybody say "CETA!" PM Trudeau poses for photo with EU leaders after signing free trade deal in Brussels. pic.twitter.com/jBySHD77H1

— Jeff Semple (@JeffSempleGN) October 30, 2016

The Prime Minister’s Office says Trudeau spoke on Friday with European Council president Donald Tusk, who confirmed the texts of the deal, along with a side agreement known as the Strategic Partnership Agreement, had been approved for signature.

WATCH: What the CETA deal means to Canada and who is going to benefit

The deal’s supporters say it will boost trade by billions through cuts in tariffs across a broad swath of sectors including agriculture, pharmaceuticals and the auto industry.

The prime minister’s trip to Brussels got off to a bit of a bumpy start, with a mechanical problem forcing his flight to return to Ottawa about 30 minutes after it took off Saturday night. After more than an hour on the ground the flight left again and continued on to Belgium without further incident.

Global News

Search for missing mother Florence Leung continues after new security footage surfaces

Family and friends of Florence Leung are appealing to the public after uncovering surveillance footage of the missing mother in a West End convenience store the night of her disappearance.

The footage, recovered from the City Park Express store on the 700 block of Denman Street, shows Leung purchasing Gatorade and a banana with cash on Tuesday, Oct. 25 at around 6:15 p.m.

“It does give us hope,” said Leung’s husband Kim Chen, who held back tears as he talked about seeing the footage for the first time.

Story continues below
Global News

“I wish I was there to hold her,” he said.

Leung, 32, was last seen Tuesday morning at her home in New Westminster at approximately 9:45 a.m. A new mother, she is said to be suffering from postpartum depression and is considered a high-risk missing person.

Her car, a white Audi Q5, was found Wednesday inside Stanley Park. Family members involved with the search say the banana and Gatorade were found in the car, which helps to solidify Leung’s timeline from Tuesday.

The owner of the convenience store, Park Lee, says she didn’t notice anything strange or unusual when Leung was in her store.

“She just grabbed [a] drink and one banana, but that’s it,” said Lee. “Just pay and gone. I didn’t notice something particular.”

Search parties have now expanded their search areas to the West End, and are asking other businesses to review their own security footage for sightings of Leung, and to keep their eyes open. They are also asking West End residents and tourists in the area that day to check apartment security footage and car dashcams.

Anyone who sees Leung is asked to contact police immediately.

“She may look scared, she may look restless, she may not want to ask for help,” said Chen. “So please keep her in your sight, and call 911.”

READ MORE: Understanding postpartum depression

Police along with North Shore Search and Rescue searched Stanley Park until Thursday afternoon when they called off the search, unable to find any trace of Leung. New Westminster police say there is no evidence of foul play.

Chen just wants his wife back home, urging her to consider their son, who was born just two months ago.

“Florence, I love you,” he said. “I always love you. I’m not mad at you. Please come back to my arms. Aiden is smiling so much now. He’s getting bigger and stronger.

“Please come back, and let’s realize our dreams.”

Hundreds of Hells Angels attend Bob Green funeral

CRTC to review net neutrality in Videotron music streaming case

OTTAWA – Canada’s telecom giants go head-to-head this week at hearings that could result in a dramatic change to the way Internet is delivered across the country.

The hearings are being held as new figures show Canadians’ appetite for data is ballooning.

READ MORE: Canadians’ cellphone services among costliest in G7: report

Story continues below
Global News

The Canadian Radio-television and Telecommunications Commission review, being held in Gatineau, Que., stems from a complaint about Quebecor-owned Videotron over the way it bills customers for the data they use.

The company launched an unlimited music streaming service in August 2015, allowing its customers to stream music from specific third-party services without it counting toward their monthly data cap, a practice dubbed as zero rating, also known as differential pricing.

The Public Interest Advocacy Centre complained the new service allowed Videotron to discriminate against other music-streaming services that were still subject to data usage fees.

READ MORE: CRTC changing the rules for local TV news, announces new fund

Major service providers including BCE Inc. and Telus Corp. are in favour of the practice, arguing it results in more choice.

Rogers Inc., on the other hand, calls zero rating discriminatory, saying it limits competition by favouring certain content.

The CRTC had earlier ruled that mobile TV services offered by Bell and Videotron violated the Telecommunications Act by giving preferential treatment to their mobile television services and created an unfair advantage. Those mobile TV services are no longer being offered.

But the regulator said Videotron’s data exempt music streaming services are different because Videotron doesn’t promote its own application.

WATCH: CRTC report show Canadians watching less TV 

Still, it launched the hearings to better define what differential pricing should look like and determine whether regulatory boundaries are needed around the practice.

The CRTC was inundated with comments against differential pricing when it turned to the popular online discussion forum Reddit last month as it reached out in advance of the hearings to gather a wider range of opinions on the issue.

Non-profit digital rights organization OpenMedia says the argument against zero rating boils down to net neutrality: the notion that all wired and wireless Internet traffic should be treated equally.

While seemingly arcane, the concept has real implications for how Canadians use the Internet, said OpenMedia. It planned to argue that the regulator impose an outright ban on data caps, saying Canadians deserve unlimited data at affordable rates.

“For Big Telecom customers, mean-spirited data caps, high prices, and extortionate overage fees all come as part of the package,” said Katy Anderson, OpenMedia’s digital rights specialist.

The CRTC’s annual Communications Monitoring Report for 2016, issued last week, gave weight to the importance of the data cap hearings. It revealed that the average amount of data downloaded by Canadians has skyrocketed, with broadband usage increasing 40 per cent from 2014 to 2015, and Canadians downloading an average of 93 gigabytes monthly. Mobile data usage saw an even bigger spike, up by 44 per cent.

The report also showed average total household spending on telecommunications, including wired Internet, wireless devices and phone services, has reached $215 per month, with the largest increase on mobile services.

“With data usage surging 40 per cent in just a year, it’s clear Canadians need relief from the punitively low data caps and extortionate overage fees that have characterized our market for far too long,” said Anderson.

While it opposes differential pricing for data, Rogers said it would argue at the hearings against opening all data plans to unlimited use.

“(Service providers) wouldn’t be able to offer lower prices associated with lower consumption of data,” said David Watt, Rogers’ senior vice president of regulatory affairs.

Removing data caps would mean “everybody would have a $90 price plan,” said Watt.

Welcome to the new YYC Calgary International Airport

Alberta oil and gas producers accelerate old well cleanups

Farmer Tony Nichols says he has mixed feelings about news that oil and gas companies in Alberta are accelerating voluntary reclamation of old well sites and pipelines.

MAP:  Alberta littered with inactive oil and gas wells

The handful of wells on his east central Alberta farm make navigation challenging for his farm equipment, but they’ve also been valuable contributors to farm income, paying between $2,000 and $3,000 each per year.

“Yeah, they’re a nuisance,” says the 75-year-old. “You have to go around them. But you get something for it.”

Watch below from June 2016: Former House Speaker Andrew Scheer suggested abandoned oil wells across the province of Alberta could be used to put unemployed energy sector workers back on the job.


Story continues below

Related

  • Screen Shot 2015-10-27 at 1.16.08 PM INTERACTIVE: The hidden cost of abandoned oil and gas wells in Alberta

Global News

Energy companies are obligated to eventually restore land and return subsurface Crown leases to the province, though many find it’s a difficult decision to spend money to take an asset off the books.

READ MORE: When the oil stops – 16×9 takes a closer look at old wells in Canada

That’s now changing, industry observers say, in part because legacy wells are depleted and commodity prices are low. But it’s also thanks to new rules imposed last spring by the Alberta Energy Regulator to prevent financially shaky companies from running up reclamation liabilities to unaffordable levels.

The AER rules, in short, say that if a proposed oil and gas transaction results in the estimated value of a company’s assets falling to less than twice its future reclamation liabilities the province may require payment of a deposit to ensure cleanup. If the deposit isn’t made, the province can refuse to transfer the Crown licence to the new owner, essentially scuttling the deal.

Watch below from October 2015: Who pays the clean-up tab when an oil company goes bust? 16×9 takes a look at abandoned wells in Canada.

To determine if a company will be required to pay a deposit, the AER calculates its licensee liability rating or LLR — and the higher the rating, the better the chance of being free to buy and sell oil and gas properties.

READ MORE: Federal budget 2016 – Oil well cleanup proponents left empty-handed

Previously, companies were allowed to have an LLR as low as 1.0 before being restricted. Now companies must have an LLR of at least 2.0.

“Regulations have become a lot more stringent with respect to the LLR … and specifically the amount of unfunded liability the companies are carrying,” said Dave Humphreys, vice-president of operations at Calgary-based intermediate producer Birchcliff Energy (TSX:BIR), which boasts a high LLR of about 12.0.

“Companies are going to have to get with the program or not be able to do deals.”

Humphreys said it can take two to five years to obtain a provincial reclamation certificate after the company decides to abandon a well, depending on the cleanup work required. Birchcliff expects to receive six certificates this year and nine next year after receiving none in 2015 and six in 2014.

According to the AER, the average LLR among 775 licensed companies as of Oct. 1 was 4.36. It says 349 licensees — 45 per cent — had LLRs below 1.0, which will make it difficult for them to buy assets.

READ MORE: ‘It will provide some jobs’ – Alberta energy minister keen on well cleanup plan

The LLR for Canadian Natural Resources (TSX:CNQ), Canada’s largest natural gas producer, is listed as 3.13. The drive to increase that LLR rating is part of the reason it, too, is accelerating its reclamations, said spokeswoman Julie Woo.

“Our 2016 year-to-date number of reclamation certificates submitted to the regulator has increased 37 per cent compared to the total submitted in 2015,” she said in an email, adding that translates into about 490 reclamation applications so far this year, versus 357 in all of 2015.

RBC Dominion Securities oil and gas analyst Shailender Randhawa said in a recent research note he believes producers are budgeting to spend more on reclamations.

READ MORE: One way to get ex-oil workers on the job again – cleaning up old wells

RBC estimates there are more than 93,000 oil and gas wells in Western Canada that have been inactive for six months or more as producers turn off the taps rather than sell at current low prices.

About half of the 60,000 active conventional oil wells produce less than 10 barrels per day, accounting for 11 per cent of oil production, says the RBC report.

Nichols, meanwhile, said one well on his farmland has been producing cheques for 23 years despite never actually producing commercial volumes of oil or gas for its owner, Apache Canada.

“We’re not pushing them. That one there, we farm right over it,” he said. “Right now there’s swathed barley on top of it.”

Apache spokesman Paul Wyke said three of the company’s five wells on the Nichols land have been scheduled for reclamation over the next two years, including the one drilled in 1993 that has failed testing and therefore never been produced.

According to the AER, only 24 per cent of the nearly 450,000 provincially regulated oil and gas wells in Alberta have been certified reclaimed, which means the well has been cleaned and capped, the land has been restored to original condition and the lease given back to the government.

Mega media earnings; Fed chats about rates; Last jobs report before the election

yellen rate hike

1. Earnings season continues: It's a big week for the media industry. Time Warner, 21st Century Fox, Facebook and other media giants will release their third quarter results.

Last week, AT&T (T, Tech30) announced an $85 billion mega-deal to buy Time Warne (TWX)r. If the deal passes the government's regulatory review, it could go down as one of the biggest media tie-ups in history. Time Warner owns CNN, HBO, Warner Bros. and other channels and websites.

There's also a lot at stake for 21st Century Fox (FOX) in the aftermath of Roger Ailes's exit. The former Fox News CEO resigned after anchorwoman Gretchen Carlson sued him for sexual harassment, prompting other women to come forward. The case was settled for $20 million.

2. Federal Reserve meeting: The Fed has been waiting for the perfect moment to raise interest rates. But that moment probably won't come during next week's two-day meeting, especially given the fast-approaching presidential election.

Wall Street predicts the Fed will raise rates in December, one year after it last hiked them, according to CME Group.

Overall, things are looking up for America's economy. It expanded at an annual rate of 2.9% from July through September compared with the same time one year ago. That's the fastest economic growth in two years.

3. Jobs report: Get ready for another jobs update. On Friday, the Labor Department will report on how many jobs were added in October.

In September's report, the U.S. added a steady 156,000 jobs and Americans pocketed 2.6% fatter paychecks compared with this time last year. Unemployment rose slightly to 5% from 4.9% as more people entered the job market.

4. Bank of England's rate decision: Will the U.K.'s central bank raise interest rates? Between Brexit and rising inflation, there's a lot to consider going into Thursday's decision. When Britain voted to leave the EU in August, the Bank of England cut interest rates to prevent a recession.

And it has paid off. Earlier this month, the British economy reported 2.3% growth. Analysts believe the boost came from an increase in tourism. Vacationers can't seem to get enough of the U.K. now that the pound is at historic lows.

5. Coming this week:
Monday - Happy Halloween!
Tuesday - Fed meeting begins, Sony (SNE), BP (BP) and Shell (RDSA) earnings, Autos sales report
Wednesday - Facebook (FB, Tech30), Time Warner (TWX), 21st Century Fox (FOX) and Alibaba (BABA, Tech30) earnings
Thursday - Bank of England's rate decision, News Corp (NWS), CBS (CBS) and Starbucks (SBUX) earnings
Friday - Jobs report, Adidas (ADDDF) earnings, International trade report

CNNMoney (New York) First published October 30, 2016: 9:43 AM ET

Are your investments destroying the planet?

Tomorrow marks the beginning of “Good Money Week”, another of those campaigns designed to raise awareness of some seemingly minor issue that is always affecting someone else, somewhere else. 

But if you’re reading this section, the chances are this one is about you and your __money and the attempt to raise awareness of sustainable, ethical and responsible investment. It hinges around the question of whether you know – really know – how your savings, investments or pension is invested on your behalf. 

If you don’t you’re in good company.  Around half of UK investors aren’t clear about what companies or industries are supported by their investments, and while far more – around two thirds of British investors – want their __money to turn a profit as well as do good socially and environmentally, the truth is that most of us are supporting some of the most damaging industries out there.  And because of the changing ways we are investing our cash, the figures are rising fast.

Passive agrressive

Since 2007, “tracker” or “passive” funds – have grown four times faster than actively managed funds, investing around $6 trillion worldwide. It comes as little surprise seeing as they offer a low-cost investment option by simply investing in all the companies in an index such as the FTSE All Share, rather than engaging in more expensive active decision-making or fund management. They’re particularly popular with younger investors and are the default investment option for many pension schemes. 

But an in-depth study of the market by responsible investment specialists Castlefield Advisory Partners reveals that six of the UK’s biggest tracker funds have £504m invested in the tobacco industry, (4.4 per cent of their combined value) and eight of the biggest funds have £1.2bn invested in fossil fuels (9 per cent of their combined value). 

 “Trackers might appear to be a cheap investment solution, but we are concerned that people may not be fully aware that they are financing damaging social and environmental activities and putting investors’ money at risk,” says John Ditchfield, Partner at Castlefield. 

“Automated robo-investors are pumping hundreds of millions in pension savings and other investments into businesses which individuals would not choose to support and may actively want to avoid, for example tobacco and heavily polluting fossil fuel companies.” 

And it’s clear that the majority of British investors don’t want that. 

Knowledge and power

Around 60 per cent of us think investors should avoid financially backing companies or industries that negatively impact on people, society and the environment, according to Triodos Bank, particularly avoiding areas including child or forced labour, arms and munitions, animal testing and factory farming, tobacco, and inevitably, businesses involved in tax avoidance, accounting or remuneration controversies. 

Instead, the same proportion would like to put their money behind organisations and sectors that have a positive impact, citing healthcare, energy efficiency and renewables, and sustainable business. 

 But with half of UK investors claiming they have never been offered a socially responsible investment (SRI), Triodos has called on banks and other financial providers to be more transparent when it comes to disclosing where and how its customers’ money is being invested. More than half of UK investors feel this should be standard, with 60 per cent urging the major stakeholders in the auto-enrolment workplace pension, including Government, to not only be clear about the ultimate destination of millions of people’s savings, but also offer SRI options as standard within the workplace pension. 

Good money or good returns?

But awareness is only one of the major hurdles facing the SRI sector. The other is the perception of profit. 

The SRI market is worth £15bn in the UK today, with assets under management of around £1.5tn, too many investors fear an SRI investment portfolio would scatter decent returns to the four winds. That’s despite the fact that over the past five years the FTSE All World (ex-fossil fuel) has regularly outperformed the FTSE All World index, and this year the MSCI SRI index has outperformed the MSCI World index. 

Now what? 

Behind all this though, there is a building momentum to embrace SRI choices in our everyday investments, but it may be the pragmatists driving the change rather than enviro-campaigners as wider changes take hold – not least the Paris Climate Agreement, now ratified by more than 70 countries and about to come into force with its effect on coal, oil and gas industries and those who invest in them. 

Indeed, Mark Carney, Governor of the Bank of England, has warned that action to limit climate change could turn huge reserves of oil, coal and gas into unburnable “stranded assets” leaving investors with huge losses. 

All of a sudden, it seems a successful long-term investment could depend on being a responsible one.  But with so many trying to jump on the SRI bandwagon, what actually constitutes an SRI investment according to your personal ethics is a tricky problem to solve. 

So, where could you invest your money for a reassured conscience as well as decent returns among a confusing array of funds claiming to be ethical? Investment research and ratings service Fundcalibre suggests: 

  • Edentree Amity UK – run by Sue Round, one of the country’s longest-serving ethical managers, this fund invests in a large number of smaller companies.
  • Rathbone Ethical Bond – investing in investment grade bonds, this fund has a higher income target than most of its peers and ethical exclusions are simple: no mining, arms, gambling, pornography, animal testing, nuclear power, alcohol or tobacco, which rules out about one third of the index. 
  • Standard Life Investments UK Ethical – with a rigorous ‘no compromises’ ethical screening, manager Leslie Duncan will aim to keep 50-100 holdings for between three to five years with the expectation of growth and to a lesser extent income. 

Looking for credit card or current account deals? Search here

6.5m households put health and welfare at risk by failing to save

Ever increasing debt levels, no savings and an uncertain economic future are leaving millions of families walking a financial highwire without a safety net, new data reveals, with "many households barely clinging on". 

More than 6.5 million households are in debt, or face the prospect of falling into debt within a month, should they lose their jobs, according to new research from The Equality Trust.

More than 40 per cent of working households have too little saved to pay even a month’s worth of household bills, let alone cover one-off bills such as the typical £540 cost of a replacement boiler. 

“Over a third of households owe more in debt that they have saved, and millions more face falling into trouble in the event of a financial shock they cannot avoid," Dr Wanda Wyporska, executive director of The Equality Trust, has warned. "Many households are barely clinging on, with high costs, low incomes, and reduced government support." 

But the problem doesn't extend to all. The richest 10 per cent of households have almost £50,000 set aside in savings, while the poorest 10 per cent have an average of just £100. 

“We only need to look around to see that the scale of economic inequality in this country has reached dangerous levels," Dr Wyporska says. "This is not just a financial issue, we know that inequality means that our trust in others is lower, as well as worse levels of physical and mental health for us all. It even holds back our economy."

In a strongly worded statement, the Trust claimed that the current Government savings policy prevents many families on low incomes from saving for their future. Instead it favours the well-off, by offering them tax-free savings through ISAs, and bonuses through the new lifetime ISA .

Widely considered to be a more flexible form of retirement saving compared with a pension, those saving in a lifetime ISA will receive a 25 per cent bonus on top of their annual savings. Despite the bonus being available for savings up to, but limited to £4,000 a year, the trust warns this will do nothing for the half of non-retired households with little or no savings to top up. Instead, it suggests that "this means the lifetime ISA will provide a £1,000 bonus to wealthy households, and almost nothing to those on low incomes."

“Government savings policy supports the already well-off at the expense of those struggling just to get by. This cannot continue," Dr Wyporska says. "The Government must change direction and offer greater support for its Help to Save scheme, rather than projects such as the lifetime ISA, which only help the richest.” 

The Equality Trust has called on the Government to scrap the lifetime ISA and instead use this funding to boost their Help to Save scheme, which is specifically aimed at supporting low income households receiving the in-work support of Universal Credit (UC). The Trust claims the Government plans to spend just £70m on its Help to Save scheme by 2020, but more than 10 times this (£850m) on the lifetime ISA scheme. 

Looking for credit card or current account deals? Search here

Brexit latest: New mortgage lending figures point to post-referendum house price hit

The number of new mortgage approvals fell in July, suggesting a post-Brexit vote knock to the housing market.

New figures from the Bank of England this morning show that there were 60,912 approvals for house purchase in July, down sharply from the 64,152 in June.

The figures were also lower than the 61,900 City of London economists had expected.

Approvals have been on a declining trend since the beginning of the year, but the July approvals figure was the lowest since January 2015 and was down 12.4 per cent on the same month a year earlier.

Lowest since January 2015

Before the financial crisis of 2007-09 banks were approving more than 100,000 new house purchase mortgages a month.

Analysts said the deepening slowdown could presage declines in house prices.

“July’s marked slowdown in mortgage approvals fuels our belief that house prices could ease back by around three per cent over the latter months of 2016 and there could well be a further 5 per cent drop in 2017” said Howard Archer of IHS Global Insight.

The latest survey from the Royal Institution of Chartered Surveyors earlier this month suggested UK house price growth was the lowest in three years in July

But the other major house price indexes since the 23 June vote have shown a mixed picture. 

The annual rate of growth of Hometrack’s index fell from 8.6 per cent to 8.1 per cent in July.

But Halifax’s remained steady at 8.4 per cent, while Nationwide’s strengthened slightly to 5.2 per cent.

Going down?

An analysis by the Treasury before the referendum suggested house prices could fall by between 10 per cent and 18 per cent in the event of a Brexit vote by 2018.

But given this forecast was relative to a counterfactual of continued strong growth in house prices this was consistent with a flatlining of average prices in nominal terms.


Click here to download your free guide on five shares to watch in 2016, with Independent Partner, Hargreaves Lansdown

Tronc shares crash 28% on Gannett deal fears

Why does Gannett want to buy Tribune Publishing?
Why does Gannett want to buy Tribune Publishing?

The long-rumored marriage of USA Today owner Gannett and LA Times publisher Tronc is suddenly in doubt.

Shares of Tronc (TRNC) plummeted 28% on Thursday following a report that banks have pulled financing for the company's potential takeover by rival Gannett (GCI).

According to Bloomberg News, several lenders backed out of the deal due to concerns over the financial health of Gannett and Tronc, long known as Tribune Publishing before a much-criticized makeover. Gannett shares dropped 17% on the news.

Gannett has come under more financial pressure in recent months. The company revealed a third-quarter loss on Thursday amid another decline in print advertising sales.

Gannett and Tronc, which also owns the Chicago Tribune and Baltimore Sun, had agreed to a price of $18.75 before the funding troubles, Bloomberg reported, citing unidentified sources.

Neither Gannett nor Tronc responded to requests for comment on the report.

Gannett CEO Bob Dickey hinted at the funding troubles during a call with analysts on Thursday. He said Gannett is focused on "building out our local footprint," but that hinges on a number of conditions, including financing terms that "make sense."

Contentious deal talks have been going on between the two media companies for many months. Gannett first bid $12.25 a share for then-Tribune in April, before raising the offer to $15 a share in May.

Tribune shot down both offers and criticized Gannett for what it described as an "effort to mislead and confuse" its shareholders.

CNNMoney (New York) First published October 27, 2016: 4:20 PM ET

Tony Blair: U.K. may need a second vote on Brexit

Tony Blair: We must try to stabilize, come together
Tony Blair: We must try to stabilize, come together

Tony Blair thinks Brits may be having second thoughts about Brexit.

The former Prime Minister said the U.K. should keep its "options open" over its decision to leave the European Union until it becomes clear what kind of deal it can get.

"If it becomes clear that this is either a deal that doesn't make it worth our while leaving, or alternatively a deal that's going to be so serious in its implications, people may decide they don't want to go," Blair told the BBC.

He said there could be a way to reverse the June referendum result if the British people change their mind. That could take place via a vote in parliament, a general election, or even another referendum.

"We just don't know what we're going to be offered as an alternative and once we know we'll be in a position to make a decision," he said.

Blair is not the only one suggesting there are still options to avoid leaving the EU. At least five legal challenges against Brexit are being considered by U.K. courts.

Blair, who campaigned against Brexit ahead of the referendum, said the vote was a "catastrophe."

Writing in The New European newspaper on Friday, he said the result had to be respected but the 48% of voters who wanted to stay in the EU could win the argument as the facts of Brexit come to light.

"We're the insurgents now," Blair wrote in an article published in The New European newspaper. "We have to prise apart the alliance which gave us Brexit."

Tony Blair

There are still no details about how the government plans to approach the exit negotiations and what kind of trade deal it will seek.

Prime Minister Theresa May said formal talks with the EU will begin before March 2017. That could mean the U.K. will leave the EU in early 2019.

Blair won three consecutive general elections, the last in 2005. He was the Labour Party's longest serving prime minister but faced fierce criticism after leaving office for his decision to join the U.S. led invasion of Iraq in March 2003.

CNNMoney (London ) First published October 28, 2016: 6:37 AM ET

Soylent pauses sales of signature powder after users report nausea and vomiting

Is Soylent the food of the future?
Is Soylent the food of the future?

Turns out, actual food might be better for us than Silicon Valley's alternative.

Soylent touts itself as the world's "easiest nutritional food," engineered to contain protein, carbs, lipids and micronutrients. Mixed with water, its powder becomes a thick, chalky substance that many in the tech world have used to "hack their diets" -- otherwise known as a meal replacement.

Soylent has raised more than $20 __million from backers like Andreessen Horowitz and Lerer Hippeau Ventures.

But some of its products -- including its flagship, the Soylent powder -- have been making people sick -- causing nausea, vomiting and diarrhea.

Two weeks ago, Soylent issued a product recall on its newest line, Soylent Bars, after "a small number of our customers have experienced gastrointestinal issues."

Soylent is now saying that, after investigating the cause, it believes the ingredients that are making some people ill could also be in its newest powder formula. (It has different versions of its powder because it says its constantly iterating.)

"We are going to continue to look into this further and share our findings with the FDA so that they can do their own evaluation," the company wrote in a blog post.

In the meantime, it's halting sales of Soylent Powder 1.6 (the version that's currently on the market) and its bars until it reformulates them and removes the problematic ingredients. It anticipates they'll be available again in early 2017.

soylent sick

The powder, which is currently listed as backordered on Soylent's site, is the equivalent of 28 meals (7 bags of powder) for $54 a month. Its main products include soy protein for improved digestion, algal oil for energy and essential fatty acids, isomaltulose from beets for sustained energy, and essential vitamins and minerals.

As for its other two product lines -- Soylent Drink or Coffiest -- Soylent said it has found no complaints that are "at all similar." And the company said that if people feel fine using its Powder 1.6, "we see no reason to stop enjoying it."

Soylent did not immediately respond to request for additional comment.

CNNMoney (New York) First published October 28, 2016: 4:35 PM ET

Bill Murray is done with boring golf clothes

Bill Murray brings his distinct style to golf clothes
Bill Murray brings his distinct style to golf clothes

Bill Murray marches to the beat of his own drum -- in life, in movies and now on the golf course.

"If you've seen photos of Bill on the golf course, he's quirky with his fashion sense. He'll wear plaid on plaid with a plaid bow tie," said his younger brother Joel.

Those fashion eccentricities aren't limited to the well-known actor.

"All of the Murray brothers are quirky with clothes," said Joel.

And they're are equally serious about golf. So it made perfect sense for six brothers to create a golf clothing line for men called William Murray Golf.

It launched this month with Bill as the face of the brand, which means it's loaded with playful irreverence.

Bill murray golf collection
Bill Murray wearing the Cinderella Story polo shirt.

Think bright colors, playful prints and clever references to Murray's movies.

The logo itself is a faceless Bill throwing away his golf club. There are bright tartan shorts, tartan button-down shirts and, Joel's favorite, a polo shirt with tiny whiskey glasses printed all over it.

"Every couple of glasses, there's a glass tipped over with whiskey pouring out of it," he said.

Another shirt, the Cinderella Story polo, features brightly-colored mums with a few random ones falling apart. It's an homage to the movie "Caddyshack," a classic Bill Murray film, which features a scene where Bill lops a row of mums with his club.

Murray brothers
Ed Murray, Andy Murray, Brian Murray, John Murray and Joel Murray wearing the William Murray Golf Collection.

"Things have gotten pretty stale in golf clothing," Joel said. "We need to inject a little fun into it. This could help get more millennials into the sport."

His own son, who's 25, prefers to play an abbreviated 6-hole round on the course.

The Murrays partnered with theChive, a photo-driven website with a huge male fanbase, to develop William Murray Golf. The collaboration started two years ago after the Murray Brothers discovered theChive had created a fun Bill Murray T-shirt that was a top seller.

"At first we were flattered. But Bill wasn't getting anything from it," said Joel. The resulting partnership has theChive's team handling design, production, distribution and sales, all of which require input and clearance from the Murray brothers. The clothes (priced between $32 to $90) are sold online at WilliamMurrayGolf.com and theChive.com.

"We're very hands on," said Joel, who's in charge of the brand's day-to-day business decisions. "All of us look at the designs. Bill speaks up if he thinks something isn't crazy enough."

William Murray whiskey glass shirt
The tipped-over whiskey glass golf shirt.

Joel pegs the Murray humor, love of golf and distinct fashion style to the family's upbringing in the North Shore of Chicago.

"We were nine siblings. We didn't have a lot of extra clothes. It's probably why we make interesting fashion choices now," said Joel

Bill, for instance, rarely wears polo shirts on the golf course.

"He hated getting hand-me-down polos from his older brothers. So he mostly wears button-down shirts on the course," said Joel.

Golf was like a religion in the family.

"We were all altar boys. One by one, we were recruited coming out of church to train as caddies," said Joel. "It was hard work, subservient work, two things that we realized much later on that we weren't interested in."

Yet, all six brothers were inducted into the Caddy Hall of Fame in 2015. "It was a great honor for all of us," said Joel, adding that the brothers still get together every year for their Murray Bros. Caddyshack Charity Golf Tournament.

CNNMoney (New York) First published October 28, 2016: 2:22 PM ET

Stocks sink after new email review tied to Clinton

Most market metrics point to Clinton victory
Most market metrics point to Clinton victory

The latest twist in the Donald Trump vs. Hillary Clinton election saga sent stocks into the red Friday.

A market rally fizzled after news hit that the FBI is looking into new emails as part of its investigation into Clinton's personal email server. The review comes just 11 days before the election.

At one point the Dow was down 125 points from its highs of the day. But the market rebounded as more information came to light, including that the new emails come from the Anthony Weiner probe. The Dow ended the day down just 8 points and the S&P 500 closed 0.3% lower.

Investors had been pricing in a solid Clinton victory. Now there's some doubt.

"Hillary Clinton's news has taken the wind out of the market rally," wrote Naeem Aslam, chief market analyst at Think Forex in a note to clients. "This certainly increases the chances and odds for Trump winning."

It's not just stocks reacting: Gold rose slightly, and the U.S. dollar and Mexican peso fell. The Mexican peso is down about 0.6% (it had been off as much as -1.2% at one point), a sign that investors think Trump's chances of winning have increased a bit. Investors tend to buy gold when they are nervous.

The peso had been climbing in recent weeks as Trump's poll numbers tanked. Trump has vowed to crack down on companies moving jobs and plants to Mexico, and he's said Mexico should pay for a massive wall between the two nations.

dow chart 102816

Trump immediately seized on the news.

"Hillary Clinton's corruption is on a scale we have never seen before. We must never let her take her criminal scheme into the Oval Office," Trump said in New Hampshire.

The Clinton campaign issued a statement shortly before the close of trading.

"The [FBI] Director owes it to the American people to immediately provide the full details of what he is now examining. We are confident this will not produce any conclusions different from the one the FBI reached in July," said John Podesta, Clinton's campaign chairman.

CNNMoney (New York) First published October 28, 2016: 2:38 PM ET

McLaren's road trip supercar

Inside McLaren
Inside McLaren's high-tech auto lab

The McLaren 570S is an outrageously fun all-out supercar, complete with beetle-wing doors and 562 horsepower turbocharged engine.

But what if you want carry some luggage? Tying it to roof just would not do. It would look dumb and the aerodynamics would be awful.

That's why McLaren came out with the 570GT. It has a small luggage compartment behind the seats and a some more between the front wheels. Since you'll be driving farther on your road trip, McLaren engineers re-tuned the suspension a touch for a comfier ride, too.

McLaren cars offer a mix of immediate responsiveness and feel, like fast, expensive go-karts. But they have enough refinement so that you're not punished for your fun. But I always thought a little more practicality and comfort might be good. So it seemed like the McLaren 570GT was the car I'd been waiting for, if I coiuld overlook its $200,000 price tag.

mclaren 570gt
The 570GT doesn't lose much of McLaren's usual intensity, even though it's designed for a more comfortable drive.

The 570GT's "more comfortable" seats are still pretty slim if you're used to a family car. There's not much padding and the driver sits at roughly sidewalk level. The dashboard is, likewise, minimal. A lot of things are handled using an iPad-like touch screen. Our test car's gigantic sunroof kept that screen bathed in glare about half the time. I'm told that cars built later have a shade that can solve that irritating problem.

mclaren 570gt
The back end of the McLaren 570GT slopes gradually, creating space for cargo over the engine.

The steering wheel provides ample feel of the road, and the car responds immediately, and precisely, to each movement. With a relatively small 3.8-liter V8 engine tucked in right behind the seats, the 570GT makes you feel like a part of the machine. You twitch, it twitches. You swing your arms. The car swings. And visibility is amazing over that sharply sloped nose.

The one part of the McLaren that let me down in this intimate relationship was the brakes. Yes, the car did stop, and quickly enough, but there was more work involved than I was expecting.

mclaren 570gt
The McLaren 570GT's interior is the very model of a focused workspace.

Three driving modes each for the car's power and suspension -- Normal, Sport and Track -- tweak things like the firmness of the suspension and the touchiness of the gas pedal. In the 570GT, McLaren set the Normal mode to be a bit extra-cushy. On the highway, though, and on open roads, I never left the 570GT in Normal mode for long. When going fast, which is what you're supposed to do in this car, Normal mode just didn't feel right. Properly set, the McLaren 570GT was thrilling.

porsche 911 carrera 4s cabriolet front 3/4s
The Porsche 911 Carrera 4S is about the most practical sports car you can ask for.

But while the 570GT is comfortable for a McLaren, I had the opportunity to do drive the ultimate comfy sports car right after driving the 570GT. To be exact, it was a Porsche 911 Carrera 4S Cabriolet, which goes for a mere $155,00. It also has storage space behind its seats and in its nose. And its tiny backseats can carry suitcases instead of children. Compared to the McLaren, it was almost a crossover SUV.

porsche 911 carrera 4s cabriolet interior
Compared to the McLaren, the 911's dashboard seems positively old school.

Was it as visceral and exciting as the McLaren? Not quite. It had much less power -- 420 horsepower from a turbocharged 6-cylinder engine -- and almost 300 pounds more weight. It also has all-wheel-drive which, while great for traction, tends to numb driving feel a bit.

Like the McLaren, the 911 had adjustable drive settings, but they worked better. I could drive it comfortably at any speed in any setting from Normal through Sport Plus without feeling out of sorts. The notable turbo "Whoosh" from the 911's new engine will be a controversial addition for Porsche fans, but I enjoyed it. It's the sound of the future rushing toward you.

I still love a McLaren. But for the really long haul, I'm afraid the venerable, and comfortable, Porsche remains the car to beat.

CNNMoney (New York) First published October 28, 2016: 9:17 AM ET