Your money: Food prices, ING accounts and more - MoneySense

Your money: Food prices, ING accounts and more

A new era of food inflation, ING Direct looks for a suitor and rookie homebuying mistakes.

  • Get ready for a new era of food inflation, warned the chief executive of Canada’s Maple Leaf Foods recently. Severe drought in the U.S. has scorched corn, soy and wheat crops. That will in turn raise the cost of other products in the food chain, including meat, Michael McCain said.
  • Dutch bank and insurer ING is considering the sale of its online banking businesses in the UK and Canada. It’s still unclear who, if anyone, has come forward as a buyer for ING Direct or what it will mean for its 1.8 million Canadian account holders. “There would be several Canadian banks interested,” especially Bank of Nova Scotia and National Bank of Canada, Bloomberg quoted a Credit Suisse analyst as saying.
  • TD recently polled homeowners to find out what they would change about their first home-buying experience. If they could do it again, 60% would make a larger downpayment,  60% would be more thorough when budgeting and 55% would have bought sooner. Here’s an infographic on things rookie house-hunters should consider: