Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.
Why are Interest rates not falling.
Goldman Sachs’ top AI picks
Does Printing Money Cause Inflation?
HSBC, the Untouchable Titan of Global Finance
US Economist’s Shock Warning: “Biggest Crash in Ou
Toni Gravelle Speech
Alberta Premier on the Supreme Court\'s ruling, an
What Bank of America Just Said is Shocking
Horrific Canadian Banking Corruption Right Before
The Banking System is in Free-Fall
The Financialization of Real Estate
The FDIC Threatens Downgrades That Will Cut Off Ac
Bitcoin regulations are coming
Are we in a bubble and, if so, when will it pop?
Canadian real estate and government, March 29
FIRE report January 12th
BOC and reconciliation with Indigenous people
Nov 26 FIRE report
FSIM FIRE report Nov 23
Nov 18th FIRE report
Poloz debunked, Nov 12 FIRE report
Central bank digital currencies: foundational prin
Nov 5th FIRE report
FIRE report November 2nd
Canadian real estate February 24
Real estate: Feb 9, bulls vs bears
Feb 1, The Dumb Money Real Estate Vid
January real estate report 2021
December 4th real estate report
Real estate, mortgage debt to income ratio improve
Real estate: fiscal conservatism/ponzi neoliberali
Caution for real estate investors, Oct 14th report
Canadian bank industry overview - part 1
Why insurance should partner with flood-claim.com
Canadian large bank comparison
Current state of fintech in Canada
XE.com explains their Big Data and AI strategy.
Greenpeace urges TD bank boycott
Insurance flood US vs Can comparison.
Canadian bank industry overview part 5
Canadian banking industry overview part 4
Part 3 Canadian bank industry overview
Canadian banking overview - part 2
Death to bitcoin, long live bitcoin
RBC to integrate Wave Technologies
Deposits have skyrocketed since the start of the p
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Research
Part 2: The Merchant Loyalty Industrial Complex Collapse
fsim.ca/docs/Credit_cards_Part_2v4.pdf
Mark Sibthorpe
Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.
This report digs under the surface and uncovers why loyalty is going the way of the dodo.
Merchants should not waste time fighting card networks
fsim.ca/docs/Card_fees_ongoing.pdf
Mark Sibthorpe
This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.
The full story of SVB March 12th, 2023
fsim.ca/docs/SVB_special_report2.pdf
Mark Sibthorpe
Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.
March 2023 bank earnings summary
fsim.ca/docs/bankearningsfriday.pdf
Mark Sibthorpe
This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.
Real estate report: October 30th, 2020
fsim.ca/docs/Oct30rereportv1.pdf
Mark Sibthorpe
The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.
VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic
fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf
Press Release
2014 FSIM when Bernanke visited Montreal
fsim.ca/docs/MockBernanke.pdf
Mark Sibthorpe
Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.
Eisman's big Canadian bank short
fsim.ca/docs/eisman2.pdf
Mark Sibthorpe
I have been reporting on Steve Eisman's short position for quite some time. As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.
VersaBank Beta-Testing Its New, High Volume Mortgage Finance App
fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf
Press Release
VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.
How and why you need to defend your brand against disruptors
Mark Sibthorpe
Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.
Kick the can(nomics)
fsim.ca/docs/Kick.pdf
Mark Sibthorpe
Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.
ScoreCard Bill Morneau, Canada's Minister of Finance
fsim.ca/docs/ScoreCardMorneau.pdf
Mark Sibthorpe
This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:
Observations and overview of 2018 NB flood support from government and insurance companies.
fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf
Mark Sibthorpe
Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:
"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.
"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.
With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.
Update Argentina: a sign of the times
fsim.ca/docs/Update Argentina_ a sign of the times.pdf
Mark Sibthorpe
Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.
Summary of Canada's flood news, 2017 to present
fsim.ca/docs/Summary-of-flood-news-2017-present.pdf
Mark Sibthorpe
This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.
Banking on Pot
fsim.ca/docs/c10191_banking-on-pot.pdf
SBS
As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).
Canadian banking industry overview
Mark Sibthorpe
The industry overview is divided into 5 parts:
Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks
2014 Mobile payments the Apple pay way
fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf
Mark Sibthorpe
With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives.
Death to bitcoin, long live the blockchain (See full report)
Mark Sibthorpe
Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.
TD bank industry conduct
fsim.ca/docs/tdind2.pdf
Mark Sibthorpe
TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.
Book review: Back from the Brink
fsim.ca/docs/backbrink.pdf
Mark Sibthorpe
This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.
Footnote 151
fsim.ca/docs/footnote151.pdf
Mark Sibthorpe
Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks.
Save the Canadian economy now
fsim.ca/docs/helecopter-money.pdf
Mark Sibthorpe
Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.
Reasons financial service companies should consider gamification
fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf
Mark Sibthorpe
Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.
National Bank Special Report
fsim.ca/docs/NatBSpec.pdf
Mark Sibthorpe
According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”
Will Canadian banks charge companies for deposits?
fsim.ca/docs/depgrowthimpact2.pdf
Mark Sibthorpe
In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.
Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess
fsim.ca/docs/ctfsfinal.pdf
Mark Sibthorpe
Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.
Finance minisiter scorecard August 26, 2015
fsim.ca/docs/Scorejo-August-2015.pdf
Mark Sibthorpe
This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.
Xtreme Branch
fsim.ca/docs/xbranch.pdf
Mark Sibthorpe
Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.
Canadian Nudge
fsim.ca/docs/nudge.pdf
Mark Sibthorpe
CWB cause for concern
fsim.ca/docs/cwbupdate.pdf
Mark Sibthorpe
BNTV Overview
fsim.ca/docs/overviewpdf.pdf
BNTV
BankNews.TV Publishing Corp services overview document:
- Analytics
- Financial services industry monitor (FSIM) industry briefings and developments reports
- Research
Challenger banks not a threat to big banks
fsim.ca/docs/challenger.pdf
Mark Sibthorpe
This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.
Gamification of financial data project
fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf
Mark Sibthorpe
This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.
The impact a rate rise will have for Canadian banks
fsim.ca/docs/irr-f.pdf
Mark Sibthorpe
Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.
FIFA: the new goldenballs
fsim.ca/docs/goldenballs.pdf
Mark Sibthorpe
Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.
Scorecard Minister of Finance: JIm Flaherty
fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf
Mark Sibthorpe
March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.
Merchants extend financial services
fsim.ca/docs/merchantfs.pdf
Mark Sibthorpe
Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.
Hot Money: real-estate
fsim.ca/docs/hotmoney.pdf
Mark Sibthorpe
Currency Cheat Sheet: a guide for the rest of us
fsim.ca/docs/currencycheatsheet.pdf
Mark Sibthorpe
Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.
fsim.ca/docs/gq4risk.pdf
Mark Sibthorpe
Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.
Canadian Western Bank Competitive Forecast
fsim.ca/docs/cwbf.pdf
Mark Sibthorpe
Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.
Liquid Canada: the tipping point
fsim.ca/docs/Liquid.pdf
Mark Sibthorpe
This report examines liquidity issues in the Canadian financial service industry.
Bank Fees
fsim.ca/docs/Bank fees.pdf
Mark Sibthorpe
Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.
Cheap Oil Report
fsim.ca/docs/co2.pdf
Canada's Economy, a strategic solution
fsim.ca/docs/ces.pdf
Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants
fsim.ca/docs/booksample.pdf
Guide to system selection
fsim.ca/docs/gssnow.pdf
Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.
News feed
ONTARIO’S PROPOSED BUDGET CHANGES ON AUTO INSURANCE COVERAGE COULD INCREASE PREMIUMS
G&M - Chris Hannay, Clare O'Hara (2024-03-28)
The Ontario government proposed in Tuesdayâs budget to make a number of changes it said would modernize the auto-insurance system by increasing consumer choice, improving access to services and providing for a reduction in premiums. For
RBC’S HEAD OF CANADIAN RESEARCH LEAVES FOR TD
G&M - Jameson Berkow (2024-03-28)
Andre-Philippe Hardy has returned to the bank where his career began. After
POPULATION GAINS IN CANADA HIT NEW RECORD, BUT THIS MAY BE THE PEAK OF THE BOOM
FP - Randy Thanthong-Knight (2024-03-28)
The population grew by 1.3
CHINA PROPERTY CRISIS IS RIPPLING THROUGH ITS BIGGEST BANKS
Bloomberg (2024-03-28)
Chinaâs protracted property downturn is eroding the balance sheets of the nationâs largest state banks as their bad loans creep up. Bank
GREEK BANKS SET FOR FIRST PAYOUTS SINCE 2008 ON ECB APPROVAL
Bloomberg (2024-03-28)
The European Central Bank will allow Greek banks to make their first shareholder payouts in over a decade as the country emerges from a painful post-crisis restructuring. The
WHY AREN’T UK INTEREST RATES FALLING AS INFLATION TUMBLES?
Bloomberg - Tom Rees (2024-03-28)
With UK inflation now within reach of the Bank of Englandâs 2% target, homeowners struggling under the highest mortgage costs in four decades may be wondering why the bank hasnât begun to lower its key interest rate.
OPEN BANKING MAY SOON BE AVAILABLE IN CANADA
CBC (2024-03-28)
Personal finance columnist Rubina Ahmed-Haq says open banking - despite its name - will make it safer to share our sensitive financial information with other authorized users.
CANADA IS STILL BACKING THE FOSSIL FUEL INDUSTRY WITH BILLIONS, REPORT FINDS
CBC - Benjamin Shingler (2024-03-28)
The analysis found that Export Development Canada provided public financing to many companies, often at subsidized rates.
UBS MAKES ERMOTTI EUROPE'S BEST-PAID BANK BOSS WITH $16 MLN PACKAGE
Reuters - Noele Illien (2024-03-28)
"Sergio has committed to stay at least until the completion of the integration process, if not longer," the annual report said. UBS
BUSINESS LEADERS SAY HOUSING BIGGEST RISK TO ECONOMY: KPMG SURVEY
Investment Executive - Ian Bickis (2024-03-28)
Housing issues are forcing businesses to boost pay to better attract talent and budget for higher labour costs, agreed 87% of respondents.
JAPAN STEPS CLOSER TO INTERVENTION AS YEN HITS LOWEST SINCE 1990
Bloomberg - Masaki Kondo, Erica Yokoyama, and Yumi Teso (2024-03-27)
Japan stepped closer to currency intervention with its strongest warning yet after the yen slid to the weakest level in about 34 years against the dollar. The
USING YOUR PREMIUM CREDIT CARD MAY COST MORE AFTER VISA-MASTERCARD DEAL
Bloomberg - Katherine Doherty and Jennifer Surane (2024-03-27)
Picture this: A customer walks into a grocery store just looking to buy a carton of milk and a dozen eggs.
ALBERTA PENSION FUND SEEKS TO GROW ASIA ASSET EXPOSURE TO 15%
Bloomberg - Lulu Yilun Chen (2024-03-27)
Alberta Investment Management Corp.,
ONTARIO DELAYS BALANCING BUDGET BY ANOTHER YEAR AS DEFICIT GROWS
Bloomberg - Stephanie Hughes (2024-03-27)
Ontarioâs budget shortfall is projected to more than triple in the coming fiscal year, as the government of the most populous Canadian province delays its goal of balancing its budget by another year. The
BANKS' MASSIVE DEBT SPLURGE BRINGS ITS OWN SET OF DANGERS
Bloomberg - Leonard Kehnscherper and Abhinav Ramnarayan (2024-03-27)
As European and British banks race to repay giant Covid-era loans, theyâre having to lean ever more heavily on selling new debt to cover the cost.
OSFI HAS A NEW MORTGAGE TEST: WHAT IT MEANS FOR BANKS AND BORROWERS
FP - Barbara Schecter (2024-03-27)
The change is one of a series of expected adjustments to mortgage guidelines that have been under discussion since last year.
HIGHER INTEREST RATES HAMPER ONTARIO PACE OF HOME BUILDING, FINANCE MINISTER SAYS
FP (2024-03-27)
In last yearâs budget, projections for housing starts had Ontario building fewer than 80,000 new homes in 2024, but that number is now expected to be nearly 88,000. Those
SMITH FINANCIAL TO MERGE LENDERS FAIRSTONE BANK OF CANADA AND HOME TRUST
G&M (2024-03-27)
Billionaire financier Stephen Smith is merging recently acquired Home Trust Co.
BANK OF CANADA WARNS OF LOW PRODUCTIVITY ‘EMERGENCY,’ MAKING IT HARDER TO CONTROL INFLATION
G&M - Mark Rendell (2024-03-27)
The Bank of Canada issued a stark warning about the countryâs weak labour productivity and low levels of business investment on Tuesday, saying the situation is an emergency that makes it harder to control inflation and which could erode living standards if left unaddressed. In
UBS SELLS $8 BILLION OF CREDIT SUISSE ASSETS TO APOLLO
Yahoo Finance (2024-03-27)
Under that plan, about $20 billion of remaining assets were to stay on the books of Credit Suisse but be managed by Apollo.
ROBINHOOD UNVEILS CREDIT CARD IN FURTHER PUSH BEYOND TRADING
Yahoo Finance - Lyla Du and Paige Smith (2024-03-27)
The Robinhood Gold Card, which will be offered exclusively to members of the firmâs subscription-based Gold program, will have no annual cost or foreign-transaction fees, according to a statement Tuesday.
VISA, MASTERCARD REACH $30 BILLION SETTLEMENT OVER CREDIT CARD FEES
Reuters - Jonathan Stempel (2024-03-27)
The antitrust settlement announced on Tuesday is one of the largest in U.S.
SWIFT HAILS RESULTS OF CBDC CONNECTOR TESTING
Finextra (2024-03-27)
Swift's technology was used to connect and orchestrate transactions across simulated digital trade and tokenised asset and FX networks, alongside CBDCs for payments.
DONALD TRUMP’S NET WORTH MORE THAN DOUBLES IN A DAY
Forbes (2024-03-27)
Donald Trump got more than $4 billion richer today after shares of Trump Media & Technology Group, which operates the Truth Social platform, began trading on the Nasdaq.
MEMO TO TIFF MACKLEM — DON’T MAKE ANOTHER MISTAKE IN THE OTHER DIRECTION
FP - David Rosenberg (2024-03-26)
Itâs time for the Bank of Canada to stop being scared of its own shadow.
BANKS SHYING AWAY FROM FOSSIL FUELS BOLSTER PRIVATE CREDIT DEALS
Bloomberg - Natasha White (2024-03-26)
Private credit managers are doing significantly more fossil-fuel deals now than just a few years ago, as they step into a void left by banks exiting assets they worry pose too big a climate risk. The
THE GREAT RATES DESCENT WILL BE NASTY, BRUTISH AND LONG
Bloomberg - John Authers Richard Abbey Elaine He Patrick McDowell Carolyn Silverman Taylor Tyson (2024-03-26)
Now comes the hard part.
MANULIFE ANNOUNCES DEAL TO REINSURE $5.8-BILLION BLOCK OF ITS BUSINESS, FREEING UP CAPITAL FOR A SHARE BUYBACK
G&M (2024-03-26)
Manulife Financial Corp.
ONTARIO COLLEGE OF PHARMACISTS SEEKS RESTRICTIONS ON EXCLUSIVE DEALS WITH INSURERS
G&M - Chris Hannay/nSusan Krashinsky Robertson/nClare OâHara (2024-03-26)
The Ontario College of Pharmacists is stepping up the professionâs criticism of exclusivity deals between pharmacies and insurers, and also pushing for new regulatory restrictions on the practice. At
UK’S CO-OP BANK TO SLASH 400 JOBS IN LATEST COST-CUTTING DRIVE
Bloomberg - Jennifer Surane (2024-03-26)
Co-Operative Bank is planning to eliminate about 400 roles amid the British lenderâs ongoing efforts to rely more on technology and cut costs. The
OSFI HAS A NEW MORTGAGE TEST: WHAT IT MEANS FOR BANKS AND BORROWERS
FP - Barbara Shecter (2024-03-26)
Canadaâs banking regulator is taking fresh steps to ensure lenders donât take on too many highly indebted borrowers, particularly once mortgage rates start to come down and it gets easier to qualify for larger loans.
CANADIAN BANK REGULATOR TO LIMIT MORTGAGE LEVERAGE AHEAD OF RATE CUTS
Better Dwelling (2024-03-26)
Generally speaking, a borrower is considered âover-leveragedâ when their loan exceeds 450% of income.
WHAT WE’VE LEARNED FROM THE EMERGE ETFS SAGA
Investment Executive - Melissa Shin (2024-03-26)
The public was first alerted to a problem on April 6, 2023, when the Ontario Securities Commission (OSC) placed an entire family of ETFs under a cease-trade order (CTO) for the first time.
TIME TO BREAK THE GLASS: FIXING CANADA’S PRODUCTIVITY PROBLEM
BOC - Carolyn Rogers (2024-03-26)
The good news is that monetary policy is working, and inflation has come a long way down.
HOUSING MARKET WILL SEE 'STAGGERED' RETURN OF BUYERS AND INVENTORY
FP - Noella Ovid (2024-03-25)
Mortgage rates will need to come down substantially before they get the âgreen signal,â Hogue said in a recent interview with the Financial Postâs Larysa Harapyn. âWeâre
BUSINESS INSOLVENCY FILINGS HIGHEST IN YEARS
FP (2024-03-25)
Dina Kovacevic, editor-in-chief of Insolvency Insider Canada, talks with Financial Postâs Larysa Harapyn about the rising trend of insolvency filings and bankruptcies/n in Canada.
ONCE HIGH-FLYING BANKERS IN HONG KONG BECOME A LOST GENERATION
Bloomberg (2024-03-25)
When Eric Li lost his job after his family-office employer relocated away from Hong Kong, he knew heâd be facing a tough job market.
CANADA’S BANKING REGULATOR OSFI TO CAP MORTGAGES TO HIGHLY INDEBTED BORROWERS
G&M - James Bradshaw/nRachelle Younglai, Stefanie Marotta (2024-03-25)
Canadaâs banking regulator is limiting the number of highly leveraged loans in the banksâ residential mortgage portfolios, which have ballooned alongside rising prices to make Canadian borrowers among the most highly indebted in the world. The
NIGERIA ANNOUNCES CHARGES AGAINST BINANCE AFTER EXECUTIVE FLEES
Bloomberg (2024-03-25)
Nigeria has filed charges of tax evasion against and two executives of the cryptocurrency platform it has detained, amid a report that one of the men has fled the country. The
MEET CANADA’S MOST STRATEGIC CEO - IF HIS PAYCHEQUE IS ANY INDICATION
G&M (2024-03-25)
Why is he so strategic? Because RBCâs board tells me so. Theyâre
GOLDMAN SAYS COMMODITIES TO GAIN AS CENTRAL BANKS CUT RATES
Bloomberg (2024-03-25)
Commodities/n will advance this year as central banks in the US and Europe move to reduce interest rates, helping to support industrial and consumer demand, according to Goldman Sachs Group Inc. Raw
AMERICAN EXPRESS' (NYSE:AXP) DIVIDEND WILL BE INCREASED TO $0.70
Yahoo Finance (2024-03-25)
Looking forward, earnings per share is forecast to rise by 50.4%
FAIRFAX COMPLETES US$1 BILLION SENIOR NOTES OFFERING
Yahoo Finance (2024-03-25)
Fairfax Financial Holdings Limited (âFairfaxâ) (TSX: FFH and FFH.U)
FINTRAC STILL COPING WITH CYBERBREACH
Investment Executive - James Langton (2024-03-25)
Today, it announced that âfollowing extensive forensic work,â which was carried out alongside the Canadian Centre for Cyber Security, and various other federal departments and agencies, âthere is no evidence that any information has been removed from FinTRACâs systems or that any information was lost.â
US INVESTMENT FUNDS PULL $13.3BN FROM BLACKROCK IN ANTI-ESG CAMPAIGN
FT (2024-03-25)
Please use the sharing tools found via the share button at the top or side of articles.
THE BANK ARGUMENT ON THE BASEL III ENDGAME IS BUNK
FT - William Cohan (2024-03-25)
Please use the sharing tools found via the share button at the top or side of articles.
THE LESSONS FROM EUROPE’S BANKING DRAMA
FT - Katie Martin (2024-03-25)
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HOUSING TO BE FOCUS OF FEDERAL BUDGET AS LIBERALS AIM TO QUELL ANGER OVER COST OF LIVING
FP - Brian Platt (2024-03-22)
Housing to be focus of federal budget as Liberals aim to quell anger over cost of living"], "Article_Body": ["Housing/n will be the focus of Canadaâs upcoming budget/n, with Finance Minister Chrystia Freeland emphasizing measures to speed up construction and boost the supply of affordable homes â possibly using government land
ECB’S NAGEL SAYS RATE CUTS WON’T BE AUTOMATIC ONCE THEY BEGIN
Bloomberg - Mark Schroers (2024-03-22)
The prospects for monetary easing by the European Central Bank/n are improving, though that doesnât necessarily mean thereâll be a sequence of interest-rate reductions once the process begins, Governing Council member Joachim Nagel said.
BMO PARTNERS WITH U.S. PRIVATE EQUITY GIANT CARLYLE GROUP ON INVESTMENT FUND
G&M (2024-03-22)
Bank of Montreal /n is joining forces with Carlyle Group Inc.
RBC TO CONVERT HSBC LOCATIONS AS SOON AS TAKEOVER CLOSES NEXT WEEK
G&M (2024-03-22)
Royal Bank of Canada is planning to turn its soon-to-be-acquired HSBC Bank Canada properties into RBC locations immediately after taking ownership. RBC
TURKEY’S CENTRAL BANK UNEXPECTEDLY RAISES KEY INTEREST RATE BY 500 BASIS POINTS TO 50%
G&M (2024-03-22)
Turkeyâs central bank unexpectedly hiked interest rates by 500 basis points to 50 per cent on Thursday, citing a deteriorating inflation outlook and pledging to tighten even further if it expects the price situation to worsen significantly. The
FINTRAC REVIEWING ALLEGATIONS OF TWO MEN SHARING ANOTHER EMPLOYEE’S PERSONAL INFORMATION
G&M (2024-03-22)
Canadaâs anti-money-laundering watchdog has put two officials, including a senior intelligence officer, on indefinite leave during a continuing human-resources review of the men. Barry
BATTLE FOR CANADIAN BANK DEPOSITS SEEN HEATING UP AS RATE CUTS LOOM
Yahoo Finance - Nivedita Balu (2024-03-22)
The big Canadian banks benefited from the C$350 billion pandemic-era savings, most of which found its way into the popular Guaranteed Investment Certificates (GICs), that earn around 5% interest.
FILLING NUCLEAR POWER’S $5 TRILLION HOLE IS BEYOND THE BANKS
Yahoo Finance - Jonathan Tirone (2024-03-22)
âIf the bankers are uniformly pessimistic, itâs a self-fulfilling prophecy,â former US Energy Secretary Ernest Moniz said Thursday after listening to a panel of international lenders explain why theyâre unwilling to provide the $5 trillion the industry needs by mid-century.
BOFA SAYS US STOCKS SUFFER BIG OUTFLOWS IN RUNUP TO FED MEETING
Yahoo Finance (2024-03-22)
US equity funds suffered redemptions of about $22 billion in the week through Wednesday â the biggest since December 2022, according to a note from Bank of America Corp.,
SANTANDER EXPECTS OVER 6 BLN EUROS IN DIVIDENDS, BUYBACKS ON SOLID 2024 START
Reuters - Jesus Aguado (2024-03-22)
Santander has a 50% pay-out policy or proportion of earnings distributed to shareholders, which it splits in equal parts in cash dividends and ordinary share buybacks. By
GERMAN HOME PRICES TUMBLE RECORD 8% IN 2023 AMID PROPERTY ROUT
Reuters (2024-03-22)
For years, the property sector in Germany and elsewhere in Europe boomed as interest rates were low and demand strong.
CANADIAN CREDIT CARD DEBT CLIMBED 3X THE RATE OF MORTGAGES
Better Dwelling (2024-03-22)
One surprising shift is borrowing of non-mortgage credit, which is suddenly in vogue.
BMO TO BEGIN RACIAL EQUITY AUDIT THIS YEAR
Investment Executive (2024-03-22)
In 2020, BMO, Bank of Nova Scotia, CIBC and National Bank of Canada signed the BlackNorth pledge, which requires signatories to commit to Black people holding at least 3.5%
BANK OF CANADA IS GOING TO HAVE TO CUT RATES SOONER AND HARDER THAN THE FED
FP - David Rosenberg (2024-03-21)
There were several items that came out of the fourth-quarter national balance sheet data in Canada that leave us with a view that any positive âwealth effectâ on spending is subsiding, that households are hunkering down and sharply reducing their appetite for debt, and that the Bank of Canada/n is
ENOUGH EVIDENCE FOR BANK OF CANADA TO CUT INTEREST RATES IN APRIL — BUT IT PROBABLY WON'T, SAYS DESJARDINS
FP (2024-03-21)
Enough evidence for Bank of Canada to cut interest rates in April â but it probably won't, says Jimmy Jean, chief economist at Desjardins Larysa Harapyn discussion about what the latest inflation reading/n coming in cooler than expected means for the Bank of Canada/n and Canadian borrowers
BROOKFIELD ASSET MANAGEMENT ELEVATES EX-GOLDMAN BANKER PEER MARSHALL TO CFO
FP (2024-03-21)
Brookfield Asset Management Ltd.
BANK OF CANADA SEES CONDITIONS FOR RATE CUTS THIS YEAR, ACCORDING TO DELIBERATION SUMMARY
G&M (2024-03-21)
Bank of Canada officials believe it will be appropriate to cut interest rates this year if the economy develops as expected, although there is disagreement among members of the governing council on the likely timeline. Thatâs
FINTRAC HACK RAISES CONCERNS TRANSACTIONS NOT BEING REPORTED TO WATCHDOG
G&M - Alexandra Posadzki (2024-03-21)
However, experts have expressed concerns about the fact that reports are not being submitted. âFinancial
RBC PARTS WAYS WITH CHIEF STRATEGY OFFICER, LEADING TO EXECUTIVE SHUFFLE
G&M - Tim Kiladze, Stefanie Marotta (2024-03-21)
Royal Bank of Canada is parting ways with its chief administrative and strategy officer and rejigging its executive team, a shake-up that will broaden the role of its chief legal officer. Christoph
WHY YOU CAN’T AFFORD A HOME, EXPLAINED IN 10 CHARTS
G&M - Jason Kirby, Matt Lundy. Mark Rendell (2024-03-21)
Letâs say youâre the typical household in Canada and want to buy a home. You
BUSINESSES WORRIED ABOUT ESG FRAUD AS STAKEHOLDER PRESSURE MOUNTS
Yahoo Finance (2024-03-21)
In a new survey of 300 Canadian organizations, KPMG found that 89 per cent of respondents say they're facing intense scrutiny from stakeholders to demonstrate progress on ESG targets.
CANADA'S INFLATION RATE SLOWED TO 2.8% IN FEBRUARY, BEATING EXPECTATIONS FOR 2ND MONTH IN A ROW
CBC - Jenna Benchetrit (2024-03-21)
Canadians who signed up for a new cell phone plan in February paid 26.5
SWIFT SELECTED TO BUILD NATIONAL CONFIRMATION OF PAYEE SERVICE IN AUSTRALIA
Finextra (2024-03-20)
Adrian Lovney, chief payment and schemes officer at AP+, says: âThe development of an industry wide Confirmation of Payee service will play an important role in reducing certain types of scams resulting in misdirection of a payment to the wrong account as well as avoid mistaken payments being made to
JULIUS BAER HITS REBOOT TO ESCAPE SWISS BANKING’S NEW MALAISE
Bloomberg (2024-03-20)
A year ago, as UBS Group AG was dissecting the remains of Credit Suisse after its emergency takeover of the troubled lender, the executive team at another top Swiss private bank jumped to reassure clients of its stability.
TAKE BETTER CONTROL OF FINANCIAL DATA': WHAT 'OPEN BANKING' WOULD MEAN TO YOU
FP (2024-03-20)
Hwan Kim, partner at Deloitte Canada, talks with Financial Postâs Larysa Harapyn about what â/nopen banking/nâ would mean to you, your finances and your data privacy, as the federal government prepares to introduce framework legislation for the system in the April 16 budget.
BROOKFIELD ASSET MANAGEMENT NAMES FORMER GOLDMAN EXECUTIVE AS NEW CFO
G&M (2024-03-20)
Brookfield Asset Management Ltd.
BANK CEO SUCCESSION IS THE TALK OF BAY STREET, BUT WOMEN ARE NOT LIKELY CANDIDATES
Stefanie Marotta (2024-03-20)
Canadaâs biggest banks are on the brink of a round of CEO shakeups, and the chances that the next group of the countryâs most influential Bay Street leaders will include a woman are slim to none. More
WE MUST CONSIDER SERIOUS, STRUCTURAL CHANGES FOR THE BANK OF CANADA
G&M (2024-03-20)
The current monetary policy framework between the government and the Bank of Canada, which lays out the mandate of the central bank, is set to expire at the end of 2026.
FED TO GIVE FRESH CLUES ON PATH OF INTEREST-RATE CUTS
Bloomberg - Steve Matthews (2024-03-20)
The Federal Reserve will likely avoid signaling an imminent rate cut this week, staying focused on stubborn inflation while keeping one eye on a slowly rising jobless rate.
JPMORGAN SETS UP DEDICATED SPORTS INVESTMENT BANKING TEAM, MEMO SHOWS
G&M (2024-03-20)
JPMorgan Chase has created a new sports-focused investment banking team as the Wall Street bank seeks to tap an increasingly lucrative industry, according to an internal memo seen by Reuters on Tuesday. The
WHY BIG BANKS ARE RESISTING BIGGER ‘CAPITAL CUSHIONS’
Bloomberg - Jennifer Surane and Katanga Johnson (2024-03-20)
US regulators proposed new rules last summer requiring banks to add billions of dollars to their so-called capital cushions, which offer protection during downturns.
JUNE RATE-CUT BETS RISE AS CANADA'S INFLATION COOLS MORE THAN EXPECTED
Yahoo Finance - Alicja Siekierska (2024-03-20)
"There was unambiguously good news on the inflation front in Canada in February," CIBC Capital Markets senior economist Katherine Judge wrote in a research note, adding that the latest inflation data are "clearly encouraging from the Bank of Canada's perspective."
ONTARIO TO LEAD NATIONAL SURGE IN COTTAGE PRICES, SAYS ROYAL LEPAGE
Yahoo Finance - Shantaé Campbell (2024-03-20)
Single-family recreational homes in the province are positioned for an eight per cent surge in their average price this year, outpacing the national average of five per cent, putting the average price in Ontario at $662,148, compared to the expected national average of $678,930, according to a Royal LePage report
CANADIAN INFLATION COOLS AS DEMAND DROPS, MUCH WEAKER THAN US
Better Dwelling (2024-03-20)
The largest downward pressures on annual growth included phone bills (-20.5%),
ROBINHOOD GOES LIVE ACROSS THE UK
Finextra (2024-03-19)
At launch, Robinhood will offer trading without foreign exchange (FX) fees, trading outside of market hours and no account minimums.
ETHIOPIAN BANK GLITCH LETS CUSTOMERS WITHDRAW MILLIONS
Finextra (2024-03-19)
Customers took advantage to make ATM withdrawals and money transfers, making off with more than £31 million, according to the BBC.
BANK OF CANADA WALKING A 'TIGHTROPE' AS ANALYSTS FORECAST INFLATION JUMP IN FEBRUARY
FP (2024-03-19)
People banking on an interest rate cut may not like the direction /nCanadian inflation/n is heading if analyst expectations prove correct. Bloomberg
CANADA'S HOME PRICES STABILIZE FOLLOWING FIVE-MONTH DECLINE
FP - Shantaé Campbell (2024-03-19)
Shifts this abrupt are exceedingly rare,â CREA said in a release on Monday. CREA
BANK OF CANADA URGED TO MOVE 'AGGRESSIVELY' ON INTEREST RATE CUTS
FP (2024-03-19)
Ed Devlin, founder of Devlin Capital and senior fellow at the CD Howe Institute, talks with Financial Postâs Larysa Harapyn about the Bank of Canadaâs next move/n and the Canadian economy
UBS POWERS PAST $100 BILLION A YEAR AFTER CREDIT SUISSE FALL
Bloomberg (2024-03-19)
On the first anniversary of the bankâs historic takeover of its former rival Credit Suisse, itâs becoming clear just how advantageous the deal has been for the bank.
OSC PROBES EMERGE CANADA AFTER INVESTMENT MANAGER SHUT DOWN FUNDS
G&M - David Milstead, Clare OâHara, Jameson Berkow (2024-03-19)
The Ontario Securities Commission is probing Emerge Canada Inc.
UNDERSTANDING NEW YORK COMMUNITY BANK’S PLUNGE, AND ITS RESCUE DEAL
Bloomberg (2024-03-19)
Every banking crisis has winners and losers.
WHY THE LIBERALS' 'DANGEROUS' PURSUIT OF CANADA'S PENSION BILLIONS KEEPS FALLING FLAT
FP - Barbara Shecter (2024-03-19)
To say those much-touted plans fell flat might be an understatement.
SWISS NATIONAL BANK SOLD FOREX WORTH NEARLY $150 BILLION IN 2023
Reuters (2024-03-19)
The SNB's strategy has paid off, with Swiss inflation within its 0-2% target range for last nine months. "The
CANADA IS SPENDING 75% OF ITS FORECAST DEFICIT TO PROP UP MORTGAGES
Better Dwelling (2024-03-19)
However, thereâs a much bigger takeaway regarding Canadaâs relationship with capital markets.
RAYMOND JAMES FORESEES HITTING $100B IN A FEW YEARS
Investment Executive (2024-03-19)
In 2016, Raymond James Ltd.
NATIONAL HOME SALES IN FEBRUARY UP NEARLY 20% COMPARED WITH YEAR AGO
Investment Executive (2024-03-19)
The number of newly listed properties was up 1.6%
'IT'S CRAZY RIGHT NOW': HOUSE FLIPPING SURGES TO NEW HEIGHTS IN CALGARY'S RED-HOT REAL ESTATE MARKET
CBC - Robson Fletcher (2024-03-18)
The latest statistics show 6.5
CMHC SAYS NEW HOME CONSTRUCTION JUMPED 14% IN FEBRUARY FROM PREVIOUS MONTH
CBC - Jeanna Benchetrit (2024-03-18)
The national housing agency says the seasonally adjusted annual rate of new home construction â also known as housing starts â amounted to 253,468 units in February, compared with 223,176 in January.
MEET THE ‘WITCH OF WALL STREET,’ A BLACK-CLAD PIONEERING VALUE INVESTOR WHO BECAME THE WORLD’S RICHEST WOMAN—BUT IS WRONGLY REMEMBERED AS A CHEAPSKATE
Yahoo Finance - Will Daniel (2024-03-18)
Hetty Green isnât a name you hear a lot these daysâbut it should be.
THE DARK SIDE OF BAY STREET’S PRIVATE DEBT FUNDS: INVESTORS OFTEN FLY BLIND, AND BILLIONS OF DOLLARS ARE NOW TRAPPED
G&M (2024-03-18)
In all, private debt funds that manage nearly $10-billion have struggled with elevated redemption requests or major defaults, and close to two-thirds of these assets are now trapped in funds that have halted redemptions. Despite
CANADIAN PAYMENTS PROCESSOR NUVEI BEING PURSUED BY PRIVATE EQUITY FIRM ADVENT INTERNATIONAL
G&M (2024-03-18)
Private equity firm Advent International is in advanced talks to buy Nuvei, a Canadian payments technology company that has received financial backing from actor Ryan Reynolds, a source familiar with the matter told Reuters on Saturday. A
HOMEOWNERS, REALTORS SHOULD TAKE STEPS TO PROTECT AGAINST TITLE FRAUD, SAY EXPERTS
G&M (2024-03-18)
Itâs been years since you finished paying off your mortgage, so the letter in the mail from a bank saying youâre in default and now owe money comes as a shock. Not
POWELL’S SILENCE FRUSTRATES MARKETS AS POST-COVID ECONOMY SHIFTS
Bloomberg (2024-03-18)
For Rick Plympton, thereâs no going back to the pre-Covid economy.
UK PROPERTY ASKING PRICES RISE AT FASTEST PACE IN 10 MONTHS
Bloomberg (2024-03-18)
"Britainâs property sellers boosted the prices theyâre asking for homes at the quickest pace in 10 months, indicating increasing confidence the market is strengthening, according to the online sales portal Rightmove.
PUTIN WINS RUSSIA ELECTION IN LANDSLIDE WITH NO SERIOUS COMPETITION
Reuters - Guy Faulconbridge and Andrew Osborn (2024-03-18)
President Vladimir Putin won a record post-Soviet landslide in Russia's election on Sunday, cementing his already tight grip on power in a victory he said showed Moscow had been right to stand up to the West and send its troops into Ukraine. Putin,
JAPANESE BANK TRAINS STAFF FOR A NOVEL SCENARIO: POSITIVE INTEREST RATES
Reuters - Takahiko Wada and Leika Kihara (2024-03-18)
In other sessions, the bank's older executives with experience of the days when Japan had positive interest rates share their know-how on convincing borrowers to swallow higher charges. The
SWEDISH CENTRAL BANK CALLS FOR LEGISLATION TO PROTECT CASH
Finextra (2024-03-18)
The Riksbank has also sounded the alarm over cash management, noting that there is currently only one private company in the country transporting physical money to and from retail businesses.
DEUTSCHE BANK CUTS BONUSES OVER BOTCHED POSTBANK IT INTEGRATION
Finextra (2024-03-18)
In its annual report, the bank says "the large number of customers who experienced limitations as a result of the migration is unacceptable.
IS IT TIME FOR CANADA TO EMBRACE THE 30-YEAR MORTGAGE?
FP (2024-03-15)
In Canada, when talk turns to 30-year mortgages, generally we are talking about the amortization period â that is, the length of time it would take to pay off a mortgage in full, at a given monthly payment level and current interest rates.
MORE CANADIANS WORRIED ABOUT DEFAULTING ON THEIR MORTGAGE OR MAJOR LOAN PAYMENT, SAYS POLL
FP (2024-03-15)
The number of Canadians worried about defaulting on a mortgage or major loan payment rose in February, according to a long-running survey that tracks peopleâs financial outlooks. Eighteen
HTTPS://FINANCIALPOST.COM/NEWS/ECONOMY/OTTAWA-ON-TRACK-MISS-DEFICIT-TARGET-DESJARDINS
FP (2024-03-15)
"Canada is unlikely to meet its deficit goals unless it makes substantial spending cuts or finds new sources of revenue, according to the countryâs largest financial co-operative. An
BLACKSTONE SAYS TIME TO BUY REAL ESTATE AS PRICES AT BOTTOM
Bloomberg (2024-03-15)
Real estate prices have bottomed and thereâs a great opportunity to move fast and buy assets at beaten-down prices, according to Blackstone Inc.
CANADA AND THE U.S. SHARE ONE THING IN COMMON: A MOUNTAIN OF DEBT
G&M (2024-03-15)
A lot gets made of soaring U.S.
BMO MISSES GOALS, PAYS BONUSES: A LONG-TIME PATTERN CONTINUES
G&M (2024-03-15)
In an underwhelming year for Canadaâs big banks that resulted in falling CEO paycheques, none saw their total compensation tumble more than Darryl White of Bank of Montreal â a notable 12.2-per-cent
BANK OF CANADA RATE CUT WATCHERS STARTING TO LOOK PAST THE SUMMER
FP (2024-03-15)
Looking further out, the market has pushed the first Bank of Canada interest rate cut to July-ish, according to the forward rate data provided by CanDeal DNA.
FINANCIAL SERVICES EXECS INVESTING IN GENERATIVE AI: REPORT
Investment Executive - Jonathan Got (2024-03-15)
While three-quarters of executives globally were confident about their firmsâ digitalization generally, Broadridge found that the leaders had made gains in talent and culture initiatives compared to the non-leaders.
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ONTARIO’S PROPOSED BUDGET CHANGES ON AUTO INSURANCE COVERAGE COULD INCREASE PREMIUMS
G&M - Chris Hannay, Clare O'Hara (2024-03-28)
The Ontario government proposed in Tuesdayâs budget to make a number of changes it said would modernize the auto-insurance system by increasing consumer choice, improving access to services and providing for a reduction in premiums. For
RBC’S HEAD OF CANADIAN RESEARCH LEAVES FOR TD
G&M - Jameson Berkow (2024-03-28)
Andre-Philippe Hardy has returned to the bank where his career began. After
POPULATION GAINS IN CANADA HIT NEW RECORD, BUT THIS MAY BE THE PEAK OF THE BOOM
FP - Randy Thanthong-Knight (2024-03-28)
The population grew by 1.3
CHINA PROPERTY CRISIS IS RIPPLING THROUGH ITS BIGGEST BANKS
Bloomberg (2024-03-28)
Chinaâs protracted property downturn is eroding the balance sheets of the nationâs largest state banks as their bad loans creep up. Bank
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FSIM briefings and developments reports
BUSINESS LEADERS SAY HOUSING BIGGEST RISK TO ECONOMY: KPMG SURVEY
Housing issues are forcing businesses to boost pay to better attract talent and budget for higher labour costs, agreed 87% of respondents.
UBS MAKES ERMOTTI EUROPE'S BEST-PAID BANK BOSS WITH $16 MLN PACKAGE
"Sergio has committed to stay at least until the completion of the integration process, if not longer," the annual report said. UBS also said that findings drawn up by Swiss authorities looking into the 2023 collapse of Credit Suisse could result in more stringent regulation in future. The bank is still reviewing potential mis-statements in Credit Suisse's financial reports and talks with regulators to address the issue are ongoing, UBS said
CANADA IS STILL BACKING THE FOSSIL FUEL INDUSTRY WITH BILLIONS, REPORT FINDS
The analysis found that Export Development Canada provided public financing to many companies, often at subsidized rates. The financing included $300 million for Nova Chemicals Corporation, a petrochemical company, and $200 million for Enbridge.