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.

Sample RFP for a Loyalty Program  

fsim.ca/docs/sample RFP for a loyalty program.pdf

Mark Sibthorpe

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.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

CANADA IS BUILDING LOTS OF RENTAL HOUSING – AND LOSING INTEREST IN CONDOS

G&M - Matt Lundy (2025-07-18)

Despite a challenging economic environment, national housing starts have held up a lot better than gloomy predictions from analysts.

POWELL DEFENDS $2.5 BILLION FED RENOVATION IN LETTER TO WHITE HOUSE

Yahoo Finance (2025-07-18)

Jerome Powell offered his first detailed defense of a $2.5

THE NEXT FED CHAIR'S DILEMMA: MAINTAIN FED INDEPENDENCE WHILE PLEASING TRUMP

Yahoo Finance (2025-07-18)

Even if the president doesn't remove Powell before his term is up in 10 months, Trump has made it clear that he wants the next Fed boss to do what he wants: bring interest rates down.

CANADIAN RENTAL BEAR MARKET IS JUST GETTING STARTED: BMO

Better Dwelling (2025-07-18)

“That [shift from condos to rentals] has cushioned the economic impact of a frozen ownership/condo market.

INSTANT IMPACT: WHY REAL-TIME PAYMENT SUCCESS HINGES ON OPTIONALITY

Pymnts (2025-07-18)

Real-time payments’ success rests in large part on ensuring system interoperability and real-time data exchange.

THE FED BUILDING RENOVATION AT THE HEART OF TRUMP’S EFFORTS TO OUST POWELL

WSJ (2025-07-17)

Few people noticed when a former Federal Reserve economist published a report earlier this year about ballooning costs in the central bank’s headquarters renovation.

BIG BANKS ARE SPINNING MARKET CHAOS INTO GOLD

WSJ (2025-07-17)

Second-quarter market upheaval was about tariff policies.

BANK CEOS ARE COMING OUT FIGHTING FOR FED INDEPENDENCE

WSJ (2025-07-17)

The nation’s biggest bankers are speaking out to defend the independence of the Federal Reserve while President Trump openly discusses ousting Chair Jerome Powell. Goldman

TRUMP EXECUTIVE ORDER TO HELP OPEN UP 401(K)S TO PRIVATE MARKETS

WSJ (2025-07-16)

President Trump is expected to sign an executive order in the coming days designed to help make private-market investments more available to U.S.

DIMON DEFENDS FED INDEPENDENCE AFTER TRUMP ATTACKS

WSJ (2025-07-16)

JPMorgan Chase Chief Executive Jamie Dimon sounded Wall Street’s clearest warning against the Trump administration’s attacks on Federal Reserve Chair Jerome Powell, describing the central bank’s independence as crucial. “I

‘TARIFF MAN’ STRIKES AGAIN—AT CANADA

WSJ (2025-07-16)

Would Tariff Man please take a summer vacation for the good of the nation? Stocks tumbled on Friday after President Trump announced he will raise tariffs on Canada to 35%, starting Aug.

AMERICA IS THE BUCK-WILD CRYPTOLAND NOW. CANADA WILL HAVE TO LIVE WITH THAT

G&M - ETHAN LOU (2025-07-16)

Timing was not on Changpeng Zhao’s side.

CANADA'S HOUSING MARKET STAYED FLAT OVERALL IN THE SPRING, BUT SOME CITIES SAW PRICE JUMPS

Yahoo Finance - John McFarlane (2025-07-16)

The national aggregate home price rose 0.3

CITI TO BOOST JAPAN INVESTMENT BANKING HEADCOUNT UP TO 15%, EXECUTIVE SAYS

Yahoo Finance (2025-07-16)

"We are hiring and strengthening our regional investment banking team in a very meaningful way," Jan Metzger, Citi's Asia Pacific head of investment banking, told Reuters.

FOR EUROPE, 30 PER CENT U.S. TARIFF WOULD HAMMER TRADE, FORCE EXPORT MODEL RETHINK

BNN (2025-07-16)

Under its existing policy of trade diversification, the EU has done well in striking preliminary deals with new partners but - as the continued delay over completion of the giant EU-Mercosur trade pact shows - it has struggled to get them fully signed and sealed.

BARCLAYS FINED £42 MILLION OVER UK MONEY LAUNDERING LAPSES

Bloomberg (2025-07-16)

The bulk of the fine is tied to Barclays’ failure to adequately manage money laundering risks tied to Stunt & Co.,

CANADIAN REAL ESTATE PRICE FLOOR BREAKS, PRICES PLUNGE TO 4-YEAR LOW

Better Dwelling (2025-07-16)

Canadian real estate sellers who thought the market was stabilizing may soon realize they’re just in the eye of the storm.

CRYPTO SECTOR IN NEW EU REGULATOR’S CROSSHAIRS

Investment Executive (2025-07-16)

With crypto firms now starting to register under the region’s new regulatory framework — the Markets in Crypto-Assets Regulation (MiCA) — AMLA said it will work closely with other pan-European authorities and national regulators to coordinate efforts.

INFLATION RISES TO 1.9% IN JUNE AS VEHICLE PRICE HIKES ACCELERATE

Investment Executive (2025-07-16)

“One of the reasons why underlying inflation is still relatively strong is because, yes, the economy has proven a bit more resilient than I think many expected,” Porter said.

HOME SALES UP IN JUNE, THOUGH FEWER SALES EXPECTED THIS YEAR, SAYS CANADIAN REAL ESTATE ASSOC.

CBC (2025-07-16)

The association said the tariff-related uncertainty that drove so many buyers back to the sidelines earlier this year ended up taking a larger bite out of activity in B.C.,

SWEDISH BANK SEB'S QUARTERLY PROFIT TOPS ESTIMATES AS LENDING, DEPOSITS GROW

Reuters (2025-07-16)

SEB generates a larger portion of its income from corporate clients compared with domestic rivals such as Swedbank (SWEDa.ST),

COUCHE-TARD WITHDRAWS $47-BILLION TAKEOVER BID FOR JAPAN’S SEVEN & I

G&M (2025-07-16)

Canadian retailer Alimentation Couche-Tard Inc.

TRUMP SAYS FIRING U.S. FEDERAL RESERVE’S POWELL IS ‘HIGHLY UNLIKELY’

G&M - RYAN PATRICK JONES (2025-07-16)

U.S.

BANK EARNINGS REVIEW: FINANCIAL SECTOR LOOKS 'PRETTY GOOD'

Yahoo Finance (2025-07-16)

Mendon Capital senior portfolio manager Anton Schutz joins Market Domination Overtime with Josh Lipton to discuss his big takeaways from bank earnings and what they reveal about the financials sector, noting that things look "pretty good."

TD STRATEGIST SAYS ‘WE ARE INCHING CLOSER TO A WARTIME ECONOMY’ AS NATIONS STOCKPILE RESOURCES

BNN (2025-07-16)

“We’ve seen significant signs of stockpiling behaviour, both in the U.S.

‘A TIGHT SPOT’: ECONOMISTS EXPECT BANK OF CANADA TO HOLD POLICY RATES

BNN (2025-07-16)

“The Bank of Canada...

FORGET ROYAL BANK OF CANADA (TSX:RY)! THERE’S A NEW KING IN CANADIAN BANKING

Yahoo Finance (2025-07-16)

While the growth rates for RBC are steady, there is another TSX stock poised to deliver outsized gains.

CANADIAN REAL ESTATE DEMAND BALANCE WEAKEST SINCE 90S CRASH

Better Dwelling (2025-07-16)

Despite a relatively small correction following 26 years of generally rising prices, market conditions now resemble historical warnings.

OPINION: CANADA’S MOMENT TO RAISE THE BAR FOR INVESTMENT ADVICE

Investment Executive (2025-07-16)

The U.K.

POST-CRISIS RULES TO KEEP BANKS SAFE ARE ON THE WAY OUT

WSJ - Joe Wallace (2025-07-15)

At a banquet in a gilded palace here on Tuesday night, U.K.

JAMIE DIMON SAYS PRIVATE CREDIT IS DANGEROUS—AND HE WANTS JPMORGAN TO GET IN ON IT

WSJ - Joe Wallace (2025-07-15)

In the ballroom of the swanky Loews Hotel in Miami Beach, Dimon got on stage in front of hundreds of clients in February to talk about the boom in unregulated lending to highly indebted companies.

ECB TO TEST BANKS' RESILIENCE TO GEOPOLITICAL RISK IN 2026

Reuters (2025-07-15)

The European Central Bank will test banks' resilience to geopolitical risk next year, telling them to come up with scenarios that would wipe out large chunks of their capital, chief ECB supervisor Claudia Buch said on Tuesday. The

BOE DELAYS BASEL RULE ON BANKS' TRADING TO 2028, EASES CAPITAL BURDEN ON MIDSIZE BANKS

Reuters (2025-07-15)

Britain's central bank on Tuesday delayed implementing a key part of new, global rules governing banks' trading activities by a year to 2028, as it waits for clarity on what other jurisdictions including the United States will do. As

AUSTRALIA LOOKS TO SCRAP SURCHARGES ON MOST CARD PAYMENTS

Reuters (2025-07-15)

Australia's central bank on Tuesday proposed to scrap surcharges on most debit and credit card payments for consumers while lowering interchange fees paid by businesses, steps it estimated would save the two groups around A$2.4

STARBUCKS SAYS REMOTE LEADERS MUST RELOCATE TO EITHER TORONTO OR SEATTLE – OR TAKE A BUYOUT

G&M (2025-07-14)

Starbucks Corp.

CANACCORD GENUITY LANDS CORMARK MINING BANKER

G&M - Andrew Willis (2025-07-14)

Investment bank Canaccord Genuity Group Inc.

MARK CARNEY, HEED THE HARSH LESSONS FROM THE IMPLODING BRITISH GOVERNMENT

G&M - John Rapley (2025-07-14)

John Rapley is a contributing columnist for The Globe and Mail.

OTTAWA'S 'SUBSTANTIAL' BORROWING NOT EXPECTED TO HIT NATION'S AAA CREDIT RATINGS: DESJARDINS

Yahoo Finance (2025-07-14)

Canada's AAA sovereign credit ratings from two top agencies are safe from Prime Minister Mark Carney’s spending promises and tax cuts, according to a new analysis by Desjardins Group. Since

NEARLY TWO-THIRDS OF CANADIANS WANT INTEREST RATE CUTS AS FINANCIAL ANXIETY GROWS: POLL

Yahoo Finance (2025-07-14)

“Canadians have not witnessed such economic uncertainty since the pandemic.

CALIFORNIA PENSION FUND POSTS 11.6% GAIN DRIVEN BY STOCKS, OUTPACING ANNUAL GOAL

BNN (2025-07-14)

The California Public Employees’ Retirement System reported an 11.6%

CANADIAN YOUTH UNEMPLOYMENT AT RECESSION LEVELS. THE KIDS ARE NOT ALRIGHT: BMO

Better Dwelling (2025-07-14)

Canada’s youth unemployment rate is significantly elevated from historical norms.

HOMEOWNERSHIP THE 40-YEAR-OLD VIRGIN HOMEBUYER: CANADA’S FIRST-TIME OWNERS ARE OLDER THAN EVER AND THEY’RE OKAY WITH THAT

G&M (2025-07-13)

For generations, the path to adulthood in Canada was scripted: you graduated, started working and bought a house, likely all in your 20s. That

CANADIAN UNEMPLOYMENT RATE UNEXPECTEDLY DROPS IN JUNE TO 6.9%

G&M - Vanmala Subramaniam (2025-07-13)

Canadian employers went on a hiring blitz to start the summer and the jobless rate unexpectedly dropped in June, despite challenges posed by the country’s trade war with the United States. Statistics

ALBERTA’S ATB FINANCIAL IN TALKS TO BUY INVESTMENT BANK CORMARK SECURITIES

G&M (2025-07-13)

ATB Financial is in talks to acquire independent investment dealer Cormark Securities Inc.,

AIMCO PROMOTES JUSTIN LORD TO CHIEF INVESTMENT OFFICER, WILL LEAD REVAMPED INVESTING MANDATE

G&M (2025-07-13)

Alberta Investment Management Corp.

CANADA'S ECONOMY ADDED 83K JOBS IN JUNE, MUTING CHANCE OF A BOC RATE CUT

Yahoo Finance (2025-07-13)

"Barring a sharp decline in underlying inflation in next week's June CPI report (which looks unlikely), the strength in today's jobs data and the recently heightened uncertainty on the trade front likely will keep the BoC on the sidelines when it meets later this month," Reitzes said, referring to Statistics

BIG BANKS, NETFLIX, PEPSICO, GE AEROSPACE: EARNINGS THIS WEEK

Yahoo Finance (2025-07-13)

On Tuesday, JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) are reporting earnings.

CHINA BANKS STOKE CONTROVERSY WITH LOANS TO BOOST PENSIONS

Bloomberg (2025-07-13)

Rural banks in China have created a public stir by targeting low-income earners and the elderly with loan products designed to plug their pension shortfalls as lenders get creative amid soft borrowing demand. Banks

BITCOIN TOPS US$118,000 FOR THE FIRST TIME, AS THE CRYPTOCURRENCY CONTINUES TO CLIMB TO NEW HEIGHTS

Investment Executive (2025-07-13)

“Bitcoin has shown resilience this year rebounding in-line with its macro exposures following tariff announcements,” Citi analysts wrote in a Friday research insights.

BIG BANKS’ SALES TARGETS CAN PRESSURE MUTUAL FUND ADVISERS TO SKEW ADVICE TO CLIENTS, REVIEW FINDS

G&M - Clare O'Hara (2025-07-11)

A regulatory review of the sales practices at Canada’s Big Five banks found that mutual fund advisers face a high degree of pressure to meet sales targets, which can lead to products or services being offered that are not in the clients’ best interests. In

I DITCHED MY BRICKS-AND-MORTAR BANK ACCOUNT AND IT’S ONLY BEEN POSITIVE

G&M - Salamaan Faroooqui (2025-07-11)

A couple of months ago, I took the plunge and finally got rid of my Big Six bank account. I

CANADA INFRASTRUCTURE BANK SET TO FALL WELL SHORT OF 2028 INVESTMENT TARGET: PBO

Yahoo Finance (2025-07-11)

In a new report released Thursday, the Office of the Parliamentary Budget Officer said the infrastructure bank is on track to disburse $14.9

BANKER ACCUSED IN $140 MILLION PONZI SCHEME BOUGHT A PATEK PHILIPPE WATCH, JAUNTS TO KENNEBUNKPORT, AND PUT MILLIONS ON HIS CREDIT CARDS, SEC SAYS

Yahoo Finance (2025-07-11)

A politically connected Georgia financier has been accused of running a multi-million Ponzi scheme that was helped along through targeted advertisements on right-wing and conservative media channeling the “Patriot Economy.”

TRAVEL AND TOURISM’S VALUE TO THE CANADIAN ECONOMY

BNN (2025-07-11)

As an introduction to a special episode on travel and tourism, Amanda Lang takes a By The Numbers look at the value of the sector to the Canadian economy.

NATIONAL BANK TAPS KELLER, STEFANEK TO BOOST POWER TEAM IN NY

Bloomberg (2025-07-11)

National Bank of Canada hired two senior investment bankers to bolster its power, utilities and infrastructure advisory business as it seeks to grow its presence in the US market. Seth

POPULARIZING PRIVATE CREDIT MAY KILL ITS APPEAL

Investment Executive - James Langton (2025-07-11)

For instance, the existence of large, persistent discounts between an ETF’s trading price and the value of its underlying assets could “raise doubts about the quality and accurate valuation of the underlying assets and lead to losses for investors,” the paper said.

FSB TACKLES LEVERAGE IN THE SHADOW BANKS

Investment Executive - James Langton (2025-07-11)

“It focuses on those risks that may arise in financial markets that are at the core of the financial system and whose functioning is essential for the real economy, and risks that may arise through interlinkages between leveraged non-banks and systemically important financial institutions in their role as leverage providers,”

MORTGAGE RENEWALS WILL STRAIN CANADIANS, BUT MOST WILL MANAGE: TD REPORT

Investment Executive (2025-07-11)

“In the final two quarters of last year, mortgage interest payments declined by an average of 1.7%,

VISA SEES EMBEDDED FINANCE SHAPING PAYMENTS IN SECOND HALF OF 2025

Pymnts (2025-07-11)

Embedded finance is rapidly reshaping the payments landscape by integrating financial services, especially payments, into a wide range of non-financial platforms.

UK WATCHDOG SHUTTERS 1,600 UNLAWFUL FINANCIAL SERVICES WEBSITES

Pymnts (2025-07-11)

In addition, the FCA took action against illegal financial promotions by unauthorized “finfluencers” and canceled the authorizations of more than 1,500 firms, 20% more than in 2023 and more than triple the number in 2021, per the release.

TRUMP’S TRADE GOALS ARE BECOMING CLEARER. BRACE FOR IMPACT, CANADA

G&M - Tony Keller (2025-07-09)

Many conservatives and Conservatives believe that Prime Minister Mark Carney pulled a fast one in the last election.

IMMIGRATION CAPS ARE CONTRIBUTING TO LOWER ASKING RENTS IN CANADA, CMHC SAYS

G&M - RACHELLE YOUNGLAI (2025-07-09)

Canada’s caps on foreign students and new residents have contributed to reduced demand for rental housing and lower average asking rents in Vancouver, Calgary, Toronto and Halifax, according to a new study from the national housing agency. Over

BOE TO REVIEW BANK CAPITAL RULES FOR FIRST TIME IN FIVE YEARS

Bloomberg - Greg Ritchie and Jennifer Surane (2025-07-09)

The Bank of England will review the overall level of capital requirements it sets for banks for the first time in five years after officials determined that lenders have largely been able to keep an adequate cushion against hard times for much of the past decade. The

BOE WARNS OF GROWING RISKS FROM HEDGE FUND LEVERAGE IN GILTS

Bloomberg (2025-07-09)

Financial stability risks from leveraged hedge fund strategies in gilts are growing, the Bank of England said Wednesday, with officials warning the opaque nature of their trading activity exacerbates the threat. Hedge

CREDIT FUND’S COLLAPSE LEADS TO $1 BILLION LAWSUIT AGAINST EY

Bloomberg - Paula Sambo (2025-07-09)

Bridging Finance Inc.’s

VANCOUVER REAL ESTATE SALES FALL, MOST INVENTORY SINCE BOC SUGGESTED A BUBBLE

Better Dwelling (2025-07-09)

What happened in 2013? Glad you asked—that was back when the Bank of Canada (BoC) deputy governor (now Governor) Tiff Macklem suggested a bubble, delivering a speech in Vancouver.

CORPORATE BANKRUPTCIES ON THE RISE IN U.S.

Investment Executive - James Langton (2025-07-09)

Additionally, consumer spending “is straining under the weight of a cooling job market, inflation still above monetary policymakers’ targets and the Trump administration’s tariffs,” it noted.

TRUMP SAYS HE WILL HIT COPPER IMPORTS WITH 50% TARIFFS

Investment Executive - Kelly Geraldine (2025-07-09)

“The copper concentrate that we mine tends to go to other markets, so this is kind of immaterial.

JPMORGAN IS REVAMPING ITS BANK FOR THE SUPERRICH TO CATER TO GLOBAL CLIENTELE

WSJ - Alexander Saeedy (2025-07-09)

JPMorgan Chase JPM -3.15%decrease;

GLOBAL INSURANCE BROKING MARKET HIT US$180BN IN 2024

Insurance Business (2025-07-09)

The insurance broking industry showed further consolidation in 2024, with the top 15 groups controlling 48.7%

EQUITABLE BANK NAMES CHADWICK WESTLAKE AS CEO

G&M (2025-07-09)

Equitable Bank has named Chadwick Westlake as its chief executive officer, bringing its former finance head back to lead the bank after previous CEO Andrew Moor died unexpectedly in June. Mr.

BLACKSTONE, U.S. EQUITY FUNDS IN TALKS TO BUY H&R ASSETS AS ACTIVIST INVESTOR PRESSES REIT TO SELL

G&M - Andrew Willis (2025-07-09)

U.S.

BOFA BOOSTS TARGETS FOR CANADIAN BANKS, CITING OPTIMISM ON TRADE, ECONOMY

Yahoo Finance - John MacFarlane (2025-07-09)

BofA economists recently wrote that Canada’s economy has been “more resilient than originally expected,” Poonawala notes, raising their forecast for gross domestic product growth in 2025 from one per cent to 1.4

BANK OF ENGLAND FINES FIRST INFRASTRUCTURE FIRM

Investment Executive (2025-07-09)

“Vocalink fell short of its obligation to have adequate risk management and governance arrangements when responding to the bank’s direction.

CANADIANS NEED A PENSION DASHBOARD: C.D. HOWE

Investment Executive - Kevin Press (2025-07-09)

“How can Canadians make optimal decisions if they don’t have a straightforward way to see how savings and entitlements translate into monthly income?” asked Bush, in a media release.

WSJ MARKETTALK

WSJ (2025-07-09)

Insurers around the world are bound to experience decelerating premium growth due to the current unstable policy environment and competitive pressures, according to a report from Swiss Re Institute.

AUSTRALIA TAKES ANOTHER STEP TOWARD A CENTRAL BANK DIGITAL CURRENCY

Reuters (2025-07-09)

Australia's central bank said on Thursday it was taking another major step toward a wholesale central bank digital currency (CBDC) with a range of industry partners pursuing projects using real money and assets for the first time. The

GLOBAL BANKS PREDICTED TO GET 10% TRADING REVENUE BOOST ON TARIFF TURMOIL

Reuters (2025-07-09)

Global banks including top U.S.

CANADIAN NONBANK LENDERS GROW MARKET SHARE, OUTPACING TRADITIONAL BANKS

Mortgage Broker News - Candyd Mendoza (2025-07-09)

That growth, while slightly below the global average of 8.5%,

REVOLUT REPORTEDLY AIMS TO RAISE $1 BILLION FOR GLOBAL EXPANSION

Pymnts (2025-07-09)

Revolut attributed that valuation to its financial performance in the preceding quarters, which included a 95% increase in revenues in 2023 compared to the previous year, and growth in its customer base.

HOUSE SETS ‘CRYPTO WEEK’ AS CONGRESS TAKES UP MAJOR DIGITAL ASSET BILLS

Pymnts (2025-07-09)

The Senate hearing, titled Building Tomorrow’s Digital Asset Markets, will feature Blockchain Association CEO Summer Mersinger, Chainalysis CEO Jonathan Levin, Paradigm general partner Dan Robinson, and Ripple CEO Brad Barlinghouse at the witness table.

FINANCING DEMAND IN GLOBAL TRADE MARKETS GROWS AS CANADIAN COMPANIES DIVERSIFY AMID TARIFFS

G&M - Stefanie Marotta (2025-07-08)

Prime Minister Mark Carney is eager to have all U.S.

RBC TELLS CUSTOMER SHE'S RESPONSIBLE FOR $14K STOLEN FROM ACCOUNT IN BANK INVESTIGATOR SCAM

Yahoo Finance (2025-07-08)

The caller told Plett, who lives just outside Montreal, that someone in Vancouver was trying to steal $2,000 from her bank account.

PITFALLS OF AI TECHNOLOGY’: ROSENBERG SPEAKS OUT ON FINANCIAL SCAM USING HIS LIKENESS

BNN - Joshua Santos (2025-07-08)

“They’re having me on screen with my voice, which is purely fake, either advocating funds which I’m not running, since I’m not a fund manager in any event, and believe it or not, now they are having me on these sites, on video, advocating speculative penny stock picks, so it’s

DEATHS FROM TEXAS FLOODS EXCEED 100 WITH TOLL EXPECTED TO RISE

Bloomberg - Joe Lovinger (2025-07-08)

More than 100 people have been confirmed dead in floods that tore through central Texas over the weekend, marking a grim milestone as searchers used boats, dogs and drones to locate victims and authorities debated whether anything more could have been done to prevent the disaster. Confirmed

BANKS CHANNELED $385 BILLION INTO COAL INDUSTRY SINCE COP26

Bloomberg - Natasha White (2025-07-08)

Global banks channeled more than $385 billion to the coal power industry over the past three years, with annual flows increasing last year from 2023, according to analysis by a group of nonprofits. At

CANADA’S FISCAL PICTURE IS “CLOUDY,” DEFICIT MAY HIT $80 BILLION: BMO

Better Dwelling (2025-07-08)

“Canada’s fiscal picture is getting cloudy given that the current government did not table a post-election budget, and the cost platform has been rearranged by the evolving economic outlook and shifting policy priorities,” warns BMO senior economist Robert Kavcic.

SASK.'S MORTGAGE DELINQUENCY RATE IS HIGHEST AMONG PROVINCES, BUT IT'S GETTING WORSE IN ONT. AND B.C.

CBC - Aishwary Dudha (2025-07-08)

According to Equifax Canada, Saskatchewan had the highest mortgage delinquency rate (0.37

JANE STREET TO CHALLENGE INDIA BAN, SAYS IT ENGAGED IN BASIC ARBITRAGE

Reuters - Urvi Manoj Dugar and Chandni Shah (2025-07-08)

Jane Street has told staff it will contest a ban by India's financial regulator which has accused the U.S.

AUSTRALIA'S CENTRAL BANK STUNS MARKETS BY PASSING UP CHANCE TO CUT RATES

Reuters - Stella Qiu and Wayne Cole (2025-07-08)

Australia's central bank on Tuesday left its cash rate steady at 3.85%,

OSFI UPDATE ON CAPITAL REQUIREMENT FOR FEDERALLY REGULATED LIFE INSURERS

OSFI (2025-07-07)

Postponing the next revision of the Life Insurance Capital Adequacy Test (LICAT) Guideline from 2027 to a later date (post-2028).

FINANCIAL INDUSTRY FORUM ON ARTIFICIAL INTELLIGENCE II: A COLLABORATIVE APPROACH TO AI THREATS, OPPORTUNITIES, AND BEST PRACTICES, WORKSHOP 1 - SECURITY AND CYBERSECURITY

OSFI (2025-07-07)

The resulting report, “A Canadian Perspective on Responsible AI,” highlighted the need for financial institutions to adopt comprehensive risk management strategies to address the unique challenges posed by AI.

HAVE CREDIT CARDS MORPHED INTO A LIFESTYLE CHOICE?

G&M - Barry Choi (2025-07-07)

Mastercard holders could enter a contest on Priceless.com,

WEALTH ONE BANK GETS NEW LIFE AS CANADIAN INVESTOR GROUP CLOSES DEAL

Bloomberg - Christine Dobby (2025-07-07)

Canadian investment firm Globalive Corp.

CRYPTO, STARTUPS AND BANKING MAKE A SCARY MIX

Bloomberg - PAUL J. DAVIES (2025-07-07)

The next must-have accessory for crypto and tech bros looks to be far less sexy than a Lamborghini — it’s a banking license.

CHINA’S PBOC KEEPS BUYING GOLD AS RESERVES GROW FOR EIGHTH MONTH

Bloomberg - Sybilla Gross (2025-07-07)

China added to its official gold reserves for an eighth straight month in June, as prices of the precious metal traded near a record high. Bullion

ELON MUSK SAYS HE IS LAUNCHING NEW POLITICAL PARTY

BBC - Sean Seddon & Stuart Lau (2025-07-07)

Musk was until recently a core supporter of Trump, dancing alongside him during election rallies last year and bringing his four-year-old son to meet Trump in the Oval Office.

TORONTO HOME SALES CLIMB FOR THIRD STRAIGHT MONTH AS BUYERS GAIN LEVERAGE OVER SELLERS

G&M (2025-07-04)

Toronto home sales rose 8.1

BROOKFIELD SELLS US$690-MILLION IN PRIVATE-EQUITY STAKES TO SET UP FUND TARGETING WEALTHY INVESTORS

G&M (2025-07-04)

The private-equity arm of Brookfield Asset Management Ltd.

FINANCIAL WATCHDOG FINES CANACCORD GENUITY FOR FAILURES IN ANTI-MONEY LAUNDERING CONTROLS

G&M (2025-07-04)

Canada’s financial crime watchdog has imposed a $544,500 penalty on Canaccord Genuity Inc.

AIMCO INTERIM CEO COULD EARN MILLIONS IN BONUS PAY AFTER LEADERSHIP OVERHAUL

G&M - James Bradshaw (2025-07-04)

Alberta Investment Management Corp.’s

EIGHT LESSONS LEARNED IN 27 YEARS OF COVERING PERSONAL FINANCE AND INVESTING

G&M (2025-07-04)

The modern-era reference period for economic hardship is the early 1980s, when interest rates soared into the double digits to fight inflation and the economy was weak.

JANE STREET CURBED IN INDIA AFTER $4.3 BILLION TRADING GAIN

Yahoo Finance (2025-07-04)

The Securities and Exchange Board of India said it would seize 48.4

HOME INSURANCE RATE TRANSPARENCY NEEDED AS EXTREME WEATHER COSTS RISE: COMPLAINT

BNN (2025-07-04)

The lack of information on the risks means regulators should be pushing more to have flood risk maps made public, said Taylor.

FACTORING IN THE HIDDEN COSTS OF BUY NOW PAY LATER

BNN (2025-07-04)

TransUnion said it's still in the development stage of figuring out how to integrate BNPL data, including creating a separate section on credit reports to reflect the unique nature of these products, said spokeswoman Hyunjoo Kim.

JPMORGAN NAMES NEW HEADS IN EUROPE EQUITY CAPITAL MARKETS

Bloomberg (2025-07-04)

JPMorgan Chase & Co.

TORONTO NEW HOME SALES FALL TO RECORD LOW, JUST 42 CONDOS SOLD IN THE CITY

Better Dwelling (2025-07-04)

Greater Toronto new home prices are still trending lower, but one segment showed signs of firming.

OUT-OF-PROVINCE INSURANCE ADVISORS APPLYING FOR ONTARIO LICENSING CAN GET TO WORK FASTER

Investment Executive (2025-07-04)

Under the legislation, once an applicant provides the Financial Services Regulatory Authority of Ontario (FSRA) with proof of their valid out-of-province licence, the regulator is required to provide them with a notice of receipt “within 10 business days and in accordance with the regulations.”

HOW TRUMP GOT HIS ‘BIG, BEAUTIFUL BILL’ ACROSS THE FINISH LINE

WSJ (2025-07-04)

A handful of House Republican holdouts were unhappy with provisions in Trump’s signature bill.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

CANADA IS BUILDING LOTS OF RENTAL HOUSING – AND LOSING INTEREST IN CONDOS

G&M - Matt Lundy (2025-07-18)

Despite a challenging economic environment, national housing starts have held up a lot better than gloomy predictions from analysts.

POWELL DEFENDS $2.5 BILLION FED RENOVATION IN LETTER TO WHITE HOUSE

Yahoo Finance (2025-07-18)

Jerome Powell offered his first detailed defense of a $2.5

THE NEXT FED CHAIR'S DILEMMA: MAINTAIN FED INDEPENDENCE WHILE PLEASING TRUMP

Yahoo Finance (2025-07-18)

Even if the president doesn't remove Powell before his term is up in 10 months, Trump has made it clear that he wants the next Fed boss to do what he wants: bring interest rates down.