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.

NEW CONDO SALES IN THE TORONTO AREA HIT 15-YEAR LOW

G&M - Rachelle Younglai (2024-08-23)

The slowdown has imperilled the construction of homes at a time when governments are trying to spur more building in a bid to make housing more affordable.

CENTRAL BANK DIGITAL CURRENCY AND TRANSMISSION OF MONETARY POLICY

BOC - Saroj Bhattarai, Mohammad Davoodalhosseini, Zhenning Zhao (2024-07-26)

How does the transmission of monetary policy change when a central bank digital currency (CBDC) is introduced in the economy? Do aspects of CBDC design, such as how substitutable it is with bank deposits and whether it is interest bearing, matter? We study these questions in a general equilibrium model

AFTER $500-MILLION LOBLAW PRICE-FIXING SETTLEMENT, LAWYERS SET SIGHTS ON OTHER INDUSTRY PLAYERS

G&M - SUSAN KRASHINSKY ROBERTSON (2024-07-26)

The defendants in the Ontario case are Canada Bread Co.

HOW DO DONALD TRUMP AND THE MAGA MOVEMENT WANT TO REMAKE THE U.S. ECONOMY?

G&M - Tony Keller (2024-07-26)

The far-left’s long-standing criticisms of globalization are partly shared by MAGA.

FACING HIGH INTEREST RATES, SMALL BUSINESSES ARE SELLING OWNERSHIP STAKES TO GET BY

G&M - Daryl Ching (2024-07-26)

After a fairly stable interest rate environment following the 2008-09 financial crisis, rates have climbed dramatically in a short time frame – resembling a hockey stick graph.

TRUDEAU PLEDGED TO SLOW IMMIGRATION. THE BANK OF CANADA HAS DOUBTS

BNN (2024-07-26)

The bank’s latest estimates in its July monetary policy report show population growth decelerating at a slower pace than it had previously expected, reaching 1.7%

BANK OF CANADA GOVERNOR TIFF MACKLEM SAYS THE CENTRAL BANK'S 'BALANCE OF WORRIES IS SHIFTING'

FP - Jordan Gowling (2024-07-26)

“I think what we really tried to signal is that the balance of worries is shifting.

BANK OF CANADA SWITCHES TO 'RISK MANAGEMENT' MODE

FP - Larysa Harapyn (2024-07-26)

Derek Burleton, deputy-chief economist for TD Bank Group, talks with the Financial Post’s Larysa Harapyn about how the Bank of Canada may have to cut interest rates quicker than we thought because the economy has taken a turn for the worse.

WHY BRIGHTER DAYS ARE AHEAD FOR MORTGAGE SHOPPERS

FP - Robert Mclister (2024-07-26)

Case in point: The Bank of Canada just gave mortgagors another housewarming present by way of its 25 basis point rate cut.

SEVEN BANKS SHARE DATA WITH UK LAW ENFORCEMENT IN 'DIRTY MONEY' CRACKDOWN

Reuters - irstin Ridley and Sinead Cruise (2024-07-26)

The NCA, a top investigator, says the project went live in May, included voluntary data sharing deals with Santander (SAN.MC),

NATWEST BUYS $3 BLN METRO BANK MORTGAGE PORTFOLIO, UPGRADES 2024 OUTLOOK

Reuters - Lawrence White and Yadarisa Shabong (2024-07-26)

For Metro Bank, it represents a much needed injection of cash.

CANADIAN REAL ESTATE FACES THE WORST MARKET SINCE 90S RECESSION: CIBC

Better Dwelling (2024-07-26)

Compounding the issue is the existing home glut for condo apartments.

CANADIANS’ GLOOMY OUTLOOK COULD STALL ECONOMIC GROWTH, PROMOTE PARALYSIS

Investment Executive - James Langton (2024-07-26)

Based on sentiment readings, such as the Conference Board of Canada’s confidence index and Bloomberg’s Economic Mood Index, Canadians haven’t been this unhappy since the global financial crisis, the report noted.

LONG-TERM REPO SET FOR BIGGER ROLE IN BOE OPERATIONS

Central Banking (2024-07-25)

The Bank of England (BoE) is planning greater use of long-term repurchase operations to set monetary policy as part of an ongoing shake-up of its reserves framework.

HAS THE INFLATION PROCESS BECOME MORE PERSISTENT? EVIDENCE FROM THE MAJOR ADVANCED ECONOMIES

Andrea De Michelis, Grace Lofstrom (2024-07-25)

We find that inflation persistence has broadly risen after the pandemic.

MITIGATING TOO BIG TO FAIL

Federal Reserve - Wayne Passmore (2024-07-25)

Financial institutions that are "Too-Big-to-Fail" impede proper market functioning in financial services.

BANK OF CANADA CUTS KEY RATE TO 4.5%, TEES UP ADDITIONAL EASING WITH FOCUS ON DOWNSIDE RISKS

G&M - Mark Rendell (2024-07-25)

The widely anticipated move brings the bank’s policy rate to 4.5

DELTA STILL STRUGGLING AFTER CROWDSTRIKE OUTAGE, CANCELLING HUNDREDS MORE FLIGHTS MONDAY

CBC (2024-07-25)

Delta has operations in five Canadian airports, with cancellations of a few departures and arrivals from New York City and Atlanta already logged for Monday at the main airports in Toronto and Montreal.

INSURED LOSSES FROM CROWDSTRIKE OUTAGE COULD REACH $1.5 BILLION, CYBERCUBE SAYS

Yahoo Finance (2024-07-25)

Insurer Parametrix this week estimated insured losses from the outage of $540 million to $1.08

CHINESE BANKS CUT DEPOSIT RATES TO RELIEVE SQUEEZED LENDING MARGINS

Yahoo Finance (2024-07-25)

Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China, China Construction Bank, Bank of China and Bank of Communications cut deposit rates by 5 to 20 basis points, according to statements on their websites.

ROSENBERG SAYS BOC’S RATE CUT WAS ‘100% THE RIGHT MOVE,’ PREDICTS MORE TO COME

BNN (2024-07-25)

Rosenberg argued that according to the bank’s own forecast, Canada’s economy will remain in a state of excess capacity for at least the next two years, which will lead to inflation and interest rates falling “much more than I think the markets have priced in.”

THE FED MAY BE TWO MEETINGS AWAY FROM A POLICY MISTAKE

Bloomberg - Mohamed A. El-Erain (2024-07-25)

The US inflation rate, which had surged to over 9% two years ago, is now around 3%.

SCOTIABANK SEES BANK OF CANADA RATE AT 4% BY END OF 2024

FP - Larysa Harapyn (2024-07-25)

Derek Holt, vice-president and head of capital markets economics at the Bank of Nova Scotia, talks with Financial Post’s Larysa Harapyn about how the Bank of Canada‘s policy interest rate will be at four per cent by the end of 2024.

HOW BANK OF CANADA'S RATE CUT WILL AFFECT REAL ESTATE MARKETS, ACCORDING TO EXPERTS

FP - Denise Paglanawan (2024-07-25)

Fixed mortgage rates, which remain much lower than variables, are offered for well below five per cent.

LLOYDS PROFIT SLIDES 14% AS SLOW ECONOMY AND RISING COSTS BITE

Reuters - Lawrence White and Sinead Cruise (2024-07-25)

Analysts had expected Britain's biggest mortgage lender to report statutory pretax profit of 3.21

US NEW HOME SALES SURPRISE LOWER, INVENTORY RISES TO RARELY SEEN LEVEL

Better Dwelling (2024-07-25)

New home sales fell much more sharply than the market had expected.

CREDIT DOWNGRADES OUTNUMBER UPGRADES IN Q2

Investment Executive - James Langton (2024-07-25)

The overwhelming majority of downgrades in the second quarter were due to changes in the issuers’ financial profile, Fitch noted.

SHARES DROP IN US AND ASIA AS AI STOCKS SLIDE

BBC - Joao da Silva (2024-07-25)

In Wednesday's trading in New York, the S&P 500 lost 2.3%

REVOLUT SECURES UK BANKING LICENCE AFTER THREE-YEAR WAIT

Yahoo Finance (2024-07-25)

London-based Revolut has more than nine million UK customers and 45 million around the world, but it was still classified as an electronic money institution in the UK.

HOW PRIVATE EQUITY TANGLED BANKS IN DEBT

FT (2024-07-25)

Private equity firms have become an integral part of the global economy, owning everything from family homes to supermarkets and cosmetics companies — even hospitals. Assets

AMEX BENEFITS FROM YOUNG CARDHOLDERS’ SPENDING

Payments Dive - Patrick Cooley (2024-07-25)

https://www.paymentsdive.com/news/amex-young-cardholder-premium-spending-credit-card/722122/#:~:text=Gen%20Z%20and%20millennials%20are,of%20the%20credit%20card%20company.&text=American%20Express%20is%20increasingly%20relying,more%20money%20than%20other%20customers.

BEWARE THE ARTIFICIAL INTELLIGENCE TRAP BIG TECH IS SETTING

G&M - Neil Desai (2024-07-24)

But generative AI’s current business model is inherently problematic.

VISA REPORTS RARE QUARTERLY REVENUE MISS, SHARES DROP

G&M - ARASU KANNAGI BASIL (2024-07-24)

Visa’s third-quarter revenue growth fell short of Wall Street targets in a rare miss for the world’s largest payments processor as steep borrowing costs limited consumer spending, sending its shares down 4.6

WHAT A BANK OF CANADA RATE CUT ON WEDNESDAY COULD MEAN FOR YOUR MORTGAGE

Yahoo Finance - Farhan Devji (2024-07-24)

Barring a rare deviation, banks will then reduce their own “prime” lending rates by the same percentage, from 6.95

BANK OF CANADA EXPECTED TO DELIVER SECOND CONSECUTIVE RATE CUT TODAY

Yahoo Finance (2024-07-24)

Last week, Statistics Canada reported the annual inflation rate ticked back down to 2.7

DEUTSCHE BANK'S PROFIT STREAK ENDS WITH BIG LAWSUIT PROVISION

Yahoo Finance - Tom Sims and Matthias Inverardi (2024-07-24)

Deutsche Bank posted its first loss in four years in the second quarter after setting aside 1.3

AFRICAN NATIONS TURN TO GOLD TO PROTECT AGAINST CURRENCY LOSSES

Yahoo Finance - Ray Ndlovu and Okech Francis (2024-07-24)

“As a diversification strategy, that makes some sense,” said Charlie Robertson, head of macro strategy at FIM Partners.

EX-BANKER BEHIND $1.7 TRILLION JAPAN RALLY SAYS IT’S JUST STARTING

Bloomberg (2024-07-24)

The man who helped spark a nearly $2 trillion rally in Japanese stocks says the rebound is just getting started. Hiromi

CHINA AND RUSSIA ARE BREAKING THE WORLD INTO PIECES

Bloomberg (2024-07-24)

Over time, countries that disliked a system rooted in liberal values and US leadership grew more aggressive in their challenges: Russia invaded its neighbors Georgia and Ukraine, China claimed and incrementally conquered much of the South China Sea; Iran sowed chaos in the Middle East.

OPEN BANKING NEEDS BETTER RISK CONTROLS TO ENSURE FINTECHS KEEP YOUR MONEY SAFE

FP - John Turley-Ewart (2024-07-24)

Recall that Freeland’s April budget announced a legislative framework for introducing open banking this fall, a long-awaited initiative that could eventually change how Canadians bank.

CAPITAL ONE PROFIT DROPS 61% AS IT STOCKPILES MORE MONEY FOR LOAN LOSSES

Reuters - Makailah Gause (2024-07-24)

"In this high interest rate environment, the cost of new borrowing has gone up" for mortgages, auto loans and credit cards, he said, adding that this has stretched some borrowers, but that "consumers are in reasonably good shape." Capital

VISA PREVENTED $40 BLN WORTH OF FRAUDULENT TRANSACTIONS IN 2023- OFFICIAL

Reuters (2024-07-24)

In 2025, cybercrime is projected to cost the world $10.5

FUND DEALER COMPLAINTS DROP, BANK GRIPES UP: OBSI

Investment Executive - James Langton (2024-07-24)

Inquiries involving banks, which accounted for about three-quarters of complaints, were also up 7% in the quarter.

TWO-THIRDS OF CANADIANS ‘DESPERATELY’ NEED INTEREST RATES TO GO DOWN, MNP SURVEY SHOWS

G&M (2024-07-23)

A new survey says the Bank of Canada’s recent interest rate cut did little to change Canadians’ negative perceptions about their personal finances. The

POPULATION GROWTH ‘MASKED’ CANADA’S ‘RECESSION-LIKE ECONOMIC BACKDROP’: RBC

BNN - Daniel Johnson (2024-07-23)

Additionally, the report noted that for six of the past seven quarters, real per-person output has fallen alongside rising unemployment.

BOE SET TO GIVE LABOUR A REALITY CHECK OVER UK GROWTH PLANS

BNN - Philip Aldrick (2024-07-23)

Over the weekend, she hinted that she was prepared to boost spending by granting above-inflation pay rises to teachers and National Health Service staff amid reports that the official pay review bodies have suggested increases of 5.5%

DOCUMENTS SHOW HOW MUSK’S X PLANS TO BECOME THE NEXT VENMO

Bloomberg (2024-07-23)

A major plank of Elon Musk’s plan for expanding X into an “everything app” has been grafting a payments network onto its main social networking service.

'THE LACK OF AFFORDABILITY IS PINCHING:' BANK OF CANADA EXPECTED TO CUT WEDNESDAY AMID SIGNS OF SOFTENING ECONOMY

FP - Jordan Gowling (2024-07-23)

The unemployment rate jumped to 6.4

WHAT TO KNOW ABOUT INSURANCE CLAIMS AFTER FLASH FLOOD IN ONTARIO

FP (2024-07-23)

And after Tuesday’s intense bout of flash flooding in southern Ontario, some residents may be finding out the hard way that their insurance doesn’t cover flooding — and will be rushing to add that optional coverage to their policy for the future. “If

SCOTIABANK SEES BANK OF CANADA RATE AT 4% BY END OF 2024

FP (2024-07-23)

Derek Holt, vice-president and head of capital markets economics at the Bank of Nova Scotia, talks with Financial Post’s Larysa Harapyn about how the Bank of Canada‘s policy interest rate will be at four per cent by the end of 2024.

WITH NO BIG DEAL SAFE, INVESTMENT BANKERS MOVE TO SAFEGUARD FEES

Reuters - Anirban Sen (2024-07-23)

Investment bankers are changing how they ask to be paid in a bid to preserve and boost fee revenue they generate from advising companies on mergers and acquisitions, as more big deals face challenges by regulators. Many

EUROPEAN BANKS' EARNINGS IN SPOTLIGHT AFTER BIG SHARE PRICE GAINS

Reuters (2024-07-23)

Europe's biggest banks report their second-quarter earnings this week, with all eyes on whether the gains from higher interest rates have run out of steam and if recent political drama is weighing on sentiment. The

CANADIAN WAGES TO SLOW AS MARKET ABSORBS EXCESS LABOR: BMO

Better Dwelling (2024-07-23)

“After a few years of serious shortages and capacity constraints, we’ve tipped in the other direction,” explains Robert Kavcic, a senior economist at BMO.

DON’T REIMPOSE FOREIGN ASSET LIMITS ON REGISTERED PLANS, IFIC TELLS FEDS

Investment Executive - Rudy Mezzatta (2024-07-23)

The consultation concerned simplifying and modernizing the definition of “qualified investments,” which are those allowed in RRSPs, RRIFs, TFSAs, RESPs, registered disability savings plans (RDSPs), first home savings accounts and deferred profit sharing plans.

BANK OF CANADA EXPECTED TO CUT INTEREST RATE AGAIN ON WEDNESDAY AS INFLATION EASES

G&M - Mark Rendell (2024-07-22)

The Bank of Canada is expected to deliver a second dose of interest-rate relief this week, as inflation moderates and economic growth remains sluggish. The

‘BLUE SCREEN OF DEATH’ CAUSED BY FAULTY CROWDSTRIKE CYBERSECURITY UPDATE THROWS WORLD INTO CHAOS

G&M (2024-07-22)

It was supposed to be a basic content update, the kind of digital missive that software companies routinely send to customers to provide the latest features and fix bugs. But

KAMALA HARRIS RAKES IN ENDORSEMENTS AFTER BIDEN ENDS BID FOR RE-ELECTION

Yahoo Finance (2024-07-22)

President Biden dropped out of the 2024 presidential race, endorsing Vice President Kamala Harris to replace him as the Democratic nominee.

BIGGEST INDIA FUND SEES BUDGET ARMING CENTRAL BANK WITH LIQUIDITY TOOL

Yahoo Finance - Ronojoy Mazumdar (2024-07-22)

“Rather than selling long bonds from their book and distorting the market, you can issue short-term government securities,” Rajeev Radhakrishnan, chief investment officer for fixed income at SBI Funds Management Ltd.,

U.S. PRESIDENT JOE BIDEN STEPS ASIDE AS DEMOCRATIC CANDIDATE, ENDING RE-ELECTION BID

BNN (2024-07-22)

U.S.

SECRET BANK RATINGS SHOW US REGULATOR’S CONCERN ON HANDLING RISK

Bloomberg - Hannah Levitt and Katanga Johnson (2024-07-22)

A key US regulator has privately found half of the major banks it oversees have an inadequate grasp of a broad swath of potential risks from cyber attacks to employee blunders, according to people familiar with the matter. In

WHY THE ‘BANKER TO THE POOR’ MAY FACE LIFE IN PRISONWHY THE ‘BANKER TO THE POOR’ MAY FACE LIFE IN PRISON

Bloomberg (2024-07-22)

Muhammad Yunus is a Nobel laureate, the father of microfinance and a friend to the world's most powerful and famous.

CANADA’S CMHC INTERNAL MESSAGES SHOW HOUSING SUPPLY NARRATIVE IS BS

Better Dwelling (2024-07-22)

Higher prices are often blamed on population growth, especially in Canada with its recent record surge since 2022.

MORTGAGE GROWTH ACCELERATES IN MAY: STATCAN

Investment Executive - James Langton (2024-07-22)

Mortgage debt drove the growth in household debt, rising by 0.3%,

BIG BANKS MUST BOOST CAPITAL UNDER NOW-DELAYED REFORM

Investment Executive - James Langton (2024-07-22)

“The Canadian banks will likely use a combination of various tools to manage heightened capital requirements” such as raising equity, curbing dividends, selling non-core assets, or optimizing their balance sheets through synthetic/credit risk transfers and loan sales, the rating agency said.

'IT REMAINS TOUGH GOING:' BANK OF CANADA WILL HAVE TO KEEP CUTTING TO PERK UP WEARY CONSUMERS, ECONOMISTS SAY

FP - Gigi Suhanic (2024-07-22)

St-Arnaud doesn’t think the outlook will change anytime soon despite a second widely expected cut to interest rates by the Bank of Canada.

TROUBLE IN CONDO LAND: WILL 30-YEAR AMORTIZATIONS MOVE THE NEEDLE ON THE HOUSING CRISIS?

FP - Shantaé Campbell (2024-07-22)

Riz Dhanji, founder and president of Toronto-based pre-construction marketing firm, RAD, explains that “sticker shock” and elevated interest rates have brought sales to a screeching halt. “Obviously

EUROPEAN BANKS' EARNINGS IN SPOTLIGHT AFTER BIG SHARE PRICE GAINS

Reuters - Tommy Reggiori Wilkes , Tom Sims and Stefania Spezzati (2024-07-22)

JP Morgan analysts said European banks' sensitivity to rates remains low along with the proportion of customers shifting cash to higher paying accounts and they expect the amount banks earn from loans minus what they pay on deposits - net interest income (NII) - to remain strong. Still,

US REGIONAL BANKS' Q2 PROFITS SQUEEZED BY DEPOSIT COSTS, TEPID LOAN DEMAND

Reuters - Manya Saini (2024-07-22)

Several U.S.

CAPITAL ONE, COMMUNITY GROUPS SQUARE OFF IN PUBLIC MEETING ON DISCOVER DEAL

Reuters - Michelle Price and Pete Schroeder (2024-07-22)

Capital One (COF.N),

BOE’S HIGH-VALUE PAYMENT SYSTEM HIT BY ‘GLOBAL PAYMENTS ISSUE’

Central Banking - Daniel Hinge (2024-07-20)

The UK faced delays to high-value payments today (July 18) after a key payment system operated by the Bank of England (BoE) was hit by a “global payments issue”.

VARIABLE-RATE BORROWERS POISED TO CATCH ANOTHER BREAK FROM BANK OF CANADA

FP (2024-07-19)

A quarter-point snip would be proof positive from the central bank that last month’s cut wasn’t just a tease.

TRUDEAU URGED CARNEY TO JOIN HIS GOVERNMENT, GLOBE AND MAIL REPORTS

FP - Zoe Ma and Derek Decloet (2024-07-19)

To be a member of the government, Carney would eventually need to have a seat in Canada’s House of Commons.

FIRED CITIGROUP BANKER SAYS COO INTENDED TO DECEIVE REGULATOR ON BANK'S METRICS

Reuters (2024-07-19)

Kathleen Martin said Chief Operating Officer Anand Selva "wanted to misreport Citi's metrics to deceive" the Office of the Comptroller of the Currency into believing the bank was complying with its $400 million settlement agreement in 2020 addressing risk management shortfalls. Martin's

UK CLEARS NATIONWIDE BUILDING'S $3.75 BLN VIRGIN MONEY DEAL

Reuters (2024-07-19)

Britain's competition regulator said on Friday it has cleared Nationwide Building Society's (NBS.L),

INDIA'S PAYTM POSTS BIGGEST LOSS SINCE LISTING ON BANKING UNIT WIND DOWN

Reuters (2024-07-19)

India's Paytm (PAYT.NS),

CANADIAN CONDO PRICES ARE FALLING AGAIN, CLOSE TO A CORRECTION

Better Dwelling (2024-07-19)

Condos might be running out of luck soon.

GREENWASHING, GREENHUSHING AND GREENWISHING: THE NEW SUSTAINABLE FINANCE LINGO

Investment Executive - Noushin Ziafati (2024-07-19)

As Koskinen explained, greenwashing was a niche issue until 2022, when cases began making more frequent headlines in Europe, the U.S.

ONTARIO PROPOSES NEW PENSION SOLVENCY TEST

Investment Executive - James Langton (2024-07-19)

“Implementing a permanent funding concerns test for listed [plans] would strengthen the pension regulatory framework in Ontario, supporting timely actions by plan boards in case of plan funding deficiencies,” the government said in a notice detailing the proposals.

FRANCE’S NATIONAL ASSEMBLY ELECTS MACRON’S CHOICE AS ITS HEAD

FT - Leila Abboud and Victor Mallet (2024-07-19)

French President Emmanuel Macron’s candidate for head of the National Assembly was re-elected to the post on Thursday, suggesting his centrist supporters have a chance of forming a new government despite being defeated in recent elections. Yaël

BANKS RISK COMING LATE TO THE PRIVATE CREDIT PARTY

FT - Roula Khalaf (2024-07-19)

It makes perfect sense for banks to team up with private credit providers, at least on the face of it.

THE BEST TIME TO TAKE OUT A 3-YEAR MORTGAGE WAS A YEAR AGO. HERE’S HOW TIMES HAVE CHANGED

G&M - Penelope Graham (2024-07-19)

A common strategy over the past year has been to take out a fixed-rate mortgage with a shorter term.

BANK REGULATOR LOWERS WESTPAC’S CAPITAL PENALTY ON RISK PROGRESS

Yahoo Finance - Adam Haigh (2024-07-19)

The Australian Prudential Regulation Authority lowered the A$1 billion ($671 million) capital add-on that was applied to Westpac by A$500 million, according to a statement Friday.

CANADA’S FINANCE MINISTER IS UPBEAT ON ECONOMY AMID CARNEY REPORTS

Yahoo Finance - Erik Hertzberg and Derek Decloet (2024-07-19)

Exactly how long Freeland will be left in place to handle the finances of the world’s 10th-largest economy is a question mark, after media reports that Trudeau has had conversations with Mark Carney, the former governor of the Bank of Canada and Bank of England, about entering the government.

AI HAS A LOT OF FANS IN BUSINESS. BUT DOES IT ACTUALLY MAKE MONEY?

CBC - Andre Mayer (2024-07-19)

"Right now, what you've just got is a lot of followers in tech.

WHAT MORTGAGE OWNERS NEED TO KNOW ABOUT THE BANK OF CANADA RATE DECISION NEXT WEEK

BNN (2024-07-19)

“What I’m telling people is you need to make a decision based on your financial position today, not guessing where prime might go (or) might not go and be comfortable with whatever decision you’re going to make in this market as we see it today,” Sammut said.

BROOKFIELD REGISTERS A NEW BROKER-DEALER TO FUEL CREDIT DRIVE

BNN - Miles Weiss and Layan Odeh (2024-07-19)

Brookfield Credit, led by Craig Noble, is counting on the broker-dealer to expand into new areas, in part by participating as an underwriter in bond offerings, according to a person familiar with the matter, who asked not to be identified discussing confidential information.

SEVEN PERSONAL FINANCE CLIFFHANGERS TO WATCH IN NEXT WEEK’S BANK OF CANADA RATE ANNOUNCEMENT

G&M - Rob Carrick (2024-07-18)

Inflation unexpectedly blipped higher in May, raising concerns that the Bank of Canada might not cut rates on July 24.

CANADA’S HOUSING CRISIS IS FUELLING A POPULATION CRISIS

G&M - Jonah Prousky (2024-07-18)

Jonah Prousky is a management consultant and freelance writer who focuses on business, technology and society. Canadians

THIS INDICATOR FORESAW GOLDMAN SACHS'S 56% JUMP FROM THE LOWS

Yahoo Finance (2024-07-18)

15 months ago, on 03-18-2023, Goldman Sachs Group (NYSE:GS) traded at $303.54

TWO BANKS RALLY; DISCOVER CRUSHES VIEWS

Investors Business Daily (2024-07-18)

Discover (DFS) reported a 71% earnings spike to $6.06

CIBC SAYS BANK OF CANADA MUST END OR FIX QUANTITATIVE TIGHTENING

FP - Eerik Hertzberg (2024-07-18)

Canada’s central bank has been shrinking its balance sheet for more than two years, withdrawing the extraordinary stimulus it provided during the COVID-19 crisis.

CANADIAN PENSION FUNDS FACE MORE PRESSURE ON REAL ESTATE AND PRIVATE CREDIT, FITCH REPORT SAYS

G&M - James Bradshaw (2024-07-17)

Canada’s largest pension funds will likely take more losses on real estate and see defaults on private loans rise over the coming year, but have enough financial flexibility to mostly avoid having to sell assets at depressed prices, according to a report from Fitch Ratings Inc. A

ANNUAL PACE OF HOUSING STARTS IN CANADA DOWN 9% IN JUNE FROM MAY, CMHC SAYS

G&M (2024-07-17)

Canada Mortgage and Housing Corp.

AFRICAN ECONOMIES SEEN DELAYING JOINING CYCLE OF GLOBAL EASING

Yahoo Finance (2024-07-17)

“The broader theme is one of caution and data dependence with central banks closely monitoring inflation and currency trends,” said EY Africa Chief Economist Angelika Goliger.

NATIONAL BANK TO RAISE MORE EQUITY FOR CWB DEAL AFTER SHARES RECOVER

Yahoo Finance - Christine Dobby and Geoffrey Morgan (2024-07-17)

The Montreal-based lender struck a deal last month to buy Canadian Western in an all-stock transaction valued at C$5 billion at the time.

CFRA DOWNGRADES BANK OF AMERICA TO SELL

BNN - Ken Leon (2024-07-17)

Ken Leon, analyst and global director of research at CFRA, joins BNN Bloomberg to discuss investing strategy for U.S.

GLOOMY SURVEYS SUGGEST BANK OF CANADA MAY HAVE LEFT RATE CUTS TOO LATE

FP - Pamela Heaven (2024-07-17)

A rather gloomy outlook from the Bank of Canada‘s business and consumer surveys yesterday had some economists questioning whether the central bank might have waited too long to pull the trigger on interest rate cuts. The

HSBC HIRES FORMER UK POLITICIAN TO HEAD NEW INFRASTRUCTURE UNIT

Reuters - Simon Jessop and Tommy Reggiori Wilkes (2024-07-17)

Britain's HSBC (HSBA.L),

BASEL COMMITTEE TWEAKS RATE SHOCK RULES

Investment Executive (2024-07-17)

The changes are being adopted to accommodate the possibility of a near-zero interest rate environment, which has arisen during major market stress events such as the onset of the pandemic and the global financial crisis.

KLARNA LINES UP BANKS FOR LONG-PLANNED US LISTING

FT - Roula Khalaf (2024-07-17)

Swedish payments fintech Klarna is lining up financial advisers for a long-awaited initial public offering in the US that will be among the most anticipated listings in recent years, according to people familiar with the matter. Morgan

WALL STREET REPORTS BEST QUARTER FOR INVESTMENT BANKING IN 2 YEARS

FT - Joshua Franklin and Stephen Gandel (2024-07-17)

Wall Street has posted its best quarter for investment banking in more than two years, in what bankers said were the “early innings” of a sustained recovery. The

THE SALE OF STELCO CONTINUES BILLION-DOLLAR WINDFALL FOR ITS OWNERS, CEO

G&M - David Milstead (2024-07-16)

The sale of Stelco Holdings Inc.

DOWNBEAT BANK OF CANADA BUSINESS AND CONSUMER SURVEYS RAISE ODDS OF SECOND RATE CUT

G&M - Mark Rerndell (2024-07-16)

Downbeat businesses and consumers expect the Canadian economy to remain in the doldrums and inflation to continue to decline, according to a pair of Bank of Canada surveys published Monday, bolstering the case for another interest-rate cut at the central bank’s next rate announcement on July 24. The

STRIPE VALUATION HITS $70BN

Finextra (2024-07-16)

Sequoia, which first invested in payments giant Stripe 14 years ago, has emailed limited partners in funds raised between 2009 and 2012, offering to buy up to $861 million in shares at $27.51

G7 GOVERNMENT DEBT: THE NEXT MARKET HOT SPOT?

Reuters - Yoruk Bahceli and Dhara Ranasinghe (2024-07-16)

Huge debt piles among the world's biggest economies are starting to unnerve financial markets again, as elections cloud the fiscal outlook. French

EURO ZONE HOUSEHOLDS SEEK LOANS AGAIN AFTER TWO YEARS

Reuters (2024-07-16)

Euro zone households are applying for loans in growing numbers for the first time in two years as they grow more optimistic about the economy and interest rates fall, a European Central Bank survey showed on Tuesday. The

HSBC LAUNCHES NEW CLIMATE-FOCUSED INFRASTRUCTURE FINANCE UNIT

Reuters - Simon Jessop and Tommy Reggiori Wilkes (2024-07-16)

HSBC Infrastructure Finance (HIF) will target "a meaningful share" of both in key markets, and incorporate parts of the bank's Global Banking Real Asset Finance team, which includes infrastructure finance, export finance and portfolio management, a memo sent to staff by Greg Guyett, HSBC's CEO of Global Banking & Markets,

CANADIAN FIRMS KEEP INVESTMENTS IN CHECK DESPITE RATE CUT EXPECTATIONS

Yahoo Finance - Promit Mukherjee, Ismail Shakil (2024-07-16)

Canadian businesses expect interest rates to come down by as much as 100 basis points over the next year but their willingness to invest is below average due to a weak demand outlook, the Bank of Canada said on Monday in its second-quarter survey. Most

POWELL AND TRUMP COMMAND MARKET ATTENTION

Yahoo Finance (2024-07-16)

Fed Chair Jerome Powell's sort of dovish comments have cemented an interest rate cut in September, at least in markets' eyes, with the prospect of Donald Trump making a return to White House keeping trades associated with it in play and on investor minds. In

PBOC CASH INJECTION SPIKES AMID TAX PAYMENTS, RATE FOCUS

Yahoo Finance (2024-07-16)

The People’s Bank of China injected a net 674 billion yuan ($93 billion) via reverse repurchase operations on Tuesday.

VERSABANK APPOINTS SENIOR EXECUTIVES TO U.S. SUBSIDIARY AHEAD OF U.S. BANK ACQUISITION

VersaBank (2024-07-16)

"The appointments of these four experienced bank industry veterans establishes the senior team that will oversee our U.S.

GOLDMAN SACHS EARNINGS PROVE BANK STILL VERY CYCLICAL

Yahoo Finance - Julie Hyman and Josh Lipton (2024-07-16)

Among the Big Bank stocks, JPMorgan Chase & Co.

AI BOOM FADING? WHY IT SPENDING DATA MAY NOT BE ADD UP

Yahoo Finance - Josh Lipton and Julie Hyman (2024-07-16)

The buzz around AI has been palpable on Wall Street with much focus on its performance as tech giants like Nvidia (NVDA) led a rally with massive gains.

‘EXACTLY WHAT BOC IS LOOKING FOR’: ECONOMIST ON BUSINESS OUTLOOK SURVEY

BNN - Mitchell Consky (2024-07-16)

The central bank released the business outlook survey on Monday showing that business and consumer expectations for inflation are subdued.

GOLD INCHES CLOSER TO RECORD AS TRADERS BET ON FED RATE CUTS

Bloomberg - Sybilla Gross and Jack Wittels (2024-07-16)

Gold rallied toward a record as expectations for Federal Reserve rate cuts grow and traders ramp up bets on a second Donald Trump presidency. Spot

EUROPE CONSULTS ON CRYPTO CLASSIFICATION

Investment Executive - James Langton (2024-07-16)

The three European regulators — the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority — have issued a joint consultation paper that sets out proposed guidance and templates for classifying cryptoassets under its new regime, known as the Markets in Crypto-assets

INVESTORS SHOULD FOCUS LESS ON RATES AND MORE ON THE MONEY FLOWS

FT (2024-07-16)

Ongoing quantitative tightening — the reversal of massive central bank quantitative easing programmes to support economies since the financial crisis — ought normally to have reduced the level of reserves that commercial banks hold at central banks.

DEUTSCHE BANK FLOUTED INTERNATIONAL ACCOUNTING RULES, SAYS WATCHDOG

FT - Olav Storbeck (2024-07-16)

BaFin said the bank failed to disclose in 2019 that €2.1bn

CPPIB PRIVATE-EQUITY HEAD SAYS MARKET IS CHANGING TO MAKE DEALS MORE ATTRACTIVE

G&M - James Bradshaw (2024-07-15)

After two tough years for private equity, Hafiz Lalani sees a “very different market” taking shape this year, and a chance to make deals that could once again earn the kind of outsized returns the industry experienced before a rapid run-up in interest rates dramatically slowed the pace of deal-making. Perhaps

CANADA’S NEXT HOUSING CRISIS: WHO IS GOING TO BUILD MILLIONS OF NEW HOMES?

G&M (2024-07-15)

Canada finally has a plan.

INTERAC CEO WORKS TO MAKE PAYMENTS PROCESSOR MORE NIMBLE AFTER LONG DELAYS ON UPGRADE PROJECT

G&M - Stefanie Marotta (2024-07-15)

Canada is the only Group of 20 country without an updated payments system.

FUTURES RISE ON HIGHER ODDS OF TRUMP VICTORY AFTER SHOOTING

Yahoo Finance (2024-07-15)

Trump was shot in the ear on Saturday during a rally in Pennsylvania in what authorities were treating as an assassination attempt.

PING AN INSURANCE SEEKS $3.5 BILLION FROM CONVERTIBLE BOND SALE

Yahoo Finance - Filipe Pacheco and Julia Fioretti (2024-07-15)

Chinese firms have been turning to convertible bonds to raise funds at cheaper rates than traditional debt.

GEN Z IS SAVING MORE VIA 'LOUD BUDGETING' TREND. WHAT IS IT?

Yahoo Finance - Brad Smith (2024-07-15)

"They're really feeling the strains of the high cost of living, and it's really taking the toll because of their young age and because they're so early in their careers," Stephens explains.

USE ANY TOOLS OFFERED TO MONITOR CREDIT FOLLOWING TICKETMASTER DATA BREACH, SAYS EXPERT

CBC - Anis Heydari (2024-07-15)

Ticketmaster emailed customers on July 8 that it had discovered an "unauthorized third party" obtained information from a cloud database hosted by a third-party company between April 2 and May 18.

0% FINANCING ON A NEW CAR? DEALS ARE BACK — ON SOME MODELS

CBC - Danielle Nerman (2024-07-15)

"Three months ago we had a few too many Nissan Rogues," said Cheliadin.

GOOGLE NEARS $23 BILLION DEAL FOR CYBERSECURITY FIRM WIZ, WSJ REPORTS

BNN - Davey Alba (2024-07-15)

New York-based Wiz was valued at $12 billion during a May funding round that drew investors such as Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital.

GOLDMAN SACHS CHALLENGES RESULT OF FED STRESS TEST, FT SAYS

BNN - Leonard Kehnscherper (2024-07-15)

Goldman Sachs Group Inc.

WALL STREET PUSHES BACK AFTER ACTIVISTS ESCALATE PROTESTS

BNN - Alastair Marsh (2024-07-15)

At JPMorgan Chase & Co.,

BOE’S DHINGRA URGES OFFICIALS TO BACK INTEREST RATE CUTS

BNN - Tom Rees (2024-07-15)

“Now is the time to start normalizing so that we can then finally stop squeezing living standards the way we have been to try and get inflation down,” Dhingra said in an interview with the “Rest is Money” podcast released Monday.

BLACKROCK HITS $10.6 TRILLION ASSET RECORD, REPORTS ETF BOOST

Bloomberg - Silla Brush (2024-07-15)

BlackRock Inc.

WHY ‘PAYMENT-IN-KIND’ DEBT IS SO APPEALING — AND RISKY

Bloomberg (2024-07-15)

When private equity firms buy up target companies, they rely on one major source of financial firepower — debt, and lots of it.

JPMORGAN Q2 PROFIT JUMPS AS BANK CASHES IN VISA SHARES

FP - Ken Sweet (2024-07-15)

The nation’s biggest bank by assets on Friday posted a profit of US$18.15

ABCP POISED FOR COMEBACK IN CANADA: FITCH

Investment Executive (2024-07-15)

“The market does not anticipate that any single instrument will wholly replace BAs,” the report said.

NEW ZEALAND PRIME MINISTER VOWS TO NAME AND SHAME CHINA OVER SPYING

FT - DEMETRI SEVASTOPULO (2024-07-15)

Wellington wanted to increase vigilance across the business community about the threat — mirroring a strategy adopted by the US, UK, Canada and Australia, the premier added. He

EXCESSES OF CHEAP MONEY ERA ARE PROVOKING ‘CREDITOR-ON-CREDITOR VIOLENCE’

FT - William Cohan (2024-07-15)

Take, for instance, the tsunami of so-called cov-lite, or covenant-light, leveraged loans that investors flocked to with reckless abandon.

NEW CONDO SALES IN THE TORONTO AREA HIT 15-YEAR LOW

G&M - Rachelle Younglai (2024-08-23)

The slowdown has imperilled the construction of homes at a time when governments are trying to spur more building in a bid to make housing more affordable.

CENTRAL BANK DIGITAL CURRENCY AND TRANSMISSION OF MONETARY POLICY

BOC - Saroj Bhattarai, Mohammad Davoodalhosseini, Zhenning Zhao (2024-07-26)

How does the transmission of monetary policy change when a central bank digital currency (CBDC) is introduced in the economy? Do aspects of CBDC design, such as how substitutable it is with bank deposits and whether it is interest bearing, matter? We study these questions in a general equilibrium model

AFTER $500-MILLION LOBLAW PRICE-FIXING SETTLEMENT, LAWYERS SET SIGHTS ON OTHER INDUSTRY PLAYERS

G&M - SUSAN KRASHINSKY ROBERTSON (2024-07-26)

The defendants in the Ontario case are Canada Bread Co.

HOW DO DONALD TRUMP AND THE MAGA MOVEMENT WANT TO REMAKE THE U.S. ECONOMY?

G&M - Tony Keller (2024-07-26)

The far-left’s long-standing criticisms of globalization are partly shared by MAGA.