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.

UBS KEEPS LID ON CEO ERMOTTI'S PAY IN 2024 AMID TUSSLE ON REGULATION

Yahoo Finance (2025-03-17)

The pay package of UBS CEO Sergio Ermotti was 14.9

BANKS BOOM AND SHOPPERS SCRIMP A YEAR AFTER JAPAN’S RATE PIVOT

Yahoo Finance - Taiga Uranaka, Masaki Kondo and Haruka Iwai (2025-03-17)

The bank’s first rate hike in 17 years was followed by two more in the space of months, the swiftest pace since 1989, when it was at the peak of a “bubble economy” that burst shortly afterward.

WORLD’S BIGGEST STOCK ROUT DEEPENS AS THAI MARKET RESCUE FALTERS

Yahoo Finance (2025-03-17)

Seven months after $4.5

HOW 2 HEDGE FUND AWARD WINNERS DELIVER RETURNS

Investment Executive - Michelle Schriver (2025-03-17)

The fund comprises 20 to 25 names — companies with annual high-growth rates of about 20% and market capitalizations of $100 million to $5 billion.

CANADIAN BANK LAUNCHES VIDEOGAME TO TEACH KIDS MONEY MANAGEMENT SKILLS

Investment Executive - Jonathan Got (2025-03-17)

According to an October survey commissioned by TD, 86% of Canadian parents said that interactive games that teach finances, or animated videos explaining financial concepts, could make learning about finances more fun for kids.

BEST SEG FUNDS OF 2024 LEANED ON MAGNIFICENT 7

Investment Executive - Catherine Harris (2025-03-17)

Among seg families with $500 million in assets under management (AUM), CDSPI had the best investment performance — 88.9%

JUSTICE DEPARTMENT SUES VISA, ALLEGES ILLEGAL MONOPOLY IN DEBIT-CARD MARKET

WSJ (2025-03-17)

The Justice Department sued Visa for antitrust violations on Tuesday, alleging that the company used illegal tactics to maintain a monopoly in debit-card payments.

TRUMP DOUBLES DOWN ON MAKING U.S. ‘BITCOIN SUPERPOWER OF THE WORLD’

WSJ (2025-03-17)

President Trump hosted the first White House Crypto Summit a day after he signed an executive order to establish a government reserve for Bitcoin.

TRUMP SHOULD CREATE A SWF WITH FANNIE MAE AND FREDDIE MAC

FT - Ronald Kruszewski (2025-03-17)

A move by President Donald Trump to create a sovereign wealth fund for the US is a significant initiative that could bolster the financial stability of the nation. One

REVEALED – COMMERCIAL INSURED LOSSES IN CANADA IN 2024

G&M (2025-03-17)

“Thousands of businesses felt the impacts of severe weather last year.

BONSHOR NAMED INAUGURAL CHAIR OF THE INDIGENOUS LOAN GUARANTEE PROGRAM

G&M - Jameson Berkow (2025-03-17)

The new federal agency charged with administering a $5-billion Indigenous loan guarantee program has selected the first member of its leadership team. Michael

BANK OF CANADA WOULD NEED TO HIKE INTEREST RATES BY UP TO 1.25% IN FULL-BLOWN TARIFF WAR, WARNS OECD

Yahoo Finance - Gigi Suhanic (2025-03-17)

The OECD cut its growth forecast for Canada by more than half Monday, and predicted knock-on effects on inflation and interest rates that could result in the cost of borrowing rising and staying higher for longer if the country ends up facing 25 per-cent tariffs from the United States and

CANADIAN HOME SALES CRATER IN FEBRUARY AS TARIFF FEARS SHAKE MARKET

YKahoo - John MacFarlane (2025-03-17)

New listings dropped 12.7

ONTARIO’S ELECTRICITY EXPORTS MAY NOT BE THE BARGAINING CHIP THEY WERE FIRST THOUGHT TO BE

G&M - Matthew McClearn (2025-03-16)

Ontario Premier Doug Ford followed up his threats on energy exports this week by quickly retreating, demonstrating the limits of electron diplomacy. When

HUDSON’S BAY CO. MAY BE FORCED TO CLOSE ALL STORES

G&M - SUSAN KRASHINSKY ROBERTSON (2025-03-16)

Hudson’s Bay Co.

CENTRAL BANKING IN A TRADE WAR

G&M - MARK RENDELLE (2025-03-16)

Tiff Macklem says he isn’t following every social-media post Donald Trump puts on his website Truth Social.

YOUNG HOMEBUYERS SEEKING TO CLIMB THE PROPERTY LADDER ARE STUCK WITH HARD-TO-SELL CONDOS

G&M - Erica Alini (2025-03-14)

With lots of properties for sale, little competition and falling mortgage rates, now is a golden opportunity for young Canadians who feel secure in their jobs to purchase a house.

THE MARK CARNEY ERA BEGINS WITH PRIME MINISTER AND NEW CABINET SWORN IN TODAY

CBC - Catherine Tunney (2025-03-14)

The prime minister-designate is expected to form a leaner cabinet than his predecessor, with a laser focus on safeguarding Canada's economy during the trade war, negotiating with U.S.

EX-DEUTSCHE BANK MANAGER SUING FOR $165 MILLION IS SCHIRALDI

Yahoo Finance - Sonia Sirletti and Karin Matussek (2025-03-14)

In the original criminal case, Monte Paschi managers were accused of colluding with Deutsche Bank staff to hide losses at the Italian lender by using complex derivatives trades, leading to a misrepresentation of the firm’s finances between 2008 and 2012.

CHINA MULLS 50% PAY CUTS FOR UNDERPERFORMING FUND MANAGERS

Yahoo Finance (2025-03-14)

While China’s mutual fund industry continued to grow and attract global asset managers like Fidelity International Ltd.

BOFA SEES POLICY MOVES KEEPING STOCKS FROM ENTERING BEAR MARKET

Yahoo Finance - Sagarika Jaisignhani (2025-03-14)

The strategist recommended buying the S&P 500 (^GSPC) at 5,300 points, a drop of another 4% from Thursday’s close.

GOLD HITS RECORD JUST BELOW $3,000 AS INVESTORS PILE INTO HAVENS

Yahoo Finance (2025-03-14)

Spot gold climbed toward $2,994 an ounce, eclipsing the previous peak set on Thursday.

WHY FENTANYL IS AT CENTER OF THE US-CHINA TRADE FIGHT

BNN (2025-03-14)

According to a 2021 report by the US-China Economic and Security Review Commission, China, which has a large chemical industry, remains “the primary country of origin for illicit fentanyl and fentanyl-related substances trafficked into the United States.”

BEZOS-BACKED BANK TARGETS BRAZIL’S CRYPTO, TECH FIRMS

Bloomberg - Raphael Almeida Dos Santos and Daniel Cancel (2025-03-14)

Stark Bank SA, the Brazilian online-only bank backed by Bezos Expeditions, is looking to the country’s crypto startups as one of its focus areas this year, in a bet that a sector shunned by traditional lenders will bolster growth. The

CANADIAN HOUSEHOLD NET WORTH IS SOARING—BUT SO IS INEQUALITY

Better Dwelling (2025-03-14)

Despite the common narrative, it’s worth noting that falling interest rates tend to boost financial assets.

MNP ACQUIRES INSURANCE ADVISORY FIRM STERLING PARK

Investment Executive - Jonathan Got (2025-03-14)

“We’re excited to bring the Sterling Park team into the MNP fold,” Tanya Knight, executive vice-president of clients and services at MNP, said in a release on Thursday.

PROBITAS DELIVERS STRONG FINANCIAL RESULTS ON BACK OF AVIVA DEAL

Insurance Business - Josh Recamara (2025-03-14)

“2024 was another successful year for Probitas, delivering our best ever result,” said Antony Dodson, chief underwriting officer at Probitas.

VARIABLE-RATE MORTGAGES CONTINUE TO LURE BORROWERS, DESPITE THE RISKS

FP - Robert Mclister (2025-03-14)

I’d just remind folks to be aware of rising inflation expectations, which could combine with escalating tariffs, a weaker Canadian dollar and supply disruptions to fan the flames of inflation.

OPINION: HARPER SLAMS CARNEY FOR TAKING CREDIT FOR FLAHERTY'S WORK

FP - Brian Lilley (2025-03-14)

It’s another example of Carney being called out for false statements.

VARIABLE-RATE MORTGAGES CONTINUE TO LURE BORROWERS, DESPITE THE RISKS

FP - Robert Mclister (2025-03-14)

If bond market expectations are right, and unless the tariff bomb is diffused pronto, those with variable-rate mortgages will see another cut by the central bank at its next meeting, on April 16. This

WHY CANADA'S ECONOMY – AND REAL ESTATE INDUSTRY – THRIVE ON DIRTY MONEY

Mortgage Broker News - Candyd Mendoza (2025-03-14)

Money laundering has been a persistent issue in Canada, with estimates suggesting between $40 billion and $130 billion is laundered annually.

CIBC NAMES HARRY CULHAM ITS NEXT CEO AS VICTOR DODIG PLANS TO RETIRE IN OCTOBER

G&M - Andrew Willis (2025-03-13)

“This felt like the right time, with the right leadership team and the right captain ready to take over,” Mr.

INTEREST-RATE CUT WON’T MOTIVATE MANY BUYERS TO WADE INTO THE SLOW HOUSING MARKET, EXPERTS SAY

G&M - RACHELLE YOUNGLAI (2025-03-13)

The Bank of Canada’s latest interest-rate cut will help homeowners who are due to renew their mortgages.

REAL-ESTATE COMPANY COLLIERS GIVES CEO STOCK AWARDS VALUED AT US$48-MILLION AFTER CONCLUDING HE WAS UNDERPAID

G&M - David Milstead (2025-03-13)

Colliers International Group Inc.

TRUMP REPORTEDLY SET TO NAME MICHELLE BOWMAN AS FEDERAL RESERVE’S TOP FINANCIAL REGULATOR

G&M - CHRISTOPHER RUGABER (2025-03-13)

The Trump administration is expected to choose Federal Reserve governor Michelle Bowman to be the central bank’s top financial regulator, according to a person familiar with the decision who spoke on condition of anonymity. Bowman,

BANK OF CANADA CUTS INTEREST RATE, CALLING TRADE WAR WITH U.S. 'A NEW CRISIS' AND WARNING OF 'SEVERE' IMPACT

G&M - Alicja Siekierska, Jeff Lagerquist and John MacFarlane (2025-03-13)

BMO chief economist Douglas Porter wrote in a research note on Wednesday that future decisions will be guided by what happens in the trade war, “although we suspect the Bank was headed a bit lower in any event.”

CANADA'S COUCHE-TARD'S CHIEF STRESSES 'FRIENDLY' INTEREST IN JAPAN'S 7-ELEVEN CHAIN

G&M - Yuri Kageyama (2025-03-13)

Seven & i appointed a new chief executive this month and announced a share buyback and said it will sell its supermarket subsidiary to U.S.

3 CANADIAN BANK STOCKS TO SHIELD AGAINST MARKET DOWNTURNS

G&M - Amy Legate-Wolfe (2025-03-13)

However, it’s not all smooth sailing.

MORTGAGE BROKER SEES ONTARIO HOME PRICES ‘GRINDING DOWN’ AMID TRADE WAR

G&M - Daniel Johnson (2025-03-13)

Butler said he expects further declines in mortgage demand, which he says will impact real estate markets.

WHAT YOU NEED TO KNOW ABOUT U.S. TARIFFS ON STEEL AND ALUMINUM

BNN (2025-03-13)

A fresh wave of tariffs on steel and aluminum are set to kick in Wednesday (yesterday) after a back-and-forth day that saw U.S.

BANK OF CANADA SHOWS INFLATION WILL SHAPE TRADE WAR RESPONSE

Bloomberg - Eerik Hertzberg (2025-03-13)

The Bank of Canada made clear that central banks around the world are fighting an entirely different war than the pandemic — but post-Covid inflation fears are haunting policymakers as they try to protect their economies from US President Donald Trump’s tariff barrage. On

DUBAI’S BILLION-DOLLAR CRYPTO UNDERWORLD

Bloomberg (2025-03-13)

In 2024, the US charged crypto entrepreneur Sam Lee with running a $2 billion ponzi scheme called HyperVerse.

BANK OF CANADA CUTS RATES DESPITE EXPECTING A BIG INFLATION JUMP

Better Dwelling (2025-03-13)

The BoC is a single-mandate central bank, meaning its only focus should be inflation targeting.

CANADA TO IMPOSE 25% TARIFFS ON $29.8B IN U.S. GOODS STARTING THURSDAY

Investment Executive - David Baxter and Anja Karadeglija (2025-03-13)

LeBlanc said the new levies target $12.6

HIGHEST-PAID DEUTSCHE BANK EMPLOYEE IN LINE TO EARN NEARLY TWICE AS MUCH AS CEO

FT - Florian Muller (2025-03-13)

Deutsche Bank’s highest-paid employee could earn almost twice as much as chief executive Christian Sewing for 2024, as Germany’s largest lender boosted bonuses following a surge in investment banking profits. The

STALEY REFERRED TO EPSTEIN AS ‘UNCLE JEFFREY’ IN EMAIL TO DAUGHTER, COURT HEARS

FT - Ortenca Aliaj (2025-03-13)

In a tense hearing in London, during which Staley accused the Financial Conduct Authority of an “invasion” of his family’s privacy, the court heard that Epstein had mentored Alexa Staley and allegedly helped her apply to Columbia University, which Staley vigorously denied.  “I

UK FINANCIAL WATCHDOGS DROP DIVERSITY AND 'NAME AND SHAME' REFORMS

Reuters - Sinead Cruise (2025-03-13)

Britain's top financial regulators have scrapped proposed new rules to boost diversity and inclusion in the industry, and mothballed a fresh crackdown on non-financial misconduct, citing fears of imposing unnecessary regulatory burdens on firms. The

BNP PARIBAS BP REPORTS 132% SURGE IN FULL-YEAR NET PROFIT

Reuters (2025-03-13)

The financial year net profit at BNP Paribas' (BNPP.PA),

FORMER BARCLAYS CEO JES STALEY SLEPT WITH EPSTEIN ASSISTANT, COURT HEARS

Reuters - Sam Tobin (2025-03-13)

Former Barclays, opens new tab boss Jes Staley had sex with a member of serial paedophile Jeffrey Epstein's staff, the banker told a court on the third day of his evidence as he appeals against a proposed financial services ban. Britain's

EQUITABLE BANK ADVANCES INNOVATION AND INCLUSION IN CANADIAN BANKING IN LATEST PUBLIC ACCOUNTABILITY STATEMENT

Equitable (2025-03-12)

Maintained its position as Canada's largest securitizer of multi-unit residential buildings insured by the Canada Mortgage and Housing Corporation, funding $4.3

HOOPP, WITH HALF OF ASSETS IN CANADA, HAS NO PLAN TO RETREAT DESPITE TRADE CHAOS

G&M - David Milstead (2025-03-12)

The Healthcare of Ontario Pension Plan has invested more than half of its assets in Canadian holdings and that is not about to change despite the threatening economic climate, its leaders say. “We

BANK OF CANADA LIKELY TO CUT RATES 25 BPS TO CUSHION ECONOMY FROM TARIFFS

Yahoo Finance (2025-03-12)

If the BoC delivers the 25-basis-point cut, it will be the bank's seventh consecutive reduction, bringing down the policy rate to 2.75%,

WALL STREET'S HOPES FOR A 2025 IPO BONANZA ARE BEING PUT TO THE TEST

Yahoo Finance - David Hollerith (2025-03-12)

"The early IPOs that we have seen ...

UKRAINE-US ACCORD ON A CEASEFIRE PROPOSAL PUTS ONUS ON PUTIN

Yahoo Finance - Kateryna Chursina, Henry Meyer and Natalia Drozdiak (2025-03-12)

The accord reached in Saudi Arabia by US and Ukrainian negotiators for a 30-day halt in the conflict, which began with Russia’s full-scale invasion three years ago, now hinges on Vladimir Putin, who may have little incentive to abide by it.

STOCKS' SELL-OFF WORSENS AS WALL STREET WONDERS HOW MUCH PAIN TRUMP WILL ACCEPT FOR THE ECONOMY

Yahoo Finance - Stan Cloe (2025-03-12)

The S&P 500 dropped 2.7%

BOWMAN SEEN AS FRONT-RUNNER FOR FED’S TOP BANKING COP

WSJ - Nick Timiroas (2025-03-12)

Advisers to President Trump have indicated to allies in recent days that Federal Reserve governor Michelle Bowman is the front-runner to serve as the central bank’s top cop on banking issues, according to people familiar with the matter. Some

CARNEY’S WIN KILLS LIBERALS’ MUCH-DELAYED PLAN TO CHANGE CAPITAL GAINS TAX

Investment Executive - Craig Lord (2025-03-12)

In his victory speech on Sunday, Carney confirmed he will stop the capital gains changes proposed by the current Liberal government last April, making good on a campaign pledge.

GOLDMAN SACHS MANAGING DIRECTOR SCOTT RUBNER LEAVES FIRM, SOURCE SAYS

Reuters (2025-03-12)

Scott Rubner, a managing director in the derivatives sales and macro execution team at Goldman Sachs, opens new tab, has left the investment bank, a source familiar with the matter told Reuters on Monday. Rubner

CARNEY'S ACCOUNTING TRICK SHOULD NOT FOOL ANYONE THAT THE FUTURE WILL BE ROSIER

FP - Kim Moody (2025-03-12)

Assets represent the resources owned by a business, liabilities represent the financial obligations owed to others and equity represents the owner’s or shareholders’ interest in the business, such as the accumulated historical earnings of the business net of owner distributions and amounts received for issuing stock.

BANK OF CANADA COULD SLASH RATE BELOW 2% IF 'MADNESS CONTINUES:' BENJAMIN TAL

FP - Larysa Harapyn (2025-03-12)

Benjamin Tal, deputy chief economist of CIBC World Markets, talks with Financial Post’s Larysa Harapyn about how the Bank of Canada could slash the benchmark rate below two per cent this year if trade uncertainty continues.

YOUR BANK CAN CUT YOU OFF AND NEVER TELL YOU EXACTLY WHY.

G&M (2025-03-10)

A letter in the mail succinctly announces that all of your financial accounts will be shuttered.

BANK OF CANADA EXPECTED TO CUT INTEREST RATE AGAIN AS TRADE WAR WITH U.S. DISRUPTS ECONOMY

G&M (2025-03-10)

At its last rate announcement in January, the central bank lowered its benchmark rate by a quarter-percentage point, to 3 per cent, as insurance against the possibility of a trade war.

MARK CARNEY FACES IMMEDIATE TESTS IN U.S. RELATIONS AS ELECTION LOOMS

G&M - Robert Fife (2025-03-10)

Mark Carney, the two-time central banker, faces the biggest challenge of his life as he fights to win an imminent general election on the ballot question of who is best able to guide Canada through Donald Trump’s tariff war and threats to this country’s independence. Mr.

JPMORGAN JOINS GOLDMAN, HIKES EURO AREA'S 2025 ECONOMIC GROWTH FORECAST

Yahoo Finance (2025-03-10)

"This revision is primarily driven by Germany, but we also anticipate slightly stronger growth across the rest of the region from spillovers and slightly looser fiscal policy," said JPM economists in a note dated late Friday.

MARK CARNEY WINS CANADA LIBERAL CONTEST, WILL SUCCEED TRUDEAU IN DAYS

Yahoo Finance - Brian Platt and Laura Dhillon Kane (2025-03-10)

The ex-Bank of Canada and Bank of England governor won the contest to lead the Liberal Party of Canada with nearly 86% of the vote.

FEW WOMEN RISE IN RANKS IN CANADIAN REAL ESTATE, FINANCIAL INSTITUTIONS, CORPORATIONS: REPORT

Investment Executive - Noushin Ziafati (2025-03-10)

It found that in the corporate sector, the portion of women in CEO roles was 1.9%

US REGULATOR CLEARS PATH FOR BANKS TO ENGAGE IN SOME CRYPTO ACTIVITIES

Reuters (2025-03-10)

“Today’s action will reduce the burden on banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC, regardless of the underlying technology," Hood said in a statement. Specifically,

CANADA'S SCOTIABANK CEO PAY RISES BY 27% AFTER STRONG YEAR

Reuters (2025-03-10)

Bank of Nova Scotia, opens new tab raised CEO Scott Thomson's salary by about 27% to C$9.76

CANADA'S RBC, NATIONAL BANK CEOS GET PAY RAISES AFTER MEGA DEALS

Reuters - Arasu Kannagi Basil and Nivedita Balu (2025-03-10)

Royal Bank of Canada, opens new tab boosted CEO Dave McKay's 2024 salary by 61% to C$24.5

THE BEST MORTGAGE RATES IN CANADA RIGHT NOW

FP - Rob McLister (2025-03-10)

1-year fixed CIBC 5.49

DOW TUMBLES NEARLY 900 POINTS, NASDAQ SUFFERS WORST DAY SINCE 2022, AS RECESSION FEARS MOUNT

G&M - Darcy Keith (2025-03-10)

Fears that uncertainty over trade tariffs will send the U.S.

‘STARTING TO LOOK UGLY’: WHAT MARKET OBSERVERS ARE SAYING ABOUT WALL STREET’S SELLOFF

G&M (2025-03-10)

Major U.S.

ELON MUSK CLAIMS X BEING TARGETED IN 'MASSIVE CYBERATTACK' AS SERVICE GOES DOWN

Yahoo Finance - Michelle Chapman And Barbara Ortutay (2025-03-10)

Reese said the likelihood that a state actor is behind the outages “doesn't make a lot of sense” given their short duration — unless it was a warning for something larger to come.

TRUMP’S TRADE THREATS ARE STARTING TO HIT CANADIAN CREDIT MARKET

Yahoo Finance (2025-03-10)

“One could infer that the trade war is already impacting the ability of Canadian corporates to fund at competitive levels in their domestic market,” said Etienne Bordeleau, vice president and portfolio manager at NinePoint Partners LP.

STANDARD CHARTERED LAUNCHES EXCLUSIVE INVESTMENT CLUB FOR ULTRA-WEALTHY CLIENTS

Yahoo Finance (2025-03-10)

"Ultra-high-net-worth individuals are increasingly looking beyond traditional investment solutions to access the private markets," said Raymond Ang, global head of private bank and affluent clients at Standard Chartered.

RBC CUTS UNDISCLOSED NUMBER OF STAFF AMID 'GROWTH STRATEGY'

BNN (2025-03-10)

Canada’s largest bank says the cuts come amid changes meant to “better position RBC to take advantage of our global scale, simplify how we work and elevate the leaders and talent who will shape our client-focused growth opportunities.”

CANADA’S NEXT PM WORKING W/VANCOUVER “CONDO KING” ON FOREIGN INVESTMENT

Better Dwelling (2025-03-10)

Canada’s next leader hasn’t officially assumed the role, but he’s already looking to stimulate real estate.

OSC ALLEGES EMERGE CANADA BREACHED DUTIES TO INVESTORS WITH SELF-DEALING LOANS

Investment Executive (2025-03-10)

The OSC alleges Emerge acted in its own interests by knowingly taking an estimated $6 million of investor money in self-dealing loans over a period of nearly four years, starting in 2019 — “most of which was used to prop up its own businesses that were experiencing financial distress,” the

FINRA FINES ROBINHOOD $26 MILLION FOR RULES VIOLATIONS

Investment Executive - Alisha Hiyate (2025-03-10)

FINRA also found that Robinhood Financial’s disclosure to customers of its practice of collaring market orders — converting them to limit orders — was inaccurate or incomplete.

MOUNTING CYBER AND GEOPOLITICAL RISKS FOR FINANCIAL INSTITUTIONS: REPORT

Investment Executive - Jonathan Got (2025-03-10)

“Geopolitical tensions are creating an environment of unpredictability, where businesses may hesitate to invest or expand due to fears of sudden policy changes or retaliatory measures.

SWISS BANK J. SAFRA SARASIN TO BUY MAJORITY STAKE IN SAXO BANK FOR $1.2 BILLION

WSJ (2025-03-10)

Swiss private banking group J.

BARCLAYS CHAIR TOLD FCA EPSTEIN-STALEY TIES DID NOT NEED BOARD REVIEW IN 2019

Reuters (2025-03-10)

Staley, who took to the witness box on Monday and said in his witness statement that his reputation is "irretrievably damaged", is challenging the Financial Conduct Authority's (FCA) decision to ban him from working in the British finance industry in a London court after the watchdog decided he misled it

BANKS AND FINTECHS SEE STABLECOINS’ CROSS-BORDER PAYMENTS POTENTIAL

Pymnts (2025-03-10)

“The other thing that’s driven it is there’s real volume,” he said.

GET READY FOR AN ECONOMIC SHOCK OF HISTORIC PROPORTIONS AND A LOONIE BELOW 63 US CENTS

G&M (2025-03-07)

In the next few months and quarters, American households will no longer be blaming Joe Biden for an inflation breakout, especially for goods that are essentials.

FIXED MORTGAGE RATES EXPECTED TO DROP AS TARIFF THREATS DRIVE DOWN BOND YIELDS

G&M (2025-03-07)

Canadian lenders set their long-term fixed mortgage rates based on the performance of the bond market, which fell sharply in the days leading to Mr.

NATIONAL BANK SETS $20-BILLION RENEWABLE ENERGY FUNDING TARGET

G&M (2025-03-07)

National Bank NA-T says it’s aiming to reach $20-billion in renewable energy lending commitments by 2030 as part of its net-zero emissions push, even as the U.S.

RBC PAID CEO $26-MILLION LAST YEAR, INCLUDING AN AWARD FOR HSBC CANADA ACQUISITION

G&M - David Milstead (2025-03-07)

Royal Bank of Canada RY-T paid chief executive officer Dave McKay nearly $26-million last year, a 60-per-cent raise from his prior-year compensation. The

NIPPON LIFE IS SAID TO CONSIDER BUYING STAKE IN INDUSIND BANK

Bloomberg - Baiju Kalesh and Preeti Singh (2025-03-07)

Nippon Life Insurance Co.’s

TRUMP DELAYS CANADA, MEXICO TARIFFS FOR GOODS UNDER TRADE PACT

Bloomberg (2025-03-07)

President Donald Trump exempted Mexican and Canadian goods covered by the North American trade agreement known as USMCA from his 25% tariffs, offering major reprieves to the US’s two largest trading partners. Trump

BASEL III FREEZE THREATENS ‘CHAIN REACTION’: FITCH

Investment Executive (2025-03-07)

“The U.K.

BANKS WARN THAT CONSUMERS COULD BE HIT HARDER BY TARIFFS THAN OTHER GROUPS, AS LAYOFFS LOOM

G&M (2025-03-06)

Canadian banks are cautioning that consumers could be hit harder by tariffs than other groups as layoffs loom and businesses pause expansion plans. At

'A GREY CLOUD': ANALYSTS SCALE BACK PRICE TARGETS ON CANADIAN BANKS

Yahoo Finance (2025-03-06)

Writing that “trade uncertainty casts a grey cloud over the banks,” Canaccord analyst Matthew Lee lowered the price-to-earnings (P/E) multiple target for the group of banks from 11.8x

GERMAN BONDS EXTEND WORST DROP SINCE 1990 AS SELLOFF SPREADS

Yahoo Finance (2025-03-06)

“Today is a stark reminder that bond yield levels are determined globally,” said Martin van Vliet, global macro fixed income strategist at Robeco.

KLARNA TO FILE FOR $1 BILLION-PLUS IPO AS SOON AS NEXT WEEK

Yahoo Finance (2025-03-06)

The payments business aims to price the IPO in early April, the people said, asking not to be identified as the information isn’t public.

TD BANK SETS NEW CEO'S PAY AT $7.9 MILLION, CUTS US CHIEF'S SALARY

Yahoo Finance (2025-03-06)

Chun's compensation target for 2025 was raised to C$12 million as he assumed the CEO role.

BMO, RBC SAY INTEREST RATES COULD FALL HARDER AND FASTER WITH TARIFFS IN PLAY

BNN (2025-03-06)

“Without tariffs, we expected the BoC to gradually cut rates to 2.25

AN ALL-AMERICAN FINANCE EMPIRE DREW BILLIONS—AND A REGULATOR’S ATTENTION

Bloomberg - Emily Graffeo and Max Abelson (2025-03-06)

Jim Bowen has a salesman’s knack for making a dusty old spiel sound splendid.

TORONTO REAL ESTATE PRICES RISE DESPITE SALES COLLAPSING 25% LOWER

Better Dwelling (2025-03-06)

Fewer buyers and more sellers helped to push the sales to new listings ratio (SNLR) higher.

CREDIT CARD PERFORMANCE DETERIORATING: FITCH

Investment Executive (2025-03-06)

Specifically, Fitch reported that the delinquency rate (bills that are more than 60 days past due) rose to 1.2%

FCA FINALLY BANS BANKERS

Investment Executive (2025-03-06)

According to the FCA’s orders, Pearse admitted receiving US$45 million in kickbacks for his role in arranging US$1.3

VERSABANK FIRST QUARTER 2025 RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS BANK RAMPS UP PROVEN RPP SOLUTION IN US MARKET

VersaBank (2025-03-06)

Mr.

ECONOMIC THREATS FROM U.S. SAP CANADIAN HOUSING MARKET, TORONTO SALES DROP 28.5% IN FEBRUARY

G&M (2025-03-05)

Economic threats from the United States are reverberating in the Canadian housing market, pushing some prospective homebuyers back to the sidelines after they had waited for months for borrowing costs to drop. Home

TD BANK PLANS TO GIVE U.S. HEAD $2-MILLION RETENTION AWARD

G&M (2025-03-05)

Toronto-Dominion Bank TD-T will award its head of U.S.

OSC ANNOUNCES ALLEGATIONS OF FRAUD AGAINST JASON CLOTH AND CREATIVE WEALTH MEDIA FINANCE CORP.

OSC (2025-03-05)

The OSC alleges Cloth, a Toronto resident, and Creative Wealth raised over $500 million from investors across Ontario, Canada and the U.S.,

ODDS OF BANK OF CANADA INTEREST RATE CUT NEXT WEEK RISE AS TRUMP TARIFFS GO INTO EFFECT

Yahoo Finance - Alicja Siekierska (2025-03-05)

Canada has responded to Trump's tariffs, unveiling 25 per cent retaliatory tariffs on $30 billion worth of goods on Tuesday.

BLACKROCK'S PANAMA CANAL DEAL IS LATEST WIN FOR CHIEF LARRY FINK'S STRONG START TO TRUMP ERA

Yahoo Finance - David Hollerith (2025-03-05)

The latest came Tuesday as the world’s largest money manager announced that a BlackRock-led investment coalition would take control of two key ports on either end of the Panama Canal for the price of $22.8

NEW ZEALAND’S CENTRAL BANK FAILS TO SHED LIGHT ON WHY GOVERNOR QUIT

Yahoo Finance (2025-03-05)

The departure of Orr, 62, comes at a critical juncture for New Zealand as the RBNZ cuts interest rates to spur a recovery from recession.

OPENING-BELL STOCK SELLOFF FUELED BY A RECORD-SETTING RETREAT

BNN (2025-03-05)

“There is likely some profit-taking going on because those with a lower risk tolerance will likely stay on the sidelines until some of the tariff uncertainty clears,” said Jim Worden, chief investment officer of Wealth Consulting Group.

PRIVATE CREDIT EYEING RESCUE FINANCING AND SEEING STRESS SIGNS

BNN (2025-03-05)

“We have an asset class that 95% haven’t invested through a cycle or when rates weren’t zero,” Koch said.

ODD LOTS: RAY DALIO ON THE COMING CRISIS IN US DEBT

Bloomberg (2025-03-05)

Almost whichever way you measure it, the US has a lot of debt.

FSB TAPS BOC’S MACKLEM TO HEAD OVERSIGHT GROUP

Investment Executive - James Langton (2025-03-05)

“At a time when the financial landscape is rapidly evolving, identifying and addressing vulnerabilities is paramount to maintaining global financial stability,” FSB chair Klaas Knot said in a release.

BANK OF ENGLAND PLANS TO EASE LEVERAGE RULES ON UK LENDERS

FT (2025-03-05)

The Bank of England has proposed lifting the size threshold that restricts how much British banks can borrow to fund their activities. The

PRIVATE EQUITY INDUSTRY SHRINKS FOR THE FIRST TIME IN DECADES

FT (2025-03-05)

Private equity assets under management fell last year for the first time in decades as investors confronting a $3tn backlog of ageing and unsold deals pulled back from committing new funds to the sector. Buyout

TRUDEAU TO UNLEASH COUNTERTARIFFS AS TRUMP DECLARES TRADE WAR

G&M - Steven chase, Laura Stone (2025-03-04)

Prime Minister Justin Trudeau vowed economic retaliation against the U.S.,

WELLTOWER TO BUY AMICA PORTFOLIO FROM ONTARIO TEACHERS’ PENSION PLAN FOR $4.6-BILLION

G&M (2025-03-04)

Real estate income trust Welltower WELL-N is set to expand its operations in Canada by acquiring luxury senior homes operator Amica Senior Lifestyles’ portfolio from the Ontario Teachers’ Pension Plan for $4.6-billion,

COURT APPROVES SETTLEMENT DEAL FOR TD MUTUAL FUND INVESTORS

G&M - Clare O'Hara (2025-03-04)

An Ontario Court has approved an $8.5-million

FAIRFAX FOUNDER PREM WATSA DONATES $10-MILLION TO LAUNCH CENTRE FOR FREE ENTERPRISE

G&M - Andrew Willis (2025-03-04)

Self-made billionaire Prem Watsa is worried Canadian business is losing touch with its entrepreneurial roots. To

INFLATION EASES TO 2.4% IN EUROPE, SUPPORTING LIKELY CENTRAL BANK RATE CUT

Yahoo Finance - David McHugh (2025-03-04)

The February figure for the 20 countries that use the euro currency was down from 2.5%

CITI COPY-PASTE ERROR ALMOST SENT $6 BILLION TO WEALTH ACCOUNT

Bloomberg - Todd Gillespie (2025-03-04)

Citigroup Inc.

FUND GIANT BLACKROCK IS OUT TO UNITE PUBLIC AND PRIVATE MARKETS

Bloomberg (2025-03-04)

Asset management has two great kingdoms.

OPEN QUESTIONS ABOUT OPEN BANKING

Investment Executive - Jonathan Got (2025-03-04)

A second open banking bill, expected to become law in 2024, was thrown off track when Parliament was prorogued at the request of outgoing Prime Minister Justin Trudeau.

U.S. PAUSES ALL MILITARY AID TO UKRAINE

WSJ - Nancy A. Youssef Follow, Alexander Ward Follow and Jared Malsin (2025-03-04)

A senior administration official said all of Trump’s top national security advisers agreed with the decision to pause the aid after several meetings on the issue.

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.

UBS KEEPS LID ON CEO ERMOTTI'S PAY IN 2024 AMID TUSSLE ON REGULATION

Yahoo Finance (2025-03-17)

The pay package of UBS CEO Sergio Ermotti was 14.9

BANKS BOOM AND SHOPPERS SCRIMP A YEAR AFTER JAPAN’S RATE PIVOT

Yahoo Finance - Taiga Uranaka, Masaki Kondo and Haruka Iwai (2025-03-17)

The bank’s first rate hike in 17 years was followed by two more in the space of months, the swiftest pace since 1989, when it was at the peak of a “bubble economy” that burst shortly afterward.

WORLD’S BIGGEST STOCK ROUT DEEPENS AS THAI MARKET RESCUE FALTERS

Yahoo Finance (2025-03-17)

Seven months after $4.5