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.

BANK OF MONTREAL BOOSTS WEALTH MANAGEMENT BUSINESS WITH $625-MILLION BURGUNDY DEAL

G&M - Andrew Willis, Stefanie Marotta (2025-06-20)

Bank of Montreal BMO-T beefed up its wealth management business on Thursday by acquiring Burgundy Asset Management Ltd.

CMHC GIVES UP ON COMPARING HOUSING AFFORDABILITY TO 2004 LEVELS

G&M - RACHELLE YOUNGLAI (2025-06-20)

Canada’s national housing agency says it is no longer possible to build enough homes to bring housing affordability back to 2004 levels and it will start using 2019 as a more realistic benchmark. Price

CAISSE DROPS IVANHOé CAMBRIDGE, OTéRA NAMES FROM RESTRUCTURED REAL ESTATE DIVISION

G&M - James Bradshaw (2025-06-20)

Quebec’s largest pension fund manager is rebranding its revamped real estate arm, dropping the names of subsidiaries Ivanhoé Cambridge and Otéra Capital Inc. The

NORWAY PLANS TEMPORARY BAN ON POWER-INTENSIVE CRYPTOCURRENCY MINING

BNN (2025-06-20)

“The Labour Party government has a clear intention to limit the mining of cryptocurrency in Norway as much as possible,” Minister for Digitalization and Public Administration Karianne Tung said in a statement.

BROOKFIELD’S INSURER TRIMS PRIVATE CREDIT, CITING CROWDED TRADE

Bloomberg - Alexandre Rajbhandari (2025-06-20)

Brookfield Corp.’s

CREDIT CARD PAYMENT RATES DOWN, DELINQUENCIES RISING

Investment Executive - Jonathan Got (2025-06-20)

While balances have increased, average credit card spending in March 2025 fell by 4.2%

ISRAEL’S WAR ON IRAN IS COSTING HUNDREDS OF MILLIONS OF DOLLARS A DAY

WSJ - Anat Peled (2025-06-20)

Israel’s conflict with Iran is costing the country hundreds of millions of dollars a day, according to early estimates, a price tag that could constrain Israel’s ability to conduct a lengthy war. The

BRIDGING FINANCE EXECUTIVES MUST PAY MORE THAN $27-MILLION FOR INVESTMENT FRAUD, ONTARIO TRIBUNAL SAYS

G&M - Jameson Berkow (2025-06-19)

David and Natasha Sharpe, the architects of Bridging Finance Inc.,

GROWING NUMBER OF RENTERS ARE WAITING FOR HOME PRICES TO DECLINE FURTHER BEFORE BUYING, REPORT SAYS

G&M - Dayne Patterson (2025-06-19)

Canadian renters are waiting for housing prices to drop before jumping into the market, according to a new report, reflecting optimism over a trend of falling prices. As

HOW THIS FORMER MONTREAL ALOUETTE MADE THE TRANSITION TO FINANCIAL ADVICE

G&M - Brenda Bouw (2025-06-19)

In the Behind the Advice series, Globe Advisor asks advisors about their relationship with money from a young age, lessons learned over the years and how their experiences influence the advice they give to clients.

WHY THE HOUSING MARKET IS SO STUCK, IN 4 CHARTS

Yahoo Finance - Claire Boston (2025-06-19)

Mortgage rates aren’t helping.

BROOKFIELD LEADS AS RBC INITIATES BULLISH CALL ON DIVERSIFIED FINANCIALS

Yahoo Finance - Luke Juricic (2025-06-19)

RBC Capital Markets has initiated coverage on the North American diversified financials sector with a bullish stance on select names showing attractive value and structural growth dynamics.

GLOBAL EQUITIES—THE CASE FOR EUROPE

Frank Templeton (2025-06-19)

...after

CANADIAN PENSION DOUBLES DOWN ON GREEN INVESTING WITH $400 MILLION PLEDGE

Bloomberg (2025-06-19)

La Caisse, one of Canada’s largest institutional investors, is doubling down on its sustainable investing targets after meeting its goals for this year earlier than expected. The

CANADIAN CONDO PRICES DROP FOR 19TH STRAIGHT MONTH, LOWEST SINCE 2021

Better Dwelling (2025-06-19)

Canadian condo prices have held up better than other segments, but cracks are forming.

COOPETITION IS GOOD FOR ADVISORS, CLIENTS AND THE INDUSTRY AT LARGE

Investment Executive - Tashia Batstone (2025-06-19)

Coopetition describes a relationship where organizations or professionals who may compete in some areas come together to collaborate in others, especially when shared values or public interest goals are involved.

CANADIAN POPULATION GROWTH CONTINUED TO SLOW WITH ALMOST NO INCREASE IN Q1

Investment Executive (2025-06-19)

It was the sixth consecutive quarter of slower population growth after a decision by the federal government in 2024 to lower the levels of both temporary and permanent immigration.

STABLECOIN LEGISLATION WILL JUICE DEMAND FOR TREASURYS—TO A POINT

WSJ - Sam Goldfarb (2025-06-19)

New legislation regulating stablecoins—a type of digital currency pegged to the U.S.

BULLISH ON IA FINANCIAL CORP.

G&M (2025-06-18)

IA Financial Monday’s close $142.75)traded

BANK OF CANADA GOVERNING COUNCIL IS CONCERNED INFLATION COULD PERSIST FOR LONGER

Yahoo Finance - Promit Mukherjee (2025-06-18)

Its summary of deliberations showed the members took into consideration the unexpected firmness in inflation data to take its rates decision and that the team spent considerable amount of time probing how trade policy was influencing prices.

CANADIAN BANK FOSSIL FUEL FUNDING ROSE IN 2024 DESPITE RECORD HEAT: REPORT

Yahoo Finance (2025-06-18)

The report pegged Scotiabank as 13th, CIBC at 14th and BMO Financial Group as 16th, with all of the big five Canadian banks showing an increase in funding from the previous year, including a 46 per cent jump for TD and a 41 per cent increase for CIBC.

CANADA’S RETAILERS ARE IN TROUBLE AND THERE’S MORE TO COME: INSOLVENCY, RESTRUCTURING EXPERTS

BNN (2025-06-18)

“A lot of them have been just barely staying afloat since the pandemic ...

BARCLAYS HIRES MCKINSEY TO IDENTIFY SAVINGS IN INVESTMENT BANK

Bloomberg (2025-06-18)

Barclays Plc has hired McKinsey & Co.

PRIVATE CREDIT MAKES UP A THIRD OF US LIFE INSURANCE ASSETS

Bloomberg (2025-06-18)

Insurers in Europe and the United States are ramping up their exposure to private credit, according to two new reports from Moody’s Ratings. As

HSBC WEIGHS ASKING STAFF TO SHOW UP IN OFFICE THREE DAYS A WEEK

Bloomberg (2025-06-18)

HSBC Holdings Plc is considering telling all its employees to work from one of the bank’s offices at least three days a week, as it looks to tighten some of its flexible policies that have been in place since the pandemic. The

CANADIAN REAL ESTATE PRICES TO REMAIN SLUGGISH, BEAR MARKETS LAST YEARS: BMO

Better Dwelling (2025-06-18)

He reminds investors that prices have dropped for five consecutive months, are down over 3% from last year, and 17.5%

OTTAWA PLEDGES TO ADVANCE OPEN BANKING AT ‘EARLIEST OPPORTUNITY’

Investment Executive (2025-06-18)

Instead of waiting on Ottawa, the National Bank has moved forward on its own open banking framework that lets fintechs — financial technology firms that develop apps for Canadians and businesses — plug into their databases to share information securely when users give their permission.

GLOBAL BANKS INCREASE FOSSIL-FUEL FUNDING AS CLIMATE PLEDGES CRUMBLE

WSJ - Elena Vardon (2025-06-18)

The world’s largest lenders committed $869.4

OSFI 2025–26 DEPARTMENTAL PLAN AT A GLANCE

OSFI (2025-06-18)

In 2025-26, our efforts will remain focused on responding to a heightened risk environment and operationalizing our expanded mandate to implement an integrity and security regime.

U.S. TURMOIL CREATES OPPORTUNITY FOR CANADA TO ATTRACT NEW CAPITAL, CPPIB HEAD SAYS

G&M - James Bradshaw (2025-06-18)

Canada and other countries have a chance to attract new capital as U.S.

GLOBALIVE SAYS OTTAWA HAS APPROVED ITS BID FOR WEALTH ONE BANK

G&M - ALEXANDRA POSADZKI, ANDREW WILLIS (2025-06-18)

A consortium of Canadian investors led by Globalive Corp.

TD’S LICENCE TO OPERATE IN U.S. AT RISK DURING 2024 SETTLEMENT TALKS, FORMER REGULATOR SAYS

G&M - Stefanie Marotta (2025-06-18)

Toronto-Dominion Bank TD-T could have lost its licence to operate in the U.S.

CANADA’S HOUSEHOLD DEBT CRISIS: WHEN AND HOW WE OUTPACED BRITAIN AND THE U.S.

G&M - Hanif Bayat (2025-06-18)

Canada’s household debt-to-GDP ratio has remained at or above 100 per cent for a decade – currently the highest among the world’s 10 largest economies. As

FALLING HOME PRICES COULD MEAN TROUBLE FOR CANADA’S GDP AND THE HOME OF THE WEEK: CANADIAN REAL ESTATE NEWS FOR THE WEEK OF JUNE 13

G&M - Jacob Dube (2025-06-17)

With tariffs, low oil prices and an existential threat to Canada’s auto sector, the economy could use a quick fix to stimulate some growth.

BUSINESS GROUPS URGE CARNEY TO PAUSE DIGITAL SERVICES TAX IN FEAR OF TRUMP BACKLAS

G&M - Clare O'Hara (2025-06-17)

A group of Canadian business associations are pressing Prime Minister Mark Carney to pause the implementation of “discriminatory” taxes that have spurred U.S.

CITI CALLS TIME ON GOLD’S RALLY ON SLUMPING DEMAND, FED CUTS

Yahoo Finance (2025-06-17)

Gold (GC=F) is expected to sink back below $3,000 an ounce in the coming quarters as a record-setting run peters out, according to Citigroup Inc.,

CENTRAL BANKS FAVOUR GOLD OVER DOLLAR FOR RESERVES, WGC SURVEY

Yahoo Finance (2025-06-17)

Seventy three central banks responded to WGC's survey, carried out between February 25 and May 20, and 76% of these expect their gold holdings to be higher in five years compared with 69% last year.

DO NOT SEE THE U.S. FED CHANGING RATES: MILLER

BNN - Liz Miller (2025-06-17)

Liz Miller, President of Summit Place Financial Advisors, joins BNN Bloomberg to discuss the markets amid uncertainty.

CHINA HOUSING DEMAND TO STAY AT 75% BELOW PEAK, GOLDMAN SAYS

Bloomberg (2025-06-17)

China’s demand for new homes in cities is expected to stay at 75% below its 2017 peak in the coming years due to a shrinking population and expectations of price declines that have been hurting investment interest, according to Goldman Sachs Group Inc. “Falling

CANADIAN REAL ESTATE PRICES FALL TO LOWEST LEVEL IN 4 YEARS

Better Dwelling (2025-06-17)

According to the board’s benchmark data, home prices have steadily fallen from the record high.

MAY HOME SALES DOWN 4.3% FROM YEAR AGO, BUT ACTIVITY UP MONTH-OVER-MONTH

Investment Executive - Sammy Hudes (2025-06-17)

Home sales rose 3.6%

CMHC SAYS ANNUAL PACE OF HOUSING STARTS IN MAY DOWN 0.2% FROM APRIL

Investment Executive (2025-06-17)

CMHC says actual housing starts in May in centres with a population of 10,000 or greater totalled 23,745, up from 21,814 in May 2024.

REACHING OUT FOR A CLEARER VIEW OF THE ECONOMY

BOC (2025-06-16)

Non-traditional data can help us see what’s happening under the surface—and in a timelier way.

WHY THE FED FACES AN 'ALMOST IMPOSSIBLE CHALLENGE'

Yahoo Finance (2025-06-16)

On Wednesday, the Federal Reserve will make its decision on interest rates.

PREMIUM INSURANCE DEMAND RISES WITH GLOBAL TRAVEL DISRUPTIONS

Yahoo Finance (2025-06-16)

In the U.S.,

BANK REGULATORS CALL FOR VOLUNTARY CLIMATE DISCLOSURE AMID RESISTANCE

Investment Executive (2025-06-16)

“We’re seeing one step forward, two steps back,” Symon said.

AN ANALYSIS OF PAYMENTS AND E-COMMERCE TRENDS

Payments Canada (2025-06-16)

E-commerce payments in Canada accounted for 546 million transactions worth 71.6

VISTA AND BLACKSTONE QUIETLY BUY ASSENT, VALUING OTTAWA COMPLIANCE SOFTWARE COMPANY AT $1.3-BILLION

G&M (2025-06-15)

U.S.

WHAT WILL THE BANK OF CANADA DO NEXT? ECONOMISTS' FORECASTS ARE ALL OVER THE PLACE

Yahoo Finance (2025-06-15)

On Thursday, RBC Economics updated its economic forecast to advise that it no longer expects any rate cuts from the Bank of Canada (BoC) in 2025, a position also taken by economists at Scotiabank.

U.S. FED EXPECTED TO KEEP RATES STEADY AS TARIFF RISKS OUTWEIGH INFLATION DATA

BNN (2025-06-15)

Trump has demanded the U.S.

THE END OF THE LONG BOND ERA

Bloomberg (2025-06-15)

Interested in bonds, this video provides a great explanation of the market: From the US to Japan, governments are having to pay investors more to get them to lend money by buying bonds.

THE FORDOW IMPERATIVE—FOR TRUMP AND ISRAEL

WSJ (2025-06-15)

Israel continues to bomb key Iranian military sites, while Iran is firing missiles at Israeli cities.

WALMART AND AMAZON ARE EXPLORING ISSUING THEIR OWN STABLECOINS

WSJ (2025-06-15)

Some of the biggest merchants are exploring how to issue or use stablecoins, potentially shifting the high volumes of cash and card transactions that they handle outside the traditional financial system and saving them billions of dollars in fees. Walmart

DECODING BNPL USERS: NECESSITY, CONVENIENCE AND RISK SIGNALS

Pymnts (2025-06-15)

Whether consumers use BNPL out of necessity because they are cash-strapped or for convenience in managing their pocketbooks depends in large part on their income.

PAYMENT HUBS OFFER BANKS A PATH TO AVERT $98.5 MILLION IN ANNUAL LOSSES

Pymnts (2025-06-15)

Modern hubs integrate comprehensive functionalities, encompassing not only payment initiation, processing, reconciliation and settlement, but also using advanced features such as built-in fraud detection with real-time transaction monitoring, robust compliance tools like know your customer (KYC) and anti-money laundering (AML) checks, and sophisticated analytics.

NEW YORK BILL WOULD PROHIBIT RETAILERS FROM REFUSING CASH PAYMENTS

Pymnts (2025-06-15)

“Cash is still king for many New Yorkers who live paycheck to paycheck or who simply don’t have access to credit or banking services,” Sanders said in the release.

WEALTHSIMPLE PLANS PAPERLESS CHEQUES AND UBER-LIKE DELIVERY OF CASH TO CUSTOMERS’ DOORS

G&M (2025-06-12)

Wealthsimple Technologies Inc.

WEALTHSIMPLE IS TAKING ON THE BIG BANKS - AND MIGHT JUST SURPASS THEM

G&M - Rob Carrick (2025-06-12)

It’s too early to hand this distinction to Wealthsimple because it hasn’t fully introduced all of its new banking features, some of which are gimmicky.

THE BIG GUIDE TO AUTO INSURANCE

G&M - Mariya Postelnyak (2025-06-12)

Drivers in Canada have been reeling from soaring auto insurance premiums with rising vehicle thefts, higher repair costs and even extreme weather.

A SURPRISING ANSWER TO THE QUESTION: WHICH BIG BANK HAS THE BEST MOBILE APP?

G&M - Rob Carrick (2025-06-12)

According to a new J.D.

THE BIG SIX BANKS ARE TO BLAME FOR THE LIFELESS TORONTO STOCK EXCHANGE

G&M - J. ARI PANDES AND COLIN DEACON (2025-06-12)

Globally, IPO activity is declining and the universe of public companies is shrinking.

DON'T ASSUME FURTHER RATE CUTS FROM THE BANK OF CANADA, POLOZ WARNS

Yahoo Finance - Jordan Gowling (2025-06-12)

Poloz said the deterioration in the labour market is a “recessionary indicator” and he expects further layoffs as the result of tariffs in the coming months.

AUSTRALIAN REGULATOR CRACKS DOWN ON 'FINFLUENCERS' OVER UNLAWFUL FINANCIAL ADVICE

Yahoo Finance (2025-06-12)

The action was taken as part of the Global Week of Action Against Unlawful Finfluencers held last week, which saw regulators from around the world using regulatory and enforcement powers against unlawful financial influencers.

NATWEST SHIFTS SOME OPERATIONS FROM SWITZERLAND TO CUT COSTS

G&M - William Shaw and Aisha S Gani (2025-06-12)

NatWest Group Plc has begun shifting some of its wealth management operations from Switzerland to the UK as Chief Executive Officer Paul Thwaite has sought to whittle away costs across the lender. The

CANADIAN REAL ESTATE DEVELOPMENT PLANS FELL SHARPLY

Better Dwelling (2025-06-12)

All segments showed declines, but the largest pullback was in the residential sector.

FP CANADA, CPA CANADA SYNERGIZE WITH CE, EVENTS AND CREDENTIALS

Investment Executive (2025-06-12)

The collaboration with CPA Canada involves more than one-quarter million professionals.

ONTARIO’S TITLE PROTECTION REGIME REPRESENTS PROGRESS, BUT RISKS REMAIN

Investment Executive (2025-06-12)

Many investors assume that a financial advisor will provide holistic, client-focused advice.

HIPPO INSURANCE PITCHES BIG COMEBACK BY 2028, CEO EXPLAINS

Yahoo Finance (2025-06-12)

Property insurance company Hippo Holdings (HIPO) hosted its 2025 investor day on Thursday.

EFFORT TO STRIP FED OF INTEREST PAYING POWER SEEN LIKELY TO BRING UPHEAVAL TO MARKETS

Yahoo Finance (2025-06-12)

On Wednesday, Bloomberg reported that Cruz had also lobbied President Donald Trump, who has long been at odds with the Fed, as well as Republican colleagues, about his idea.

COINBASE HIRES TOP POLITICAL STRATEGIST AS CRYPTO INDUSTRY FLEXES ITS NEWFOUND POLITICAL MIGHT

Yahoo Finance (2025-06-12)

Regardless of how crypto has performed in the past, the ability for Americans to put their retirement funds — roughly $44 trillion in assets — into crypto will lead to billions of dollars in profits for the industry, if even a small portion of Americans put their assets into a

CANADIAN GOVERNMENT PURGE? PUBLIC SECTOR LOSES 21K JOBS IN A MONT

Better Dwelling (2025-06-12)

The Federal government isn’t the only public employer on a firing spree.

NINE AGENTS: $1 BILLION OF ORIGINATIONS. HOW AI-POWERED PINE IS SCALING

Mortgage Logic (2025-06-12)

He explained that Pine, which has received $50 million in venture funding, is vertically integrating its mortgage business with home shopping, using the properly.ca

EU CONFIRMS FURTHER ONE-YEAR DELAY TO BANK TRADING DESK RULES

WSJ (2025-06-12)

The European Union confirmed the delay by one more year of tougher global rules for banks’ trading businesses. The

BLACKROCK SETS $400BN FUNDRAISING TARGET TO TAKE ON PRIVATE CAPITAL GIANTS

FT (2025-06-12)

BlackRock has set an ambitious $400bn fundraising target for its private investment businesses, as executives laid out a plan to almost double the market value of the world’s largest asset manager by 2030. The

ARE MACHINES SMARTER THAN VENTURE CAPITALISTS?

FT (2025-06-12)

In an attempt to dial up the smart factor and dial down luck, many investors have resorted to technology.

WORLD’S BIGGEST AIRCRAFT OWNER SET FOR $1BN PAYOUT IN RUSSIAN PLANES CASE

FT (2025-06-12)

The world’s biggest commercial aircraft owner AerCap is in line for a payout of more than $1bn after the High Court in London ruled insurers had to cover losses from planes stranded in Russia, one of the largest sums ever awarded by the English courts. Insurers

HOME PRICES ARE FALLING, AND CANADA IS LOSING ITS SECRET WEAPON FOR STOKING GDP GROWTH

G&M - Tim Kiladze (2025-06-11)

Steel and aluminum tariffs just doubled, oil prices have hovered near multiyear lows and Canada’s auto sector faces an existential threat.

MATTAMY HOMES FOUNDER PETER GILGAN TO START PREFAB HOUSING FACTORY IN ONTARIO

G&M - Sean Silcoff, Rachelle Younglai (2025-06-11)

Real estate developer Peter Gilgan plans to start a home-building factory in the Toronto area, the billionaire’s second attempt to create a prefabricated homes business as the federal government looks to boost construction of new homes. Mr.

UNICREDIT CEO SAYS CHANCES OF PURSUING BANCO BPM DEAL NO MORE THAN 20%

Yahoo Finance (2025-06-11)

Speaking at a financial conference organised by Goldman Sachs in Berlin, Orcel told investors the conditions Italy set to authorise takeover using 'golden powers' it has to protect national security interests create too much uncertainty and expose the bank to huge fines if UniCredit does not comply.

PRIVATE CREDIT IN INDIA IS CLOSING DEALS — AND ITS EYES

Bloomberg - Andy Mukherjee (2025-06-11)

India is a sizzling market for private credit, though some participants are wondering if in their eagerness to close deals, investors are shutting their eyes to risks, especially the legal minefields around collateral and bankruptcy. A

CANADIAN REAL ESTATE PRICES ROSE 7X FASTER THAN WAGES SINCE 1981

Better Dwelling (2025-06-11)

The absurdity of Canadian real estate prices is really highlighted against the wage data.

MANULIFE WEALTH FEE CHANGES HIT SOME ADVISORS HARDER THAN OTHERS

Investment Executive - Jonathan Got (2025-06-11)

The fee changes impacted advisors with smaller accounts primarily, which has caused some advisors to leave Manulife.

FINTRAC FINES CREDIT UNION OVER COMPLIANCE

Investment Executive - James Langton (2025-06-11)

FINTRAC imposed an administrative monetary penalty of $116,160 on the credit union after uncovering four violations in a 2023 compliance review.

FORMER ICBK CHIEF ALLEGES CHINA’S LARGEST BANK FIRED HIM OVER EFFORTS TO COMPLY WITH CANADIAN LAWS

G&M - Rita Trichur (2025-06-10)

The CEO of the Canadian subsidiary of China’s largest bank was fired after clashes with officials in Beijing over his efforts to spearhead compliance with federal regulations and laws aimed at preventing foreign interference in domestic financial institutions, according to a lawsuit. Filed

VERSABANK DIGITAL DEPOSIT RECEIPTS FOR STABLECOINS TO BE PRESENTED AT FLORIDA BANKERS ASSOCIATION ANNUAL MEETING

VersaBank - David Taylor (2025-06-10)

Mr.

YES, PARENTS NEED LIFE INSURANCE. HERE’S WHY

G&M - Erin Bury (2025-06-10)

According to a 2024 poll from my company Willful and Angus Reid, only 43 per cent of Canadian parents of minor children have life insurance. In

AUDITOR GENERAL'S REPORT ON COMPANY BEHIND ARRIVECAN TO BE RELEASED TODAY

Yahoo Finance (2025-06-10)

GC Strategies received nearly a third of the $60 million total cost of the ArriveCan project, despite being awarded contracts through non-competitive processes

OUTLOOK FOR INTEREST AND MORTGAGE RATES

BNN (2025-06-10)

The Bank of Canada made a call on interest rates this week - but the market is making its own call on rates that will affect the debt most of us pay.

CENTERBRIDGE SEEKS $1 BILLION TO HOLD CANADIAN BANK FOR LONGER

Bloomberg (2025-06-10)

Centerbridge Partners aims to raise about $1 billion to give it more time to hold its minority position in Fairstone Bank of Canada, according to people familiar with the matter. The

SCOTIABANK CALLS ITS HEAD-OFFICE STAFF BACK IN FOUR DAYS A WEEK

Bloomberg (2025-06-10)

Bank of Nova Scotia plans to call head-office employees back to the office four or more days per week starting in September, citing a push for more collaboration as it follows recent moves by other big lenders including Royal Bank of Canada and JPMorgan Chase & Co. Toronto-based

CANADIAN RENTS ARE BACK TO RISING AFTER A BRIEF DECLINE

Better Dwelling (2025-06-10)

Canada’s rent prices are finally showing signs of softening, though progress remains minor.

BOC’S TIFF MACKLEM SAYS MANDATE SHOULD EVOLVE IN A ‘SHOCK-PRONE’ WORLD

Investment Executive - Craig Lord (2025-06-10)

Macklem said the past few years have led the Bank of Canada to scrutinize some of its metrics, like core inflation and how it responds to supply shocks in the economy.

LIVING LONGER — THE ‘FUNDAMENTAL FINANCIAL CHALLENGE’

FT - Moira O'neill (2025-06-10)

It is the “ticking time bomb” of financial planning.

SENIOR FED OFFICIAL PROMISES MAJOR OVERHAUL OF US BANK REGULATION

FT - Martin Arnold (2025-06-10)

The Federal Reserve’s new financial supervision chief has promised a significant overhaul of US banking rules, vowing to address industry concerns that regulations imposed after the 2008 financial crisis are too onerous. Michelle

INTUIT OFFERS TO PAY INTEREST, PENALTIES FOR ONTARIO FAMILIES AFFECTED BY TURBOTAX SNAFU

G&M - Erica Alini (2025-06-09)

Andrew Van Vroenhoven, of Whitby, Ont.,

TRUMP’S FOREIGN-INVESTMENT TAX IS A ‘DIPLOMATIC WEAPON’ THAT PUNISHES CANADIANS

G&M - Tim Kiladze (2025-06-09)

U.S.

OTTAWA TO OVERHAUL FINANCIAL-CRIME LAWS IN NEW BORDER SECURITY BILL

G&M (2025-06-09)

The federal government is aiming to overhaul Canada’s financial-crime laws, including new restrictions on large cash transactions to curb money laundering. A

CANADA'S MAY UNEMPLOYMENT RATE AT MULTI-YEAR HIGH

Yahoo Finance - Promit Mukherjee (2025-06-09)

This level of unemployment was last seen in September 2016 after the COVID-era unemployment numbers of 2020 and 2021 are excluded, StatsCan said.

BOE RISKS REPEAT OF BREXIT PESSIMISM AS GROWTH SIGNALS DIVERGE

G&M - Tom Rees (2025-06-09)

Bank of England rate-setters risk underestimating the strength of the UK economy by placing too much faith in downbeat business surveys over official growth data. Governor

TRUMP MEDIA IS COMING FOR BROKERAGE ACCOUNTS WITH ETF PUSH

Bloomberg - Vildana Hajric (2025-06-09)

The Trump brand has been used to hawk cryptocurrencies, Bibles, steaks and guitars.

EASING CAPITAL RULES A NEGATIVE FOR BIG U.S. BANKS

Investment Executive - James Langton (2025-06-09)

Currently, all banks have a minimum SLR requirement of 3%, the G-SIBs (including JPMorgan Chase & Co.,

CANACCORD POSTS $461M Q4 REVENUE

Investment Executive - Jonathan Got (2025-06-09)

The company’s global wealth management operations earned $238.9

SWITZERLAND PUTS TOUGH BANKING CURBS ON UBS TO PREVENT ANOTHER CREDIT SUISSE

WSJ - Margot Patrick (2025-06-09)

Draft banking reforms proposed Friday said UBS will have to hold around $26 billion in additional equity capital and reduce its reliance on hybrid bonds that can convert to equity.

MODERNIZING HOW WE COLLECT DATA FROM INSTITUTIONS

OSFI (2025-06-09)

The Data Collection Modernization (DCM) initiative aims to improve the type of data we collect and the way we collect it.

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.

BANK OF MONTREAL BOOSTS WEALTH MANAGEMENT BUSINESS WITH $625-MILLION BURGUNDY DEAL

G&M - Andrew Willis, Stefanie Marotta (2025-06-20)

Bank of Montreal BMO-T beefed up its wealth management business on Thursday by acquiring Burgundy Asset Management Ltd.

CMHC GIVES UP ON COMPARING HOUSING AFFORDABILITY TO 2004 LEVELS

G&M - RACHELLE YOUNGLAI (2025-06-20)

Canada’s national housing agency says it is no longer possible to build enough homes to bring housing affordability back to 2004 levels and it will start using 2019 as a more realistic benchmark. Price

CAISSE DROPS IVANHOé CAMBRIDGE, OTéRA NAMES FROM RESTRUCTURED REAL ESTATE DIVISION

G&M - James Bradshaw (2025-06-20)

Quebec’s largest pension fund manager is rebranding its revamped real estate arm, dropping the names of subsidiaries Ivanhoé Cambridge and Otéra Capital Inc. The