Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.

Goldman Sachs’ top AI picks

Brook Dane, portfolio manager at Goldman Sachs Asset Management, joins The Exchange to discuss the firm\'s top AI picks and the reasoning behind these picks.
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Does Printing Money Cause Inflation?

The link between the money supply and inflation.
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HSBC, the Untouchable Titan of Global Finance

From the filmmaker behind \'Goldman Sachs: The Bank that Rules the World\' comes a compelling new exposé delving into corruption within one of the globe\'s premier financial institutions – HSBC.
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US Economist’s Shock Warning: “Biggest Crash in Ou

This time, it’s got to crash 86% for the S&P 500 just to get back to the last low in early 2009, cautions Harry Dent
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Toni Gravelle Speech

On December 7, 2023, Deputy Governor Toni Gravelle speaks before the Windsor-Essex Regional Chamber of Commerce.
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Alberta Premier on the Supreme Court\'s ruling, an

Danielle Smith, Alberta\'s Premier, joins BNN Bloomberg to discuss the Supreme Court\'s ruling against Ottawa\'s environmental impact law, and the possibility of Alberta abandoning the Canada Pension Plan to run its own stand-alone fund.
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What Bank of America Just Said is Shocking

Bull market based on hype not reality.
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Horrific Canadian Banking Corruption Right Before

Fasten your seat belts as the banks continue moral hazard.
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The Banking System is in Free-Fall

Fall as Deposits Leave in Record Numbers Amid a Collapse in Lending
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The Financialization of Real Estate

REITS, private investors, private equity are using housing to prime their portfolios.
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Bitcoin regulations are coming

Lovers and haters of Bitcoin are polarized over the Ponzi. One thing is clear, regulations are coming.
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Are we in a bubble and, if so, when will it pop?

Since 2008 Canada has been pushing home prices higher. Canadian homes are considered by many to be the least affordable of all G20 nations. What gives?
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Canadian real estate and government, March 29

The latest Canadian real estate and government news. Risk of collapse, end of QE and rate rise are some of the issues discussed. Also the governments poor foreign policies on Ukraine are covered.
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FIRE report January 12th

Indigenous banking part 2 a continuation of earlier discussion of First Nations Bank. Other news:-Inflation-M&A under scrutiny-RBC has eyes on Europe
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BOC and reconciliation with Indigenous people

The Bank of Canada and other central banks, in conjunction with indigenous leaders want reconciliation and better economic outcomes for individuals. This video explores what is happening, gives the back story and sets the stage for a more in-depth analysis.
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Nov 26 FIRE report

Inflation and tariffs hit Trudeau in the face. Oil route as new strain goes viral. BNPL benefits questioned and investors open their wallets to receive dividends.
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FSIM FIRE report Nov 23

Duobank/Fairstone merger & Amozon boycott of Visa along with recent banking, insurance and real estate news from Canada.
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Nov 18th FIRE report

The latest financial news from the financial services industry monitor. Insurance companies should know that in 1990 BC flooding devastated the same flood plains as today. This report features coverage of insane inflation, interest rates hikes and the ongoing real estate melt-up.
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Poloz debunked, Nov 12 FIRE report

Poloz is wrong about inflation, university pension funds are out of their league, Home Capital run away, real estate wars and more from the financial services industry monitor.
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Central bank digital currencies: foundational prin

Central bank digital currencies: foundational principles and core features
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Nov 5th FIRE report

Topics todayDividends are backHigher interest rates are comingCOP26: Central bankers making miners richTO real estate melt-up
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FIRE report November 2nd

The latest Canadian FIRE news covering inflation risk and opportunities, Canadian Western bank expansion, governance and stablecoins.
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Canadian real estate February 24

Recap of recent real estate news in Canada. Tiff Macklem and market exuberance, cottage country price appreciation and the rise of lumber prices.
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Real estate: Feb 9, bulls vs bears

Bulls versus the bears, this week in the Canadian real estate industry.
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Feb 1, The Dumb Money Real Estate Vid

We a living a ponzi real estate market and the economy is at risk. Yet Doug Porter, economist BMO, is on record as saying Candian\'s want to pay more for houses. Yes, you can\'t make this stuff up. This video discusses the issues related to Porter\'s statement and explains why he is wrong.
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January real estate report 2021

2020 was a record year, except for condos. Montreal REM sites the exception to this rule. This video shares insights regarding the Canadian real estate segment.
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December 4th real estate report

Taxes are going up, TO condo prices are going down and recreational property up 15% to 40% in the Canadian market.
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Real estate, mortgage debt to income ratio improve

The mortgage debt to income ratio declined despite the pandemic. In this issue I discuss real estate stalling and immigration's impact on home prices.
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Real estate: fiscal conservatism/ponzi neoliberali

This video is intended to give viewers an understanding of the economic ideas behind Canada's potential housing bubble. This video also explains why Siddal, President and CEO of the CMHC, was likely pushed from his post.
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Caution for real estate investors, Oct 14th report

October 14th real estate report describing the issues in the market the last two weeks.
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Canadian bank industry overview - part 1

Overview of Canadian banking industry. This multi-part series looks at issues facing Canadian banks from a variety of angles. Part 1 examines the types of banks and scale using ROE and EBITDA as measures.
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Why insurance should partner with flood-claim.com

'Pros on the Go', a Fierce Tartan company are seeking insurance partners to pilot its new solution for streamlining the claims process.
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Canadian large bank comparison

Using financial data, Mark Sibthorpe compares the performance of TD bank to its rivals. TD grew faster in 2017 than its rivals, but was cited for aggressive sales practices.
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Current state of fintech in Canada

Mr. Michael R. King, Tangerine Chair in Finance and Co-Director, Scotiabank Digital Banking Lab / Ivey Business School at Western University
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XE.com explains their Big Data and AI strategy.

This video covers XE.com's presentation at the AI, Big Data and Analytics event which took place in Toronto February 7/8, 2018. Cecelia Tamez and Jean Louis provide insights into their evolution and winning strategy.
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Greenpeace urges TD bank boycott

Greenpeace's campaign to stop TD financing the oil sands is delusional. Trillions of dollars are at stake for the banks and the Canadian economy. This video explores the related financial issues.
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Insurance flood US vs Can comparison.

This video provides an overview of the main differences between Canada's approach to overland flooding versus the US approach.
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Canadian bank industry overview part 5

Canadian bank overview part 5, medium-large banks. Banks include Manulife, Tangerine and Laurentian Bank.
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Canadian banking industry overview part 4

Canadian banking industry overview of Canadian Tire Bank, Presidents Choice Financial, Equitable Bank, B2B Bank
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Part 3 Canadian bank industry overview

Overview of small-medium size banks in Canada. Banks covered include Versabank, Hollis Bank, Equity Bank and Caisse Populaire Acadienne.
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Canadian banking overview - part 2

Review of small banks including Bridgewater,Vancity Bank, Concentra, Wealth One, Zag...
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Death to bitcoin, long live bitcoin

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.
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RBC to integrate Wave Technologies

RBC invested $24 million into Wave Technologies and now they will roll out Waves accounting, invoicing, reporting and billing platform to SMEs.
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Deposits have skyrocketed since the start of the p

Canadian banks have increased their deposits by $127 billion since the start of the pandemic. This video uses charts to show which banks gained the most and how.
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About

About BankNews TV: financial services industry monitor (FSIM), analytics and research

Latest news and events for Canadian financial service companies, analytics, fintech and AI. BankNews.TV provide the latest technology news and reports for banks and insurance companies looking to compete in a rapidly changing market.

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Research

Part 2: The Merchant Loyalty Industrial Complex Collapse  

fsim.ca/docs/Credit_cards_Part_2v4.pdf

Mark Sibthorpe

Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.

This report digs under the surface and uncovers why loyalty is going the way of the dodo.


Merchants should not waste time fighting card networks  

fsim.ca/docs/Card_fees_ongoing.pdf

Mark Sibthorpe

This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.


The full story of SVB March 12th, 2023  

fsim.ca/docs/SVB_special_report2.pdf

Mark Sibthorpe

Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.


March 2023 bank earnings summary  

fsim.ca/docs/bankearningsfriday.pdf

Mark Sibthorpe

This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.


Real estate report: October 30th, 2020  

fsim.ca/docs/Oct30rereportv1.pdf

Mark Sibthorpe

The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.


VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic  

fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf

Press Release

VersaBank (TSX:VB) (“VB” or the “Bank”) today announced the implementation of its new high security Virtual Private Network (VPN) remote access software solution, developed in partnership with Tailscale, a leading provider of secure network connectivity solutions. The software enables VersaBank employees to securely and directly connect to all the Bank’s servers across multiple offices and cloud providers, using two factor authentication and with every connection encrypted. The Tailscale-based solution uses the Office 365 setup and Windows client/server applications that the Bank already had in place.


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

Whether he knew it or not, Tom Reid, a senior vice-president at Sun Life, made a case for the behavior modification concept ‘Nudging’ when he recently proposed auto-enrolling Canadians in his company’s pension plans. Sun life cover 1.2 million Canadians, about 60% of the eligible employees.
According to Reid,


CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

In an earlier report BankNews.TV expressed concerns about CWB. Here are 5 charts that show cause:
1. First earnings drop in years;
2. Deposits dropping which will increase cost of funds in the future.


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.

This report looks at the issues facing Canadian banks in the event of a Bank Rate rise.  


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

Canadian and London real estate, like Macau, may also be a convenient means for China’s elite to move money offshore; with the deleterious effect of driving up home values. Louise Shelley`s research concurs. In a published paper written for the National Defense University, Shelley argues that money laundering in real estate (MLRE) increases prices.


Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Readers of this document will be presented with monetary policy issues and facts
that show the USD will likely remain the dominant reserve currency, despite
questionable Chinese practices, record US debt levels, and a shaky economy.


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

Cheap oil has pushed the Bank of Canada's governor, Stephen Poloz onto a slippery slope. For some background on this, take October 22nd, when Poloz bid farewell to forward guidance, resulting in yesterday's surprise rate cut. A cut that has enraged TD and other banks, which see this as eroding profits.
 


Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

This report explores Canada's strategies to compete globally. The report begins with an analyses of the housing market, because housing is the canary in the coal mine; explores what happens in the event of collapse; and analyses the underlying problem causing Canada to be uncompetitive.
 


Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants  

fsim.ca/docs/booksample.pdf

Merchants that want to understand loyalty, credit and mobile payments should read this book. It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and 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.
 


Guide to system selection  

fsim.ca/docs/gssnow.pdf

Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.


News feed

LYNX AIR SHUTTING DOWN MONDAY AFTER FILING FOR CREDITOR PROTECTION

G&M (2024-02-23)

The airline cited “significant headwinds” over the past year including rising costs, high fuel prices, exchange rates, increasing airport charges and a difficult economic and regulatory environment. “Operating


ONTARIO HOUSING SUPPLY OVERSTATED BY ALMOST 1 MILLION, LAND DEVELOPMENT STUDY REVEALS

FP (2024-02-23)

According to KPEC, many of the units counted by the RPCO are not ready for construction due to a lack of approvals, permits, or servicing allocations, with others previously rejected by municipal councils or under appeal to the Ontario Land Tribunal. Furthermore,


B.C. INTRODUCES INDIGENOUS LOAN GUARANTEES UP TO $1-BILLION IN NDP BUDGE

G&M (2024-02-23)

British Columbia plans to launch an Indigenous loan-guarantee program backstopped by up to $1-billion in government funds, embracing a model already operating in Alberta, Ontario and Saskatchewan. The


QUEBEC PENSION HIT WITH REAL ESTATE LOSS AS ‘HOSTILE’ MARKET PERSISTS

Bloomberg (2024-02-23)

The fund manager posted a 6.2%


CHINA’S CENTRAL BANK TRIES TO CATCH MARKETS OFF GUARD WITH SURPRISE EASING

Bloomberg (2024-02-23)

Constrained on all sides, China’s central bank is aiming to squeeze more value out of its policy actions by catching markets unaware with surprise easing aimed at putting a floor under the struggling economy.


SUCCESSION TALK LOOMS FOR TD’S CEO, JEFFERIES ANALYSTS SAY

Bloomberg - Christine Dobby (2024-02-23)

Succession planning is emerging as a key theme for Canada’s biggest lenders this year, particularly at Toronto-Dominion Bank, according to a new report from Jefferies Financial Group Inc.


WHY DO WE STILL HAVE CHEQUES?

CBC (2024-02-23)

Today we can pay by credit and debit card, Apple Pay, e-transfer and — cheque? Producer Ellis Choe explains why we still need them.


ANGRY FRENCH FARMERS WITH TRACTORS ARE BACK TO PARIS FOR ANOTHER PROTEST

Yahoo Finance (2024-02-23)

The latest protest comes three weeks after farmers lifted roadblocks around Paris and elsewhere in the country after the government offered over 400 million euros ($433 million) to address their grievances over low earnings, heavy regulation and what they describe as unfair competition from abroad.


SWISS STILL LOVE PHYSICAL CASH DESPITE RISE OF PAYMENT APPS

Yahoo Finance (2024-02-23)

Around 92% of companies which operate face-to-face businesses in Switzerland accept cash, while just 59% accept payment via apps, the study found.


GOLDMAN SACHS NO LONGER EXPECTS US INTEREST RATE CUT IN MAY

Yahoo Finance (2024-02-23)

Goldman Sachs' analysts no longer expect a U.S.


BRITISH COLUMBIA TO IMPOSE UP TO 20% TAX ON HOMES SOLD WITHIN TWO YEARS

Reuters (2024-02-23)

The proposal is subject to legislative approval and is separate from federal property flipping rules.


CANADIAN MORTGAGE FRAUD RAMPANT AT HSBC, LAWMAKER DEMANDS INVESTIGATION

Better Dwelling (2024-02-23)

Cooper’s investigation reveals Toronto has its very own unique real estate money laundering model, not unlike Vancouver.


HOMES, NOT HOLDINGS: THE CASE FOR BANNING CORPORATE INVESTMENT IN CANADIAN HOUSING

G&M - Hossein Maleki (2024-02-22)

This past December, Toronto-based developer Core Development Group announced its intent to add 10,000 single-family houses to its initial plan to buy up $1-billion worth of properties for renting.


FED MINUTES SUGGEST OFFICIALS ARE SEEKING SMALLEST BALANCE SHEET POSSIBLE

Bloomberg - Alex Harris (2024-02-22)

Federal Reserve policymakers are gearing up for a bigger discussion about the central bank’s balance sheet, but for now it’s clear officials are keen to make it as small as possible. In


CANADIAN BANKS' LIMITED OFFICE LOANS OFFER INVESTORS SOME COMFORT

Yahoo Finance - Nivedita Balu (2024-02-22)

Around 10% of total loans at the top three Canadian banks involved CRE, while National Bank of Canada's exposure was 8%, the banks said at the end of fiscal 2023.


CREDIT CARD INTEREST RATE MARGINS COST CONSUMERS EXTRA $25 BILLION, CFPB SAYS

Yahoo Finance (2024-02-22)

Major credit issuers raised the average APR margin by 4.3


BIG BANKS NEEDED M&A TO ROAR BACK IN 2024. IT’S HAPPENING.

Yahoo Finance - David Hollerith (2024-02-22)

The volume of US mergers and acquisitions is up 130% so far this quarter, at $288 billion, according to data from Dealogic, while worldwide M&A is up 56% to $453 billion.


NIKKEI PARTIES LIKE IT'S 1989; SCALES RECORD HIGH

Reuters - Ankur Banerjee and Rae Wee (2024-02-22)

Japanese stocks raced to a record peak on Thursday, breaking levels last seen in 1989 during the halcyon days of the bubble economy, as cheap valuations and corporate reforms lure foreign money looking for alternatives to battered Chinese markets. The


BANKS SHOULD BE MANAGING RISKS FROM FINTECH PARTNERSHIPS, REGULATOR SAYS

Reuters (2024-02-22)

While the OCC welcomes applications from fintech companies for a national bank charter, the regulator doesn't plan to give those firms any special consideration, said Hsu. "We


BMO PRIVATE WEALTH ADDS LEADERS FROM TD, RBC AND BROADRIDGE

Investment Executive - Melissa Shin (2024-02-22)

Joining BMO Private Wealth is Craig Meeds as head of wealth advice, Canada; Martha Moen as head of operational excellence and growth; and Maarten Jansen as head of North American products and platforms.


ADDRESSING ISSUES IMPACTING THE ECONOMIC AND FINANCIAL OUTLOOK

TD (2024-02-22)

This report responds to a myriad of questions from inflation, housing, risks, the potential for recession...


GLOBAL HOUSE PRICES CLOSE TO BOTTOMING OUT, BIS STATS SHOW

Central Banking - Daniel Hinge (2024-02-22)

Global house prices appear to be close to bottoming out, despite widespread concerns among economists that high interest rates would trigger a sharp correction.


BANKING DESERTS INCREASE IN ‘MAJORITY-MINORITY’ AREAS OF US

Central Banking (2024-02-22)

The report’s authors, Alaina Barca and Harry Hou, say the shutdowns triggered by Covid-19 accelerated a mass closure of bank branches that began during the 2008 financial crisis: “Since 2020, the pace of bank branch closures across the country has doubled.”


WHY WERE ECONOMISTS SO WRONG? INFLATION HAS COOLED AND THE ECONOMY IS STRONG

Youtube - Ed Yardeni (2024-02-22)

High inflation rarely has been tamed without precipitating a recession.


MARK MITCHELL'S ANALYSIS ON TODAY'S INFLATION RATE READ OUT, AND WHY THE CASE FOR CUTS ANYTIME SOON IS STILL UNLIKELY

Reddit - Mark Mitchell (2024-02-21)

Interesting video, but the comments are the gems.


BOC’S MACKLEM HIGHLIGHTS INFLATION FIGHTING ERRORS, LESSONS LEARNED IN NEW ESSAY

G&M (2024-02-21)

The surge of inflation over the past three years has been a “stark reminder” that central banks can’t always ignore supply shocks and hope price increases stabilize on their own, Bank of Canada Governor Tiff Macklem wrote in an essay published last week as part of a broader soul-searching effort


CANADA’S INFLATION RATE TUMBLES TO 2.9 PER CENT, BACK INSIDE BOC’S TARGET RANGE

G&M (2024-02-21)

Canada’s rate fell far enough in January to place it within the Bank of Canada’s target range, surprising analysts and reigniting speculation about a potential interest-rate cut this spring. The


HSBC’S PROFIT SINKS ON $3 BILLION CHARGE AT CHINESE BANK

Bloomberg (2024-02-21)

reported fourth-quarter profit fell 80% after taking unexpected charges on holdings in a Chinese bank and from selling its French retail operations.


BROOKFIELD EXPLORES NEW INFRASTRUCTURE FUND MONTHS AFTER RECORD CLOSE

Bloomberg - Layan Odeh (2024-02-21)

Brookfield is beginning early-stage discussions about its next infrastructure product, two months after it closed a record fund that it’s deploying into transportation, telecom and other hard assets.


CREDIT FUND THAT BEAT CANADA’S MARKET IS GEARING UP FOR RATE CUTS

Bloomberg (2024-02-21)

A Toronto-based /n that outperformed the Canadian corporate bond market three years in a row is buying up longer-term notes in anticipation that the Bank of Canada will soon make its first rate cuts since 2020.


BIDEN CANCELS $1.2 BILLION OF FEDERAL STUDENT LOANS

Yahoo Finance (2024-02-21)

The move – which benefits those enrolled in the government’s Saving on a Valuable Education (SAVE) plan – wipes out loans for those who borrowed less than $12,000 for their higher education.


ASSANGE CHARGED FOR 'INDISCRIMINATELY' PUBLISHING SOURCES' NAMES, U.S. LAWYERS SAY

Reuters (2024-02-21)

Assange "indiscriminately and knowingly published to the world the names of individuals who acted as sources of information to the U.S.",


BOC NEEDS TO NARROW INFLATION METRICS: TD

Investment Executive - James Langton (2024-02-21)

The report also argues the central bank has limited ability to curb housing costs in the short term.


MACKENZIE LAUNCHES HALAL MUTUAL FUND

Investment Executive - Jonathan Got (2024-02-21)

The Mackenzie Shariah Global Equity Fund will help Muslim Canadians invest according to their faith.


BARCLAYS BOSS HAS A BOLD TURNAROUND PLAN. WILL IT WORK?

FT (2024-02-21)

Barclays’ most important strategy day in almost a decade faced some technical issues on Tuesday as halfway through the presentation the bank struggled to get its webcast to work.  That


CAPITAL ONE FACES STEEP BILL TO SHIFT FROM DIGITAL LENDER TO TOLLKEEPER

FT - Roula Khalaf (2024-02-21)

When the bill comes due, Capital One Financial will need to show it has the funds.


CANADA JUST SAW THE LARGEST FOREIGN INVESTOR SELL OFF EVER

Better Dwelling (2024-02-21)

“Over the past three decades, a “normal” year would see net buying of about $12 billion—an inflow of about $1 billion a month, not the net outflow of $4 billion per month seen in 2023,” says Porter, emphasizing how unusual this trend is.


WHAT IS QUANTITATIVE TIGHTENING AND WHAT HAPPENS WHEN THE BANK OF CANADA STOPS IT?

FP (2024-02-20)

The Bank of Canada could wind down its quantitative tightening program as soon as April and will most likely do so no later than June, an economist at the Royal Bank of Canada predicted in a report this week.


WHY MARKET BETS ON INTEREST RATE CUTS ARE SLIPPING

FP (2024-02-20)

Earl Davis, head of fixed income at BMO Global Asset Management, talks with Financial Post’s Larysa Harapyn about how data on inflation, jobs and wages and the outlook for the economy have have forced markets to scale back their interest-rate-cut expectations.



CRACKS START TO EMERGE IN GLOBAL CENTRAL BANK SYNCHRONICITY

Bloomberg (2024-02-20)

The four-year synchronization among developed-world central banks might be about to weaken as domestic drivers take over from global trends in determining price outlooks.


HOW MUCH DEBT IS EACH GENERATION OF CANADIANS CARRYING, AND HOW DO YOU COMPARE?

G&M (2024-02-20)

The survey results are shown on a decade-by-decade basis – people aged 18 to 29, 30 to 39 and so on, up to 70-plus.


"DEPARTURES AT ROTHSCHILD CANADA SHOW HISTORY MEANS NOTHING IN INVESTMENT BANKING

G&M (2024-02-20)

Rothschild and several other long-established platforms have dropped off the league tables that demonstrate which banks are winning takeover and financing assignments from Canadian companies. As


ECONOMISTS EXPECT INFLATION EASED IN JANUARY, BUT HOUSING STILL ‘THORN’ IN BOC’S SIDE

G&M (2024-02-20)

As the Bank of Canada waits for the right moment to start cutting interest rates, some economists are arguing that its decision shouldn’t hinge on the housing market. Canada’s


A $6 TRILLION WALL OF CASH IS HOLDING FIRM AS FED DELAYS CUTS

Bloomberg - Alex Harris (2024-02-20)

Investors are plowing billions into money-market funds by the day.


FAIRFAX FINANCIAL HOLDINGS REPORTS Q4 PROFIT DOWN FROM YEAR EARLIER

Yahoo Finance (2024-02-20)

Fairfax Financial Holdings Ltd.


HOME DEPOT SALES DROP FOR FIFTH STRAIGHT QUARTER ON WEAK DEMAND

Yahoo Finance - Olivia Rockerman (2024-02-20)

Comparable sales fell 3.5%


CANADIAN MORTGAGE CREDIT CONTINUES TO SLOW, CREDIT CARD DEBT SURGES

Better Dwelling (2024-02-20)

Canadian mortgage debt continues to rise, but barely.


IN THE WAKE OF BUY NOW, PAY LATER, WE COULD BE GETTING DINE NOW, PAY LATER

G&M - Preet Banerjee (2024-02-20)

First we got Buy Now, Pay Later (BNPL).


BANKS "BARKING UP THE WRONG TREE" OVER CBDC DEPOSIT FLIGHT SAYS ECB

Finextra (2024-02-20)

"Stablecoins, e-money institutions and other narrow bank constructs, some sponsored by big tech companies with huge customer bases, do not care about the role of banks in the economy," states the ECB.


CPP FUND CLOSING IN ON $600 BILLION AFTER STOCK MARKET DRIVES 3.4% GAIN

FP (2024-02-16)

Roaring equity markets as 2023 drew to a close helped boost assets managed by the /nCanada Pension Plan Investment Board/n to $590.8


SNOWBIRD HAVEN IN FLORIDA GETTING SLAMMED BY HIGH HOME INSURANCE RATES, DRIVING AWAY BUYERS

FP - Michael Sasso (2024-02-16)

Florida’s southwestern coast — long one of America’s fastest-growing regions — is losing some of its boom town swagger as a home-insurance crisis and other soaring costs make homes unaffordable. Homeowners


MARKETS ARE BACK IN RECORD TERRITORY, IT MIGHT BE A GOOD TIME TO INVES

G&M (2024-02-16)

In this way, the previous peak of $110 has become what chart watchers call a “point of resistance.” It


THE 2024 GLOBE AND MAIL DIGITAL BROKERAGE RANKING: WHO RULES, AND WHO’S COMING ON STRONG

G&M - Rob Carrick (2024-02-16)

Back in 1984, Toronto-Dominion Bank was the first big bank to open what was then called a discount brokerage. TD


FED’S BOSTIC SAYS MAY TAKE ‘SOME TIME’ TO HIT RATE-CUT THRESHOLD

Bloomberg - Steve Matthews (2024-02-16)

Federal Reserve Bank of Atlanta President Raphael Bostic said there’s no rush to cut interest rates with the US labor market and economy still strong, and cautioned it’s not yet clear that inflation is heading sustainably to the central bank’s 2% target. “The


DREAM OFFICE REIT SLASHES MONTHLY PAYOUT BY 50% AS UNITS TRADE AT 2008 FINANCIAL CRISIS LEVEL

G&M (2024-02-16)

"Dream Office REIT, once one of Canada’s leading real estate investment trusts, is slashing its monthly distribution in half, as higher interest rates bite and management comes to terms with a slower return to office than originally envisioned. The



DOZENS OF BANKS RAPIDLY PILED UP COMMERCIAL PROPERTY LOANS

Bloomberg - Ann Choi (2024-02-16)

About two dozen banks in the US had portfolios of commercial real estate loans in late 2023 that federal regulators indicated would merit greater scrutiny, a sign more lenders may face pressure from authorities to bolster reserves./nA


THE BRUTAL REALITY OF PLUNGING OFFICE VALUES IS HERE

Bloomberg (2024-02-16)

The shakeout in the $20 trillion US commercial real estate market has long been delayed for a simple reason: No one could figure out just how much properties were worth.


BANK OF CANADA’S ‘BUFFET’ OF INFLATION DATA MUDDIES RATE-CUT FORECASTS

Bloomberg - Randy Thanthong-Knight (2024-02-16)

The central bank has no less than six indexes it monitors to get a grasp on underlying price pressures.


MANULIFE FINANCIAL REPORTS QUARTERLY EARNINGS OF $1.66 BILLION

G&M (2024-02-15)

up 81 per cent from $915-million in the same quarter last year. The



RBC UNIT CITY NATIONAL BANK CUTS NEARLY 100 JOBS AFTER FINANCIAL LOSSES

G&M (2024-02-15)

City National Bank, the American unit of Royal Bank of Canada, has cut around 100 jobs after recent financial losses, management changes and a regulatory fine of $65-million. “We


SOME HOMEBUYERS, SENSING THE MARKET HAS HIT BOTTOM, REJOIN THE FRAY

Bloomberg (2024-02-15)

Real estate markets in Mississauga, Oakville and other areas west of Toronto have sprinted to a quick start in 2024 but industry players caution that it’s too early to say whether the recent burst of activity will maintain momentum. Pent-up


CANADA'S BUDGET TO CREATE CONDITIONS FOR RATE CUTS, FINANCE MINISTER SAYS

Yahoo Finance (2024-02-15)

But it twice postponed its debt-reduction goals, including in last year's the Fall Economic Statement (FES), when it was made clear that the debt-to-GDP ratio would rise two years in a row.


UK FELL INTO RECESSION AFTER ECONOMY SHRANK 0.3% IN LAST QUARTER

Yahoo Finance (2024-02-15)

The pound slipped against the dollar after the release.


JAPAN UNEXPECTEDLY SLIPS INTO RECESSION, GERMANY NOW WORLD'S THIRD-BIGGEST ECONOMY

Reuters - Leika Kihara and Tetsushi Kajimoto (2024-02-15)

"The economy will continue to lack momentum for the time being with no key drivers of growth." Japan's


GERMANY'S COMMERZBANK POSTS BIGGEST NET PROFIT IN 15 YEARS

Reuters - Tom Sims and Matthias Inverardi (2024-02-15)

Full-year net profit was 2.224


U.S. OFFICE SECTOR PAIN WIDESPREAD FOR BANKS

Investment Executive - James Langton (2024-02-15)

“The combination of a significant increase in interest rates since mid-2022, weaker economic growth, and structural changes such as remote working have led to a sharp drop in demand for commercial real estate globally as well as a decline in value of the underlying collateral.


JPMORGAN AND STATE STREET QUIT CLIMATE GROUP AS BLACKROCK SCALES BACK

FT - Patrick Temple-West and Brooke Masters (2024-02-15)

JPMorgan Asset Management and State Street Global Advisors both confirmed they were leaving Climate Action 100+.


WEALTH MANAGERS WARY OF THE DASH INTO CASH

FT - Sally Hickey (2024-02-15)

Investing in cash for its yield is unlikely to deliver the same return as other assets, even before the impact of inflation is factored in. Data



UK HOUSE PRICES FALL FOR SIXTH MONTH IN A ROW, ONS DATA SHOWS

FT - Valentina Romei (2024-02-15)

UK house prices dropped for the sixth consecutive month in September, according to mortgage provider Halifax, laying bare the effect of high mortgage rates on the property market as Britons struggle to afford new homes. The


CANADIAN BUILDING CONSTRUCTION INVESTMENT FELL SHARPLY BEFORE RATE HIKES

Better Dwelling (2024-02-15)

Canadian building construction investment is virtually flat in real terms.


PROVINCIAL HOUSING MARKET OUTLOOK 2024 SHAPING UP TO BE A BETTER YEAR

TD - Rishi Sondhi (2024-02-15)

Preliminary December data from local real estate boards – released after our latest housing projection – suggests some better than anticipated momentum in housing at the end of last year.


GREAT-WEST LIFECO SEES Q4 EARNINGS RISE TO $740M

Investment Executive (2024-02-15)

The company says that stronger base earnings in Canada were partially offset by individual insurance mortalities and favourable 2022 tax impacts that weren’t repeated in 2023.


AUSSIE BANKS HIT BY OUTAGE AT KEY SUPPLIER

Finextra (2024-02-15)

Data Action, a software company which provides online banking services, has confirmed a series of incidents that have crippled the online banking services of at least six banks, including Ubank, Bank Australia, Defence Bank, Beyond Bank, People’s Choice and P&N Bank.


VIVA WALLET ACQUISITION TURNS SOUR FOR JPMORGAN AS LAWSUITS FILED

Finextra (2024-02-15)

Karonis alleges JPMorgan is trying to drive down the valuation of his business by blocking its entry into the US and new European markets, according to legal documents seen by the Financial Times.


TEMENOS SHARES PLUNGE ON DAMNING REPORT

Finextra (2024-02-15)

"These aggressive accounting practices seemed to be an open secret among many of the former employees we spoke with," writes Hindenburg.


BANK OF CANADA TO HALT QUANTITATIVE TIGHTENING PROGRAM WITHIN MONTHS, RBC SAYS

FP - Derek Decloet (2024-02-15)

The central bank under governor Tiff Macklem has been shrinking its balance sheet for about two years, withdrawing the extraordinary stimulus it provided during the worse phase of the COVID-19 shock.


THERE IS NO VERSION OF REALITY WHERE HOUSING SUPPLY CAN BE RAMPED UP ENOUGH TO MEET THE TIDAL WAVE OF DEMAND

G&M (2024-02-15)

BMO chief economist Doug Porter posted a remarkable chart comparing population growth and housing starts, “Appreciating that we have tilled this ground many times before…but apparently the message is only taking root with a select few … The ongoing and relentless focus on the supply side of the Canadian housing market


PREDICTING GROWTH FOR CLEARING HOUSES AND SCHEME OPERATORS IN 2024

Finextra (2024-02-14)

As payment markets evolve, further progress hinges on open access facilitated by infrastructure modernisation.


AIMCO OPENS NEW YORK OFFICE IN CREDIT PUSH

Bloomberg - Allison McNeely and Paula Sambo (2024-02-14)

Alberta Investment Management Corp.,


THE U.S. BECAME A GLOBAL SAFE HAVEN FOR STOCKS. SO WHY DO INDIVIDUAL COMPANIES CRASH SO EASILY?

G&M (2024-02-14)

Stock markets in the United States are thriving again this year, outshining indexes almost everywhere else around the world, yet there is a peculiar trend playing out for individual U.S.-listed


THE CLOSE: TSX POSTS BIGGEST DECLINE IN 17 MONTHS ON HOT U.S. CPI DATA

G&M (2024-02-14)

North American stocks tumbled on Tuesday after a hotter-than-expected U.S.


ROBINHOOD POSTS SURPRISE PROFIT ON INTEREST INCOME BOOST, TRADING REBOUND

G&M (2024-02-14)

Robinhood Markets posted a surprise profit in the fourth quarter on Tuesday, driven by higher interest income from customers paying back loans and a rebound in trading, sending shares of the online brokerage up 10 per cent after the bell. A


HOW PRIVATE CREDIT GIVES BANKS A RUN FOR THEIR MONEY

Bloomberg - "Kat Hidalgo (2024-02-14)

Need a loan for a new factory or a buyout deal, but don’t like the terms your bank is offering? There’s a $1.6


CITI MAY NEED TO REFOCUS ON REGULATORY FIXES AMID RESTRUCTURING, ANALYSTS SAY

Reuters (2024-02-14)

The bank is working through two 2020 consent orders, in which the U.S.


TD SETTLES SALES PRACTICES CLASS ACTION

Investment Executive - James Langton (2024-02-14)

According to the court’s decision, the plaintiffs accused TD of having “exerted great pressure on its employees to sell products and services in order to achieve its sales objectives.


U.S. HOUSEHOLD DEBT RISING

Investment Executive - James Langton (2024-02-14)

“We expect a continued increase in non-residential consumer loan delinquencies because of still-tight monetary conditions and lending standards, particularly for credit card and other consumer loans — less so for auto loans,” it said.


FINTECH EXODUS CONTINUES AS FAMILY FINANCE APP NOSSO WINDS DOWN

Finextra (2024-02-14)

Founded in 2020 by Youssef Darwich,the second employee at Tide, and Sigurjon Isaksson, an early employee at Eigen Technologies, the Nosso app allows parents to open up junior stocks & shares ISAs and general investment accounts and select investments from a range of ETFs managed by BlackRock.



US FRAUD LOSSES TOP $10BN IN 2023

Finextra (2024-02-13)

Overall losses in 2023 were 14% higher than the previous year, while investment scam losses - at more than $4.6


SUDDENLY, ECONOMISTS ARE PUSHING BACK FORECASTS FOR THE BANK OF CANADA'S FIRST RATE CUT

FP - Pamela Heaven (2024-02-13)

The latest numbers on Canada’s job market have moved the needle on when some economists think the Bank of Canada will make its first interest rate cut. Labour


OTTAWA LEERY OF APPROVING GLOBALIVE CAPITAL TAKEOVER OF WEALTH ONE BANK OF CANADA

G&M (2024-02-13)

Federal banking regulators and national-security agencies will insist on a high bar before Ottawa approves the sale of Wealth One Bank of Canada to Globalive Capital Inc.,


TD BANK TAPS VIRTUAL REALITY TO HELP TELLERS LEARN TO NAVIGATE TENSE SCENARIOS

FP (2024-02-13)

You’re a bank teller standing behind the counter at a local branch.


MACQUARIE BANKER WHO EARNED MORE THAN JAMIE DIMON STEPS DOWN

Bloomberg - Ainsley Thomson (2024-02-13)

O’Kane, who famously earned more than Wall Street chiefs such as JPMorgan Chase & Co.’s


CANADA’S SECURITIES REGULATORS MUST FINALIZE CLIMATE-DISCLOSURE RULES WITHOUT DELAY

G&M (2024-02-13)

It has been well over two years since the Canadian Securities Administrators (CSA) proposed draft National Instrument 51-107 Disclosure of Climate-related Matters.


ROTHSCHILD’S CANADA HEAD ALEX GRAHAM DEPARTS AMID DEAL SLUMP

Bloomberg (2024-02-13)

The head of Rothschild’s Canadian office has left the storied investment bank as it grapples with a prolonged slump in dealmaking that’s hurt the entire industry. Alex


TRUDEAU GOVERNMENT SLAMMED BY AUDITOR OVER PANDEMIC TRAVEL APP

Bloomberg - Brian Platt (2024-02-13)

Canada’s auditor general published a scathing report on a border customs app that was rushed through development during the Covid-19 pandemic, saying the government’s “documentation, financial records and controls were so poor” that the cost couldn’t be precisely determined. Prime


COMMERCIAL-PROPERTY LOANS COMING DUE IN US JUMP TO $929 BILLION

Bloomberg - John Gittelsohn (2024-02-13)

Nearly 20% of outstanding debt on US commercial and multifamily real estate — $929 billion — will mature this year, requiring refinancing or property sales. The


BITCOIN SURGES TO $50,000 FOR THE FIRST TIME SINCE 2021 ON ETF DEMAND

Yahoo Finance - Elijah Nicholson-Messmer and David Pan (2024-02-13)

Bitcoin hovered around $50,000 after scaling the closely watched level for the first time in over two years, a remarkable comeback from the crypto scandals and wipeouts that had cast doubt on the industry’s viability.


EU TAKES FIRST STEP TO USE RUSSIA'S FROZEN ASSETS FOR UKRAINE

Reuters (2024-02-13)

he EU adopted a law to set aside windfall profits made on frozen Russian central bank assets, it said on Monday, in a first concrete step towards the bloc's aim of using the money to finance the reconstruction of Ukraine. The


CANADA’S LABOR MARKET ABSORBING ITS POPULATION BOOM IS “IMPOSSIBLE”: NATIONAL BANK

Better Dwelling (2024-02-13)

To illustrate this point, the bank provided the above chart—the employment-to-population ratio for the GTA.


HOW TO HANDLE CRYPTOCURRENCY ON TAX RETURNS

Investment Executive - Rudy Mezzetta (2024-02-13)

Just holding cryptocurrency does not result in a taxable event.


NUMBER OF CANADIANS WORRYING ABOUT THEIR FINANCES SPIKES TO NEW HIGH

FP (2024-02-12)

The number of Canadians worrying about their day-to-day finances spiked to a new high in January, according to the latest reading from an ongoing survey of financial well-being./nFifty-five


FORGET DOWNSIZING: CANADIAN SENIORS STAYING IN LARGE HOUSES WELL INTO THEIR 80S, DUE IN PART TO LACK OF OPTIONS

G&M (2024-02-12)

James Newcombe, 83, stayed in his roomy home in Georgetown, Ont.,


AS THE FEDERAL GOVERNMENT DITHERS, CANADA’S TECHNOLOGY SECTOR LANGUISHES

G&M (2024-02-12)

Success for technology startups and scale-ups is crucial for Canada’s economic future, yet prospects for this sector are not as bright as they should be. The


SWEDES TURN MORE UPBEAT ON HOUSING WITH RATE CUTS ON HORIZON

Bloomberg (2024-02-12)

Swedish households grew more optimistic on housing prices as the country’s central bank has signaled it may start reducing borrowing costs in the first half of this year./nSEB


EUPEAN RATES LIKELY TO COME DOWN IN 2024

Bloomberg - William Horobin (2024-02-12)

Bank of France Governor Francois Villeroy de Galhau said,“We will probably cut rates this year because we are making progress against inflation,” the policymaker said Friday on LCI television.


INSURERS PAUSE SOME CAR POLICY SALES AFTER UK WATCHDOG INTERVENES AGAIN

Reuters - Huw Jones (2024-02-12)

Britain's financial watchdog said on Friday several insurers have agreed to suspend sales of policies that cover the depreciation of cars after it said it was worried the deals did not offer value for money. The


TD EASY TRADE SUPER BOWL COMMERCIAL WITH DAVID BANKS

Youtube (2024-02-12)

TD Easy Trade Super Bowl Commercial


BANK OF AMERICA SUPER BOWL 2014 TV SPOT, 'U2 CONCERT'

ISpot.tv (2024-02-12)

U2 rocks a full house with their new song, "Invisible."


HOW BANKS AND CREDIT UNIONS MAKE PRICEY SUPER BOWL ADVERTISING PAY OFF

The Financial Brand - Jennifer Robinson (2024-02-12)

A regional ad is also far more budget-friendly, especially given that the Super Bowl is just about the priciest advertising venue around.


RENASANT BANK HERBSTREIT KNOWS BEST STARTING QUARTERBACK

Youtube (2024-02-12)

Protection and 24/7 roadside assistance.


FORMER TD WEALTH EXECUTIVE CRAIG MEEDS DEPARTS

Investment Executive - Kaatie Keir (2024-02-12)

Meeds had been vice-president and head of investment management practices and wealth insurance services since 2018, and had worked with the bank in management roles for the past 18 years.


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LYNX AIR SHUTTING DOWN MONDAY AFTER FILING FOR CREDITOR PROTECTION

G&M (2024-02-23)

The airline cited “significant headwinds” over the past year including rising costs, high fuel prices, exchange rates, increasing airport charges and a difficult economic and regulatory environment. “Operating


ONTARIO HOUSING SUPPLY OVERSTATED BY ALMOST 1 MILLION, LAND DEVELOPMENT STUDY REVEALS

FP (2024-02-23)

According to KPEC, many of the units counted by the RPCO are not ready for construction due to a lack of approvals, permits, or servicing allocations, with others previously rejected by municipal councils or under appeal to the Ontario Land Tribunal. Furthermore,


B.C. INTRODUCES INDIGENOUS LOAN GUARANTEES UP TO $1-BILLION IN NDP BUDGE

G&M (2024-02-23)

British Columbia plans to launch an Indigenous loan-guarantee program backstopped by up to $1-billion in government funds, embracing a model already operating in Alberta, Ontario and Saskatchewan. The


QUEBEC PENSION HIT WITH REAL ESTATE LOSS AS ‘HOSTILE’ MARKET PERSISTS

Bloomberg (2024-02-23)

The fund manager posted a 6.2%


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CANADIAN MORTGAGE FRAUD RAMPANT AT HSBC, LAWMAKER DEMANDS INVESTIGATION

Cooper’s investigation reveals Toronto has its very own unique real estate money laundering model, not unlike Vancouver. The Toronto Model involves purchasing a home with a mortgage obtained with fake income, verified by a fraudulent remote job overseas. Payments are then made with overseas funds deposited into their account by a laundering broker on the other end. Enterprising entrepreneurs then need more properties as their “income” grows.


BRITISH COLUMBIA TO IMPOSE UP TO 20% TAX ON HOMES SOLD WITHIN TWO YEARS

The proposal is subject to legislative approval and is separate from federal property flipping rules. The move is aimed at discouraging speculation which can push prices of residential properties quickly higher.


GOLDMAN SACHS NO LONGER EXPECTS US INTEREST RATE CUT IN MAY

Goldman Sachs' analysts no longer expect a U.S. interest rate cut in May and see four 25 basis point cuts this year, as policymakers' rhetoric suggests they are in no rush. Federal Reserve Governor Christopher Waller said on Thursday he needed to see a few more months of inflation data to check the economy was on track toward price stability. "Because there are only two rounds of inflation data and a little over two months until the May (Fed) meeting, his comments suggest to us that a rate cut as early as May, which we had previously expected, is unlikely," Goldman Sachs analysts said in a note. They now forecast an extra cut next year instead, with an unchanged terminal rate forecast of 3.25-3.5%.



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All amounts in millions of dollars