Part 2: The Merchant Loyalty Industrial Complex Collapse  

fsim.ca/docs/Credit_cards_Part_2v4.pdf

Mark Sibthorpe

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

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

Merchants should not waste time fighting card networks  

fsim.ca/docs/Card_fees_ongoing.pdf

Mark Sibthorpe

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

The full story of SVB March 12th, 2023  

fsim.ca/docs/SVB_special_report2.pdf

Mark Sibthorpe

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

March 2023 bank earnings summary  

fsim.ca/docs/bankearningsfriday.pdf

Mark Sibthorpe

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

Real estate report: October 30th, 2020  

fsim.ca/docs/Oct30rereportv1.pdf

Mark Sibthorpe

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

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

fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf

Press Release

2014 FSIM when Bernanke visited Montreal  

fsim.ca/docs/MockBernanke.pdf

Mark Sibthorpe

Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.

Eisman's big Canadian bank short  

fsim.ca/docs/eisman2.pdf

Mark Sibthorpe

I have been reporting on Steve Eisman's short position for quite some time.  As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.

VersaBank Beta-Testing Its New, High Volume Mortgage Finance App   

fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf

Press Release

VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.

How and why you need to defend your brand against disruptors  

Mark Sibthorpe

Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.

Kick the can(nomics)  

fsim.ca/docs/Kick.pdf

Mark Sibthorpe

Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.

ScoreCard Bill Morneau, Canada's Minister of Finance  

fsim.ca/docs/ScoreCardMorneau.pdf

Mark Sibthorpe

This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:

Observations and overview of 2018 NB flood support from government and insurance companies.  

fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf

Mark Sibthorpe

Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:

"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.

"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.

With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.

Update Argentina: a sign of the times  

fsim.ca/docs/Update Argentina_ a sign of the times.pdf

Mark Sibthorpe

Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.

Summary of Canada's flood news, 2017 to present  

fsim.ca/docs/Summary-of-flood-news-2017-present.pdf

Mark Sibthorpe

This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.

Banking on Pot  

fsim.ca/docs/c10191_banking-on-pot.pdf

SBS

As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).

Canadian banking industry overview  

Mark Sibthorpe

The industry overview is divided into 5 parts:

Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks

2014 Mobile payments the Apple pay way  

fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf

Mark Sibthorpe

With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives. 

Death to bitcoin, long live the blockchain   (See full report)

Mark Sibthorpe

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

TD bank industry conduct  

fsim.ca/docs/tdind2.pdf

Mark Sibthorpe

TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.

Book review: Back from the Brink  

fsim.ca/docs/backbrink.pdf

Mark Sibthorpe

This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.

Footnote 151  

fsim.ca/docs/footnote151.pdf

Mark Sibthorpe

Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks. 

Save the Canadian economy now  

fsim.ca/docs/helecopter-money.pdf

Mark Sibthorpe

Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.

Reasons financial service companies should consider gamification  

fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf

Mark Sibthorpe

Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.

National Bank Special Report  

fsim.ca/docs/NatBSpec.pdf

Mark Sibthorpe

According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”

Will Canadian banks charge companies for deposits?  

fsim.ca/docs/depgrowthimpact2.pdf

Mark Sibthorpe

In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.

Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess  

fsim.ca/docs/ctfsfinal.pdf

Mark Sibthorpe

Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.

Finance minisiter scorecard August 26, 2015  

fsim.ca/docs/Scorejo-August-2015.pdf

Mark Sibthorpe

This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.

Xtreme Branch  

fsim.ca/docs/xbranch.pdf

Mark Sibthorpe

Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.

Canadian Nudge  

fsim.ca/docs/nudge.pdf

Mark Sibthorpe

CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

BNTV Overview  

fsim.ca/docs/overviewpdf.pdf

BNTV

BankNews.TV Publishing Corp services overview document:

• Analytics
• Financial services industry monitor (FSIM) industry briefings and developments reports
• Research

Challenger banks not a threat to big banks  

fsim.ca/docs/challenger.pdf

Mark Sibthorpe

This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.

Gamification of financial data project  

fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf

Mark Sibthorpe

This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.

The impact a rate rise will have for Canadian banks  

fsim.ca/docs/irr-f.pdf

Mark Sibthorpe

Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.

FIFA: the new goldenballs  

fsim.ca/docs/goldenballs.pdf

Mark Sibthorpe

Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.

Scorecard Minister of Finance: JIm Flaherty  

fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf

Mark Sibthorpe

March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.

Sample RFP for a Loyalty Program  

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

Mark Sibthorpe

Merchants extend financial services  

fsim.ca/docs/merchantfs.pdf

Mark Sibthorpe

Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.

Hot Money: real-estate  

fsim.ca/docs/hotmoney.pdf

Mark Sibthorpe

Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.  

fsim.ca/docs/gq4risk.pdf

Mark Sibthorpe

Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.

Canadian Western Bank Competitive Forecast  

fsim.ca/docs/cwbf.pdf

Mark Sibthorpe

Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.

Liquid Canada: the tipping point  

fsim.ca/docs/Liquid.pdf

Mark Sibthorpe

This report examines liquidity issues in the Canadian financial service industry.

Bank Fees  

fsim.ca/docs/Bank fees.pdf

Mark Sibthorpe

Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.

Cheap Oil Report  

fsim.ca/docs/co2.pdf

Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

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

fsim.ca/docs/booksample.pdf

Guide to system selection  

fsim.ca/docs/gssnow.pdf

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

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

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

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

'NEOBANK IN A BOX' STARTUP FINTECH FARM RAISES $32 MILLION

Finextra (2024-05-13)

Fintech Farm’s first project, Leobank, was launched in 2021.

SHOPIFY EXECUTIVE EARNED US$76-MILLION IN 2023, FAR OUTPACING CEO’S COMPENSATION

G&M - David Milstead (2024-05-13)

The best-paid Shopify Inc.

TD BANK’S $20-BILLION QUESTION: WAS A GIANT EXPANSION BET ON THE UNITED STATES WORTH IT?

G&M - Tim Kiladze (2024-05-13)

Mr.

CUSTOMER WHO FILED COMPLAINT AGAINST TD BANK REFUSES TO SIGN GAG ORDER TO GET COMPENSATION

CBC - Erica Johnson, Kimberly Ivany (2024-05-13)

Guanghu Cui was poring over his TD Bank statements in March, preparing to pay taxes for his small immigration consulting firm in Oakville, Ont.,

STRONG WALMART EARNINGS MAY ALREADY BE PRICED IN WITH SHARES NEAR RECORD

Yahoo Finance - Siddharth Cavale and Noel Randewich (2024-05-13)

Walmart's stock has climbed 15% so far in 2024, better than the S&P 500's 9% rise, increasing pressure on the company to provide strong results.

GOLDMAN STRATEGISTS SAY LOSS-MAKING US COMPANIES FACE RATES RISK

Yahoo Finance - Sagarika Jaisinghani (2024-05-13)

Riskier US stocks have underperformed the S&P 500 Index this year as sticky inflation raised concerns of higher-for-longer interest rates.

SUN LIFE SHARES SLUMP WITH U.S. DENTAL BIZ RECOVERING ONLY IN 2025

Reuters - Nivedita Balu (2024-05-13)

Shares of Sun Life Financial (SLF.TO),

HOW TD'S MONEY-LAUNDERING CRISIS IS MAKING ITS SUCCESSION DILEMMA ‘MESSY AND COMPLICATED’

FP - Barbara Shecter (2024-05-13)

Succession talk had been in the air even before TD disclosed last August that its anti-money-laundering controls were being probed by authorities in the United States, including the U.S.

BANK OF CANADA SAYS NATION'S RENTERS SHOWING SIGNS OF FINANCIAL STRAIN

FP (2024-05-13)

Senior deputy governor Carolyn Rogers, who has previously raised concerns about renters, said the data compiled suggests there is stress in these households. “After

IA FINANCIAL POSTS NET INCOME OF $233 MILLION IN Q1

Investment Executive - Jonathan Got (2024-05-13)

iA Financial had $229.3

SUN LIFE POSTS FIRST-QUARTER NET INCOME OF $875 MILLION

Investment Executive - Jonathan Got (2024-05-13)

The Canadian division was down about 2% to a net income of $310 million, as increased death payouts offset gains in business growth.

MORTGAGE INSURER CAPITAL ADEQUACY TEST - FILING INSTRUCTIONS

OSFI (2024-05-13)

All federally regulated mortgage insurance companies are required to complete a uniform Mortgage Insurer Capital Adequacy Test (MICAT) return each quarter.

FINTRAC FINES CRYPTO FIRM BINANCE $6-MILLION OVER ANTI-MONEY LAUNDERING SHORTFALLS

G&M - Alexandra Posadzki (2024-05-10)

Canada’s anti-money-laundering agency has imposed a $6-million penalty on the world’s largest cryptocurrency exchange, Binance Holdings Ltd.,

SUN LIFE’S FIRST-QUARTER PROFIT FALLS ON HIT FROM HIGHER MORBIDITY CLAIMS

G&M (2024-05-10)

Sun Life Financial reported a fall in first-quarter profit on Thursday, hurt by higher morbidity claims. The

BROOKFIELD ASSET MANAGEMENT SEES FIRST-QUARTER PROFIT DROP, PREPARES TO RAMP UP DEAL-MAKING

G&M - James Bradshaw (2024-05-10)

Brookfield Asset Management Ltd.BAM-TBAM-T

SHOPIFY SHARES SINK AS COMPANY POSTS Q1 LOSS, FORECASTS SLOWER REVENUE GROWTH

CP24 (2024-05-10)

The e-commerce software company, which keeps its books in U.S.

BANK OF CANADA SAYS DEBT, ASSET VALUATIONS ARE KEY RISKS TO STABILITY

Yahoo Finance - David Lyjunggren (2024-05-10)

Over the last year, the share of borrowers without a mortgage who carry a credit card balance of at least 80% of their credit limit - people seen as significantly likely to miss a future debt payment - has edged up and is now at 23%.

BFF BANK SHARES SLUMP 32% AMID BANK OF ITALY PROBE

Yahoo Finance - Sonia Sirletti and Tiago Ramos Alfaro (2024-05-10)

BFF Bank’s senior preferred bond due March 2029 is indicated at 91.7

ADVOCATES HOPEFUL BUT WARY OF BANKS' PLEDGE TO STOP ABUSIVE E-TRANSFERS

CBC - Katie Nicholson, Victoria Stunt, Tess Ha (2024-05-10)

One solution suggested in the letter is an AI-based program developed by the Commonwealth Bank in Australia and made free for all other banks worldwide.

UBS MULLS BONUS FOR INVESTMENT BANKERS WHO LURE RICH CLIENTS

Bloomberg - Chanyaporn Chanjaroen (2024-05-10)

UBS Group AG is considering introducing a reward system for investment bankers who refer clients to the firm’s wealth management business, according to people with knowledge of the matter. Some

DISTRUST IN FDIC LEADERSHIP DRIVES MORE STAFF TO CONSIDER EXITS, DATA SHOWS

Reuters - Douglas Gillison (2024-05-10)

Staff trust in the Federal Deposit Insurance Corporation's leadership has fallen sharply to well below government averages, with a growing number of workers considering leaving the agency, the latest FDIC staff survey data obtained by Reuters shows. In

US 30-YEAR FIXED-RATE MORTGAGE FALLS TO 7.09%, STILL TOO HIGH TO BOOST HOUSING

Reuters (2024-05-10)

The average rate on the 15-year fixed-rate mortgage fell to 6.38%

CANADA'S JOB MARKET COULD BE IN WORSE SHAPE THAN WE THOUGHT

FP (2024-05-10)

Last month we got a surprise.

TORONTO OFFICE SPACE HITS RECORD VACANCY RATE, AVAILABILITY SURGES DOWNTOWN

Better Dwelling (2024-05-10)

It’s not just a suburban issue either, with Downtown Toronto seeing the issue intensify even faster.

BANKS ‘HAVE TO GET BETTER’ AT SOLVING MONEY LAUNDERING, SAYS OSFI HEAD

G&M - Stefanie Marotta (2024-05-09)

The head of Canada’s banking regulator is comfortable with the ability of the country’s largest banks to curb money laundering crimes, but says that there is room for improvement. The

CANADIAN CLIMATE FINANCE IS ‘PATCHWORK, DELIVERED LATE, FALLING SHORT,’ CARNEY SAYS

G&M - Jeffrey Jones (2024-05-09)

Mr.

MANULIFE’S FIRST-QUARTER PROFIT RISES ON ASIA UNIT STRENGTH

G&M (2024-05-09)

Total investment income at Manulife came in at $4.79-billion

BOE IS SENDING RIPPLES THROUGH MONEY MARKETS WITH AGGRESSIVE BOND SALES

Yahoo Finance (2024-05-09)

Analysts have warned the central bank will need to halt its weekly bond sales later in the year, or risk undermining future efforts to loosen borrowing conditions.

MORNING BID: BANK OF ENGLAND TO TEST CUT ASSUMPTIONS

Yahoo Finance (2024-05-09)

Academic Swati Dhingra already voted for a cut in March and some figure on Deputy Governor Dave Ramsden joining her this month.

'SERIOUSLY UNDERWATER' HOME MORTGAGES TICK UP ACROSS THE US

Yahoo Finance (2024-05-09)

Nationally, 2.7%

FED'S COMMUNICATIONS STYLE SCORES WELL WITH ANALYSTS BUT NOT PUBLIC

Reuters - Howard Schneider (2024-05-09)

Responses from 31 academic and 24 private Fed watchers to questions posed by the Brookings Institution's Hutchins Center on Fiscal and Monetary Policy gave the U.S.

SPANISH GOVERNMENT OPPOSES BBVA'S $13 BLN SABADELL BID

Reuters (2024-05-09)

Under Spanish law, the Economy Ministry has the last word in approving any merger or acquisition of a bank.

CANADA AMONG NATIONS FIGHTING RISING RENT IN GLOBAL INFLATION BATTLE

FP (2024-05-09)

The upshot: The disinflation momentum seen through most of last year has all but stalled in some developed economies.

BUBBLE CONTAGION? EASTERN CANADA HOME PRICES RETAIN THE FROTHIEST GROWTH

Better Dwelling (2024-05-09)

First let’s get some market context by looking at the national composite benchmark.

CANADA HEADED FOR A HYBRID OPEN-BANKING REGIME

Investment Executive (2024-05-09)

Canada could be headed to a hybrid open-banking model where industry pursues market-driven objectives under parameters set by the government, said Saba Shariff, head of new product development and corporate strategy with Symcor, a payment processing company based in Mississauga, Ont.

THE FINANCE CURSE

RT.com - Video on financial system (2024-05-09)

For many years, we’ve been told that finance is good and more finance is better.

TD BANK’S SHARE PRICE FALLS 5.8% AS ANALYST WARNS OF POTENTIAL HIGHER FINES FROM U.S. MONEY-LAUNDERING PROBE

G&M - CHRISTINA PELLEGRINI, JAMES BRADSHAW, TIM KILADZE and JACQUELINE NELSON (2024-05-08)

As TD’s share price fell on Friday, declining by more than 6 per cent at its lowest point in trading on the Toronto Stock Exchange, shares in its four largest Canadian peers – RBC, Bank of Montreal, Bank of Nova Scotia and Canadian Imperial Bank of Commerce – were modestly

SPAIN’S CENTRAL BANK MAY BE LED BY A WOMAN FOR THE FIRST TIME

Yahoo Finance - Jorge Valero and Jorge Zuloaga (2024-05-08)

Whoever takes charge will do so just as the ECB starts undoing the spate of rate hikes it deployed to quell inflation after Russia attacked Ukraine.

RIKSBANK KICKS OFF EASING WITH FIRST SWEDISH RATE CUT SINCE 2016

Bloomberg - Niclas Rolander (2024-05-08)

The Riksbank cut its benchmark interest rate for the first time in eight years, acting before the neighboring euro zone in a bid to offer respite to Sweden’s recession-stricken economy. The

TRUMP JUDGE INDEFINITELY POSTPONES DOCUMENTS CASE TRIAL

Bloomberg - Chris Strohm (2024-05-08)

Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election. US

JPMORGAN SEES GAIN OF ABOUT $8 BILLION FROM VISA EXCHANGE OFFER

Bloomberg - David Scheer (2024-05-08)

JPMorgan Chase & Co.

US PROBE FINDS WIDESPREAD SEXUAL MISCONDUCT AT FDIC

Reuters - Douglas Gillison and Pete Schroeder (2024-05-08)

Overall, the report by law firm Cleary Gottlieb, opens new tab paints a picture of an agency at which sexual harassment, racial discrimination and bullying were pervasive at every level and tolerated by senior leaders for years, while complaints about misconduct were met with retaliation. "For

GENERATIVE AI IS TAKING OVER CUSTOMER SERVICE — AND IT'S WORKING

FP - Kelsey Rolfe (2024-05-08)

The first few months of the year are particularly busy for Wealthsimple Inc.‘s

TANKING ECONOMY, PRODUCTIVITY MEAN BANK OF CANADA SHOULD CUT RATES WITH OR WITHOUT THE FED

FP - David Rosenberg (2024-05-08)

We find it rather incredible that the Bank of Canada is so nonchalant when it comes to the state of the Canadian economy.

WARREN BUFFETT EYES CANADIAN INVESTMENT AS CASH PILE HITS FRESH RECORD

FP - Sally Bakewell (2024-05-08)

The company’s hoard increased to US$189 billion at the end of the first quarter, topping the record it set at year-end.

CANADIAN BUSINESS INSOLVENCIES SURGED 87% HIGHER IN Q1

Better Dwelling (2024-05-08)

Canada has seen a big uptick in the number of filings over the past year.

TD BANK FACES MOUNTING CALLS FOR EXECUTIVE CHANGE

G&M - Stefanie Marotta (2024-05-07)

Toronto-Dominion Bank TD-T is under escalating pressure to shake up its leadership in response to emerging details about its anti-money-laundering gaps that prompted a probe from U.S.

PROPERTY INSURER INTACT ROLLS OUT PILOT PROJECT TO FIREPROOF HOMES WHEN WILDFIRES ARE NEAR

G&M - Clare O'Hara (2024-05-07)

“Last year, the wildfire season in Alberta and British Columbia was very intense, and the very warm and dry winter we had this year is conducive to what could be another challenging wildfire season,” Intact senior vice-president of personal lines Guillaume Lamy said in an interview. “We

MONTREAL HOME SALES JUMPED 25.5% IN APRIL AS EXPECTED RATE CUTS PROMPT RECOVERY, REAL ESTATE BOARD SAYS

G&M (2024-05-07)

The median price for all housing types was up year-over-year, led by a 6.5

WEALTHSIMPLE EXPERIENCING MASSIVE GROWTH AFTER TWO QUARTERS OF RECORD ASSET GAINS

G&M - Sean Silcoff, Clare O'Hara (2024-05-07)

Two years after its growth stalled, bank challenger Wealthsimple Technologies Inc.

CANADA POST LOST $748 MILLION LAST YEAR, WARNS OF 'CRITICAL' FINANCIAL SITUATION

CBC (2024-05-07)

Canada Post has been losing money since 2018.

UBS IS ADDING $20 BILLION IN CAPITAL EVEN BEFORE SWISS REFORMS

Bloomberg - Myriam Balezou and Nicholas Comfort (2024-05-07)

UBS Group AG is already adding almost $20 billion in capital to its regulatory reserves as it integrates Credit Suisse’s business, Chief Executive Officer Sergio Ermotti said, regardless of the Swiss government’s plans to increase requirements from next year. “Fully

FOR CLUES ON WHY THE BOE HASN’T CUT RATES, JUST HEAD TO THE PUB

Bloomberg (2024-05-07)

Prime Minister Rishi Sunak has rarely missed a chance to take credit for bringing UK inflation down to 3.2%.

GOLDMAN SACHS CRIMINAL CASE OVER 1MDB FORMALLY ENDS

Reuters (2024-05-07)

A U.S.

CMHC BEATS TARGETS FOR NEW HOMES IN 2023, DESPITE ECONOMIC CHALLENGES

FP - Shantaé Campbell (2024-05-07)

The Crown corporation, charged with administering the country’s national housing programs, released its annual report on Monday, revealing its progress in meeting the mandates of the NHS — a 10-year plan launched in 2017.

TD MAY FACE US$2 BILLION MONEY LAUNDERING FINE, THIRD-LARGEST EVER: ANALYSTS

Better Dwelling (2024-05-07)

Aiken believes the extent of the issue may cost a lot more.

OSC TO INCREASE FOCUS ON DIY INVESTORS

Investment Executive - James Langton (2024-05-07)

He added that advice given at bank branches must be “more proficient and [have] more components of financial planning brought to bear,” and be accessible to people “even if they’re not wealthy and receiving the highest level of fiduciary advice.”

CAPITAL MARKETS REBOUND OFFSETS U.S. BANKS’ WEAKNESS

Investment Executive (2024-05-07)

“We still expect modest total loan growth in 2024, presuming there is greater clarity around the path of interest rates and regulatory capital requirements,” it said.

INVESTING COMPANY NEWS REAL ESTATE NEWS WIRE 40M AGO AUSTRALIA BANKS SHOWER INVESTORS IN BUYBACKS AMID MORTGAGE FIGHT

BNN (2024-05-07)

Over the past week, ANZ Group Holdings Ltd.

FTX FILES AMENDED REORGANIZATION PLAN, EXPECTS $14.5 BILLION-$16.3 BILLION FOR DISTRIBUTION

Yahoo Finance (2024-05-07)

The plan put forward by FTX creates a "convenience class" for creditors with claims of $50,000 or lower, under which it anticipates that majority of the creditors will receive about 118% of the amount of their claims within 2 months if approved by the court.

FITCH DOWNGRADES NEW YORK COMMUNITY BANCORP TO 'BB' ON NEAR-TERM EARNINGS PRESSURE

Yahoo Finance (2024-05-07)

Last week, NYCB reported a first-quarter loss of $327 million, or 45 cents per share, as the lender set aside higher provision for credit losses due to its exposure to the beleaguered commercial real estate sector.

WARREN BUFFETT’S BERKSHIRE HATHAWAY MULLS MAJOR NEW INVESTMENT IN CANADA

G&M - Brent Jang (2024-05-06)

Warren Buffett’s Berkshire Hathaway Inc.

MACKLEM TRIES TO STAY OUT OF THE FRAY AS MPS DO THEIR BEST TO USE HIM TO SCORE POINTS

G&M - Nojoud Al Mallees (2024-05-06)

Mindful of the weight his words carry, the governor keeps his responses focused on the implications of fiscal policy on inflation. But

TD BANK COULD FACE MORE SEVERE PENALTIES AFTER DRUG MONEY LAUNDERING ALLEGATIONS, SAYS ANALYST

CBC (2024-05-06)

Dechaine said the severity of the allegations means TD could not only face fines well above the $500 million to $1 billion that many investors have anticipated, but also more severe regulator-imposed limitations on its business activities.

GOLD ADVANCES AS INVESTORS WEIGH MIXED SIGNALS ON US ECONOMY

Yahoo Finance - Sybilla Gross (2024-05-06)

The precious metal climbed as much as 1% on Monday, following its first back-to-back weekly losses since February.

THE U.S. ECONOMY IS HEADED FOR A HARD LANDING, AND FED RATE CUTS WON’T BE ENOUGH TO RESCUE IT, CITI SAYS

Yahoo Finance - Jason Ma (2024-05-06)

Doubling down on his contrarian view, Citi chief U.S.

GLOBAL HOUSING SHORTAGES ARE CRUSHING IMMIGRATION-FUELED GROWTH

Bloomberg - Randy Thanthong-Knight, Swati Pandey, and Tom Rees (2024-05-06)

Across much of the developed world, one of the most dependable drivers of economic growth is faltering. For

PING AN VOTES AGAINST REAPPOINTMENT OF HSBC CEO AS DIRECTOR, SOURCE SAYS

Reuters - Gursimrankaur Mehar (2024-05-06)

China's Ping An Insurance Group Co(601318.SS),

KILLER TD VARIABLE RATE MORTGAGE COULD BE SIGN OF BETTER DEALS TO COME

FP (2024-05-06)

Toronto-Dominion Bank’s new offer is 6.19

DAVID ROSENBERG: WHY THE BANK OF CANADA NEEDS TO START CUTTING RATES … NOW

FP - David Rosenberg (2024-05-06)

The most important inflation metric, the CPIX, which excludes the eight most volatile segments of the index, is running at 2.1

RBC LAUNCHES INCUBATOR

Finextra (2024-05-06)

The bank is working with the Rogers Cybersecure Catalyst at Toronto Metropolitan University on the RBC FinSec Incubator.

MASTERCARD FOUNDATION LAUNCHES TORONTO-BASED ASSET MANAGER TO OVERSEE $47-BILLION IN INVESTMENTS

G&M - James Bradshaw (2024-05-03)

One of the world’s largest private charitable organizations, the Mastercard Foundation, is creating a separate Toronto-based asset manager from scratch to modernize the way it invests its US$47-billion portfolio – a vast pool of wealth built from owning a single stock. Mastercard

U.S. PROBE OF TD BANK TIED TO US$653-MILLION MONEY-LAUNDERING AND DRUG-TRAFFICKING CASE

G&M - Tim Kiladze (2024-05-03)

Toronto-Dominion Bank’s TD-T lengthy regulatory and law enforcement investigation in the United States is tied to a US$653-million money-laundering and drug-trafficking operation, a revelation that finally sheds light on American regulators’ decision to block TD’s multibillion-dollar U.S.

RENTAL HOUSING INVESTOR STARLIGHT HIT BY RISING REAL ESTATE SUPPLY IN U.S., COMPOUNDING PAIN FROM HIGHER RATES

G&M - Tim Kiladze (2024-05-03)

Starlight Investments, run by Canadian real estate magnate Daniel Drimmer, launched two funds that invested in U.S.

SOCIETE GENERALE PROFIT BEATS ESTIMATES AS EQUITIES HELP LIFT RESULTS

Yahoo Finance - Alexandre Rajbhandari (2024-05-03)

Income from the trading of equities products rose 3% to €870 million ($933 million) in the period, beating the €843 million that analysts polled by Bloomberg anticipated.

WHY MORTGAGES AND INTEREST RATES ARE A HOT UK ELECTION ISSUE

Bloomberg - Joe Mayes and Tom Rees (2024-05-03)

With Britain expecting a general election later this year, the ruling Conservatives and Labour opposition are drawing up rival plans to help a key demographic: aspiring homeowners.

DANSKE BANK SHARES DECLINE AFTER NET INTEREST INCOME MISS

Bloomberg - Love Liman (2024-05-03)

Danske Bank A/S shares declined after Denmark’s largest lender reported slightly weaker-than-forecast net interest income, worrying investors over the pace of its recovery after its money laundering scandal. The

EQ BANK TAPS 'SCHITT’S CREEK' DUO TO BATTLE CANADIAN STRANGLEHOLD

FP (2024-05-03)

Equitable Bank Inc.

BANK OF CANADA CAN DIVERGE FROM FED ON RATES WITHOUT STOKING INFLATION, NATIONAL BANK SAYS

FP - Randy Thanthong-Knight (2024-05-03)

Overnight swap markets are pricing in about 55 basis points of cuts in Canada by year end, compared with 35 basis points in the United States.

TD BANK PROBE TIED TO LAUNDERING OF ILLICIT FENTANYL PROFITS, WSJ REPORTS

Reuters (2024-05-03)

The investigation was initiated after agents uncovered an operation in New York and New Jersey that laundered hundreds of millions of dollars in proceeds from illicit narcotics through TD and other banks, the WSJ reported, opens new tab, citing court documents and people familiar with the matter. "Criminals

SVB FINANCIAL TO SELL VC BUSINESS SVB CAPITAL

Reuters (2024-05-03)

Collapsed U.S.

CANADIAN HOUSING AGENCY BIZARRELY FORECASTS RECORD HOME PRICES & WEAK ECONOMY

Better Dwelling (2024-05-03)

The CMHC sees home prices rising at a face-ripping rate across the country.

ASSISTANT SUPERINTENDENT TOLGA YALKIN PARTICIPATES IN A PANEL DISCUSSION AT MICHAEL D. PENNER INSTITUTE CONFERENCE

OSFI (2024-05-03)

There are benefits to harmonizing regulatory requirements for financial institutions.

UK BANKS EARN OVER £9BN INTEREST ON RESERVES WITH BOE

Central Banking (2024-05-03)

Four major lenders in the UK earned a total of £9.3

TIFF MACKLEM SAYS HIGHER INTEREST RATES HAVING MORE BITE IN CANADA THAN U.S.

G&M - Mark Rendell (2024-05-02)

Mr.

U.S. FEDERAL RESERVE SAYS INTEREST RATES WILL STAY AT TWO-DECADE HIGH UNTIL INFLATION FURTHER COOLS

G&M - Christopher Rugaber (2024-05-02)

The Fed issued its decision in a statement after its latest meeting, at which it kept its key rate at a two-decade high of roughly 5.3

RUSSIA CAN'T MATCH A WESTERN ASSET SEIZURE, BUT IT CAN INFLICT PAIN

Reuters - Alexander Marrow (2024-05-02)

Russia's ability to mete out like-for-like retaliation if Western leaders seize its frozen assets has been eroded by dwindling foreign investment, but officials and economists say there are still ways it can strike back. The

AUSTRALIA BANKS FACE PROFIT SQUEEZE ON RISING COSTS, MORTGAGE COMPETITION

Reuters - Sameer Manekar (2024-05-02)

Australia's biggest banks are likely to report weaker first-half profit as high operating costs and competition to sell mortgages and deposits squeeze margins, setting up a possible reversal of a stock rally that analysts said has left the sector overheated. Traditionally

THIS CRATERING GDP NUMBER HAS ONLY EVER BEEN SEEN DURING A RECESSION

FP - Gigi Suhanic (2024-05-02)

The closely watched measure continued to crater and is now down three per cent from its peak in September 2022, according to Matthieu Arseneau, deputy chief economist at National Bank of Canada. “A

WHY BANKS THESE DAYS ARE SO EXCITED ABOUT BEING BORING

Bloomberg - Bre Bradham (2024-05-02)

In March, PNC Financial Services Group Inc.

CHRIS ROKOS’S $17 BILLION HEDGE FUND EXTENDS GAINS TO ABOUT 20%

Bloomberg - ishant Kumar and Liza Tetley (2024-05-02)

Billionaire Chris Rokos’s hedge fund cemented its position as one of the best performing macro money pools so far this year, with year-to-date gains now reaching about 20%. His

GREATER TORONTO RENTAL VACANCY RATE SOARS 30% HIGHER, PRICES BARELY MOVE

Better Dwelling (2024-05-02)

Inventories for newly-built (2003 or later) apartment rentals in the GTHA region have climbed significantly.

IVEY SUMMER PROGRAM AIMS TO ATTRACT WOMEN TO FINANCIAL SERVICES

Investment Executive (2024-05-02)

The summer program provides female undergraduate students with four weeks of in-class training, combined with a 10- to 12-week paid internship at an asset management firm.

ECHELON WEALTH PARTNERS FACES ACTION BY CANADA’S INDUSTRY REGULATOR OVER U.S. TRADING

G&M - DAVID MILSTEAD, CLARE O’HARA (2024-05-01)

Toronto-based brokerage Echelon Wealth Partners Inc.

TD BANK TAKES US$450-MILLION PROVISION RELATED TO PROBE WITH REGULATOR OVER ANTI-MONEY LAUNDERING WEAKNESSES

G&M - Stefanie Marotta (2024-05-01)

Toronto-Dominion Bank TD-T is setting aside US$450-million to cover penalties it’s facing as a result of a lengthy U.S.

DOLLAR NEAR FIVE-MONTH HIGHS AHEAD OF FED POLICY DECISION

Yahoo Finance - Alun John (2024-05-01)

"It's pretty clear from the way that the data has been that we're going to see a focus shift from the last Fed meeting, the question is the extent to which Powell has already previewed the shift of rhetoric when he last spoke," said Michael Sneyd, head of cross-asset and

IT'S OPENING DAY FOR THE $34 BILLION TRANS MOUNTAIN OIL PIPELINE EXPANSION

Yahoo Finance (2024-05-01)

The expansion increases the Trans Mountain system's shipping capacity from 300,000 barrels per day to 890,000 barrels per day, and will help open up global export markets for Canadian oil.

US POISED TO EASE RESTRICTIONS ON MARIJUANA IN HISTORIC SHIFT, BUT IT'LL REMAIN CONTROLLED SUBSTANCE

Yahoo Finance (2024-05-01)

Biden and a growing number of lawmakers from both major political parties have been pushing for the DEA decision as marijuana has become increasingly decriminalized and accepted, particularly by younger people.

FED TO SIGNAL DELAY OF INTEREST-RATE CUTS

Bloomberg - Steve Matthews (2024-05-01)

Federal Reserve officials are poised to keep interest rates steady for a sixth consecutive meeting and signal no plans for cuts in the near future after higher-than-expected inflation. The

WHY THE US DOLLAR IS CAUSING CHAOS ACROSS ASIA

Bloomberg - Marcus Wong (2024-05-01)

Emerging-market currencies have tumbled this year as the dollar has gone from strength to strength.

CANADIAN GDP GROWTH HITS HALF THE ESTIMATE, PREVIOUS DATA REVISED LOWER

Better Dwelling (2024-05-01)

Speaking of January’s surprise growth, Stat Can made a downward revision to the month.

WHAT TRIGGERED NOEL QUINN’S SHOCK EXIT FROM HSBC

FT - Roula Khalaf (2024-05-01)

Please use the sharing tools found via the share button at the top or side of articles.

SCOTIABANK TAPS MORGAN STANLEY EXECUTIVE TO LEAD ITS GLOBAL BANKING AND MARKETS DIVISION

G&M - Stefanie Marotta (2024-04-30)

The move is the latest leadership changeover in the past year in which chief executive officer Scott Thomson has acquired talent from other financial institutions while promoting more junior executives through the ranks internally.

NATIONAL BANK OF CANADA TARGETS GLOBAL BORROWERS WITH PARIS HUB

Yahoo Finance - Chunzi Xu and Esteban Duarte (2024-04-30)

Simon Cote, who heads the London office, will also lead operations for the Paris branch, said Sean St.

GLOBAL BANKING REGULATORS TARGET MISMANAGEMENT IN HANDLING RISKS FROM CLIENTS

Yahoo Finance - Huw Jones (2024-04-30)

The Basel Committee, made up of banking regulators from the G20 economies and elsewhere, said banks needed to improve how they manage counterparty credit risks (CCR) presented by clients. It

HSBC CEO QUINN UNEXPECTEDLY STEPS DOWN AFTER ALMOST 5 YEARS

Yahoo Finance - Harry Wilson and Ambereen Choudhury (2024-04-30)

HSBC Holdings Plc’s Chief Executive Officer Noel Quinn is stepping down, an unexpected move that comes as Europe’s largest lender tries to navigate the deterioration of ties between China and the US. During

BARCLAYS SAYS IT’S WINNING ASIA BANKING BUSINESS FROM US FIRMS

Yahoo Finance - Cathy Chan (2024-04-30)

The additions include six directors for its macro unit trading currencies and rates who were hired from rivals including Goldman Sachs Group Inc.

OPEN BANKING COULD SPUR COMPETITION, BUT FINTECHS SAY CANADA'S MOVING TOO SLOWLY

CBC - Anis Heydari (2024-04-30)

During their long, decade-plus wait for open banking, some in the sector have blamed Canada's sluggish pace on the big banks trying to keep new up-and-comers out of the market.

THE FED’S QUANTITATIVE EASING PROGRAM COST TOO MUCH

Bloomberg - Bill Dudley (2024-04-30)

America’s experiment with quantitative easing is almost over.

SCOTIABANK HIRES TRAVIS MACHEN FROM MORGAN STANLEY TO RUN GLOBAL BANKING

Bloomberg - Gillian Tan and Christine Dobby (2024-04-30)

Travis Machen is joining Bank of Nova Scotia from Morgan Stanley to lead the its global banking and markets business. Machen,

FOREIGN INVESTMENT IN UK FINANCE SECTOR HALVES IN 2023, SAYS CITY OF LONDON

Reuters (2024-04-30)

Foreign investment in Britain's financial and professional services halved to one billion pounds ($1.25

REGULATORS CLOSE PHILADELPHIA-BASED REPUBLIC FIRST BANK, FIRST U.S. BANK FAILURE THIS YEAR

FP (2024-04-30)

The Federal Deposit Insurance Corp.

CANADIAN REAL ESTATE PRICES CLIMBED FASTER THAN MORTGAGE PAYMENTS

Better Dwelling (2024-04-30)

The price of a home generally rose faster than mortgage payments across Canada.

FRAUDSTERS FAKING IDENTITIES, DUPING BANKS

Investment Executive (2024-04-30)

Instead of using the stolen identities of real people, a Toronto-based fraud scheme was based on the manufacture of false identities, which duped financial institutions for at least $4 million, according to police.

RATINGS FOR GLOBAL FINANCIAL SECTOR TREND POSITIVE: FITCH

Investment Executive (2024-04-30)

Most global financial institutions (83%) had stable rating outlooks at the end of the first quarter, while 8% were on positive rating watch/outlook, and 6% faced negative outlooks (2% of issuers had no outlook, given their already rock-bottom ratings).

TORONTO SMALL BUSINESS FORCED TO CLOSE AFTER LOSING MONEY TO CHEQUE FRAUD THAT TD COULDN’T STOP

G&M - Chris Hannay (2024-04-29)

A Toronto staffing agency says it was forced to close its doors after losing hundreds of thousands of dollars to cheque fraud – and the former owners are asking why their bank was repeatedly unable to stop the scam from happening. The

FINANCIAL PESSIMISM RISING ALONGSIDE INTEREST RATES, INFLATION: “I’VE HAD TO REEVALUATE WHAT IS POSSIBLE”

G&M - Saira Peeker (2024-04-29)

“In the last two years, I’ve had to re-evaluate what is possible,” says Mr.

GOVERNMENT HITS CANADA LIFE WITH FINANCIAL SANCTIONS

CBC (2024-04-29)

The federal government has begun imposing financial sanctions on Canada Life after months of outcry from public servants, retirees and their families who were left fighting for medical claims to be covered.

OPEN BANKING COULD SPUR COMPETITION, BUT FINTECHS SAY CANADA'S MOVING TOO SLOWLY

CBC (2024-04-29)

Open banking lets consumers or business customers share personal and financial information between approved banks and other companies.

GOLD COULD GO AS HIGH AS $3,000, FORECASTERS SAY

FP - Larysa Harapyn (2024-04-29)

John Ciampaglia, chief executive at Sprott Asset Management LP, talks with Financial Post’s Larysa Harapyn about how gold has decoupled from its usual drivers as central banks in the east snatch up the yellow metal.

'IT'S CLEAR' MARK CARNEY WANTS TRUDEAU'S JOB AND SHOULD APPEAR AT COMMONS COMMITTEE: CONSERVATIVES

FP - Catherine Levesque (2024-04-29)

Even though Prime Minister Justin Trudeau has repeatedly said he is staying on as leader of his party, the ongoing speculation about Carney’s political prospects has only intensified in recent months, and more so after he delivered a speech Monday evening during which he criticized the federal budget.

CANADA'S RETAIL SALES FLATLINE, SUPPORTING CASE FOR BANK OF CANADA RATE CUT

FP - Randy Thanthong-Knight (2024-04-29)

Taken together with the 0.3

CHINA FIRMS GO 'UNDERGROUND' ON RUSSIA PAYMENTS AS BANKS PULL BACK

Reuters (2024-04-29)

The U.S.

HALF OF RUSSIA'S PAYMENTS TO CHINA MADE THROUGH MIDDLEMEN, SOURCES SAY

Reuters (2024-04-29)

Russian firms' efforts to make payments for goods in China as secondary sanctions fears spook local banks have generated a flourishing market for middlemen, four sources told Reuters, with up to half of transactions now handled by intermediaries. The

WHAT 60,000 HEADLINES SAY ABOUT THE FED’S NEXT MOVE

Bloomberg (2024-04-29)

Words are powerful.

GOLDMAN TO BANKERS: NO SNEAKY TRIPS TO PARIS DURING OLYMPICS

Bloomberg - Denise Wee and Alexandre Rajbhandari (2024-04-29)

For Goldman Sachs Group Inc.

TITLE PROTECTION IN CANADA MUST PUT CONSUMERS FIRST

Investment Executive - Tasia Batstone (2024-04-29)

Prioritizing clients’ best interests is not just a regulatory or professional obligation for financial advisors and financial planners; it is a fundamental principle that underpins integrity, trustworthiness and success in financial services.

THIS IS AN ACCOUNT OF THE DELIBERATIONS OF THE BANK OF CANADA’S GOVERNING COUNCIL LEADING TO THE MONETARY POLICY DECISION ON APRIL 10, 2024

BOC (2024-04-29)

International financial conditions had continued to ease since the January Monetary Policy Report, as the global economic outlook improved, and the risk of a recession diminished.

BRIDGEWATER BANK NAMES NEW CHIEF RISK OFFICER

Mortgage Broker News (2024-04-29)

Michelle Chimko, president of the Alberta Motor Association, commented on the appointment in a recent news release and said they are “delighted” to welcome Kent as Bridgewater’s new CRO.

BOC WANTS INFLATION TO EASE FURTHER BEFORE LOWERING RATES

Mortgage Broker News (2024-04-29)

Some members were wary of upside inflation risks spurred by stronger economic growth in the US and recent domestic improvements, as indicated by a more robust GDP growth forecast.

COULD RATE CUTS REVIVE THE BC HOUSING MARKET IN 2024?

Mortgage Broker News (2024-04-29)

Based on these trends, BCREA said it is expecting the Bank of Canada to initiate policy rate cuts as early as June 2024, potentially reaching up to 100 basis points by the year’s end.

MAJORITY OF ASPIRING CANADIAN HOMEOWNERS AWAITING RATE CUTS BEFORE BUYING, SURVEY SHOWS

G&M (2024-04-29)

The majority of Canadians aspiring to buy a home say they will push their plans to next year or later to wait for interest rates to drop, a new survey shows. Bank

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

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

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

'NEOBANK IN A BOX' STARTUP FINTECH FARM RAISES $32 MILLION

Finextra (2024-05-13)

Fintech Farm’s first project, Leobank, was launched in 2021.

SHOPIFY EXECUTIVE EARNED US$76-MILLION IN 2023, FAR OUTPACING CEO’S COMPENSATION

G&M - David Milstead (2024-05-13)

The best-paid Shopify Inc.

TD BANK’S $20-BILLION QUESTION: WAS A GIANT EXPANSION BET ON THE UNITED STATES WORTH IT?

G&M - Tim Kiladze (2024-05-13)

Mr.